Iran, oil, OPEC

#32
#32
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[FONT=Tahoma, Verdana, MS Sans Serif]Our country is facing a possible sharp economic downturn because of skyrocketing oil and fuel prices, but by pulling together, we can all do something to help now. [/FONT]
[FONT=Tahoma, Verdana, MS Sans Serif]For airlines, ultra-expensive fuel means thousands of lost jobs and severe reductions in air service to both large and small communities. To the broader economy, oil prices mean slower activity and widespread economic pain. This pain can be alleviated, and that is why we are taking the extraordinary step of writing this joint letter to our customers. [/FONT]
[FONT=Tahoma, Verdana, MS Sans Serif]Since high oil prices are partly a response to normal market forces, the nation needs to focus on increased energy supplies and conservation. However, there is another side to this story because normal market forces are being dangerously amplified by poorly regulated market speculation. [/FONT]
[FONT=Tahoma, Verdana, MS Sans Serif]Twenty years ago, 21 percent of oil contracts were purchased by speculators who trade oil on paper with no intention of ever taking delivery. Today, oil speculators purchase 66 percent of all oil futures contracts, and that reflects just the transactions that are known. Speculators buy up large amounts of oil and then sell it to each other again and again. A barrel of oil may trade 20-plus times before it is delivered and used; the price goes up with each trade and consumers pick up the final tab. Some market experts estimate that current prices reflect as much as $30 to $60 per barrel in unnecessary speculative costs. [/FONT]
[FONT=Tahoma, Verdana, MS Sans Serif]Over seventy years ago, Congress established regulations to control excessive, largely unchecked market speculation and manipulation. However, over the past two decades, these regulatory limits have been weakened or removed. We believe that restoring and enforcing these limits, along with several other modest measures, will provide more disclosure, transparency and sound market oversight. Together, these reforms will help cool the over-heated oil market and permit the economy to prosper. [/FONT]
[FONT=Tahoma, Verdana, MS Sans Serif]The nation needs to pull together to reform the oil markets and solve this growing problem. [/FONT]
[FONT=Tahoma, Verdana, MS Sans Serif]We need your help. Get more information and contact Congress by visiting www.StopOilSpeculationNow.com. [/FONT]
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[FONT=Tahoma, Verdana, MS Sans Serif]Richard Anderson[/FONT]
[FONT=Tahoma, Verdana, MS Sans Serif]CEO[/FONT]
[FONT=Tahoma, Verdana, MS Sans Serif]Delta Air Lines, Inc.[/FONT]
[FONT=Tahoma, Verdana, MS Sans Serif]Gerard J. Arpey[/FONT]
[FONT=Tahoma, Verdana, MS Sans Serif]Chairman, President and CEO[/FONT]
[FONT=Tahoma, Verdana, MS Sans Serif]American Airlines, Inc.[/FONT]
[FONT=Tahoma, Verdana, MS Sans Serif]Bill Ayer[/FONT]
[FONT=Tahoma, Verdana, MS Sans Serif]Chairman, President and CEO[/FONT]
[FONT=Tahoma, Verdana, MS Sans Serif]Alaska Airlines, Inc.[/FONT]
[FONT=Tahoma, Verdana, MS Sans Serif]Dave Barger[/FONT]
[FONT=Tahoma, Verdana, MS Sans Serif]CEO[/FONT]
[FONT=Tahoma, Verdana, MS Sans Serif]JetBlue Airways Corporation[/FONT]
[FONT=Tahoma, Verdana, MS Sans Serif]Mark B. Dunkerley[/FONT]
[FONT=Tahoma, Verdana, MS Sans Serif]President and CEO[/FONT]
[FONT=Tahoma, Verdana, MS Sans Serif]Hawaiian Airlines, Inc.[/FONT]
[FONT=Tahoma, Verdana, MS Sans Serif]Robert Fornaro[/FONT]
[FONT=Tahoma, Verdana, MS Sans Serif]Chairman, President and CEO[/FONT]
[FONT=Tahoma, Verdana, MS Sans Serif]AirTran Airways[/FONT]
[FONT=Tahoma, Verdana, MS Sans Serif]Timothy E. Hoeksema[/FONT]
[FONT=Tahoma, Verdana, MS Sans Serif]Chairman, President and CEO[/FONT]
[FONT=Tahoma, Verdana, MS Sans Serif]Midwest Airlines[/FONT]
[FONT=Tahoma, Verdana, MS Sans Serif]Lawrence W. Kellner[/FONT]
[FONT=Tahoma, Verdana, MS Sans Serif]Chairman and CEO[/FONT]
[FONT=Tahoma, Verdana, MS Sans Serif]Continental Airlines, Inc.[/FONT]
[FONT=Tahoma, Verdana, MS Sans Serif]Gary Kelly[/FONT]
[FONT=Tahoma, Verdana, MS Sans Serif]Chairman and CEO[/FONT]
[FONT=Tahoma, Verdana, MS Sans Serif]Southwest Airlines Co.[/FONT]
[FONT=Tahoma, Verdana, MS Sans Serif]Douglas Parker[/FONT]
[FONT=Tahoma, Verdana, MS Sans Serif]Chairman and CEO[/FONT]
[FONT=Tahoma, Verdana, MS Sans Serif]US Airways Group, Inc.[/FONT]
[FONT=Tahoma, Verdana, MS Sans Serif]Douglas M. Steenland[/FONT]
[FONT=Tahoma, Verdana, MS Sans Serif]President and CEO[/FONT]
[FONT=Tahoma, Verdana, MS Sans Serif]Northwest Airlines, Inc.[/FONT]
[FONT=Tahoma, Verdana, MS Sans Serif]Glenn F. Tilton[/FONT]
[FONT=Tahoma, Verdana, MS Sans Serif]Chairman, President and CEO[/FONT]
[FONT=Tahoma, Verdana, MS Sans Serif]United Airlines, Inc.[/FONT]
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#33
#33
To add to this, the US has been aware of Iran trying to block the Hormuz straight since...., well, since we have sent our Navy in. Plans are in place and they get modified to change with the situation.

