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That’s right, it’s a total myth. For those of you who are unfamiliar with how the commodities market works, here’s a primer. If you are a speculator who thinks the price of oil is going up, you have to find a speculator who thinks the price of oil is going down. Got that? You have to buy oil…
The US Attorney for the state of North Dakota took seven oil and gas companies to court charging them with killing 28 migratory birds.
Really, where do these Democrats get off targeting one specific industry as evil and unreasonable since they – by some arbitrary decree – think the industry makes too much money?
This is out of control. On May 3 I wrote about how the left, President Obama and Democrats can’t admit that what they refer to as major “subsidies” are simply ordinary business expenses. Now Obama has used the word “giveaways” in a direct email campaign looking for donations.
I don’t blame them if some of the answers were confrontational. This attack on big oil profits with Congress-critters spouting off crap like “don’t you think it’s better to give kids education grants instead of giving you profit” is unmistakably stupid. I’m sick of these attacks.
When the cost of doing business increases, the business can increase prices, take a lower profit margin, cut dividends, cut labor and R&D, or most likely a combination of those options. Basic business right?
He’s serious, so much so, he’s created a task force to “look into speculation to make sure folks are not taking advantage of the situation on the global oil markets”. We’ve heard about oil task forces before … never seem to hear what they have found.