Oil speculators will lower the price of oil?

Are any of you aware that we don't need oil from ANWR or offshore or even an increase in supply from the Saudis to drive prices down? All we need is for Congress to anounce drilling will begin to drive prices down bc speculators will know that in the future there will be more oil, which means more supply = less expensive. Then we of course drill. It's that simple. It's amazing the ignorance of people on here who think speculators directly determine the price of oil. They base their price on future available supply.Oil speculators will lower the price of oil?
Your absolutely correct, if we announced that we were drilling in ANWR and the outer Continental Shelf in the future, the price per barrel would drop 30 bucks a barrel TODAY, and by the end of the week would be below 100.00 because the future markets would be having a huge sell off.Oil speculators will lower the price of oil?
Well here's the flaw in your logic. Increased drillling in ANWR, offshore, and by Saudi Arabia (or any other OPEC nation) would also send a message to those trading commodities on the Mecantile Exchange that oil supplies will increase in the future. So, if you're right, Congress would really have to do nothing.
No, the Government has to mandate that any future oil production will be refined and STAY in the US for that to happen.





Congress doesn't have the balls to do so.





EDIT: How am I incorrect? Oil is a natural resource, as such should stay where it was found. Let the US take care of their own and STOP THIS GLOBALIZATION.
Some analysts state that greed and fear are driving the speculation on oil. Others state that if we close the Enron Loophole the price of oil will drop between 25 and 50 percent. I think we need to investigate more about what is really going on in the market before we come to definite conclusions.
Yep, Drill, Drill Now
What you state is partially factual and always ignored by the Talking Point smearers who count on the stupidity of people. Speculators are always out to make a profit and they are part of a capitalistic society. If the future market is uncertain because there may be an oversupply of oil, they will be very careful to drive the prices up. An announcement by the Government that they are finally becoming a bit concerned about our energy market can, therefore, lower the prices. But we have to do then what we advertised. We have to get to our reserves. We need oil for almost everything in our country. In parallel we should obviously plan for alternative energy sources and incentivize people and companies to conserve energy. Why does this plan not go into the heads of so many, including Obama, who just parrots what his lefty advisers are putting in his ears.
it works both ways. and speculators are driving up the price right now even though demand is down and supplies are adequate. maybe if you did some research for yourself ,you would actually know what you are talking about.


http://www.globalresearch.ca/index.php?c鈥?/a>


http://www.sunjournal.com/story/268471-3鈥?/a>


http://www.reuters.com/article/politicsN鈥?/a>


http://www.foxnews.com/story/0,2933,1660鈥?/a>


http://news.yahoo.com/s/ap/20080622/ap_o鈥?/a>





speculation only leads to HIGH prices,so read some of these so you wont look like a idiot in all your questions for a change.





KID I DO NOT NEED TO ADD ANYTHING ELSE TO REINFORCE MY POINT THAT YOU ARE A IDIOT.


keep staring in the mirror and telling yourself your right,since the person staring at you is the only one who believes you.