[Windwalker]

Originally Posted by tinytim

The only answer is to come up with a viable alternative. Oil is not a renewable resource and will eventually run out. Therefore supply and demand is exactly what is causing the rise and it is only going to get worse. Drilling in Alaska and other places would help but realistically by the time those oil fields could be productive we better already be on our way to an alternative. They should have opened those up years ago and at the same time began serious efforts to find a viable alternative. The current situation isn't a surprise to those who should know, they just failed to act early enough. Google 'peak oil' and read a little.

Read my post above. That's the cure in the long run.

[Rev.Vassago]

Does anyone remember the rise and fall of the dot com's back in the late 90's? Does anyone else see anything similar?

[jamesinge]

We are simply being held hostage by OPEC and no amount of speculating or lack thereof will grant us any reprieve from being bent over a barrel literally.

With our thechnology such as it is we should be forever beyond our need for oil plain and simple. People can make diesel engines run on vegetable oil. Grease, and even garbage. There are natural gas engines as well as hydrogen nitrogen etc etc.

Hell if we really wanted to we could be any number of common everyday renewable things instead of oil.

I look forward to the price getting even much higher because then and only then will we truly begin to attempt to lessen our dependence on foreign oil.

[Colts Fan]

Originally Posted by Rev.Vassago

Does anyone remember the rise and fall of the dot com's back in the late 90's? Does anyone else see anything similar?

Are you referring to a bubble that might burst?

[Rev.Vassago]

Originally Posted by Colts Fan

Are you referring to a bubble that might burst?

That and more. The dot com boom of the late 90's was based upon speculation, with prices soaring far beyond the value what they represented. When those who got in at the beginning saw that it had reached the pinnacle, they began pulling out. By the time the casual investor knew what was happening, it was already too late. Basically, it was a huge pyramid scheme.

There have already been reports of people in the oil industry investing in other areas, and now even the Saudis state that the current prices are far too high. It is simply a matter of time before this bubble bursts, just as the dot com bubble burst, and just as the housing bubble burst. When it does, fortunes will be lost, and everyone who has 401K money invested in oil will be whining that they lost their life savings.

[Fourcats]

The ones making the HUGE profits are the ones who do NOTHING but collect the taxes and hold "hearings" to chastise the oil companies...They are not about to let all that free $$$$ get away.

There are no lines or "shortages", we {you & me} can still pay more for fuel and everything else. That where our "leaders" are taking us.

Politics, Speculation and Prices at the Pump

Didn't Sammy Kershaw sing that?

[BigWheels]

Originally Posted by WAVP375

I listened to Byron Dorgan on FOx News Sunday say that we have to go after the speculators in order to deal with the rising price of oil when he was asked about Congress allowing more exploration for oil.

Without speculators, the price of bread one week could be .99 and the next week 9.99. Speculators help prices more or less on an even keel over time.

Originally Posted by WAVP375

I read an article quoting George Soros saying that the speculation in oil is a bubble and it immediately occurred to me that the way to burst that bubble is to produce more crude oil.

Flooding the market is certainly one way to burst this bubble. As others have said, starting an earnest intent to drill in this country as well as committing to alternative forms of energy would also help to "pop" the bubble.

Originally Posted by WAVP375

Yet, conservation, taxation and “alternative energy sources” are the mantra of the Democrats in Congress. This policy of theirs is perfectly tailored, I believe, to benefit the very speculators being cited by Dorgan as the root cause of our misery.

Perhaps. It does seem that way.

Originally Posted by WAVP375

Question – how valid is the proposition that Obama, Democrat politicians and affluent Democrat supporters of Obama have investments in the oil futures hedge funds which are probably the real “speculator” culprits here?

It's a valid proposition...wait until they file next year's tax returns.

Originally Posted by WAVP375

That is, do Democrats seek to personally benefit financially through personal investments from keeping oil off the market by their insisting on conservation, taxation and alternative energy sources instead of allowing more domestic oil production?

Some Democrats undoubtedly personally benefit financially through personal investments in oil hedge funds (But then so do some Republicans, Independents, etc.). Ain't politics grand?! :shock: :sad:

[Rawlco]

Originally Posted by BigWheels

It's a valid proposition...wait until they file next year's tax returns.

Some Democrats undoubtedly personally benefit financially through personal investments in oil hedge funds (But then so do some Republicans, Independents, etc.). Ain't politics grand?! :shock: :sad:

Slightly off the topic, but do you realize that algore has invested heavily in the companies that build carbon dioxide capture equipment, makers of solar cells, and other "alternatives" that he touts should be required. Talk about using politics for personal gain.

Originally Posted by Rev

When it does, fortunes will be lost, and everyone who has 401K money invested in oil will be whining that they lost their life savings.

Bet you five bucks that if oil crashes there will be bailouts, price supports, and all kinds of handouts to ease the pain. :wink: Spread the misery. :lol:

[golfhobo]

Originally Posted by Rawlco

Slightly off the topic, but do you realize that algore has invested heavily in the companies that build carbon dioxide capture equipment, makers of solar cells, and other "alternatives" that he touts should be required. Talk about using politics for personal gain.

Bet you five bucks that if oil crashes there will be bailouts, price supports, and all kinds of handouts to ease the pain. :wink: Spread the misery. :lol:

So what if Al Gore has invested in "alternative energy" companies?? Al Gore makes NO energy policy in this country. He's not even IN the government anymore! In fact.... I believe he has stayed OUT of it for the simple reason that he doesn't want to portray a conflict of interest.... and his interest is in energy conservation.... or at least, alternatives.

He has dedicated his "post administration" years to this cause, even won a Nobel for it, and he has EVERY right to invest in companies that share his vision of the future. :roll:

Now, I realize that his mansion consumes massive amounts of energy, and it seems, even MORE now that it is "green." But, that's beside the point! It MAY go to prove him WRONG..... but, not "dirty!"

There are PLENTY of rich Conservatives who are making big money off of the current oil situation who've contributed large amounts of monies to the current administration and are thankful for its LACK of action to curtail Big Oil profits! The name CHENEY comes to mind! :roll:

If Oil crashes, there will be no spreading of the misery! Yes, there will be bailouts..... but, there already ARE in the form of subsidies and tax breaks! Shareholders will feel only a small amount of pain. The MISERY will be borne by the average American at the pump!

Get OFF Al Gore's back! I don't see ANY validation for your accusation that he is mixing politics with profits! I assume he has "risked" large amounts of monies in the future HE thinks is best. He HAS that right as a private citizen!

Do you not think that if he WANTED political influence to support his personal investments, he couldn't have regained his Senate seat from Tennessee?? The fact that he HASN'T, tells me volumes about his commitment and ethics!

As an Independant, I am a bit concerned about the control the Environmentalists have over Democratic Party politics, and even a bit troubled by some of the Socialist tendencies. But, overshadowing this concern is my total disgust with the "Gotcha" mentality of the Conservatives, who find it necessary to villify any and ALL "liberals" and Democrats for their beliefs and actions! :roll:

Democrats blame the Bush administration for the special treatment of the rich. But, the Conservatives blame EVERY Democrat (or at least Liberal) for what they perceive as a threat to their "privileged" way of life!

They come off as the playground "Bully!" Complete with lower I.Q's, bigger egos, louder mouths, and smaller genitals! :shock: :lol:

Now, I certainly expect to get "flamed" for this.... but, I've listened to A LOT of Conservative radio lately (since I started driving a truck and bought a Sirius radio,) and that is MY opinon! I watch Fox News as much as I do CNN while at home, and the differences are unmistakable!!