tag:blogger.com,1999:blog-6616959642391988608.post4396532485492041239..comments2024-03-28T00:18:25.641-07:00Comments on Calafia Beach Pundit: The ridiculous attack on oil speculatorsScott Grannishttp://www.blogger.com/profile/14028519647946868684noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-6616959642391988608.post-13916133693860043152009-07-14T08:57:19.227-07:002009-07-14T08:57:19.227-07:00"Heaven help us all if it comes to that."..."Heaven help us all if it comes to that."<br /><br />See Venezuela and Mexico for an idea of what will happen.__https://www.blogger.com/profile/18426730906924848636noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-16125839284577625872009-07-08T10:47:44.089-07:002009-07-08T10:47:44.089-07:00This goes along with the Feds belief they can micr...This goes along with the Feds belief they can micromanage the macro monetary environment in the US and by default the Globe. <br /><br />We are transitioning into a new era of re-regulation at a time when governments are primarily responsible for the current disasters. <br /><br />Good luck! Bonds, commodities, non$, and EMG.Public Libraryhttps://www.blogger.com/profile/00017383928897945054noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-91108795053098464132009-07-08T10:03:46.369-07:002009-07-08T10:03:46.369-07:00Ilene: It's arguable whether speculators have ...Ilene: It's arguable whether speculators have the power to manipulate prices, especially in the oil market. But the larger truth is that speculators are essential to efficient markets. They provide liquidity to markets and their activity (buying low and selling high) tends to dampen price volatility.Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-548426724021687452009-07-08T09:58:56.521-07:002009-07-08T09:58:56.521-07:00Colin: Even though governments control a large por...Colin: Even though governments control a large portion of the world's oil, that doesn't mean the oil reserves are not managed. The Arabs have elaborate models with which they try to balance production against the net present value of their reserves. OPEC quotas never seem to work because they aren't always in the best interests of each member. No government can afford to ignore the Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-37586867221580528712009-07-08T09:38:57.877-07:002009-07-08T09:38:57.877-07:00And of course if producers think prices are going ...<i>And of course if producers think prices are going down they can simply pump more, again overwhelming speculative activity in the futures markets.</i><br /><br />In fairness, let's keep in mind that something like 85% of reserves are owned by governments, so market forces aren't at play as much as they should be.Colinhttps://www.blogger.com/profile/03573575140584770666noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-40680142919434906222009-07-08T09:00:40.261-07:002009-07-08T09:00:40.261-07:00Hi Scott,
Do you see a difference between specul...Hi Scott, <br /><br />Do you see a difference between speculation for economic purposes vs. price manipulation using excessive speculation as a means?ilenehttps://www.blogger.com/profile/00859456411740769913noreply@blogger.com