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Thread: Gas prices are highest ever for this time of year

  1. #71
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    Re: Gas prices are highest ever for this time of year

    Quote Originally Posted by Kushinator View Post
    If that was the case, i would not have had to correct your misuse of basic vocabulary. Prices by definition cannot be artificial no matter what underlying good to which we use prices to measure value.
    Market manipulation describes a deliberate attempt to interfere with the free and fair operation of the market and create artificial, false or misleading appearances with respect to the price of, or market for, a security, commodity or currency.

    Market manipulation - Wikipedia, the free encyclopedia

    Now, to be clear I'm not saying that manipulation was the sole, main or even major reason for the rise to $145 but the government confirmed that it played a role.

    Government uncovers oil price manipulation - Jul. 24, 2008

    Things like the markets spiking every time there was a report of a storm in the Gulf was artificial.
    Last edited by 1Perry; 02-20-12 at 10:40 PM.

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    Re: Gas prices are highest ever for this time of year

    Between the sanctions on Iran, and propping up both big oil interests and the illusion of consumer demand, I wouldn't expect anything less.

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    Re: Gas prices are highest ever for this time of year

    Quote Originally Posted by 1Perry View Post
    Market manipulation describes a deliberate attempt to interfere with the free and fair operation of the market and create artificial, false or misleading appearances with respect to the price of, or market for, a security, commodity or currency.

    Market manipulation - Wikipedia, the free encyclopedia

    Now, to be clear I'm not saying that manipulation was the sole, main or even major reason for the rise to $145 but the government confirmed that it played a role.

    Government uncovers oil price manipulation - Jul. 24, 2008

    Things like the markets spiking every time there was a report of a storm in the Gulf was artificial.
    Speculation is the norm in asset markets; there is nothing artificial about it! Asymmetric information exists, and i have no doubt that people can and do exploit it. However, market manipulation in commodity and equity markets is certainly not the norm.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Gas prices are highest ever for this time of year

    Quote Originally Posted by 1Perry View Post
    Market manipulation describes a deliberate attempt to interfere with the free and fair operation of the market and create artificial, false or misleading appearances with respect to the price of, or market for, a security, commodity or currency.

    Market manipulation - Wikipedia, the free encyclopedia

    Now, to be clear I'm not saying that manipulation was the sole, main or even major reason for the rise to $145 but the government confirmed that it played a role.

    Government uncovers oil price manipulation - Jul. 24, 2008

    Things like the markets spiking every time there was a report of a storm in the Gulf was artificial.
    And of course a significant part of the Dodd-Frank financial reform bill is aimed at curbing just such speculation. Is that why Republicans are so dead set against it?

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    Re: Gas prices are highest ever for this time of year

    I highly recommend this film:




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    Re: Gas prices are highest ever for this time of year

    Quote Originally Posted by Kushinator View Post
    Speculation is the norm in asset markets; there is nothing artificial about it! Asymmetric information exists, and i have no doubt that people can and do exploit it. However, market manipulation in commodity and equity markets is certainly not the norm.
    As long as we have agreed that $145 was artificial.

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    Re: Gas prices are highest ever for this time of year

    Quote Originally Posted by AdamT View Post
    And of course a significant part of the Dodd-Frank financial reform bill is aimed at curbing just such speculation. Is that why Republicans are so dead set against it?
    It does no such thing.

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    Re: Gas prices are highest ever for this time of year

    Quote Originally Posted by 1Perry View Post
    It does no such thing.
    In fact, it does just such a thing. Unfortunately, due to opposition by the Republican members of the CFTC, it doesn't do it strongly enough.

    Regulators impose limits on oil speculation - The Hill's E2-Wire

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    Re: Gas prices are highest ever for this time of year

    Gas has been going up steadily since obama seized power. His anti oil policies have investors running up oil prices because they look into the future and see America using more oil and producing less, that's how markets work.

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    Re: Gas prices are highest ever for this time of year

    Quote Originally Posted by sawyerloggingon View Post
    Gas has been going up steadily since obama seized power. His anti oil policies have investors running up oil prices because they look into the future and see America using more oil and producing less, that's how markets work.
    Domestic US oil production is higher than it has been in 40 years..

    BECAUSE.. the ppb is high.

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