Barrons calling $150/barrel oil in Spring 2011

[Stifler's Mom]

$96/barrel currently + Large Media Source reporting $150/barrel in the future = Possible Speculator Feeding Frenzy.

Hopefully this is nothing more than Barron's trying to strum up readership by printing a fearful sounding article.

 

[freightdogfred]

OPEC does NOT control the price of oil. We are slaves to the market and those who manipulate it...I.E. banks and speculators.

We are slaves to the market because as the junkie is hooked to the needle, the consumer is hooked to cheap oil. Banks and speculators merely exploit the consumer's demand and profit by it. Tariffs on foreign oil will only exacerbate the problem. (This is how the Texas oilman G.W. Bush rose to power, on this very platform.) It didn't work then, and it won't work now, it merely prolongs cheap oil for the oil junkie. Taxing ALL oil will eventually cut demand, and use the tax revenue for R&D on other energy sources. John Anderson, who ran for prez in 1980 against Reagan and Carter proposed exactly that and was soundly defeated. Imagine how much better this country would be now had his energy policies been adapted. The day of reckoning is coming, make no mistake.


http://www.4president.org/brochures/andersonlucey1980brochure.htm

 

[pilotyip]

OPEC does NOT control the price of oil. We are slaves to the market and those who manipulate it...I.E. banks and speculators.

True, but they affect the actions of those who speculate by controlling production.

We are slaves to the market because as the junkie is hooked to the needle, the consumer is hooked to cheap oil. Banks and speculators merely exploit the consumer's demand and profit by it. Tariffs on foreign oil will only exacerbate the problem. (This is how the Texas oilman G.W. Bush rose to power, on this very platform.) It didn't work then, and it won't work now, it merely prolongs cheap oil for the oil junkie. Taxing ALL oil will eventually cut demand, and use the tax revenue for R&D on other energy sources. John Anderson, who ran for prez in 1980 against Reagan and Carter proposed exactly that and was soundly defeated. Imagine how much better this country would be now had his energy policies been adapted. The day of reckoning is coming, make no mistake.


[URL="http://www.4president.org/brochures/andersonlucey1980brochure.htm"]http://www.4president.org/brochures/andersonlucey1980brochure.htm[/URL]

goes back to no ploitican can get elected by saying he will raise the price of oil.