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billyk
Coal
Joined: Nov 01, 2007
Posts: 15
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 Posted: Sat Nov 17, 2007 12:35 pm Post subject: speculators/traders |
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| In a news release this past week the Saudi oil minister put alot of the blame on hedge funds, traders & speculators for the run up of the oil prices. He said that the market is well supplied and oil should be around 60.00 a barrel. Is there any way to put some controls on these speculators and others who basically play the market & artificially run up the price of oil. Seems like to valuable a commodity to play around with. billyk |
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truecougarblue
Heavy Crude
Joined: Dec 21, 2005
Posts: 476
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| Posted: Sat Nov 17, 2007 2:30 pm Post subject: Re: speculators/traders |
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Don't look at me, I don't trade oil.
BTW, oil would actually be more expensive much of the time and price would swing wildly without a futures market. The futures market helps industries hedge against these fluccuations.
No one wants to pay $3 for gas one day and $12 the next.
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Cougar
"Use it up, wear it out, make it do, or do without." - Brigham Young |
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americandream
Fission
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Joined: Oct 18, 2004
Posts: 2103
Location: kiwibush
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| Posted: Sat Nov 17, 2007 5:28 pm Post subject: Re: speculators/traders |
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| billyk wrote: | | In a news release this past week the Saudi oil minister put alot of the blame on hedge funds, traders & speculators for the run up of the oil prices. He said that the market is well supplied and oil should be around 60.00 a barrel. Is there any way to put some controls on these speculators and others who basically play the market & artificially run up the price of oil. Seems like to valuable a commodity to play around with. billyk |
Yes, its called Marxism.
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Bugger me, I hear oil's runnin out mate! |
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big_rc
Heavy Crude
Joined: Jul 17, 2004
Posts: 490
Location: Amerika (most of the time)
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| Posted: Sun Nov 18, 2007 7:38 am Post subject: Re: speculators/traders |
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| billyk wrote: | | In a news release this past week the Saudi oil minister put alot of the blame on hedge funds, traders & speculators for the run up of the oil prices. He said that the market is well supplied and oil should be around 60.00 a barrel. Is there any way to put some controls on these speculators and others who basically play the market & artificially run up the price of oil. Seems like to valuable a commodity to play around with. billyk |
Hey BillyK,
You probably also thought there were WMDs in Iraq also. Don't believe everything you read (especially when it comes to oil).
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Simon's Law: Everything put together falls apart sooner or later.
I don't think of all the misery, but of all the beauty that still remains.--Anne Frank |
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billyk
Coal
Joined: Nov 01, 2007
Posts: 15
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| Posted: Sun Nov 18, 2007 2:12 pm Post subject: Re: speculators/traders |
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| truecougarblue wrote: | Don't look at me, I don't trade oil.
BTW, oil would actually be more expensive much of the time and price would swing wildly without a futures market. The futures market helps industries hedge against these fluccuations.
No one wants to pay $3 for gas one day and $12 the next. |
Cougar- as we used to say in college-" I don't care how you bring em- just bring em young!! billyk |
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billyk
Coal
Joined: Nov 01, 2007
Posts: 15
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| Posted: Sun Nov 18, 2007 2:14 pm Post subject: Re: speculators/traders |
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| big_rc wrote: | | billyk wrote: | | In a news release this past week the Saudi oil minister put alot of the blame on hedge funds, traders & speculators for the run up of the oil prices. He said that the market is well supplied and oil should be around 60.00 a barrel. Is there any way to put some controls on these speculators and others who basically play the market & artificially run up the price of oil. Seems like to valuable a commodity to play around with. billyk |
Hey BillyK,
You probably also thought there were WMDs in Iraq also. Don't believe everything you read (especially when it comes to oil). |
of Course RC- and Iran will blow up the world with Nukes!! billyk |
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whereagles
Intermediate Crude
Joined: Aug 17, 2005
Posts: 582
Location: Portugal
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| Posted: Sun Nov 18, 2007 3:44 pm Post subject: Re: speculators/traders |
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| Speculation is capitalism. If you don't like it, you can vote for the communist party, kthnx. |
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