SEATTLE - With no relief in sight at the gas pump, one of our state's
senators is going on the attack.

U.S. Sen. Maria Cantwell says oil speculators are to blame for
budget-busting prices - and she says it's time to rein them in.

As drivers wonder just how high gas prices can go, Cantwell and other
lawmakers have been grilling oil company execs.

The quick answer seems to be speculation - investors looking for a
quick profit.

"I think we found when these oil company executives testified before
Congress last week that at least one of them said that supply and
demand would mean that oil prices really should be about $60 or $70 a
barrel," Cantwell says. "That would mean Washington drivers would be
paying $2.50 a gallon instead of $4 a gallon."

Cantwell and 15 other U.S. senators say it's time for new rules over
the oil markets to be enforced.

"There is a lot of money flowing into this that is purely from large
institutions, and I think we need rules to make sure they aren't
making the market or are doing things that are artificially driving up
the price," she says.

President Obama opened another front on the war on high prices by
offering new oil and gas leases in the Gulf of Mexico and Alaska's
National Petroleum Reserve.

The president's move comes just days after oil companies complained
that government restrictions are stifling domestic oil production.

"There are shackles on us," said James Mulva, chairman and CEO of
Conoco-Phillips. "Put us back to work - open up, give us access to the
lands, let us start drilling, put our people back to work."

Cantwell says reigning speculators would be a much quicker fix.

"Overnight," she says. "We saw with electricity, we saw with Enron,
how prices got 3,000 times the rate they should be - and once those
federal regulators acted, the price dropped overnight."

On May 15, 9:59*pm, jps wrote:
SEATTLE - With no relief in sight at the gas pump, one of our state's
senators is going on the attack.

U.S. Sen. Maria Cantwell says oil speculators are to blame for
budget-busting prices - and she says it's time to rein them in.

As drivers wonder just how high gas prices can go, Cantwell and other
lawmakers have been grilling oil company execs.

The quick answer seems to be speculation - investors looking for a
quick profit.

"I think we found when these oil company executives testified before
Congress last week that at least one of them said that supply and
demand would mean that oil prices really should be about $60 or $70 a
barrel," Cantwell says. "That would mean Washington drivers would be
paying $2.50 a gallon instead of $4 a gallon."

Cantwell and 15 other U.S. senators say it's time for new rules over
the oil markets to be enforced.

"There is a lot of money flowing into this that is purely from large
institutions, and I think we need rules to make sure they aren't
making the market or are doing things that are artificially driving up
the price," she says.

President Obama opened another front on the war on high prices by
offering new oil and gas leases in the Gulf of Mexico and Alaska's
National Petroleum Reserve.

The president's move comes just days after oil companies complained
that government restrictions are stifling domestic oil production.

"There are shackles on us," said James Mulva, chairman and CEO of
Conoco-Phillips. "Put us back to work - open up, give us access to the
lands, let us start drilling, put our people back to work."

Cantwell says reigning speculators would be a much quicker fix.

"Overnight," she says. "We saw with electricity, we saw with Enron,
how prices got 3,000 times the rate they should be - and once those
federal regulators acted, the price dropped overnight."

U.S. Sen. Maria Cantwell says oil speculators are to blame for
budget-busting prices -

You're JUST figuring this out? Wow.

In article ,
says...

The fact is, President Obama told us he wanted higher gas prices to
drive us all to General Electric powered cars, so did his secretary of
energy. Fact is, the Government makes much more money per gallon on
taxes than the Oil companies, only difference is now that gas is twice
as high, the Government gets twice as much while the oil companies still
only make about 3 cents a gallon. Now with the Obama administrations
voter pay back spree of the last two years, do you really think he wants
those prices to go down? After all, the rich corporations and
individuals, health care lobbyists, unions he sold the country out to
need to get their campaign contributions back in spades...



--
Team Rowdy Mouse, Banned from the Mall for life!

On Sun, 15 May 2011 23:19:55 -0400, I_am_Tosk
wrote:

In article ,
says...

The fact is, President Obama told us he wanted higher gas prices to
drive us all to General Electric powered cars, so did his secretary of
energy. Fact is, the Government makes much more money per gallon on
taxes than the Oil companies, only difference is now that gas is twice
as high, the Government gets twice as much while the oil companies still
only make about 3 cents a gallon. Now with the Obama administrations
voter pay back spree of the last two years, do you really think he wants
those prices to go down? After all, the rich corporations and
individuals, health care lobbyists, unions he sold the country out to
need to get their campaign contributions back in spades...


what babbling. taxes are constant. profits are variable.

seems the right simply ignores economics

On Sun, 15 May 2011 19:25:53 -0700 (PDT), "*e#c"
wrote:

On May 15, 9:59*pm, jps wrote:
SEATTLE - With no relief in sight at the gas pump, one of our state's
senators is going on the attack.

