RE: Why is oil anywhere around $100 bbl. ?

RE: Why is oil anywhere around $100 bbl. ? (Full Version)

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Politesub53 -> RE: Why is oil anywhere around $100 bbl. ? (1/12/2012 10:51:00 AM)
quote: ORIGINAL: MrRodgers quote: ORIGINAL: Politesub53 You fully miss the point. Speculators operate in a global market, they will sell oil to the highest bidder. The only speculators your Government can possibly tax are those who pay income on earnings in the US. Your link changes nothing and in fact reinforces my point. TAX IT !! Yes, e v e r y b o d y operates in a global market but companies and individuals pay taxes. The Eurozone is considering just such a tax, you make any money on paper-trading at all, it may become subject to their highest income tax. It should 50% and ours should be 50%. It's a simple equation, taxing it just like you tax any other income except it should be higher because this kind of trading serves no one but the profiteer while this non-productive price speculation hurts society. This redirects investments and income toward something that is productive, rather than simply paper-trading. It is the paper-trading that accumulates risk and when taken too far...risk that could begin to spread to that global market. So how do you stop sepculators selling it to say, China ? You would need to stop any American firm from operating overseas. Like it or not, it cant be done.

Musicmystery -> RE: Why is oil anywhere around $100 bbl. ? (1/12/2012 10:58:03 AM)
Further, even if you could, that would just move profit seeking speculation from the stock market to commodities to something else, and then we'd be discussing the high price of that. Untangle the banking/transparency mess, and things will start flowing back to normal--including business investment in place of speculating.

FatDomDaddy -> RE: Why is oil anywhere around $100 bbl. ? (1/13/2012 12:31:12 PM)
quote: ORIGINAL: Politesub53 How can you tax oil that isnt yours ? It is a global market and oil producers will just sell it where they can get the best deal. This is why many Middle Eastern producers want to switch to dealing in Euros and not Dollars. Yeah... like the Euro and its Union will be around in three weeks!

Musicmystery -> RE: Why is oil anywhere around $100 bbl. ? (1/13/2012 2:32:58 PM)
The EU is 30% of global GDP. Of course it will be around.

Politesub53 -> RE: Why is oil anywhere around $100 bbl. ? (1/13/2012 3:55:15 PM)
quote: ORIGINAL: FatDomDaddy quote: ORIGINAL: Politesub53 How can you tax oil that isnt yours ? It is a global market and oil producers will just sell it where they can get the best deal. This is why many Middle Eastern producers want to switch to dealing in Euros and not Dollars. Yeah... like the Euro and its Union will be around in three weeks! If the Euro goes tits up things will get worse for the US and not better. Reason being US exports will take a hit, along with financial institutions.

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