Winter Fears in June

With the price of oil going through the roof and every other utility that people use to heat their homes going up and up people are terrified. People that can not or do not have access to alternative heat sources such as renters and some home owners are literally fearing the coming winter. This is not a joke, just talk to your neighbor if you live in a northern climate state. People are scared to death that they will either eat or heat. What are the elderly folks living alone in their houses going to do on a fixed income when the cost to feed the oil tank is more than the Social Security check they get each month. To put it simply, they will freeze to death in their own home only to be found in the spring.

Americans fought a revolution over tyranny a couple of hundred years ago because their rights to exist were trampled on by a King thousands of miles away. In perspective to that, the King has been replaced by Wall Street’s self proclaimed Lords of the free market. They are not alone in the guilt and blame for this current energy crisis but the prices will never drop to where they were before simply because financial gravity dictates that it can not and will not. In all of this speculation is mutual funds that many of us own and have profited from with the rising price of oil. Retirement funds moved dollars into oil when the dollar fell on the world markets and in doing so reaped enormous profits for the funds.

We have a revolution on our hands in America and the enemy is Us! We can choose to shoot ourselves in our foot with our retirement investments or we can shoot ourselves in the foot with our need for gasoline and home heating oil at a reasonable price? Pick one, then pick a foot to shoot off!

What can you do as your part of the energy revolution? Move your investments out of oil stocks and energy futures. Place the funds into alternative energy research and the double digit growing green energy field. Talk to your investment analyst but make your voice loud and clear. Wall Street and the markets are pricing you out of heat this coming winter and now is the time to speak up with your investment dollars.

We can all bitch and moan about the cost to heat our homes but if you benefit from the gains for the sake of someone freezing to death because a cheaper alternative energy investment did not have the potential gain then the game is the game. When it’s ten degrees out and the thermostat for your grandparents is set at 45 degrees because the oil will run out faster than the pension money does then it is what it is. Investment dollar gains in your IRA or 401K will never equal the amount of sweaters and blankets an elderly person will need to put on to survive this coming winter.

What is truly scary is that this same scenario holds true for many middle class families. People earning decent wages, people with the means to change heating sources now, people working multiple jobs and still in fear of what they will have to do next winter to keep warm. Make no mistake about it, the price of oil is the American peoples enemy and the people controlling that market manipulation in many respects is you and I with our investments for our own retirement. You can look at your statements and shrug your shoulder or move your money out of the people robbing you blind on your oil tank and gas tank. It’s your choice. Money is feeding this frenzy in the price of oil and the gains you get now are not gains when they are taken away ten fold every time you fill your oil tank or gas tank. Investing is a choice and you have the ultimate power to make that choice. It’s your money!

Start knitting your sweaters now for your golden years. If our investments work out as best that we can hope then we just might be able to set the thermostat at sixty degrees. Thus proving that we are far better off than our grandparents. Choose your battle and defend America’s future with your investment dollars wisely.

Papamoka

Over at the Boston Herald they have this great article on the subject...

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Oil Speculation Outcome

Oil market speculators are going to be scrambling for the largest profits they can get from now till the first Tuesday in November. With the outright demand for change from not just one political party candidate for President but BOTH! When it comes to oil speculation then the free for all of the Bush Big Oil dynasty will be over. Or is it?

The so called free market game is up when the King of Saudi Arabia opens the spigot of his oil rich nation and says to the world that it is not a supply problem. It is not a supply problem when only a fraction of oil reserve drilling sites inside the United States have yet to be tapped. It’s not a supply problem when the only voice in the world saying it is a supply problem is coming from President Bush and his administration. If you for one minute think that George W. Bush is not in bed with Big Oil then you deserve to pay $12 a gallon for gasoline and see the cost of every product you need to survive triple.

Over at Market Watch they have the official word on what the price of oil should be and the wink, wink, wink of Congressional investigations into oil speculation.

Gas could fall to $2 if Congress acts, analysts say

Limiting speculation would push prices to fundamental level, lawmakers told

By Rex Nutting & Michael Kitchen, MarketWatch
Last update: 4:24 p.m. EDT June 23, 2008

WASHINGTON (MarketWatch) -- The price of retail gasoline could fall by half, to around $2 a gallon, within 30 days of passage of a law to limit speculation in energy-futures markets, four energy analysts told Congress on Monday.

Testifying to the House Energy and Commerce Committee, Michael Masters of Masters Capital Management said that the price of oil would quickly drop closer to its marginal cost of around $65 to $75 a barrel, about half the current $135.

Fadel Gheit of Oppenheimer & Co., Edward Krapels of Energy Security Analysis and Roger Diwan of PFC Energy Consultants agreed with Masters' assessment at a hearing on proposed legislation to limit speculation in futures markets.

Krapels said that it wouldn't even take 30 days to drive prices lower, as fund managers quickly liquidated their positions in futures markets.

"Record oil prices are inflated by speculation and not justified by market fundamentals," according to Gheit. "Based on supply and demand fundamentals, crude-oil prices should not be above $60 per barrel." - Market Watch

With the current price of oil threatening $140 per barrel then Congress needs to act with or without the President of the current administration. Not doing so is threatening the American and world economy at near collapse levels. Protests are breaking out all over the world because the cost of oil is crippling industries and yet the prices are going higher day after day. Maybe it is time for Americans to get pissed off too when they tank up the old Chevy for the week and it costs three times more than it did eight years ago!

Same article and same message from the Bush crew in bed with Big Oil…

However, other witnesses said that pure speculators have had little impact on energy prices, which have doubled in the past year to about $135 per barrel. Both Treasury Secretary Henry Paulson and Energy Secretary Samuel Bodman have dismissed the impact of speculators on prices paid by consumers.

