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Déjà vu: Energy Prices

Fort Worth Star Telegram -- It's hard to believe it's been two years this month since this column first revealed that speculators were running riot in the oil futures market.

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Submitted Mar 12, 2010 By: GoWest

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brbaritone Champion Author Virginia Posts:1,069 Points:1,270,505 Joined:Jan 2007	Message Posted: Mar 13, 2010 12:18:06 PM Ignore brbaritone Report Abuse Please read the whole article - there's a lot of very interesting information. The author states third-world demand, including China, was substantially lower last year than the year before. The oil and gasoline markets are oversupplied. Oil demand peaked in 2005. Oil prices have shot up from $33 to $82 dollars in 13 months. I don't like it, but it is becoming increasingly clear that the only solution is regulation of the oil markets to limit speculation.
amerk73 Champion Author Dallas Posts:4,711 Points:1,156,250 Joined:Oct 2008	Message Posted: Mar 13, 2010 11:36:05 AM Ignore amerk73 Report Abuse it to be go back $40
ENORMS Champion Author Colorado Posts:3,014 Points:1,172,310 Joined:Sep 2006	Message Posted: Mar 13, 2010 10:33:38 AM Ignore ENORMS Report Abuse The speculators keep pushing up the price of oil until it kills the economy and puts more people out of work.
CobraLeader Champion Author New Jersey Posts:267,902 Points:1,200,750 Joined:Apr 2007	Message Posted: Mar 13, 2010 12:20:43 AM Ignore CobraLeader Report Abuse ... AND this process will continue to happen until the Speculators get regulatory FIRED! ... [Edited by: CobraLeader at 3/13/2010 12:21:31 AM EST]
dbatw Champion Author St. Louis Posts:1,686 Points:341,165 Joined:Apr 2009	Message Posted: Mar 12, 2010 11:55:40 PM Ignore dbatw Report Abuse sounds like Déjà vu all over again....
Muke Champion Author Virginia Beach Posts:3,011 Points:754,540 Joined:Jun 2007	Message Posted: Mar 12, 2010 11:54:07 PM Ignore Muke Report Abuse o.k.
ItsMorph Champion Author Grand Rapids Posts:30,088 Points:2,721,175 Joined:Mar 2004	Message Posted: Mar 12, 2010 11:52:50 PM Ignore ItsMorph Report Abuse They've been allowed to run free once again.
Bus561 Champion Author Lexington Posts:14,076 Points:2,753,105 Joined:May 2004	Message Posted: Mar 12, 2010 11:49:28 PM Ignore Bus561 Report Abuse Are you just now finding this out, we have known this all along. What else is new?
jjw0608 Champion Author Milwaukee Posts:5,198 Points:1,364,990 Joined:Nov 2005	Message Posted: Mar 12, 2010 11:40:29 PM Ignore jjw0608 Report Abuse So what else is new?
MiniFan Champion Author California Posts:2,223 Points:749,050 Joined:Nov 2008	Message Posted: Mar 12, 2010 11:37:44 PM Ignore MiniFan Report Abuse and the gas was going close to $5
hank1326 Champion Author Los Angeles Posts:6,696 Points:1,280,490 Joined:Jun 2008	Message Posted: Mar 12, 2010 11:31:58 PM Ignore hank1326 Report Abuse Huge ditto to tnsilvertip. We got a aimless new prez with myopic followers. God help us!
tnsilvertip Champion Author Tennessee Posts:1,275 Points:480,960 Joined:Oct 2005	Message Posted: Mar 12, 2010 11:26:17 PM Ignore tnsilvertip Report Abuse Great article. Too bad the idiots in DC can't read or don't care.
toadNY Champion Author Albany Posts:4,558 Points:1,046,550 Joined:Apr 2008	Message Posted: Mar 12, 2010 11:23:30 PM Ignore toadNY Report Abuse OBUMER talked change, Join the AMERICAN REVOLUTION to VOTE ALL INCUMBENTS OUT IN 2010 & OBUMER IN 2012 & THE REST OF CONGRESS IN 2014 IF NOT LATE.
