Here is everyones chance to lower gas prices...
- Thread starter GNBRETT
- Start date
Anyone can invest in oil futures just like any publicly traded company stock...the more people who invest in these oil futures the higher the price goes....take it off and your left with only the companies that are actually buying crude oil to affect the price. Just like the dot coms ( or dot bombs) where everyone invests in them until they are highly over inflated and the bottom drops out and those who bought in high are left with huge losses....lets hope this happens with oil futures soon
The only problem with this is you have some folks predicting $5 a gallon and even $10/gal gas so that makes more and more people want to invest in oil futures......you don't see folks out there tauting stock prices of Burlington Northern Rail going to be $200+ a share and everyone beleiving it like you do oil...so getting the price to come down any time soon be not be reality.....not to mention that gas is a necessity unlike using the railroad for shipping. So it is really a fatal mistake to allow investing in oil futures to begin with since it directly effects interstate commerce costs.
Anyone can invest in oil futures just like any publicly traded company stock...the more people who invest in these oil futures the higher the price goes....take it off and your left with only the companies that are actually buying crude oil to affect the price. Just like the dot coms ( or dot bombs) where everyone invests in them until they are highly over inflated and the bottom drops out and those who bought in high are left with huge losses....lets hope this happens with oil futures soon
The only problem with this is you have some folks predicting $5 a gallon and even $10/gal gas so that makes more and more people want to invest in oil futures......you don't see folks out there tauting stock prices of Burlington Northern Rail going to be $200+ a share and everyone beleiving it like you do oil...so getting the price to come down any time soon be not be reality.....not to mention that gas is a necessity unlike using the railroad for shipping. So it is really a fatal mistake to allow investing in oil futures to begin with since it directly effects interstate commerce costs.
I should apologize since I was sort of baiting for an answer to my question. Point is the SEC has nothing to do with commodities. That is the CFTC's job.
First of all, by not allowing the crude oil market to "trade" would be fatal. You mention the "dot Coms" and that you hope this happens to oil very soon, then go on to say it is fatal to alow investing in oil. Which is it? My point is high prices cure high prices and maybe oil is over inflated, but the bottom wont drop out if there is not an open exchange traded contract.
CL was down $4.14 today on a CFTC announcement about tighter regulation.
I have traded physical commodites that did not have a futures contract to be used for price discovery. Trust me you do not want this in oil. If the product was short the "ask" was high for a buyer and if there was surplus the price was undervalued for the seller. Do you think oil would be $126 if there was not a futures contract? IT would be much higher. Much much higher.
Also you mention anyone can invest. That is true. (if you have the financials to open an account). So in reality if most EVERYONE can do it, what are we complaining about?
Thanks for the info. I don't do this for a living, just trying to explain it in everyday terms if the reader was vaguely familar with investing. I have no idea who or what org manages those exchanges. I have no idea what the consequences would be of it not being on the open market when the actual buyers are the refineries/oil companies themselves. Still the simple fact is the more people throw money at it, the "stock price" will rise...at some point they will reep their gains and bailout, causing the "stock price" to fall.... Therefore, that allows the everyday person with some monies to invest to influence the price of oil and that was my thought on why it was not a good idea to allow it. At least thats the idea for the "new" investors that aren't interested in long term dividends
I hope all the oil speculators and the thieving bastards die slowly in a barrel of oil.
There is no reason that diesel should cost more than gas.
I don't believe for a minute that the surge in the price of oil has to do with China. China just a had a major earthquake, I guess their consumption should've went down.
Think back in time when this country was hit by hurricanes, did the cost of anything go up? Just recently these thieving companies are using a natural occurence to jack the price up. I hope they all have a miserable death and die.
There is no reason to gouge a product. I don't understand how the gov't could regulate your telephone, gas/electric, cable bills, regulate mass transit prices but when it come to something that everyone needs, they look the other way. Someone is getting very rich to look the other way.
I hope they all die
Billy T.
gnxtc2@aol.com
There is no reason that diesel should cost more than gas.
I don't believe for a minute that the surge in the price of oil has to do with China. China just a had a major earthquake, I guess their consumption should've went down.
Think back in time when this country was hit by hurricanes, did the cost of anything go up? Just recently these thieving companies are using a natural occurence to jack the price up. I hope they all have a miserable death and die.
