QUOTE (changeisgood @ Jul 11 2008, 08:16 PM)

Just so you all know, Senator Graham (McCain's Chief Economic Advisor) lol, write $70,000 checks at least once a week. And he calls us whiners? Maybe John McCain should end his campaign this week. Of course, I'll never vote republican agai because of all the hypocrisy, and Bush and Cheney own all those oil stocks.
Fact: When a person becomes President of the US, he/she is required to place all personal assets into a blind trust.
Fact: Same for VP
If the people running the blind trust are not investing wisely, they should be sued or prosecuted for misfeasance or malfeasance. The President and VP have zero idea where there money is invested. If one is not the manager of the blind trust, then that person alleging profiteering on the part of the Pres/VP is making a baseless speculation, and character assassination based upon lack of knowledge. If one is the manager of the trust, one making that statement is betraying a confidence he/she was bonded to keep.
Now I have no doubt that the trusts have holding in oil and other high price commodities....
The above requirement does not hold true for members of the House or Senate....
DO YOU HONESTLY BELIEVE FOR A MINUTE that members of the House or Senate (both Democrat and Republican) do not also have holdings in oil commodities and are making a bundle on them....
I am getting real tired of everyone screaming that Bush is making millions on oil and that is why the price/barrel is so high....
Let me toss a little piece of basic economy out here...
Oil is traded in US Dollars....
The US Dollar is at an all time low at this time
This means that foreign currency is worth a lot more.
Since oil is traded in US Dollars, US speculators and investors have less money to invest
Foreign speculators and investors can now purchase oil futures for a lot less of their currency than they could last year...
For example... if the US Dollar was even with the Euro... both foreign and US speculators would be able to purchase oil futures at the same price in their currency...
However, since the 1 Euro is equal to $1.59 US Dollars... the foreign investor has an edge...
At $140 a barrel, for example, the foreign investor is now paying $87.79 Euros. At the beginning of 2007 the Euro was worth $1.20 (approximately).. therefore the price of that same $140 barrel of oil would have been $112 Euros (Approximately)
The foreign investors and speculators are making a fortune on oil futures and, of course, reselling to the oil companies at a profit...
The Chinese and India governments at buying oil in unprecedented amounts and subsidizing their people on gas and fuel oil costs..
I don't see how people can still blindly accuse one person for the price of gas and oil in this country....
You want to blame someone... how about the speculators and investors all over the world who are driving oil futures through the roof.