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Old 04-20-2011
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restling restling is offline
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Oil prices and carbon credits

Obama had this to say about high oil prices.

Obama said that global oil supply is adequate and that speculators are driving up prices significantly.

"It is true that a lot of what's driving oil prices up right now is not the lack of supply. There's enough supply. There's enough oil out there for world demand," Obama said.

"The problem is ... speculators and people make various bets, and they say, you know what, we think that maybe there's a 20 percent chance that something might happen in the Middle East that might disrupt oil supply, so we're going to bet that oil is going to go up real high. And that spikes up prices significantly."

So knowing this, why would we be so willing to put another energy component into that system. Couldn't this do the same thing with carbon credits, and be inflationary in every sector that it touches?
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Old 04-20-2011
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Warrior70 Warrior70 is offline
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Quote:
Originally Posted by restling View Post
Obama had this to say about high oil prices.

Obama said that global oil supply is adequate and that speculators are driving up prices significantly.

"It is true that a lot of what's driving oil prices up right now is not the lack of supply. There's enough supply. There's enough oil out there for world demand," Obama said.

"The problem is ... speculators and people make various bets, and they say, you know what, we think that maybe there's a 20 percent chance that something might happen in the Middle East that might disrupt oil supply, so we're going to bet that oil is going to go up real high. And that spikes up prices significantly."

So knowing this, why would we be so willing to put another energy component into that system. Couldn't this do the same thing with carbon credits, and be inflationary in every sector that it touches?
Oil (petroleum) touches most areas of modern life. Without it, we would all live at the same technological state, health status, and industrial state that was found in the 1860s. So, those who express the opinions that we should do away with oil are either misinformed or seriously deluded.

As for the economic reasons mentioned for the increase in gasoline proces, speculation on oil causes the price to increase. That much is certain. However, the current president has followed the illogical ideas expressed by AlGore, who in 1997 staed that he wanted to artificially raise the price of gasoline to $5.00 per gallon. With the inflation over the last 15 years, that price has increased to $7.00 per gallon. The reason for his desire to raise the price of gasoline was to force people away from using petroleum products. The public finally realized that Gore's interest in the environment was solely caused by an economic deal that he negotiated with GE. That deal increased his net worth from $2 million to 125 million, and was completely due to his investments and deals in extreme ecological technology.
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Old 04-20-2011
MAL MAL is offline
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The speculators are speculating that Obama won't drill or release the reserve. It's just about that simple. Sounds like a safe bet to me.
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