Fuck gas prices...
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tjamz;219694 wrote:
Well...if we had a stronger dollar, people wouldn't be as apt to invest in the commodity market AND our $1 would buy more oil than it currently does. Why is our dollar not worth shit anymore? Maybe it has something to do with the BILLIONS we owe China and other countries for funding our pointless war in Iraq.Or, you know, oil supply could be lower than demand. Of course, the fact that our currency is weak does play a small part of it.
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Or, it could be that if the commodity futures prices weren't bloated, a barrel of oil would have a realistic street value of ~$60/barrel....according to economists that I've heard speak.
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I think a majority of the high prices are a result of both greed and futures trading. LOL Im glad i dont have to pay to fill up my work truck, i filled it the other day from a quarter tank (something around 34 gallons), it cost 140 dollars!!!
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http://money.cnn.com/2008/02/01/news/companies/exxon_earnings/
We pay more and Exxon continues to to post record profits, hmm.
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Link;219723 wrote:
Chuck for pres! :icon_cheers:I would vote for ya!!!!!
Understeer is when you hit the wall with the front of the car
Oversteer is when you hit the wall with the rear of the car.
Horsepower is how fast you hit the wall
Torque is how far you take the wall with you -
tjamz;219720 wrote:
Or, it could be that if the commodity futures prices weren't bloated, a barrel of oil would have a realistic street value of ~$60/gallon....according to economists that I've heard speak.I'm hoping you don't mean $60/gallon, but anyway, ROFL. If there's one group of people that knows the least about the economy, it's economists. Nevertheless, I'd love to see a definitive link suggesting an extremely valuable, inelastic, finite resource should realistically be priced at $60/barrel.
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untitledfolder;219732 wrote:
http://money.cnn.com/2008/02/01/news/companies/exxon_earnings/We pay more and Exxon continues to to post record profits, hmm.
True. Price of oil goes up, and if they continue to sell the same amount of product, their GROSS profit will go up. Have their operating/exploration costs increased at all? There's always two sides to the coin.
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reshalghoul;219764 wrote:
I'm hoping you don't mean $60/gallon, but anyway, ROFL. If there's one group of people that knows the least about the economy, it's economists. Nevertheless, I'd love to see a definitive link suggesting an extremely valuable, inelastic, finite resource should realistically be priced at $60/barrel.Do you have your head buried in the sand or what? There have been many people who have said that if it weren't for the shitty dollar and all of the speculators the price per barrel would be around $60.
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MisterCMK;219766 wrote:
Do you have your head buried in the sand or what? There have been many people who have said that if it weren't for the shitty dollar and all of the speculators the price per barrel would be around $60.Please, I'd love to see definitive links.
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If anyone wants to jog a few brain cells (MrCMK), I'd recommend this site to peruse.
or
http://www.bloomberg.com/apps/news?pid=20601087&sid=a5eIZ7qh9xII&refer=home
Oil Rises Above $135 After Unexpected Drop in U.S. Inventories
"May 22 (Bloomberg) -- Crude oil rose to a record above $135 a barrel in New York on concern that supplies are inadequate after U.S. stockpiles unexpectedly dropped last week."
Wow, it must be speculators and a weak dollar using all that oil up. Definitely not the fact that the U.S. uses about 22 million barrels of oil per day. Nope, that's definitely not the problem.
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SmitEvo;219775 wrote:
We still pay half of what Europe pays for a gallon of gas....it will hit at least $4.00 a gallon this summer.No doubt. I said this months ago.
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I dont think there is a shortage at all, if you talk to your parents or anyone around in the 70's they will tell you about a REAL shortage. When you were only allowed to buy a few gallons at a time....that shows me there really was a shortage. not any of this bullshit.
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DelSlow;219778 wrote:
I dont think there is a shortage at all, if you talk to your parents or anyone around in the 70's they will tell you about a REAL shortage. When you were only allowed to buy a few gallons at a time....that shows me there really was a shortage. not any of this bullshit.Still waiting for proof. I'll be happy to read it. Wasn't there a shortage of diesel fuel in ND last year?
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oil supply is up, demand is down, and our dollar sucks balls. pennies and nickels are now costing more to produce than they're worth. one of the main problems with oil prices is speculation.. prices are up because "experts" say they should be up. i'd look some shit up for proof but.. hey.. make up your own minds.:drunken_smilie:
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harm;219786 wrote:
oil supply is up, demand is down, and our dollar sucks balls. pennies and nickels are now costing more to produce than they're worth. one of the main problems with oil prices is speculation.. prices are up because "experts" say they should be up. i'd look some shit up for proof but.. hey.. make up your own minds.:drunken_smilie:Yeah, again, I'd love to take your word for it, but I'd like to read a link or two. I mean, I just posted a link copyrighted today that says U.S. inventories are down, indicating supply is low.
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Wow, an article!
http://seattletimes.nwsource.com/html/businesstechnology/2004425507_fuelpriceqa20.html
"Clearly, there are underlying problems of supply. Production is flat in Russia, the world's second-ranked oil giant after Saudi Arabia. Civil unrest in Nigeria is knocking out about 1 million barrels per day."
And later...
"That question is hotly debated. The Commodities Futures Trading Commission, which regulates the trading of contracts for future delivery of oil — called futures — believes big pension funds and other institutional investors may accentuate a trend but are not the cause of high prices.
"If the fundamentals weren't strong, you couldn't play on the margin [speculate] in any event," said Frank Verrastro, director of energy programs for the policy research group Center for Strategic and International Studies."
Not to mention Mexico is set to be an net importer in about half a decade, as their largest oil field (and the world's second largest) crashes. Remember, after Canada, we get most of our imported oil from Mexico.
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