Talk about clueless:
WASHINGTON – President Barack Obama announced Thursday that his administration would investigate to see if fraud or manipulation in oil markets was behind the sharp increase in gasoline prices.
Hey, O’Blivious, how’s about looking at the fact that denying drilling permits in the US is keeping us dependent on Foreign Sources of Oil? How’s about looking at the fact that if we could supply our own needs, OPEC wouldn’t be able to dictate prices and availability?
“We are going to make sure that no one is taking advantage of the American people for their own short-term gain,” Obama said at a town-hall meeting in Reno.
He said a government task force under Attorney General Eric Holder would “root out any cases of fraud or manipulation” in gasoline prices, “and that includes the role of traders and speculators.”
Financial speculation is widely considered a possible reason for higher oil prices.
Source: White House investigating big increase in gas prices
Hey, O’Blivious, nice back hand towards the free market idea of supply and demand, and finding a way to make money in this (or any!) economy! “Financial speculation” is also known as investing, buying and selling stock, or even venture capitalizing, without which most businesses would be going away completely.
Investing allows a business to use capital for needed things – inventory, tooling, infrastructure – that it cannot afford on it’s own, yet needs for expansion and further gasp! success as a going concern.
I know, success of a going concern is anathema to a progressive socialist such as yourself, but bear with me.
Buying and selling stock (or futures trading) gives those without enough cash to directly invest in a company a chance to get in on the financial prospects of helping companies succeed, without a large outlay of cash. (see “investing” above) While not benefiting from large paybacks like a direct investor, the small gains and losses made provide enough incentive to keep cash flowing to and from the business sector.
Venture Capital, Mr. O’Blivious, is when someone with a lot of cash (kind of like your own Mr. Soros) hands a large chunk of that cash over to someone with a great idea, and lets them develop a business without limitations, except how much venture capital was infused. This has the biggest payback, most of the time, since none of the venture capitalists I know of would hand over cash to someone trying to sell ice to eskimos. (with the exception, obviously, of your Mr. Soros)
So – the “financial speculation” you speak of in an uneducated manner are actually Joe and Mary Investor, looking at trends and forecasts and placing money where they think they can grow it and pile up their personal wealth. As long as YOU, Mr. O’Blivious, continue to allow your Earth Muffin co-conspirators dictate how and when we as a nation drill for oil, the market for oil will continue to be a nice, wealth-creating area for investors to play in.
IF, however, you ever actually let the oil and gas companies drill on or around US soil, releasing us from the thumb of OPEC and their self-interest driven “limits” and “concerns” then the price of oil futures would drop so fast even your already dizzy head would spin. The price of gasoline would drop, allowing Joe and Jane Worker to actually afford more than gas in the “gas or groceries” weekly debate, allowing more spending by consumers everywhere, allowing the economy to GROW and PROSPER and leading the United States of America back to the top of the economic mountain. The cost of goods transported would drop, due to the lower fuel costs, and again, the economy would do nothing but rebound.
However, since it is OBVIOUS that your plan is to run this country into the ground, you will never allow the US to develop it’s own sources for oil, isn’t that right?
* – tip of the thinking hat to – wait, i can’t remember whose blog i saw this spelling on. i’ll get back to you on that.
Chat ya later…
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