Oil speculators also investors?

Question

Wouldn't you like to know the actual names of oil speculators so you could send them a gift or pay them a visit? It must be nice to speculate the price of oil then invest accordingly to bank a hefty profit. Supply and demand.....bull S**t.. The problem with supply "disruptions" could be eliminated in short order, or simply remove those "problem" countries from the supply chain all together until they get their c**p straight. With a loss of revenue like that, they would fix their supply "disruptions" overnight. Most of these excuses are fabricated in the first place. The "leash" on investing and speculating needs to be tightened up, to the point of choking, real soon.

Answer 1

Speculators are not to blame.  They are risking their money every day - that's their job.

If the current White House administration will stop for pushing for war with Iran - the prices WILL come down to $50 area.  The difference is the war premium and the possibility that no oil will flow out of the gulf if this were to happen.

Answer 2

only 9% of current oil contracts are owned by speculators.

The reason oil is rising is due to

1) the demand worldwide is growing fast, especially China.  100,000 new cars are sold monthly in China.  Over 25,000 new cars are sold monthly in India

2)  The US dollar has lost 50% of its international value in the last few years.  So 1/2 of the rise of oil is due just to that.

Answer 3

I like high oil prices it makes suckers with SUVs buy hondas, which will created long term demand destruction, similar to the last oil spike.  That is why I support an high gas tax like the rest of the world.  That is the best way to get back at the countries you speak of, destroy oil demand. We need high gas prices not cheaper to fix the problem.  Gas is $10/ gallon in Europe and they survived fine, there is no reason that the U.S. can't either.  We should have raised gas taxes 15 years ago and avoid the current situtation, plus it would have elimated problems such as Venzula, Iraq, and Iran.  I don't like taxes, so say the gas taxes be used to reduce corporate taxes, as the US has some of the highest corporate taxes in the world, making it harder for US companies to compete with China and the rest of the world. Turning into better jobs for all.

Answer 4

And I suppose the gas guzzling SUVs and 500 hp Cadillacs have nothing to do with the current high price of oil.  Heck.  You ought to see the price over in Europe.  Over $8.00 a gallon.

Oh yes.  I almost forgot.  Then there is the great scheme to use ethonol which requires more energy input than the resulting output and of course is causing 75% inflation in the price of food.

I suppose you must not own any oil stocks or you would not be so morose.