"I think you misunderstand what speculation is."

- nope



"A place such as oil futures doesn't need MUCH speculative trading because it is a proven market."

- regardless, there is MUCH speculative trading on oil futures...even fox news can see that:
FOXNews.com - The Danger of Speculation - FOX Fan

Study pins oil-price volatility on speculation - Oil & energy




"Oil usage is effected on a global scale and is not local to just the United States. And there has been a significant reduction in oil since July. I am not sure where you're getting your information from but it's just flat out wrong."

- if i am flat out wrong, then it should be a simple matter for you to prove it by showing me how global oil demand or supply changed enough to justify a 600% increase in price between 2003 and 2008, and then a 50% decrease in price in the past 3.5 months



"You are confused on what our current down turn resulted from."

- nope again



"The housing market was still hot and going; however it was only going on strong due to sub par lending practices that were leveraged against financial institutions from the Clinton Administration."

- fannie and freddie are not from the clinton administration, and they were on the sidelines of the subprime crisis:
McClatchy Washington Bureau | 10/12/2008 | Private sector loans, not Fannie or Freddie, triggered crisis



"uhh.. did you really read what is said on there? It is not much different from what I've been saying in regards to taxes."

- of course i read it...i posted that link because it is exactly what you've been saying in regards to taxes...i understand the theory, but it doesn't match reality



"So this article seems to be in line with the definition of supply and demand"

- nope...here are a few excerpts from that link:

OPEC's move to keep oil output unchanged was a message to the market that crude supplies are sufficient, a view not shared by *speculators* who pushed the price of crude to fresh record highs on Thursday, analysts said...Prices surged in the fallout from what was an absolute hysterical reaction to OPEC's decision...Thus, when OPEC tells us the (oil supply and demand) fundamentals have decoupled from prices and the speculators are running roughshod over the futures market, they have a point...OPEC on Wednesday blamed the high cost of crude on speculative buying as investors sought a haven amid a weak dollar and high inflation. "You get the feeling that even if OPEC had announced a production increase the market was still going to move higher," said the Schork Report..."The fundamentals [supply and demand] are still miles away from providing a clear justification for the current price level," Petromatrix analyst Olivier Jakob said following OPEC's latest output decision.



"What is it again that you're trying to prove?"

- i am trying to prove that supply and demand have been 'decoupled' from oil prices and that supply side economics doesn't work


"Are you arguing against me for the sake of arguing? At this point it seems like you don't understand what you're talking about."

- i am not stupid and i don't think you are either or i wouldn't waste my time discussing these important issues related to the current financial crisis and government policies...i am not disagreeing with you for the sake of argument, or trying to piss you off with snarky comments about your being confused and lacking understanding...i am trying to be as clear and polite as simple text allows...some of these issues are extremely complicated and i learn a lot from people in these type of discussions