Is manipulation responsible for the skyrocketing price of oil? (page 3)

Robdar

Could the falling dollar be responsible for the skyrocketing price of oil? Have you compared US currency to other currencies lately? It's dismal.

golf2

Check out General Smedley Darlington Butler under "War is a Racket".

What we have here is a controlled manipulation.

http:www.twf.org/News/Y2001/0911-Racket.html

Golf

BurnTheShips

Could the falling dollar be responsible for the skyrocketing price of oil?

In part, yes this is true. But oil has been rising in terms of other currencies as well. Like Euros and Pounds for example.

So no, it is not just a monetary inflation issue.

BTS

chrisjoel

www.runyourcarwithwater.com/?hop=cyprusmete

Just run your car on Water.

The snake-oil salesman in the video basically electrolyses water, into it's constituent elements leaving 2 Hs and and an O. Electrolysis requiresan energy input, basically an electric current is run through the water and it splits into H2, and O. THIS IS NOTHING NEW. Nothing is gained. More energy is lost in making the H2/O fuel than is gained with burning it. The burning is the H2/O recombining into H2O and releasing energy as heat. This is a losing proposition. 2nd Law.

Indo_Dude

Actually according to the Senate investigation of 2006, almost 60% of the price of oil is attributable to rampant speculation (aka..manipulation via Goldman Sach's).

2006 Senate Report - Until recently, US energy futures were traded exclusively on regulated exchanges within the United States, like the NYMEX, which are subject to extensive oversight by the CFTC, (Commodity Futures Trading Commission)including ongoing monitoring to detect and prevent price manipulation or fraud. In recent years, however, there has been a tremendous growth in the trading of contracts that look and are structured just like futures contracts, but which are traded on unregulated OTC electronic markets.
The trading of energy commodities by large firms on OTC electronic exchanges was exempted from CFTC oversight by a provision inserted at the behest of Enron and other large energy traders into the Commodity Futures Modernization Act of 2000 in the waning hours of the 106th Congress. The impact on market oversight has been substantial. NYMEX traders, for example, are required to keep records of all trades and report large trades to the CFTC. These Large Trader Reports, together with daily trading data providing price and volume information, are the CFTC’s primary tools to gauge the extent of speculation in the markets and to detect, prevent, and prosecute price manipulation. In contrast to trades conducted on the NYMEX, traders on unregulated OTC electronic exchanges are not required to keep records or file Large Trader Reports with the CFTC, and these trades are exempt from routine CFTC oversight. In contrast to trades conducted on regulated futures exchanges, there is no limit on the number of contracts a speculator may hold on an unregulated OTC electronic exchange, no monitoring of trading by the exchange itself, and no reporting of the amount of outstanding contracts (“open interest”) at the end of each day.”

http://www.financialsense.com/editorials/engdahl/2008/0502.html

PrimateDave

So, chrisjoel, have you bought the instruction book from this web site?

They are promoting a "Brown's Gas" conversion. For more information on Brown's Gas check out the Wikipedia link on Oxyhydrogen.

Technically, claiming that a car can be Water Fueled is misleading at best. Actually, it would be "Hydrogen Fueled" because water itself is a very stable chemical compound. You have to extract the Hydrogen from the water molecule, and this is done using Electrolysis. Aside from the difficulties of storing corrosive hydrogen gas, it takes lots of electricity to make it in sufficient quantities to make it viable for use in transportation. You may do better with an electric car instead.

Dave

Indo_Dude

Then again I have to wonder, aren't Americans in a pickle they created in the first place? Don't we truly 'deserve' the current situation since for decades the American public has punished any pol who tried to enact gasoline taxes to better reflect the true cost of oil products? In 1992 Al Gore was pushing for a $ .50 a gallon gas tax. He also said in 2000 for an energy policy for his administration; 'As president, I will bring all the parties and stakeholders together. I am going to come up with a solution that respects the environment and does not cause an upheaval in the economy'. Americans voted for George Bush instead. After 9/11 instead of a new energy policy America went to war to secure oil. George Bush was reelected. Aren't the American people the only ones to blame for their own situation? I think they are.

PrimateDave

I think blame is a bit too strong a word to use here. The American people don't deserve suffering any more than the Chinese, Russians, or anyone else for that matter. One might think that the USA ought to have known better, but that doesn't take into account the world's best propaganda machine. Anyone who has watched or read Manufacturing Consent understands how it works. Even the "elites" often can't see beyond the bottom [profit] line, so there is no real leadership to be found that can't be bought.

Dave

Indo_Dude

I'm sorry but the writing has been on the wall for a very long time. Just because people chose to ignore it doesn't mean they can say they didn't see it happening. In fact, if you look at all these 'gas is too high' threads, it's 99% of North Americans complaining. Our European posters stay silent, or just say 'it's not that big of deal'.

After 9/11 it would have been quite easy for the sitting President to have a JFK moment, and remake America's energy plan. So that America didn't have to buy so much oil from the nations that 'hate' America the most. It most certainly wouldn't have taken $2.5 trillion as we have spent in Iraq to move forward with a plan to reduce our oil needs by 15% or 3.5 million barrels per day. It would have taken a fraction of that. Iran and Iraq combined export just shy of 4 million barrels per day.

America had oil crisises before too. In the early 70's. Again in the early 80's. And right after Gulf War I in 1992. Everyone complained then too. As soon as the price came down, Americans forgot about it and bought bigger and bigger vehicles with more and more horsepower while moving further and further away from their places of employment. When will we learn? Will we actually do anything this time? Or if prices come down again shortly forget all about it again until the next crisis? History isn't promising.

Is manipulation responsible for the skyrocketing price of oil?

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