Live Webcast Of Obama Demonizing Oil "Speculators"

Tyler Durden's picture

After Obama's "fairness doctrine" was roundly rejected by the Senate last night as the doomed from the beginning Buffett Rule was voted down, Obama needs to find some more evil villains for society to demonize, and whom to blame for the failure of central planning, or rather its success in pushing gas prices to all time highs. Today - it is that mysterious, amorphous blob of vile, conspiratorial henchmen known as "oil speculators." Forget that these "speculators" are merely conduits for the Fed to conduct its open market operations, forget that the same free liquidity that drives stocks up relentlessly in nominal terms (what? no demonization of evil stock pumping speculators?), even as it produces ever increasing inflation in all those items not tracked by the Fed, forget that Obama's speech is about to be replica of Jimmy Carter's Crisis of Confidence platitude in 1979. Finally forget that the biggest speculator is none other than the White House with its periodic release of SPR release rumors any time WTI approaches $110. Forget all that, and merely focus on the hypnotic, undulating intonation of the engrossing, populist sermon: that is all that is demanded of you. Everything else is to be ignored. And now since the time of "fairness" is over, it is time to do a shot every time "speculator" is uttered. And get ready for many, many CL margin hikes.

Watch live at 11:10 am:

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
EscapeKey's picture

Obama 2012 - making Jimmy Carter look like a genius.

SilverTree's picture

Obama 2012 - He is still black.

AldousHuxley's picture

oil speculators from goldman sachs are how obama's campaign is funded.

also rhetoric and action around Iran is causing speculators to bet on increase in crude prices.


bring the troops home and let TBTF fail, you will see speculators mostly disappear.

Comay Mierda's picture

I've stopped feeling bad/sorry for the sheep.  if they dont see they are about to get slaughtered by their master its their own damn fault.  when shtf, only people who have prepared will get through.

Oh regional Indian's picture

here in India, I had a spotty connection.

All i could see was that Geithner is a robot. HE did not move, only once to put his hands back. Looked totally weird. Sideways, odd.

And it's a dangerous trend when they start making "Statements" and stop taking questions.



V in PA's picture

Don't count on it. Those who have prepared will most likely be declared criminals, and rounded up, before the final crash.

knightowl77's picture

That is why it is better to live inn the "boonies" where the Stop signs say "Whoa"....Feds can't find us out here, or we will be so low on their priority list, we'll be the last they come for...

iDealMeat's picture

Be a wolf.  in sheepskin..  quite easy to play the role and hide in plain sight..



Buckaroo Banzai's picture

It's the same tired playbook that has worked for thousands of years. Dictators have to find people inside the country to demonize, or outside the country to attack. Why would Obama reinvent the wheel?

Taterboy's picture

Hitler had the Jews. Obamee has the "Speculators".

tickhound's picture

The NAT GAS traders must feel like PATRIOTIC speculators about now.

Medals of Freedom pending...

Bob Sacamano's picture

Yes, Central Planning only attacks you when you do not obey their wishes. 

Want to fix speculators?  Stop govt induced ZIRP.  That'll do it.

But the govt likes to complain about the consequences of their own policies.

CrashisOptimistic's picture

I'm pretty sure oil speculators don't sit in the offices of oil refinery managers and tell them how much they are permitted to pay for a shipment of crude.

The refinery has gasoline customers.  They have to supply them and they set a price based on what they must to stay in operation.  The oil shipper sets a price based on what other refineries might be willing to pay.

Nowhere in that process is there a procedure book that says "you must watch the NYMEX prices to determine what the refinery will pay for the shipment".

Bicycle Repairman's picture

Nothing to see here.  Move along.

nope-1004's picture


Truth is, create a villian (speculators), institute margin hikes (election year) to coverup monetary debasement (Bernanchio bailing out banks).

