Cenk Uygur explains why speculators lead to a higher price for oil. Subscribe: bit.ly TYT Mobile: bit.ly On Facebook: www.facebook.com On Twitter: twitter.com www.theyoungturks.com FREE Movies(!): www.netflix.com Read Ana’s blog and subscribe at: www.examiner.com Read Cenk’s Blog: www.huffingtonpost.com
GOP RICH DO NOT WANT TO PAY FOR THEIR IRAQ OIL WAR !!!
Ive made 30k a year for the last 4 years,the last 4 years the feds rapid/rabbid inflation has made 1 doller i make now less than a doller i made last year, do you know what that means? I get the same number of dollars that are worth less. That is why the middle class is disapearing you dumb fuck quit blaming wallstreet for the problems that are caused by dumb mother fucking politicans whos main goals arent doing whats right for america but doing whats gonna fuck the other side in elections
If ur explanation for skyrocketing gas prices does include the fed and rapid inflation then u are an idiot who dosnt know waht ur talking about. Feds printing money like crazy over the last year, and guess what gas prices have skyrocketed in the last year. Quit the class warfare by blaming wallstreet for something that is 100% the fault of the federal reserve. If u say u are for the working man then dont stand on the sidelines and watch the fed fuck the middle and lower class you fukin douchebag
@OtakuRebel “I rent from my mom you ass =” – Why so rude?
@CmdrTobs I rent from my mom you ass =
It’s straight up mortgage, taxes, repairs, and public services costs.
It says more about the shitty deals banks deal out for mortgages than anything.
“The rent is too damn high!”
Though just that for a non renewable resource is understandable. It also makes a statement that the power companies don’t care about you saving money by providing cheap, renewable green energy. Someone seriously needs to step up to these guys with some new generator technology.
@Bellita1 “The Oil Industry invests in green technology and ways to make energy cleaner” only late in the day when oil is in it’s twilight years and they know they won’t have a business in 20yrs unless they reinvent themselves.
Also it’s ironic too, they bear a lot of responsibility for sending us down this path of sprawling cities and the destruction of rail and trams and any electric forms of transport.
@waltermh111 If we talk about wind and solar it’s still a little up in the air. Industrial wind turbines are essentially aerospace product with huge fossil fuel energy requirements for construction and maintenance. Compare this to a lump of concrete coal powerstation and coal starts to look greener than most people think.
Solar is better but again the high cost per MW I think masks massive fossil fuel input. I crudely estimate overall we can’t globally beat 70/30 nuclear/renewable
@Bellita1 Natural Gas is cleaner, (i.e none of the particulates and pollutants of coal and oil) but the evacuation process is still destructive. Not to mention natural is linked to oil in price and is subject to the same shortages.
Also if we are to behave sensibly we have to realise natural gas is too valuable to burn generating electricity. Such a light and clean fuel makes far better use for efficient domestic heating and as chemical building block for pharmaceuticals and other chemicals.
@OtakuRebel The capitalist markets are giving us a reality check. There is a strong argument to be made that oil and thus Gas should cost more than rent.
You’re landlord likely does no productive work for the rent he charges, he produces no material durability. Effectively he garnishes your wages as a ‘Ricardian’ renter. Meanwhile we consider it a norm to pay <10% of rent for a one time non-renewable vital resource.
In the 3rd world oil is more than rent, probably closer to the truth.
@kingofusers That’s the conventional wisdom of the inflation boogey man also part of the Gold pump and dump scam. Gold VS oil graphs only underly the bubble in Gold (a low demand commodity). When you look at the cost of manufactured goods(more valid) over 20years vs oil it’s the opposite. We likely have had to brew up much of the money just to service the costs of commodities that are under pressure.
The truth of the matter is speculators recognize the obvious truth of MK Hubbards peak.
@OtakuRebel at this rate a loaf of bread will be a rent check.
This is money-printing inflation and real shortages of food + oil.
You’re going to see millions starve perhaps daily.
This is just the beginning. If you don’t have land, water, gold and silver, you are out of the game. Extinct.
This is beyond regulation: you need those resources + guns or you are eliminated. Period.
