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This $1.2Bn Crime Affects YOU!

ilene's picture




 

This $1.2Bn Crime Affects YOU!

By Phil of Phil's Stock World

$1.2 BILLION DOLLARS.

That's how much was stolen from US consumers this week by the crooks who run their usual scam at the New York Mercantile Exchange (NYMEX) - the traders who set the price of our nation's oil and gasoline.  The genius of the crime is that you, the American Consumer, only lose about $10 per week - so who's going to notice?  Who's going to complain?  

And that, my friends, is how they get away with it!  

Americans used 10% LESS oil and gasoline than we used last year, when oil was $85.04 per barrel.  Refineries used the same amount of oil as they used last year to stock up for the holiday weekend, despite the fact that we have 31M MORE barrels of oil in inventory than we did last year.  

2013 Gasoline Demand re. Philstockworld.com

The refiners supplied 1.7Mb LESS refined products than they did last year but, somehow, there was a net draw in inventory reported of 14.7Mb (almost 10x) and that was the excuse they used to send oil prices back to $102 per barrel at yesterday's close.  That's another $6 higher than the $11.32 higher than the $85.04 we paid last July 4th so now it's $15 PER WEEK being stolen from you - and THAT's assuming $85 a barrel is a fair price in the first place!  

Of course, if you have two cars, then you're losing $30 a week and that's $1,560 a year - do you care now?  

I'm sure you've heard that US Oil Production is on the RISE.  In fact, we are now producing 7.267M barrels a day, that's up 19.2% from this time last year, adding 8.2M barrels a week to our weekly supply.  That may lead you to ask the question: 

If we are producing 20% more oil than last year and using 10% less oil than last year - how can our inventories of oil be declining and why the heck is $1,500 being stolen from my family?  

http://www.itulip.com/forums/showthread.php/25514-The-Post-Market-Economy-Part-I-Chaos-on-Planet-ZIRP-Eric-Janszen

The answer is surprisingly simple:  IMPORTS.  The same crooks who set the prices on the NYMEX by creating BILLIONS of fake orders each month also CANCEL so many of those orders by delivery day that they actually are having 1.8Mb LESS oil delivered each day than they did last year.  No, this is not a joke - 12.6Mb PER WEEK of oil, over 50M barrels PER MONTH are being cancelled at the NYMEX. This is creating an artificial shortage that drives up the price of oil and gasoline in America.  

Not only are they cancelling our imports, but they are EXPORTING 671,000 barrels of refined product OUT of the country. Artificially creating the impression that there is 4.7Mb per week more demand than there actually is in the US.  While it's a small bite of our 133M barrel weekly usage (3.5%), those who follow oil trading know that just a 1Mb swing in inventories one way or another can make a $5 difference in the week's oil prices. That's $20 out of your pocket... 

http://www.rpc.senate.gov/policy-papers/us-shale-oil-revolution-grave-concern-for-opec

This is the willful destruction of the United State's Energy Security while charging American's $102 per barrel instead of $85 per barrel by creating this artificial shortfall. It's costing the American Consumer $9.69Bn per month and is sucking $116Bn a year out of the US economy (enough to fund 2.3M $50,000 jobs)  - AND WE'RE HANDING A GOOD PORTION OF THAT MONEY OVER TO COUNTRIES THAT FUND TERRORISTS!  

Keep in mind that we're only focusing here on the $17 EXTRA that you are being charged over and above last year's $85 per barrel despite the fact that America is producing more of it's own oil (now the World's second largest producer of oil) and using 10% less (because we're buying smarter cars).

It's no coincidence that traders picked this week to send oil prices to the highest level since April of 2012 - which was just before prices collapsed (similar shenanigans) all the way down to $77.28, but not before robbing Americans of tens of Billions of Dollars.  The same scam was run on consumers in April of 2011 ($114.84 to $75.72) and, unless you Email this article to your friends and tell them (and you!) to write your Congresspeople and complain about this (it takes 30 seconds to find your Representative, past a link to this article, comment and hit send!) - nothing will ever change. 

A crime is being committed here - oil prices are being manipulated by traders who are, at this very moment, pretending to order 250,000,000 barrels of oil for August delivery. In just 2 weeks from Monday, they will have cancelled roughly 95% of those orders to short-change America once again, to strangle our energy supply, create artificial supply shortfals and to rob your family of another $60 per car for the month.  

You're being robbed - it's up to you to stop being a victim!  

Click on this link to try Phil's Stock World FREE! 

