Saturday, May 24, 2008

Using Oil To Sway Elections

In an article in the Associated Press the authors try to explain how high prices at the pumps got to where they are today. They left out a couple of things. They didn't explain who are the investors buying "futures" in the oil market and how easy it is for the price to be manipulated by just a couple of countries like Venezuela and Iran to withhold oil from some or all of the world market. They explain that investors are simply buying oil today that will be delivered in July betting that the price for oil will be higher in July and make them a tidy profit. How many people can really take a gamble like this? Has the trading in commodities become nothing more than playing craps at a Vegas Casino? Or could it be billionaires like the following are secretly buying up the futures in oil to increase the price and convince the public that it is all President Bush and the Republican Party's fault?

Ask yourself how many of the worlds billionaires would it take to manipulate the market and the price of oil in order to gain control of the economy? At present Forbes list 897 families and individuals around the world as billionaires. Over 400 are American citizens. These are the people that can afford to gamble on the price of oil continuing to increase, not the common everyday investor. A reduction in the price of oil to them is nothing more than another tax write off. A large reduction in the price come June or July for the common investor could be a disaster. Consider if you bought futures in oil today for $135.00 a barrel and the price dropped to $80.00 over a 1 or 2 week period, what would happen to the common investor? Now consider how it would effect these billionaires. A prominent group of American billionaires and millionaires that are doing everything in their power to elect Democrats into Congress and the White House is the Democracy Alliance group. Would it be too far fetched to believe this group would invest heavily to manipulate the market if it meant gaining control of our government?

The rhetoric coming out of the Democrats in Congress and the Liberal media is nothing new. We went through the same game with the oil embargo in the 70s. Carter blamed Americans for waste and over consuming with their big cars, remember him sitting in the White House telling Americans to drive less and put on an extra sweater like he was wearing. It only took the election of President Reagan for the embargo to be lifted and cost of oil to come down. Why, because the world understood we had a strong President that would not back down from extortion and threats from other countries. Will Americans allow themselves to be manipulated and swayed into false hopes and promises by a few self interested and greedy billionaires? Only time will tell.

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