1. the speculations would stop if there was a transaction tax
as well as a windfall tax..
And anyone "buying" oil futures should have to prove that THEY have the storage facilities to handle it, and should have to HOLD it for x-amount of time before they can sell it to the next in line, who also follows the same procedures above..
There are just too many middle men passing this crucial necessity back & forth , each one jacking up the price more & more, and since we have no other real option, we are stuck paying what they end up charging us..
The persistent increase in oil prices over the past decade suggests that global oil markets have entered a period of increased scarcity. Given the expected rapid growth in oil demand in emerging market economies and a downshift in the trend growth of oil supply, a return to abundance is unlikely in the near term. - IMF, "World Economic Outlook April 2011"
More from the linked report: Oil is considered scarce when its supply falls short of a specified level of demand. If supply cannot meet demand at the prevailing price, prices must rise to encourage more supply and to ration demand. In this sense, oil scarcity is reflected in the market price.The price should reflect the opportunity cost of bringing an additional barrel of oil to market. It compensates the reserve owner for the cost of extraction and for the loss of one barrel of reserves that could have been sold in the future. In general, a high price level relative to the prices of other goods and services indicates scarcity, a low price indicates abundance, and changes in price over long periods signal changes in scarcity. Well-known models of commodity extraction also imply that the market price generally serves as a reliable guide to the opportunity cost, including the cost relative to expected future scarcity.
when the dept of defense announced a plan to switch to alternative fuels.
When the largest single user of fossil fuels in the US makes that kind of announcement, you know things are bad.
Also, it's also not a good sign when the various ship builders have launched a new line of large shipping container and oil transport ships that use much less Bunker C fuel. Which I might add, is the cheapest of cheap type of fossil fuel there is out there. On top of that, they are now lengthening their transport times to save fuel.
No one pays attention to that stuff. Or if they do, they don't really grasp the gravity of it.
If I were king, I would institute blanket conservation methods and laws, then slowly phase in a graduated tax increase on all oil products.
Use that money to rebuild the rail infrastructure.
Sadly, the US now only reacts rather than plans.
I fully expect one day, to hear on the news that gas stations have run dry and fossil fuel shipments have slowed.
18. There was a vote to end the subsidies. It died.
I'm sick of hearing this "I want actions" bit. You people are frigging educated enough about politics to know it doesn't work that way. There is no action this President can take that will force the hand of anyone. The only thing he can do is make deals to get conservative and centrist lawmakers to budge. And then you'll just bitch about that too. Ignoring the concepts of how our government works and the numbers that are or aren't in our favor is not helping us to get anything done. It just creates an opening for you to bitch while conveniently ignoring context.
23. If you want to do something, then stop bitching at the only person with power that is...
Edited on Mon Apr-25-11 12:17 PM by phleshdef
...willing to sign off on anything progressive at all.
A vast majority of the progressive things we want, President Obama would sign them into law, if someone would put the bill on his desk. Aside from that, all he can really do is go out and try to sell the vision to the country, which he does in fact try to do quite often.
Congress is the problem. And its one you can't expect one man to fix. The people have to fix that problem. Republicans sure know how to get that sort of thing done. They'll harass the shit out of them at the town halls and the like. They go out and whip theirs into line. Democrats, not so much.
We need to collectively get off of Obama's back and put every drop of that critical energy into pushing the other 2 parts of the legislative equation. He takes all the flack when he is the only one giving a national voice to any progressive ideals at all. Meanwhile, Republicans and blue dog dems get to skate by with hardly a drop of real pressure put on them at all. You aren't going to save the country like that.
26. Ironic that you talk about puffery as you simultaneously engage in it.
Thats all your criticism and blame shifting amounts to. You yell about puffery and then beat your chest at the President about actions, while you sit there and focus nothing on the real culprits in Congress. The problem is, there are thousands more so called activists just like yourself doing the same exact thing. And its why the progressive movement is going nowhere.
I expect an 'investigation' and a 'possible solution' that will undoubtedly end up being 'too expensive' or 'bad for national security' or 'require bi partisanship we can't get' or some other blah blah blah just so the 2012 campaign can say "Well, look, he tried to deal with high gas prices but ..."
it's coupled with high gold... which is almost twice the value it was two years ago...and the weak dollar. Of course it's costing us more. Fuel speculation is also not isolated to oil.. think ethanol trading, which is of course tied to grain speculation.
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