Oil Executives in Front of Congress

[brianpaul9]

Here's a guy with a 4th grade education talking about things he knows nothing about. You talk about how eggs, milk and corn has gone up in price, but did you realize that this increase in price is due to an increase in gasoline prices? It cost more money to grow corn (tractors run on gas). It costs more money to transport eggs (gas is used to transport the eggs to stores). I'm not mocking you, johebii, I just feel sorry for someone with such a lack of brain power and a limited education.

[johnebii]

brian i will engage you with civility even though you have not begun with the same courtesy to me. have you ever considered that

demand for more eggs, milk etc, may have led to MORE of them being transported causing in increase in demand for gasoline and a subsequent rise in it's price for all consumers? Also, what of the price of gold and metals? How do you account for their rise? Is it the price of gas that is driving that price up as well? No. If you look at commodities in general ...

[johnebii]

rather than looking at 1 specific commodity, u will see that the price of almost ALL commodities has gone up including metals, wood, the food commodities...everything... b/c of the demand created by the booming economies of China and India and the distrust of cash assets that we see right now in the markets. The point of this video is that Congress is pandering by only concentrating on OIL when this is a much broader phenomenon that can easily be seen by anybody that cares 2 take a closer look.

[johnebii]

plspeoplethink, you are bringing some good info here, but due to the length of the stats it might be better to post this as a video response, i'd certainly be open to checking out some stuff from you.

[PlsPeopleThink]

Johnebii: I'm not sure what you mean by due to the level of stats? I would post as a vid response but unfortunately I don't have a camera. I'd be glad for you to post a vid response if I send u some stats/rsch..

[johnebii]

i said due to the 'length' of the stats. i'm looking at the comments and i see at least 6 comments that u've left that appear 2 have maxed out the character limit on each one. i like the info u r bringing and i think it is useful and it seems we agree on a lot of things, i'm just trying to use a polite way to say let's don't turn the comments section into your personal blog :) I'd be glad to take some research and stats from u and comment as long as the amount of info is not overwhelming.

[cowboycarl04]

thank you for saying this... I have friends in the oil business, they get it... all they do is pay whatever the price is... like what we do when we buy gold and silver...

i mean what do people expect... what really sickens me is that the same people complaining about high gas up in Congress say we can't drill anymore... it's absurd...

I wrote my senators about this (thankfully they are more for drilling than perhaps anyone)... i fear a far left Congress...

[PlsPeopleThink]

A dollar can be fractional, a portion of a whole, usually the dollar is referred to as fractional when someone is reporting the exchange rate of the dollar.

The money used to help out Bear Stearns was not surplus pumped into the economy, JPMorgan signed a merger agreement which puts them at risk should something happen to Bear. What the Fed did was issue a non-recourse loan which means its secured. I doubt the fed would do that if they thought JP wouldn't have the ability to pay it back.

[johnebii]

you make a lot of good points but i think you are off target concerning the fed. it is NOT provided for in the constitution and if Bear Stearns defaults on the loan, JP Morgan doesn't have to pay the fed back. where do you think that money will come from? printed out of thin air. thanks for the comments.

[readywerx]

The demand for oil always increases becuase our economy must always be growing to sustain.( also, the number of people is always increasing ) You must also understand the Fed Reserve has pumped a lot of surplus dollar into the economy causing inflation. *example*Many of these dollars hit created to "help out" private sector banks recently , because of the Housing Crash.Crash was created by fractionalizing the dollar via the Fed. The Fed is a private bank that controls the money. UNCONSTITUTIONAL

[johnebii]

you won't get any argument from me on any of that.

[hulkluvswonderwoman]

Can this guy be anymore of an idiot...lol

[johnebii]

i guess you think your representatives and senators are lovely benevolent people that would fix the world for you if the evil businessmen would just do what they say and we would pay a little less atttention to the cumbersome constraints of the constitution.