oil: where does the money go?

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Originally Posted by Franco

UB, it amazes me how Democrats villanize the companies that keep this country rolling yet fail to blame the real culprits.

Obama has only issued one drilling permit for the gulf in the last year. Under Bush in 2001 new areas in the gulf were opened up to drilling. With that annoucement, the ppb dropped to $33.!!!

Yet, the current administration still thinks that thier war against oil companies is the right thing to do as the Dems are notoriuous for playing to the lowest common denominator among the electorate.

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It is impossible to educate those with a total class envy slant to everything they view. What is so frustrating about those hypocrites is they never see any problems with the likes of a George Soros, or any number of mega-millionaire/billionaires in the Democrat party.

So it's almost a surety, they are envious of your wealth, and how you've come by it...certainly not legally...but on the backs of the poor. After all, you ARE an employer, and all of those are ripping off their employees. Only the brave union bosses can keep you from crapping on your staff...paying them less than a living wage...not providing any benefits, so their poor family is sick all the time.

Any ideas on how this country got this way?

UB

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Originally Posted by Uncle Bill

Any ideas on how this country got this way?

UB

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After WW2 and prosperity that followed, we became a weak minded country, caught up in the American dream and the distractions that came with it.

With the electorate asleep at the wheel, we allowed career politicians the ability to buy thier votes/office.

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Originally Posted by paul young

how incredibly boorish.-Paul

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I suggest you don't use words you don't understand.

I do like your signature though.

http://www.merriam-webster.com/dictionary/boorish

i think it was an accurate usage. first, i was told i had a "lot of ingnorants" (yes, he spelled it that way), then i was called a "poor slub" (even though i have NEVER dabbled in oil or any other commodity trading).

that was just the first 2 paragraphs.

if there is anyone on this forum who's manners are rude in their insensitivity to others it's UB. oh yes, i think boorish fits him very well.-Paul

There is a lot of frustration currently with the administration, oil and the dollar. We would all be better off directing our name calling at the politicians.;-)

Some think the oil companies are behind the increases when in reality, they are just profiting from the failure of some governments, like the USA's. Failure in having a realistic energy plan for today and a misguided contempt for those that provide energy.

As UB pointed out, those speculators represent clients like farm co-ops. I pointed out that they also represent foreign countries. To some entities, be they private or public, place a higher value on being able to obtain gas/diesel than the money it cost. They are willing to pay inflated prices to ensure thier exsistence.

Only way to drive down the cost is by increasing supply like Bush did 2001. Oil dropped to $33. ppb! He opened new areas in the gulf for drilling and not shut them down as Obama has done. That is where any name calling should be directed.

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Originally Posted by paul young

http://www.merriam-webster.com/dictionary/boorish

i think it was an accurate usage. first, i was told i had a "lot of ingnorants" (yes, he spelled it that way), then i was called a "poor slub" (even though i have NEVER dabbled in oil or any other commodity trading).

that was just the first 2 paragraphs.

if there is anyone on this forum who's manners are rude in their insensitivity to others it's UB. oh yes, i think boorish fits him very well.-Paul

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Well, I just went back and read the entire thread and as I have been following POTUS for a couple of months now, most of what UB said in this thread seems pretty tame compared to many other posts. I would say that "boorishness" is somewhat of a situational definition and in my opinion, this wasn't it. As I said, I have been following POTUS for a while, and it seems silly to me to call someone on being rude if they haven't at the very least questioned the legitimacy of someones parenthood, made some comment suggesting inbreeding, made some comment about the virtue of one's wife or mother, or perhaps accused someone of being a lawyer.

Still like your signature.

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Originally Posted by HPL

Well, I just went back and read the entire thread and as I have been following POTUS for a couple of months now, most of what UB said in this thread seems pretty tame compared to many other posts. I would say that "boorishness" is somewhat of a situational definition and in my opinion, this wasn't it. As I said, I have been following POTUS for a while, and it seems silly to me to call someone on being rude if they haven't at the very least questioned the legitimacy of someones parenthood, made some comment suggesting inbreeding, made some comment about the virtue of one's wife or mother, or perhaps accused someone of being a lawyer.

Still like your signature.

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Certainly, I can use all the backup I can get...BUT, what is so totally incredulous is the fact that all Paul got from my post is my accidental mispelling of ignorant. (Don't sink into a spelling/English and punctuation food fight with me, little i)

With all the certitude I can muster, I suggest Paul still thinks the oil futures are inflated by nothing other than a few day-traders running up the price, and, as is so frequently the liberal solution, they should be outlawed. The illustrations I made about why there is a futures market and how it's used sailed right over his head. Subsequently, he will cling to his myopic view of why the energy prices are so high, and going higher.

Isn't it amazing how he can't quite understand why the Libyan oil that doesn't come directly to the USA, but is purchased primarily by China and others, can affect the overall oil prices. There wouldn't be any chance of China outbidding the USA for the oil they need to replace what they are not getting from Libya?

I know you Paul. I will not believe you are such a strong unionist you can't grasp the free market idea of 'global oil pricing'. After a lifetime of unionization running interference for you, have they also succeeded in telling you how to think...what to believe? If it isn't written on a placard for you to wave, are you struck speechless? You are better than that, Paul. Start believing in your God-Given rugged individualism. Your abilities should be allowed to expand, not be shackeled by a union.

UB