U.S. Sen. Maria Cantwell says oil speculators are to blame for
budget-busting prices - and she says it's time to rein them in.

As drivers wonder just how high gas prices can go, Cantwell and other
lawmakers have been grilling oil company execs.

The quick answer seems to be speculation - investors looking for a
quick profit.

"I think we found when these oil company executives testified before
Congress last week that at least one of them said that supply and
demand would mean that oil prices really should be about $60 or $70 a
barrel," Cantwell says. "That would mean Washington drivers would be
paying $2.50 a gallon instead of $4 a gallon."

Cantwell and 15 other U.S. senators say it's time for new rules over
the oil markets to be enforced.

"There is a lot of money flowing into this that is purely from large
institutions, and I think we need rules to make sure they aren't
making the market or are doing things that are artificially driving up
the price," she says.

President Obama opened another front on the war on high prices by
offering new oil and gas leases in the Gulf of Mexico and Alaska's
National Petroleum Reserve.

The president's move comes just days after oil companies complained
that government restrictions are stifling domestic oil production.

"There are shackles on us," said James Mulva, chairman and CEO of
Conoco-Phillips. "Put us back to work - open up, give us access to the
lands, let us start drilling, put our people back to work."

Cantwell says reigning speculators would be a much quicker fix.

"Overnight," she says. "We saw with electricity, we saw with Enron,
how prices got 3,000 times the rate they should be - and once those
federal regulators acted, the price dropped overnight."

U.S. Sen. Maria Cantwell says oil speculators are to blame for
budget-busting prices -

You're JUST figuring this out? Wow.

What makes you say that? I expect most people understand this but
it's one thing to understand it and another to have enough
corroborating information to cite the problem and call for change.

I_am_Tosk wrote:
In ,
says...

The fact is, President Obama told us he wanted higher gas prices to
drive us all to General Electric powered cars, so did his secretary of
energy. Fact is, the Government makes much more money per gallon on
taxes than the Oil companies, only difference is now that gas is twice
as high, the Government gets twice as much while the oil companies still
only make about 3 cents a gallon. Now with the Obama administrations
voter pay back spree of the last two years, do you really think he wants
those prices to go down? After all, the rich corporations and
individuals, health care lobbyists, unions he sold the country out to
need to get their campaign contributions back in spades...




Someone call Child Protective Services in Connecticut and arrange to
have Ingersoll's minor children removed from his household. He's
obviously uninformed and insane, and some of that will be smeared onto
his kids.

jps wrote:
On Sun, 15 May 2011 19:25:53 -0700 (PDT), "*e#c"
wrote:

On May 15, 9:59 pm, wrote:
SEATTLE - With no relief in sight at the gas pump, one of our state's
senators is going on the attack.

U.S. Sen. Maria Cantwell says oil speculators are to blame for
budget-busting prices - and she says it's time to rein them in.

As drivers wonder just how high gas prices can go, Cantwell and other
lawmakers have been grilling oil company execs.

The quick answer seems to be speculation - investors looking for a
quick profit.

"I think we found when these oil company executives testified before
Congress last week that at least one of them said that supply and
demand would mean that oil prices really should be about $60 or $70 a
barrel," Cantwell says. "That would mean Washington drivers would be
paying $2.50 a gallon instead of $4 a gallon."

Cantwell and 15 other U.S. senators say it's time for new rules over
the oil markets to be enforced.

"There is a lot of money flowing into this that is purely from large
institutions, and I think we need rules to make sure they aren't
making the market or are doing things that are artificially driving up
the price," she says.

President Obama opened another front on the war on high prices by
offering new oil and gas leases in the Gulf of Mexico and Alaska's
National Petroleum Reserve.

The president's move comes just days after oil companies complained
that government restrictions are stifling domestic oil production.

"There are shackles on us," said James Mulva, chairman and CEO of
Conoco-Phillips. "Put us back to work - open up, give us access to the
lands, let us start drilling, put our people back to work."

Cantwell says reigning speculators would be a much quicker fix.

