Gasoline up 100% under Obama

[dapoes]

It's a Wagner Power Painter and it does a wonderful job painting the Left into their Morally & Ethically Bankrupt corner where they belong. Freedom, Liberty and the ability not to conform to their orthodoxy scares the excrement out of the left where free thinking is not permitted.

Very well put lol

 

[dapoes]

Googled and picked one of many articles. Faux News has even admitted such is true but you continue to want to hide behind the truth. As I've stated before you like drinking the kool-aid and just can't get enough. Oil should be at $75 tops but greed and kool-aid drinkers will get us to this point. The Republican agenda of losing jobs so that Obama doesn't get re-elected is a piss poor plan that is only hurting all but the richest 2% but that won't matter because of all the kool-aid drinkers out there ready to listen to the hate message they continue to spew. Keep listening and stay in the 98% struggling group or edumucate (misspelled on purpose) yourself and fight the real problem we all face, the rich supporters or Republican'ts.

I see comprehension is a problem for you. Obama said energy prices should "necessarily" increase with the help of gov controls (his own words) And they have. Obamas energy czar says gas prices should be more like Europe. And they are fast approaching that goal. Yet you somehow spin this on the republicans and the rich? Looks to me like the only fight you should have is with the ignorant person in the mirror you stare at each morning.

 

[P. REZ]

I see comprehension is a problem for you. Obama said energy prices should "necessarily" increase with the help of gov controls (his own words) And they have. Obamas energy czar says gas prices should be more like Europe. And they are fast approaching that goal. Yet you somehow spin this on the republicans and the rich? Looks to me like the only fight you should have is with the ignorant person in the mirror you stare at each morning.

* Business
* Oil

Goldman Sachs signals end of oil price rises

• Goldman clients advised to sell out of commodities
• Crude price falls by up to $3.25 per barrel

*
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o Share65
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Comments (9)

* Tom Bawden
* guardian.co.uk, Tuesday 12 April 2011 20.37 BST
* Article history

US oil industry
Goldman noted that oil prices have been inflated by record levels of speculative trading. Photograph: David Mcnew/Getty Images

The oil price tumbled by as much as $3.25 a barrel on Tuesday after the world's biggest commodity trader called the top of the market for crude and a range of other commodities – at least for the time being.

Goldman Sachs advised its clients to sell their investments in oil, copper, platinum and cotton, arguing that record levels of speculative trading in crude have pushed their prices up so much in recent months that "in the near term, risk-reward no longer favours" holding those commodities.

After a 25% rise in the value of the CCCP basket (comprising crude oil, copper, cotton, soya beans and platinum) in four months, investors' best bet is to quit while they are ahead, the bank said.

Goldman has a huge influence in the market and the bank's recommendation was backed up by another influential player. The International Energy Agency (IEA) warned that crude was now so expensive that it was hitting the global economy, reducing the demand for oil and, in turn, other commodities. This is likely to result in a "less palatable route to price moderation", the IEA said.

Meanwhile, concerns about the economic outlook for China and Japan dragged commodities down further after the International Monetary Fund warned that potentially damaging credit and asset bubbles could be forming in China, while Japan's Nuclear and Industrial Safety Agency raised the severity level of the country's nuclear crisis.

Brent crude dropped by as much as 2.6% to $120.73, before rising slightly to stand at $120.94 in late afternoon trading. Copper fell by more than 2%, platinum declined by about 1% and cotton by nearly 3%. Gold fell by 1%, sugar by nearly 2% and wheat by almost 3%.

In a note to clients, Jeffrey Currie, global head of commodities strategy at Goldman, said that its decision in December to advise clients to invest in the CCCP basket had been "driven by an expectation of rising demand from the leading emerging market players".

He went on: "While that did play out early this year in the non-energy sections of the basket, it was overtaken by a supply shock driven by events in the Middle East. That has had the effect of introducing more downside risk into the trade, particularly given record levels of speculative longs [trading] in crude."

Up to $27 of the price of every barrel of oil is down to speculators, who buy oil as an investment rather than to use it, according to calculations by Reuters. The value of outstanding oil futures contracts hit a record $26.7bn this month, according to Bank of America Merrill Lynch's hedge fund monitor, as speculators bet that the oil price rise would continue.

Tony Dillon, an oil specialist at ICIS Heren, the energy researcher, said: "The Goldman note has certainly had an effect. Oil has been rising on the back of events in Libya and Japan, and people are now saying, 'Hang on, maybe we overdid it.'

"Crude oil prices lead the way and are closely linked to other commodities in general," Dillon added.

