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sillytrucker Rookie Author New York Posts:1 Points:120 Joined:Feb 2012	Message Posted: Feb 25, 2012 10:37:13 AM Ignore sillytrucker Report Abuse As speculator are causing oil prices to go up, things we buy other than gas go up too. Which means the product that these speculator buy they have to pay more for them too. Are they really profiting? If so at what cost? Its cositing America as a nation putting people who are just making it into provety, lossing their jobs and even their homes. WHAT ARE THEY THINGKIN?

sillytrucker

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New York

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Points:120
Joined:Feb 2012

Message Posted: Feb 25, 2012 10:37:13 AM

Ignore sillytrucker Report Abuse

As speculator are causing oil prices to go up, things we buy other than gas go up too. Which means the product that these speculator buy they have to pay more for them too. Are they really profiting? If so at what cost? Its cositing America as a nation putting people who are just making it into provety, lossing their jobs and even their homes. WHAT ARE THEY THINGKIN?

REPLIES (newest first)Ignore Short Messages

Captviper13 Champion Author Virginia Posts:1,980 Points:620,885 Joined:May 2011	Message Posted: May 10, 2012 2:04:30 PM Ignore Captviper13 Report Abuse the bigger problem is that we are both hurting ourself as well as rewarding ourselves since alot of the 401K are tied into the gas market.
PithyOpiner Champion Author Stockton Posts:16,184 Points:1,593,545 Joined:Jun 2008	Message Posted: May 10, 2012 1:09:49 PM Ignore PithyOpiner Report Abuse Well, I'll tell you what they are thinking, sillytrucker. They think that if they can make millions, then the few more dollars they have to pay for gas and all the other things they are making "go up" will only be chump change for them. You have to agree with that kind of thinking, right?
CaptDave2012 All-Star Author Arkansas Posts:695 Points:24,735 Joined:Feb 2012	Message Posted: Apr 18, 2012 12:14:09 AM Ignore CaptDave2012 Report Abuse Back when I owned 8 1/8th interest in 8 wells (Southern Illinois - 1973-76) we were selling the crude @ no more than $20 a barrel. And we made $$.
Houckster Champion Author Atlanta Posts:9,337 Points:693,275 Joined:Sep 2003	Message Posted: Apr 15, 2012 11:01:38 AM Ignore Houckster Report Abuse The estimate of $25 per barrel due to speculation comes from an interview on the PBS New Hour. I do not know where GRAMPI47 got the $40 estimate.
Shockjock1961 Champion Author Illinois Posts:20,096 Points:2,181,180 Joined:Apr 2006	Message Posted: Apr 15, 2012 10:54:25 AM Ignore Shockjock1961 Report Abuse Did the voices in your head tell you this Grampi?
grampi47 Champion Author Illinois Posts:5,938 Points:78,845 Joined:Apr 2006	Message Posted: Apr 15, 2012 8:40:58 AM Ignore grampi47 Report Abuse "The last estimate I heard is that speculation is adding about $25 to the cost of a barrel of oil." It's more like $40....
PithyOpiner Champion Author Stockton Posts:16,184 Points:1,593,545 Joined:Jun 2008	Message Posted: Apr 4, 2012 10:51:39 AM Ignore PithyOpiner Report Abuse Mertieman, Gecko said that "greed is good." Who are you to contradict him?!
MertieMan Champion Author Lexington Posts:14,768 Points:2,891,610 Joined:May 2005	Message Posted: Mar 18, 2012 8:50:05 AM Ignore MertieMan Report Abuse Speculators don't actually take delivery of oil, they just keep the prices up to pad their pockets, like investors and oil companies, Greed is the name of the game.
Houckster Champion Author Atlanta Posts:9,337 Points:693,275 Joined:Sep 2003	Message Posted: Mar 18, 2012 7:18:29 AM Ignore Houckster Report Abuse The last estimate I heard is that speculation is adding about $25 to the cost of a barrel of oil. This is what you get when we balk at converting to new technologies. Getting off the oil standard is the one of the most important things we can do.
