"JoeSpareBedroom" wrote in message
...
"HK" wrote in message
...


"Big Oil" helps set the price of the crude it buys. You think it doesn't
have "partners" sitting on the OPEC committees?


I'm sure they do. But, there are also speculators at work, in the exact
same way speculators dick with the price of stocks to the point where
their prices are completely disconnected from physical & financial
reality.

Speculative nonsense:


Think back. Although laughable when compared to current values, the price
of oil quadrupled during the oil "shortage" crisis in the early 70's on
Nixon's watch. Later that decade, under Carter it doubled again in less
than 12 months.

Neither had anything to do with Wall Street, Dick Cheney or secret "Big Oil"
meetings with OPEC.

Eisboch

"Eisboch" wrote in message
...

"JoeSpareBedroom" wrote in message
...
"HK" wrote in message
...


"Big Oil" helps set the price of the crude it buys. You think it doesn't
have "partners" sitting on the OPEC committees?


I'm sure they do. But, there are also speculators at work, in the exact
same way speculators dick with the price of stocks to the point where
their prices are completely disconnected from physical & financial
reality.

Speculative nonsense:


Think back. Although laughable when compared to current values, the price
of oil quadrupled during the oil "shortage" crisis in the early 70's on
Nixon's watch. Later that decade, under Carter it doubled again in less
than 12 months.

Neither had anything to do with Wall Street, Dick Cheney or secret "Big
Oil" meetings with OPEC.

Eisboch



That was then. This is now. And (separate issue), in this discussion, I'm
not concerned with any particular politician.

In the long list of things you buy regularly, can you think of 5 or 6 whose
prices are determined by speculators, causing almost daily price swings? I'm
in the grocery biz, and I handle about 500 different products. I don't see
this happening.

How about shoes, or anything else you buy?

"JoeSpareBedroom" wrote in message
...
"Eisboch" wrote in message
...

"JoeSpareBedroom" wrote in message
...
"HK" wrote in message
...


"Big Oil" helps set the price of the crude it buys. You think it
doesn't have "partners" sitting on the OPEC committees?


I'm sure they do. But, there are also speculators at work, in the exact
same way speculators dick with the price of stocks to the point where
their prices are completely disconnected from physical & financial
reality.

Speculative nonsense:


Think back. Although laughable when compared to current values, the
price of oil quadrupled during the oil "shortage" crisis in the early
70's on Nixon's watch. Later that decade, under Carter it doubled
again in less than 12 months.

Neither had anything to do with Wall Street, Dick Cheney or secret "Big
Oil" meetings with OPEC.

Eisboch



That was then. This is now. And (separate issue), in this discussion, I'm
not concerned with any particular politician.

In the long list of things you buy regularly, can you think of 5 or 6
whose prices are determined by speculators, causing almost daily price
swings? I'm in the grocery biz, and I handle about 500 different products.
I don't see this happening.

How about shoes, or anything else you buy?


I am on a conservation kick. I go barefoot.

Seriously, at 100 bucks or so a barrel, I don't see daily price swings of a
few dollars per barrel as being very significant.
There's something more than speculators causing prices to more than double
in two years. I admit, I don't fully understand how oil prices are "set"
despite JimH's links. Seems to me that those who control the goods
determine the price.

Eisboch

"Eisboch" wrote in message
...

"JoeSpareBedroom" wrote in message
...
"Eisboch" wrote in message
...

"JoeSpareBedroom" wrote in message
...
"HK" wrote in message
...


"Big Oil" helps set the price of the crude it buys. You think it
doesn't have "partners" sitting on the OPEC committees?


I'm sure they do. But, there are also speculators at work, in the exact
same way speculators dick with the price of stocks to the point where
their prices are completely disconnected from physical & financial
reality.

Speculative nonsense:


Think back. Although laughable when compared to current values, the
price of oil quadrupled during the oil "shortage" crisis in the early
70's on Nixon's watch. Later that decade, under Carter it doubled
again in less than 12 months.

Neither had anything to do with Wall Street, Dick Cheney or secret "Big
Oil" meetings with OPEC.

Eisboch



That was then. This is now. And (separate issue), in this discussion, I'm
not concerned with any particular politician.

In the long list of things you buy regularly, can you think of 5 or 6
whose prices are determined by speculators, causing almost daily price
swings? I'm in the grocery biz, and I handle about 500 different
products. I don't see this happening.

How about shoes, or anything else you buy?


I am on a conservation kick. I go barefoot.

Seriously, at 100 bucks or so a barrel, I don't see daily price swings of
a few dollars per barrel as being very significant.
There's something more than speculators causing prices to more than double
in two years. I admit, I don't fully understand how oil prices are "set"
despite JimH's links. Seems to me that those who control the goods
determine the price.

Eisboch


It's all the factors working together. Demand is part of it, but not all of
it. The problem is that people will gamble on absolutely anything. If we
added chick pea futures to the other available via the commodities
exchanges, people would be gambling on chick peas.

"JoeSpareBedroom" wrote in message
...
"Eisboch" wrote in message
...

"JoeSpareBedroom" wrote in message
...
"Eisboch" wrote in message
...

"JoeSpareBedroom" wrote in message
...
"HK" wrote in message
...


"Big Oil" helps set the price of the crude it buys. You think it
doesn't have "partners" sitting on the OPEC committees?


I'm sure they do. But, there are also speculators at work, in the
exact same way speculators dick with the price of stocks to the point
where their prices are completely disconnected from physical &
financial reality.

