Saturn in Leo

June 28, 2008

Who's Making Money Here?

Gas prices are as high as they are because they can be. I recently

talked to an expert in this area and he and many other experts believe

that as much as 60 percent of the price of oil is based on pure

speculation from investors bidding up oil futures prices.

According to a June 6 article in the New York Times, a barrel

of crude oil is now more expensive than it was in 1980, the previous

peak, when adjusted for inflation. The oil and gas industry website Rigzone.com states the latest market rate topped $136/bbl as of June 11.

Venezuela estimate earnings of $75 billion in oil revenue in 2008,

which is about twice their external debt. Venezuela has the largest

energy reserves in the Americas and is the world's fifth-largest oil

exporter. According to officials about 1.4 million barrels are exported

to the U.S. daily, but they still have 130 billion barrels in reserve;

not exactly what you'd expect when there's an "oil shortage."

Likewise, oil companies are notoriously greedy, and the oil

companies -- not the people running your local gas station -- have

record profits. Exxon made corporate history with $11.7 billion in

quarterly profit, as reported by CNN Money.com on February 1, 2008 – a 14 percent increase from the previous year.

They reported both the highest quarterly and annual profits EVER for

a U.S. company, boosted in large part by soaring crude oil prices. This

even tops their previous record achieved in 2005 after hurricanes

destroyed the Gulf Coast.

They also set the annual profit record with net earnings of more than $40.6 billion in 2007. That's about $1,300 of profit per second.

And that's just ONE oil company. The number two oil giant, Chevron, reported a profit of more than $17.1 billion for 2007.

Folks, never be fooled into thinking that the oil companies are

forced to jack prices up this high because of crude oil costs; they are

only benefiting from the run-up in oil prices. But don't expect gas prices to go down any time soon. $4 a gallon gas is no doubt just the beginning. I see three, potentially interconnected, reasons for the current situation:

Oil giants are trying to make as much profit as possible before the

world wizens up and switches to alternative forms of energy, and/or We've reached "peak oil" where the global demand now exceeds

global production, which will result in never-ending price hikes as

reserves start to dwindle, and Runaway inflation due to the Federal Reserve's over-printing of money that isn't backed by anything of real value-- Sally SpencerFacilitator/Astrologer

www.Devi3.byregion.netWhatever you perceive, it's love you receive.

June 28, 2008

Dear Sally ,Its speculation in world crude oil futures which is basically responsible for such high crude oil prices, I am reproducing an interesting article i read regarding rise in world oil prices. What i have noticed, whenever disp of saturn i.e. sun is strong in Transists crude oil prices are rising, when sun is weak prices either standstill or go mildly downwards, It would be interesting to see how prices behave in sept, oct when tr saturn shall be afflicted by tr jup and when disp of sat, sun goes into its sign of deb.Best RegardsAjay.I am reproducing an article below.Link is http://www.marketwatch.com/news/story/gas-could-fall-2-if/story.aspx?guid=%7B2673C102%2D68E0%2D41D9%2D9C9A%2D10EE2E723948%7D & dist=TNMostReadThe article is reproduced below.Gas could fall to $2 if Congress acts, analysts sayLimiting speculation would push prices to fundamental level, lawmakers toldBy Rex Nutting & Michael Kitchen, MarketWatchLast update: 4:24 p.m. EDT June 23, 2008Comments: 1046WASHINGTON (MarketWatch) -- The price of retail gasoline could fall by half, to around $2 a gallon, within 30 days of passage of a law to limit speculation in energy-futures markets, four energy analysts told Congress on Monday.Testifying to the House Energy and Commerce Committee, Michael Masters of Masters Capital Management

