Gas could fall to $2 if Congress acts on bill - ModernCamaro.com - 5th Generation Camaro Enthusiasts
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post #1 of 19 Old 06-24-2008, 11:02 AM Thread Starter
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Gas could fall to $2 if Congress acts on bill

http://www.fquick.com/blog/Gas_could...s_on_bill/1913

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.

Record oil prices are inflated by speculation and not justified by market fundamentals... based on supply and demand fundamentals, crude-oil prices should not be above $60 per barrel.

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post #2 of 19 Old 06-24-2008, 11:40 AM
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post #3 of 19 Old 06-24-2008, 11:50 AM Thread Starter
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What's amazing to me is that the introduction of these bills was actually bipartisan.

Gas could fall to $2 if Congress acts, analysts say:
http://www.marketwatch.com/news/stor...7D&dist=msr_10

Lawmakers want to strip energy's 'vail of secrecy', boost CTFC:
http://www.marketwatch.com/News/Stor...C0B9D5CB2DA%7D

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post #4 of 19 Old 06-24-2008, 12:14 PM
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Quote:
Originally Posted by OctaneZ28 View Post
What's amazing to me is that the introduction of these bills was actually bipartisan.

Gas could fall to $2 if Congress acts, analysts say:
http://www.marketwatch.com/news/stor...7D&dist=msr_10

Lawmakers want to strip energy's 'vail of secrecy', boost CTFC:
http://www.marketwatch.com/News/Stor...C0B9D5CB2DA%7D
Bipartisan? Since when did the liberals ever want affordable oil? Barack Obama was asked about the over-inflated cost of oil, and he said he would have preferred a "gradual" increase. He doesn't have to worry about the cost of oil, he's a limosine liberal. The rest of us are getting screwed, but he could care less. As far as he's concerned, "global warming" is more important than our economy and the cost of living associated with skyrocketing oil costs. Obama thinks oil is the evil root of "global warming", and should be phased out as soon as possible, regardless if we have any immediate alternative. Is there ANY common sense left in this world?

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post #5 of 19 Old 06-24-2008, 12:24 PM
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Quote:
Originally Posted by OctaneZ28 View Post
What's amazing to me is that the introduction of these bills was actually bipartisan.

Gas could fall to $2 if Congress acts, analysts say:
http://www.marketwatch.com/news/stor...7D&dist=msr_10

Lawmakers want to strip energy's 'vail of secrecy', boost CTFC:
http://www.marketwatch.com/News/Stor...C0B9D5CB2DA%7D
How come this is the first time I've heard of these...dang! They better push this through!!

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post #6 of 19 Old 06-24-2008, 12:29 PM Thread Starter
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Well, the media doesn't report good news, so I'm surprised this is out at all lol.

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post #7 of 19 Old 06-24-2008, 12:32 PM
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Well said.
I see McCain's finally starting to catch on with wanting to build 45 Nuke Power plants if he's elected. Read someplace that France gets about 80% of their power from nukes, here in the US it's the other way around not sure of the break down, but our power comes from Coal, Oil, Natural gas, Hydro and a few nukes. As for the Nuke waste, they have I think they're called Breeder Reactors that burn the waste down even further.
I say go ape (Blank) on drilling. It'll give this country an economic boom it hasn't seen in ages. Once we get that oil on line then put billions into research for alt fuels




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Originally Posted by LT16SPEED View Post
Bipartisan? Since when did the liberals ever want affordable oil? Barack Obama was asked about the over-inflated cost of oil, and he said he would have preferred a "gradual" increase. He doesn't have to worry about the cost of oil, he's a limosine liberal. The rest of us are getting screwed, but he could care less. As far as he's concerned, "global warming" is more important than our economy and the cost of living associated with skyrocketing oil costs. Obama thinks oil is the evil root of "global warming", and should be phased out as soon as possible, regardless if we have any immediate alternative. Is there ANY common sense left in this world?
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post #8 of 19 Old 06-24-2008, 12:58 PM
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I don't see a gas price or oil futures price drop, at least quickly, if this bill is enacted. It addresses future "speculation" but doesn't address the prices that are currently out there. If anything, it'll be harder for speculation to lead to a decline in oil futures.
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post #9 of 19 Old 06-24-2008, 01:55 PM
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They should give it a try and see what happens. If it pulls the rug out from under those that ran the price up, it's a bonus.

Let's hope the members of Congress don't try to attach a couple thousand pork measures along the way and stall it.
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post #10 of 19 Old 06-24-2008, 02:47 PM
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I've lost all confidence in our gov't that they will ever do something like this right. It's really sad.

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