tag:blogger.com,1999:blog-6522376676055666486.post4641690949833855441..comments2023-11-02T06:36:05.561-07:00Comments on Ghawar Guzzler: Gensler Wants to Kill the RatsBloggin' Brewskiehttp://www.blogger.com/profile/06117891792945288480noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-6522376676055666486.post-75375280348044731762009-07-09T12:27:45.305-07:002009-07-09T12:27:45.305-07:00B. Cole,
It's not just Russia or Saudi that w...B. Cole,<br /><br />It's not just Russia or Saudi that wants to game the NYMEX - it's also Merrill Lynch, Goldman Sachs, T. Boone Pickens, and many other nefarious rats who want to hedge on oil. It's not likely any of these would wish to scrap the NYMEX, or tighten the rules to the game, because - like the loose rules that stoked this recession to begin with - many scoundrels made oceans of money on this, and will lobby aggressively to maintain the system that favor the status quo. As Obama's somewhat tepid regulation reform has demonstrated: money doesn't discriminate, it cares nothing for political allegiance, it's color blind and ideologically indifferent in its lobbying crusade.<br /><br />Oil is going to come down; it's practically common knowledge inventories are oversupplied, and demand is weak. Supply and demand fundamentals can be fooled with for only so long...Bloggin' Brewskiehttps://www.blogger.com/profile/06117891792945288480noreply@blogger.comtag:blogger.com,1999:blog-6522376676055666486.post-67013823671227805192009-07-08T17:19:11.851-07:002009-07-08T17:19:11.851-07:00Here is what I don't get about libs or conserv...Here is what I don't get about libs or conservatives: Okay, we have a NYMEX, and oil, a product for which demand is price-inelastic, especially in the short-run (say a couple of years or less). <br />Oaky, Russia, and OPEC nations are really rich, have billions in wealth, and have a stake in higher oil prices continuing. <br />It would be the patriotic duty of the Kingdom of Saudi Arabia and Putin of Russia to game the NYMEX. It would also be easy, and it would make economic sense for them to do so. The have no ethical concerns in this regard.<br />So...of course we must expect they would at least try to game the NYMEX, and we should try to determine by what methods they would. <br />This is not a lib-con issue. It is only common sense. B ColeAnonymousnoreply@blogger.com