Wednesday, July 16, 2008

Speculation

http://www.stopoilspeculationnow.com/

Came across this while on hold at Delta Airlines. I've read a little bit, seems legit. Worth looking into because there is nothing wrong with the American people learning more about this issue. This is a huge problem and the time has come for us to stop it.

If what I've learned is true, did you know that:

   * most trade activity is all on paper

   * current barrel price levels have $30-$60 in unnecessary speculative cost per barrel

   * speculators buy and sell oil just to sell it again, rather than use it, thus driving up the price over and over

This being an election year, I'd be most interested in hearing McCain's and Obama's plan, or at the very least, their ideas to restore the balance of supply and demand within the oil commodities market. Does either candidate have any solid ideas?

3 comments:

my3gifts said...

Bill O'Reily has talked about this indepth on The O'Reily Factor quite a few times. It's really just rediculous imo that they're allowed to do this, it should be illegal imo. We as Americans have got to become educated on this and so much else and know as well where the info is coming from.

nhd106 said...

Good point!  I don't know if either candidate has any ideas but we certainly SHOULD know.   Thanks for the post...

Nancy

karebear4x4 said...

thanks for the tidbit!!!   i really felt totally ripped off at the pump the other day while gasing my jeep   the gas prices are totally out of control right now!~~kbear