Letters such as Jason Kufs' “It's Gas Prices, Stupid!” only prove one thing -- how little Conservatives understand about the current oil crisis and the economy. Not that that should surprise anyone.
This is, after all, the party of George W. Bush.
Or perhaps, I should say that Conservatives want you to think that they believe that the sky-high cost of oil is all the fault of the Democrats, and that the big solution is MORE DRILLING!
Which is why the push is on to open up restricted areas to more drilling. Common sense would seem to dictate that this would help bring the prices down, and make the USA more oil-independent, right? Wrong.
The real cause is what's known as “The ENRON Loophole.” In 2000, former Texas oilman and Bush-buddy, ENRON chairman Ken Lay - an indicted criminal on 11 counts of securities and wire fraud before his death - persuaded Congress and federal regulators that the electronic trading markets would be more “efficient” if those transactions and trades were deregulated - essentially, performed without supervision or oversight by U.S. regulators. These unregulated markets are called “Dark Markets,” where investors such as hedge funds and investment bankers can use loopholes in Commodities Law to manipulate the markets without accountability.
It is these futures speculators in the trading pits of NYMEX who are able to manipulate the prices of oil for pure profit - with virtually no transparency.
Additionally, because investment banks employ these speculators, by driving the price of oil to sky-high prices, investment banks can recoup huge losses for things like housing mortgage scandal losses?
Of course, all raw materials - corn, wheat, copper, etc. are all commodities, so by driving these prices up along with oil, the revenues increase exponentially.
Once again, ordinary citizens are bailing out the crooks by paying exorbitant prices. Of course, the frenzied calls for more drilling are just typical diversionary tangents, designed to give the oil companies and their investors exactly what they most want a guarantee that the U.S. will remain hooked on oil for generations to come.
Karl Logan
Auburn
Or perhaps, I should say that Conservatives want you to think that they believe that the sky-high cost of oil is all the fault of the Democrats, and that the big solution is MORE DRILLING!
Which is why the push is on to open up restricted areas to more drilling. Common sense would seem to dictate that this would help bring the prices down, and make the USA more oil-independent, right? Wrong.
The real cause is what's known as “The ENRON Loophole.” In 2000, former Texas oilman and Bush-buddy, ENRON chairman Ken Lay - an indicted criminal on 11 counts of securities and wire fraud before his death - persuaded Congress and federal regulators that the electronic trading markets would be more “efficient” if those transactions and trades were deregulated - essentially, performed without supervision or oversight by U.S. regulators. These unregulated markets are called “Dark Markets,” where investors such as hedge funds and investment bankers can use loopholes in Commodities Law to manipulate the markets without accountability.
It is these futures speculators in the trading pits of NYMEX who are able to manipulate the prices of oil for pure profit - with virtually no transparency.
Additionally, because investment banks employ these speculators, by driving the price of oil to sky-high prices, investment banks can recoup huge losses for things like housing mortgage scandal losses?
Of course, all raw materials - corn, wheat, copper, etc. are all commodities, so by driving these prices up along with oil, the revenues increase exponentially.
Once again, ordinary citizens are bailing out the crooks by paying exorbitant prices. Of course, the frenzied calls for more drilling are just typical diversionary tangents, designed to give the oil companies and their investors exactly what they most want a guarantee that the U.S. will remain hooked on oil for generations to come.
Karl Logan
Auburn
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Post your comment - click hereThere are 11 comment(s)
iowa wrote on Jun 23, 2008 11:42 AM:
karl wrote on Jun 23, 2008 8:16 AM:
Unknown... wrote on Jun 23, 2008 7:50 AM:
karl wrote on Jun 23, 2008 12:12 AM:
Go ahead, Einstein, we're listening. "
AJ wrote on Jun 22, 2008 11:19 PM:
demsarecrazy wrote on Jun 22, 2008 7:41 PM:
movedsouth wrote on Jun 22, 2008 2:30 PM:
brew1234 wrote on Jun 22, 2008 12:49 PM:
karl wrote on Jun 22, 2008 11:24 AM:
My purpose and intention in this letter was to dispel the diversionary hype and blame from the likes of Kufs, which is only further seeking to politicize the issue, and does NOTHING to truly inform the public about the REAL problem!
The public should not be duped into believing that, by simply opening up the ANWAR and offshore drilling sites, that it's going to change one damned thing. All that would do is justify the endless usage of, and pandering to, the Big Oil companies.
Why are companies still posting losses? I don't pretend to know--deception? Gee, could they really be less-than-honest? WOuld it really surprise anyone?
Besides, at the same time, why then is Big Oil posting record profits consistently for months and months? I'm not saying that the Oil companies are NOT also just lining their pockets and profiteering as much as they can in the waning days here of the Bush regime, but there's only so much you can fit into one letter, so I had to choose what point I wanted to make.
You got a better theory? I'm all ears if you do. Just please don't spout any of that "Drill NOW!" crap! "
cm wrote on Jun 22, 2008 10:17 AM:
When looking at the MAP section for the ban area that everyone wants lifted-I can see and agree some of it needs to be lifted-
ONLY IF there are better laws in place, demanding that MOST of the oil drilled there STAYS in the USA
NOT NOT NOT sold to other countries!!
Drilling still will not aid us until 2012, BUT WE need to get petitions out/write letters to our leaders demanding LAWS out into place NOW, or drilling will not help us in 2012 EITHER!
be sure to read thru most of the solutions & alternatives sections.
The map section/commentary was funny.
Under the Gas Prices & You the EXplainer section is a good aid to understanding how it works.
http://www.cnn.com/SPECIALS/2008/fueling.america/index.html "
demsarecrazy wrote on Jun 22, 2008 9:51 AM:
Clearly you are like any other dem that picks apart a problem and offers no solution. Every person in the US can hedge higher costs of fuel by simply buying an oil company's shares. If your statement about oil profits offsetting the losses from mortgage losses were true then why in the last week did Lehman Brothers post a $2.8 billion loss even though oil prices stayed at or near record prices? The democrats have controlled both Congress and the Senate for nearly 2 years yet I haven't seen a comprehensive plan to solve the nation's energy problems. "