wrote in message
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On Dec 24, 3:07 pm, "JoeSpareBedroom" wrote:
wrote in message

...

We could also reduce the price by eliminating speculators who are not
directly connected with the oil business. There's no sane reason for
players
to be fiddling with the price of a commodity that's so important to the
country. Let the oil companies hedge. Keep mutual fund managers out of
the
game. Too much emotion (and bull****) involved.

Another populist opinion based on ignorance. You obviously don't
understand how the futures markets work, the purpose they serve and
who the players are.

++++++++++++++++++++=

For some speculators, the purpose is nothing but to turn a quick profit,
no
different than flipping stocks.

Wow, did you figure that out all by yourself? FYI, it's not just
some speculators that are there to turn a quick profit. It's ALL
SPECULATORS. And it's a very good thing.

Neither you nor I know what percentage of
the daily oil trades are done by people like that.

Actually, you don't but I do. And anyone that cares to find out
can. All they need to do is look at the CFTC committment of traders
report, where all players who hold positions of any significant size
in all the exchange traded futures have to report it to the CFTC.




However, there is some noise being made about the problem by some
governments, because what I taught you was absolutely true.

http://www.iht.com/articles/2007/11/...ss/08nymex.php

Yeah, noise is a good term. But then you use that, where some
politician in Indai is bitching as a reference?. They know so much
about economics and how to run a country, look where it got them.
And if we listened to you, that's where the US would soon be too.
Here's some real gems from your article:

"Analysts say the market has gone from a small group of oil users and
producers to a full-fledged investment arena in recent years, like
stocks or bonds. Prices can move according to intangible factors like
fear, just as they do in the equity markets, the analysts say. "

Wow, did they figure that out all by themselves? You mean if there
is fear of a hurricane or a war affecting supplies of oil, it can
actually change the price? What a break through in economics!

+++++++++++++++++++++++++++++++++++++


Hey Einstein....it's WRONG when you hear this on the news:

"Oil jumped $2.00 a barrel today on concerns about renewed violence in
Baghdad".

I heard that two years ago, while listening with my son, who was 16 at the
time. His comment: "Baghdad's *always* violent, and Iraq produces pretty
much zero oil. What a stupid reason for the price to go up".

He was right. Some of the price swings are due to the fears of emotional
investors who are no better at understanding the oil markets than the oil
companies themselves. Anyone who's not an employee of an oil-related company
should be barred from meddling.