Nabuquduriuzhur“It’s another type of gambling like derivatives and similar schemes.”.“Wasn’t many years ago that investors invested in new manufacturing, new technology, and new ideas. Today, it’s gamble the money, which doesn’t create anything new”.They are obviously talking about spilled petroleum and how it kills birds. Companies don’t intentionally spill oil because they can’t sell it and it costs them money in fines, but workers are sometimes careless..All that aside, buying futures is gambling the same way planting a crop is. You assume you will be able to sell what you buy and pay the price if you are wrong. For hundreds of years, ships have sailed to distant ports gambling they could buy desired goods, not be sunk by storm, raided by pirates, destroyed by fire or mutiny..For oil futures, companies drill and complete oil wells, lay pipelines, build refineries, hire workers, keep things moving..Just because you can’t see it doesn’t mean it isn’t helping.
“Why were there tar balls on beaches world wide before there was offshore drilling?”.Because oil seeps reach the bottom of the gulf or ocean or the surface of dry land. There are animals in the Gulf of Mexico evolved to live on the seeping oil. (They look like sticks.).The leaked oil/petroleum mixes with sand to form tar balls. The hydrocarbon portion acts as a cementing factor like asphalt in tarmac.
I don’t have a problem with the futures markets – they fill a real need, for farmers who want to lock in their profit, or businessmen who need foreign currencies to pay for products at a date certain. My quarrel is with the whole idea of government regulating businesses, as if bureaucrats are useful for the economy. Need only two laws: one punishing actual fraud, and one punishing collusion (which is fraud on the market.) All others are wholly unnecessary.
Agent54 about 9 years ago
oil futures – a dying art
Prey about 9 years ago
Oil futures, water pasts acrilic presents(ie plastic toys for xmas)
jtviper7 about 9 years ago
I never saw seagulls over ’ The La Bra Tar Pits ’…
Dewed about 9 years ago
oil futures … the result of eating burritos
David Huie Green LosersBlameOthers&It'sYOURfault about 9 years ago
Nabuquduriuzhur“It’s another type of gambling like derivatives and similar schemes.”.“Wasn’t many years ago that investors invested in new manufacturing, new technology, and new ideas. Today, it’s gamble the money, which doesn’t create anything new”.They are obviously talking about spilled petroleum and how it kills birds. Companies don’t intentionally spill oil because they can’t sell it and it costs them money in fines, but workers are sometimes careless..All that aside, buying futures is gambling the same way planting a crop is. You assume you will be able to sell what you buy and pay the price if you are wrong. For hundreds of years, ships have sailed to distant ports gambling they could buy desired goods, not be sunk by storm, raided by pirates, destroyed by fire or mutiny..For oil futures, companies drill and complete oil wells, lay pipelines, build refineries, hire workers, keep things moving..Just because you can’t see it doesn’t mean it isn’t helping.
David Huie Green LosersBlameOthers&It'sYOURfault about 9 years ago
“Why were there tar balls on beaches world wide before there was offshore drilling?”.Because oil seeps reach the bottom of the gulf or ocean or the surface of dry land. There are animals in the Gulf of Mexico evolved to live on the seeping oil. (They look like sticks.).The leaked oil/petroleum mixes with sand to form tar balls. The hydrocarbon portion acts as a cementing factor like asphalt in tarmac.
goweeder about 9 years ago
“Why were there tar balls on beaches world wide before there was offshore drilling?Or any drilling for that matter?”~~~~~~~~~~~~~~~~~~~~You’re weird !
Jim Kerner about 9 years ago
Not just sea gulls. But, all living creatures as well.
jbmlaw01 about 9 years ago
I don’t have a problem with the futures markets – they fill a real need, for farmers who want to lock in their profit, or businessmen who need foreign currencies to pay for products at a date certain. My quarrel is with the whole idea of government regulating businesses, as if bureaucrats are useful for the economy. Need only two laws: one punishing actual fraud, and one punishing collusion (which is fraud on the market.) All others are wholly unnecessary.