Why on Earth does this panel not include Dr. Robert Hirsch and Matthew Simmons. This panel is absolutely unqualified to comment on daily production capacity and that is the one and only thing that is responsible for the arrival of the prices we experienced in 2008.
At 8 am OPEC annouces a price increase on a barrel of oil. At 8:15 am an employee of a US gas station climbs his ladder & increase the price at the pump--even though it will take 8weeks in the future for the gasoline to be transported from the Middle East to the US, be refined and then be redistributed to their network of service stations. This is a total rip-off of the American Consumers by the Big Oils.
But if a barrel was to go down it would take 2months to see a decrease at the pump!! FACT
though Mrs. Jaffe's answers were a little a vague in terms of how to find out what "kind" of speculation is going on but in her defense, Rep. Larson was EXTREMELY rude in constantly interrupting her which explains why she was so vague. Basically, it seemed Larson didn't want to understand how the futures market works. He just wanted 5 simple opinions on what to do and that's where his fault lies. Not enough people do their own research and they simply trust "experts" to tell them how to think.
Did you not understand the whole point in this video? It's not "Big oil". (I hate the term anyway cause it represents the emotional witch hunt this whole issue has become) It's investors(and not investors such as drillers, refineries, or gas stations) It's people who buy the oil and when they're supposed to receive their barrels of oil, they turn around and sell it to someone else who wants in on the market when they feel it's going to go up so all along they never touched an ounce of oil.
Finally-you see all the excuses -Enron had excuses also but they were playing with dirty cards, and so are these guys, and so is Bush, and so is Cheney. It is time to stop these oilmen, bankers, and stockbrokers, who are sucking all the energy out of our economy and putting that energy into their bloated pockets!
AGAIN, has nothing to do with "oilmen". The speculators never touch an ounce of oil themselves. It has nothing to do with bankers or even stockbrokers unless they're speculating in oil commodities which anyone can do practically. At 5% margin, and gas at about $120 a barrel, it should be about 600 bucks per hundred barrels. I bet you have that much in the bank. Simply pay a fee under 50 bucks to get into the market(though I believe there are other requirements) and you too can be a speculator.
and THAT'S the problem; that anyone can invest in the market without having any part in the oil process which(at mass levels) manipulates the natural price of gas and even crude oil. If you can get rid of speculators, true supply and demand can happen through the companies involved in the oil process. Side note: Oil companies don't set thier prices, they put them on the NYMEX (or ICE in Europe) and the price is influenced there by how many people buy and sell the commodity.
Dude, way to stick it to them Larson!! I think the biggest point made was the last comment - we need to get off of oil. And there are several fully functioning alternantives out there now. Bio fuels, compressed air engines, nuclear, wind, geo-thermal power, etc... There are lots of useable options out there now. Stop talking, and start using them.
Energy independence starts with the people. we call all do something today to get away from the grid.
I just want to point out on the alternative fuels stuff.
Nuclear- NEVER going to be used for transportation BUT we do need to build more nuclear plants. We let the whole 3 Mile Island incident stop us from building more. Actually, there hasn't been another plant built since 1979.
Wind- As for now, and likely in the future, it will simply continue to be a supplement to more powerful energy sources.
I'm simply confused by "away from the grid." You're still using a "grid" with alternative fuels.
it is true that I am not entirely off the grid. But my friend Mike, who lives is a urban location, is off the grid. He does not have an energy company providing him with service at all. He has a small wind turbine on his roof, a few solar panels, and an extreemly energy efficient home. Also a homemade cooling system using well water, and a heating unit that he burns bio-diesel in, which he makes himself.
All I was saying was if more people took thier energy needs into their on hands...
Wow. That's impressive but sounds extremely expensive, even impractical(I may be wrong). How does he get well water if he's living in a city? and I'm curious to know how you make bio-diesel fuel? He also must be quite knowledgeable of electronics?
I have a well and I live in the city. Are there cities that dont allow you to have a well?
