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Old 21-04-2011, 05:47 AM   #225
dave
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Join Date: Dec 2005
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Quote:
Originally Posted by da bahstid View Post
Now hopefully we can't get to that point, but I see no reason to test that speculation out. I don't get why Republicans in general are so deadset on protecting the interests of big oil at the expense of literally everything else, including the economy.
Could you do me a tiny favor? Could you actually read the past discussion we have had here, and take a beginning Economics class which has an emphasis on "Futures Trading."

Pretty Please?

The first thing you might learn (assuming that you ...) is that neither the Republicans nor the Democrats have anything to do with the ability to trade on the "Commodity Futures Market" and thusly to set the future price of oil. It has nothing to do with what is happening in the world right now. The price of oil 30 days from now is set by people buying a 30 day "future" in oil and expecting a positive return.

Quote:
Originally Posted by An Explanation Of Oil Futures
The majority of crude oil is sold in the form of contracts offered on commodities exchanges. These contracts, called "futures," guarantee the holder delivery of a set amount of crude oil on a certain date at a predetermined location.

Features
Futures contracts are listed on exchanges by oil producers or brokers who are contracted to receive the oil from them. These contracts are then bought and sold by investors, with the price of each contract changing constantly depending on the relative demand of each investor.

Read more: An Explanation of Oil Futures | eHow.com http://www.ehow.com/facts_7157148_ex...#ixzz1K8JlbH8X
Funny thing is, at the end of the 30 days somebody has to use that contract and buy the oil. So the price is actually set by investors trying to buy that 30 day contract. Some of them actually pay attention to what is going on, but the majority of those investors are computers managing huge retirement funds and they don't care what the price is as long as they get a tiny profit in the 30 days. So, "Global Warming/Climate Change" is not your issue. If you want to talk about your issue, start a new topic and see if anyone cares. If you want to talk about "Global Warming/Climate Change" read what we've already discussed and add something new to the discussion. Play Fair, or Go Home.

Quote:
Originally Posted by da bahstid View Post
And this is exactly the stupidity of Republican desperation to protect big oil by claiming global warming is myth. Increasing demand for oil worldwide driving energy prices up is one of the two most Important factors limiting america's current economic growth.
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