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View Full Version : Haley Barbour Is A LIAR! Repigs R Disgusting!



Gayle in MD
06-08-2011, 02:23 AM
<span style="color: #990000"> <span style='font-size: 11pt'>Who does this lard A$$ think he's kidding.

He was on Face The Nation, Accusing the President, of driving up the price of Oil/Gas.

More Repiglican lies, accusing others of exactly their own underhanded behavior.

The Cheney/Halliburton loophole, led to these opportunities for those like the Koch thieves to steal from all of us, and DESTROY the environment, and now, The filthy Grand Oil Party, is blaming Obama!

So Koch is getting seventy five cents of every dollar we pay for gas?

Unbelievable! </span> </span>



http://www.newburyportnews.com/opinion/x833657534/GOP-gutting-environmental-protection



May 4, 2011

GOP gutting environmental protection
The Daily News of Newburyport Wed May 04, 2011, 03:54 AM EDT


To the editor:

Since the tea partyers haven't managed to take away Earth Day (although I'm sure it's on the chopping block right next to tax day and MLK day), those of us who believe clean air and water is an entitlement our children deserve should call out Republicans for their reprehensible attacks on our environment. As the BP horrors still swirl in the Gulf and the Texas-sized garbage heap grows in the Pacific, the Republican Party continues their never-ending assault on our air and water. The party that signed the Clean Air Act into law under Nixon is now the No. 1 threat to the environment future generations will inherit.

<span style='font-size: 17pt'>From Bush-era censorship of scientific findings to the tea party puppet master Koch brothers' propaganda, the wars against the most vetted scientific issue of our time are relentless, and the environment is not "winning."</span> Republicans and Democrats should be debating how to combat climate change, but instead we have to suffer the fools in the GOP who show no respect to people who dedicate their lives to studying these issues and therefore deny its existence. Who do you trust, scientists or bought-and-paid-for Republican politicians? Seems like a no-brainer. Then again, common sense isn't so common these days.

Sadly, our own Sen. Brown is no exception to his party's disgusting attacks on our environment, having voted for every single anti-environmental bill since he took office. From the Murkowski amendment to the McConnell amendment, this senator is proving to be a typical dyed-in-the-wool tea party member who gladly takes checks from corporate polluters like the Koch brothers at the expense of our children's asthma attacks. The EPA is the tea party's latest bogeyman, and these bills are designed to gut its authority to regulate carbon emissions, and obviously this is not in the interests of the Republican Party's constant goal of deregulating everything at all costs.

<span style='font-size: 17pt'>One such shining example of deregulation, courtesy of the GOP, is the "Halliburton loophole," which exempts oil and gas companies engaging in hydraulic gas fracturing from all EPA oversight. This process involves pumping benzene, toluene, ethyl benzene and xylene up to 8,000 feet into the ground to extract natural gas, which is then sold back to us as "clean domestic energy." We now have once-pristine rivers that are now flammable, ignitable drinking water coming out of our citizens' kitchen sinks, families, including children suffering from nosebleeds, leukemia, brain tumors and loss of smell and taste. Not surprisingly, not a single Republican will back the fracking bill, which would enable the EPA to move in and regulate this despicable practice.</span>A political leader once said, "While I am a great believer in the free enterprise system and all that it entails, I am an even stronger believer in the right of our people to live in a clean, pollution-free environment." And who was this tree-hugging, radical leftist? Barry Goldwater. Too bad, like the political party he used to represent, he's dead.

Tim Kane

West Newbury



http://www.dailykos.com/story/2011/05/25...il-Manipulation (http://www.dailykos.com/story/2011/05/25/979187/-Will-the-Koch-Brothers-be-Indicted-for-Oil-Manipulation)

Wed May 25, 2011 at 10:19 AM PDT

<span style='font-size: 17pt'>Will the Koch Brothers be Indicted for Oil Manipulation?
<span style='font-size: 17pt'>Gasoline is at $4+ a gallon nationally. Supply is high. Demand is decreasing. So, in a free market, where supply and demand are supposed to be the yin and yang of price control, how does it happen that gas prices stay so high? When the market isn't free. The Koch Brothers aren't just about Right Wing politics. One of their businesses may be making millions by influencing the supply of crude oil.</span>The New York Times reported this morning that the Commodities Futures Trading Commission (CFTC) filed criminal investigations against a handful of small fish for manipulating the prices of oil in the commodity market with the United States Justice Department.</span>


<span style='font-size: 26pt'>"With oil prices climbing again this year, President Obama has asked Attorney General Eric H. Holder Jr. to set up a working group to look into fraud in oil and gas markets and "safeguard against unlawful consumer harm."</span>


<span style="color: #990000"> <span style='font-size: 20pt'>Haley Barbour Is A LIAR! </span> </span>

"In the case filed Tuesday, the defendants -- James T. Dyer of Australia, Nicholas J. Wildgoose of Rancho Santa Fe, Calif., and three related companies, Parnon Energy of California, Arcadia Petroleum of Britain and Arcadia Energy, a Swiss company -- have told regulators they deny they manipulated the market.