Although the CCCP basket still has the potential to rise in value over the next 12 months – if emerging economies perform well and stoke underlying demand – in the short term Currie is recommending that his clients sell out.

"Not only are there now nascent signs of oil demand destruction in the US, but also record speculative length in the oil market, elections in Nigeria and a potential ceasefire in Libya," says Currie, adding that these are offsetting the upward pressure exerted on prices by fears that the unrest in the Middle East could spread.

Copper and platinum prices "face near-term headwinds" as the high price of oil reduces demand for products and, in turn, their raw materials, Currie said. At the same time supply problems stemming from the Japanese crisis have reduced manufacturers' output, hitting demand particularly for platinum, which is a key component in car manufacturing. The high price of copper means it too is "vulnerable" Currie adds.

The CCCP basket has a 40% weighting in oil, 20% in copper, 20% platinum and 10% in cotton. The other 10% is in soya beans, which Goldman expects to keep rising, as China feeds its growing number of pigs and other livestock. Three years ago Goldman rattled investors by predicting an oil "super-spike" that would push prices to $200 per barrel by the turn of the decade.

Keep drinking the kool-aid. The market is inflated by speculators. The Republican'ts want to cut the Government oversight on speculation and any other oversight to stop the greed. Look in the mirror yourself and watch something other than Faux news.

 

[SparrowHawk]

Did it ever occur to anyone to take note of the FACT that Barack Obama is joined at the hip to Goldman Sachs? Much like Chaney/Halliburton?

Or am I missing something. Oh and BTW why has the Fed NEVER been audited?

 

[delldude]

You know, if we shut down or limited domestic exploration and drilling and spread the wealth to other countries like Brazil so they could develop what we used to have, it might help drive up oil futures and force Americans to buy the Obamamobile and stimulate our economy.

Obama touts the Volt. Didn't Hitler like the 'Peoples Wagen?'

 

[dapoes]

GOP admits speculation is helping boost oil prices, moves to gut speculation watchdog anyway
March 19, 2011

The Commodity Futures Trading Commission (CFTC) — which is charged with policing the country’s futures markets — said last week that speculation on energy futures, including oil, is at an all-time high. The Dodd-Frank financial reform law gave the CFTC the ability to issue limits on oil speculation, but agency missed the deadline for implementing the new rules, partly due to reluctance from conservative members of the CFTC board (which is a problem President Obama can address in June).

But even if the CFTC were stepping up, budget cuts favored by House Republicans would render market oversight vastly more difficult, as WonkRoom explains.

H.R. 1, the House Republican-approved spending plan for the remainder of 2011, cuts the CFTC budget by nearly one-third, which would force the agency to lay off nearly 30 percent of its staff. CFTC Chairman Gary Gensler has said that if the GOP budget cuts were implemented, “We would not be able to police…or ensure transparent markets in futures or swaps.”

And Republicans are forging ahead with these budget cuts even though they agree that oil speculation is increasing prices:

Rep. Ed Whitfield (R-Ky.), a senior House Energy and Commerce Committee member, recalled prior oil-speculation hearings and said “there was no question that that had some impact” on the 2008 uptick. “I think there is a combination of reasons for the recent spike,” he said in an interview yesterday.

Rep. Mike Simpson (R-Idaho), chairman of the House Appropriations subpanel in charge of EPA and the Interior Department, said policies at the departments he oversees play a role in rising prices but agreed that speculation does as well. “Traders look out and see what’s about to potentially happen, so it has to do with speculation,” Simpson said in an interview. “That adds to the overall equation.”

Both Whitfield and Simpson voted for the budget cuts in H.R. 1. Rep. Walter Jones (R-NC), however, voted against H.R. 1 (one of just three Republicans to do so) and sent a letter to the CFTC asking that it enforce the speculation limits set out in Dodd-Frank. “Most oil market experts agree that excessive, unnecessary speculation by Wall Street traders is part of the problem,” Jones wrote. “Further delay by the commission leaves consumers and markets exposed to manipulation at a time when this nation can least afford it.”

Gensler appeared before a House appropriations subcommittee today to request increased funding for the CFTC, but the subcommittee’s chairman, Rep. Jack Kingston (R., Ga.), was unmoved.


Try this on for the reality of life. On the NYMEX it costs $3375 to speculate on $67,000 worth of oil which is causing these high prices. Our reserves are at all time highs.

Oh look.........you are right...............gas is going down as we speak!

