But I thought “the Media” wasn’t covering the story. 

How are those 100′s of billions we poured into “green” jobs working out?
Hey, the Democrats’ energy policy is almost as good as their dealings with Syria and Iran!

The GOP should use that old anti-Goldwater ad, only putting Tel Aviv in the background.
btw, How’s that Jewish support doing, Barry?
Did Lew convince anyone that their WON’T be a mushroom cloud over Israel?

they weren’t until it was in their face and unavoidable. think.

 I mus6t have missed the question on gas prices at the debate.

Just Google coverage of Bush when prices went up a fraction of this! – You’ll see your typical Democratic-advocacy media at work.
Bash Bush; SILENCE linking Obama to the higher prices.

I didn’t see this specific report and so I think they are still refusing to cover the issue.

Obama is sitting around trying to come up with excuses instead of taking action to help because he wants the votes from his base. In the meantime, this affects all parts of the economy and every person in the country.

This is just a little war tax that the democrats were demanding of Bush with his two wars. This time it’s a ‘forecast war prediction’ tax paid in advance. And this time the war courtesy of Israel who’s itching to strike Iran.

& media is exercising censorship again and neglecting to mention that little fact

And yet CNN’s John King couldn’t be bothered to ask how the candidates would respond to the gas price crisis compared to Obama, because there’s no way to ask it without making Obama look bad.

The laws of supply and demand will catch up with the speculators soon enough. Prices will start to drop in few weeks. People stop driving at $4.00. There is no gas shortage.

Last that I heard was that president Obama was suggesting further reductions to the payroll tax to help people pay for the rise in gas…  This to me is insanity, we have already seen that raising those taxes back to a level that will sustain the integrity of Social Security and Medicare will be difficult as who is going to want to raise taxes on the 99%.

The problem is is that as soon as the president passed those cuts the first time the programs they support (SSI and Medicare) went into the red 10 years ahead of schedule, and he is now keeping them in the red…  Now he is suggesting even further cuts to the program that is arguably one of the largest entitlement crises that the government will have to face and now we have the president exasperating the problem by taking away a large portion of its funding while refusing to address the structural defects that will bankrupt the program…  

This is Washington Econ 101..  just push problems off onto the future administrations or congresses..  well the problem with that is is that we have arrived at that moment that the crisis is becoming real and the president and congress refuse to deal with them, they still think that they can pass them off, they can’t not if they have any real expectations of solving these problems as failing to address them now will only make the problems so large that they will not be able to be solved in the future.

Commodities speculating is great business, due to its *self-fulfilling nature. 

* = special thanks to the obedient national news lap dogs for their unconditional subservience

 again, the only thing Obama can do is repeal the Graham act.  It won’t happen because you would cry “Big Bad Government! Socialism!.”  The problem is commodity traders and speculators. 

Somebody please read this.  I will spam this link to anyone thinking the price of gas has anything other to do with this.

http://money.howstuffworks.com/oil-speculation-raise-gas-price.htm

 http://money.howstuffworks.com/oil-speculation-raise-gas-price.htm

 http://money.howstuffworks.com/oil-speculation-raise-gas-price.htm

 http://money.howstuffworks.com/oil-speculation-raise-gas-price.htm

 It will. The only problem with this bubble is it will have the same effect as the bubble that burst in 2008.

©l@ssm@tê’s &#173môthêr-in-l@w m@dê $16110 p@st wêêk. shê is m@king mônêy ôn thê intêrnêt @nd môvêd in @ $329300 ©ôndô. A&#173ll s&#173hê did w@s gêt fôrtün@tê @nd püt intô üsê thê @dvi©ê rêpôrtêd ôn th&#173is w&#173êß p@gê …. &#173Laz&#173yCash10.c&#173om

And???? Speculators are a fact of life, do you have any suggestions for us?

The government should be working on energy solutions to bridge us to the long awaited green economy that is just not ready for prime time. Instead they have regulated and invested in a manner to try and push us into the green economy while frustrating our ability to meet our energy demands of today.  

