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Thread: Local and state politicians love gas prices going up

  1. #1
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    Local and state politicians love gas prices going up

    Local and state politicians Play game telling the people there will look into why gas prices keep going up,put in reality they love it as the tax on each dollar goes up,you don;t see them capping the tax do you.HA HA

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    Member Riven37's Avatar
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    Stop, stop, just stop …. Don’t you get it they don’t care the main goal is to get America to be like Europe with $ 9.00 per gal. The quicker you understand this the less you will bitch about the politicians.
    Riven37
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  3. #3
    Member FMD's Avatar
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    The reason gas is so expensive is due to the banks. 80% of the activity in the Oil Markets is being done by mega banks.
    Willful ignorance is the downfall of every major empire in history.

    "Political power grows out of the barrel of a gun." - Mao, 1938

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    Quote Originally Posted by FMD View Post
    The reason gas is so expensive is due to the banks. 80% of the activity in the Oil Markets is being done by mega banks.
    banks arent investing in oil, in simple terms, they are helping futures dealers (imagine a stock market for oil) to manage risk positions for the oil companies (supply) and big oil using countries (Demand). the middlemen are the dealers in the futures markets who help both sides offset their market risks..because participants in those markets want to sell their supply at different times, and different quantities (again, imagine the stock market, diffeent size orders, trades at different times of day ..different days of week, etc), and the buyers of the oil want it at different times and quantieis also. The "speculation" is really just the middlemen assisting those market participants (the suppliers and the demanders) to manage their financial risks. It actually helps make the markets more liquid and viable. It's not a whole bunch of speculators doing a buy and hold hordeing that would restrict supply. Supply restiction would be more rooted at the actual point of supply origination...which, is in the oil producing nations.

    Consider the stock market example. ALL of the transactions that occur in the stock market are processed via clearinghouses that use banks to process the funds to settle the buys and sells for the day. going back to your original point about banks being the big speculators in oil (and driving up the prices), that would be the same thing as saying that "it's the large banks that do 100% of all the price movement (speculation) in the stock market". Sure, the funding and the risk management is facilitated via banks, but its primarililty the macro supply side and the demand side of the commodity that actually drives the prices.

    im not criticizing your post, just putting the speculation term in perspective. Owners of oil want to manage their risk (via futures markets) in case the price goes down before they get a chance to sell it into the market to willign buyers). Buyers of oil want to manage their risk as well, and lock in prices (also via futures markets). It's the dealers in those futures markets that also have risk. All that risk..both the positive and negative, needs capital in order to keep those markets fluid (no pun intended) on a daily, weekly, monthly basis. Ultimateley, yes, its banks that provide the capital for the oil dealers (both the buy side and sell side dealers) as well as the futures/risk management dealers (buy side and sell side also). To that extent, yes, its the big banks providing the capital for the market participants, but the banks aren't specifically buying oil and oil futures for price appreciation as an investment per se , but more so to faciliate the activities of the oil producers, dealers, and demanders of oil. I hope that makes some sense.

    "banks are the oil speculators" Its sort of like saying that because people take out mortgages (from a bank) to buy a home, that home prices are a result of the banks which make up 100% of the funding in the market. The real demand comes from home buyers, and the real supply comes from home sellers and builders. The banks just proivide the funding...the liquidity, that heps keep the home buying markets going, no matter what day or month that someone wants to buy or sel la home. Again, i hope that makes some sense. its oversimplified yes but i htnk the example is pretty close.

    but, of course. make no mistake: the politicos privaely LOVE the rising gas prices because the fed and state taxes are a % of the total sale. and they can easily blame everyone else for the rising prices...BUT..why don't politicos take action to help taxpayers..by reducing the tax % when the underlying comodity starts becoming to expensive for consumers? Why not ? because politicos are PIGS.

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    Member granpabob's Avatar
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    could the price we pay for gas have anything to do with the falling US dollar. the Dollar is worth less so it takes more of them to buy gas. If we Want lower prices our economy has to improve so the Dollar buys more
    One good thing about growing old is your secrets are safe with your friends they can't remember them either

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    Member Mr. Lackawanna's Avatar
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    Put the blame on Obama. His policies are the reason for our falling dollar.
    As the dollar goes down gas prices will go up.
    Russia didn't make me vote for Trump, Hillary did.

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    Member dougb's Avatar
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    Saw this on artvoice.

    According to Congressional testimony by the commodities specialist Michael W. Masters in 2009, the oil futures markets routinely trade more than one billion barrels of oil per day. Given that the entire world produces only around 85 million actual “wet” barrels a day, this means that more than 90 percent of trading involves speculators’ exchanging “paper” barrels with one another.

    Because of speculation, today’s oil prices of about $100 a barrel have become disconnected from the costs of extraction, which average $11 a barrel worldwide. Pure speculators account for as much as 40 percent of that high price, according to testimony that Rex Tillerson, the chief executive of ExxonMobil, gave to Congress last year. That estimate is bolstered by a recent report from the Federal Reserve Bank of St. Louis.