"Overnight," she says. "We saw with electricity, we saw with Enron,
how prices got 3,000 times the rate they should be - and once those
federal regulators acted, the price dropped overnight."
U.S. Sen. Maria Cantwell says oil speculators are to blame for
budget-busting prices -

You're JUST figuring this out? Wow.

What makes you say that? I expect most people understand this but
it's one thing to understand it and another to have enough
corroborating information to cite the problem and call for change.


You just gotta love the dumfochs who actually believe the bull**** about
small profit margins spewed by the oil industry.

"We only make 3 cents, 5 cents or 8 cents a gallon and we need those
subsidies."

What a pile of bull**** that is.

Of course, it is "according to generally accepted accounting standards,"
which, loosely translated, means "the numbers are what we say they are,
no more, no less."

We all know how trustworthy and reliable the big accounting firms are.

In article ,
says...


What makes you say that? I expect most people understand this but
it's one thing to understand it and another to have enough
corroborating information to cite the problem and call for change.

It was a good question Cantwell asked, and surprising to hear an oil
company exec answer the question honestly.
I suspect he was the only one of the CEOs who is an honest man.
I watched the hearings.
In regard to futures speculation, oil is a special case because
if affects EVERYBODY.
Who gives a damn that gold is $1500 an ounce or whatever?
It'll crash back down soon.
Industry can use substitutes, and jewelry consumers just stop buying.
My family won't buy gold jewelry at these prices.
Jewelry is more than 50% of the market.
But EVERYBODY gets slammed by oil futures speculation.
That's why alternative energy is needed so badly.
Raising trading margins could tamp down prices to near a realistic
supply/demand fundamentals rate, but the trading exchanges don't want
that.
Not sure what the Obama administration could do without Congressional
approval. He might have emergency powers, but chooses not to use them
for political reasons.
If he takes action, that would confirm he's a Mau Mau.
The Congress directs the CFTC.
It's Republican. Nothing will be done.
Zero. Zilch. Nada.

On Mon, 16 May 2011 13:52:51 -0400, wrote:

On Mon, 16 May 2011 07:54:23 -0400, Harryk
wrote:

What makes you say that? I expect most people understand this but
it's one thing to understand it and another to have enough
corroborating information to cite the problem and call for change.


You just gotta love the dumfochs who actually believe the bull**** about
small profit margins spewed by the oil industry.

"We only make 3 cents, 5 cents or 8 cents a gallon and we need those
subsidies."

What a pile of bull**** that is.

The subsidies do not really have that much to do with profits. These
guys have enough control of the market to guarantee their profit, no
matter where the oil comes from. The subsidy it to encourage drilling
and producing in the US by making the cost competitive with oil from
Nigeria or Mexico.

I could easily argue we are mortgaging our future by not leaving that
oil in the ground here but that is another issue. I do understand why
we do it.
I would suggest we ask the governor of our oil producing states if
they think the subsidies equal jobs.

Total nonsense. That's only one of the sides of the argument...
domestic drilling. What a bunch of hooey.

I would suggest you ask the governor of Louisiana how the BP disaster
affected his state.

Main arguments for energy subsidies a

Security of supply - subsidies are used to ensure adequate domestic
supply by supporting indigenous fuel production in order to reduce
import dependency, or supporting overseas activities of national
energy companies.
Environmental improvement - subsidies are used to reduce pollution,
including different emissions, and to fulfil international obligations
(e.g. Kyoto Protocol).
Economic benefits - subsidies in the form of reduced prices are used
to stimulate particular economic sectors or segments of the
population, e.g. alleviating poverty and increasing access to energy
in developing countries.
Employment and social benefits - subsidies are used to maintain
employment, especially in periods of economic transition.[1]
Main arguments against energy subsidies a

Some energy subsidies counter the goal of sustainable development, as
they may lead to higher consumption and waste, exacerbating the
harmful effects of energy use on the environment, create a heavy
burden on government finances and weaken the potential for economies
to grow, undermine private and public investment in the energy
sector.[2]
Impede the expansion of distribution networks and the development of
more environmentally benign energy technologies, and do not always
help the people that need them most.[2]
The study conducted by the World Bank finds that subsidies to the
large commercial businesses that dominate the energy sector are not
justified. However, under some circumstances it is reasonable to use
subsidies to promote access to energy for the poorest households in
developing countries. Energy subsidies should encourage access to the
modern energy sources, not to cover operating costs of companies.[3]
The study conducted by the World Resource Institute finds that energy
subsidies often go to capital intensive projects at the expense of
smaller or distributed alternatives.[4]