Mainstream liberal media edits out reasons for oil price rise

[araine]

http://news.yahoo.com/why-americans-...183758416.html

Many economists agree that a weak dollar is part of the reason oil prices are rising, yet this article doesn't even mention it as a possible reason. The dollar is weak due to Obama's policies. It also doesn't mention the Keystone Pipeline issue, nor the fact that Obama hasn't allowed us to drill for oil in many areas. All of these reasons would make Obama look bad, so its left out of the discussion.

The hyper-partisanship on the liberal media is on full display in an article like this. Everyone must learn to question authority. Don't just accept what they tell you and look for what they don't say.

There's a lot of questioning of FOX news, but look at the bias on the left.

So was it Obama's fault when the spike of oil prices in early 2008 when Bush was president?? remember prices back than was still HIGHER than they are today. perhaps we should just use what the rightwingers use when they talk about global warming and call the current prices just fluctuations in the market cycle of oil prices.

No really. the main reason is the betting on futures that is driving up the costs on oil, this ponzi scheme is also in place on pretty much any commodity that gets traded today. Check out the gambling that have been driving up the price of wheat and oil.

And the fact that the dollar gets low or high have no relevance for the oil price since prices are set in dollars in the first place it doesnt matter if it goes up or down.

For the rest of the world that uses oil for fuel etc ( which is most of it) the fact that the dollar is weaker means oil prices have gone DOWN, price at the pump is lower than it would be if the dollar was stronger. That right there proves it has no connection as you say it does. Since really if the dollar value being lower makes the gas cheaper in Sweden and a strong dollar means the cost is going up.

Look on this as 2 sliding bars dollar value on one of them and oil price on the other prices changes based on where those bars are but the value of the dollar have no bearing on the cost of oil if it is your own currency since you are by default insured against exchange rates since you deal in your own currency.

[yetgdhfgh]

"Greedy speculator" ? You don't even understand what speculators do.

Speculators bet that a price of oil will cost x in the future so they buy up as much as they can driving up prices up then quickly sell it off to make a profit

well thats my understanding anyway

[araine]

Just because you irrationally hate Obama doesn't mean there is a liberal bias towards anything.

But Rush and Glenn have been telling it is like that everyday for 3 years now. Personally i am of the opinion you can have whatever view how stupid or total nonsense it is i dont care. but what i will NEVER let anyone have is there own set of facts. FACTS are facts opinions are opinions

If someone thinks we should have zero taxes fine i am not stopping you. But you can not go around and shout taxes are 110% 110% 110% when that is not factually true. folks needs to debate with teh FACTS and only the FACTS.

---------- Post added 2012-02-28 at 01:19 PM ----------

Speculators bet that a price of oil will cost x in the future so they buy up as much as they can driving up prices up then quickly sell it off to make a profit

well thats my understanding anyway

thats exactly how it works. And this gamble economy on oil prices is making up roughly 90% of the entire oil market. the actual supply and demand etc is irrelevant since the gambling is so big it is the market for oil but they actually never buy a single drop of it they just place bets and drive up the price.

[cubby]

But Rush and Glenn have been telling it is like that everyday for 3 years now. Personally i am of the opinion you can have whatever view how stupid or total nonsense it is i dont care. but what i will NEVER let anyone have is there own set of facts. FACTS are facts opinions are opinions

If someone thinks we should have zero taxes fine i am not stopping you. But you can not go around and shout taxes are 110% 110% 110% when that is not factually true. folks needs to debate with teh FACTS and only the FACTS.

I read this twice and I can't tell if you are agreeing with me, making fun of me, or making some other point. Could you perhaps clarify what you are saying?

[Zecora]

"Greedy speculator" ? You don't even understand what speculators do.

Speculators try to maximise their profits from making shrewd guesses on market (etc.) developments, often based on analysis and so on. This is usually done with no regard to any negative effects to others, and with the purpose of profit as a motivator. "Greed" seems a pretty accurate label in this case.

[Spectral]

Many economists agree that a weak dollar is part of the reason oil prices are rising, yet this article doesn't even mention it as a possible reason.

Can you cite a single credible economist that agrees with that statement? All the economists I read agree that inflation is low.

who cares if Global Warming is Real or not; humans need to learn how to respect the nature and the earth!

