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 OBAMA’S BLAME GAME ...This Time Oil Speculators..AGAIN!!

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Abracadabra
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PostSubject: OBAMA’S BLAME GAME ...This Time Oil Speculators..AGAIN!!   Thu 19 Apr 2012, 5:43 am


Last year.....Obama Blames Oil Spectators for High Oil Prices; April 19th, 2011, remarks by Obama at a town hall meeting.

Now...

17 Apr 2012, Obama needs $52 Million dollars to fund “more cops on the beat” to police Oil Speculators’ activities and keep us safe from those nasty old capitalists. Obama takes exception to speculators making a profit off of buying, holding and selling (at a profit) commodities and stock issues known as “futures”.

Obama can’t figure out a way to blame anybody else at the moment.

While the Commodity Futures Trading Commission (CFTC) does periodically find isolated examples of speculator wrong doing, previous CFTC investigations have found no evidence that oil speculators are artificially driving up the price of oil over the long term.


Heritage’s David Kreutzer explains that the president’s “the speculators did it” argument is flawed on several levels. If speculators are making unconscionable profits on energy, why are they only doing it occasionally and not all the time? Why are there only speculators in oil, not natural gas (whose current price is about half of what it averaged over the last decade)?

Kreutzer writes:

For speculation to drive up prices, the speculators must either cause oil production to slow down (which they haven’t) or to pull oil off the market. If the flow of petroleum and its products remains unchanged, the price at the pump will not change. If petroleum is pulled off the market, which can happen even though there are limits to what can be stored, it will eventually come back on the market.

The question becomes, ‘When the oil comes back on the market, is the price higher or lower than when it was pulled off the market?’ The price will only be higher if the amount supplied at that time is lower or the demand is higher. In either of those cases, speculators have helped moderate price fluctuations and will be rewarded with profits. If the price is lower, then the speculators did a bad thing and will be punished by losing money.

In short, the president’s theory that devious energy speculators are at work driving up the price of oil just doesn’t hold water. So what’s the point of all this? Action for the sake of action, in order to provide a distraction from his failed energy policies.




http://blog.heritage.org/2012/04/18/morning-bell-obamas-new-gas-price-scapegoat/?utm_source=Newsletter&utm_medium=Email&utm_campaign=Morning%2BBell








Hope and change voters....do not forget to after you enjoy a  with obama Kool-Aid....sweetened with NutraHope!

Many people (that I know) are alive only because it’s illegal to shoot them.

Ronald Reagen said it best.......The trouble with our liberal friends is not that they are ignorant, but that they know so much that isn’t so.

"You can ignore reality, but not the consequences of ignoring reality." Ayn Rand

The truly educated never graduate !

When the Going Gets Tough, the Tough Get Going. The Smart Left a Long Time Ago.

I have always said I don't care what you do or with whom you do it, but don't demand that I think that it is normal or that it is OK!!!!

Only two things are infinite, the universe and human stupidity!
how rude

Defining....Abracadabra … cursing censored


Last edited by Abracadabra on Thu 19 Apr 2012, 6:24 am; edited 1 time in total (Reason for editing : add last year note)
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OBAMA’S BLAME GAME ...This Time Oil Speculators..AGAIN!!

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