said that the price of oil would quickly drop closer to its marginal cost of around $65 to $75 a barrel, about half the current $135.Fadel Gheit of Oppenheimer & Co., Edward Krapels of Energy Security Analysis and Roger Diwan of PFC Energy Consultants agreed with Masters' assessment at a hearing on proposed legislation to limit speculation in futures markets.Krapels said that it wouldn't even take 30 days to drive prices lower, as fund managers quickly liquidated their positions in futures markets."Record oil prices are inflated by speculation and not justified by market fundamentals," according to Gheit. "Based on supply and demand fundamentals, crude-oil prices should not be above $60 per barrel."Futures trading in London has not been a major factor in rising oil prices, testified Sir Bob Reid, chairman of the Chairman of London-based ICE Futures Europe. Rising prices are largely a function of fundamental supply and demand, not manipulation or speculation, he said."Energy speculation has become a growth industry and it is time for the government to intervene," said Rep. John Dingell, D-Mich., chairman of the full committee. "We need to consider a full range of options to counter this rapacious speculation." It was Dingell's strongest statement yet on the role of speculators.Dingell introduced a bill on June 11 that would ask the

Energy Department to gather the facts on energy prices, including the role played by speculators. See full story.There are two kinds of speculators in the futures markets, Masters said. Traditional speculators are those who need to hedge because they actually take physical possession of the commodities. Index speculators, on the other hand, are merely allocating a portion of their portfolio to commodity futures.Index speculation damages price-discovery mechanisms provided by futures markets, Masters added.The committee will likely consider legislation that would rein in index speculation by imposing higher-margin requirements; setting position limits for speculators; requiring more disclosure of positions; and preventing pension funds and investment banks

from owning commodities.Both major presidential candidates have supported closing loopholes that encourage speculation in the energy markets. Read more on Election Blog.However, other witnesses said that pure speculators have had little impact on energy prices, which have doubled in the past year to about $135 per barrel. Both Treasury Secretary Henry Paulson and Energy Secretary Samuel Bodman have dismissed the impact of speculators on prices paid by consumers.Speculators now account for about 70% of all benchmark crude trading on the New York Mercantile Exchange, up from 37% in 2000, said Rep. Bart Stupak, D-Mich.,

chairman of the investigations subcommittee. Stupak introduced a bill on Friday that would limit index speculation.There has been much discussion recently about how big a role speculators have been playing in the sharp rise in energy prices, though no consensus has emerged on this point.Congress, however, has grown increasingly concerned over speculative investors' role in the energy market in comparison with those buying futures contracts to hedge against risk from price changes. Lawmakers are expected to consider legislation to set strict limits -- or in some cases, an outright ban -- on speculative trading in energy futures in some markets.Dingell is looking into any legal loopholes that may have contributed to speculation in energy markets. In 1991, according to documents provided by the Commodity Futures Trading

Commission to the committee's investigators, the agency authorized the first exemption from position limits for swap dealers with no physical commodity exposure. This began what Dingell said was "a process that has enabled investment banks to accumulate enormous positions in commodity markets."Is Congress barking up the wrong tree?Neal Ryan, manager at Ryan Oil & Gas Partners, said that if Congress develops regulations to cut back speculative trading, speculation will just find a new home."Speculation is the root of capitalism," he said. "If the speculation is forced out of the U.S. exchanges, it'll simply show up on other exchanges that are OTC like the ICE, or new exchanges will pop up to allow for the spec trades to continue functioning."Ryan said he does see a reason for Congress to look at eliminating aspects such as allowing West Texas intermediate crude oil futures to

trade on foreign markets and the "Enron loophole," but "these exchanges are currently functioning as they are supposed to in a free marketplace."The creation of a comprehensive U.S. energy policy that tackles issues of increasing domestic supply and reining in consumer demand via conservation should be Congress' focus, Ryan said. "Instead we're on bended knee begging the Saudis to put more oil on the market and talking about shutting down spec trades."Rex Nutting is Washington bureau chief of MarketWatch.Michael Kitchen is a copy editor for MarketWatch and is based in New York. Nate Becker contributed to this report from San Francisco.--- On Sat, 6/28/08, Sally Spencer <sally234 wrote:

Sally Spencer <sally234 Saturn in Leo"EnlightenedLiving" <EnlightenedLiving >Saturday, June 28, 2008, 6:00 AM

Who's Making Money Here?

