Gasoline Prices

[Michael Larson]

Originally Posted by dedwards

They used to teach all of this in 10th grade Economics. I do not know what they teach today.

Environmentalism and the Evils of Big Business and Capitalism?

Just a guess. My kids were home schooled.

And so far, 3 of them have survived college.

[George A. H. Luck]

"I drive at 90kmh (55mph) and pass not a car on the 4 lane highway that takes me into the city. Transports pass me as I go uphill; some vehicles are definitely going way over the 110 kmh (66 mph) speed limit where gas consumption increases geometrically. Why are they complaining about high gas prices when all they have to do is slow down and enjoy the drive."

55 MPH in a 66 MPH zone. That about says it all. You can't blame the truckers when they drive over you and your Yugo.

[Michael Larson]

Democrats(or most any politician) will never admit they were wrong but is the Democrat "solution" to $4.00 gas the answer?
--------------------------
Democrats Are Cracking Down on Excessive Speculation in the Oil and Gas Markets

THE "STOP EXCESSIVE ENERGY SPECULATION ACT" STRENGTHENS CFTC, INCREASES TRANSPARENCY AND ACCOUNTABILITY IN OIL AND GAS MARKETS

Enhances the CFTC's Resources and Authority. The bill authorizes the CFTC to hire an additional 100 full-time employees to detect, prevent, and punish price manipulation and excessive speculation. The bill also requires the CFTC to use emergency authorities to rapidly implement this act. [S. 3268, Introduced 7/15/08]

Eliminates Excessive Speculation By Those Not Trading Actual Physical Energy Commodities. The bill eliminates excessive speculation by changing the definition of "legitimate hedge trading" to include only those producers and purchasers of actual physical energy commodities, and places limits on trading by those who are not trading actual physical petroleum products. [S. 3268, Introduced 7/15/08]

Closes the "London Loophole" That Allowed Excessive Speculation Through Unregulated Foreign Exchanges. In order to stop oil traders from manipulating prices and speculating excessively through unregulated foreign exchanges, the bill forces U.S.-based oil traders to comply with U.S. trading regulations even when they are trading through foreign exchanges. [S. 3268, Introduced 7/15/08]

Increases Transparency in Over-the-Counter Trading. Currently, large institutional traders -- like investment banks -- can trade oil and gas contracts directly, without going through an exchange or intermediary. The bill requires institutional traders to provide more detailed and disaggregated reporting on their direct, "over-the-counter" transactions so that the CFTC can determine if price manipulation or excessive speculation is taking place. [S. 3268, Introduced 7/15/08]

Increases Transparency of Index Traders and Swap Dealers. The bill requires the CFTC to routinely collect detailed information from index traders and swap dealers. It also requires the CFTC to distinguish between index traders and swap dealers. Finally, it requires a review of CFTC's trading practices to ensure that index traders are not adversely impacting prices. [S. 3268, Introduced 7/15/08]

Establishes Working Groups to Study the Domestic and International Energy Markets. The bill establishes working groups to study the long-term trends in the domestic and international energy markets including the impacts of institutional investing and speculative trading. [S. 3268, Introduced 7/15/08]

Directs the FERC to Study the Role of Financial Institutions in the Natural Gas Market. The bill directs the FERC to undertake a study of the role of financial institutions on natural gas markets to understand the impact of high futures prices on the winter heating season. [S. 3268, Introduced 7/15/08]
--------------
Now just what constitutes Excessive" and who will determine that mysterious level? ML

[Brian A. MacNeish]

Originally Posted by gluck

"I drive at 90kmh (55mph) and pass not a car on the 4 lane highway that takes me into the city. Transports pass me as I go uphill; some vehicles are definitely going way over the 110 kmh (66 mph) speed limit where gas consumption increases geometrically. Why are they complaining about high gas prices when all they have to do is slow down and enjoy the drive."

55 MPH in a 66 MPH zone. That about says it all. You can't blame the truckers when they drive over you and your Yugo.

George:
Just driving within the laws and saving gas; truckers have no problems pulling out and around me!!

You don't hear me complaining about high gas prices, price conspiracies, and "I can't afford to drive my Suburban/Expedition/etc"!!! I drive to save and plan accordingly. Learn how to conserve.

Oh! By the way, you were sorta close with the car.......I drive a Volvo wagon for the business with a 26 foot JAWS ladder on a roof rack and Telesteps in the luggage section for short climbs.

Also BTW, we poor Nova Scotians were one of 2 provinces (the other being Alberta) to have net job gains last month......6200 in a province of under 1 million and we now have the highest % of our population working in history!!

[Brian A. MacNeish]

Originally Posted by mlarson

Democrats(or most any politician) will never admit they were wrong but is the Democrat "solution" to $4.00 gas the answer?
--------------------------
Democrats Are Cracking Down on Excessive Speculation in the Oil and Gas Markets

THE "STOP EXCESSIVE ENERGY SPECULATION ACT" STRENGTHENS CFTC, INCREASES TRANSPARENCY AND ACCOUNTABILITY IN OIL AND GAS MARKETS

Enhances the CFTC's Resources and Authority. The bill authorizes the CFTC to hire an additional 100 full-time employees to detect, prevent, and punish price manipulation and excessive speculation. The bill also requires the CFTC to use emergency authorities to rapidly implement this act. [S. 3268, Introduced 7/15/08]

Eliminates Excessive Speculation By Those Not Trading Actual Physical Energy Commodities. The bill eliminates excessive speculation by changing the definition of "legitimate hedge trading" to include only those producers and purchasers of actual physical energy commodities, and places limits on trading by those who are not trading actual physical petroleum products. [S. 3268, Introduced 7/15/08]

