Obama: Shift From Foreign Oil Will Help Create More Jobs - News and Current Events | futures.io
futures.io futures trading

Go Back   futures.io

> Futures Trading, News, Charts and Platforms > Traders Hideout > News and Current Events

Obama: Shift From Foreign Oil Will Help Create More Jobs
Started:April 2nd, 2011 (12:40 PM) by Quick Summary Views / Replies:751 / 2
Last Reply:April 3rd, 2011 (03:20 AM) Attachments:0

Welcome to futures.io.

Welcome, Guest!

This forum was established to help traders (especially futures traders) by openly sharing indicators, strategies, methods, trading journals and discussing the psychology of trading.

We are fundamentally different than most other trading forums:
  • We work extremely hard to keep things positive on our forums.
  • We do not tolerate rude behavior, trolling, or vendor advertising in posts.
  • We firmly believe in openness and encourage sharing. The holy grail is within you, it is not something tangible you can download.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community. It's free and simple, and we will never resell your private information.

-- Big Mike

Thread Tools Search this Thread

Obama: Shift From Foreign Oil Will Help Create More Jobs

Old April 2nd, 2011, 12:40 PM   #1 (permalink)
Quick Summary
Obama: Shift From Foreign Oil Will Help Create More Jobs

President Barack Obama says shifting the U.S. away from imported oil and toward cleaner forms of energy will add momentum to a trend that has led to 1.8 million new jobs in the past 13 months.

More on CNBC...

Reply to share your thoughts on this current event.


Old April 2nd, 2011, 06:21 PM   #2 (permalink)
Fortitudo et Honor
Austin, TX
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: Futures
Posts: 882 since Mar 2011
Thanks: 128 given, 700 received

This is a half truth. The plain fact is that oil is a commodity that's used for more than just energy and gasoline. We're not going to get rid of oil anytime soon, as it's used in fertilizer, pharma applications, plastics, etc.

I do agree that our dependence on foreign oil has enormous socio-political ramifications.....if we didn't need foreign oil, we could ignore the middle east and they'd go back to cutting their heads off in the desert living with camels and tents.

The greatest thing Bush could have done to combat the root cause of terrorism is to remove or minimize our involvement and interest in the middle east and that's to reduce our dependency on foreign oil.

To that end, I agree with Obama. At some point, when/if we ever achieve truly *free* or neglibigly cheap energy, we can develop systems that fix hydrocarbons without having to harvest them from mother nature....till then, we're stuck.

But Obama isn't selling increasing domestic oil production, he's selling decreasing ALL oil dependency and that's where I disagree with him.....

Furthermore, he neglects the notion that "necessity is the mother of invention" and when we're ready for economically viable energy alternatives, they'll come. Dumping money at them prior (from the government) is very costly.

Once people start paying $5 to take a hot shower or we watch television with the same price concern that we used to use long distance calls ($.10/minute to watch your television set) then the necessity for energy alternatives will be more apparent.

As of right now, environmentalism is at best, a nebulous and contested motivator. When the price of our lifestyle gets to be beyond our tolerance and inhibitive, then and only then will the capitalist spirit produce suitable alternatives. We're already seeing that in play. We can produce the amount of oil we need here, we just can't do it as cheaply as we can by bying it from SW Asia. You can buy solar power systems for your house, but at the current price for electricity, it only becomes economically sound if it's subsidized.

When oil reaches say $200/barrel, then many forms of cleaner energy will be economically justified. But as I said, even then, we have to realize that we use oil for lubricants, plastics, fertilizers, drugs, etc, etc, etc.

Reply With Quote
The following 2 users say Thank You to RM99 for this post:

Old April 3rd, 2011, 03:20 AM   #3 (permalink)
Elite Member
Massachusetts (USA)
Futures Experience: None
Platform: NinjaTrader
Favorite Futures: YM
stephenszpak's Avatar
Posts: 778 since Jun 2009
Thanks: 144 given, 356 received

There's only one job that matters to him:

April 2, 2011

(AP) WASHINGTON (AP) — President Barack Obama is about to make one of Washington's worst kept secrets official: He wants a second term.

AP sources: Obama set to launch re-election bid - CBS News

Quotes from former President Truman:

“If you can't convince them, confuse them.”

“Always be sincere, even if you don't mean it.”

“Carry the battle to them. Don't let them bring it to you. Put them on the defensive and don't ever apologize for anything.”

"It's a recession when your neighbor loses his job; it's a depression when you lose yours."

Harry S Truman quotes

Harry S. Truman Quotes - Page 2 - BrainyQuote

Reply With Quote
The following user says Thank You to stephenszpak for this post:


futures.io > Futures Trading, News, Charts and Platforms > Traders Hideout > News and Current Events > Obama: Shift From Foreign Oil Will Help Create More Jobs

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Upcoming Webinars and Events (4:30PM ET unless noted)

An Afternoon with FIO trader bobwest

Elite only

NinjaTrader 8: Programming Profitable Trading Edges w/Scott Hodson

Elite only

Anthony Drager: Executing on Intermarket Correlations & Order Flow, Part 2

Elite only

Adam Grimes: Five critically important keys to professional trading

Elite only

Machine Learning Concepts w/FIO member NJAMC

Elite only

MarketDelta Cloud Platform: Announcing new mobile features

Dec 1

NinjaTrader 8: Features and Enhancements

Dec 6

Similar Threads
Thread Thread Starter Forum Replies Last Post
Did Markets Know Obama Would Tap Oil Reserve? Quick Summary News and Current Events 1 July 6th, 2011 07:20 PM
1.9 Million Fewer Americans Have Jobs Today Than When Obama Signed Stimulus kbit News and Current Events 0 June 14th, 2011 07:51 PM
Oil Will Steer Stocks, but Jobs Report and Bernanke on Tap Quick Summary News and Current Events 0 February 26th, 2011 12:20 AM
Obama Town Hall: *Defending His Record on Economy, Jobs Quick Summary News and Current Events 0 September 20th, 2010 02:50 PM
Obama Wants to Know 'Whose A** to Kick' Over Gulf Oil Spill Quick Summary News and Current Events 2 June 8th, 2010 08:33 PM

All times are GMT -4. The time now is 05:38 AM.

Copyright © 2016 by futures.io. All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts

Page generated 2016-10-23 in 0.08 seconds with 20 queries on phoenix via your IP