timarcos Champion Author Corpus Christi Posts:3,625 Points:744,210 Joined:Jul 2009	Message Posted: Mar 12, 2010 11:21:46 PM Ignore timarcos Report Abuse liar liar liars
CPGas1815 Champion Author Michigan Posts:4,176 Points:726,480 Joined:Apr 2008	Message Posted: Mar 12, 2010 11:20:08 PM Ignore CPGas1815 Report Abuse "BIG OIL" has pumped so much of their economic might into the pockets of our elected representatives, it is no wonder that those whom we elected that should be serving the best interests of their constituents are instead serving only the special interests of those that bought them. Lobbying of Congress to curry favor for the passage of legislation that only benefits any single industry should be permanently prohibited. You know, for decades our government has provided subsidies to the oil industry to develop alternative fuels. During all that time, I know I would have taken notice of any revolutionary developments. Instead, the &*#%^%&! (chose your own expletive) oil industry has stuffed their own pockets to excess while they've picked our pockets of every penny that they can steal. The manner in which the energy markets are regulated need to be revolutionarily altered. The first step would be to eliminate speculative pricing of all energy products. Most all of the services that we purchase have a fixed monthly price. But our costs for the energy that we have no other choice but to consume are determined by a speculatively derived market price. Eliminating the speculation of all energy commodities will dramatically lower prices both at the pump as well as on our electric, natural gas and/or fuel oil bills.
ILANGE9 Champion Author Illinois Posts:5,190 Points:1,131,750 Joined:Sep 2008	Message Posted: Mar 12, 2010 11:09:42 PM Ignore ILANGE9 Report Abuse Speculators = GREED.
goodbuy Champion Author Michigan Posts:5,509 Points:991,935 Joined:May 2005	Message Posted: Mar 12, 2010 10:58:54 PM Ignore goodbuy Report Abuse Speculators should be illegal.
mstearno Champion Author Dayton Posts:5,867 Points:1,286,185 Joined:Jan 2008	Message Posted: Mar 12, 2010 10:52:34 PM Ignore mstearno Report Abuse every year Same OS
FastAndy Champion Author Indianapolis Posts:4,406 Points:1,576,700 Joined:Jun 2007	Message Posted: Mar 12, 2010 10:51:24 PM Ignore FastAndy Report Abuse Oil prices are headed up as the economy improves, hopefully not fast enough to stop our recovery.
pitamon Champion Author Philadelphia Posts:3,647 Points:1,495,785 Joined:Sep 2004	Message Posted: Mar 12, 2010 10:50:44 PM Ignore pitamon Report Abuse If you did not believe that the speculators ran the market, you must be living in a hole. Speculators have caused the fluxuation in the market and we pay the price.
oldiesman Champion Author New York Posts:4,216 Points:1,763,875 Joined:May 2006	Message Posted: Mar 12, 2010 10:47:32 PM Ignore oldiesman Report Abuse This is just the opening salvo, more to come in the next year or two.
DrCashFlow Champion Author Massachusetts Posts:4,780 Points:1,169,630 Joined:Jun 2008	Message Posted: Mar 12, 2010 10:45:05 PM Ignore DrCashFlow Report Abuse anytime other people's money is involved, the speculators have license to kill.
OGW Champion Author London Posts:3,344 Points:1,113,970 Joined:Sep 2005	Message Posted: Mar 12, 2010 10:36:25 PM Ignore OGW Report Abuse It is funny that some newspaper thinks they revealed it two years ago when most of us have been talking about for over four years.
smoketown Champion Author Cincinnati Posts:3,989 Points:933,515 Joined:Feb 2008	Message Posted: Mar 12, 2010 10:35:18 PM Ignore smoketown Report Abuse SNEAKERS 55 YOUR RIGHT ON LAST SENTENCE ABOUT TRICKY DICKEY..
cutter1330 Champion Author Oklahoma Posts:5,718 Points:1,229,565 Joined:Jul 2005	Message Posted: Mar 12, 2010 10:34:19 PM Ignore cutter1330 Report Abuse Deja voodoo, me thinks.
mrbee Champion Author Little Rock Posts:1,445 Points:2,000,880 Joined:Oct 2005	Message Posted: Mar 12, 2010 10:29:27 PM Ignore mrbee Report Abuse Mmmm.
