Tuesday, June 3, 2008

A Goldman-Sachs Gas Station near you soon!

Let's see who we should blame for rising oil prices! 
Gas guzzling SUV's, the evil Chinese economy, our
insatiable desire for heating oil in the winter, our
useless drives to grandmother's house!  Yikes.....
setting ourselves up as the worst person in the world
should be restricted to that opinion by Keith Obermann
.....not finger pointing at each other.

In 2000, a little company named Enron came up with a
idea to corner the natural gas market.  They got
Congress to add a little "investment exception" to a
Farm Bill.....which allowed them to buy with "No money
down"...to buy up the lion share of natural gas in the
United States!  The result was the cornering of the
Western Energy Markets and a $40 Billion dollar
expense to consumers in California, Arizona and Nevada!
This caveat to the Energy Regulations is still in
effect.  As a result....Goldman-Sachs and other major
Investment groups like the Dubai Investments Group....
are cornering the market in Oil.  As a result....the
distortions in the Energy Markets are a direct result
of Hedge Funds and Derivative Investors....moving out
Sub-Prime Mortgage Vehicles and into "Indexed Energy
Futures"!

The oil companies tell us that the actual cost of
production is roughly $40 dollars a barrel.  Since
the "street price" is now at least three times that
..... fast action by the Congress could quickly pull
the rug out from under these international energy
speculators!  Goldman-Sachs is the group pushing the
$200 a barell "hype to investors"...such as CalPers
and other major Public Employee Pension Funds that
are scared to death...they are going to miss out on
the "The Black Gold Rush of 2008"!

Let's be clear, before "the Enron Investment
Exception"...Energy Markets only spiked once...when
Jimmy Carter couldn't get our hostages out of Iran! 
Then the failure of our rescue efforts.....then the
lack of will to adjust interest rates by the Fed. 
But that is all "old news"!  We need Federal
Regulations of the Energy Markets...and we need them
now.  We need to halt "Investment Speculation in the
Energy Markets"....and all the Congress has to do is
to retrench to the rules that governed these markets
for 78 years...prior to the year 2000...."Enron
Exception"!

There is little doubt that there is greater demand
for oil in our society and there is little doubt
that we need to cut back on how much we use.  How
much do we have to cut back? 20%, 30%.....maybe....
but not 100%...based on the greed of now uncompliant
Investment Vehicles that are jumping on board the
"Black Gold Band Wagon".

So, when you pass or stop at that Gas Station in your
neighborhood...do not swear at the oil companies,
the Arab oil producers.....blame their banks....blame
our banks and investment groups....they are stealing
money right out of your pockets and putting it into
theirs! The real price of a gallon a gas should be
under $3 dollars a gallon without the artificial
market distorations.

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