quote:

Originally posted by TSU120:

TR

Those countries are use to paying high prices, so its not an issue with them.

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"If you’re a Republican running for president of the United States and the Wall Street Journal basically says you’re an incompetent buffoon, you’re in serious trouble." -Jack Cafferty WSJ

quote:

Originally posted by TSU120:
True

I remember when gas cost 0.90 a gallon.

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On McCain's announcement on suspending his campaign: """It's the longest Hail Mary pass in the history of either football or Marys." - Rep. Barney Frank

quote:

Originally posted by TSU120:
True

I remember when gas cost 0.90 a gallon.

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"If you’re a Republican running for president of the United States and the Wall Street Journal basically says you’re an incompetent buffoon, you’re in serious trouble." -Jack Cafferty WSJ

quote:

"who's taking advantage of this situation."

quote:

As detailed in an earlier article, a conservative calculation is that at least 60% of today’s $128 per barrel price of crude oil comes from unregulated futures speculation by hedge funds, banks and financial groups using the London ICE Futures and New York NYMEX futures exchanges and uncontrolled inter-bank or Over-The-Counter trading to avoid scrutiny. US margin rules of the government’s Commodity Futures Trading Commission allow speculators to buy a crude oil futures contract on the Nymex, by having to pay only 6% of the value of the contract. At today's price of $128 per barrel, that means a futures trader only has to put up about $8 for every barrel. He borrows the other $120. This extreme “leverage” of 16 to 1 helps drive prices to wildly unrealistic levels and offset bank losses in sub-prime and other disasters at the expense of the overall population.

The hoax of Peak Oil—namely the argument that the oil production has hit the point where more than half all reserves have been used and the world is on the downslope of oil at cheap price and abundant quantity—has enabled this costly fraud to continue since the invasion of Iraq in 2003 with the help of key banks, oil traders and big oil majors. Washington is trying to shift blame, as always, to Arab OPEC producers. The problem is not a lack of crude oil supply. In fact the world is in over-supply now. Yet the price climbs relentlessly higher. Why? The answer lies in what are clearly deliberate US government policies that permit the unbridled oil price manipulations.


Global Research

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"If you’re a Republican running for president of the United States and the Wall Street Journal basically says you’re an incompetent buffoon, you’re in serious trouble." -Jack Cafferty WSJ