OceansidePoms Champion Author Massachusetts Posts:1,680 Points:684,325 Joined:Nov 2008	Message Posted: Mar 17, 2012 11:24:26 PM Ignore OceansidePoms Report Abuse They're thinking about themselves... They don't give one f about us... In the end it's always "survival of the fittest" & "each man for himself"... Sad, but true...
Lerxst17 Champion Author Dallas Posts:1,010 Points:393,900 Joined:Feb 2012	Message Posted: Mar 17, 2012 9:59:56 PM Ignore Lerxst17 Report Abuse I hate speculators.
PithyOpiner Champion Author Stockton Posts:16,184 Points:1,593,545 Joined:Jun 2008	Message Posted: Mar 17, 2012 8:18:35 PM Ignore PithyOpiner Report Abuse They are thinking of themselves and their families and making as much money as they can. Same as you and me.
drawee Champion Author Texas Posts:2,285 Points:444,060 Joined:Feb 2012	Message Posted: Feb 29, 2012 9:34:29 AM Ignore drawee Report Abuse Me Generation...
drawee Champion Author Texas Posts:2,285 Points:444,060 Joined:Feb 2012	Message Posted: Feb 29, 2012 9:34:24 AM Ignore drawee Report Abuse Me Generation...
kookiwoogi Champion Author Indiana Posts:7,723 Points:2,770,015 Joined:May 2004	Message Posted: Feb 28, 2012 6:26:34 PM Ignore kookiwoogi Report Abuse They are thinking, money, money, and more money for themselves.
Sneakers55 Champion Author Houston Posts:51,253 Points:2,140,250 Joined:Nov 2005	Message Posted: Feb 28, 2012 5:27:44 PM Ignore Sneakers55 Report Abuse On Feb 27, 2012 2:06:32 PM, brerrabbitTX wrote: >The best thing to do is own an oil well or a least collect >royalties off one. Oil and gas royalty trust units of beneficial interest can be purchased cheaply at any discount stockbroker worth using. I will say they are best either held in an IRA (where you only have to worry about taxes when you withdraw) or with good tax software (where you line up all the forms in a stack and key them in when the software asks for them). Even if you do your taxes on your own, most of the royalty trusts give detailed instructions. >It's a perfect hedge, as the price of oil goes up you make >a bunch of money to cover the higher prices of everything. My experience is my distributions go up even faster than oil prices because they typically sell to the highest bidder and the prices for their production inputs go up more slowly. [Edited by: Sneakers55 at 2/28/2012 6:29:14 PM EST]
PithyOpiner Champion Author Stockton Posts:16,184 Points:1,593,545 Joined:Jun 2008	Message Posted: Feb 28, 2012 3:08:10 PM Ignore PithyOpiner Report Abuse I dug in my back yard for a long time and all it got me was a citation from city hall threatening to take me to court if I didn't "cease and desist." Whatever that means. Nobody in the cul-de-sac will speak to me, now.
brerrabbitTX Champion Author Houston Posts:1,024 Points:18,165 Joined:Mar 2011	Message Posted: Feb 27, 2012 2:06:32 PM Ignore brerrabbitTX Report Abuse Hey Pithy, The best thing to do is own an oil well or a least collect royalties off one. It's a perfect hedge, as the price of oil goes up you make a bunch of money to cover the higher prices of everything. As the old Western Oil Field Services commercial used to say, "if you don't have an oil well, get one, you will love doing business with Western".
PithyOpiner Champion Author Stockton Posts:16,184 Points:1,593,545 Joined:Jun 2008	Message Posted: Feb 27, 2012 1:59:54 PM Ignore PithyOpiner Report Abuse Yes, sillytrucker, listen to grampi47. He is right. And, you and he would be doing the same thing if you were a speculator in commodities. By the way, there is nothing holding you back from becoming a specklelator and making millions, too.
grampi47 Champion Author Illinois Posts:5,938 Points:78,845 Joined:Apr 2006	Message Posted: Feb 25, 2012 10:57:36 AM Ignore grampi47 Report Abuse The cronies of the oil industry (the oil barons and the specualtors) don't give a rat's a$$ about how their greed destroys the world economies....all they care about is their lavish lifestyles and their multi-million dollar pensions...