Comments on: Oil prices: Time for concern?

By: Brad Gorr

Brad Gorr — Thu, 22 Oct 2009 13:09:31 +0000

No one in government,high finance,Wall St.,or foreign countries….did I leave anyone else out??

By: James F.

James F. — Wed, 21 Oct 2009 21:42:12 +0000

Yes when Wall Street discovered they could manipulate the price of oil to make billions the consumer became the loser. To bad supply and demand has little to do with it today. The oil producing countries can cut production, the gas end of the business shuts down a plant or two and the speculators on Wall Street take information to force prices up or down. Maybe we all should invest in oil futures to depress the income opportunity of these bastards. And where is our savior BO on this. Don’t be fooled by the stock market because it will soon take another hard fall as consumer confidence drives people back to investing in the market. Then when it get’s that money back into the system they will crash it again and the super rich will gobble up the bargain stocks as the person saving for retirement bails out at a loss! Who can we trust?

By: Brad Gorr

Brad Gorr — Tue, 20 Oct 2009 20:14:00 +0000

Yes I have done the research!Supply is up and demand down…..that doesn’t matter to traders on Wall St.What they rely on is false news of the economy getting better….resulting in the stock market going over 10,000 again due to the frenzy of speculators.Oil futures are up no doubt due to this “great” news.More people get into the game then thus driving the futures up.It can go the other way also but that depends on gloomy economic and employment news….remember when foreclosures and unemployment were at their height?Gas was under 2$ a gallon then wasn’t it??Don’t forget that the $ is not the only world currency to be devalued…..the Saudi’s took a hit too by investing heavily in our real estate markets and large banks(Citibank)…they don’t want our economy to collapse and neither do the Chinese,Japanese,etc,etc as ALL THESE COUNTRIES own a large piece of the “American Pie”.Research?I suggest you check out some of the 60 minutes news stories that were aired in the last 6 months.

By: Unemployed Granny

Unemployed Granny — Tue, 20 Oct 2009 11:23:34 +0000

This is just another nail in the coffin of those of us who need it the most…and can afford it the LEAST.

By: David Gatch

David Gatch — Tue, 20 Oct 2009 10:56:29 +0000

Speculators are doing the nation a disservice, it was high gas prices that PUSHED the economy over the edge and these profiteers are little more than traitors. Obama needs to remove his head from his rear end, its the economy stupid he’s AWOL on the real issues.

By: Brad Gorr

Brad Gorr — Mon, 19 Oct 2009 17:38:29 +0000

I agree that oil prices have gone up due to $ devaluation but that is not the major cause.The cause that I speak of is one that begins on wall street.Our government continues to let these clowns swap oil futures without taking delivery of the actual barrels of oil.This causes greater speculation thus prices go up when supposed “good news”is heard.It turns into a paper pushing game.Supply and demand is a factor also….the Chinese put thousands of new drivers on their roads daily thus their consumption increases and world supply dwindles.We are not the only ones who use vast quantities that we cannot supply ourselves!

By: George

George — Mon, 19 Oct 2009 17:18:13 +0000

Oil prices are the only thing that will bring the economy down and force us into a W shaped recovery..another recession.

By: Fred

Fred — Mon, 19 Oct 2009 13:43:55 +0000

Agreed, it’s not all Bush’s fault. However, he makes a great scape goat and it’s convenient to blame everything on him. The new messiah gets a free pass.

By: All of you who have responded so far...

All of you who have responded so far... — Mon, 19 Oct 2009 13:36:21 +0000

…have no clue re: the rise in oil prices. It has nothing to do with supply and demand these days or the fact that winter is coming. Right now, if you would do some research before commenting about the conspiracy theory, you would know that supply is UP and demand is STILL down.

The cost shift centers strictly upon the devaluation of the American dollar; when it goes down the price of anything imported goes up. Hence, the shift in the cost of oil.

However, I do believe that the oil shieks and others in the oil producing countries are at the head of the class in causing the value of the dollar to decline. They will do anything to keep that price high, and when the U.S. decreased their oil consumption they had to do something to keep their profits high – hence the current state of affairs, and Obama is not helping by continuing to print dollar bills a Monopoly money.

But, as all the anti-Bush people said the last 8 years, whenever the price of oil went up, it’s all Bush’s fault, still – NOT.

By: Brad Gorr

Brad Gorr — Mon, 19 Oct 2009 13:22:28 +0000

Oil prices go hand in hand with economic recovery.The more we spend on gas and oil byproducts the less we have to spend on other hard goods which results in smaller orders to factories which result in layoffs…hence higher unemployment!Washington knows this but they stand by and say the economy is getter better.Where,in Saudia Arabia?