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Lemme ask you something....
It seems everyone is worried about the rising cost of oil. My question is why is it rising? Obviously there is more demand from "developing" countries like India and China but demand drives price correct? So who is driving the price? Someone has to be selling it right? So who in the market which trades in oil futures is setting the price for a barrel of sweet crude?
When the news comes on at night as says oil is up on worries that a hurricane off the coast of somewhere might disrupt supply. Question: WHO's worried?
There has to be someone...a person...or several people that are speculating on the price of oil today and what it will be in the future. Find them and kill them and the price will come down.
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As is evident in the current socialist economies of Europe. For example, in the article below it relates how the cost of diesel fuel in Great Britain is now hovering around $10/gallon and 65% of the price is TAX. That's right, 65% of the cost is a crippling tax structure to keep a bloated Nanny State's bureacracy "working", while their transportation industry faces ruin. The same fate Al Gore and Obama and Ted Kennedy and their looney tune far left "green" stalwarts wish for us.
Socialism At Work
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There absolutely is a quick fix.
Now,
When is the Commodity Futures Trading Commission going to step up and enforce the laws already in place restricting the enormous amount of pure speculative trading in oil futures which according to many is now responsible for 60% of the price of gasoline?
Why did the CTFC think it was a good idea in 2006 to allow New York Traders to buy Oil Futures on the International Commodities Exchange without any regulation to control speculation by the CTFC? Oil has risen since then from $60 per barrel to the current $130 with no real change in oil market conditions.
When will the media report on the June 2006 US Senate Permanent Subcommittee on Investigation's findings on "The Role of Market Speculation in Rising Oil and Gas Prices?"
This is yet another false completely orchestrated commodity run. Do you see any one waiting in line for fuel? There is no shortage.
This bubble will pop just like the housing bubble, the dot com bubble, and all the other false runs we have seen in the past.
How about the CTFC do their job, and congress step in to pop the boil before it poisons the whole body so we wont have the same problems we are having from the housing market boil that turned into a staph infection?
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65% of the cost to end users is TAXATION. My whole point was about the socialist govt thinking it deserves 65% of the cost in TAXES. I already know about the speculative bubble drivign up prices. I hope it bursts and those driving upn the prices lose their shirts.
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Wait! There are hidden taxes in this country?!
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The gas prices are so high because the Army Rangers aren't doing anything about it. You wanna get the job done right? Send in the JAGs....
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Yeah but they are called "subsidies" here Gae. I think our direct gasoline taxes account for about 1/3 of the pump price.
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It's all those sissies on four wheels, I filled up yesterday for less than $15.00
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I have a free bus card from the State of Ohio. Don't no why everyone is whining so much about the cost of gas. RIDE THE GODAMED BUS YOU LOSERS.
