The price of oil

nate45
The price of any commodity can be manipulated.....
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and then
As far as explaining it goes, I don't care to launch into a long winded explanation....
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Well, that clears things up, for sure.

Since however this thread is about energy prices, I will site an example that pertains to it. First let me say that is very hard to convict someone or some group of market manipulation........In 2006 BP was charged by federal investigators with causing a 50% rise in the price of propane in early 2004....
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And the outcome of those charges was what?
 
Market manipulation

Market manipulation has gone on for a long time, especially in the food sector. Take a look at the farm subsidies that go on in the United States. There is no such thing as a free market in the world food market. If you think otherwise, just read the Wikipedia entries for agricultural subsidy and for agricultural policy. If you can prove to me that either of those don't manipulate the market, then we'll talk about energy market manipulations.
 
So I guess the overall consensus is that many people here are against Congress doing anything to make sure the oil market isn't being manipulated? Is that correct? If you are not against Congress doing something about the oil market being manipulated, please clarify your views, because many of you in here are coming off that way.
 
milemission said:
So I guess the overall consensus is that many people here are against Congress doing anything to make sure the oil market isn't being manipulated?
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Classic case of begging the question. Politicians do it all the time.

"Every day, kids die in accidental shootings. So, are you telling me that you're against Congress doing anything to make sure that our kids and our future generations are protected? Don't you care about the children?"

Thanks for playing.
 
The price of oil is high because it is:

1. Traded
2. Taxed
3. Subject to supply and demand economics

Any solution ignoring one or more of these factors is bound to fail, regardless of intent. They also seem to be backed by political and ideological forces as much or more so than altruistic or practical concern over the actual cost of oil.
 
Yeah... about that. Let's wait till there's a war, then send the geologists and engineers to our offshore and land-based oil fields...

"Uh mister general sir. Well, we think there might be oil here but we're not quite sure. It's gonna take awhile to perform tests, and then a good while longer to lay down the infrastructure. Frankly sir, why didn't you guys allow us to explore here before SHTF? Tell you what, you hold off that invasion for 2 more years, and you'll get that oil."
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I am not sure from the above if you are in favor of pumping more domestic oil now or not. I would favor exploring, drilling, capping the wells, and then waiting til we really need it to use it. I agree we should not wait until our domestic oil is our only supply before we start exploring, but I don't favor using up our nations resources now just to try and lower the cost of gas by a dollar a gallon.
 
People say money is the root of all evil, and it leads straight to Oil. Oil is the standard currency of the World, and is the most corrupt regulated consumable ever to be manipulated~
 
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