Sneakers55 Champion Author Houston Posts:43,346 Points:1,712,105 Joined:Nov 2005	Message Posted: Mar 12, 2010 10:29:01 PM Ignore Sneakers55 Report Abuse uptherefiners wrote: >hey signwiz: >Speculators by definition are people who put their money >in ANY investment vehicle expecting an increase in value. >Should we regulate against your retirement account? I have observed most of the posters on here are of two minds at the same time. When it comes to what somebody else is getting, they want to be a Socialist. When it comes to what they are getting, they want to be a Capitalist. I can remember Tricky Dick Nixon's wage and price controls. They worked much better on wages than they ever did on prices. [Edited by: Sneakers55 at 3/12/2010 10:29:46 PM EST]
Number43 Champion Author Lexington Posts:6,298 Points:1,190,855 Joined:Oct 2008	Message Posted: Mar 12, 2010 10:22:39 PM Ignore Number43 Report Abuse The same banks that were too big to fail are too big to proscute. It used to be OPEC was the one playing with oil prices. Now they don't have too because the big banks are doing it for them. The fact that there is too much oil is not a issue as long as you can controll the price.
Jeff4U Champion Author Atlanta Posts:5,963 Points:1,385,630 Joined:Nov 2004	Message Posted: Mar 12, 2010 10:20:50 PM Ignore Jeff4U Report Abuse A double-dip recession is lurking just around the corner. Oil will be a factor but Obama will put the final nail in the coffin with his massive spending spree. [Edited by: Jeff4U at 3/12/2010 10:23:37 PM EST]
Bert2010 Veteran Author Columbus Posts:431 Points:184,095 Joined:Feb 2010	Message Posted: Mar 12, 2010 10:18:23 PM Ignore Bert2010 Report Abuse The more things change the more they stay the same. When there are long lines at th epumps like in the 70's what will happen then?
Number43 Champion Author Lexington Posts:6,298 Points:1,190,855 Joined:Oct 2008	Message Posted: Mar 12, 2010 10:17:41 PM Ignore Number43 Report Abuse Prices are going up because they ( bankers and hedge fund operators)can get away with it. And if the bubble burst then they will again turn to uncle sam with their hands out. Why do you think credit is tight, they ( the big banks) are making more money playing ( with) the oil market.
DABEE1073 Champion Author San Diego Posts:5,690 Points:1,106,740 Joined:Jun 2008	Message Posted: Mar 12, 2010 10:14:08 PM Ignore DABEE1073 Report Abuse IF WE HAVE SUCH A GREAT SURPLUS OF CRUDE OIL IN THIS COUNTRY WHY ARE PUMP PRICES STILL GOING UP AND UP. ME THINKS GREED WOULD BE THE ANSWER.
lightbulbman2008 Champion Author Worcester Posts:187,204 Points:1,120,175 Joined:Oct 2008	Message Posted: Mar 12, 2010 10:13:59 PM Ignore lightbulbman2008 Report Abuse GIVE THEM SOME TIME THEY WILL RETURN IN A MAD RUSH.
rollma2 Champion Author Montreal Posts:1,181 Points:261,125 Joined:Jul 2009	Message Posted: Mar 12, 2010 10:03:06 PM Ignore rollma2 Report Abuse mais oui un deja vue......
Rick52 Champion Author Milwaukee Posts:9,422 Points:738,335 Joined:Mar 2005	Message Posted: Mar 12, 2010 10:02:05 PM Ignore Rick52 Report Abuse The untold Unemployment rate is really at 16-17% now !!!!!!
altima2008 Champion Author Philadelphia Posts:5,793 Points:1,272,305 Joined:Apr 2008	Message Posted: Mar 12, 2010 9:54:35 PM Ignore altima2008 Report Abuse Dellman said "Obama could have stopped the speculators last year if he had wanted to. He still could, but this would go against his ideas of making us dependant on him and his liberal friends. It would only take the EPA to start enforcing the rules they came up with over 6 months ago. Start making the speculators pay 75% of the cost instead of 25% and you will see a drastic drop in speculation and prices." Who do you think is going to contribute to his campaign fund for when he runs for his second term in office, the specualtors. You think hes only going to stick around for just 4 years to demolish this country? You don't wanna bite the hands that feeds you. Nobama has no problem with us paying $4-5 a gallon for gas, then lying to us and trying to convince himself that the county is on the rebound. Unemployment close to 10% is unacceptable and I have a really bad feeling after the summer the rate will be closer to 12-13%.
judgemobile Champion Author Ohio Posts:5,250 Points:1,984,220 Joined:Nov 2005	Message Posted: Mar 12, 2010 9:54:17 PM Ignore judgemobile Report Abuse speculators CREATE demand--and then when the prices go up, THEY SELL and make money while we pay at the pump. This is nothing new.
mplato Champion Author Columbia Posts:5,987 Points:1,365,245 Joined:Jun 2004	Message Posted: Mar 12, 2010 9:53:15 PM Ignore mplato Report Abuse roller coaster ride.....
