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  • #31
    Re: Giant in the Supermarket

    Here is my beef, back when crude oil was $100 a barrel, we were crying about fuel hitting $2 a gallon. Crude is still $100 a barrel but now we get excited when we see fuel drop to $4. When crude hits $50 we get a .20 cent break? I tell ya, we are all in the wrong buisness.
    Last edited by masterbeavis; 04-15-2012, 12:23 PM.
    We don't have preventative maintenance around here, we have CRISIS MANAGEMENT!

    Comment


    • #32
      Re: Giant in the Supermarket

      I consider oil as a commodity essential to our economic stability. I feel it should be exempt or excluded from futures trading, not sure if or how that could be done? I'm all for giving big oil tax credits for exploration and refinement if that keeps the industry strong and growing.
      I just don't think our economy can sustain these high prices, and if more individuals and businesses fail was all the trading on oil really worth it?

      Comment


      • #33
        Re: Giant in the Supermarket

        It's not just oil Frankie, they speculate on everything, but the price of oil affects everything that has to be transported.


        Commodity Futures Charts & Futures Quotes Menu

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        • #34
          Re: Giant in the Supermarket

          Originally posted by killavolt View Post
          It's not just oil Frankie, they speculate on everything, but the price of oil affects everything that has to be transported.


          Commodity Futures Charts & Futures Quotes Menu

          Intraday futures charts are updated continuously during trading hours; daily commodity/futures charts are updated every market day; weekly charts are updated at the end of each week; monthly charts are updated at the end of each month.

          'e' indicates electronic session; 'p' indicates pit session; CoT links to Commitment of Traders charts
          CURRENCY FUTURES
          POPULAR MARKETS ONLY.
          British Pound (gbx) (cme)
          Canadian Dollar (gbx) (cme)
          Euro (gbx) (cme)
          Japanese Yen (gbx) (cme)
          New Zealand Dollar (gbx) (cme)
          ---
          Swiss Franc (gbx) (cme)
          US Dollar Index (ice [nybot])
          ENERGY / OIL FUTURES
          POPULAR MARKETS ONLY.
          Heating Oil (gbx) (nymex)
          Light Crude Oil (nymex) e
          Natural Gas (gbx) (nymex)
          NYH RBOB Gasoline (gbx) (nymex)
          GRAINS, CEREAL / OILSEED

          Alberta Barley (ice [wce])
          ---
          Barley (ice [wce])
          ---
          Canola (ice [wce])
          ---
          Corn (cbot)
          Corn (gbx) (cbot)
          Durum Wheat (ice [wce])
          ---
          Hard Red Spring Wheat (mge)
          Milling Wheat (ice [wce])
          ---
          Oats (gbx) (cbot)
          ---
          Soybean Meal (gbx) (cbot)
          Soybean Oil (gbx) (cbot)
          ---
          Soybeans (cbot)
          Soybeans (gbx) (cbot)
          Wheat (gbx) (cbot)
          ---
          Wheat (Kansas) (kcbt) e Quote Chart Hist CoT
          INDEX FUTURES

          Dow Jones E-mini ($5) (gbx) (cbot)
          Nasdaq 100 (cme) p
          Nasdaq 100 (gbx) (cme)
          Nasdaq 100 E-mini (cme)
          S&P 500 (cme) p
          S&P 500 E-mini (cme)
          INTEREST / FINANCIAL FUTURES

          2 Year Treasury Note (gbx) (cbot)
          30 Day Fed Funds (gbx) (cbot)
          ---
          30 Year T-Bond (gbx) (cbot)
          ---
          Eurodollar (gbx) (cme)
          Ten Year T-Note (gbx) (cbot)
          ---
          Treasury Notes 5 Year (gbx) (cbot)
          METALS FUTURES

          Copper High Grade (gbx) (comex)
          ---
          Gold (gbx) (comex)
          Palladium (gbx) (nymex)
          Platinum (gbx) (nymex)
          Silver (gbx) (comex)
          Silver NY Mini (cbot)
          ---
          MEATS, CATTLE / PORK

          Feeder Cattle (gbx) (cme)
          Frozen Pork Bellies (cme)
          Lean Hogs (gbx) (cme)
          Live Cattle (gbx) (cme)
          ---
          SOFTS, FOOD AND FIBER

          Cocoa (ice [nybot])
          Coffee (ice [nybot])
          Cotton #2 (ice [nybot])
          Lumber (cme)
          Orange Juice (ice [nybot])
          Sugar #11 (ice [nybot])
          STOCK MARKET STATISTICS
          Amex 10 Most Active
          Amex 10 Most Active
          COMMODITY & STOCK INDEXES
          CRB Index Chart
          Dow Jones Industrial Average
          NASDAQ Composite Index
          Russell 2000 Index
          S&P 500 Index
          Toronto S&P 60
          S & P INDUSTRY GROUPS
          ASE Index
          Dow Jones Industrials
          Dow Jones Utilities Chart
          Dow Jones Composite
          NYSE Index
          Marketplace
          I understand and agree that oil futures are just one of many commodities, but unlike coffee or soybeans, our economy hinges on a affordable price for oil products. I think everyone here is on board with the need to reduce and stabilize oil pricing, but if that does not happen then what? I thought we were pretty much doomed with unemployment, the trade deficit, national deficit and so on. I did not see the runup on oil pricing outpacing those other serious problems. I know our legislators are mostly wealthy people with their own agenda, but don't they consider this deserving of their attention? If the trucks stop rolling, people can't afford to drive and buy food, will the profits made on trading oil be worth the disasterous results? I don't think so.