"If the United States proves the claims, the defendants may give up $50 million in profits that were believed to be made as a result of the manipulation and also pay a penalty of up to $150 million."

<span style="color: #990000"> <span style='font-size: 17pt'>50 million? Big Deal! </span> </span>
<span style='font-size: 26pt'>
In my blog yesterday at my Truth-2-Power.com, "Things Get Worse With Koch: Tea Party Pumps Up $4 Gas" I connect the dots between the Koch Brothers' lavish giving to more than 80 ultra-Right organizations that stoke the Tea Party and their vision of "reduced government" that turns a blind eye to the practices that they helped to invent that seem to jerry the commodities market in oil to their advantage, where they reap hundreds of millions for their political investment</span>.

Why would they spend those millions on manipulating the Congress and possibly the White House? The connect-the-dots answer as to why the Koch Brothers lavish money on ultra-Right political action groups and candidates is simple: Koch Supply & Trading, a unit of Koch Industries, is one of the top five players in the oil commodity game. They not only buy millions of barrels, but they employ an acquisition and selling strategy that may artificially inflate the value of that oil enough that more than forty cents of your oil price could be traced back to their activities in the commodities market.

Traders like the Koch Brothers' firm can buy millions of barrels of oil that would normally head straight to refineries when the price of oil is low. The Koch firms that deal in oil also have clients whom they advise to either do the same, or buy into index funds that track oil as a commodity.

A "contango strategy" is used. Take millions of barrels of oil out of the supply chain. Park it in storage tanks and even in multi-million barrel super tankers that sit idling as storage.

The supply side dries up artificially against the demand, driving the price of that oil up, sometimes as much as 50%, as it did in 2008.

The people and companies gaming the system then sell the oil at the higher price. These, and their clients, or those they advise, also cash in on investments in the oil indexes that track the price of the commodity.

In 2008, Jon Birger at Fortune wrote in his article:

"Based on the estimates I've seen, a 200,000 barrel-a-day decrease in supply could raise gasoline prices by anywhere from 20 to 40 cents a gallon."
Do that with a million barrels and you could raise prices by 2.00 or more.


The "less government" mantra is all about less regulation and oversight. Fewer eyes and fewer rules allow big commodity traders like the Koch Brothers to manipulate the price of that commodity. The extra millions that they reap in profits in turn escalate the cost of gasoline, then foodstuffs, other goods and services. It puts even more hardship on the already hard pressed middle class.

The irony is that companies like those run by the Koch Brothers are not only driving up the price of gasoline and every foodstuff, goods or service, but that they are sticking it to the same Tea Party zealots who are blindly backstopping their call for the smaller government that will allow them to get away with it. They also have the mindless minions out there supporting their 3% tax break on those millions.

Forrest Gump was right: Stupid is as stupid does.

Read more about Contango Strategy and its impact on government and the economy at my blog. You'll see the admission by a top employee of the Koch Brothers that they engage in these kinds of market manipulations.

Then email the Justice Department and demand that the Koch Brothers be investigated along with the others whom they suspect of manipulating the market. askdoj@usdoj.gov

My shiny two.






http://www.nytimes.com/2011/05/25/business/global/25oil.html?_r=1&ref=business

By GRAHAM BOWLEY
Published: May 24, 2011
After oil prices surged past $100 a barrel in 2008, suspicions that traders had manipulated the market led to Congressional hearings and regulatory investigations. But they produced no solid cases in the record run-up in gasoline prices.

But on Tuesday, federal commodities regulators filed a civil lawsuit against two obscure traders in Australia and California and three American and international firms.

The suit says that in early 2008 they tried to hoard nearly two-thirds of the available supply of a crucial American market for crude oil, then abruptly dumped it and improperly pocketed $50 million.

The regulators from the Commodity Futures Trading Commission would not say whether the agency was conducting any other investigations into oil speculation. With oil prices climbing again this year, President Obama has asked Attorney General Eric H. Holder Jr. to set up a working group to look into fraud in oil and gas markets and “safeguard against unlawful consumer harm.”

In the case filed Tuesday, the defendants — James T. Dyer of Australia, Nicholas J. Wildgoose of Rancho Santa Fe, Calif., and three related companies, Parnon Energy of California, Arcadia Petroleum of Britain and Arcadia Energy, a Swiss company — have told regulators they deny they manipulated the market.

If the United States proves the claims, the defendants may give up $50 million in profits that were believed to be made as a result of the manipulation and also pay a penalty of up to $150 million.

The commodities agency says the case involves a complex scheme that relied on the close relationship between physical oil prices and the prices of financial futures, which move in parallel.