Rick52 Champion Author Milwaukee Posts:9,422 Points:738,335 Joined:Mar 2005	Message Posted: Mar 12, 2010 9:50:42 PM Ignore Rick52 Report Abuse READ the article THERE IS NO DEMAND !!!!!!!!
USAFA82 Champion Author Colorado Springs Posts:7,395 Points:1,371,965 Joined:Feb 2008	Message Posted: Mar 12, 2010 9:50:06 PM Ignore USAFA82 Report Abuse LanguageMan1, If you don't like "Big Oil," don't buy gasoline. I'm amazed by the number of hypocrites that complain about some grand conspiracy and yet they continue to drive their gas-guzzlers.
packards42 Champion Author Washington Posts:4,239 Points:717,270 Joined:Feb 2005	Message Posted: Mar 12, 2010 9:48:14 PM Ignore packards42 Report Abuse Great article honestly stated, no reason for $80 oil in the current market. Are OPEC and the speculators driving prices. I wondr how many OPEC dollars are in the hands of speculators. Buy 10 units high and sell 1000's higher
beachbumCA Champion Author Riverside Posts:10,459 Points:1,206,350 Joined:May 2008	Message Posted: Mar 12, 2010 9:45:17 PM Ignore beachbumCA Report Abuse $5.00 gas will slow the demand.
PissedCanuck Champion Author Toronto Posts:5,138 Points:1,192,310 Joined:Nov 2006	Message Posted: Mar 12, 2010 9:38:36 PM Ignore PissedCanuck Report Abuse Come this Summer, these guys will be back in the hotseat.
LanguageMan1 Champion Author Tampa Posts:9,140 Points:1,197,260 Joined:Apr 2008	Message Posted: Mar 12, 2010 9:31:49 PM Ignore LanguageMan1 Report Abuse Has it really been that long? Ha! Not "running riot", that's a laugh! Big Oil, the refiners, OPEC, they're the biggest speculators and market manipulators of them all and they basically do run it! We only have so much effect, even with out boycott [which I'm totally in favor of], our using less, etc.
Rick52 Champion Author Milwaukee Posts:9,422 Points:738,335 Joined:Mar 2005	Message Posted: Mar 12, 2010 9:31:46 PM Ignore Rick52 Report Abuse Pay 75% ????? No,No they pay 100% up front !!!!!!
star_deceiver Champion Author British Columbia Posts:3,376 Points:944,125 Joined:Jun 2008	Message Posted: Mar 12, 2010 9:31:41 PM Ignore star_deceiver Report Abuse not much has changed, eh!
gasper Champion Author Edmonton Posts:2,657 Points:974,320 Joined:Mar 2002	Message Posted: Mar 12, 2010 9:30:49 PM Ignore gasper Report Abuse Looks like we are in for high prices for fuel this summer.
Rick52 Champion Author Milwaukee Posts:9,422 Points:738,335 Joined:Mar 2005	Message Posted: Mar 12, 2010 9:29:47 PM Ignore Rick52 Report Abuse Very good informative article ..... I guess we better get ready for a double dip recession ..... And Government doesn't seem to care .... Of course they have their brains up their @ss with the health care SCAM !!!! Pelosi and Reid if you only knew what people will remember you for... (Destroying this Great American Country)!!!!!
DellMan Champion Author Omaha Posts:1,917 Points:442,925 Joined:Apr 2008	Message Posted: Mar 12, 2010 9:27:38 PM Ignore DellMan Report Abuse Obama could have stopped the speculators last year if he had wanted to. He still could, but this would go against his ideas of making us dependant on him and his liberal friends. It would only take the EPA to start enforcing the rules they came up with over 6 months ago. Start making the speculators pay 75% of the cost instead of 25% and you will see a drastic drop in speculation and prices.
truck193 All-Star Author Michigan Posts:552 Points:382,705 Joined:May 2007	Message Posted: Mar 12, 2010 9:27:36 PM Ignore truck193 Report Abuse really makes you wonder how when we fall on our face hard, how long we have to lay there before any one will help