- Posted March 22, 2012 by
This iReport is part of an assignment:
Oil speculation and politics 2012
Five years ago I said the speculators, one of whom sat next to me each day, were a big part of the problem. That hasn't changed. None will give us the real numbers on how much this drives up $/gallon at the pump because they are making profits from it. We won't know until speculation in energy is ended.
For energy, this one thing with price fixed by oil cartels so basically a monopoly, the rules must be different to protect the security and functioning of the nation. We wouldn't let them charge us $4/gallon for water that we need to live, and fuel is no different.
Oil futures should only be allowed to be purchased by those who will be USING it in the future. Not by my buddy who wants to retire early so who is buying shares.
This is oversimplified and I don't have the solution because I haven't studied into it enough, but it is very clear that free market concept with energy cartels fixing prices on something absolutely integral to us all is NOT the solution.
There are those making lots of money who oppose all forms of alternative energy from which they cannot make similar profit. I'm not one of them because energy is so integral to the function of our society. Give me portable affordable solar panels and they will be hung out the window of my sun facing apartment and running my lights and television presto. We need a citizens revolt and an affordable way to do that.
Signed Texas girl:) T Boone Pickens is another Texas man, oil guy, who said similar. Reduce the dependence on foreign oil. I say first eliminate their profiteering and there will not be nearly the resistance to it;-)