          Comment


          • #35
            Re: Giant in the Supermarket

            Is this not the effect you get from the federal reserve bank printing money? The hidden inflation tax?

            Comment


            • #36
              Re: Giant in the Supermarket

              Speculation (and munipulation) is what drives up the gas prices, and as Franki says, the price of oil effects almost everything else.

              I worked in an idustry that was a member of the American Petroleum Institute and for a while was a subsidiary of Halliburton. The manipulation and back-door dealing that goes on is grossly ridiculous. There is no accountability to the government and in fact, much of the Republican party is in the back pocket of the oil industry. Exxon Mobile is really almost "above the law", and their influence in Congress is well beyond the comprehension of the average citizen.

              I've pointed out several times, that all you have to do is look at the gas prices in the year leading up to a Presidential election.... it is definitely in favor of the Republican Party and their masters in the Petro-Chem industry. This is not a matter of coincidence, it is a matter of manipulation.

              Exxon's influence on the Global Warming issue and the tax subsidies that are supporting them is unbelieveable and is full of deceit on the American public. If you don't believe this, all you have to do is look at the record profits, the foreign policy decisions, the evironmental enfringements, the liability cases that they have managed to not only put off, but have tremendously downgraded by judges who they have bought off in one way or another. The history is very long, very shameful, and clearly shows tremendous bias on behalf of the government in favor of the oil industry.

              But, just ask why we should give corporate welfare to any company who continues to show record profits from the overpricing of a major and strategic commodity, that kills the growth of our economy and the well-being of the average family budget? I heard the other day that Exxon Mobile's "economy" is almost as big in itself as that of the U.S. as a whole. They have absolutely no sense of loyalty to either the country or it's people. And yet, they demand and we give, not only sizeable subsidies, but also now (thanks to the "Citizens United" Supreme Court decision) more enfluence in the national vote than any group of common citizens.

              CWS

              Comment


              • #37
                Re: Giant in the Supermarket

                Originally posted by CWSmith View Post
                Speculation (and munipulation) is what drives up the gas prices, and as Franki says, the price of oil effects almost everything else.

                I worked in an idustry that was a member of the American Petroleum Institute and for a while was a subsidiary of Halliburton. The manipulation and back-door dealing that goes on is grossly ridiculous. There is no accountability to the government and in fact, much of the Republican party is in the back pocket of the oil industry. Exxon Mobile is really almost "above the law", and their influence in Congress is well beyond the comprehension of the average citizen.

                I've pointed out several times, that all you have to do is look at the gas prices in the year leading up to a Presidential election.... it is definitely in favor of the Republican Party and their masters in the Petro-Chem industry. This is not a matter of coincidence, it is a matter of manipulation.

                Exxon's influence on the Global Warming issue and the tax subsidies that are supporting them is unbelieveable and is full of deceit on the American public. If you don't believe this, all you have to do is look at the record profits, the foreign policy decisions, the evironmental enfringements, the liability cases that they have managed to not only put off, but have tremendously downgraded by judges who they have bought off in one way or another. The history is very long, very shameful, and clearly shows tremendous bias on behalf of the government in favor of the oil industry.

                But, just ask why we should give corporate welfare to any company who continues to show record profits from the overpricing of a major and strategic commodity, that kills the growth of our economy and the well-being of the average family budget? I heard the other day that Exxon Mobile's "economy" is almost as big in itself as that of the U.S. as a whole. They have absolutely no sense of loyalty to either the country or it's people. And yet, they demand and we give, not only sizeable subsidies, but also now (thanks to the "Citizens United" Supreme Court decision) more enfluence in the national vote than any group of common citizens.

                CWS
                CWS, I both believe, and agree with your post but how do we move forward to a stable and strong economy? Big oil has control over their commodity and our economy, and I see no viable alternatives. Would you agree that most drivers cannot afford electric cars or conversions to alternative fuels such as natural gas? We don't have the infrastructure to support either of those alternatives if there was a rush or sudden demand for them. How can President Obama, and his advisors responsibly pick now and as a wise time to have gasoline and other oil products increase in price? I know there are those who would say is it ever a good time to break from fossil fuel, but in my opinion it could not be worse time.

                One the one hand we have big oil controlling the price of this essential commodity, and manipulating republicans like puppets. On the other hand we have democrats willing to drive the final nails in the coffin of our economy by doing everything in their power to keep oil prices high, in order to push their agenda. What chance do we the taxpaying consumers have?

                There are milions of families with no work, no income, on the verge of being homeless. There are millions more like myself trying to keep above the rising waters, who cannot afford alternate fuels, conversions or new cars. We need gasoline to be around $1.00 a gallon to really stimulate the economy by allowing folks to drive and seek work and drive to purchase goods and conduct business. We need heating oil to be around $1.00 a gallon so consumers can stimulate the economy with their money instead of enriching big oil. I hate to repeat myself but I am positive we are sunk and just don't know it! Frank

                Comment


                • #38
                  Re: Giant in the Supermarket

                  It's funny that Exxon-Mobil should be brought up, what with the recent publication of Private Empire, by Steve Coll.
                  http://www.nytimes.com/2012/04/27/bo...pagewanted=all
                  Pretty much everything CWS said about them is corroborated by this book.

                  Comment


                  • #39
                    Re: Giant in the Supermarket

                    I'm surprised mention hasn't been made to growing your own food. Here's a few pictures I just took of my garden. Right now I've got so much lettuce I'm giving it to the neighbors. Snow peas (second crop) soon as well as potatoes. Soon there'll be beans, squash, tomatoes (the three sisters), peppers and melons. No corn because the squirrels like it more than I do. Compost cookin in the back corner. My wife calls it my therapy patch.
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