The Ripple Effect from Oil Speculation

I would like to know WHAT our elected leaders are doing to help Americans with fuel prices. Please do not talk to me about supply and demand. Our supplies are at a high – we have put gasoline into the reserves for the past 18 weeks. Do not talk to me about crude oil inventories. Our crude inventories have gone up – and a drop was reported last week – which sent prices higher – because the crude was off the shore in Houston due to heavy fog.

No, what I want to hear our “leaders” talking about is the oil speculation market. The oil futures/speculation market has driven the price of oil to extremes over the past 3 – 4 years. It became a noticeable evil in 2005 when Hurricane Katrina hit the gulf coast. Let me give you a few facts that are on the internet – easily able to be verified through some Google searches. About 8 years ago, there was ~9 billion dollars invested in the oil futures market. It drove prices, but it was not bad. Today, there is over $250 billion dollars in that market. I would not be surprised to hear that most of our elected officials are heavily invested in that market.

It needs to end. Caps need to be set on that market. The Government (God help me for saying this) needs to step in and shut those swindling thieves down. Why do I say that? After all, this is a capitalist society, right? Wrong. This is a closed market. There is no entrepreneurship in this club. I cannot go out and start my own oil company or refinery. It is a closed market. That makes it a monopoly and since the Administration was all interested in Bill Gates monopoly in software, why are they doing nothing about the oil market?

I do not want to hear any more about OPEC or any other influences. OPEC is right. The US has botched this market SO BADLY that it has been one of two driving factors in this recession. Yes, we are in a recession.

When the cost of milk goes from $1.99 to $5.00+ a gallon in less than a year, which is a lot more than the Administration's 18% price increase reported in the news – that indicates stagflation – after all, my salary did not go up to meet that increase. Those price hikes are across the board – ground beef - $1.79 a pound last summer is now $2.99 a pound less than a year later. What is the Administration waiting for? People are giving up out here, for God’s sake – the Administration thinks a stupid $600 check is going to solve this? I cannot believe the House and the Senate would be that stupid.

Do you think Americans are idiots? They know that oil prices drive gas. Gas prices drive food, clothes, and etc prices. Using corn ethanol (another staggeringly stupid move to appease Iowa farmers and the farm lobby) is cutting into the food supply. That in turn raises food prices. It is also forcing ranchers to kill their beef sooner and not replace it. Beef is going to go sky high here in a few months. Then what are people going to eat? WHAT is the Administration waiting for?

Let me go further – at $4.00 a gallon for fuel now – and at least $4.50 or more likely $5.00 a gallon this summer, people will not be able to afford to go to work. I do not want to hear about “public transit”. That solution is not viable in North Texas – and many places across the country. Let me give you my example: with public transit, it would take me 4 hours to get to work – part of that involves a ~2 mile distance that is not spanned by any transit bus. Imagine walking that in the summer heat and then sitting down with clients. Yeah, nice. Then another 4 hours home – adding 8 hours to an 8 hour day. Not very realistic is it?

So, not only can people not afford to go to work, they will not go anywhere. No summer vacation. That tanks your tourism industry. Hotels are hit; the movie industry gets hit further (adding to the fact that no one wants to see their America bashing films); manufacturing is hit because people aren’t buying anything. Then, unemployment rises – and things just get worse.

If our elected leaders do not step in and do something smart –you know – shut down the speculator market on oil; tell the fed to stop cutting interest rates because it devalues the dollar when they cut rates and put more money into circulation – something like that; we are looking at a spiral that could very well result in a 1930’s style depression. Does the President really want that on his watch? I cannot stress this enough – DO SOMETHING before it is too late.

An American's Perspective on Immigration (reprinted)

ORANGE COUNTY, (CALIFORNIA) NEWSPAPER

New Immigrants -

(This is a very good letter to the editor. This woman made some good points.) For some reason, people have difficulty structuring their arguments when arguing against supporting the currently proposed immigration revisions. This lady made the argument pretty simple. 'NOT' printed in the Orange County Paper

Newspapers simply won't publish letters to the editor which they either deem politically incorrect (read below) or which does not agree with the philosophy they're pushing on the public. This Woman wrote a great letter to the editor that should have been published; but, with your help it will get published via cyberspace ! ________________________________________________________

From: 'David LaBonte' My wife, Rosemary, wrote a wonderful letter to the editor of the OC Register which, of course, was not printed. So, I decided to 'print' it myself by sending it out on the Internet. Pass it along if you feel so inclined. Written in response to a series of letters to the editor in the "Orange County Register": ________________________________________________________

Dear Editor:

So many letter writers have based their arguments on how this land is made up of immigrants. Ernie Lujan for one, suggests we should tear down the "Statue of Liberty" because the people now in question aren't being treated the same as those who passed through Ellis Island and other ports of entry. Maybe we should turn to our history books and point out to people like Mr. Lujan why today's American is not willing to accept this new kind of immigrant any longer.

Back in 1900 when there was a rush from all areas of Europe to come to the United States, people had to get off a ship and stand in a long line in New York and be documented . Some would even get down on their hands and knees and kiss the ground. They made a pledge to uphold the laws and support their new country in good and bad times. They made learning 'English' a primary rule in their new American households and some even changed their names to blend in with their new home.

They had waved good bye to their birth place to give their children a new life and did everything in their power to help their children assimilate into one culture. Nothing was handed to them. No free lunches, no welfare, no labor laws to protect them. All they had were the skills and craftsmanship they had brought with them to trade fora future of prosperity. Most of their children came of age when World War II broke out.

My father fought along side men whose parents had come straight over from Germany, Italy,France and Japan None of these 1st generation Americans ever gave any thought about what country their parents had come from. They were Americans fighting Hitler, Mussolini and the Emperor of Japan. They were defending the "United States of America" as one people.

When we liberated France, no one in those villages were looking for the French-American or the German-American or the Irish-American. The people of France saw only Americans. And we carried one flag that represented one country. Not one of those immigrant sons would have thought about picking up another country's flag and waving it to represent who they were. It would have been a disgrace to their parents who had sacrificed so much to be here. These immigrants truly knew what it meant to be an American. They stirred the melting pot into one red, white and blue bowl.

And here we are in 2008 with a new kind of immigrant who wants the same rights and privileges. Only they want to achieve it by playing with a different set of rules, one that includes the entitlement card and a guarantee of being faithful to their mother country.

I'm sorry, that's not what being an American is all about. I believe that the immigrants who landed on Ellis Island in the early 1900's deserve better than that for all the toil, hard work and sacrifice in raising future generations to create a land that has become a beacon for those legally searching for a better life I think they would be appalled that they are being used as an example by those waving foreign country flags.

As for that suggestion about taking down the Statue of Liberty, it happens to mean a lot to the citizens who are voting on the immigration bill. I wouldn't start talking about dismantling the "United States" just yet.

(signed) Rosemary LaBonte