Expensive, yes. He built his own wind turbine, but of course the solar panels are expensive, though alot was rebated by the gov.
As far as bio diesel goes it is very easy to make. I make it as well. It is made from used veggie oil I pick up from a local resturant. It costs me about 90 cents per gallon to make. Anyone can do it, and my truck runs better then on petro diesel. With zero carbon emission
But my whole statement isnt as much about what poeple can do as much as attitude. People need to be more self reliant. It would benefit them in every area of their lives. And our country would be better off as well. Every little bit helps.
I'll admit it right now. I'm a self proclaimed moderate libertarian so the overall attitude of self reliance is everything I stand for, for the most part, so I completely agree with you. I feel anytime we need the government to help us, we not only lose our self-reliance but our freedoms.
I assumed that every city uses city water, most likely from a nearby water source such as a river.
I'll have to look into the whole making my own bio diesel thing. At 90 cents per gallon, it sounds like a deal if it's easy to make. In terms of carbon emissions, I think man-made Global Warming is a hoax and a scientific theory at best so I'm not too worried about carbon emissions though maybe a tad concerned about pollution itself but that debate is for another time. haha.
I think we see eye to eye on the Global Warming issue, and as far as my political views, I would also describe myself as a moderate libertarian.
As far as Biodiesel goes, it can be as simple or as complicated as you would like to make it. in fact, you could make it in a pop bottle from ingredients you likely have in you home right now.
google -Biodiesel and WVO forum
this is the forum I usually use. Tons of info.
btw, I may be moving to KC, MO next month. Is that where the KC comes from?
Why on Earth does this panel not include Dr. Robert Hirsch and Matthew Simmons. This panel is absolutely unqualified to comment on daily production capacity and that is the one and only thing that is responsible for the arrival of the prices we experienced in 2008.
1776independent 1 year ago
At 8 am OPEC annouces a price increase on a barrel of oil. At 8:15 am an employee of a US gas station climbs his ladder & increase the price at the pump--even though it will take 8weeks in the future for the gasoline to be transported from the Middle East to the US, be refined and then be redistributed to their network of service stations. This is a total rip-off of the American Consumers by the Big Oils.
But if a barrel was to go down it would take 2months to see a decrease at the pump!! FACT
librophile 3 years ago
though Mrs. Jaffe's answers were a little a vague in terms of how to find out what "kind" of speculation is going on but in her defense, Rep. Larson was EXTREMELY rude in constantly interrupting her which explains why she was so vague. Basically, it seemed Larson didn't want to understand how the futures market works. He just wanted 5 simple opinions on what to do and that's where his fault lies. Not enough people do their own research and they simply trust "experts" to tell them how to think.
KCpunker 3 years ago
Considering how much money the government makes on each gallon of fuel we buy through taxes, they are complicit with BIG OIL in screwing everybody.
liveleaker 3 years ago
Did you not understand the whole point in this video? It's not "Big oil". (I hate the term anyway cause it represents the emotional witch hunt this whole issue has become) It's investors(and not investors such as drillers, refineries, or gas stations) It's people who buy the oil and when they're supposed to receive their barrels of oil, they turn around and sell it to someone else who wants in on the market when they feel it's going to go up so all along they never touched an ounce of oil.
KCpunker 3 years ago
Finally-you see all the excuses -Enron had excuses also but they were playing with dirty cards, and so are these guys, and so is Bush, and so is Cheney. It is time to stop these oilmen, bankers, and stockbrokers, who are sucking all the energy out of our economy and putting that energy into their bloated pockets!
kjack5 3 years ago
AGAIN, has nothing to do with "oilmen". The speculators never touch an ounce of oil themselves. It has nothing to do with bankers or even stockbrokers unless they're speculating in oil commodities which anyone can do practically. At 5% margin, and gas at about $120 a barrel, it should be about 600 bucks per hundred barrels. I bet you have that much in the bank. Simply pay a fee under 50 bucks to get into the market(though I believe there are other requirements) and you too can be a speculator.
