Pumping For Information

By Associated Press
.

Investigation launched on record oil prices. Is someone tampering with prices? Pumping For Information
Published: Thu, May 29, 2008 - 9:46 pm Last Updated: Thu, May 29, 2008 - 10:42 pm
Federal regulators want to find out if
anybody's been tampering with the price of oil.
For six months now, they've been conducting an investigation
into U.S. oil markets -- focusing on possible price manipulation.
The Commodity Futures Trading Commission says it started the
probe in December. It says it's now publicizing it -- an unusual
move -- because of what it calls the "unprecedented market
conditions."
Since early December, crude prices have risen more than 42
percent.
Analysts say the action will probably have a limited impact on
oil prices. They've risen on a combination of factors, including
growing demand in China and other developed nations.
But one strategist says a message is being sent to speculators
who've helped drive energy futures higher. Howard Simons of Bianco
Research in Chicago says the message is, "You either stop this or
we're going to stop it for you."

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carl, jimmy carter gave us the gas tax and back then it meant as much to people as todays prices
people became very angry but did nothing but it did clear the way for reagan (thank God) america under carter became the laughing stock of the world but he did sit aside part of alaska for future oil drilling the only smart thing he ever did i dont care who it is if we depend on them for something and they get angry and cut us off we are stuck, but if we are not dependent on anyone we will be ok

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hglass911 , why get out of iraq we should take iraq’s lead and start drilling for our own oil become a exporter and not a importer if its not the speculators who are driving the price of oil up it will be the government look at connecticut

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In the 70’s we had an oil shortage due to the oil embargo but you didn’t see this going on, prices rising for no apparent reason other than greed by speculators and the oil industries. I think i saw on another site where the Saudis were getting $58 a barrel for crude and the rest of the price was due to speculators and costs from the oil industries and refineries. Seems the oil people don’t know how to plan ahead for refining the crude or they are following a well laid out plan. I would have to say the well laid out plan. These people aren’t dummies, they know how to do it and shift the blame else where. The speculators are just after as much money as they can get, regardless of what happens or who gets hurt. There’s no oil shortage this time around, just a morals shortage.

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Yes, people have been manipulating the market. Yes, there is more demand, but there isnt a significant enough demand to cause record high prices. Research the conflicts in the late 70s/early 80s…look at what countries were involved, look at how the prices sky-rocketed, and look at what happened when the conflict was resolved. It doesn’t take a genius to figure it out…simple solution: GET OUT OF IRAQ!

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That probably would be a blast at a karaoke bar. grin

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BamaBob, I don’t think that was a light bulb lighting up over your head, Probably premature ignition of some methane. Makes you want to break out singing ROCKET MAN doesn’t it.

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BamaBob that is the funniest thing ive heard all day!

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While having dinner at a very nice Mexican restaurant, an idea came to me.  A possible alternative energy source could very well be re-fried beans!  By volume they can create more gas than a barrel of crude!!!!!

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Don’t you just wish we would have another American Revolution and get rid of all the Politicians and judges and start fresh! It would take 300 years to get this crooked again in Washington. So I join with you MREMANN83 and sing in concert at them, NANNY NANNY BOO BOO!! It makes just as much sense as most of what they do.

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the point is for the government to waste more tax payer dollars and pretend they are doing something about the oil prices.

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