[OctaneZ28]

http://www.fquick.com/blog/Gas_could_fall_to_$2_if_Congress_acts_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.

 

[Dragoneye]

 

[OctaneZ28]

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/sto...C102-68E0-41D9-9C9A-10EE2E723948}&dist=msr_10

Lawmakers want to strip energy's 'vail of secrecy', boost CTFC:
http://www.marketwatch.com/News/Sto...x?guid={7AFF8F13-BF4A-4D16-A067-3C0B9D5CB2DA}

 

[LT16SPEED]

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/sto...C102-68E0-41D9-9C9A-10EE2E723948}&dist=msr_10

Lawmakers want to strip energy's 'vail of secrecy', boost CTFC:
http://www.marketwatch.com/News/Sto...x?guid={7AFF8F13-BF4A-4D16-A067-3C0B9D5CB2DA}

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?:BangHead:

 

[Dragoneye]

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/sto...C102-68E0-41D9-9C9A-10EE2E723948}&dist=msr_10

Lawmakers want to strip energy's 'vail of secrecy', boost CTFC:
http://www.marketwatch.com/News/Sto...x?guid={7AFF8F13-BF4A-4D16-A067-3C0B9D5CB2DA}

How come this is the first time I've heard of these...dang! They better push this through!!

 

[OctaneZ28]

Well, the media doesn't report good news, so I'm surprised this is out at all lol.

 

[Jak]

:thumbsup::thumbsup: 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

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?:BangHead:

 

[Devryn]

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.

 

[USA1Camaro]

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.

 

[CUONCRS]

I've lost all confidence in our gov't that they will ever do something like this right. It's really sad.

 

[DonDon]

What about the speculators in the rest of the world. A barrell of oil costs everyone the same not just the US.

I caught a little talk about this on the radio & the "economic experts" they had on said this stuff will raise the cost of oil.

I don't know who to believe any more especially when it's some politician saying "I'm doing this for your benefit".

 

[Devryn]

The best way to lower the cost of oil and gasoline is to strengthen the dollar. This would require the fed to raise interest rates and stop printing worthless money.

I think that interest rates are probably the best idea. More people won't see the "cost" of raising the interest rate, plus the value of their dollar will go up.

 

[[email protected]]

I thought this was internet foo foo when I first heard it but earlier today I caught CSPAN and this senator was talking about how in the year 2000 these senators pushed through a bill just before Xmas and it was kind of like ENRON, where energy futures could be unregulated! It went through and voilla, that got us where we are today. These Senators want to regulate energy futures (speculation) so that those who speculate, have to actually use the Oil they are speculating on!!! Interesting math for sure!

 

[KWarner04]

For anyone interested in reading more about the speculators and their involvement in the commodities market, check out this article:

LINK

 

[KWarner04]

And most economist seem to think this would not cause the prices to drop as dramatically as mentioned. Some seem to think this will have no impact while others think the price of oil will drop to the $80 - $100 range. This would put gas somewhere in the 2.50 - 3.00 range would be my guess.

 

[brantley847]

I've lost all confidence in our gov't that they will ever do something like this right. It's really sad.

Amen, and my hatred for politics will flare up here in the next few months as in prior terms. They will use this 2 dollar bill as a bargaining tool to retrieve the swing voters and we will see it dwindle once election has completed..

 

[Z28 Autobot]

The best way to lower the cost of oil and gasoline is to strengthen the dollar. This would require the fed to raise interest rates and stop printing worthless money.

I think that interest rates are probably the best idea. More people won't see the "cost" of raising the interest rate, plus the value of their dollar will go up.

amazing that someone not in high office gets it yet our ellected officials dont..WOW..

 

[Z28 Autobot]

Amen, and my hatred for politics will flare up here in the next few months as in prior terms. They will use this 2 dollar bill as a bargaining tool to retrieve the swing voters and we will see it dwindle once election has completed..

yup..get used to it..gas is not going down..with the people we have in office..

http://www.kickthemallout.com/ atriot:

 

[CUONCRS]

I soooo wish that we could kick out Congress and start over. But no way that's gonna happen. They are too far in the pockets of power.

Anyone see Jessie Ventura on Leno the other night (repeat, but I missed it the first time).

http://www.youtube.com/watch?v=ctFQtkj7QYk