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Old February 29th, 2012, 08:04 AM   #1
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Old February 29th, 2012, 08:20 AM   #2
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When gas prices rose during the Bush administration it was Bush's fault. When gas prices rise during the Obama administration it's not Obama's fault.



When a lefty protest Govt policy it's called 'Speaking Truth to Power". When a conservative protests Govt policy it's called "A Racist Angry Mob".
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Old February 29th, 2012, 09:07 AM   #3
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Gosh, if we drive a car and the bus stop, trolley/light rail stop, or the commuter train station is just a 2-minute walk or two-minute drive, or 2-mile drive from where we live, and our workplace is the same where we get off at, maybe it is our fault that we use our cars to get to work instead of taking public transportation.



I live 3-4 miles from the nearest trolley/commuter train station, and work is 10 miles from my home. That is a savings of something like 12 miles per day.



Okay class, next problem to solve.
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Old February 29th, 2012, 09:50 AM   #4
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I worked at home before I retired and my wife still works at home. There are many pros and cons with that, but the best benefit is the savings on gasoline.
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Old February 29th, 2012, 10:25 AM   #5
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I've always got plenty of gas.



But fuel for the car is getting expensive.
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Old February 29th, 2012, 12:40 PM   #6
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Here is a good part of the reason for the high prices and please don't ignore how the government is trying to stop it and how Wall St. and the bought politicians that are bought by it are attempting to keep the government from changing it.



Quote:





Bart Chilton, a commissioner at the Commodity Futures Trading Commission, the federal agency that regulates commodity futures and option trading in the United States, said it’s time to look at home — in addition to overseas — when searching for the reasons why gas prices are on the rise.

“I’m fired up,” Chilton said. “I’m concerned and we have to look after consumers.”

According to Chilton, much of the problem is actually “made in the USA,” created by Wall Street traders who gamble on oil prices.



“There aren’t markets without speculation,” Chilton told ABC News. “It’s the excessive speculation we are concerned about.”



Chilton, who has served as commissioner since 2007, said far too few players control far too much of the market, allowing them to push the price of gas higher and higher. Chilton and the CFTC are attempting to implement caps on the total positions speculators can take when trading in the oil futures markets.



Chilton obtained an energy research report from Goldman Sachs spelling out how much the Wall Street firm estimated speculators had pushed up the real price of oil sold to make gas, due to large bets in the markets.



Using the numbers from in the Goldman Sachs report, combined with current information from the CFTC, Chilton calculated how much speculation is driving up the price at the pump for the average consumer.



He shared calculations with ABC News for the first time.



By Chilton’s calculation, if you drive a car like a Honda Civic, you’re paying $7.30 more than you should every time you fill up — to Wall Street speculators. If your car is a Ford Explorer you’re paying an extra $10.41.



For a Ford F150, he says owners pay an additional $14.56 per fill up -or more than $750 a year.



For their part, industry groups representing Wall Street say there is no evidence their trading activities actually push up the price of oil.



Chilton isn’t doesn’t buy that argument. He and the CFTC are currently attempting to implement new rules that would put limits on speculation. In response, Wall Street is suing the CFTC attempting to get an injunction, which would allow everything to remain status quo.



“They don’t want these limits,” he said. “They want unbridled ability to speculate in these markets and that’s not good for consumers. It’s not good for markets. It’s not good for the economy.”


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Old February 29th, 2012, 01:04 PM   #7
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So they are in fact trying to do something to cap speculation. Between $7.50 and $15 dollars per fill up, that's price gouging. Nice find waitingtables.
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Old February 29th, 2012, 01:10 PM   #8
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So they are in fact trying to do something to cap speculation. Between $7.50 and $15 dollars per fill out, that price gouging. Nice find waitingtables.


Yup, they (the Commodities Futures Trading Commission) are trying to cap it and are being sued by Wall St. firms and speculators in order to place an injunction on those new rules they are attempting to implement.
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Old February 29th, 2012, 01:13 PM   #9
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Time to buy an Asian tuna can, like a Hyundai Sonata, etc., etc.
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Old February 29th, 2012, 01:18 PM   #10
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Quote:
Originally Posted by waitingtables View Post
Quote:
Originally Posted by Fayt' timestamp='1330553046' post='386386

So they are in fact trying to do something to cap speculation. Between $7.50 and $15 dollars per fill out, that price gouging. Nice find waitingtables.


Yup, they (the Commodities Futures Trading Commission) are trying to cap it and are being sued by Wall St. firms and speculators in order to place an injunction on those new rules they are attempting to implement.


We're hitting peak oil and it's time we stop subsidizing fossil fuel and move our focus more toward alternative energies. Why should we continue to do business with dictated countries that don't like us very much like Saudi Arabia? I believe this is something both parties can agree on, or at least should.
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Old February 29th, 2012, 01:21 PM   #11
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Originally Posted by Fayt View Post
Quote:
Originally Posted by waitingtables' timestamp='1330553439' post='386389

[quote name='Fayt' timestamp='1330553046' post='386386']

So they are in fact trying to do something to cap speculation. Between $7.50 and $15 dollars per fill out, that price gouging. Nice find waitingtables.


