Quote:
Originally Posted by The_Blur
You cannot stop speculation. This is ridiculous. Speculators in this country will call their friends in another country and speculate there instead when we shut them down. In effect, Americans will miss out on the potential economic gains of speculation while foreigners get all the dough from it. Over time, a successful policy of shutting down American speculation would weaken the US economy. Most of the time, speculation is a good thing for the economy. Now you want to shut it down because they want to make a buck betting on something you don't like. Well I want to shut down the police department because I got a ticket but that isn't going to happen either.
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That's how I felt about speculation. Seems like the senator is talking out of his butt.
Quote:
Originally Posted by The_Blur
On a side note, speculators do not control the price of oil. Companies do based on the speculation. Mr. Billy Speculator does not have direct price control over all of the major oil companies, so don't blame Mr. Bill Speculator when it costs you more to fill up your car. Blame Exxon, Shell, BP, and all of your other favorite wallet-robbing oil companies.
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This conversation we've had already. All I'll say is: The oil companies make 4% profit on a gallon of gas while the government makes a minimum of 16% on a gallon of gas....... Who's ripping us off???