Democrats

Why Are Americans Getting Screwed On Oil

May 7, 2008 ⋅  E-Mail Article ⋅  Print Article ⋅ Post a comment

Why are Americans getting screwed at the gas pumps? Because we have trading houses on Wall Street advising that the price of oil will run up over the next two years. Why are these Wall Street firms dissertating on the price of oil? Because it fuels the frenzy over oil and this creates a new customer base for these trading houses and that means profit for them at a time where stocks are just not offering profits.  There is no shortage of supply, actually most countries oil reserves are growing.  Please do not belittle my intelligence by saying that a temporary gas tax relief measure for the summertime is something that no one can argue. Only an idiot would say that we would not save money by eliminating the tax, of course we would. However, the gas companies would soon swoop in and raise the price by the amount relived and additionally we would have a huge gap in road funding needs. We also need a true energy policy that is not just for the summer but for all times. We need the rebirth of synthetic oil again.

The energy futures are clearly being manipulated and until we stop this manipulation we will never be paying fair oil prices. All of the contributing factors have gone away and there is no reason for oil to be climbing other than price manipulation by investors. The risk of war, supply, demand, and refining has already been built into the price of oil, there is no reason the price should go up other than manipulation by the rich oil investors. Remember, as long as oil is traded as a commodity you can expect the price to go through the roof. The same bastards who were behind corporate scandals based on corporate, and personal, greed have now latched onto another pyramid but this time they are latched onto a legitimate pyramid and they are utilizing the investing process of what is commonly known as ‘ The Greater Fool Theory.’ The Greater Fool Theory states that an investor will buy something believing that another fool will come along and buy it from them for a little more. This fool then tries the same thing, and dumber and dumber fools see the price of the something going up so they buy, this then leads other fools to buying and eventually the price of something is astronomical with no real basis. The problem is that this legitimized pyramid scheme is destroying the global stability that many countries rely on and in addition it is taking hard earned cash and destroying its value. Additionally, we have single parents who are now having to decide between feeding their family healthy meals or having enough gas money to make it through the week. There needs to be either a global cap on the price based on some complicated mathematical formula or we need to just take it off of the commodities market. The energy futures are clearly being manipulated and until we stop this manipulation we will never be paying fair oil prices. Remember, there is no reason the price should go up other than manipulation by the rich oil investors.

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