Gas prices are as high as they are because they can be. I recently talked to an expert in this area and he and many other experts believe that as much as 60 percent of the price of oil is based on pure speculation from investors bidding up oil futures prices.

According to a June 6 article in the New York Times, a barrel of crude oil is now more expensive than it was in 1980, the previous peak, when adjusted for inflation. The oil and gas industry website Rigzone.com states the latest market rate topped $136/bbl as of June 11.

Venezuela estimate earnings of $75 billion in oil revenue in 2008, which is about twice their external debt. Venezuela has the largest energy reserves in the Americas and is the world's fifth-largest oil exporter. According to officials about 1.4 million barrels are exported to the U.S. daily, but they still have 130 billion barrels in reserve; not exactly what you'd expect when there's an "oil shortage."

Likewise, oil companies are notoriously greedy, and the oil companies -- not the people running your local gas station -- have record profits. Exxon made corporate history with $11.7 billion in quarterly profit, as reported by CNN Money.com on February 1, 2008 – a 14 percent increase from the previous year.

They reported both the highest quarterly and annual profits EVER for a U.S. company, boosted in large part by soaring crude oil prices. This even tops their previous record achieved in 2005 after hurricanes destroyed the Gulf Coast.

They also set the annual profit record with net earnings of more than $40.6 billion in 2007. That's about $1,300 of profit per second.

And that's just ONE oil company. The number two oil giant, Chevron, reported a profit of more than $17.1 billion for 2007.

Folks, never be fooled into thinking that the oil companies are forced to jack prices up this high because of crude oil costs; they are only benefiting from the run-up in oil prices. But don't expect gas prices to go down any time soon. $4 a gallon gas is no doubt just the beginning. I see three, potentially interconnected, reasons for the current situation:

Oil giants are trying to make as much profit as possible before the world wizens up and switches to alternative forms of energy, and/or

We've reached "peak oil" where the global demand now exceeds global production, which will result in never-ending price hikes as reserves start to dwindle, and

Runaway inflation due to the Federal Reserve's over-printing of money that isn't backed by anything of real value-- Sally SpencerFacilitator/ Astrologerwww.Devi3.byregion. netWhatever you perceive, it's love you receive.

June 28, 2008

Dear Ajay,That's interesting. I guess what occurred to me is that oil is king when Saturn is in Leo. SallyOn Sat, Jun 28, 2008 at 4:15 AM, ajay sehg <ajaysehg wrote:

Dear Sally ,Its speculation in world crude oil futures which is basically responsible for such high crude oil prices, I am reproducing an interesting article i read regarding rise in world oil prices. What i have noticed, whenever disp of saturn i.e. sun is strong in Transists crude oil prices are rising, when sun is weak prices either standstill or go mildly downwards, It would be interesting to see how prices behave in sept, oct when tr saturn shall be afflicted by tr jup and when disp of sat, sun goes into its sign of deb.

Best RegardsAjay.I am reproducing an article below.Link is http://www.marketwatch.com/news/story/gas-could-fall-2-if/story.aspx?guid=%7B2673C102%2D68E0%2D41D9%2D9C9A%2D10EE2E723948%7D & dist=TNMostRead

The article is reproduced below.Gas could fall to $2 if Congress acts, analysts sayLimiting speculation would push prices to fundamental level, lawmakers told

By Rex Nutting & Michael Kitchen, MarketWatch

Last update: 4:24 p.m. EDT June 23, 2008Comments: 1046

WASHINGTON (MarketWatch) -- The price of retail gasoline could fall by half, to around $2 a gallon, within 30 days of passage of a law to limit speculation in energy-futures markets, four energy analysts told Congress on Monday.

