Thread: Oil Speculators World WIde

Unless Obama takes on the world & decides that he will dictate to other countries how to run their trade, how's he plan on stopping the speculators as he promised? He can't.
Another flip flop, or just another broken promise by Obama?

Answer Desk: Why not ban oil speculation? - Answer desk - MSNBC.com

How else?

Obama proposes new tax on oil companies

My oil shares are producing fantastic dividends and they act as a real hedge against inflation undercutting my portfolios. I bought in at $63.23 per barrel and my share value has more than doubled. Taxing the oil companies will have no effect. The exchanges set the price of a barrel of crude, not OPEC or the oil companies.

Originally Posted by Migi e!

Unless Obama takes on the world & decides that he will dictate to other countries how to run their trade, how's he plan on stopping the speculators as he promised? He can't.
Another flip flop, or just another broken promise by Obama?

Answer Desk: Why not ban oil speculation? - Answer desk - MSNBC.com

Congress has already acted on closing the loophole the NeoCons passed in 2000 ("at the behest of Enron lobbyists) allowing speculators to operate outside of federal regulations.

"My plan fully closes the Enron loophole and restores commonsense regulation as part of my broader plan to ease the burden for struggling families today while investing in a better future," Obama said in a campaign statement. ~Obama


I know it's eating you alive that Obama just may have good intentions for the American people, hell, this act alone would definetley lock him in as POTUS in November.

Originally Posted by Bourne

My oil shares are producing fantastic dividends and they act as a real hedge against inflation undercutting my portfolios. I bought in at $63.23 per barrel and my share value has more than doubled. Taxing the oil companies will have no effect. The exchanges set the price of a barrel of crude, not OPEC or the oil companies.

So, taxing Big Oil would not affect you directly?

Originally Posted by Defensor

How else?

Obama proposes new tax on oil companies

Ya know, either obama is one stupid/ignorant/arrogant peckerhead, or he's lying about the reasons he would impose a "new tax" on oil.
Who does he think will pay those taxes? Just the rich?

Originally Posted by Migi e!

Ya know, either obama is one stupid/ignorant/arrogant peckerhead, or he's lying about the reasons he would impose a "new tax" on oil.
Who does he think will pay those taxes? Just the rich?

I would say both. he is also in favor of geothermal energy you might want to go to Nova episode supervolcanoes. The short version of the story is geothermal involves grave risk of putting a hairtrigger on a multi-gigatonne equivalent explosion that could set off an ice age in a matter of weeks.

Originally Posted by Inkslinger

So, taxing Big Oil would not affect you directly?

It will effect me when it raises the price of gas and everything related (which is to say pretty much everything).