Too bad we had to wait until $4.00 a gal gas for Idiot Democrats to wake up!

Its like closing the gate After the Cows get out...

__________________
"You are Republican, you would not understand what it is to support the platform of the Democratic party" = Cats Meow..
http://www.tellthechildrenthetruth.com/

Neo-Nazi Fools.. http://en.wikipedia.org/wiki/Categor...ican_neo-Nazis

If it ain't broke, Don't Fix It!

If the common man was a multi-millionaire maybe. McCain will only continue what Bush has been doing, there is no difference.

Regular unleaded; Davis, Ca.

$4.50 per gallon.

Uh, quit while you are ahead. The regulators that are supposed to be helping to oversee oil/energy speculation and other factors driving these prices are administration appointees...the Democrats have nothing to do with that. It is a president's prerogative to appoint people who have great deal of influence over economic issues when he puts people in his cabinet (which is pretty big these days). The Democrats would have to have a Super Majority to override this sort of force...sorry, side goes back to the Republican's court on this mess.

Check your math...at 20 million barrels per day, actually just a bit more...800 Billion divided by 20 million divided by 365 got me to 109 something years rounded to about a hundred...on a study which has been shown might get into production by the year 2030...kewl.

That leaves the other three quarters after the 100% pretrial period over the next 22 years.

__________________
"All the problems we face in the United States today can be traced to an unenlightened immigration policy on the part of the American Indian."

Which side will you be on?


OBAMA/PEROT

Back the Truck up a bit...let's start here....

We are more deregulated and drilling for oil and gas more than ever before, this has not made an effect.

Incorrect statement....as I have shown. We are drilling far less....but, you have shifted from that now...

The New York Mercantile Exchange is the preeminent energy futures market in the world. It has become the price-setting mechanism for oil. Even OPEC refers to NYMEX when it sets its price targets. Right now it costs exactly $3,375 for anyone to control 1000 barrels of crude oil valued at roughly $67,000. Three grand to control nearly seventy!

Hold on there Cowboy....you just said.....

but, the price for the world is set by OPEC and commodities speculators.

Now it's ALL because of speculation? You are wanting to straddle the fence here, can't let you do that.

Now.....Futures...

A contractual agreement, generally made on the trading floor of a futures exchange, to buy or sell a particular commodity or financial instrument at a pre-determined price in the future. Futures contracts detail the quality and quantity of the underlying asset; they are standardized to facilitate trading on a futures exchange. Some futures contracts may call for physical delivery of the asset, while others are settled in cash.

The terms "futures contract" and "futures" refer to essentially the same thing. For example, you might hear somebody say they bought "oil futures", which means the same thing as "oil futures contract". If you want to get really specific, you could say that a futures contract refers only to the specific characteristics of the underlying asset, while "futures" is more general and can also refer to the overall market as in: "He's a futures trader."

Futures Contract

You do understand that these Contracts are for set amounts?? Now....

Futures Market

An auction market in which participants buy and sell commodity/future contracts for delivery on a specified future date.

Futures Market

Also...

Economic Importance of the Futures Market
Because the futures market is both highly active and central to the global marketplace, it's a good source for vital market information and sentiment indicators.

Due to its highly competitive nature, the futures market has become an important economic tool to determine prices based on today's and tomorrow's estimated amount of supply and demand.

Futures Fundamentals: How The Market Works

We are back to Supply and Demand....the point you are missing is that everything that is being produced is being bought....you like to use Opec...they are producing at Capacity, as are we.......SO now bring in your speculators....they are buying the Oil Production Contracts...and these Contracts and Pricing are being driven UP by the lack of supply....Now....as to OUR problems...

The U.S.
R/P has increased from 7.7 years in 1993 to 11.3 years in 2003 and total U.S. reserves
have also increased to 30.7 billion barrels from 30.2 billion barrels in 1993.
However, the U.S. R/P has increased because U.S. production has declined, from 8.6
million b/d in 1993 to 7.4 million b/d 2003. As U.S. total consumption has increased
over the period, the result has been that U.S. imports of oil have increased along with
our dependence on other nations and the world oil market. The declining reserve
position of North America in general means that, absent new major discoveries, the
United States will continue to depend on the world market

http://www.fas.org/sgp/crs/misc/RL32530.pdf

OUR Production has declined, OUR Demand has increased...more...

Oil industry investment is only partly required to meet new demand. Only
16% of total investment is projected to meet new demand growth. The remaining
84% is required to compensate for declining production from the reserve base. The
reason so much investment is needed to compensate for declining fields lies in the
decline rates observed in producing fields. Decline rates depend on a wide variety
of factors, including geology, extraction technology, field age, and production
policies. Decline rates range from 4% to over 11% per year. If production levels are
to be maintained, new reserves and production must continually be developed to
compensate, financed by investment in exploration and development.11

Seeing a trend??? Production levels are decling 4-11% per year..as DEMAND rises...In all honesty, your argument for a confluence of events is a better arguemnt...you are beginning to pidgeon hole yourself because of your dread of speculation...which I suspect stems from a larger fear of Capitalism itself....

From your Post...

“In the actual physical market for oil, nothing changed between yesterday and today,” said Judy Dugan, research director of Consumer Watchdog. “Morgan Stanley knew full well that making the prediction would spike prices, especially by calling for $150 oil in less than a month. As for the Israeli statement, traders instantly grabbed it as a reason to spike prices, even though it appeared to be a calculated warning, not a signal that bombers are about to take off. Obviously, diplomatic nuance means nothing to speculators.”

Go get'em, if they did to manipulate it in this way,they screwed up...but that has nothing to do with the essential point....

__________________
There are those, I know, who will say that the liberation of humanity, the freedom of man and mind, is nothing but a dream. They are right. It is the American dream.
~Archibald MacLeish

I knew what you were trying to say.

__________________
There are those, I know, who will say that the liberation of humanity, the freedom of man and mind, is nothing but a dream. They are right. It is the American dream.
~Archibald MacLeish

What specific laws are you suggesting the speculators broke? You're not suggesting Bush operate outside the law, are you?

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Miss Vicky - VictorDanilchenko, proven and shameless liar

http://www.arguewitheveryone.com/gen...tml#post709726

fact,A. Cowardlyhas NO knowledge of anything about this.

__________________
There are those, I know, who will say that the liberation of humanity, the freedom of man and mind, is nothing but a dream. They are right. It is the American dream.
~Archibald MacLeish

I don't think you read all the articles I gave. Believe what you want I guess.