Not Logged In Log In   Sign Up   Points Leaders
Follow Us    12:31 AM

GasBuddy News Article

31
votes
How Speculators Are Driving Up Oil Prices

Consumer Affairs -- Consumer advocates have, in 2008 and lately, blamed Wall Street oil market traders for driving up crude prices, and with them the price of gasoline. Now, the consumer advocates have some unlikely company.

Wall Street giant Goldman Sachs said today that oil prices have risen too far, too fast and said the price simply isn't supported by market fundamentals. In an email to clients today, Goldman Sachs chief energy analyst David Greely said the recent run-up in prices looks to be ahead of itself.


Read the Full Article

Submitted Apr 14, 2011 By: boutmuet
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: How Speculators Are Driving Up Oil Prices Back to Topics
REPLIES (newest first) Post a Reply
Profile Pic
glorioussnookie
Champion Author Tennessee

Posts:4,324
Points:781,860
Joined:Feb 2010
Message Posted: Apr 14, 2011 11:15:16 AM

'JimTee & THEDodgeman' Hit the nail on the head about what the speculators are doing to our county and what should be done to them! God Bless!!!! TOL! = Tons of Love!!!!!! A positive saying we sure need in these trying times!!! Gloria
Profile Pic
mmene
Champion Author Houston

Posts:4,347
Points:938,970
Joined:May 2008
Message Posted: Apr 14, 2011 11:09:50 AM

More likely Goldman Sachs has sold its long positions and switched to short and is now looking to cash in on the roller coaster.
Profile Pic
stickyvalves
Champion Author Iowa

Posts:6,471
Points:1,793,265
Joined:Oct 2005
Message Posted: Apr 14, 2011 10:07:25 AM

Goldman Sachs must be short.
Profile Pic
WilW
Champion Author Atlanta

Posts:13,505
Points:2,952,465
Joined:Aug 2004
Message Posted: Apr 14, 2011 9:57:42 AM

Duh!
Profile Pic
bikechuck
Champion Author Indianapolis

Posts:8,685
Points:2,396,015
Joined:Apr 2006
Message Posted: Apr 14, 2011 9:55:50 AM

Dogs!!!!!
Profile Pic
THEDodgeman
Champion Author Denver

Posts:9,662
Points:2,279,515
Joined:Apr 2005
Message Posted: Apr 14, 2011 9:53:34 AM

I WOULD LIKE TO DRIVE SOMETHING UP THOSE SPECULATORS.
Profile Pic
TheSicilian
Champion Author Jacksonville

Posts:7,039
Points:1,803,275
Joined:Feb 2009
Message Posted: Apr 14, 2011 9:50:06 AM

really the rest of us have known this for a while now
Profile Pic
Bubba44612
Champion Author Ohio

Posts:8,988
Points:2,204,220
Joined:Aug 2005
Message Posted: Apr 14, 2011 9:49:51 AM

Someone must have talked to Goldman Sachs about screwing up the economy.
Profile Pic
niceguytx
Champion Author Houston

Posts:15,320
Points:3,041,350
Joined:Sep 2005
Message Posted: Apr 14, 2011 9:45:34 AM

He is strategic, and there is little he can do tactically.
Profile Pic
Sam195
Champion Author San Bernardino

Posts:9,685
Points:1,893,095
Joined:Oct 2008
Message Posted: Apr 14, 2011 9:43:30 AM

This has been going on for years, and all the President can do is give speeches.
Profile Pic
lleddirj
Champion Author Michigan

Posts:3,681
Points:1,156,755
Joined:May 2005
Message Posted: Apr 14, 2011 9:43:29 AM

Why is it that neither house of criminals (oops, I meant congress) has the b@lls to do anything?
Profile Pic
KaiserM715
Veteran Author Houston

Posts:343
Points:762,560
Joined:Apr 2006
Message Posted: Apr 14, 2011 9:38:21 AM

"The crazy speculators have no clue what they are doing to themselves and the economy."

Nor do they care...
Profile Pic
JimTee
Champion Author Tampa

Posts:2,397
Points:1,800,555
Joined:Apr 2006
Message Posted: Apr 14, 2011 8:19:56 AM

The crazy speculators have no clue what they are doing to themselves and the economy.
Profile Pic
Jaguar25
Veteran Author Asheville

Posts:305
Points:61,140
Joined:Mar 2011
Message Posted: Apr 14, 2011 7:45:34 AM

To bad the bottom can not drop out of gas prices like it did home real estate. If those folks get burned once they will not buy on spec again.
Profile Pic
mrbenTX
All-Star Author Corpus Christi

Posts:818
Points:41,405
Joined:Mar 2011
Message Posted: Apr 14, 2011 7:13:50 AM

SPECULATORS NEED TO BE REGULATED. OBAMA ADMINISTRATION CAN REGULATE THESE THIEVES, BUT THEY ARE HELPING OBAMA WITH HIS SOCIALIST AGENDA
Profile Pic
FocusST2
Champion Author North Carolina

Posts:9,754
Points:1,709,200
Joined:Jul 2009
Message Posted: Apr 14, 2011 7:07:52 AM

Say it isn't so!
Profile Pic
sec19fan
Champion Author New Brunswick

Posts:1,376
Points:355,410
Joined:Nov 2009
Message Posted: Apr 14, 2011 5:35:55 AM

Greedy buggers!
Profile Pic
MetroSexual
Champion Author Colorado

Posts:3,012
Points:316,875
Joined:Aug 2005
Message Posted: Apr 14, 2011 5:14:06 AM

That's right -- keep the fear propaganda going. Maybe it will lower the gas prices, eventually.
Profile Pic
econoride
All-Star Author Charlotte

Posts:597
Points:284,705
Joined:Aug 2006
Message Posted: Apr 14, 2011 4:45:22 AM

Speculators will always be there. Sometimes they win, sometimes they lose. They have no long term effect on the market.
Profile Pic
OnTheWater
Champion Author Orange County

Posts:2,123
Points:623,130
Joined:Nov 2009
Message Posted: Apr 14, 2011 2:59:50 AM

Um you think????
Post a reply Back to Topics