Closes the "London Loophole" That Allowed Excessive Speculation Through Unregulated Foreign Exchanges. In order to stop oil traders from manipulating prices and speculating excessively through unregulated foreign exchanges, the bill forces U.S.-based oil traders to comply with U.S. trading regulations even when they are trading through foreign exchanges. [S. 3268, Introduced 7/15/08]

Increases Transparency in Over-the-Counter Trading. Currently, large institutional traders -- like investment banks -- can trade oil and gas contracts directly, without going through an exchange or intermediary. The bill requires institutional traders to provide more detailed and disaggregated reporting on their direct, "over-the-counter" transactions so that the CFTC can determine if price manipulation or excessive speculation is taking place. [S. 3268, Introduced 7/15/08]

Increases Transparency of Index Traders and Swap Dealers. The bill requires the CFTC to routinely collect detailed information from index traders and swap dealers. It also requires the CFTC to distinguish between index traders and swap dealers. Finally, it requires a review of CFTC's trading practices to ensure that index traders are not adversely impacting prices. [S. 3268, Introduced 7/15/08]

Establishes Working Groups to Study the Domestic and International Energy Markets. The bill establishes working groups to study the long-term trends in the domestic and international energy markets including the impacts of institutional investing and speculative trading. [S. 3268, Introduced 7/15/08]

Directs the FERC to Study the Role of Financial Institutions in the Natural Gas Market. The bill directs the FERC to undertake a study of the role of financial institutions on natural gas markets to understand the impact of high futures prices on the winter heating season. [S. 3268, Introduced 7/15/08]
--------------
Now just what constitutes Excessive" and who will determine that mysterious level? ML

Yes, "excessive speculation" ........just when is it excessive.....20% profit in 3 weeks, 150% in a year. Can any speculation be deemed illegal??

What about Hedge fund trading where making only $250 million a year doesn't even get you in the top 10 or 20 fund managers!!!

http://www.alternet.org/workplace/83297/

[Michael Larson]

Brian, Neither the Bill our yourself have defined "excessive" because you can't. The Bill doesn't intend to. It's a political "feel good" "look we're doing something" exercise in futility.

Now if you can provide an objective standard for "excessive" I'll try to listen.

[jbettencourt]

Originally Posted by Brian A. MacNeish

Yes, "excessive speculation" ........just when is it excessive.....20% profit in 3 weeks, 150% in a year. Can any speculation be deemed illegal??

What about Hedge fund trading where making only $250 million a year doesn't even get you in the top 10 or 20 fund managers!!!

http://www.alternet.org/workplace/83297/

We are in the wrong business ain't we!

[Kenneth Lott]

Ha, even Lou Dobbs is pounding the Dems, for going against Bush, on the drilling issue.

[George A. H. Luck]

"I drive a Volvo "

[Vern Mitchinson]

I paid $1.319 per liter in Edmonton, Alberta today, that's $5.13091 per US Gal or $5.9355 per Imp Gal and Alberta supplies 20% of the oil imported to the US.
The dollr was 99.98CAD = 1 USD. Exchange is not a factor today.

The real piss off is I have to pay more for gas that comes out from under my feet then you guys pay down south. Gotta love the tax man!

[Marcel Gratton]

Originally Posted by vmitchinson

I paid $1.319 per liter in Edmonton, Alberta today, that's $5.13091 per US Gal or $5.9355 per Imp Gal and Alberta supplies 20% of the oil imported to the US.
The dollr was 99.98CAD = 1 USD. Exchange is not a factor today.

The real piss off is I have to pay more for gas that comes out from under my feet then you guys pay down south. Gotta love the tax man!

Vern,

Be realistic, Alberta has no sales taxes...

[George A. H. Luck]

"You don't hear me complaining about high gas prices, price conspiracies, and "I can't afford to drive my Suburban/Expedition/etc"!!! I drive to save and plan accordingly. Learn how to conserve."

And you don't see me driving down the highway at my self righteously slow speed keeping everyone else who has paid for their gas with their own money and at the same time depriving them of the right to burn it as they wish by my version of environmental fascism. Learn to live.

[Brian A. MacNeish]

Originally Posted by vmitchinson

I paid $1.319 per liter in Edmonton, Alberta today, that's $5.13091 per US Gal or $5.9355 per Imp Gal and Alberta supplies 20% of the oil imported to the US.
The dollr was 99.98CAD = 1 USD. Exchange is not a factor today.

The real piss off is I have to pay more for gas that comes out from under my feet then you guys pay down south. Gotta love the tax man!

Move south, Vern!! Oh! And buy a gun.

[Brian A. MacNeish]

Originally Posted by gluck

"You don't hear me complaining about high gas prices, price conspiracies, and "I can't afford to drive my Suburban/Expedition/etc"!!! I drive to save and plan accordingly. Learn how to conserve."

And you don't see me driving down the highway at my self righteously slow speed keeping everyone else who has paid for their gas with their own money and at the same time depriving them of the right to burn it as they wish by my version of environmental fascism. Learn to live.

Don't get it, do you, George? I said a four lane. No one gets to wait behind me, simply pull out and pass me and keep complaining about the cost of gas as the air resistance increases exponentially with your speed.

[George A. H. Luck]

Well Brian, you said you drive a Volvo so I just assumed that you would be hogging the left lane. My bad. ( and I drive the speed limit because I am willing to pay for the priviledge.)
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