Quote:
Originally Posted by stovt001
Speculators don't influence the price of oil or gas one penny because they don't actually take possession of the commodity before selling their futures.
Drilling for gas would take years and will pretty much entirely go to the Chinese and Indians anyway.
The fact is $4+ gas is changing America, and for the better. Our roads are less congested. Our air quality is better. We're commuting together. Small local businesses are getting an advantage over distant large companies. Most importantly, American businesses are developing new efficient and clean transportation and energy solutions in the greatest wave of innovation this country has seen in years. Bring on the $5 gas I say.
Fears about GM going bankrupt are far overblown, however. At the rate they're burning cash now they'll make it through 2009, and in 2010 the cost savings from the new union contracts kick in and a ton of fuel efficient new models hit the market. GM stocks are a fantastic value buy right now. When I sell my Olds a lot of that money is buying GM stock and it will make a nice down payment on my Camaro in a few years.
This is simply fear mongering to drive media viewership, support friends with short positions, and get B. Hussein Obama in the White House. Nothing more.
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do you ride a bike? $120 to fill up the hemi