Economically, It will hurt them just as much as us if not more.
 
#34
#34
MontereyVol said:
To add to this, the US has been aware of Iran trying to block the Hormuz straight since...., well, since we have sent our Navy in. Plans are in place and they get modified to change with the situation.

Economically, It will hurt them just as much as us if not more.
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I agree man, that is the ONLY thing that holds Iran together, OIL.
 
#35
#35
they use to buy their gas from us... but since they have no problems with building a load of refineries and we haven't built one in 20 years, that dynamic is shifting.
 
#38
#38
On top of all this, have y'all seen the T. Boone Pickens commercials stating alternate forms of energy have to be developed? The man is a gazillionaire from oil but has enough love for this country to let us all know we need to do something now before it's waaaay too late......
 
#39
#39
Yeah Hman, I was watching him on CNBC the other morning laying out his plan, it's interesting.
 
#40
#40
allvol123 said:
Good thing we've spent 25+ years keeping our hands off our own natural resources. Great planning.
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Good thing our politicians have allowed big oil to keep to keep them in their back pockets and not develop alternative sources.
 
#41
#41
OWB said:
Good thing our politicians have allowed big oil to keep to keep them in their back pockets and not develop alternative sources.
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why is the development of alternative energy sources a function of the government or the oil companies? To say that the big oil companies are not developing alternative energy sources is a flat out lie.

Alternative energy | Environment and society | BP

climate

Alternative energy - United States

I recall W announcing an initiative to develop hydrogen fuel cell cars that was laughed at as being too long term. Other than strengthening the US dollar, eliminating regional blends, and bringing some 1999 era speculation regulations back into effect, there are no short term fixes.
 
#42
#42
and who's blocking drilling?

FOXNews.com - Federal Judge Blocks Oil Drilling in Michigan Forest - Local News | News Articles | National News | US News

the judge ruled the Forest Service didn't consider how degrading the area could harm tourism, and said the agency did a "woefully inadequate" job of evaluating how the drilling might affect the Kirtland's warbler, an endangered songbird that nests in the area.
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3 1/2 acres on federal land would have been cleared, and slant drilling would have been used to explore under the Mason tract. The Federal Government owns the mineral rights, yet the Sierra Club, once again using the power of the federal court system, puts the life of some stupid little bird above the interests of the US.
 
#43
#43
Well I guess the judge wants to pay $5 a gallon for his gas. Good lord, something has to give with these groups.
 
#44
#44
MG1968 said:
why is the development of alternative energy sources a function of the government or the oil companies? To say that the big oil companies are not developing alternative energy sources is a flat out lie.

Alternative energy | Environment and society | BP

climate

Alternative energy - United States

I recall W announcing an initiative to develop hydrogen fuel cell cars that was laughed at as being too long term. Other than strengthening the US dollar, eliminating regional blends, and bringing some 1999 era speculation regulations back into effect, there are no short term fixes.
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why respond? It's not a function of the government nor a responsibility of any oil company to do anything? Maybe the gov't could encourage development of alternative sources or supplies, but I can't imagine any gov't sponsored effort being anything but detrimental.

Let do gooder libs shuck any personal responsibility by blaming someone else and pretending to take some make believe moral high ground. It's the Al Gore way with just a tinge less blatant lying. Nothing will be done until some capitalist eventually gets it right, then the lefties will bitch about him being rich BECAUSE others are poor. They'll follow that up by taxing his product into oblivion then complain about the pricing then start the search for Lewis' New New Thing.
 
#45
#45
It's in the national interest to ensure this country has the energy reserves it needs. It seems naive, to say it isn't.
 
#46
#46
OWB said:
Good thing our politicians have allowed big oil to keep to keep them in their back pockets and not develop alternative sources.
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Sharp thinking there. Yea, the politicians are so in the back pocket of Big Oil, that Big Oil is not allowed to drill where it wants to drill. They really got those idiot politicians by the balls don't they?
 
#47
#47
oklavol said:
It's in the national interest to ensure this country has the energy reserves it needs. It seems naive, to say it isn't.
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It's more naive to assume we don't or have plans to make it available. See: strategic portion of Iraq invasion that you don't quite understand for more info.
 
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