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  • Legislators take a look at oil speculation

    lone wolf, I do believe it's you they're targeting! :-)


    http://www.sfgate.com/cgi-bin/article.c ... 01&sc=1000

  • #2
    Re: Legislators take a look at oil speculation

    Originally posted by gh
    lone wolf, I do believe it's you they're targeting! :-)


    http://www.sfgate.com/cgi-bin/article.c ... 01&sc=1000
    Hey, I wish!! I don't speculate on oil futures. I just sell it for the price the speculators influence and the fact is, the higher the price the better off I am personally, no matter how high the retail price of gasline.

    I have no doubt that commodity speculation contributed to the price runup earlier this year but I am not aware of any law against trading futures so I don't understand what they are investigating..

    Comment


    • #3
      Re: Legislators take a look at oil speculation

      Originally posted by lonewolf
      . . . I am not aware of any law against trading futures so I don't understand what they are investigating..
      It would appear that they are investigating the possibility of regulating speculative futures trading in oil and other energy commodities.

      Comment


      • #4
        Re: Legislators take a look at oil speculation

        Originally posted by bad hammy
        Originally posted by lonewolf
        . . . I am not aware of any law against trading futures so I don't understand what they are investigating..
        It would appear that they are investigating the possibility of regulating speculative futures trading in oil and other energy commodities.
        Seems discriminatory to me. What would they do, put a cap on incremental increase in futures bids ?
        Will they put a corresponding limit on drilling contractors footage prices or day rates and the costs of the myriad of goods and services needed to produce the oil to provide the energy to fuel our economy?

        Comment


        • #5
          Re: Legislators take a look at oil speculation

          Originally posted by lonewolf
          Will they put a corresponding limit on drilling contractors footage prices or day rates and the costs of the myriad of goods and services needed to produce the oil to provide the energy to fuel our economy?

          The difference, as you know lonewolf, is the services you mention are all subject to competition to keep prices honest. Speculators operate on just this side of collusion, and prices going up through the stratosphere have little(if anything) to do with fundamentals.
          There are no strings on me

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          • #6
            Re: Legislators take a look at oil speculation

            Originally posted by guru
            Originally posted by lonewolf
            Will they put a corresponding limit on drilling contractors footage prices or day rates and the costs of the myriad of goods and services needed to produce the oil to provide the energy to fuel our economy?

            The difference, as you know lonewolf, is the services you mention are all subject to competition to keep prices honest. Speculators operate on just this side of collusion, and prices going up through the stratosphere have little(if anything) to do with fundamentals.
            Alas, the fundamentals respond more quickly going up than coming down.

            Comment


            • #7
              Re: Legislators take a look at oil speculation

              Originally posted by lonewolf
              I have no doubt that commodity speculation contributed to the price runup earlier this year but I am not aware of any law against trading futures so I don't understand what they are investigating..
              They have been discussing placing restrictions on buying oil futures if you don't have the means to take physical delivery of it.

              Comment


              • #8
                Re: Legislators take a look at oil speculation

                Originally posted by sprintblox
                Originally posted by lonewolf
                I have no doubt that commodity speculation contributed to the price runup earlier this year but I am not aware of any law against trading futures so I don't understand what they are investigating..
                They have been discussing placing restrictions on buying oil futures if you don't have the means to take physical delivery of it.
                Man, talk about a closed shop...
                Unfortunately, such monumental stupidty is not beyond uninformed, vindictive politicians, with no concept of the logistical absurdity of such a restriction, with no qualms about pandering to the electorate by destroying the oil industry and consequently our basic energy source and ultimately the general economy.

                Comment


                • #9
                  Re: Legislators take a look at oil speculation

                  Originally posted by lonewolf
                  Man, talk about a closed shop...
                  Unfortunately, such monumental stupidty is not beyond uninformed, vindictive politicians, with no concept of the logistical absurdity of such a restriction, with no qualms about pandering to the electorate by destroying the oil industry and consequently our basic energy source and ultimately the general economy.
                  Hyperbole alert!!!

                  Comment


                  • #10
                    I calls em like I sees em.

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                    • #11
                      destroys nothing but the ability of speculators to artificially raise the price of a commodity.

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