Will Limits On Speculation Curb Oil Prices?

[ray23]

http://www.bloomberg.com/apps/news?pid=206...&refer=home

Well it has for a few hours anyway and it's not law yet.

However that only covers one market in the world. something like throwing a pebble in a pond yes it creates wave. But, eventually they just go away.

I believe oil moved for two reasons yesterday, one Libya is cutting production.

Two The fed left interest rates in place and did not raise them.

So I think the answer really lies in in either increasing the value of the dollar, not a easy prospect. Or, changing the currency with which is purchased. As an American I really don't like that idea. But. sometimes things are what they are and there are not many choices.

Per Bloomberg and the BBC Asian stocks dropped 3% in one day.

This is really a tough one for the entire world with the exception of Oil producing countries, if you knopw of any product in the world the is not dependent on oil, that the average consumer use I certianly don't know what it is.

The shame we had a taste of this in the 70's and learned nothing. 396 Chevy Malibu's replaced by the Vega. Buying fuel on odd and even days a nationwide speed limit of 55 MPH. Because it went over one dollar a gallon.

That was the wakeup call we didn't listen. When the crisis went away the age of the SUV hit, nationwide speed limit went away some places the speed limit doesn't exist these days and some are actually posted at 80 MPH.

The techonolgy wasn't really developed as it could have been, to provide alternatives.

Any bets on when the crisis lessons anyone will remember in two years?

The fact is I may have loved that 396 engine a real charge to drive. But, oil is a limited resource and when it's finished it's finished. If we have not prepared the world will come to a stand still.

I'm not saying that is happening today, but what world are we going to leave for the generations to come.

At the moment we are in a heck of a mess that is going to take years to work our way out of.