The dollar is weak due to Obama's policies. It also doesn't mention the Keystone Pipeline issue, nor the fact that Obama hasn't allowed us to drill for oil in many areas. All of these reasons would make Obama look bad, so its left out of the discussion.[/quote]

Keystone has little or no effect on world oil supply. US drilling would also have a negligible effect on world oil supply. I don't think the issue is media bias, I think it's your own lack of knowledge.

[asher1611]

http://news.yahoo.com/why-americans-...183758416.html

Many economists agree that a weak dollar is part of the reason oil prices are rising, yet this article doesn't even mention it as a possible reason. The dollar is weak due to Obama's policies. It also doesn't mention the Keystone Pipeline issue, nor the fact that Obama hasn't allowed us to drill for oil in many areas. All of these reasons would make Obama look bad, so its left out of the discussion.

The hyper-partisanship on the liberal media is on full display in an article like this. Everyone must learn to question authority. Don't just accept what they tell you and look for what they don't say.

There's a lot of questioning of FOX news, but look at the bias on the left.

Hyper-partisanship? Might want to take a look in the mirror.

And I wouldn't go so far as to blame Obama's policies for the weakening dollar. It was in decline well before Bush left office.

Also, under Obama domestic oil production has increased. Yes, a number of federally protected lands are closed for drilling (and I support keeping them closed), but even if they were opened up it would take awhile before drilling commenced...and even then they wouldn't necessarily go to the US oil reserve. So that would not explain or quell a recent spike in prices.

Trust me, I'm open to questioning authority. But I also question people who window dress their poorly made points with assertions that do not hold up to facts.

[Bakis]

God forbid the United States of Polution turned away from oil dependency right?

[Deleted]

Speculators try to maximise their profits from making shrewd guesses on market (etc.) developments, often based on analysis and so on. This is usually done with no regard to any negative effects to others, and with the purpose of profit as a motivator. "Greed" seems a pretty accurate label in this case.

Pretty accurate.

However, what you don't acknowledge is what their speculation actually leads to. If a speculator makes a correct analysis and prediction, he makes money. But in additional to that, he affects the market price of oil. And this sends vital signals to the oil producers and consumers.

For example, if an analyst predicts that oil consumtion will spike in the near future, he will "buy" oil. This will increase the price of oil, and that's a good thing. It ensures that people in the market will use less oil and to ensure that there is enough oil for the upcoming spike. He then sells the oil as the spike happens for maximum profit. By doing this, he took oil from a period where there was an abundance of it, and made it available during a period where there was a shortage of it.

When it comes to different forms of insuring yourself against volatility in the oil market, the speculators play a vital role as well. A large oil consumer will want a predictable and stable price for the oil it buys. The speculator takes on all the risk that the oil consumer does not want, and gets paid for taking on the risk. If the speculator has made his predictions and homework, he will make a profit. If he doesn't, he'll take a loss.

In other words, when the speculators make good bets, it benefits the markets.
When the speculators make irrational and bad bets, it will fuck up the prices and the markets.

[Laize]

Speculators try to maximise their profits from making shrewd guesses on market (etc.) developments, often based on analysis and so on. This is usually done with no regard to any negative effects to others, and with the purpose of profit as a motivator. "Greed" seems a pretty accurate label in this case.

In the process they become buyers for a product someone is trying to sell. There's nothing wrong with greed. In this case speculators provide liquidity in markets.

[Noomz]

http://news.yahoo.com/why-americans-...183758416.html

Many economists agree that a weak dollar is part of the reason oil prices are rising, yet this article doesn't even mention it as a possible reason. The dollar is weak due to Obama's policies. It also doesn't mention the Keystone Pipeline issue, nor the fact that Obama hasn't allowed us to drill for oil in many areas. All of these reasons would make Obama look bad, so its left out of the discussion.

The hyper-partisanship on the liberal media is on full display in an article like this. Everyone must learn to question authority. Don't just accept what they tell you and look for what they don't say.

There's a lot of questioning of FOX news, but look at the bias on the left.

I'm gonna have to bring my tinfoil hat for this one.

Would you like to support your rather bold claims? It'd help in taking you more seriously.

But you're right, question all authority, but not to absurdity.