A true gem from him:  "Oil imports have decreased every year I've been in office."  LOL.  Kinda sucks residing over a depression, but spin away as you must mr. obummer.


hedgeless_horseman's picture



As yo' president, I invite y'all to visit this li'l ol' innernet site to find The Gospel Truth about high gas prices:


hedgeless_horseman's picture



"Because we are now running out of gas and oil, we must prepare quickly for a third change, to strict conservation and to the use of coal and permanent renewable energy sources, like solar power."


JIMMY CARTER, televised speech, Apr. 18, 1977

hedgeless_horseman's picture



One blames the speculators, and one says we are running out of oil.  Which one is lying?

hedgeless_horseman's picture




"Fuck off with politicians and the media blaming everyone and everything for high gas prices...except the people that everyone knows are really to blame...the government and central bankers with their deficit spending, money printing, and central planning. I say never be protected, I say stop being perfect, I say let... lets evolve, let the chips fall where they may."


DaveyJones's picture

uh, if we now get an EROEI of 1/5 or less and we started off 100 years ago with 1/150, I'd say we're "running out" 

kinda why we're drilling at the bottom of oceans and squeezing crap out of shale

we can not keep up with our depletion rates

we have NEVER, as a species evolved to an energy source with lower returns. We are about to

hedgeless_horseman's picture



we have NEVER, as a species evolved to an energy source with lower returns.

Thank God the ROI* for Bernanke's Heidelberg Presses approaches infinity.

But seriously, what is the EROEI for our current nuclear technology?



DaveyJones's picture

complicated. What the cost of the risk? of the spent fuel? The fuel source would last how long?  How many would we need to be build to replace the work of oil? What would it cost? How long would it take? Have you seen the studies of the wind just along the east coast? Could electrify most of our small fleet and a lot of our fuel /heat / cooling. Of course, once again, we are damn late on the transition. But the materials are a BIT safer and a BIT more common. How many airplane propellers did we suddenly build in WWII?   

hedgeless_horseman's picture



More complicated than oil?  Does the EROEI for oil include a risk adjustment?  You sound defensive.  Why not just Google it?

DaveyJones's picture

Funny, I almost posted the same article. Like that author. Not defensive, just skeptical. In many ways it's more "complicated" - at least risk, waste, and fuel source volume   

NotApplicable's picture


Those facts are not mutually exclusive.

BTW, I should junk you for posting that TP site. At least HuffPo has some humor. That place is stupid to the nth degree.

divide_by_zero's picture

Seriously?! Huffpoo has some humor?! Seems like the same bunch of Soros sponsored progressive whackjobs to me.

Harbanger's picture

The weather




The banks

The Rich


The Supreme Court

Stay at home moms



phalfa5's picture

nat gas next... 

they will tax and regulate in the name of saftey and environmental concerns, then go after the evil speculators that don' tow the line or pay the toll.  Yes, we probably need some sort of over site in this industry, but I remain somewhat skeptical on how fair and objective it will be. "Supporting Safe and Responsible Development" of course means government over site and control, complete with regulations designed to protect the people and environment (ie the insiders, favored individuals and corporations that will benefit from this and their "environment" of crony capitalism). Obviously, these government "safeguards" have a high cost (to be passed on to the consumer in overall higher prices and TAXES). There are committees to be established with high salaried bureaucrats, insiders, and industry executives to be paid (off), as well as numerous environmental impact studies and cost analysis (to the taxpayers and consuming public, as well as producers that "aren't on board") that need to be completed before congress can legislate (confiscate) a portion of the market through various taxes and lobbyist recommendations (donations). It's all very complex but thankfully we have our elected government officials (and appointed ones as well) to represent our (their) best interests.

here's a small excerpt, see the link for the entire article.

