Bart Chiltion Head of CFTC appointed by GW Bush says....

Energy Speculation at Highest Levels on Record, CFTC’s Bart Chilton Says

http://www.bloomberg.com/news/2011-03-15/hedge-fund-energy-speculation-highest-on-record-cftc-s-bart-chilton-says.html

 

And this is another of those areas where President Obama and the Democrats can rein in the speculators and look like big heroes.

They've actually got a task force on it right now but I bet they wait until people really start screaming for the government to take some action.

 

So, you admit Obama and his minions can and do manipulate the price of oil on the free world market?

Why, to bleed the hard working tax paying Americans dry, before doing what he should have done years ago?

Yeah, Obama is a real hero in your eyes stumbler.....

 

What should Obama have done years ago? The price of gasoline is going to go up no matter who is in the White House, and no matter which party controls the Congress.

Right now the Republican presidential candidates are complaining about the increases in the price of gasoline while beating the drums for war with Iran. What do you think a war with Iran will do to the price of gasoline?

 

The new Regs are just now being thought out while your buddies try to get rid of them and their backers continue to screw us all speculating in the markets...

 

Exactly while also preserving their corporate welfare and taxpayer subsidies. So we can pay $4 per gallon for gasoline while they export gasoline, diesel and jet fuel to the same countries they shipped our jobs to/

But I do readily admit there are limited tools for the president and congress to at least influence the price of oil to some minor extent. In fact I think the calls to take oil out of the Strategic Reserve, the task force, and calls from Democrats in congress to slap some taxes on the speculators are the only reasons oil is not already at $150 per barrel and $5 a gallon gas.

 

If the commissioner limits the number of units that trade as a percentage of actual commodity then we will not have contracts floating around for twice the amount that exists.

This is and has been all BS and it is time to stop this shit before the greed just totally wrecks this country.

 

Well, my "buddies" are not the ones in charge.... Those must be your buddies at the helm right now???

As for the Bankers? I'm sure Obama is working hard on his new plan of manipulation and deception.

 

Another very important point. Driving up the price of oil while trading more oil than actually exists. Now that is bullshit.

So I agree with you I hope there's some way to remedy that.

 

There is and has been ways which is why I voted for Obama but so far I can not say much for what I see he could have done...

He has about 7 more months to get his ass in gear.

 

And look I'm pretty much the opposite. The two primary reasons I voted for president Obama is one; I did not want another conservative/Republican/Tea Bagger to get to appoint any more Supreme Court Justices. And two, because he had the first comprehensive energy policy I've seen for moving away from dependence on oil and coal. And I am flatly amazed at how much of that President Obama has been able to implement despite the obstructionists in congress trying to make the nation fail.

It stunned me ( and I spent more than 35 years working in the oilfield) to learn that gasoline, diesel fuel, and jet fuel are our largest exports. That's a huge difference right there

 

Part of that is because we are exporting so little of anything else, except jobs.

 

Absolutely true and isn't it ironic that you would be the one to nail me on that instead of one of our resident conservative/Republican/Tea Baggers.:excited:

Its way easier to admit that truth coming from you.

 

Thanks....I may not be happy but Romey shows me nothing...
Maybe Obama will kick some butt his second 4 years...

 

Look don't get me wrong. While I honestly can say that President Obama is the most intelligent, effective, and hardest working President I've seen in my lifetime that includes the times I've been disappointed, stunned, (lets see if my spell check will do) flabbergasted, not to mention pissed off and want to puke.

Damn, I fucking know "exhausted" from defending him. But at the same time President Obama has walked a razors edge and threaded political needles from the day he became president. And like no other president in history that I've seen President Obama has been up to his ass in alligators from day one so its kind of hard to blame him for not getting the swamp drained.

 

The old saying, "How do you eat an elephant?"...

One bite at a time...But you have to take the first bite...

The Justice Dept did not even start doing anything until Occupy went to the streets...

and then right under Obama's nose MF Global steals another 1.5 billion from farmers in the Midwest...

Someone needs to Go To Jail

 

I'm in agreement that lots of sombodies need to go to jail but I'm not holding my breath because money still does most the talking in this country especially in election years.

But I do have some hopes for the new consumer protection agency. I'd also love to see some taxes on stock transactions and as I've mentioned reining in the speculators. However, I don't look for much if anything to happen before the coming elections.

 

Obama Distorts Reality on Current Gasoline Prices

Submitted by may on February 27, 2012 - 11:48pmBarack Obama is concerned that skyrocketing gasoline prices leading into summer could have a major negative effect on his electability in November. Obama and his staff have always been in favor of US gasoline prices approaching $10 per gallon, as they are in Europe. However, Obama realizes prior to the General Election is the worst time for any of his Socialist wishes to come true.
When speaking in Miami last week, Obama tried to shift the blame for higher gasoline prices to others. I suggest reading his entire speech. However, Obama’s essential message regarding higher gasoline prices was,

So what does this mean for America? It means that anyone who tells you we can drill our way out of this problem doesn’t know what they’re talking about – or isn’t telling you the truth. The United States consumes more than a fifth of the world’s oil. But we only have 2% of the world’s oil reserves. That means we can’t just rely on fossil fuels from the last century. We can’t just allow ourselves to be held hostage by the ups and downs of the world oil market. We have to keep developing new sources of energy. We have to keep developing new technology that helps us use less energy. We have to keep relying on the American know-how and ingenuity that comes from places like the University of Miami. That’s our future. And that’s exactly the path we’ve been taking these last three years.
​

Nick Loris of The Heritage Foundation analyzes the five half-truths in Obama’s speech. The following are encapsulations of what he wrote, which I recommend reading in full.

Half-truth #1: Oil production is the highest it has been in eight years. The increased production of oil and gas in the U.S. is largely a product of increased production on private land. The Administration could have encouraged much bigger gains by providing access to federal land.
Half-truth #2: Increasing oil production takes too long and would not impact the market for at least a decade. The sooner we make investments in domestic energy, the sooner those benefits will be realized. And with some serious reforms, some of this oil can reach the market in much less than a decade.
Half-truth #3: Oil is not enough. America has only 2 percent of the world’s oil reserves. President Obama frequently uses this number to push federal investments in alternative sources of energy that cannot stand the test of the market. The reality is that he uses this number deceptively.
Half-truth #4: Oil is not enough. The country needs an “all-of-the-above” approach to reduce its dependence on oil. While a familiar refrain from the President, it is a line that too often translates into wasteful subsidies for pet energy projects. A market-based strategy is the only all-of-the-above approach.
Half-truth
#5: Speculators are driving up the price of gas, and they need to be reined in. While the President tries to blame the market, he ignores the power of supply and demand. By removing roadblocks to domestic energy production, the President can ensure that there is a healthy supply of American energy on the market, keeping prices competitive.
​

Loris goes on to recommend and discuss five simple logical steps Congress and Obama could do to lower gasoline prices. They are,

• Get moving on permits
• Require lease sales when ready
• Create a sensible review process
• Remove regulatory delays and limit litigation
• Approve the Keystone XL Pipeline
​

These suggestions do not include taking oil from our Strategic Petroleum Reserve, which is in place for emergencies. This is not an emergency for most of us but it is for Obama. Obama’s primary concern is the electability of Barack Obama in November. The fear of potentially falling oil supplies due to Iran and other matters should prompt us to greatly enhance our exploration, our drilling, our production of oil, our pipeline construction, and our refinery construction.
We can count on Barack Obama to do two things. Obama lies about the situation and then portrays himself as working for a solution to the problems that Obama claims were created by George W. Bush and other Republicans.

http://lubbockonline.com/interact/b...bama-distorts-reality-current-gasoline-prices

 

You gotta be kidding...you are using a west Texas "Lubbock on Line" source and you think this is true...

LOL..I feel sorry for you....

 

You keep up the fantastic work you are doing, as I have no time to do it lately,,,make us conservatives proud,,give the leftists the hell they deserve.

DO NOT allow the leftists to use their typical tactics of name calling and the claims of ''you are an idiot'' to alter your determination,,I'll assure you, I'll be back in the game soon.