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  #1  
Old 07-13-2008, 08:36 PM
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interesting site on oil speculation

http://www.stopoilspeculationnow.com/

Interesting site

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Old 07-13-2008, 08:42 PM
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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?
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  #3  
Old 07-13-2008, 08:55 PM
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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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Old 07-13-2008, 08:58 PM
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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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Old 07-13-2008, 09:43 PM
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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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Old 07-13-2008, 10:47 PM
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Quote:
Originally Posted by Emmerich View Post
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.
That's not accurate. If it were, markets could never advance.
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Old 07-13-2008, 11:00 PM
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Quote:
Originally Posted by raymr View Post
There are sophisticated manipulations of the market going on that fewer and fewer people can track and understand.
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!
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  #8  
Old 07-14-2008, 12:22 AM
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"Empty Drums" (A Modern American Horror Story)

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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  #9  
Old 07-14-2008, 02:22 AM
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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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  #10  
Old 07-14-2008, 07:39 AM
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There are more factors driving oil prices than speculators.
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  #11  
Old 07-14-2008, 07:44 AM
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Supply, demand, refining capacity, consumer perception, government regulation.
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  #12  
Old 07-14-2008, 08:20 AM
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Maybe if the speculators actually had to take delivery of what they are buying.....
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  #13  
Old 07-14-2008, 08:26 AM
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Imagine how that would be for pork belly speculation or cattle.

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