http://www.washingtonwatch.com/bills info@washingtonwatch.com http://www.pjdoland.com/chai/?v=0.1 http://www.washingtonwatch.com/bills/show/110_SN_3268.html#39632 This bill assumes that capital can only play on the traditional US dollar denominated commodities markets (NYMEX and the ICE.) Basically this bill assumes that if we shut down the speculation game in New York and London that will be the end of the game. It STUPIDLY ignores the new (Euro denominated) oil bourses in the UAE, Russia, japan, Iran and China. If we try to shut this game down it will collapse the US dollar FOREVER as capital flees the American market in search of greener pastures. This may be the only time I have ever agreed with the Bush Admin but I must agree that this is a very very stupid bill, unless you actually want to crush the America economy forever.... 39632@http://www.washingtonwatch.com Wed, 30 Jul 2008 23:46:52 EDT http://www.washingtonwatch.com/bills/show/110_SN_3268.html#39608 We need more energy now. Wake up people, we are being scammed by politicians and foreign interests who benefit from our paralysis. Congress must enable nuclear power and natural gas production to coordinate the wind and solar sources as they develop and grow.... 39608@http://www.washingtonwatch.com Wed, 30 Jul 2008 15:57:49 EDT http://www.washingtonwatch.com/bills/show/110_SN_3268.html#39499 Don't give me quotes, don't show me statistics, don't show me trends, explain exactly WHY speculation is causing the price of oil to be artificially high. I have yet to hear a coherent explanation on why speculation is to blame and I doubt I ever will. If you don't understand it either then don't buy into it. This demonization of speculators is about as bad as the demonization of the oil companies, the Iranians and the mortgage lenders.... 39499@http://www.washingtonwatch.com Mon, 28 Jul 2008 19:02:12 EDT http://www.washingtonwatch.com/bills/show/110_SN_3268.html#39465 The commodity futures markets were established to insure continuity of supply and stability of price. Hedgeing by markey makers does just that. Currently a high percentage of contracts are held and bid upon by investment banks and speculators not in the business of physically dealing with a specific commodity. S. 3268 would be a positive step to close loopholes and introduce proper oversite. Urge your Congressman to support this bill.... 39465@http://www.washingtonwatch.com Mon, 28 Jul 2008 10:36:37 EDT http://www.washingtonwatch.com/bills/show/110_SN_3268.html#39393 Recent testimony of oil company executives before Congress showed oil should be $55 per barrel based on the rules of supply and demand. But the price is being bid up to unrealistic highs by unregulated speculators and investors.... 39393@http://www.washingtonwatch.com Fri, 25 Jul 2008 23:12:15 EDT http://www.washingtonwatch.com/bills/show/110_SN_3268.html#39215 Free trade is one thing "excessive price speculation" ( as stated in S.3268) is another.... 39215@http://www.washingtonwatch.com Mon, 21 Jul 2008 17:10:29 EDT http://www.washingtonwatch.com/bills/show/110_SN_3268.html#39210 The cause is deregulation since 2000 & lack of oversight. The data is mostly public people, check their site & docs...then check the public sources. The speculators have 71% of the oil market now up from 37% in 2000. The futures are trading at a ratio of 13.8x world demand up 500% from the 2.7x value in 1997: http://www.eguyana.net/Eddiebauer/blog/62/ http://www.stopoilspeculationnow.com./uploads/Paper_Chase.pdf World Supply vs. Demand in balance & demand increasing linearly. http://www.eia.doe.gov/emeu/ipsr/t21.xls http://www.eia.doe.gov/emeu/ipsr/t46.xls No supply problem either, but I'm out of space. Senate knew in June of 2006: http://www.senate.gov/~levin/newsroom/release.cfm?id=257862 Tell your reps to support Bill S. 3268 or let a small group damage or destroy the world!... 39210@http://www.washingtonwatch.com Mon, 21 Jul 2008 14:28:53 EDT http://www.washingtonwatch.com/bills/show/110_SN_3268.html#39208 The problem was created by congress with the limitations on production in collusion with the environmental extremists. Until the artificial causes are removed, we need some artificial means to stop the problem.... 39208@http://www.washingtonwatch.com Mon, 21 Jul 2008 13:27:06 EDT http://www.washingtonwatch.com/bills/show/110_SN_3268.html#39201 What we need is greater transparency into the true supply/demand that is driving the speculation. Right now, it appears the speculation is not just based on real numbers.... 39201@http://www.washingtonwatch.com Mon, 21 Jul 2008 12:09:28 EDT http://www.washingtonwatch.com/bills/show/110_SN_3268.html#39200 We're slipping down the slope to socialism and total government control. Soon we'll be in line to receive our 'ration' of oil. Let the free market 'free'. That is what has made this a great nation.... 39200@http://www.washingtonwatch.com Mon, 21 Jul 2008 11:07:36 EDT http://www.washingtonwatch.com/bills/show/110_SN_3268.html#39194 God help us.... 39194@http://www.washingtonwatch.com Mon, 21 Jul 2008 09:42:45 EDT http://www.washingtonwatch.com/bills/show/110_SN_3268.html#39150 This bill is not against all speculation, just the speculation that has no intention of using the product. The speculators having no interest in using the product are ripping everyone off by abusing loopholes in the system. If this bill does what they say, it should restrict speculation and hedging to the ones with a true physical interest in the product. The public should see immediate results. Check out www.stopoilspeculationnow.com for more info.... 39150@http://www.washingtonwatch.com Sat, 19 Jul 2008 08:48:44 EDT http://www.washingtonwatch.com/bills/show/110_SN_3268.html#39125 Speculation helps moderate supply and demand. Speculators, hoping for higher prices at a later date purchase present supplies. This increases the current price and slows current consumption. Later, if the speculator is correct, this prevents shortages and even higher prices. If the speculator is wrong, he loses big bucks and the future price will decline.... 39125@http://www.washingtonwatch.com Fri, 18 Jul 2008 14:41:45 EDT