While Americans focused their attention on the Colombian controversy involving U.S. Secret Service agents, prostitutes and excessive drinking, President Obama quietly signed his latest Presidential Executive Order. The  Supporting Safe and Responsible Development of Unconventional Domestic Natural Gas Resources  Executive Order seeks to create what amounts to a Presidential super committee that will oversee the regulation and development of the ‘unconventional’ natural gas industry for the purpose of ensuring a long-term natural gas supply for the United States, as well as to do so in a safe and environmentally responsible manner.
Excerpts (Read the complete E.O.): While natural gas production is carried out by private firms, and States are the primary regulators of onshore oil and gas activities, the Federal Government has an important role to play by regulating oil and gas activities on public and Indian trust lands, encouraging greater use of natural gas in transportation, supporting research and development aimed at improving the safety of natural gas development and transportation activities, and setting sensible, cost-effective public health and environmental standards to implement Federal law and augment State safeguards. Because efforts to promote safe, responsible, and efficient development of unconventional domestic natural gas resources are underway at a number of executive departments and agencies (agencies), close interagency coordination is important for effective implementation of these programs and activities. To formalize and promote ongoing interagency coordination, this order establishes a high-level, interagency working group that will facilitate coordinated Administration policy efforts to support safe and responsible unconventional domestic natural gas development.
DaveyJones's picture

yup, this is the crucial transition energy BUT it won't last long and we are way behind converting our economy and transportation systems. Like most empires, we put all our cards on the military and currency control. Stupid

Logans_Run's picture

Before I saw your next post I thought you were posting Mr. Obama-Rogers.

AgShaman's picture

Wow...Tony Robbins looks alot older and like he's lost some weight.

That day trading is a Beotch!

xela2200's picture

Are you kidding? At this point, I miss Jimmy Carter.

Vendetta's picture

I'm not sure about 'missing' Carter but I have to laugh at the blame of stagflation on Carter when it was Nixon's act of infamy on Aug 15, 1971 that caused the malaise of the 70's.

Ignatius's picture

Remove all taxes from gold ownership and exchange.  Let the gold price float in a physical only, cash & carry market and let it find its level as savings.

Since Nixon didn't do this, he had to close the window else all US gold would have gone out the door at $35/oz. Honesty wasn't Tricky Dick's long suit (ever, for a politician?) so we defaulted and blamed 'internation speculators' instead.  Who could see that coming....

Hence forth, have the treasury issue interest free US Notes.  If they issue too many it will be reflected in the gold price which competes with other savings vehicles.

That is all....

smiler03's picture

So you're suggesting making gold a special case in which it can be traded in physical only? Surely you would have to do the same with every other commodity? 

No? Then your idea is complete nonsense.

Buckaroo Banzai's picture

At least Jimmy Carter wasn't ignorant or malevolent, or psychologically disturbed. And he at least met the Constitutional requirements to qualify for election to the office of President.

vast-dom's picture

But Carter IS a genius....compared to Obama.


Markets up today because.....IQuit! This fucking shit is insane! Hey at least I'm making money right now on oil (speculators).....

Bullish on pure market bullshit

solgundy's picture

Obummah is running the Huey Long play book campaign...the trouble is the Kingfish was running to the left of FDR........Obammah has to run to the left of himself....if that's is possible, I doubt that is possible...nothing is to

the left of Obummah

slaughterer's picture

All I need to do on this thread is punch the "+1"s on most everybody.  All has been said.  

Beatscape's picture

Oblabla says that the Keyston pipeline will have no impact on oil prices--that's pure BS and at best half-assed speculation.  Case in point, in two days with news of the reversal of flow in the Seaway pipeline from Cushing to the Gulf Coast will go into effect sooner that originally anticipated is having a major impact on the spread between WTI and Brent. He acts as if he's clueless.

Rather than focus on solutions, such as the Keystone pipeline, opening up more drilling in the Gulf and off shore, he wants to blame someone else.  This is not leadership, it is talk from an average joe who blames "them" for everything.  We have a joke for a president who is truly unqualified for the position.

DaveyJones's picture

the "solution" has very little to do with chasing an energy source with exponentially decreasing energy returns.

EscapeKey's picture

Mr Geithner what's the risk of the public servants act on behalf of the voters placing them in their jobs?

Geithner: No risk of that.

SilverTree's picture

Uncivil War?


Geithner: No risk of that.

