PHIL BOYER: 40% OF AOPA MEMBERS ARE SIGNIFICANTLY DECREASING THEIR FLYING DUE TO FUEL PRICES

On Sun, 15 Jun 2008 23:05:53 +0200, Martin Hotze
wrote in :

kontiki schrieb:
I just think its stupid to bankrupt a nation
for the sake of a religion... and observe nation that *are* producing
energy soak up money from hard working Americans.... when it doesn't
have to be that way.

1) What do you want to do? It's their oil. For sure it is not yours or ours.

While there is little doubt that OPEC is setting the price of their
product at the highest point they feel consumers can bear, that isn't
the real cause of the astronomical rise in prices. From what I've
heard, about 50% of the price of crude oil is the result of wall
street investors moving their wealth out of dollar denominated bonds
and other instruments (because of the threat of the dollar's continued
devaluation) and moving it into inflation-proof commodities (oil).
That creates an exaggerated demand, that raises oil prices, that
increases inflation, that further weakens the dollar, that .... So,
although OPEC naturally shares some of the blame for high fuel prices,
you can thank wall street brokers and wealthy investors for the lion
share of the price increase. And the Chevron/Exxon/Shell/BP/... are
raping, er.. reaping the benefit. So it would seem that we are the
victims of the wealthy and big business; what else is new?

2) What will you/we (in 1 or in 10 or in 50 generations?) do when all
the oil is gone?

Are you so naïve as to believe the public is capable of, or indeed
even interested in, thinking ahead and planning for the future? And
where is our governmental leadership in our time of need? They're
probably busy transferring their wealth into euros and inflation-proof
commodities. :-(

Larry Dighera wrote:

While there is little doubt that OPEC is setting the price of their
product at the highest point they feel consumers can bear, that isn't
the real cause of the astronomical rise in prices. From what I've
heard, about 50% of the price of crude oil is the result of wall
street investors moving their wealth out of dollar denominated bonds
and other instruments (because of the threat of the dollar's continued
devaluation) and moving it into inflation-proof commodities (oil).
That creates an exaggerated demand, that raises oil prices, that
increases inflation, that further weakens the dollar, that .... So,
although OPEC naturally shares some of the blame for high fuel prices,
you can thank wall street brokers and wealthy investors for the lion
share of the price increase. And the Chevron/Exxon/Shell/BP/... are
raping, er.. reaping the benefit. So it would seem that we are the
victims of the wealthy and big business; what else is new?


Why should OPEC 'share some of the blame' for other people's stupidity?
The fact is that the value of the dollar is akin to the price of a stock
in a corporation. If you have *any* savvy at all in buying stock you
would know that you look at the fundamentals of a corporation to help
determine the value of its stock. Who are are the executives, what is
the corporate philosophy, do they have a sound plan for growth, and are
they trying to mitigate future obligations and exposures?

If you answer these question honestly you will see the reason for the
fall in value of the US dollar.

2) What will you/we (in 1 or in 10 or in 50 generations?) do when all
the oil is gone?

Are you so naïve as to believe the public is capable of, or indeed
even interested in, thinking ahead and planning for the future? And
where is our governmental leadership in our time of need? They're
probably busy transferring their wealth into euros and inflation-proof
commodities. :-(



I believe that those in power of the United States government do not
think those they rule are (to quote yourself..) "... capable of, or
indeed even interested in, thinking ahead and planning for the future?"

People like you, who blindly pay homage to those in government, are what
has brought us to this situation. That will change...

Isn't this the same arguments I heard 30 years ago?
Lou

Maybe if George Bush hadn't vetoed drilling in ANWR back in 1995 and
worked so hard to put so many areas off limits to drilling, we would
be swimming in oil now. I sure hope I get my share of the windfall
profit tax on the oil companies so I can spend $30-40,000 to put solar
panels on my house and fly my airplane more often, too.

DF

uh, clinton was in office in 1995...

Really! Well, he and Dick Cheney must have put him up to it. Bill
was always looking out for the little guys.

DF

Lou wrote:

Isn't this the same arguments I heard 30 years ago?


Pretty much. A few days ago I heard Obama and McCain surrogates discussing
gasoline prices. The McCain surrogate advocated increased domestic oil
production and refining capacity. The Obama surrogate countered it would be
ten years before that had any effect and Americans wanted answers today.
The fact that the Democratic party has held that position since at least the
Carter administration was completely lost on him.

wrote:

Maybe if George Bush hadn't vetoed drilling in ANWR back in 1995 and
worked so hard to put so many areas off limits to drilling, we would
be swimming in oil now. I sure hope I get my share of the windfall
profit tax on the oil companies so I can spend $30-40,000 to put solar
panels on my house and fly my airplane more often, too.


How does the governor of Texas veto oil drilling in Alaska?

wrote:

Really! Well, he and Dick Cheney must have put him up to it. Bill
was always looking out for the little guys.


Bill was always looking out for himself and never for anyone else.

Steven P. McNicoll wrote:
Isn't this the same arguments I heard 30 years ago?

Pretty much. A few days ago I heard Obama and McCain surrogates discussing
gasoline prices. The McCain surrogate advocated increased domestic oil
production and refining capacity. The Obama surrogate countered it would be
ten years before that had any effect and Americans wanted answers today.
The fact that the Democratic party has held that position since at least the
Carter administration was completely lost on him.

What I really fear is that some pandering politician (doesn't matter which
party) is going to attempt to regulate fuel prices in the U.S. It's bad
enough paying $4/gal, but it sure beats waiting in a line of 50 cars in order
to pay $3.80/gal. It was a dismal failure in the 70s, but it's not beyond
the realm of possiblility that some future president will revive the idea in
order to appear to be "doing something" about fuel prices. Much like some of
the ridiculous post-9/11 security measures.

John Galban=====N4BQ (PA28-180)

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Larry Dighera wrote:

While there is little doubt that OPEC is setting the price of their
product at the highest point they feel consumers can bear, that isn't
the real cause of the astronomical rise in prices. From what I've
heard, about 50% of the price of crude oil is the result of wall
street investors moving their wealth out of dollar denominated bonds
and other instruments (because of the threat of the dollar's continued
devaluation) and moving it into inflation-proof commodities (oil).
That creates an exaggerated demand, that raises oil prices, that
increases inflation, that further weakens the dollar, that .... So,
although OPEC naturally shares some of the blame for high fuel prices,
you can thank wall street brokers and wealthy investors for the lion
share of the price increase. And the Chevron/Exxon/Shell/BP/... are
raping, er.. reaping the benefit. So it would seem that we are the
victims of the wealthy and big business; what else is new?

How does OPEC share any blame in this? The have not cut production quotas.
They do not set prices, only production quotas. World commodities markets
set the price.

You correctly identified the culprits as the speculators in the commodities
market. The flight from U.S. dollar based investments into commodities (by
largely unregulated hedge funds) means that trillions of new money have
entered those markets. Much like the stock market bubble of the 90s and the
recent housing bubble, this causes prices to reach unrealistic (and
ultimately unsustainable) levels.

This is very obvious when you look at non-oil commodities like copper,
steel, gold, corn, etc... It's not just oil prices that have gone through
the roof.

John Galban=====N4BQ (PA28-180)

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