KCpunker 3 years ago
and THAT'S the problem; that anyone can invest in the market without having any part in the oil process which(at mass levels) manipulates the natural price of gas and even crude oil. If you can get rid of speculators, true supply and demand can happen through the companies involved in the oil process. Side note: Oil companies don't set thier prices, they put them on the NYMEX (or ICE in Europe) and the price is influenced there by how many people buy and sell the commodity.
KCpunker 3 years ago
The stock market has many flaws and this speculation is one of those flaws!
kjack5 3 years ago
Dude, way to stick it to them Larson!! I think the biggest point made was the last comment - we need to get off of oil. And there are several fully functioning alternantives out there now. Bio fuels, compressed air engines, nuclear, wind, geo-thermal power, etc... There are lots of useable options out there now. Stop talking, and start using them.
Energy independence starts with the people. we call all do something today to get away from the grid.
Join the Revolution!!!
lives2live 3 years ago
I just want to point out on the alternative fuels stuff.
Nuclear- NEVER going to be used for transportation BUT we do need to build more nuclear plants. We let the whole 3 Mile Island incident stop us from building more. Actually, there hasn't been another plant built since 1979.
Wind- As for now, and likely in the future, it will simply continue to be a supplement to more powerful energy sources.
I'm simply confused by "away from the grid." You're still using a "grid" with alternative fuels.
KCpunker 3 years ago
it is true that I am not entirely off the grid. But my friend Mike, who lives is a urban location, is off the grid. He does not have an energy company providing him with service at all. He has a small wind turbine on his roof, a few solar panels, and an extreemly energy efficient home. Also a homemade cooling system using well water, and a heating unit that he burns bio-diesel in, which he makes himself.
All I was saying was if more people took thier energy needs into their on hands...
lives2live 3 years ago
Wow. That's impressive but sounds extremely expensive, even impractical(I may be wrong). How does he get well water if he's living in a city? and I'm curious to know how you make bio-diesel fuel? He also must be quite knowledgeable of electronics?
KCpunker 3 years ago
I have a well and I live in the city. Are there cities that dont allow you to have a well?
Expensive, yes. He built his own wind turbine, but of course the solar panels are expensive, though alot was rebated by the gov.
As far as bio diesel goes it is very easy to make. I make it as well. It is made from used veggie oil I pick up from a local resturant. It costs me about 90 cents per gallon to make. Anyone can do it, and my truck runs better then on petro diesel. With zero carbon emission
lives2live 3 years ago
But my whole statement isnt as much about what poeple can do as much as attitude. People need to be more self reliant. It would benefit them in every area of their lives. And our country would be better off as well. Every little bit helps.
lives2live 3 years ago
I'll admit it right now. I'm a self proclaimed moderate libertarian so the overall attitude of self reliance is everything I stand for, for the most part, so I completely agree with you. I feel anytime we need the government to help us, we not only lose our self-reliance but our freedoms.
KCpunker 3 years ago
I assumed that every city uses city water, most likely from a nearby water source such as a river.
I'll have to look into the whole making my own bio diesel thing. At 90 cents per gallon, it sounds like a deal if it's easy to make. In terms of carbon emissions, I think man-made Global Warming is a hoax and a scientific theory at best so I'm not too worried about carbon emissions though maybe a tad concerned about pollution itself but that debate is for another time. haha.
KCpunker 3 years ago
I think we see eye to eye on the Global Warming issue, and as far as my political views, I would also describe myself as a moderate libertarian.
As far as Biodiesel goes, it can be as simple or as complicated as you would like to make it. in fact, you could make it in a pop bottle from ingredients you likely have in you home right now.
google -Biodiesel and WVO forum
this is the forum I usually use. Tons of info.
btw, I may be moving to KC, MO next month. Is that where the KC comes from?
lives2live 3 years ago