Policies that would stimulate recovery of available resources would discourage speculators to bet against stable energy prices.. Speculators speculate, that is what they do, just as you would point to them for being the problem by investing vast sums of money into markets distorting the price of those markets, they stand to loss great sums of money should they get it wrong, bottom line is that the conditions of the markets, along with governmental and fiscal policies have great influence on speculative markets….  if the government gets it policies right in the market place the speculators will find the risk to high to continue to bet on the higher future prices of fuel…

George Bush does it again.

Speculators were not allowed to set these prices before 2000. That was due to the Gramm–Leach–Bliley Act. This, combined with a certain war that will remain unnamed and the turmoil that followed, skyrocketed the price of oil. Oil jumped from around $25 dollars a barrel, to close to $100. We could repeal that law. It creates bubbles. It doesn’t matter how much money was invested. There shouldn’t be guarantee’s that if you place a bet, that you will win.

And why did oil futures go through the roof when Obama started pushing his anti-energy producing agenda?   Gee, I can’t imagine…

Its the same reason that firearms and ammo prices went up when he was elected. It is a phony market. Glad we agree that the speculation act should be overturned.

Like that wasn’t part of the plan for this interview ???????? 

Hey mister gas man – just remember – when I start talking – put the new price up.

She should stand in front of the national debt and unemployment numbers the Obummer admin is racking up!!

I don’t see anything in Wikipedia’s summary of the bill that would suggest that this particular legislation loosened regulations on speculation. It did allow depository banks and investment banks to merge which has lead to problems, but I am not sure that it is driving force behind the speculative markets.

Speculation is pretty much like many good things gone bad once Wall Street finds a way to exploit it for their own interest. I don’t think that anyone really cares for the ill effects of speculation on many areas of our economy, there are those who claim that speculation in our food commodities is driving the prices of groceries well beyond what would be the market price and that the reason there is no down side is that the big money on Wall Street keeps buying contracts so that we are in an ever increasing upwards spiral so they have not had to face the realities of the market as they have created a false market so to speak. I am not so sure if I believe this but like I said I have seen it reported.

Bottom line is that the futures contracts are not going away as they are a necessary part of our economy for business planners, farmers, and producers… I would ask if we can really legislate effective rules in the futures markets as would the money not simply move to overseas markets especially on commodities such as oil?

My opinion is that to solve the issue of rising fuel prices instead of allowing the government to point fingers we should hold them accountable to coming up with a sound energy program which allows us to exploit our available resources, our government has frustrated our own production only to rely on others, how does this make sense for the largest consumer of energy on earth?

http://en.wikipedia.org/wiki/Gramm%E2%80%93Leach%E2%80%93Bliley_Act

Jack, I like ya and all, but your first problem was quoting wiki. Not a credible source, but I give you an A for effort.

I never said that it was the reason, I said it started the reason. Most of it was put into play during the first few months of the Bush Administration. With that act in place, it opened the flood gates. Now in theory, I understand why it was done. We have moved from a manufacturing based economy, to a information based economy and the move happened at a bad time. There was not yet a workforce, demand, or capital in place (unlike in the 1890′s) and something had to be done. However the bubble grew too big in a small amount of time and pop.

I don’t agree with you saying they won’t go away. They said the same thing during the great depression (though, too be honest, WWII and the cold war had a lot to do with us getting out of it) and the same thing about monopolies, however history shows us that they were taken on and overturned (by presidents with the same last name no less). Therefor they are not essential to our economy. That’s like saying sports books is essential to the NFL.

The main problem I see, is that there was no one pointing fingers after the market crash of 2008. There is no one willing to take on something that means a lot of money to a lot of people, no matter how it effects the rest. I agree we can’t have a uncontrollable government bureaucracy, but there is little difference in that and a private one. The market is a game, and a game must have rules.

 You have just figured out the secret.  If it is on camera, it was planned.

LOL I like you too, but it does seem that we are somehow talking across each other. I mentioned Wiki not because I consider them to be a great source of information, I went there because I was not particularly familiar with the piece of legislation you cited and wanted to understand it before responding… having said that I do think that wiki provides a good cursory look at a particular topic.

I am having a hard time tracking where our conversation is going, it is about gas prices and the role that speculation is playing in pushing the prices upward, it seems that either I am missing something which well may be the case or you have introduced other topics to the conversation, such as the crash of 2008 which yes the repeal of Glass Steagall Act via Gramm Leach Bliley had much to do with, along with a bunch of other things including changes to the Community Reinvestment Act and the prevailing attitudes of congress leading up to the crash… But I am not so sure that this has really had that much impact on the futures markets and our prices of energy.