JPM Hater001's picture

Just for the record I did take a shot when we went back above 13000.  Anyone else still playing?  I hear there's some panama red coming in for the cross back over...shortly.

And now for a set of complete lies...

Chupacabra-322's picture

@ SilverTree, It won't be Civil that's for sure:

Blackhawks Circle Low Through Chicago Skies as Secret Service Releases Security Details

Chicago - Blackhawks and A/MH-6 Little Bird helicopters used by special forces circling low through downtown Chicago skies made for a scary scene along the Chicago River, as they rattled windows flying among the city's skyscrapers.

The training exercise comes as the city found out some of the details of what the Secret Service wants for security at next month's summit at McCormick Place.

AgShaman's picture

With Rahm (Don't waste a crisis) at the post in Chi-town...

It has my vote as a likely next "False Flag" target.

Obama is already preparing his sermon....that follows Rahm's "Guiliani" moment, for all of Chicago's proud heroes

Chupacabra-322's picture

@ AgShaman,

The Federal Government has a hunger for tax money, resources, and ammunition. We reported that the Department of Homeland Security (DHS), led by Janet Napolitano, awarded munitions manufacturer a five year contract for 450 million rounds of .40 caliber ammunition, two years after awarding Winchester munitions a five year contract for 200 million rounds .40 caliber ammunition.

This last Friday, DHS officials have put a bid out for even more ammunition, this time for the Federal Law Enforcement Training Center (FLETC).

The FLETC is headquartered at Glynco, Ga., near the port city of Brunswick, halfway between Savannah, Ga., and Jacksonville, Fla. and operates two other residential training sites in Artesia, N.M., and Charleston, S.C. However, The FLETC has oversight and program management responsibilities at the International Law Enforcement Academies (ILEA) in Gaborone, Botswana, and Bangkok, Thailand. The FLETC also supports training at other ILEAs in Hungary and El Salvador.

The ammunition requested will be sent to the Artesia site.

According to the Combined Synopsis/Solicitation, the following ammunition is to be delivered by the middle of May:

Item No . Description Qty Unit
001 .22 long rifle, 36 grains hollow point (HP) 5 TH
002 .308 175 grains match boat tail hollow point (BTHP) 1000 EA
003 .45 ACP 230 grains jacketed hollow point (JHP) 500 EA
004 .45 Colt / Long Colt, 25 grains lead 100 EA
005 .300 AAC black out, 125 grains open tip match 250 EA
006 .44 mangnum, 240 grains jacketed soft point 100 EA
007 .44 special, 240 grains lead flat nose 100 EA
008 .22 magnum, 40 grains jacketed hollow point 400 EA
009 .30-30 winchester, 150 grains soft point 100 EA
010 12 GA, # 8 bird shot 400 EA
011 .30-06, 168 grains match 500 EA

These caliber types are consistent with a variety of handguns and rifle, as if they were familiarizing new shooters on a variety of weapons, from .22 caliber to the 12 gauge shotgun, up to 100 rounds of 44 magnum ammunition.

It almost seems they are training “personnel” on how to use weapons that would be in most people’s homes.

Regardless of the reason, if asked they will never tell us the truth and this all falls under the umbrella of “National Security”.

Now don’t you feel more secure?


My take,

The order for “002 .308 175 grains match boat tail hollow point (BTHP) 1000 EA” – is an order for standard SNIPER rounds.

They anticipate going after at least 1000 people (one shot, one kill) with these. This is about ASSASSINATION, people. The U.S. Military switched from the 168 gr. Match HPBT to the 175 gr. Match HPBT because the additional mass keeps it stable out to 1,000 yards – better than the 168 gr. version, thus maintaining supersonic flight – and accuracy the 168 gr. round will not deliver. The 190 gr. version is just a little too heavy and causes a bit more recoil and wear on the rifle, so the 175 is the standard sniper round for the .308 caliber sniper rifle today.

AgShaman's picture

Ugh...thanks for the "energetic" info....I think?