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Dont you believe we need to do whatever we can to domesticate our energy instead of buy buy buy from the arabs? We might not see $1 a gallon like many wish, and we might not see much change in gas prices. What we will see is less American dollars going overseas!
Anyone seen those American flag pins? They come in plastic wrappings that are stamped with "made in China"
It makes me sick
-------------------- It isn't so much that liberals are ignorant. It's just that they know so many things that aren't so.
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quote:Dont you believe we need to do whatever we can to domesticate our energy instead of buy buy buy from the arabs?
Of course we do!!! And we need to build nuclear power plants; install wind farms; use natural gas; and do solar when the technology is finally there. In other words, we need to do everything and we need to do it now.
Pelosi, Obama, and the socialists are self-destructing over this issue in a year when they should be running away with the election.
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of course i want to do everything we can...
it's the guys getting on TV and equating themselves with the Founders that got me sick...
unfortunately the reality is this:
We increase output by 20% and we are still importing half our oil... the OPEC guys drop production by two percent and they still collect just as much money.... and we send them just as much money...
-------------------- Don't envy the happiness of those who live in a fool's paradise.
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But, if we increase our oil production while decreasing our dependence on it thru alternatives such as wind, solar, nuclear, and natural gas, then we've got a deal. OPEC can decrease their output, increase their prices, but our need will be seriously diminished.
Drilling alone won't solve the problem, but it still has to be part of it. We need to have our own resources. Its a combo deal. Most importantly, NOT relying on foreign oil.
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offshore drilling requires equipment similar to the most sophisticated naval vessels, we are already backordered on it by billions of dollars...
if Pelosi passes the legislation? nothing will happen for years...
maybe a new shipyard will open up? the politics of this are so oversimplified ...
they are still waiting on eqpt to work feilds opened up two years ago and will be for years...
-------------------- Don't envy the happiness of those who live in a fool's paradise.
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quote:We increase output by 20% and we are still importing half our oil... the OPEC guys drop production by two percent and they still collect just as much money.... and we send them just as much money...
If our "leaders" would do their job and go all out to drill domestically; encourage wind farms; shale to oil; natural gas; nuclear; and solar, the futures market in oil would crater and the price of oil would drop significantly. That's the best plan.
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Amaranth did it two years ago, sorry: (i must be geezing )
According to natural-gas investors who traded alongside Amaranth, Mr. Hunter repeatedly used borrowed money to double-down on his bets. Buying more futures contracts of the kind his fund already owned supported their price by increasing demand, propping up paper gains, these traders say. But that support only lasted as long as Amaranth and its lenders were willing to spend cash to buy more contracts. Such trades may also have masked growing weaknesses in market fundamentals, his trading peers say.
the real problem in the futures markets? borrowing:
a surfer posted this link last week:
how do you lose $3.2 billion dollars in crude oil trading and how did that affect the price? The answer is with an obscene number of contracts on the wrong side of a rising market on the short side. That’s smack-dab where SemGroup was positioned, with more (and perhaps much more) than 100,000 short futures and options contracts.
The exact number of contracts that SemGroup actually held short has not been revealed. However, by dividing the total loss listed in bankruptcy filings and published reports, by a reasonable loss per barrel, it’s not hard to deduce the total number of short contracts held. To appreciate what a 100,000 contract position represents, it is the equivalent to 100 million barrels of oil, or more than every barrel produced and consumed in the entire world for a day.
it appears that SemGroup held short positions on more than $15 billion worth of crude oil and perhaps much more. In practical terms, it would take a position of that size going against you in order to generate a loss of $3 billion. You should be asking yourself, how did the NYMEX and the CFTC allow SemGroup, or anyone, to amass such a large position that it, obviously, couldn’t stand behind? What do these regulators do all day?
SemGroup’s large, increasing short position, that position was forcibly bought back (probably by SemGroup’s lead broker, said to be Barclays). This accounted, by my calculations, for the last $15 to $20 increase in the price of oil, up to the $147 price high. When the forced buyback of the short position was concluded, a buying void was suddenly created and prices then fell $20+ to date. So, not only did SemGroup manage to lose over $3 billion and go bankrupt in the process, it also dramatically influenced the price of oil and fuel for the rest of the world.
these guys are running a crap game.... it's not investing anymore at all...
is it right? is it wrong?
if you just put realistic limits on their borrowing ability? alot of this would stop...
however, i'm not a socialist they should be allowed to lose as much as anybody will lend them right? who cares if they take down the entire US economy with it?
this is how the US auto workers lost their jobs... and how the FED is now chock full of mortgage money...
-------------------- Don't envy the happiness of those who live in a fool's paradise.
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they should be allowed to lose as much as anybody will lend them right? who cares if they take down the entire US economy with it?