When I say that futures trading is not going away it is because futures markets are extremely important to both industry and agriculture, if I manufacture auto radiators for example, I am a heavy user of copper in my manufacturing process, it is important for me as I plan my business activities to be able to lock in a future price on copper so that I can rely on my ability to execute my business plan. A similar but reverse situation works in agriculture, as a farmer planting several hundred acres of grain for example, fluctuations in the market can be disastrous to me… so as I prepare to plant, I can sell a future contract on the grain that I will produce and then manage my activity and costs around that contract to insure that I will be ok when I harvest that corn… the same can be said of airlines and jet fuel contracts as can of the radiator manufacturer, this is why I say that commodity trading will not go away. I think that trying to regulate these contracts and especially margin contracts may be a good thing but I do not think that this is how we are going to solve our problems with the high costs of energy into the future… IMO the problem with energy costs are a deeper underlying problem of our governments inability to produce an effective energy policy and production strategy for this country.

Just for your future reference,when you come upon an article such as this, and your the first post, it’s much easier and much more accurate to post:

“REPUGNANT TALKING POINTS IN 5,4,3,2,1……………………”

Where’s Obimbo on this issue? Oh ya, he’s pretending to be a blues-singer.

Q: What is Obama’s answer to skyrocketing gasoline prices?
A: TOG-A….TOG-A….TOG-A….TOG-A…TOG-A………

The customer said “they.”  THEY ??  “They” is Barack Obama and the environmentalist nuts who want higher prices so you drive less.  Obama had said, “Energy prices will necessarily skyrocket.”  Do you think he was kidding?  The people who voted for Obama are fools and have no room to complain.

What does George Bush have to do with Obama’s “energy prices will necessarily skyrocket” policy? 

How about subsidising gas guzzling vehicles that helped to deplete the worlds energy stores?  or ignoring Iran to invade Iraq?  or promoting oil consumption that supports terrorism?

Or that their threat of invading Iran is a good part of the rise.

 Because republicans threatening to invade Iran have NOHING to do with it?

 They have been all along

Fear of Iran is inflating gas prices

Gas Prices Could Skyrocket After Iran Tensions

Iran troubles could mean higher gas prices

If the price of gas rose at one station ten cents during Sawyer’s report… why didn’t she ask how that was even POSSIBLE? Didn’t the station owner buy at ONE price? – and wouldn’t it be gouging to raise that price?

This Gas price spike was well known two months ago….when did you hear about it?

A. Put air in your tires?

HA HA HA HA HA HA

Wow! Don’t give him any ideas! LOL

The men at the party might find too easy access to the President in such a situation. :-D

It was 40 cents less a gallon 2 month ago and had been declining the previous 4 months before that. So now you are upset that they weren’t covering declining gas prices? Which one is it? 

Yes, speculation can raise gas prices – but only if the majority opinion of the players is that prices will rise.

Speculation will also lower gas prices if the opinion is that they will fall.

Ban shallow water drilling in the gulf, hinder drilling in West Texas to save a non-endangered lizard, halt pipeline construction, minimize drilling everywhere possible and you have produced a scenario to dramatically increase gas prices.

Obama’s Energy Secretary Chu is on record for wanting $ 8 per gallon gasoline … and that was well before QE1, QE2, and QE3… perhaps his target number now is more like $ 10 – 12 per gallon.

This won’t be pretty.

 http://www.nytimes.com/1990/09/14/business/the-media-business-advertising-crisis-spurs-campaign-to-save-oil.html

Check the date on that.  Guess who was president back then?

And it will continue to go up untill we get rid of this worthless Idiot sitting in the Oval Office, and elect someone who wants to get America going again, instead of someone who just throws parties, acts like a Rock Star, plays Golf constantly and goes on a luxurious vacations every two months on the taxpayer dime, while Americans suffer!  That someone is the son of a twobit street whore, B. Hussein Obama!  I served under Presidents Nixon thru Reagan, had the highest Respect, even Loved some of my Presidents, but Obama is one disgusting piece of Trash that needs to be set to the Curb for the Trashman to pick up.

BLAH, BLAH, BLAH……