High gas prices? who to blame?

[Steve]

when all the oil prices finally hit that point that demand slows, and an investigation starts who will be seen as the bad guy, right now any liberal with a whiney voice is blaming the president, but who is making the money off the high price?

Take away costs added by speculation, say some economists, and you'd find oil prices would be closer to $35 per barrel than $50.

Well surprise, it's a liberal with an aganda!

"The New York Mercantile Exchange last month reported an all-time high in trading for crude oil-futures contracts. Regulators said noncommercial traders, pension funds and the more speculative hedge funds accounted for 34 percent of the contracts last month."

Mr Soros may have been playing in this market. It is, after all, his business. It is also possible that he was doing so in hope of damaging President Bush politically. He has made that his business as well, of late.

While Mr Soros has operations that are large enough to have an impact on a single market – just look at what he did to the British pound – he is certainly not the only player out there that was betting on higher oil prices,

The second source of higher prices suggested in Greenspan's testimony was speculators influencing prices by taking larger positions in crude oil futures. This would suggest that more active trading was taking place before and during the time period when oil prices were reaching record nominal levels. A cursory examination of petroleum futures volume data from the Wall Street Journal indicates that the volume of trades was up during this time period, suggesting that enhanced speculation did contribute to the increase in oil prices.

When Soros opens the hunt, the international money markets get moving and the reserve banks start worrying. In Sept. 1993 he succeeded over the Bank of England. He was certain the Bank would have to take the pound that came under pressure out of the European exchange mechanism and devalue it. He gambled 10 Billion US$ --with success. He made 1 Billion US$, which the British taxpayers now have to come up with. He himself likes to be openly known as the man who wants to influence the big money markets of the world. This is a very unusual stance for an investor to take, who should rather be interested in using situations unobservantly that the competitors have not yet discovered. In March 1993, Soros' activities became known when he predicted a rise in the price of gold. It is assumed --since this started a buying spree in precious metals --that this drove the price up 20% over the highest price since the Gulf War.

Soros and his friends immediately profited from the situation. Marc Rich, the world's largest aluminum dealer, started to buy up alot of Russian aluminum at incredibly low prices with which in 1993 he proceeded to flood the market in the industrialized countries and thus caused the price of aluminum to plummet by 30%. This is just one example of the Soros exploitation.

we all know George Soros, Now who is this Marc Rich guy:

On Jan. 20, President Clinton gave Rich a chance for a third "do-over." Clinton wiped all the criminal charges off of Rich's record with a presidential pardon on his last day in power. The Rich pardon has received special attention because Denise Rich raised and donated more than $1 million to the Democratic Party in recent years and also provided the Clintons directly with a $10,000 contribution to their legal defense fund and $7,300 worth of furniture.,,

why is it that the liberal leaders are so Quick to blame Republicans, when the big finacial (criminal) players are large supporters of the Democratic party?

Take away costs added by speculation, say some economists, and you'd find oil prices would be closer to $35 per barrel than $50.

 

[SDSteve]

Last time I checked oil was $67 a barrel not $50. Just how old is this story anyway??????? If Bush would get Iraqi oil flowing it would be $35. It is complete incompetence that no oil is flowing out of Iraq.