 

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Thu, 07/04/2013 - 22:29 | 3722632 gorillaonyourback
gorillaonyourback's picture

Come on ilene do you really believe global oil companies would be doing anything other than robbing us. The sadder truth is we as americans will continue taking it up the wazzu and not even care. The revolution will come when our dollar colapses. So my advice is turn on the tv stare at ur bellybutton during the commercial smoke a cigarette or weed drink some beer and enjoy a little bit of ignorant bliss. And hope the revolution starts soon

Thu, 07/04/2013 - 21:35 | 3722562 FieldingMellish
FieldingMellish's picture

The Federal Reserve are the crooks stealing the money. The NYMEX is simply a symptom.

Thu, 07/04/2013 - 21:20 | 3722539 Handful of Dust
Handful of Dust's picture

Damn speculators!

Thu, 07/04/2013 - 20:41 | 3722479 Stuck on Zero
Stuck on Zero's picture

The U.S. is actually exporting significant amounts of refined diesel and gasoline - about 1.2 million barrels a day worth:  http://breakingenergy.com/2013/06/03/us-gulf-and-east-coasts-expanding-g....

 

Thu, 07/04/2013 - 20:30 | 3722459 plaspotje
plaspotje's picture

Dear ilene, the people are being ripped off all day and all night by government and the elite-corporation, wallstreet and banks ext ext , but here a small step to solve the problem fast , every american stop purchase everything and anything other then the real staying alive needs , everyone will be unemployed in one month, and can not pay its bills and econoomic collaps is just around the corner , and now the people have leverage., just imagion that , the fed can print all it wants.......would bring the average waistline down too 

Thu, 07/04/2013 - 20:24 | 3722451 Walt D.
Walt D.'s picture

"Of course, if you have two cars, then you're losing $30 a week and that's $1,560 a year - do you care now?  ".

Where did these numbers come from? 

I guess if you own two Buggati Veyrons that get  8 mpg you can afford $30 a week - or you could drive a Prius.


Thu, 07/04/2013 - 20:16 | 3722428 gorillaonyourback
gorillaonyourback's picture

Come on ilene do you really believe global oil companies would be doing anything other than robbing us.
The sadder truth is we as americans will continue taking it up the wazzu and not even care.

The revolution will come when our dollar colapses.

So my advice is turn on the tv stare at ur bellybutton during the commercial smoke a cigarette or weed drink some beer and enjoy a little bit of ignorant bliss.

And hope the revolution starts soon

Thu, 07/04/2013 - 20:05 | 3722399 GoldForCash
GoldForCash's picture

Bikes, mopeds , legs the best way to strike back. But still if we cause them to loose a billion so what. It's not like they need it. How much can they spend? It's a sickness that one day they will pay for...

Thu, 07/04/2013 - 20:02 | 3722392 Spigot
Spigot's picture

Invent the alternative. Publish it as public domain. End of monopoly.

Thu, 07/04/2013 - 19:09 | 3722248 0b1knob
0b1knob's picture

They did the same thing a few years ago when they ran oil up to $150 per barrel.   There is a theory that the entire financial crisis was brought on by that spike.   People were stressed, they got behind on their mortgage payment, real estate collapsed, a recession started, financial collapse.   And all because the geniuses on wall street made a few billion on a rigged oil market.

 

Make a few bil' on fixed oil market.   Lose hundrededs of bil' on the collapse it causes.   The smartest guys in the room.

Thu, 07/04/2013 - 20:10 | 3722413 Spigot
Spigot's picture

The fuel as there, the air was there, the gasoline was poured all over the place ... and then the price spike spark lit it up. Its a total context not just a spark making bad.

Thu, 07/04/2013 - 19:02 | 3722229 for shizzle my ...
for shizzle my nizzle's picture

So, this goes on in every market - you can write and rail about / against it -  but you still have to buy stocks - Ilene - you one legged bitch - and Phil, you fat ass 2 legged bitch.............

Thu, 07/04/2013 - 18:36 | 3722175 joego1
joego1's picture

I'm converting one of my old trucks to propane.

Thu, 07/04/2013 - 18:29 | 3722163 Stud Duck
Stud Duck's picture

Cocksuckers! I am going to pull the plug on my 19 oil/gas wells in Okahoma, just to show them I do not approve!

Thu, 07/04/2013 - 18:20 | 3722155 nope-1004
nope-1004's picture

This kinda says it all.... we've been using less and less gas for YEARS.  Futures markets and mercantile exchanges are 100% fixed casinos, used to siphon wealth from the masses on non-discretionary items.  Hang'em all!

 

Thu, 07/04/2013 - 18:08 | 3722138 eddiebe
eddiebe's picture

Ok., Ilene, that's it! from now on I'm walking to the store. It's only 14 miles.

Thu, 07/04/2013 - 21:22 | 3722542 thisandthat
thisandthat's picture

Bicycle

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