Thread: Can you rant about something?

Rant about something, please!

It can be anything at all... I'm just interested in learning something new.

It can be about war, vegetarianism, Courtney Love, how awesome John Lennon is, your cats, Dubya, or a good movie you've just seen.

ANYTHING!

I must pass, for a rant is a violation category and I am not in the mood to lose 12 points

I'd like to rant about speculation in oil. Today, up to one-third of the price of oil, maybe 50 dollars a barrel is due to speculation.

What is this? Well buyers buy oil on the futures market, 5 to 12 months in the future. And, they "push" the price of oil up, much higher than the price should be due to supply and demand.

It's something like an auction. Only the bidders bid against themselves, and make money each day they push the price higher.
Future market speculators just keep bidding higher, and higher, pushing the prices up, for those that need to really buy oil later in the future, like the oil companies.

Oil companies don't care, because they let consumers buy the oil, doesn't come out of their money, because we the consumer will pay any price for gasoline and diesel fuel, or natural gas.

There is an answer to stop speculation in the Crude Oil Market, but President Bush won't use it.
He could issue an executive order, followed with a Congressional law or joint resolution, to make it illegal to speculate on "natural resources" that are considered crucial to America's security, like oil.

The President and Congress could require buyers of "futures" for crude oil, to actually take delivery of that product.
Since speculators don't want the oil, they only want the "contract" that would put them out of business, and the price of crude oil would drop like a lead balloon.

Rant over,. thanks.