Turn money into gold and gold into money at Gold Trading Academy. If you have spendable money, come trade gold! Come visit my website Gold Trading Academy.
90% accuracy trading is now a reality. If you want to get rich invest in gold! Come visit my website, just google Gold Trading Academy to learn more.
Turn money into gold and gold into money at Gold Trading Academy. If you have spendable money, come trade gold! Come visit my website Gold Trading Academy.
Does this dickhead not realize that the US is holding out so that all the others use THEIR resources up FIRST! Then we can use ours - when the rest of the world is in a crisis.
I should have watched the whole thing before I posted my comment. :P
He's right that it's a supply and demand problem - but he's nuts if he thinks offshore drilling is going to bring billions of barrels online. Or that there is any evidence that ANY combination of current alternatives can continue running the economy the way we have been.
Look at the price of all commodities they are all way up because the fed won't stop the printing presses. Its the dollar that is the largest problem. Speculators are just along for the ride. You guys didn't complain about speculators during the tech bubble or the housing bubble. Speculators are a symptom not the problem.
offshore drilling is just another whiny, near sighted american idea.....im tired of watching us do this to ourselves, the past 7-8 years have been americans whining about what needs to happen, then choosing the first solution they can fathom, then whining some more when that solution doesnt work out, and creates it's own new problems....
maybe you guys should start listening to liberals. We havent been wrong nearly as much as everyone else, and we're often warning you...but you dont listen.
This guy is a bit off for just dismissing speculation outright in comparison with China. In the past 5 years, China's demand has increased just as much as speculation has (China: 920 million barrels, Speculation: 848 million barrels).
Search for "Oil Speculation" on Wikipedia for a great article.
or
Search for "Oil Manipulation" on C-SPAN's website to find the Senate Commerce Committee hearing on Energy Market Manipulation (June 3, 2008). It's a 2 hour video, but it's pretty revealing.
He was so dead wrong on Bear Stearns I don't know if I trust Jim. His defense of speculation isn't very strong and his downplay of the Iraq war on oil prices is sketchy.
THIS IS NOT SIMPLY A SUPPLY AND DEMAND ISSUE. As much as a dollar per gallon of the cost is due to unchecked speculators. Also, the plummeting value of the dollar, which isn't helped by our 11 TRILLION dollar debt, doesn't help. I promise you- let Exxon rape Alaska, you will not see any decline at all in terms of price. You'll just make Bush/Cheney's rich pals that much richer.
The reason food is so high is because of gas prices not ethanol, and the only reason oil is so high is because the oil company have a very high speculated price tag on top of the 60 - 70 dollars it should cost per B. Fuck this fucking clown.
"When a well-packaged web of lies has been sold gradually to the masses over generations, the truth will seem utterly preposterous and its speaker a raving lunatic."
WHAT???? when the oil price fly 16 dollars in one HOUR that's not supply and demand it's wayyyyyyyyyyyy of that it's pure speculations.
and in order for us (saudi arabia) to pump these 200.000 barrels, do you even know how much that well cost??? 16 billion dollar investment. at least when china takes the oil the produce goods and services, not just to keep their life style or use it in a war.
Of course the oil price is that high because of speculation and US government buying oil for strategic reserve in preparation for Iran war (and Iraq war that started this all).
Claiming that China suddenly started using that much oil in a few months is a total idiocy. Cramer doesn't even know about the US oil reserve... he claims that every barrel of oil is used.
90% accuracy trading is now a reality. If you want to get rich invest in gold! Come visit my website, just google Gold Trading Academy to learn more.
THERollyboy123 4 months ago
This has been flagged as spam show
Turn money into gold and gold into money at Gold Trading Academy. If you have spendable money, come trade gold! Come visit my website Gold Trading Academy.
THERollyboy123able 4 months ago
This has been flagged as spam show
90% accuracy trading is now a reality. If you want to get rich invest in gold! Come visit my website, just google Gold Trading Academy to learn more.
123THERollyboy 4 months ago
This has been flagged as spam show
Turn money into gold and gold into money at Gold Trading Academy. If you have spendable money, come trade gold! Come visit my website Gold Trading Academy.
MrBanker2222 5 months ago
u guys are idiots, gas will be back to 4+ by next summer.
xrangerx 3 years ago
HOMEBOY WAS WRONG . GAS WENT DOWN .
dcc914 3 years ago
Does this dickhead not realize that the US is holding out so that all the others use THEIR resources up FIRST! Then we can use ours - when the rest of the world is in a crisis.
rarelibra 3 years ago
cramer is a clown who i wish to punch.
rosewood223 3 years ago
he is lying. Demand is only a small component. it is the devaluation of the dollar.
he is trying to hide the truth, he is manipulated by the media elites.
rosewood223 3 years ago
I should have watched the whole thing before I posted my comment. :P
He's right that it's a supply and demand problem - but he's nuts if he thinks offshore drilling is going to bring billions of barrels online. Or that there is any evidence that ANY combination of current alternatives can continue running the economy the way we have been.
FelizJesusbirth 3 years ago
Sounds to me like Cramer has at least a rudimentary understanding of peak oil.
FelizJesusbirth 3 years ago
So a former hedgefund manager,Cramer, says speculation has nothing to do with increased oil prices! Interesting!