Yup, they (the Commodities Futures Trading Commission) are trying to cap it and are being sued by Wall St. firms and speculators in order to place an injunction on those new rules they are attempting to implement.


We're hitting peak oil and it's time we stop subsidizing fossil fuel and move our focus more toward alternative energies. Why should we continue to do business with dictated countries that don't like us very much like Saudi Arabia? I believe this is something both parties can agree on, or at least should.

[/quote]



I agree, but it isn't only due to foreign sources anymore. The article I posted said that it comes right from Wall St. U.S.A.
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Old February 29th, 2012, 01:30 PM   #12
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Quote:
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Quote:
Originally Posted by Fayt' timestamp='1330553904' post='386398

[quote name='waitingtables' timestamp='1330553439' post='386389']

[quote name='Fayt' timestamp='1330553046' post='386386']

So they are in fact trying to do something to cap speculation. Between $7.50 and $15 dollars per fill out, that price gouging. Nice find waitingtables.


Yup, they (the Commodities Futures Trading Commission) are trying to cap it and are being sued by Wall St. firms and speculators in order to place an injunction on those new rules they are attempting to implement.


We're hitting peak oil and it's time we stop subsidizing fossil fuel and move our focus more toward alternative energies. Why should we continue to do business with dictated countries that don't like us very much like Saudi Arabia? I believe this is something both parties can agree on, or at least should.

[/quote]



I agree, but it isn't only due to foreign sources anymore. The article I posted said that it comes right from Wall St. U.S.A.

[/quote]



Yes, you're right. We have are own enemies to deal with here at home. You know, we was well on our way towards moving away from fossil fuel in the 1970s with Jimmy Carter as the main initiator. That all changed with the election of Ronald Reagan. His 1st act was taking down the solar panels off the roof of the White House. Since then, there has been more bark than bite from our presidents. I believe Obama will turn this tide.
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Old February 29th, 2012, 01:34 PM   #13
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It's hard to turn a tide that has that much power and influence and money. No matter who tries to do it.
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Old February 29th, 2012, 02:00 PM   #14
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If only we can achieve a truly democratic congress and Obama as commander and Chief for another 4 year, I believe not only will we see a big shift towards green energy but a whole lot of progressive changes. With the re-election of Obama, he can appoint more democratic or moderate Supreme Court judges to over turn that terrible 2010 decision Citizen United, that pretty much says that corporation are people and money if speech. With a more democratic congress, there's a high chance that we can see campaign finance reform so our country can return to being a small (d) democracy where our representative actually represent us and not be influence by large money interests (lobbyists and alike).



If not then yeah, that tide will be much harder to turn if any.
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Old February 29th, 2012, 03:19 PM   #15
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I've always got plenty of gas.



But fuel for the car is getting expensive.


Lay off the bean dip.
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Old February 29th, 2012, 08:53 PM   #16
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RHS, if it's stupid for the left to blame Bush(Which it is), then blaming Obama is equally as ludicrous.
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Old March 1st, 2012, 06:47 AM   #17
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RHS, if it's stupid for the left to blame Bush(Which it is), then blaming Obama is equally as ludicrous.


Well, somebody has to be blamed, like the booger man.
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Old March 1st, 2012, 03:58 PM   #18
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Quote:
Originally Posted by mikelew007' timestamp='1330581221' post='386645

[quote name='RidinHighSpeeds' timestamp='1330535078' post='386333']


RHS, if it's stupid for the left to blame Bush(Which it is), then blaming Obama is equally as ludicrous.


Well, somebody has to be blamed, like the booger man.

[/quote]



Well we can't blame the free market, it's a god after all and is infallible. Gotta pin the blame on someone I guess, even if the blame is totally misguided and misdirected. Anyone who blames the President, or the last one, or the last one, etc., fails to understand the fundamentals of oil macroeconomics. We could drill and drill until our nation looks like a piece of Swiss cheese, but it means little since the oil belongs to private companies and is bought and sold on the global market. It is not America's oil, it's Exxon's, and it isn't dug out of ground for the sake of America, but for the sake of the dollar. We've increased domestic supply and it's still growing, and we've reduced imports and demand in this country, but gas prices continue to be terrible for the average American consumer. We're doing the right things here, but even that fails to take into account the fact that global supply and demand, international relations, and unfortunately rampant speculation by Wall Street are a much larger influence of the price per barrel of oil. That's the way it is, no matter how much we whine about prices at the pump.



I still think we should continue to increase drilling and refining at home, and I would approve Keystone XL if I were President (If the GOP would let us evaluate the opportunities and risks first, instead of using it as political toll like they did.), because keep up on the supply helps to maintain global prices and keep them as steady as possible. This though, is only one part of a long term strategy I would employ that includes simultaneously that, and increasing our energy supply using coal, natural gas, nuclear, wind, solar, tidal, geothermal, all of the above. A glut of various accessible and better affordable energy sources would make weaning ourselves away from oil far more feasible, or at least reduce our dependency to a point where we wouldn't be held hostage by a solitary market, dominated by too much speculative price gouging and troubles abroad.
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