Speculative nonsense:


Think back. Although laughable when compared to current values, the
price of oil quadrupled during the oil "shortage" crisis in the early
70's on Nixon's watch. Later that decade, under Carter it doubled
again in less than 12 months.

Neither had anything to do with Wall Street, Dick Cheney or secret "Big
Oil" meetings with OPEC.

Eisboch



That was then. This is now. And (separate issue), in this discussion,
I'm not concerned with any particular politician.

In the long list of things you buy regularly, can you think of 5 or 6
whose prices are determined by speculators, causing almost daily price
swings? I'm in the grocery biz, and I handle about 500 different
products. I don't see this happening.

How about shoes, or anything else you buy?


I am on a conservation kick. I go barefoot.

Seriously, at 100 bucks or so a barrel, I don't see daily price swings of
a few dollars per barrel as being very significant.
There's something more than speculators causing prices to more than
double in two years. I admit, I don't fully understand how oil prices
are "set" despite JimH's links. Seems to me that those who control the
goods determine the price.

Eisboch


It's all the factors working together. Demand is part of it, but not all
of it. The problem is that people will gamble on absolutely anything. If
we added chick pea futures to the other available via the commodities
exchanges, people would be gambling on chick peas.

And if they are wrong, they lose their shirts.

Supply and demand eventually wins.

"Canuck57" wrote in message
news:Mspyj.32409$w94.4370@pd7urf2no...

"JoeSpareBedroom" wrote in message
...
"Eisboch" wrote in message
...

"JoeSpareBedroom" wrote in message
...
"Eisboch" wrote in message
...

"JoeSpareBedroom" wrote in message
...
"HK" wrote in message
...


"Big Oil" helps set the price of the crude it buys. You think it
doesn't have "partners" sitting on the OPEC committees?


I'm sure they do. But, there are also speculators at work, in the
exact same way speculators dick with the price of stocks to the point
where their prices are completely disconnected from physical &
financial reality.

Speculative nonsense:


Think back. Although laughable when compared to current values, the
price of oil quadrupled during the oil "shortage" crisis in the early
70's on Nixon's watch. Later that decade, under Carter it doubled
again in less than 12 months.

Neither had anything to do with Wall Street, Dick Cheney or secret
"Big Oil" meetings with OPEC.

Eisboch



That was then. This is now. And (separate issue), in this discussion,
I'm not concerned with any particular politician.

In the long list of things you buy regularly, can you think of 5 or 6
whose prices are determined by speculators, causing almost daily price
swings? I'm in the grocery biz, and I handle about 500 different
products. I don't see this happening.

How about shoes, or anything else you buy?


I am on a conservation kick. I go barefoot.

Seriously, at 100 bucks or so a barrel, I don't see daily price swings
of a few dollars per barrel as being very significant.
There's something more than speculators causing prices to more than
double in two years. I admit, I don't fully understand how oil prices
are "set" despite JimH's links. Seems to me that those who control the
goods determine the price.

Eisboch


It's all the factors working together. Demand is part of it, but not all
of it. The problem is that people will gamble on absolutely anything. If
we added chick pea futures to the other available via the commodities
exchanges, people would be gambling on chick peas.

And if they are wrong, they lose their shirts.

Supply and demand eventually wins.


But someone always wins, no matter what happens to the speculators. That's a
multi-million dollar business, and it does not serve the best interests of
this country.

JoeSpareBedroom wrote:
"Canuck57" wrote in message
news:Mspyj.32409$w94.4370@pd7urf2no...
"JoeSpareBedroom" wrote in message
...
"Eisboch" wrote in message
...
"JoeSpareBedroom" wrote in message
...
"Eisboch" wrote in message
...
"JoeSpareBedroom" wrote in message
...
"HK" wrote in message
...

"Big Oil" helps set the price of the crude it buys. You think it
doesn't have "partners" sitting on the OPEC committees?

I'm sure they do. But, there are also speculators at work, in the
exact same way speculators dick with the price of stocks to the point
where their prices are completely disconnected from physical &
financial reality.

Speculative nonsense:

Think back. Although laughable when compared to current values, the
price of oil quadrupled during the oil "shortage" crisis in the early
70's on Nixon's watch. Later that decade, under Carter it doubled
again in less than 12 months.

Neither had anything to do with Wall Street, Dick Cheney or secret
"Big Oil" meetings with OPEC.

Eisboch


That was then. This is now. And (separate issue), in this discussion,
I'm not concerned with any particular politician.

In the long list of things you buy regularly, can you think of 5 or 6
whose prices are determined by speculators, causing almost daily price
swings? I'm in the grocery biz, and I handle about 500 different
products. I don't see this happening.

How about shoes, or anything else you buy?

I am on a conservation kick. I go barefoot.

Seriously, at 100 bucks or so a barrel, I don't see daily price swings
of a few dollars per barrel as being very significant.
There's something more than speculators causing prices to more than
double in two years. I admit, I don't fully understand how oil prices
are "set" despite JimH's links. Seems to me that those who control the
goods determine the price.

Eisboch

It's all the factors working together. Demand is part of it, but not all
of it. The problem is that people will gamble on absolutely anything. If
we added chick pea futures to the other available via the commodities
exchanges, people would be gambling on chick peas.
And if they are wrong, they lose their shirts.

Supply and demand eventually wins.


But someone always wins, no matter what happens to the speculators. That's a
multi-million dollar business, and it does not serve the best interests of
this country.



Why doesn't it serve the best interests of this country?