@waltermh111 Natural Gas and Nuclear are not green energies. Natural Gas is cleaner than oil and Nuclear is very clean except for the waste. I support both of these and I support Green energy. I love Green energy. But I am not naive enough to think green energy in it’s current form can create most of the energy our country or world demands.
Drilling will not lower oil prices but it will contribute to the supply which may help them not increase.
@Bellita1 Therefore Bush gets some blame, but also, the speculative issues have risen and made things worse, causing new problems which Obama could only do something about with regulation. I blame him for not regulating.
But people do blame Obama for high gas prices. Just search on google.
nationalreview . com/corner/267928/report-finds-obama-policies-blame-high-energy-prices-andrew-stiles
Heres a start, you feel better now?
Interesting
factcheck . org/2011/03/is-obama-to-blame-for-4-gasoline/
@Bellita1 msnbc.msn . com/id/25287795/ns/business-answer_desk/t/will-offshore-drilling-lower-oil-prices/
bnet . com/blog/business-myths/why-domestic-drilling-won-8217t-lower-your-gas-prices/538
While drilling wont lower prices, i am actually for higher gas prices.
Often people need a push for a better life.
Theres many hidden costs to oil which people dont care to see because, well, its hidden. If its not in your face, you dont care.
Bush caused wars in 2 countries which affected prices.
@Bellita1 Nobody but you is saying that green energy is the only energy we need.
We have natural gas and nuclear.
But yes, green energy can create most of the energy we need. That is a fact.
We are there, we just dont put the money into it.
And the oil industry does invest a little in green energy, but thats not what we give them money for so whats your point with that line? Most of that is only to make them look good on PR anyway.
Last, drilling will not lower oil prices.
@keenth7 We are talking about Obama raising the price of gas to $4.00 per gallon, not the war in the middle east. Why did Obama raise the price of gas?
@OtakuRebel f*** yeah . they need to control things like before.i understand things ALWAYS slip out.just like the police and crime. crime is always around but at least u can CONTROL THE OBSERD LEVEL OF VIOLENCE.XDDD or in this case obserd level of corporate corruption. yes, relying on these mother****** will just lead us to our grave…a hole in the ground.
@Bellita1 no. he dosent.forget the fucken gas retard. the war was uncalled for and not needed.obama took care of it the way it was supposed to.when a criminal makes a move,u dont send a mod of cops to search every house of the town where the suspect is SUPPOSIVELY at…what u ACTUALLY do is investigate and aim well like a sharpshooter. enough said. TRILLIONS lost for his personal bs.yes.no appoligy for him.
@waltermh111 The Oil Industry invests in green technology and ways to make energy cleaner. You can HATE Oil all you want but the fact is green energy can’t sustain our energy needs. I am all for reasearch and development but we aren’t there. If you are against drilling, then you are for higher energy prices. Also, Bush was directly blamed for the price of gas. Why isn’t Obama? Does Bush deserve an appoligy?
@Bellita1 Bush was in the oil industry and he brought us into Iraq.
While Obama is pressed on Afghanistan, theres just not the oil there. We blame him for feeding the military industrial complex there.
He has no relation to them and is pushing green more aggressively, or was til the oil lease expansion, but hes still also the one who put cutting the oil company tax incentives/breaks on the table.
hes not done nearly enough to bring the hate yet, though people are mad about more drill leasing.
@Ablativearmour Demand has increased, however, it is a fact that supplies are meeting demand. It is also a fact that as the dollar goes down in value oil goes up to maintain its worth. Saying gold is irrelevant is not an argument. Use gold or any other commodity and you will see the same trend as oil, simply because the dollar’s value went to half in the 2000s alone. Right now everything is going up in price, and not only because of demand, but because of a weakening dollar.
It’s time to take it to the streets like the 1960s!
Oil is all politics, not business. It needs to be regulated like our utilities are…
@kingofusers Through all that you do not pay any notice to exponential demand. China grows oil consumption at 14-28% when GDP grows at 7-9%.That’s a doubling of consumption every 2- 5 yrs. China has gone from using less oil than an American city to using more than 1/2 as much as America in a few years. Similar pattern for Indonesia, India etc….You are deluding yourself and ignoring geologists if you think this is a purely monetary phenomenon.
Gold price is an irrelevance.
In Norway, gas is $12 per gallon. And we export 90 % of our oil.