Oil prices rise!

[Andy823]

Last week oil was down around $96 dollars a barrel. Friday it shot up with news of the "bailout"! Today it's up to $112, why? Because the "speculators" are at it again! They see the dollar dropping, and know that if the bailout goes through, the dollar will drop even more, making it a good investment once again in oil. These speculators need to be stopped, and in order to do that we need tough regulations on how they trade commodities. If congress does not act on this problem, we will be seeing oil go even higher than the $147 we saw this summer. The whole damn financial markets need to be revised, and regulations need to be put in place to stop the "GREED"! We go from one bubble to another, from one disaster to another, and yet congress and our present administration just sit by and watch.

We need real change in this country! From top to bottom it's a mess thanks to Bush and his agenda to destroy our economy. He has done more damage to this country than Bin Laden could have ever dreamed of. Our country is going down the tubes, and putting McCain in place of Bush will not be a change.

[BridgeTheGap]

1. Repeal the ICE legislation that Gramm got through on a rider in 2000.

That's what's opened us up this shit.

[kurt_cagle]

2. Speculators not only factor

The drop in oil that has occurred over the last three months has been due to the rise of the dollar, with perhaps an average 5% "speculator" premium that tends to fluctuate from -10% to 15%. Admittedly, that's still huge - accounting for perhaps $5-$7 a gallon for oil, but it's not the main factor in $100+ oil. The bailout plan today is highly inflationary - nobody denies that, and it's pushing the dollar down dramatically. As the dollar goes down, oil goes up. I expect we'll be back above $125 a barrel by the end of the week.