Speculators now account for about 70% of all benchmark crude trading on the New York Mercantile Exchange, up from 37% in 2000, said Rep. Bart Stupak, D-Mich., chairman of the investigations subcommittee. Stupak introduced a bill on Friday that would limit index speculation. - Market Watch

Both of the candidates running for President are ticked off at the runaway oil speculation markets and it doesn’t matter at this point in our economy who wins if the economic engine of the world collapses under the oil greed and speculation. When, or if the dust settles, there will be no oil giants, no oil speculation, no free markets simply because you can’t feed your children oil! Anarchy is close and it will start with the mothers of American babies saying enough is enough.

This is not a joke my friends, it is a prediction of times to come. Americans love the simple life and when that life is no longer available to them then they react. How they react is up to the actions of a Congress willing to listen.

People are loosing their homes, jobs are being lost, wages and benefits are being cut, and yet oil continues to take more of what the people no longer have and that is a recipe for a disaster that none of us could ever fathom. People can not sit idly by as they see reports of even more grotesque record profits in the tens of billions as they look at the car in the driveway that they can no longer afford to drive simply because the cost of living has outstripped their paycheck.

Dupont today announced staggering price increases across the board just to stay in business. If you don’t know who Dupont is then all you have to do is look at every item in your home and if it looks like your stuff then Dupont had a hand in making it your stuff at the manufacturing level. Some of their customers are increasing prices by 20% simply because they can’t cut costs any further. This is an oil based cycle that is out of control.

Don’t believe me, Google search it and see what you come up with on Dupont Price Increase. Google search protests across the world on the cost of oil hurting economies not as resilient as ours in the United States. Google is the worlds largest search engine and the links you find do not lie.

Now is the time for you in America to start emailing and complaining to your representatives in the Congress to get behind this disaster that is oil pricing. Tell them you are pissed off and do something about it. Numbers in the complaint column will speak louder than these written words ever will when the other end of the phone or email is your Congressional Representative.

Papamoka

Hat tip to Worm Town Taxi

$12 Per Gallon Gas is Cool With Republicans

Not that you need to hear this but every single energy bill in recent years where Big Brother Oil was involved has taken a nose dive in the ring of our nations government. Things that make you go Hmmm?

Current legislation would have imposed heavy taxes on Big Brother Oil if they did not invest the mega profits into alternative energy sources. Oh, and it would have stripped out $17 Billion in tax credits for Big Brother Oil Incorporated in Washington D.C. Republicans in the Senate killed it. There was a small service, no flowers, no formal funeral. Just a bunch of folks from the Senate going “Oh Gee Willickers?”

Over at the New York Times they have this on the Republican Party in the US Senate telling the American People that $17 Billion in US Treasury funds are better spent by Big Brother Oil than you pesky gas guzzling near do wells…

2 Energy Bills, Including Windfall Tax, Stall in Senate

By DAVID STOUT
Published: June 11, 2008

WASHINGTON — A Democratic proposal to impose heavier taxes on big oil companies stalled in the Senate on Tuesday as Republicans and Democrats offered different ideas on how to deal with soaring energy costs.

A bill that would have rolled back some $17 billion in tax breaks on Big Oil and pressured the companies to invest in new energy sources by hitting them with a windfall-profits tax if they did not failed to get enough votes to move forward. Fifty-one senators voted to bring the measure up for consideration, but that was nine short of the number needed under Senate rules. Forty-three senators, most of them Republicans, voted “no.” - New York Times

And people wonder why the Republican Party is looked at as the party of big business and screw the rest of ya?

Is it just me or do all Republicans feel that Exxon/Mobil needs a huge chunk of that $17 Billion in tax credits? Hell Exxon could almost pay for the whole program in one quarters profits! That is clear profit!

Oil profiteering is reaching the point of genocide of our nations commerce. In doing so they are killing the beast that feeds them and that in turn will lead to the days of Teddy Roosevelt where every Big Oil Brother will be and should be broken up into a family of thirty and forty Little Oil’s. History must repeat itself for the greater good of the nation and for that matter the world.

In some respects I understand Hugo Chavez for privatizing his nations oil markets. When one organization thinks it owns the nations government, has that nations commerce by the throat, then government must step in with a heavy hand. Just my opinion. No Commie innuendo’s applicable. It works for New Hampshire with the control of liquor?

Do we need more Republicans in office to protect and defend the rapist’s of our economy. Is rape good and defending the victims in this oil market gone mad bad?

At one point in the price per gallon of gasoline the Oil Market will kill all of our world economy and the ones profiting the most from it will walk away clean as a new born babe. That isn’t just an assumption it is a cold hard fact. Every single product you use as a human being is in some way or form connected to the price of oil. Millionaire Republican’s killed this bill simply because they do not face the reality of someone living in the lower classes. Paying double for heat, double for gas, double for food, double for everything you need to survive is not a priority when you have a million dollars. It’s irrelevant in their minds. Tell that to someone surviving on Social Security! Then it becomes extremely RELEVENT!

The only question to ponder is at what point does the world economy collapse based on the price of oil per barrel? Make no doubt about it, that point is coming very soon. You can almost mark it on your calendar as oil spikes nine and ten dollars a day based on nothing than speculation.

There is something not right with the pricing of oil and I’m just guessing that the multiple billions of profits from all of the oil companies per quarter across the world just might have something to do with it. Excessive oil prices is wiping out the bottom layer of our nations economy. Without the bottom income earners the middle will collapse, without the middle the top will cave. Domino effect and that we can thank the Republican party for. Just for giggles, President Bush was going to Veto this bill if it passed.

In that respect, the meek shall inherit the Earth. It all comes down to oil and economics. One can not live without the other and in that respect any economy can not be hijacked by the price of oil without serious government intervention.

Papamoka

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