There is no reason to gouge a product. I don't understand how the gov't could regulate your telephone, gas/electric, cable bills, regulate mass transit prices but when it come to something that everyone needs, they look the other way. Someone is getting very rich to look the other way.
I hope they all die
Billy T.
gnxtc2@aol.com
I hope all the oil speculators and the thieving bastards die slowly in a barrel of oil.
There is no reason that diesel should cost more than gas.
I don't believe for a minute that the surge in the price of oil has to do with China. China just a had a major earthquake, I guess their consumption should've went down.
Think back in time when this country was hit by hurricanes, did the cost of anything go up? Just recently these thieving companies are using a natural occurence to jack the price up. I hope they all have a miserable death and die.
There is no reason to gouge a product. I don't understand how the gov't could regulate your telephone, gas/electric, cable bills, regulate mass transit prices but when it come to something that everyone needs, they look the other way. Someone is getting very rich to look the other way.
I hope they all die
Billy T.
gnxtc2@aol.com
Wow.
Thats a lot of people dying.
I dont want to be on your list but the surge in oil price's in not from the earthquake. It was high already. In regards to the hurricanes, Oil shot up to $70 ish per barrel and gas was $3.00 ish here. Now oil is around $130 and got as high as $135 and gas is $4.00. I am glad to see the Ethanol guys and farmers spared from your list since Ethanol is actually helping prices of gas versus inflating it. Along those lines, give the speculator a reason to belive our consumption will decrease. I dont see it.
The end result was the farmers who were growing wheat to make flour started to grow corn instead. This left a few wheat farmers. Which left the remaining wheat farmers to jack up the their price. A bag of flour tripled overnight, ask a bagel/pizza/bakery store about it.
Listen to this:
The Energy Non-Crisis
Billy T.
gnxtc2@aol.com
Little6pack
Active Member
- Joined
- Jun 2, 2002
SUBWAY & QUIZNOS SUK! I can get a better sub at my local deli for UNDER $5- & have enough gas in my azz to fuel my cars
Do you know what it costs to find, refine, ship the oil for our gas?
We have had a bargain for years! the market will settle via good ole economics at this point people are still driving & paying for gas. they are going with less SUBS, CIGS, COFFEE, BEER (AH STRIKE THAT LAST ONE) Bud just had record profits. Beer is way more $$ than gas
Do you know what it costs to find, refine, ship the oil for our gas?
We have had a bargain for years! the market will settle via good ole economics at this point people are still driving & paying for gas. they are going with less SUBS, CIGS, COFFEE, BEER (AH STRIKE THAT LAST ONE) Bud just had record profits. Beer is way more $$ than gas
And rice too, rice has about doubled also in short order. The Chinese resturants are also cutting back on how much rice they pack in now for "filler" on plates.
And BTW, a friend of mine in the military thats over in Saudi Arabia said last week that gasoline is equivalent to $0.27 a gal US
Thats why they can afford gold plated cars and all that Its like the current housing market. In my hood, 1950s ranch 3/2 pool houses, were up to $550k-$600, but these were people trying to flip them. Once they realized people weren't going to buy them for that price, the prices dropped. Now those same houses are in the $350k-$400k range. It was the speculators that drove the prices up beyond what the market was willing to pay. Those same houses were $100k 10 years ago. My house went from $100k in '98 to $500k in '06.
Its also kinda like 2 idiots at a car auction. A $100k car gets bid up to $200k, even though its not worth that much.
The demand will have to drop or supply rise to really make a difference.
Bet them homes are not selling at $350-$400 anymore,can you say Foreclosure..... Every redneck bought those homes at pre-construction prices and then lived there for 5yrs and figured they were now worth 500k,believe me I was planning to move there during those yrs ,glad i didnt cause those nice homes are now all infested with all the wrong people,they make their garage into a spare bedroom and wait on the beach for their family's raft to hit shore...
GNBRETT
Pelennor Fields
- Joined
- Feb 8, 2004
Bet them homes are not selling at $350-$400 anymore,can you say Foreclosure..... Every redneck bought those homes at pre-construction prices and then lived there for 5yrs and figured they were now worth 500k,believe me I was planning to move there during those yrs ,glad i didnt cause those nice homes are now all infested with all the wrong people,they make their garage into a spare bedroom and wait on the beach for their family's raft to hit shore...
Lol.... tell us how you really feel. Ur right about the people living in those houses. I'm afraid if my neighbor moves some animals will move in...
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