Oil going to jump to $4/$5? bastards

Here is what I posted on my facebook but is more appropriate at an outlet like here, so you libertarian scum listen up:

This is complete bullshit:

http://finance.yahoo.com/news/Oils-surge-in-2010-paves-the-apf-1258480888.html?x=0

Bullshit not because it won't be true, but because we have done nothing to stop investments in futures contracts(that are simply rolled over)

In other words, there is absolutely no justification for the price of oil where it's at today. The mythical "supply and demand" for oil does not fucking exist here folks, get that into your heads. The price of oil on the spot market is determined by what the futures market thinks it should be, and when the futures market is dominated by big players like pension/mutual/hedge funds/other bastards who are simply using it as a "sure thing"(in other words, the real price of oil is being determined by groupthink, where these investors are looking to park their money into alternative assets, and where better than a resource every investor thinks will become less and less available as time goes on? forget time lags, these losers are thinking it can happen and will happen anytime now, so ANY SMALL bump in demand for oil, even if there is still an abundance of it on the market, pushes it to new highs...these are the losers who thought $147 or higher oil was justified until a global depression hit).

Message to CFTC: insert those position limits now.
message to conservatives who actually believe this is being dictated by supply/demand: I hope you're happy knowing that you're pushing inequality ever higher. Read this and then go fuck yourselves:
http://real-economics.blogspot.com/2010/12/obama-tax-deal-with-republicans-is.html

 

Thanks for your input.

Too bad for you if you are not able to cope in a speculative world. The ones who do can actually afford a partner when they need to fuck someone, hence you'd better get sharper at speculation or used to these self inflicted backside activities you were mentionning.

 

I do not think oil demand is rising. The world temperatures are getting colder.

 

The IEA has just recently officially admitted for the first time that world wide conventional oil production has probably peaked in 2006 and will never surpass that high mark *ever* in the future.

The fact that oil can be this high when the economy is in the worst recession since world war II while at the same time crude inventory level is near historic high is something to think about.

Speculators rush into something when they think they've spot an opportunity. They don't just buy up whatever they like and charge any price they want. If they could they would have bought up all the air and water in the world and put an obscene price tag on it. The basic supply and demand imbalance has to be there in the first place.

Now, think what would happen when the economy picks up.

 

"How much does it cost our economy to move around this much financial paper each and every day? Let us assume that the fees, commissions, and so on paid to the financial system for all this frenetic activity amount to one percent. (An October 2003 study conducted by John P. Hussman, President of Hussman Investment Trust, found that the costs to the funds he manages actually amounted to approximately 1.87%; scroll down to the bottom.)

So, one percent of three trillion a day is $30 billion in commissions / fees / bonuses, etc., paid to the financial system for all that paper being shoved around. $30 billion a day going to the financial system in fees and commissions? Couldn’t that be used instead to pay 600,000 (six hundred thousand) jobs paying $50,000 a year?"

Taken ten days of trading away from the financial markets, and we can pay for six million jobs. Six. Million. Jobs.


Even if these numbers are accurate what would these people be doing? Creating a bureaucratic nightmare for citizens and business people? I also think that all those financial institutions employ quite a few people themselves. This is a really interesting problem. It seems like technology is to blame for much of this country's problems. Technology contributes to the crazy hft phenomenon it also makes businesses so productive we just don't need as many workers. I have no problem paying taxes as long as I understand what I get for my money, safe borders and defense of constitutional rights, a quality education system, fair commerce, safe drinking water and infrastructure, maybe affordable health care etc. 2 outta 5 ain't bad I guess. It would be so easy if we could just freeze time and start from scratch without a two party political system. If the American people are outraged enough about large speculators why not just slap regulations on them to limit the size and scope of their influence. I can't see how taxing them into oblivion would be any better since those tax dollar would just be pissed away. Wouldn't some of those quality of life factors I mentioned be easier to manage on a state level? Why not have a low flat federal tax and let each state create there own system that works for them. This country is so large and diverse it seems crazy to think a few hundred politicians know what would be best for us. I'll stop rambling now and thanks for posting the interesting blog at least it makes people think. Lower taxes might not help the majority of Americans but I can't see how higher taxes help them either until our leaders can spend the tax dollars they already receive in an efficient manner and there is proof we actually get something for our money.

 

The trend is toward more centralization and what is best for DC and Wall St., not the country as a whole. This post makes too much sense, therefore, it will never be implemented.

 

You mean gasoline going to $4 right? As gas and food are nmot part of the core CPI, we will see if this jump in prices gains anny political attention.

 

dc and wal street are also careful to appease the saudis,the run up to 140 may have been a payment for the aquisition of mideast soil and new wells installed over the last several years,duration of curent war

 

Ovomit and the Dinocrats want energy prices to go higher - much higher. They think if they push/allow oil prices to go higher it will help their green energy agenda get going. While it is true that it will, it will also create another recession/depression in America to make this transition quickly. Especially since we haven't decided on the best approach to energy independence. It is going to be a very painful transition if we don't change how and when we are going to transition from oil

 

I agree. Oil is currently in US strategic interest, therefore, I would be shocked if US ever leaves Iraq completely, which was the real reason for Iraq conflict, imo.