Re: DEMOCRATS AGAIN PREVENTING AMERICA FROM DRILLING FOR OIL!!

Monkey Clumps wrote:
> On Jun 26, 3:58 pm, "Bob Eld" <nsmontas...@[EMAIL PROTECTED]
> wrote:
>> "Monkey Clumps" <spacebrai...@[EMAIL PROTECTED]
> wrote in message

>>
news:77309231-3a23-4417-b354-9ef6484980cf@[EMAIL PROTECTED]
>>
>> ...snip...
>>> the best thing that can be done in the short term
>> is to tighten the rules on speculation. 

Speculators don't buy & sell oil, they buy & sell 
risk. This makes oil cheaper by making E&P 
financing cheaper. Speculators don't take 
delivery, so they don't effect long term supply 
and demand. If you eliminate them, you get more 
short-term volatility, and HIGHER prices. This is 
just typical government bungling. Their next idea 
will be a special tax on producers. Puni****ng 
investors should spur production right?