Blaming high gas prices on speculators is like blaming traffic accidents on steering wheels. Speculators don't define energy policy. They don't set the regulation. They don't set drilling moratoriums or ban pipelines. They don't project an image of weakness for our unreliable allies and unpredictable foes in the energy producing parts of the world. All speculators do is take the market where the driver of those things tells them to.
The smart way to handle speculators is to make them work for you rather than against you. If Team Obama would simply adopt policies which would really lead to lower gas prices, speculators would be more than happy to react to that by driving prices down. It's happened with natural gas, and it could happen with oil too.
But instead, he adopts policies which make his enviro-nut supporters happy. He throws wasted tax payer dollars at the green energy boondoggles that are supported by his contributors. He pretends that he knows better than the market which technologies will win and which will lose - as if the only people who REALLY understand the energy market work in government.
Speculators see all that, and react to it. But they're agnostic. They would be happy to send prices lower if Obama would simply give them a reason to. But Barry don't play that. That's not how Barry rolls. He'd rather keep the decision making where it will do him the most good, instead of letting that power go to the people who have to buy gasoline.
Fair enough. But be a man and live with the consequences of that. Don't blame the car for running off the road into a ditch. The car is working fine. The sad truth is, you just don't know how to drive it.
5 comments:
i fear where the price of fuel / food and gold will be if BHO is re-elected.
In a manner similar to Latin American and Sub-saharan marxists, the "speculators" are the unnamed shadowy villains that a confiscatory government requires as an excuse to craft a suffocating drag-net of legislation as a means to placate those that ascribe to the fantasy.
During the NEP period of the first Soviet, Lenin would blame the economic troubles on the grain-hoarding "kulacks" and the NEP-Men. The villains analyzed the rules presented by the government and exploited the gaps. The solution was not to implement a policy based on harnessing speculative direction; the solution was the gulags.
Hitler & Mussolini also blamed unseen and unamed speculators as a means to confiscate for the common good. For Hotler it was not only Jews and Foreigners or non-germanic people, but Plutocrats that were in control at every level of society. Obviously, this meant anyone that dared express a different opinion or argue a point of law in public.
We're fooked!
Ikaika:
It never ceases to amaze me how many people actually believe what you have illustrated. Liberty is a very fragile construct with so many people willing to throw it away.
OFFTOPIC:
I have been reading about an uptick in employment and lending. What are your thoughts on the possibility of entering a growth-inflation-recession pattern as all the dollars created by the Fed start entering the market?
we are TOAST. not if but when..if we went back to clinton era interest rates the interest alone on our debt will increase by 500 billion a yr...so any(if) deficit reduction is done it goes poof with upticks in rates...weve been ?lucky to be the safe haven for the world... but it has lauled our politicians into a false sense of security.our day of reckoning is coming.. as to inflation i think we have to see some increase in the velocity of money.. still alot of slack right now...
Gold. Gold. Gold. Any maybe a Jim Rogers-type change of address. And guns.
It's not the point to sit on buckets of Gold or Bullets etc...
its identifying where the historic trend takes you.
Another 4 years of Obama brings full circle the final ideological attack on free market economic and individual liberty. a coda demonstrated by Supreme Court and Federal Court appointees that will legislate from the bench for life.
That is the truly nauseating nuclear option.
You can have a republican majority in congress and this guy will still appoint "che gueverra" to a federal bench.
Gold will get confiscated either through taxation or some other emergency confiscatory policy.
It will be identified as another resource perverted by unnamed speculators.
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