In a matter of a few weeks in January 2008, the defendants built up large positions in the oil futures market on exchanges in New York and London, according to the suit, filed in the Federal Court in the Southern District of New York.

At the same time, they bought millions of barrels of physical crude oil at Cushing, Okla., one of the main delivery sites for West Texas Intermediate, the benchmark for American oil, the suit says. They bought the oil even though they had no commercial need for it, giving the market the impression of a shortage, the complaint says.

At one point they had such a dominant position that they owned about 4.6 million barrels of crude oil, estimating that this represented two-thirds of the seven million barrels of excess oil then available at Cushing, according to lawsuits.

This type of oil is also the main driver of prices of the futures contracts, and their actions caused futures prices to rise, the authorities say. “They wanted to lull market participants into believing that supply would remain tight,” the agency said. “They knew that as long as the market believed that supply was tight and getting even tighter, there would be upward pressure on the prices of W.T.I. for February delivery relative to March delivery, which was their goal.”

The traders in mid-January cashed out their futures position, and then a few days later began to bet on a decline in oil futures, with Mr. Wildgoose remarking in an e-mail about the “inevitable puking” of their position on an unsuspecting market, the federal lawsuit says.

In one day, Jan. 25, they then dumped most of their holdings of West Texas Intermediate oil, and profited by the drop in futures.

The traders repeated the buying and selling in March 2008, and were preparing to do it again in April but stopped when investigators contacted them for information, the suit says.

Between January and April, average gas prices rose roughly to $3.50 a gallon, from $3. It was not until later in 2008, after the defendants had ceased their reported actions, that oil prices soared higher — reaching $145 that July. By the end of the year, prices had fallen to about $44. The Texas oil is now around $100.

Many other factors were at work, including tight oil supplies in the Middle East and fears that a growing global economy would consume more oil. Yet the enforcement action by the commodities regulator was the first credible evidence that a small group of traders also played a role in manipulating prices.

“This will help to satisfy the desire to find a culprit and throw them under the wheels of justice,” said Michael Lynch, an oil market specialist at Strategic Energy and Economic Research, a consulting firm.

Calls to Arcadia Petroleum in London were not immediately returned. A person who answered the phone at Arcadia Energy in Switzerland said that he was unaware of the complaints and that Mr. Dyer and Mr. Wildgoose were on vacation and unavailable for comment.

In the last few years, the commission has settled a handful of cases of manipulation in the natural gas market.

In 2007, it settled charges for $1 million against the Marathon Petroleum Company for trying to manipulate West Texas Intermediate crude oil in 2003.

The agency brought an action similar to its latest case in 2008, asserting that Optiver Holding, a proprietary trading fund based in the Netherlands with a Chicago affiliate, used a trading program in 2007 to issue orders to manipulate the crude oil market. The case is pending. It involved claims of manipulation of futures contracts for light sweet crude, New York Harbor heating oil and New York Harbor gasoline.

LWW
06-08-2011, 03:09 AM
What an astounding display of economic ignorance that article was.

Yes, if you control and horde supply you can drive the price up. The problem is that as soon as you release the supply, the price crashes.

You temporarily have on paper profits as the oil, in this example, sitting in tanks will have tremendous on the books value ... but the profits can never be realized in the real world.

Ask the Hunt brothers how that type of strategy works out in reality.

That being said, these types of scare stories always play well with the crowd that sees capitalism as the boogity man and the state as salvation.

pooltchr
06-08-2011, 06:51 AM
Obama told us he would bring our domestic gasoline prices more in line with the rest of the world. Now that it's happening, I don't understand why the Obamatrons aren't claiming this as a huge success for him. One of the few promises he has actually kept.

Steve

LWW
06-08-2011, 07:29 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: pooltchr</div><div class="ubbcode-body">Obama told us he would bring our domestic gasoline prices more in line with the rest of the world. Now that it's happening, I don't understand why the Obamatrons aren't claiming this as a huge success for him. One of the few promises he has actually kept.

Steve </div></div>

Because in their brainwashed state:

1 - It's "TRUTH" that Bush caused high prices and that's bad.

2 - It's "TRUTH" that dear leader wants higher prices and that's good.

3 - It's "TRUTH" that the Carter energy plan, which included US drilling and increased coal use, was good.

4 - It's "TRUTH" that the Bush energy plan was bad because it included US drilling and increased coal use, and that's bad.

5 - It's "TRUTH" that big oil backed Bush and that's bad.

6 - It's "TRUTH" that big oil backed dear leader and that's good.

7 - It's "TRUTH" that Bush was a "BIG OIL AND COAL TYCOON" because he owned no oil, wells, or stocks.

8 - It's TRUTH" that Al Gore was an enemy of "BIG OIL" and "BIG COAL" by the fortune he accumulated from Occidental Petroleum and the oil and copal business ... including ignoring tribal lands and endangered species.