No Shame From Wall Street
Tim Williams
May 02, 2011
I don't know about the rest of us but I for one have had enough of the continued disregard of the publics trust from our legislatures particularly in the way that the prices we all pay at the pump have driven the cost of everything that is essential out of reach for so many. The price of our basic needs continues to escalate at astonishing rates never before seen. When our own government is so powerless to step in to contain the price of oil and gas only solidifies my contempt for governmental legislatures who are already in the pocketbooks of the major oil companies anyway.
There is really something drastically wrong with the government when the citizens whom they are sworn to serve acknowledges that there is little they as a collective body can do to relieve the pain at the pump. It seems to be that our own government has become so unsympathetic and even very callous toward the constituency in which they serve. "We the people" are continually being swept up in a vicious cycle of continued economic deprivation. The actual numbers of citizens who are faced with unparallel economic uncertainty is astounding. What makes this such a travesty is that the powers that be who continue to garnish and horde vast amounts of crude futures only to drive up prices of gasoline are unwittingly spelling doom for themselves. This is because eventually if these prices continue to rise many more industries, and people will be forced out of business altogether or bankrupt where no matter what the price is they will no longer be in a position to actually buy that fuel.
The greed of Wall Street has no shame, no apparent ethics either, and virtually no remorse in the way that they are willing to go to any extreme in grabbing more wealth. To add salt to the wounds of so many millions who are caught in this hurricane of economic control by investors our very own government is actually an accomplice in the way that they have refused to act decisively and is continually failing the publics and the countries best interests.
It is no wonder that over 80% of the total population of the United States now think of those so-called Guru's in Washington as so in step with the wealthiest few in Wall Street and would if given the chance today vote all of these "Wizards" out of office. With such an ineffectual body of governmental legislatures in office today saying there is little they can do to stop the hemorrhaging of the majority of American pocketbooks from flowing into the coffers of a few investors strike a discord of malfeasance and out right theft of the American citizens.
What started back in 1983 when crude oil began trading on the NYMEX little did we all realize that today crude oil would become the most heavily traded and most sought after commodity. What makes this all so compelling and dangerous to our whole economy is that oil futures are based on future supply demands as far ahead as 10 years from now. This assumption that oil will become so scarce that today the markets reflect on that scarcity. Thus driving the price even higher.
The whole concept on future commodities is based on assumptions, some factual, some fabricated, and some with reservations. Oil right now is in plentiful supply right here within the United States. To create an allusion on the premise that oil will be so scarce in the immediate future just to justify price increases is today a genuine fraud of the general publics trust. Malfeasance of the most blatant, most contemptuous, and most malicious intent of defrauding of the American public when in fact oil will continue to be readily available now and in the foreseeable future.
One of the greatest concerns is that the tragedy of last years oil spill in the Gulf poisoned an awful lot of citizens that we should focus our endeavors on other sources of fuel. Granted there has to be an all out effort for renewable alternate fuel sources. But until such a time that the United States has over 90% of all vehicles on the road equipped with using readily available low cost alternate fuel, oil has to be drilled, refined, processed and delivered everywhere.
To continue to borrow billions of dollars to purchase foreign fuel is a lesson in futility not frugality. The facts have to be presented to every one that oil is still very much a vital internal part of the immediate future for our whole economy. Oil futures have to be inline with the facts not on assumptions of future shortages.
As for the immediate reprieve from the pain at the pump today immediate action has to come form our President in leading the way by releasing at random certain amounts of oil reserves into circulation at random intervals with mandatory cost constraints in reducing the cost of gas today. Also there has to be a national awareness that oil whether it is from offshore drilling in the gulf or form Alaska has to be encouraged to make up the vast amounts of borrowed money going to foreign countries in stimulating their economy instead of ours. All of this plus the auto industry has to recognize the facts that producing more fuel efficient cars using alternate fuel like natural gas will in fact increase productivity and expand our whole economy. Had the Pickens Energy Plan been in place when it was first introduced the United States would now be faced with a much brighter future. Decisive action is required now to stave off a festering catastrophe in the making.
There is really something drastically wrong with the government when the citizens whom they are sworn to serve acknowledges that there is little they as a collective body can do to relieve the pain at the pump. It seems to be that our own government has become so unsympathetic and even very callous toward the constituency in which they serve. "We the people" are continually being swept up in a vicious cycle of continued economic deprivation. The actual numbers of citizens who are faced with unparallel economic uncertainty is astounding. What makes this such a travesty is that the powers that be who continue to garnish and horde vast amounts of crude futures only to drive up prices of gasoline are unwittingly spelling doom for themselves. This is because eventually if these prices continue to rise many more industries, and people will be forced out of business altogether or bankrupt where no matter what the price is they will no longer be in a position to actually buy that fuel.
The greed of Wall Street has no shame, no apparent ethics either, and virtually no remorse in the way that they are willing to go to any extreme in grabbing more wealth. To add salt to the wounds of so many millions who are caught in this hurricane of economic control by investors our very own government is actually an accomplice in the way that they have refused to act decisively and is continually failing the publics and the countries best interests.
It is no wonder that over 80% of the total population of the United States now think of those so-called Guru's in Washington as so in step with the wealthiest few in Wall Street and would if given the chance today vote all of these "Wizards" out of office. With such an ineffectual body of governmental legislatures in office today saying there is little they can do to stop the hemorrhaging of the majority of American pocketbooks from flowing into the coffers of a few investors strike a discord of malfeasance and out right theft of the American citizens.
What started back in 1983 when crude oil began trading on the NYMEX little did we all realize that today crude oil would become the most heavily traded and most sought after commodity. What makes this all so compelling and dangerous to our whole economy is that oil futures are based on future supply demands as far ahead as 10 years from now. This assumption that oil will become so scarce that today the markets reflect on that scarcity. Thus driving the price even higher.
The whole concept on future commodities is based on assumptions, some factual, some fabricated, and some with reservations. Oil right now is in plentiful supply right here within the United States. To create an allusion on the premise that oil will be so scarce in the immediate future just to justify price increases is today a genuine fraud of the general publics trust. Malfeasance of the most blatant, most contemptuous, and most malicious intent of defrauding of the American public when in fact oil will continue to be readily available now and in the foreseeable future.
One of the greatest concerns is that the tragedy of last years oil spill in the Gulf poisoned an awful lot of citizens that we should focus our endeavors on other sources of fuel. Granted there has to be an all out effort for renewable alternate fuel sources. But until such a time that the United States has over 90% of all vehicles on the road equipped with using readily available low cost alternate fuel, oil has to be drilled, refined, processed and delivered everywhere.
To continue to borrow billions of dollars to purchase foreign fuel is a lesson in futility not frugality. The facts have to be presented to every one that oil is still very much a vital internal part of the immediate future for our whole economy. Oil futures have to be inline with the facts not on assumptions of future shortages.
As for the immediate reprieve from the pain at the pump today immediate action has to come form our President in leading the way by releasing at random certain amounts of oil reserves into circulation at random intervals with mandatory cost constraints in reducing the cost of gas today. Also there has to be a national awareness that oil whether it is from offshore drilling in the gulf or form Alaska has to be encouraged to make up the vast amounts of borrowed money going to foreign countries in stimulating their economy instead of ours. All of this plus the auto industry has to recognize the facts that producing more fuel efficient cars using alternate fuel like natural gas will in fact increase productivity and expand our whole economy. Had the Pickens Energy Plan been in place when it was first introduced the United States would now be faced with a much brighter future. Decisive action is required now to stave off a festering catastrophe in the making.
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