[McSpriest]

http://news.yahoo.com/why-americans-...183758416.html

Many economists agree that a weak dollar is part of the reason oil prices are rising, yet this article doesn't even mention it as a possible reason. The dollar is weak due to Obama's policies. It also doesn't mention the Keystone Pipeline issue, nor the fact that Obama hasn't allowed us to drill for oil in many areas. All of these reasons would make Obama look bad, so its left out of the discussion.

The hyper-partisanship on the liberal media is on full display in an article like this. Everyone must learn to question authority. Don't just accept what they tell you and look for what they don't say.

There's a lot of questioning of FOX news, but look at the bias on the left.

technically yahoo news tends to lean right not left, but hey whatever

also the "oil is obama's fault" argument is crap. oil price is primarily a response to what is happening in that region of the world, and the president (whoever they are) has little control of it. it spiked high during Bush as well. it happens. thus we need to cut our foreign dependency

[Collegeguy]

Lol at you silly people with your high gas prices. Keep seeing this on the news and laughing at you guys in those states. Gas prices are dirt cheap right now in northern United States because we get our oil from canada. Other states are still dirt cheap right now because they get their oil domestically. If your buying your oil overseas, it's expensive atm. That is a distribution problem you're having. I guess you could point that at Obama for the pipeline.

[Zarasthura]

Yeah, it was Obama's fault when I was paying nearly 4 USD on the gallon in 2008, when Bush was still in office. Mmhmm.

[Nero Duskwind]

I'll just leave this here to add some more perspective...

http://www.usatoday.com/money/indust...ort/52298812/1

[Laize]

Also anyone complaining about gas prices in the US should probably take a 2 week vacation to the UK.

They have gas prices about £5.17/gallon. Also known as $8.19/gallon in the US.

[Deleted]

Interesting article. So far we've established the following
-Obama is to blame for China's increasing oil consumption. Should he be going all ant-capitalist and introducing export controls?
-Obama is to blame for Iran cutting off their oil supply to the market. Should he be ignoring Iran's nuclear weapon development?
-Obama is to blame for the Libyan uprising. Fact is oil supply would have been disrupted during the fighting anyway. I guess we could have turned a blind eye to a lil massacre for the sake of cheaper oil prices, that's never come back to bite us before.

I can't speak for whether this hasn't been covered well in "mainstream liberal media", but its certainly bleedin obvious.

The summer/winter blend thing is interesting, anyone got a link that explains it better?

[Palliente]

You're totally clueless if you think Keystone or extra drillings have ANYTHING to do with oil prices. Oil speculators are the ones that make the prices rise so much. You know who they are? Koch Brothers (among others, but these are very large players in the market). You know who they fund? Mitt Romney and Scott Walker, for example.

Oil isn't set to a national level. You drill, you refine it and sell to the market, that then gets sent to somewhere else, maybe back to the US, or maybe somewhere else. Turn off Faux News for a bit, will ya?

Also, ask your congressman why they refused the amendment to they Keystone bill. Oh, you didn't even hear about it, did ya? Well, all it proposed is that all the oil going through the pipeline would stay in the US. You know what happened? It got CRUSHED.

This guy knows what he's talking about. If you just think about it for a second, it will be very clear.

Quantity supplied and quantity demanded have very little influence on the price of gasoline.

When gas goes from $2.00 to $4.00 per gallon, it's NOT because there is only half as much available today, and it's not because twice as much gasoline is being demanded.

Futures. Organized, legal gambling on future oil prices. That's what drives the gas prices.

[Nycrolieben]

I'm no fan of Obama, or any politician for that matter, but your spew is polluted with ignorance. Identifying oneself as an outspoken fox news viewer will not help you in any way.

[Roose]

Obama did not devalue the dollar.

This is all just playing into the global shuffle. Our policymakers are in bed with representatives of oil-controlling countries. The only reason oil costs so much is because that is what the people in power want. Simple as that.

It is not democrats or republicans it is the social elite in general that are to blame. You think any of them give a shit about you? That is the problem with America, people actually think politicians care about the general population.

The moment people wake up and see that this country is falling in the shitter and realize it is ALL POLITICIANS fault, the sooner we can get things back on track. First and foremost, people need to stop supporting politicians with only corporate interests in mind. It ain't gonna happen overnight either.

Blaming liberal or conservative media is exactly what they want us to do. Blame the system that has failed us all. Two party system is the illusion of choice. Keep the nation divided and the system will never change.