http://www.stopoilspeculationnow.com/

Interesting site

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Enough about me, how are you doing?

I should probably keep quiet until I've actually read that website, but I don't understand why speculation is so evil. If the speculators' speculations turn out to be correct, then they have simply made good deals for themselves. If their speculation turns out to be wrong, then they will get hammered at some point down the road. In the end, doesn't the market control?

Markets are zero sum games. By definition. For every winner there is a loser. Every investment decision you make from buying stock to your 401-k is based on speculation.

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MB-less

Don't bother reading it, nothing worthy there. Lots of crybaby ideas to limit markets, which in the history of the world has never worked. The numb-nuts idea of taking possession of the commodity is a complete joke.

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MB-less

There are sophisticated manipulations of the market going on that fewer and fewer people can track and understand. Whether that is fair or not is up for debate. But I bet theres a good chance of a big meltdown if/when that house of cards comes tumbling down. That is after the weakening and wreckage of industries that rely heavily on petrol, which is going on now. Question is, who will be left holding the empty oil drum?

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1985 380SE Blue/Blue - 230,000 miles
2012 Subaru Forester 5-speed
2005 Toyota Sienna
2004 Chrysler Sebring convertible
1999 Toyota Tacoma

That's not accurate. If it were, markets could never advance.
B

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'Government is like a baby:
An alimentary canal with a big appetite at one end and
no sense of responsibility at the other'
- Ronald Reagan

I'm not sure what is so sophiticated about it. For about six months experts have been saying that oil could reach $150 a barrel this summer. That's a pretty good prediction, anyone could have followed thier advice and made a ton of money.

... I remember several years ago when Bin Laudin suggested that oil should be selling for $144 a barrel. Now that was a great prediction. Oil was real cheap at that point and I remember thinking, No way!

raymr,

I'm afraid (with all the other bags of excrement we will be left holding from the
unbridled,unregulated excesses of the past 10 years) You and me!

(Let me re-phrase that for all the Free Marketeers[Investment Bankers,Mortgage
Bankers,Hedge Fund Emperors,Almost All of NY and Chicago's Investment Houses
Etc.,Etc.] It ain't Gonna be any of Ibin Saud's grandchildren)

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'84 300SD sold
124.128

Value is determined when something is bought and sold. If oil is not worth 140.00 per barrel then people won't pay it. If it is they will. If the oil buyers would stop buying it that would help a lot. Speculators can just as easily make money on the fall of oil prices. They don't really care whether it goes up or down. They just want to know which way it is going. Judging from the traffic I drive in just about everyone is happy to pay just about any price for gas. Here in Seattle we can't jump on the subway. Just the freeway. Oil independence is fairly easy to attain IMHO and we will get there sooner than you might think.

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1998 C230 330,000 miles (currently dead of second failed EIS, yours will fail too, turning you into the dealer's personal human cash machine)
1988 F150 144,000 miles (leaks all the colors of the rainbow)
Previous stars: 1981 Brava 210,000 miles, 1978 128 150,000 miles, 1977 B200 Van 175,000 miles, 1972 Vega (great, if rusty, car), 1972 Celica, 1986.5 Supra

There are more factors driving oil prices than speculators.

Supply, demand, refining capacity, consumer perception, government regulation.

__________________
'Government is like a baby:
An alimentary canal with a big appetite at one end and
no sense of responsibility at the other'
- Ronald Reagan

Maybe if the speculators actually had to take delivery of what they are buying.....

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1985 380SE Blue/Blue - 230,000 miles
2012 Subaru Forester 5-speed
2005 Toyota Sienna
2004 Chrysler Sebring convertible
1999 Toyota Tacoma

Imagine how that would be for pork belly speculation or cattle.

__________________
'Government is like a baby:
An alimentary canal with a big appetite at one end and
no sense of responsibility at the other'
- Ronald Reagan