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    Member granpabob's Avatar
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    sounds like what Sarah Palins economic expert said on her special. they showed a clip of this testimony why not just admit you watched Sarah on Fox
    One good thing about growing old is your secrets are safe with your friends they can't remember them either

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    Member Numero Uno's Avatar
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    Obviously this thread was started as another way to get a jab in at Obama, so I will oblige. We always hear about gas being less than $2 when Obama was elected and now its over $4. Well the graph below shows that the market was either manipulated by either oil companies or the Bush administration (Republicans) in the 3 months be fore the 2008 election. The other factor of course being a global meltdown of the economy, but that doesn't promote a non partisan argument, so in order to make this a political discussion I will have to blame the Republicans because every issue is required to be blamed on political parties with no middle ground for common sense. That being said Obama has allowed for increased oil production, but since that doesn't fit with the Fox News point of view, we just need to say the prices are high because thats the way Obama wants it and he makes all rules in todays society because that way he can take away our guns and freedoms and everything else that he wants to take away from the American people. Luckily there are a bunch of patriots at Fox News protecting us from him "Takinnaway mi gunz!".
    Seriously idiots, is this what you think?
    Click image for larger version. 

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    No no no, you got it all wrong, it's all supply and demand people. Everything is just fine, markets are humming along nicely and people are getting paid. I personally said no to buying oil for commuting. If people did this then there's a real cause for change.

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    Member FMD's Avatar
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    Lets just back up the train a moment...

    NYS: 28 cents per gallon PROFIT
    Federal Govt: 78 cents Profit
    Erie County 8.75% of current price, PROFIT

    Oil Companies: 2 CENTS profit.

    Who REALLY benefits from Gasoline? Its not 'big Oil' Its the GOVERNMENT! Why would they, push green BS, and crap? To REMOVE Choice, Liberties, and FREEDOMS!

    Going Green, Has NOTHING to do with the planet, infact, the Planet, by all accounts is entering an ICE AGE!

    The heinous green house gas, Carbon Monoxide, was 7 TIMES the current amount when T Rex Ruled the world...

    Also, for the first time in US HISTORY! The US EXPORTED More oil and refined oil Products, than it imported, in 2011...


    And, in 2012....

    The United States, has EXPORTED more Gasoline, Than it CONSUMED so far, this year!

    Oh, and the USA, is selling said gasoline, at less than $2 per gallon...

    Who is ****ing who here? I would say, the Govt.
    Willful ignorance is the downfall of every major empire in history.

    "Political power grows out of the barrel of a gun." - Mao, 1938

  12. #12
    Member granpabob's Avatar
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    Obama isn't letting the country produce more. The increased production is happening on private land that so far he can not control production on. Land and offshore fields owned or protected by the government have actually reduced production.
    One good thing about growing old is your secrets are safe with your friends they can't remember them either

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    Member Mindcrime's Avatar
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    Quote Originally Posted by granpabob View Post
    Obama isn't letting the country produce more. The increased production is happening on private land that so far he can not control production on. Land and offshore fields owned or protected by the government have actually reduced production.
    It doesn't matter how much we produce. We control 2% of the world's oil, and use 20-25%. Even if we doubled production, which is (logistically impossible) we would simply run out of our own oil that much faster and be completely dependent on foreign sources. Wouldn't it be nice to have established & integrated alternative sources of energy already developed and in place when (not if) that happens?
    Everyone is entitled to their own opinion. No one is entitled to their own facts.

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    Member ILOVEDNY's Avatar
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    Quote Originally Posted by Mindcrime View Post
    It doesn't matter how much we produce. We control 2% of the world's oil
    Total Obummer lie.



    A U.S. Geological Survey study showed the United States might actually hold a quarter of the world's untapped, undiscovered supply.

    The president often uses a much different statistic in speeches.

    He said Tuesday, as he has before, that "the problem is we use more than 20 percent of the world's oil and we only have 2 percent of the world's proven oil reserves."

    "Even if we drilled every square inch of this country right now, we'd still have to rely disproportionately on other countries for their oil," Obama said, while pitching a plan to crack down on oil market speculators.

    But a U.S. Geological Survey released Wednesday paints a seemingly different picture. The analysis showed the world outside of the U.S. holds 565 billion barrels of undiscovered conventional oil -- it was the first such study in 12 years. The study did not address U.S. resources, but a prior analysis by the Energy Information Administration pegged the country's supply at 198 billion barrels. That works out to 26 percent of the world supply.


    Read more: http://www.foxnews.com/politics/2012...#ixzz1sa7J2Da4

  15. #15
    Member FMD's Avatar
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    eh. My own personal research over the years, tells me that the US, has with in all its territories 2x as much oil as the middle east. However its the liberal tree huggers, that dont want to become oil independant. Infact i remember reading somewhere that there is enough natural gas, coal, and oil on earth to last the next 500 years at current rates of consumption.

    However the fact remains, that as of right now the US is an Oil Producing, Exporting Country, which is also exporting more GASOLINE than it consumes at a CHEAPER price than what its selling for in the US.

    I would call that, a concerted effort to drain more wealth from the US Economy
    Willful ignorance is the downfall of every major empire in history.

    "Political power grows out of the barrel of a gun." - Mao, 1938

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