Gas at $4 in nation's capital, 5 states; NY next

 

[SparrowHawk]

Goldman Sachs signals end of oil price rises

• Goldman clients advised to sell out of commodities
• Crude price falls by up to $3.25 per barrel


US oil industry
Goldman noted that oil prices have been inflated by record levels of speculative trading. Photograph: David Mcnew/Getty Images

The oil price tumbled by as much as $3.25 a barrel on Tuesday after the world's biggest commodity trader called the top of the market for crude and a range of other commodities – at least for the time being.

Goldman Sachs advised its clients to sell their investments in oil, copper, platinum and cotton, arguing that record levels of speculative trading in crude have pushed their prices up so much in recent months that "in the near term, risk-reward no longer favours" holding those commodities.

Goldman Sachs signals end of oil price rises. Is anyone not even the least bit concerned by that headline? Goldman Sachs is huge on Wall Street AND at 1600 Pennsylvania Ave. Many Obamacrats made their fortunes as a result of employment with Goldman Sachs. Now as we enter an election cycle, Goldman Sachs attempts to manipulate the world oil market by issuing a sell recommendation.

This kind of crap makes Chaney/Halliburton seem like the name of a Boy Scout Troop

MORE proof that the Dems and Repubs are nothing more than 2 wings on the same bird of prey

 

[tech2101]

Goldman Sachs is huge on Wall Street AND at 1600 Pennsylvania Ave. Many Obamacrats made their fortunes as a result of employment with Goldman Sachs. Now as we enter an election cycle, Goldman Sachs attempts to manipulate the world oil market by issuing a sell recommendation.

So you are saying the socialist in chief is not taking from the big bankers/Wall Street Gurus and giving to the poor?

Oh the humanity!

 

[SparrowHawk]

So you are saying the socialist in chief is not taking from the big bankers/Wall Street Gurus and giving to the poor?

Oh the humanity!

I work one week a year for a self identified "Flaming Limousine Liberal" and have done so for 23 years now. So I have observed the species in the wild. She's a sweet, kind and generous lady who genuinely believes to the core of her being that the Government knows best and that it's the role of government is to "Help" those who can't/don't/won't help themselves.

As a result she vilifies Republicans and conservatives at every turn and refuses to see that her side of the political spectrum engages in the exact same duplicity as those she rants against. She loves to sit around over a couple of beers and debate me. Best time was when she laughed and said "Jesus Bob, You're such a F-cking Libertarian, but I love you anyway".

Told you all of that to tell you this. We must be ever mindful of the fact that those of us who draw a paycheck out number those who provide us the opportunity to do so. We have the numbers to take back America and we need to remind the Goldman Sachs and Halliburton's of the world of this fact. Sooner would be better than later

 

[delldude]

So you are saying the socialist in chief is not taking from the big bankers/Wall Street Gurus and giving to the poor?

Oh the humanity!

Jump back and check yourself, Pal.

He spread your wealth across the pond during the bailout......big time.

 

[Dog Wonder]

Dem Communiss, dey sneaky.

Dey did dat helf care ding fer da insurance compnees.

 

[delldude]

Dem Communiss, dey sneaky.

Dey did dat helf care ding fer da insurance compnees.

Собака Товарища, Bernanke и Giethner - социалисты, которые сопротивлялись любому выпуску названий банков, которые получили финансирование катапультирования под Obama. Его очевидное Вы не имеете ключ относительно того, что мы обсуждаем также. 😛

 

[Dog Wonder]

Roughly translated

Leonid, Solidarity has struck the shipyards in Gdansk. The uprising could bring down the Soviet.

Yuri, you must be kidding. Communism is about the workers. Isn't Solidarity a union?

Yes Leonid, they are tired of Communism feeding the elite at the workers' expense.

No worries Yuri, the unions are weak and we are rich. They could never bring us down. We are to big.

 

[P. REZ]

Oh look.........you are right...............gas is going down as we speak!

Gas at $4 in nation's capital, 5 states; NY next

Think I say think. Are you kidding me? You are arguing that there isn't speculation because gas prices are going up? You are a lost cause. You deserve everything Corporate America gives you, or I mean does to you.

 

[dapoes]

* Business
* Oil

Goldman Sachs signals end of oil price rises

• Goldman clients advised to sell out of commodities
• Crude price falls by up to $3.25 per barrel

*
o
o Share65
o Reddit
o Buzz up
*
Comments (9)

* Tom Bawden
* guardian.co.uk, Tuesday 12 April 2011 20.37 BST
* Article history

US oil industry
Goldman noted that oil prices have been inflated by record levels of speculative trading. Photograph: David Mcnew/Getty Images

The oil price tumbled by as much as $3.25 a barrel on Tuesday after the world's biggest commodity trader called the top of the market for crude and a range of other commodities – at least for the time being.

