Gas could fall to $2 if Congress acts, analysts say »
Posted by: Aidenag 2 months, 2 weeks ago217 Comments Report this Story
The price of retail gasoline could fall by half, to around $2 a gallon, within 30 days of passage of a law to limit speculation in energy-futures markets, four energy analysts told Congress on Monday.
Read Full Story at marketwatch.com
Join the Discussion 
+ Add Comment
Comments So Far: 217
-

Spadecaller2 months, 2 weeks ago
FTA:
"Record oil prices are inflated by speculation and not justified by market fundamentals," according to Gheit. "Based on supply and demand fundamentals, crude-oil prices should not be above $60 per barrel."
I couldn't agree more. The top 1% of the wealthiest people in America own nearly 98 % of all the stock in energy companies. Among those are also people like Bush and Cheney who earn money directly from the increased revenues from currently inflated prices. Having speculators drive the cost beyond its justified market values is the result of insiders and greed. It's about time that Americans wake up and put an end to this grand rip-off.
Reply-

libsRfunny2 months, 2 weeks ago
If you are going to attack Bush and Cheney, don't forget to lump in liberal darling Al Gore, who's made millions off Occidental Petroleum and brokered a sweetheart deal for same company to drill on federal land while he was VP.
You also might want to consider the millions of middle class Americans who have portions of their 401Ks invested in energy companies.
I seriously doubt your "top 1 percent" claim is true.
Reply-

mdual2 months, 2 weeks ago
Exploring our own resources and I'm including green ones (wind and solar) as well as drilling for our own oil will bring down prices.
Brazil had better insight and woke up after the opec embargo of the seventies, it's unbelievable we didn't.
Iceland turned it's economy around in 10 years and now produces all of it's own energy. France, Norway etc..etc.. they all drill for their own oil and have green and nuclear sources as well. They're also not beholding to the Saudi's and I'd love to see that here.
No way you can tell me it won't work here (unless of course whatever idiot occupies the White House this time around screws it up).
Reply -

MRCOFFEECAKE2 months, 2 weeks ago
-
-

DropkickaLib2 months, 2 weeks ago
Are people forgetting that the oil market is an international market and bills passed by Congress will only impact speculation in this country? Anything traded on foreign exchanes lies outside of Congress' control.
Reply -

donald512 months, 2 weeks ago
Spade, right on! Dumya is laughing all the way to the bank for himself and his big oil buddies! Such is life in a repug world that threw out all federal regulation (the former repug "Do nothing" congress, that is) and anti-monopoly laws, then Dumya's signing statements said to let business do whatever it wants... devil be damned to the American people.
Only LibsR could be so evil as to let the rest of America be scamed and raped by the Bushies!
Reply-

lfergie8122 months, 2 weeks ago
"Only LibsR could be so evil as to let the rest of America be scamed and raped by the Bushies!"
I have to respectfully disagree. There are other evil neo-cons on here that spews out fictitious stories that they hears on FAUX news. LMAO
Reply -

kedirian2 months, 2 weeks ago
And WHO have the inside lines to those who speculate on US markets? Right, Dubya and good Ole Cheney, who BTW had that "secret" meeting with oil-execs early in this misbegotten administration. So, what we need is a national and Congressional push to have the attendance list and the agenda of those meetings published - or, at least, released to a Grand Jury! Wanna bet there somewheres we can find the reason for this out of control oil-market?
Reply
-
-

injest2 months, 2 weeks ago
-

Lurch2 months, 2 weeks ago
Middle class and working poor pay the majority of the pain for the speculation. You own about 1% of 1% of 1% of 1% of 1% of 1% of 1% of 1% of 1% of all energy stocks out there, so your greedy little mind tells you Americans don't have a right to stop the thieves from stealing from us.
Pathetic really.
What flavor is the kool-aid today?
Reply
-
-

mark-stevens2 months, 2 weeks ago
-

jimdoze2 months, 2 weeks ago
"In five years all of Japan's cars will run on water (hydrogen."
Hydrogen IS and elemental part of water... and water IS a byproduct of fuel cell power plants. However, the cheapest way to get hydrogen for fuel cell power is from fracturing natural gas... and it is still at least 3 times as expensive as gasoline. Electrolyzing hydrogen from water requires more energy than can then be obtained from the hydrogen. Japan won't be running cars on water any time in this century.
As for the comment, "We are such a smart country!!" ... ah well!
Reply
-
-

Spadecaller2 months, 2 weeks ago
FTA:
"Record oil prices are inflated by speculation and not justified by market fundamentals," according to Gheit. "Based on supply and demand fundamentals, crude-oil prices should not be above $60 per barrel."
I couldn't agree more. The top 1% of the wealthiest people in America own nearly 98 % of all the stock in energy companies. Among those are also people like Bush and Cheney who earn money directly from the increased revenues from currently inflated prices. Having speculators drive the cost beyond its justified market values is the result of insiders and greed. It's about time that Americans wake up and put an end to this grand rip-off.
Reply -

Spadecaller2 months, 2 weeks ago
FTA:
"Record oil prices are inflated by speculation and not justified by market fundamentals," according to Gheit. "Based on supply and demand fundamentals, crude-oil prices should not be above $60 per barrel."
I couldn't agree more. The top 1% of the wealthiest people in America own nearly 98 % of all the stock in energy companies. Among those are also people like Bush and Cheney who earn money directly from the increased revenues from currently inflated prices. Having speculators drive the cost beyond its justified market values is the result of insiders and greed. It's about time that Americans wake up and put an end to this grand rip-off.
Reply-

engineer2 months, 2 weeks ago
THe solution is to require the Oil companies not to export any oil (like from Alaska) until the price of oil comes way down. It'll be in the name of NATIONAL SECURITY
Reply-

UnusualSuspect2 months, 2 weeks ago
-

antibrainwasher2 months, 2 weeks ago
or, in the name of national security and the economy and global warming, we nationalize our oil, kick out the profiteers, and form a national energy policy that is sustainable and won't kill off our children.
Reply -

PainGoddess2 months, 2 weeks ago
I commented on that 6 months ago that the US exports about a few million barrels a day. The North Slope (alaska) goes entirely to Japan does it not??? So will
-
-