Testifying to the House Energy and Commerce Committee, Michael Masters of Masters Capital Management

said that the price of oil would quickly drop closer to its marginal cost of around $65 to $75 a barrel, about half the current $135.Fadel Gheit of Oppenheimer & Co., Edward Krapels of Energy Security Analysis and Roger Diwan of PFC Energy Consultants agreed with Masters' assessment at a hearing on proposed legislation to limit speculation in futures markets.

Krapels said that it wouldn't even take 30 days to drive prices lower, as fund managers quickly liquidated their positions in futures markets. " Record oil prices are inflated by speculation and not justified by market fundamentals, " according to Gheit. " Based on supply and demand fundamentals, crude-oil prices should not be above $60 per barrel. "

Futures trading in London has not been a major factor in rising oil prices, testified Sir Bob Reid, chairman of the Chairman of London-based ICE Futures Europe. Rising prices are largely a function of fundamental supply and demand, not manipulation or speculation, he said.

" Energy speculation has become a growth industry and it is time for the government to intervene, " said Rep. John Dingell, D-Mich., chairman of the full committee. " We need to consider a full range of options to counter this rapacious speculation. " It was Dingell's strongest statement yet on the role of speculators.

Dingell introduced a bill on June 11 that would ask the

Energy Department to gather the facts on energy prices, including the role played by speculators. See full story.

There are two kinds of speculators in the futures markets, Masters said. Traditional speculators are those who need to hedge because they actually take physical possession of the commodities. Index speculators, on the other hand, are merely allocating a portion of their portfolio to commodity futures.

Index speculation damages price-discovery mechanisms provided by futures markets, Masters added.The committee will likely consider legislation that would rein in index speculation by imposing higher-margin requirements; setting position limits for speculators; requiring more disclosure of positions; and preventing pension funds and investment banks

from owning commodities.Both major presidential candidates have supported closing loopholes that encourage speculation in the energy markets. Read more on Election Blog.

However, other witnesses said that pure speculators have had little impact on energy prices, which have doubled in the past year to about $135 per barrel. Both Treasury Secretary Henry Paulson and Energy Secretary Samuel Bodman have dismissed the impact of speculators on prices paid by consumers.

Speculators now account for about 70% of all benchmark crude trading on the New York Mercantile Exchange, up from 37% in 2000, said Rep. Bart Stupak, D-Mich.,

chairman of the investigations subcommittee. Stupak introduced a bill on Friday that would limit index speculation.There has been much discussion recently about how big a role speculators have been playing in the sharp rise in energy prices, though no consensus has emerged on this point.

Congress, however, has grown increasingly concerned over speculative investors' role in the energy market in comparison with those buying futures contracts to hedge against risk from price changes. Lawmakers are expected to consider legislation to set strict limits -- or in some cases, an outright ban -- on speculative trading in energy futures in some markets.

Dingell is looking into any legal loopholes that may have contributed to speculation in energy markets. In 1991, according to documents provided by the Commodity Futures Trading

Commission to the committee's investigators, the agency authorized the first exemption from position limits for swap dealers with no physical commodity exposure. This began what Dingell said was " a process that has enabled investment banks to accumulate enormous positions in commodity markets. "

Is Congress barking up the wrong tree?Neal Ryan, manager at Ryan Oil & Gas Partners, said that if Congress develops regulations to cut back speculative trading, speculation will just find a new home. " Speculation is the root of capitalism, " he said. " If the speculation is forced out of the U.S. exchanges, it'll simply show up on other exchanges that are OTC like the ICE, or new exchanges will pop up to allow for the spec trades to continue functioning. "

Ryan said he does see a reason for Congress to look at eliminating aspects such as allowing West Texas intermediate crude oil futures to

trade on foreign markets and the " Enron loophole, " but " these exchanges are currently functioning as they are supposed to in a free marketplace. " The creation of a comprehensive U.S. energy policy that tackles issues of increasing domestic supply and reining in consumer demand via conservation should be Congress' focus, Ryan said. " Instead we're on bended knee begging the Saudis to put more oil on the market and talking about shutting down spec trades. "

Rex Nutting is Washington bureau chief of MarketWatch.Michael Kitchen is a copy editor for MarketWatch and is based in New York. Nate Becker contributed to this report from San Francisco.

