After investing in high-tech stocks and real estate loans for years, legions of speculators have now discovered commodities like oil and gas, wheat and rice. Their huge investments are pushing prices up to unprecedented levels -- with serious consequences for ordinary people's quality of life and the global economy.
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Showing posts with label Oil. Show all posts
Showing posts with label Oil. Show all posts
Saturday, June 14, 2008
How Speculators Are Causing the Cost of Living to Skyrocket
Why Oil Price Is High - Fed Printed Way Too Many Dollars
The two biggest factors in oil’s high price are the weakness in the U.S. dollar’s exchange value and the liquidity that the Federal Reserve is pumping out. In an effort to forestall a serious recession and further crises in derivative instruments, the Federal Reserve is pouring out liquidity that is financing speculation in oil futures contracts.
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CNN: Get Used To High Prices.
The Fed has a mandate to keep inflation in check. But global forces and worries about the U.S. economy will keep prices high for the foreseeable future.
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Friday, June 13, 2008
Oil and Food Push Consumer Prices Higher in May
Inflation hit hard in May as prices for a wide swath of consumer goods rose at their fastest pace since November, underscoring warnings from central bankers and adding to a growing consensus that the Federal Reserve could raise interest rates by the end of the year.
The Consumer Price Index, which measures prices of a batch of common household products, rose 0.6 percent last month, with much of the increase coming from high fuel costs. The nationwide average for gasoline topped $4 a gallon last weekend as the price of oil reached record levels.
Sphere: Related ContentFriday, June 06, 2008
Oil Prices Skyrocket, Taking Biggest Jump Ever
Oil prices had their biggest-ever jump on Friday, after a senior Israeli politician raised the specter of an attack on Iran and the dollar fell against the euro.
The gains on Friday capped a second day of strong gains on energy markets, and fueled suspicions that commodities might be caught in a speculative bubble.
OK, so heres my damn opinion of this mess. These damn people have us by the balls and they know it. Gas is something that we all need to get around for transportation. The rising cost of gas is affecting every aspect of our lives today. From prices in Food, to the Interest rates you are getting from the banks, to the Housing industry being in a slump. When people can barely afford to pay for the gas they need and the food they need to put on the table what is this damn world coming to. Congress needs to get off their ass and do something now, instead of letting these damn people rape us. Ok, enough of my rant. Thanks for hearing me.
Monday, April 28, 2008
Experts: We're 10 Years Away from Lowering Gas Prices
Energy experts have dismissed the candidates' plans for lowering gas prices, and say it'll be a decade before we can exert downward pressure on the price of gas.
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Where is your gas money going?
Another day, another high. The average price for gasoline on Long Island is at a record-setting $3.791 a gallon for regular, says the AAA. And diesel? Fuhgeddaboutit: It averaged $4.648 a gallon. But where is all that cash going?
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Thursday, April 24, 2008
The collapse of the United States is accelerating: Oil in Euros vs. US dollars
In the last eight years implementing the plans for the Project for the New American Century (PNAC) designed "to promote American global leadership" has backfired.
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Wednesday, April 23, 2008
The Fortune 500's biggest winners
It's no surprise that an oil company leads the list of 2007's top profit-makers.
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Tuesday, April 22, 2008
Economics 101: The Price of Gas
Gas prices are up and oil executives are once again testifying before Congress. Clearly, many politicians, pundits, and consumers lament the rising cost of gas. Before we join them in their chorus, let us take a step back and ask this question: Are gas prices really all that high?
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Tuesday, April 15, 2008
World food prices hit record levels.
Grain prices are up %120. The UN has decided that it needs $500million (1/200th annual cost of Iraq war) to assist the worlds starving poor. Us donates $10 million. Too bad people can't eat bombs or bullets!
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