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Solution to high pump price

What is causing high pump prices and high food prices ? Unregulated??..Rampant? Speculation !

A former commodity trader testified before the US Senate in May, 2008, that hundreds of billions of dollars of speculative money has poured into the commodities markets since 2003, driving the average cost of commodities indexed up 183% without any significant increase in actual demand.

Speculators are increasingly buying and selling commodities such as oil to sell again, rather than to use. ???the volume of oil traded ?on paper? has been as high as 22 times greater than the volume of oil consumed. This has caused severe market imbalance and upset the natural relationship between supply and demand.

Read on: http://www.stopoilspeculationnow.com/site/page/the_problem


The Solution to the problem ? You and I.!!!!!!!!!

We need to get off our duffs and write to our elected officials in Washington DC ?demanding? they get off their duffs and enact legislation

Here?s what they need to do: http://www.stopoilspeculationnow.com/site/page/the_solution

Want $2 gas ? Write Congress today. If you don?t write and demand, you shouldn?t complain.

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Tell me why I don't use CNG?

In reply to: Solution to high pump price

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I think it has more to do with...

In reply to: Tell me why I don't use CNG?

the fact that Honda is not advertising it at all. I've seen lots of Honda ads about their hydrogen car, which isn't even on the market (and Which I don't think is very practical at all) but never one for a natural gas car that you can buy now.

As for the filling stations, it would not be that hard to install those devices at gas stations. Isn't that what Boone wants to do?

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Keep that 2.11 buck a gallon in mind....

In reply to: I think it has more to do with...

I see Boston city works has more CNG in their fleet to help curb fuel costs. And you are getting the message from Boone correctly.

But my feeling is that such a system is not popular with the current gasoline companies since it would cause demand destruction.
Bob

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Possibly....

In reply to: Keep that 2.11 buck a gallon in mind....

But he gasoline companies are probably in a good position to become natural gas companies if they haven't already. That still doesn't explain why Honda isn't advertising this product. Are they in collusion with the oil companies?

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Ya'think?

In reply to: Possibly....

There are many estimates about how much oil there is so let's skip that part and head to the meat of the matter.

-> There is still some 70 to 100 trillion dollars (maybe more?) of oil business to be done before they are tapped out. Anything that could remove demand or destroy demand is ___________________(fill in the blank.)
Bob

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I doubt the oil companies are that worried....

In reply to: Ya'think?

It would take a very long time to "destroy" demand for oil and, as I said, probably easier just to jump in and take over as much of the natural gas industry as they can than to suppress Honda from advertising their natural gas car.

Never attribute to evil what you can to stupidity.

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A tried and proven solution already exists

In reply to: Solution to high pump price

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Think of all the jobs it would generate

In reply to: A tried and proven solution already exists

People to clean up all the poop and hose down the urine not to mention the increase in feed and barn building. Devil

Diana

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ha, think of all the taxes we'd save.

In reply to: Think of all the jobs it would generate

Until they decided to start taxing horses or buggies more than they currently do. Probably put a tax on every bag of oats, pass a poop tax and then form the Bureau of Horses,Oats & Manure department to enforce it with flak jackets and machine guns.

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(NT) More jobs ;-)

In reply to: ha, think of all the taxes we'd save.

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I can agree...

In reply to: Solution to high pump price

Feeding on fear is too easy. Easy because you can create your own market and exploit it. I'd like to have it suggested that those who buy and sell this way need to take actual delivery of the product before they can resell it. Livestock, barrels of oil and all.

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Speculators are increasingly buying and selling commodities.

In reply to: Solution to high pump price

such as oil to sell again, rather than to use.

Isn't that what all investors do?

I doubt your "solution" is fair or would work.
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I couldn't help but notice...

In reply to: Speculators are increasingly buying and selling commodities.

I couldn't help but notice that that Stop Oil Speculation Now organization seems to be composed in large part of airline related companies.
Airline companies buy fuel at a set price for later delivery to "lock in" the price. Is this not the same thing? If they get their way, will they still be allowed to do it, or will the limits on buying future deliveries just be on everybody else?

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Bottom line, IMO..............

In reply to: Solution to high pump price

The US Congress is the only entity that could, and should, cause relief in the USA.

Following precedent of everything else the Congress does, it will
require diligent oversight and tweaking. The Congress "should" and "can" do something NOW that will have immediate impact.

Foreign markets will follow, in as much as the "pain at the pump" is
being felt world wide.

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Congress is largely the cause of the problem....

In reply to: Bottom line, IMO..............

expecting them to fix it is probably not in the realm of reality.

Instead of pointing fingers at investors, we should demand more drilling and fewer taxes.

$2 a gallon is probably never going to happen. Suck it up. The rest of the world has been paying well over $4 for years now.

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You judge America by the rest of the world?

In reply to: Congress is largely the cause of the problem....

What the rest of the world pays is their business. Has nothing to do with what I expect to pay. Much of their higher prices are due to higher taxes anyway. Tired of hearing about the rest of the world this or that, since I don't live there. I live here.

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That's not what I said. Not even close....

In reply to: You judge America by the rest of the world?

But the reality is that we are not going to be seeing $2 a gallon again. It is a WORLD market after all. Whether you know it or not, you DO live in the same world as everyone else.

Phil Gramm was right.

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I prefer less government

In reply to: Solution to high pump price

I couldn't agree with more regulation. Less regulation on drilling would achieve the same result in my opinion and it would be a result achieved with less government instead of more.

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but...less government won't justify higher taxes.

In reply to: I prefer less government

and with democrats in control of congress, and maybe soon the presidency, we MUST have higher taxes.

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Don't overlook, or forget, Folks.......

In reply to: Solution to high pump price

All of the "big boys", in any commodity field are realizing financial advantages from the high prices. Governments at all levels are
realizing windfall cash in-flow in the form of taxes, and particularly
so with oil, in the form of royalties

The "pain" exists only at the point of "consumer" purchase.

It doesn't need explaining, high prices are the only thing that will drive
exploration and development that will eventually wean us from our
security threatening dependence upon foreign oil.

If the speculation game isn't brought into some kind of control, $4 gas
might seem cheap in the not too distant future. Food prices ?????

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If the speculation game isn't brought into

In reply to: Don't overlook, or forget, Folks.......

some kind of control...

But then, what you said in the previous sentence: high prices are the only thing that will drive
exploration and development that will eventually wean us from our
security threatening dependence upon foreign oil.
Will never come true, will it?

I think "speculators" are merely the boogeyman du jour.

If I fear anything, it's government "control" over prices and scapegoating investors. How much oil stock in your pension or 401K? Are you a "speculator" too? What's in your wallet?
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Also...

In reply to: Don't overlook, or forget, Folks.......

Also consider that a barrel of crude just closed at $147. With 42 gallons in a barrel that works out to $3.50 a gallon for the crude. The days of $2 a gallon gasoline are gone and probably won't be back.

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