ChiefsPlanet - Gasoline at $4 Coming to a Pump Near You, Unfazed by Rising Tab

How does my statement make me Mr. Chavez? All I'm saying is get rid of the artificial trading going on in the market. It may benefit the few (You?) while it hurt's the rest of the of us and the economy. <O:p</O:p

Tell the wizard to quit dumping so many dollars into the game then.

Buzz	05-06-2009 12:56 PM

Quote:

Originally Posted by Donger (Post 5745009)

I don't believe government control of a specific commodity is a good idea for us.

I didnt say the oil commodity should not be traded. I think it was deregulation of the energy market allowing this type of trading that was a bad idea.

Calcountry

05-06-2009 12:57 PM

Quote:

Originally Posted by Donger (Post 5745009)

I don't believe government control of a specific commodity is a good idea for us.

And why the hell not? They already control credit, housing, and automobiles, why not go for oil?

InChiefsHeaven

05-06-2009 01:22 PM

Quote:

Originally Posted by Calcountry (Post 5745044)

And why the hell not? They already control credit, housing, and automobiles, why not go for oil?

OH, that's coming. Believe it.

Donger

05-06-2009 01:39 PM

Quote:

Originally Posted by Buzz Lightbeer (Post 5745041)

I didnt say the oil commodity should not be traded. I think it was deregulation of the energy market allowing this type of trading that was a bad idea.

We tried price controls once before. It, well, wasn't very pretty.

Boon	05-06-2009 02:26 PM

Electricity and natural gas rates are regulated.
Thank God!

Donger

05-06-2009 02:41 PM

Quote:

Originally Posted by Boon (Post 5745280)

Electricity and natural gas rates are regulated.
Thank God!

The danger with regulating the price of crude (or the price of gasoline) is that it is a globally traded commodity. Since we generate most of our electricity from domestic sources and therefore don't have to compete with other countries for supply, regulation can work. The same is true for NG, of which we have plenty.

Buzz	05-06-2009 03:03 PM

Quote:

Originally Posted by Donger (Post 5745149)

We tried price controls once before. It, well, wasn't very pretty.

It's not price controls... It would just stop traders from betting on the price of oil that they will never take delivery of. Oil would still be traded.

Donger

05-06-2009 03:08 PM

Quote:

Originally Posted by Buzz Lightbeer (Post 5745391)

It's not price controls... It would just stop traders from betting on the price of oil that they will never take delivery of. Oil would still be traded.

And you would apply this control to traders beyond our shores? If so, how?