Domestic Policy

President Bush Takes Oil Issue To Heart

April 27, 2006 ⋅  E-Mail Article ⋅  Print Article ⋅ Post a comment

President George W. Bush announced his latest plan to revive his approval ratings; I mean to fight high gasoline prices in the United States. However, many analysts are saying that the efforts are either too little or too late to make a real difference. I also would suggest that more attention needs to be focused on the individuals who drive the commodities market, they are the reason oil is so high. They cold call their whales and tell them to invest because of all the unrest, then when the money pours in it turns into a gigantic boiler room situation, its like the early 90’s junk bond days. It’s all hype and holler.

I thought it was illegal to raise the price of oil based on speculative reasons but I guess I was wrong. I guess the commodities traders around the world can exploit anyone and get away with it. OPEC says its them, the oil companies say it’s them, even the gas attendants say it’s the traders. So why isn’t Bush going after them? Is it because the rich keep getting richer and because the market is legal it appears to all be above board? Come on, go after the real demons in this issue, the oil market traders. There is nothing but pure manipulation and everyone knows it. Who will be man enough to stop it?

With gasoline pump prices beginning to creep over $3 per gallon in some parts of the country, President Bush announced he would help gasoline supplies by allowing regulators to loosen up on clean fuels rules for the time being if state governors request this. The President also hinted at freeing up crude oil by delaying deliveries into the countries Strategic Petroleum Reserve. However, these issues do not address the real problem. The real problem is that market traders have conspired throughout the world to artificially raise prices based on speculation. It does not cost the oil coampnies any more now than it did last year to produce the oil. The only difference is that market traders have hyped up the price so they can turn a buck. The stock market is moving a little slow so they have turned their attention towards the oil market, and they did not strike gold, they struck oil, major oil, and no one or nothing appears to be stopping their boiler room hyping.

Tom Bentz recently stated, “There’s already plenty of crude in the market. Adding more crude to a market that already has plenty of crude doesn’t make much of a difference.” So if shortage is not the answer than we again must look at a pump and dump scam being perpetrated on the world as a whole.

Reportedly American drivers will receive some relief at the pump soon because many American refineries are beginning to return to normal operations after maintenance and repairs because of last years hurricane damage.

Bush Takes On Oil Issue

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