--- On Sat, 6/28/08, Sally Spencer <sally234 wrote:

Sally Spencer <sally234

Saturn in Leo " EnlightenedLiving " <EnlightenedLiving >Saturday, June 28, 2008, 6:00 AM

Who's Making Money Here?

Gas prices are as high as they are because they can be. I recently talked to an expert in this area and he and many other experts believe that as much as 60 percent of the price of oil is based on pure speculation from investors bidding up oil futures prices.

According to a June 6 article in the New York Times, a barrel of crude oil is now more expensive than it was in 1980, the previous peak, when adjusted for inflation. The oil and gas industry website Rigzone.com states the latest market rate topped $136/bbl as of June 11.

Venezuela estimate earnings of $75 billion in oil revenue in 2008, which is about twice their external debt. Venezuela has the largest energy reserves in the Americas and is the world's fifth-largest oil exporter. According to officials about 1.4 million barrels are exported to the U.S. daily, but they still have 130 billion barrels in reserve; not exactly what you'd expect when there's an " oil shortage. "

Likewise, oil companies are notoriously greedy, and the oil companies -- not the people running your local gas station -- have record profits. Exxon made corporate history with $11.7 billion in quarterly profit, as reported by CNN Money.com on February 1, 2008 – a 14 percent increase from the previous year.

They reported both the highest quarterly and annual profits EVER for a U.S. company, boosted in large part by soaring crude oil prices. This even tops their previous record achieved in 2005 after hurricanes destroyed the Gulf Coast.

They also set the annual profit record with net earnings of more than $40.6 billion in 2007. That's about $1,300 of profit per second.

And that's just ONE oil company. The number two oil giant, Chevron, reported a profit of more than $17.1 billion for 2007.

Folks, never be fooled into thinking that the oil companies are forced to jack prices up this high because of crude oil costs; they are only benefiting from the run-up in oil prices. But don't expect gas prices to go down any time soon. $4 a gallon gas is no doubt just the beginning. I see three, potentially interconnected, reasons for the current situation:

Oil giants are trying to make as much profit as possible before the world wizens up and switches to alternative forms of energy, and/or

We've reached " peak oil " where the global demand now exceeds global production, which will result in never-ending price hikes as reserves start to dwindle, and

Runaway inflation due to the Federal Reserve's over-printing of money that isn't backed by anything of real value-- Sally SpencerFacilitator/ Astrologerwww.Devi3.byregion. net

Whatever you perceive, it's love you receive.

-- Sally SpencerFacilitator/Astrologerwww.Devi3.byregion.netWhatever you perceive, it's love you receive.

June 30, 2008

Hello Sally and Ajay, That's very interesting. I'm new to astrology and I've been enjoying reading some of the discussions here.I'm curious if you guys have noticed any specific planetary movements when gold/silver prices change. Also, what planets represent or rule the alternative energy? I read the new blog entry:

" The week of July 6, 2008 The aspect of JUPITER to natal VENUS becomes exact on July 7th. This is when the peak in the influences should be reached. When this aspect was first felt in mid March 2008, it seemed all hell broke lose in the financial markets. As transit 10th lord MARS is now strong and well placed in transit, unlike earlier, the impact of this aspect to reduce the CONFIDENCE of INVESTORS due to setbacks in HOUSING or COMMUNAL HARMONY or NATURAL RESOURCES is going to be less. "

In mid march 2008 gold marked the record high price ($1033/oz) as well as silver ($21/oz) since 1980. I'm wondering if the prices will rise like they did in mid March. Any thoughts?God bless you all,Kazki

On Sat, Jun 28, 2008 at 4:16 PM, Sally Spencer <sally234 wrote: