oil speculation

Home » oil speculation

Friday Afternoon News Roundup

Legendary drummer of The Band has died.

Space Shuttle Discovery has found a new home.

The president of the Catholic League would like to boycott The Daily Show because of “an unprecedented vulgar assault on Christians.” Well, as a Christian, I haven’t seen or felt the unprecedented vulgar assault by Jon Stewart. but maybe it is there. Maybe this is much to do about nothing. It would seem to me that Catholics should be outraged over the GOP budget plan that would gut all social services and put the poor out on the streets. But what do I know.

Michele Bachmann is clearly missing the spotlight that she had just a few months ago. She used the thoughtless a metaphor when she said, “This is about waving a tar baby in the air and saying that something else is the problem.” As usual, Michele Bachmann does not understand the issue. I don’t really think she understands the metaphor. It is extremely unfortunate. By the way, she was trying to say that Barack Obama had the tools to regulate oil speculation. Unfortunately, she is wrong.

It appears a Black firefighter in England  got tasered by the police.

More corporations are leaving The American Legislative Executive Council (ALEC). This is good.

60 new archaeological sites dating back almost 6000 years have been found outside of Rio.

I know that everyone was looking forward to seeing a timeline on the Secret Service prostitution scandal. Well, here it is.

George Zimmerman’s bond hearing was today. His bond has been set for $150,000.

The 100 best apps for android. Some of these apps are plenty cool.

The history of GPS. GPS has only been available for about 10 years. 20 years ago, we all had these ridiculously folded maps. Now, GPS comes on our cell phones and is quite accurate.

By |2013-11-03T16:39:22-04:00April 20th, 2012|Domestic Issues, Economy|Comments Off on Friday Afternoon News Roundup

We Need Real Regulation

I don’t know. There’s a variety of clichés that seem to be apropos – those who do not learn from history are forced to repeat it. It is déjà vu all over again. There are probably a few more that I can’t think of off the top of my head. We did this oil speculation thang just two years ago. It’s almost exactly two years ago. Oil prices rose for no apparent reason pushing prices at the gas pump over four dollars per gallon. We were in the middle of a presidential election. Neither presidential candidate had a good explanation. In hindsight, it was nothing but speculation. Wall Street simply bid up the price of oil, which cost us millions of not billions of dollars. Now, we have unrest in the Middle East but there’s no problem in the oil supply. None. So why is the price of oil/gas going up on a daily basis? The only logical answer is that oil speculators think there “might” be a problem in oil supply sometime in the near future. Because they are nervous, we need to pay more?!?!? Does this make any sense to you?

We need real regulation that protects middle class America from money-hungry Wall Streeters.

Visit msnbc.com for breaking news, world news, and news about the economy

From TP:

As the segment notes, during the last spike in gas prices in 2008, then-candidates Obama and McCain both assailed commodity speculators and called for increased regulation. The Dodd-Frank financial regulatory reform law gave the Commodity Futures Trading Commission the power to curb “excessive speculation” by limiting the bets speculators can make, and called on the commission to do so.

Unfortunately, opposition from the commission’s Republicans — and one Democrat, Michael Dunn — has so far prevented the CFTC from acting to regulate dangerous speculation on gasoline and other commodities. But Dunn’s term is ending this summer. The White House told the Ed Show it is “vetting” replacements — but would not say if they’re looking for a nominee that favors rules to curb excessive speculation.

Will the White House choose a candidate that wants to follow the law of Dodd-Frank, and insulate gas prices from predatory Wall Street speculators? It would certainly be a much more effective way of controlling gas prices than listening to conservative cries of “Drill, Baby, Drill.”

By |2011-03-09T07:40:58-04:00March 9th, 2011|Big Oil, Economy|Comments Off on We Need Real Regulation
Go to Top