What really gets me going is when you've got these total idiots saying the economy won't be effected until oil hits 140 a barrel.
Warren Buffet was on CNBC last week and he said said the price of oil going up will have no effect on consumers buying clothing or coca cola. Boy, I'm not even a billion dollar investor and I know that is completely wrong!
Toward the end of the trading session one day last week I sat and watched the price of oil jump 4 dollars. I was trying to figure out why because there was no news at the time. The lady on CNBC said it was the Electronic trading. Basically the robot trading programs will keep going the same direction the market went all day.
Look, You can sit online all day and read ideas about why Oil is so high right now. I don't know about anybody else. But I am more convinced now then ever that all this is, is speculation. Frankly, I am really getting tired of people saying "Green energy!!" "Stop driving!" "End our dependence on oil!"
90% of the people saying that are academics. The closest thing to real life experience in their life is asking for a #1 at Mcdonalds.
Bankrupting an entire nation through high oil prices isn't going to bring in "Green" energy. How are people gonna afford electric cars or the power to fuel their homes when there is no more money left because of high energy?
People can demand Oil companies to be called to talk to Congressional panels all day. They don't set the price of oil. All that is, is a dog and pony show.........
I would bet that if that total idiot as a president gets on TV tomorrow and says He's starting the process to take Oil off the trading market. It'll drop like a rock. I will also bet you that 6 months from now we won't have an oil shortage............