Goldman Sachs advised its clients to sell their investments in oil, copper, platinum and cotton, arguing that record levels of speculative trading in crude have pushed their prices up so much in recent months that "in the near term, risk-reward no longer favours" holding those commodities.

After a 25% rise in the value of the CCCP basket (comprising crude oil, copper, cotton, soya beans and platinum) in four months, investors' best bet is to quit while they are ahead, the bank said.

Goldman has a huge influence in the market and the bank's recommendation was backed up by another influential player. The International Energy Agency (IEA) warned that crude was now so expensive that it was hitting the global economy, reducing the demand for oil and, in turn, other commodities. This is likely to result in a "less palatable route to price moderation", the IEA said.

Meanwhile, concerns about the economic outlook for China and Japan dragged commodities down further after the International Monetary Fund warned that potentially damaging credit and asset bubbles could be forming in China, while Japan's Nuclear and Industrial Safety Agency raised the severity level of the country's nuclear crisis.

Brent crude dropped by as much as 2.6% to $120.73, before rising slightly to stand at $120.94 in late afternoon trading. Copper fell by more than 2%, platinum declined by about 1% and cotton by nearly 3%. Gold fell by 1%, sugar by nearly 2% and wheat by almost 3%.

In a note to clients, Jeffrey Currie, global head of commodities strategy at Goldman, said that its decision in December to advise clients to invest in the CCCP basket had been "driven by an expectation of rising demand from the leading emerging market players".

He went on: "While that did play out early this year in the non-energy sections of the basket, it was overtaken by a supply shock driven by events in the Middle East. That has had the effect of introducing more downside risk into the trade, particularly given record levels of speculative longs [trading] in crude."

Up to $27 of the price of every barrel of oil is down to speculators, who buy oil as an investment rather than to use it, according to calculations by Reuters. The value of outstanding oil futures contracts hit a record $26.7bn this month, according to Bank of America Merrill Lynch's hedge fund monitor, as speculators bet that the oil price rise would continue.

Tony Dillon, an oil specialist at ICIS Heren, the energy researcher, said: "The Goldman note has certainly had an effect. Oil has been rising on the back of events in Libya and Japan, and people are now saying, 'Hang on, maybe we overdid it.'

"Crude oil prices lead the way and are closely linked to other commodities in general," Dillon added.

Although the CCCP basket still has the potential to rise in value over the next 12 months – if emerging economies perform well and stoke underlying demand – in the short term Currie is recommending that his clients sell out.

"Not only are there now nascent signs of oil demand destruction in the US, but also record speculative length in the oil market, elections in Nigeria and a potential ceasefire in Libya," says Currie, adding that these are offsetting the upward pressure exerted on prices by fears that the unrest in the Middle East could spread.

Copper and platinum prices "face near-term headwinds" as the high price of oil reduces demand for products and, in turn, their raw materials, Currie said. At the same time supply problems stemming from the Japanese crisis have reduced manufacturers' output, hitting demand particularly for platinum, which is a key component in car manufacturing. The high price of copper means it too is "vulnerable" Currie adds.

The CCCP basket has a 40% weighting in oil, 20% in copper, 20% platinum and 10% in cotton. The other 10% is in soya beans, which Goldman expects to keep rising, as China feeds its growing number of pigs and other livestock. Three years ago Goldman rattled investors by predicting an oil "super-spike" that would push prices to $200 per barrel by the turn of the decade.

Keep drinking the kool-aid. The market is inflated by speculators. The Republican'ts want to cut the Government oversight on speculation and any other oversight to stop the greed. Look in the mirror yourself and watch something other than Faux news.

Oh look you were right again! You and Goldman share that same crystal ball!

O wait....hold that thought.....

Crude Now Higher Than At Goldman Downgrade​

All those who listened to Goldman and sold their oil exposure (to Goldman) may not be delighted to know that WTI is now trading at a higher price than where Goldman advised all their oh so precious clients to dump the black gold. As a reminder on April 12 Goldman released one of three bearish reports on oil expecting brent to drop to $105. In the meantime, cause a sell off in the energy complex. Seven trading days later, those who shorted on Goldman's advice, are now underwater. In the meantime we look forward to Goldman reporting another flawless trading quarter in their Q2 10Q some time in July. Of course by then Goldman's "transitory" deflation bias will be long over. Conclusion: You can't polish a turd nor can you expect any advice from GS that does not only benefit themselves.

Sorry REZ you really need to see someone about that foot in mouth disease.