Market Manipulation of Oil and Food Prices

Gee whiz, I just asked a couple of days ago if the Democrats would move towards nationalizing the oil industry.  Some of you may have thought I was being over the top—a little juiced up on rhetoric.

Well, say it ain’t so…Congressman Maxine Waters actually brings it up!  She doesn’t know what to call it, but she says that government might just take over the oil industry!  

And check out Tennessee Congressman Steve Cohen (D) from Memphis.  He can’t help but smile–not because of her crazy idea.  Congressman Cohen smiles because Congressman Doofus doesn’t even know the word “nationalize”, but she knows what she wants!  The same thing as Chavez and Mugabe!  

Watch the video here at Hot Air.

And I’ve got more information on speculators driving up the price of oil.  The mainstream media has only mentioned it in passing, instead choosing to focus on the so-called “obscene” profits of oil executives.  (And what of Katie Couric’s obscene profits?)

At these links, here and here:ssg-5-23-08-lo-in-the-hearings-a-star-appeared, you can read about the new wave of speculators driving up the cost of fuel and food.  And as noted by Wayne Jett, a little known clause known as the Enron Clause, has allowed trading of oil futures to go unreported and unmonitored.  And do you think there’s room there for a little November politics to be played?  You betcha’!

Be sure to contact your Congressman and U.S. Senator about this subject.  Print off the above information. Mail it to them.  Fax it to them.  And ask that they ask more questions.

You and I don’t need our wallets raided because of market manipulation.

From Michael Masters testifying in May hearing on the subject:

You have asked the question “Are Institutional Investors contributing to food and energy price inflation?”  And my unequivocal answer is “YES.” 

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Don’t confuse them with facts; their minds are made up!! Simple solutions always appeal to simple minds. And I guess Waters is letting her very simple mind show.

Now I have to go and wash the beach sand from my laundry.

Waters is a twit. What do you expect from a Chavez supporter.

Between this, global warming and taxes, I’m getting really frustrated at the misinformation being put forth by politicians to get votes. And, our wonderful “non-biased” mainstream media just goes right along with it.

This country is in serious trouble… Not only do we have issues and non-issues, the “solutions” being put forth by the Left will only make them worse.

Don’t like oil prices — let the government run the oil business.

That’s got to be just about the dumbest thing I’ve ever read. Earth to Congress, inaction by the government over the past 20 years has exactly led to this crisis. Did we not have an energy crisis in the late 70’s due to foreign control over our energy consumption? And, what exactly have we done to remedy this in the past 30 years? No new drilling, no new refineries, increase in taxation on consumers and oil companies, etc…

Sorry about my jumbled post above. Taking the kids to the zoo and only had about 2 minutes to type…

Thank you veterens on Memorial Day.
Ty

Ty, I think what you are implying is that there are shortages; there are none. If so, then where are the lines at the gas stations? You can buy as much as you can pay for.

Understandable considering she asked JPL if the Mars rover would be able to send back pics of the flags left by the Apollo moon missions. She is clueless about economics, markets and especially the oil industry. I wouldn’t let her walk my dog.

Yet these are the morons controlling the destiny of our country. Geesh!

It is clear that Ms. Waters poses no threat to taking over the oil industry.

Is is possible that we could eventually reach a point where the government would have to take it over?

I consider strong-arming OPEC nations to continue to accept only US dollars for their exports to be taking it over.

OPEC nations that have accepted other currencies (Euro)contrary to our “agreement”:

Iraq
Iran
Venezuela

You do the math.

“It is clear that Ms. Waters poses no threat to taking over the oil industry.” I bet there would have been takers on a similar bet about B-HO 3 years ago too.

I would bet that she voted for agricultural subsidies too!

I don’t understand why there are so many in this country that are afraid to act like this is the greatest and most powerful nation on this earth at this time.

I guess they would prefer to speak another language and to abandon our values when we allow someone else to take over that role. There are other nations that want that job but who might not be as fair or even handed as we. They certainly aren’t known for their freedoms like we are.

But live and learn. There are those who stuck their heads in the sand during history class and are therefore just going to have to have history repeat itself so that they can learn first hand. It’s like a “Wet Paint” sign, there is always that idiot who has to touch that paint and mess it up because he isn’t smart enough to think it through to the end.

I could be wrong as I was barely alive, but I think the shortage in the 70’s had to due with a drop in production by OPEC. Again, I may be wrong.

Shortage or not, we are still beholden to foreign countries that would just as soon destroy our economy – if it wasn’t intertwined with their own. This is unacceptable. We ARE the greatest nation in history. It’s about time we started acting like it. To hell with tin pot dictators like Chavez and Ach-whateverhisnameis. To hell with those in our own country that jump at the chance to shove their socialist-loving, green-ness down our throats.

The bottom line is this: If we are really headed for an energy crisis, then our leaders need to get their heads out of you-know-where, and start finding solutions.

The oil embargo did cause gas issues, but price controls also did a lot of damage. Old oil was price controlled whereas new oil was not. I am not a rocket scientist but I can guess which type of oil I would be selling if I were an oil company, can’t you? And thanks to price fixing their profits went UP! The price fixing didn’t help at all then and it won’t now. It never does.

We must remember one very obvious, yet overlooked fact of life: we ALL are doing things in our own best interest. The oil companies do what is in their best interest. The price you WANT to be is in your best interest. Not many entitlement recipients vote to end their welfare payments. Certainly no agri-company is going to vote to end farm subsidies even though they are sending jobs to Mexico since our government pays them NOT to grow stuff here. So by virtue of whining and crying, one party is now more important than the other? I have a suggestion, why don’t you invest in oil company stocks? Get some of the money back and stimulate the economy! Profit and bettering one’s financial position is why we all go to work everyday. You want to take the oil companies profits, and then ask why they should go on? Would you go to work everyday if they told you that they were going to quit paying you? I doubt it. And nationalizing them is not the answer either. Look at the great successes in public education and ask yourself if they could do any better with oil. After all, that will be a whole lot of money; do you think that those politicians could keep those hands out of the cookie jar?

Oil prices just dropped $8 a barrel. Did your pay?

If we had allowed the Dubai Ports Deal to go through then at least the Arabs would be feeling the pain with us in their US business. I wonder how Maxine Waters looks to the average Arab? If it is OK for the government to steal property, what assures then that the government will only apply that theory to its own citizens. If Bush is all about the oil, What is Maxine Waters all about?

[...] on the subject.  Did he ever raise any questions?  I never saw a press release even though folks like us were raising these very issues back in May of [...]



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