It's all supply and demand, yeah Cramer that's why there are gas lines and rationing and stations running out of fuel,right?
wervasdeferens 3 years ago
Look at the price of all commodities they are all way up because the fed won't stop the printing presses. Its the dollar that is the largest problem. Speculators are just along for the ride. You guys didn't complain about speculators during the tech bubble or the housing bubble. Speculators are a symptom not the problem.
Sclorched 3 years ago
The problem is Conservatives and deregulation.
Take the Gov't watchdogs out of the picture and you'll get the feeding frenzy we are now experiencing.
Sclorched, why don't you Cons ever complain about the wasteful spending in the DOD budget,it's a helluva lot more than SS.
wervasdeferens 3 years ago
I understand where you are coming from, I'm not actually a conservative, I'm a Ron Paul fan. Both parties are totally useless and have fucked us over
Sclorched 3 years ago
I couldn't agree more!
wervasdeferens 3 years ago
offshore drilling is just another whiny, near sighted american idea.....im tired of watching us do this to ourselves, the past 7-8 years have been americans whining about what needs to happen, then choosing the first solution they can fathom, then whining some more when that solution doesnt work out, and creates it's own new problems....
maybe you guys should start listening to liberals. We havent been wrong nearly as much as everyone else, and we're often warning you...but you dont listen.
zndprophet 3 years ago
Oh yeah just look how good you liberals have done with 50 trillion of social security debt...
Sclorched 3 years ago
speculators are making a buck or two difference?what a lying prick.
punic1 3 years ago
Wow ... where did they find this guy?!
Mernie9 3 years ago
This is complete b.s. Republican shill
jeffreymcneill 3 years ago
This guy is a bit off for just dismissing speculation outright in comparison with China. In the past 5 years, China's demand has increased just as much as speculation has (China: 920 million barrels, Speculation: 848 million barrels).
Search for "Oil Speculation" on Wikipedia for a great article.
or
Search for "Oil Manipulation" on C-SPAN's website to find the Senate Commerce Committee hearing on Energy Market Manipulation (June 3, 2008). It's a 2 hour video, but it's pretty revealing.
feylure 3 years ago
Obama does disappoint with his embrace of the ethanol lobby. Also kissing ass to AIPAC.
prisonerofalliance 3 years ago
My hands are a little bit too prune-y to play banjo right now.
BoxCubeSquare 3 years ago
Sorry but this guy is a bit off.
SPECULATION...period....is at the heart of the matter.
The Enron loopholes are allowing unfair manipulation of the market.
The US uses more oil than China and India combined.
USA: 20.75 million bbl/day
China: 6.5 million
India: 2.5 million
UK: 1.8 million
Germany: 2.6 million
Japan: 5.6 million
klugyboy 3 years ago 3
He was so dead wrong on Bear Stearns I don't know if I trust Jim. His defense of speculation isn't very strong and his downplay of the Iraq war on oil prices is sketchy.
moejardines 3 years ago 2
Way wrong. Even analysts from BS knew that the end was coming, and the Fed haven't done a damn thing of preventing it.
BKDevious 3 years ago
THIS IS NOT SIMPLY A SUPPLY AND DEMAND ISSUE. As much as a dollar per gallon of the cost is due to unchecked speculators. Also, the plummeting value of the dollar, which isn't helped by our 11 TRILLION dollar debt, doesn't help. I promise you- let Exxon rape Alaska, you will not see any decline at all in terms of price. You'll just make Bush/Cheney's rich pals that much richer.
asdffd 3 years ago 3
Jim Cramer is full of SHIT!!!
The reason food is so high is because of gas prices not ethanol, and the only reason oil is so high is because the oil company have a very high speculated price tag on top of the 60 - 70 dollars it should cost per B. Fuck this fucking clown.
gallomex13 3 years ago 3
"When a well-packaged web of lies has been sold gradually to the masses over generations, the truth will seem utterly preposterous and its speaker a raving lunatic."
GOneScUBa 3 years ago
Cramer's so obnoxious, even for a pompous political parrot
crusa187 3 years ago
WOW!
coke much?
laroixhaos 3 years ago
Wind power TFW!!!!!!!!!
papichulo9022 3 years ago
WHAT???? when the oil price fly 16 dollars in one HOUR that's not supply and demand it's wayyyyyyyyyyyy of that it's pure speculations.
and in order for us (saudi arabia) to pump these 200.000 barrels, do you even know how much that well cost??? 16 billion dollar investment. at least when china takes the oil the produce goods and services, not just to keep their life style or use it in a war.
salo78a 3 years ago 3
I'd listen to this guy if he wasn't wrong so often.
rustEshakelford 3 years ago 2
hmm hard to guess how many Exxon shares he has isn't?
doobtribe 3 years ago
Jim Cramer screwed a lot of people with his stock advise on Bear Stearns, anyone who trusts this conman must be out of his mind.
Cable news is more about entertainment than insight.
raaf123 3 years ago 7
What about all of the oil that the oil companies are just sitting on??
They aren't using all of the leases that they already have. Why should we give them more?
Toddo31 3 years ago 2
Cramer is a total moron. He has no clue.
Of course the oil price is that high because of speculation and US government buying oil for strategic reserve in preparation for Iran war (and Iraq war that started this all).
Claiming that China suddenly started using that much oil in a few months is a total idiocy. Cramer doesn't even know about the US oil reserve... he claims that every barrel of oil is used.
What an idiot.
FormerlyKnownAsNopez 3 years ago 7
It's the value of the dollar stupid!
healuv 3 years ago
what the heck is he talking about, the US would DIE without oil
noracism11 3 years ago