I understand that the US imports only about 30 some odd percent of it's oil from OPEC countries. It also gets some from Canada, itself (the US), and other non-OPEC countries. If this price that is reported on every day reflects only OPEC oil, why does our gas price track it so well. Can't we lean on other suppliers to make up for the OPEC price? Or, does that price reflect a global selling price - in which case, couldn't those agreements be broken?Does the closing price of oil reported on the news reflect the price of just OPEC oil?
No, the price reported is the global price.
What ';agreements'; are you referring to? Please come back and explain this in ';Additional Comments'; so that I may edit my answer.
And actually, the US gets more than half it's oil from OPEC countries (see link).
Edit: Yes, Canada, or anybody else, could sell oil to the US at a lower-than-market value, but why would they want to? Sure, the US would love it, but what would be the benefit to Canada to do so? They're not going to do it just because we want them to.
Wednesday, December 30, 2009
Let's talk oil and gas while the price of gas isn't killing us. What controls the price of oil? At what price,?
does the cost of a gallon of gas start to really hurt your household if married and you individually if not?
Is there an oil shortage or not?
What part do Wall Street oil speculators play in the price of a barrel of oil?
I see that gas is once again creeping up for no apparent reason. With demand at worldwide lows what has caused oil to go from thirty four a barrel to now over fifty?
Is oil the one commodity that can insure we stay chained to a bust and boom economy?Let's talk oil and gas while the price of gas isn't killing us. What controls the price of oil? At what price,?
I'll try to provide some background but first let me clarify the refinery issue. Perhaps half of the US Refineries have closed and no new ones built in the United States. The reason for closure was due to combination of efforts for economic reasons and environmental concerns as some were really outdated. Part of the reason new ones have not been built is environmental constraints and public approval. Not in MY Back Yard!
At the same time many refineries have been built overseas especially in producing countries. While they can be built cheaper and with less constraints in other countries, it adds importation cost to the US consumer as domestic refineries can't keep up with maximum demands.
Oil production and costs begin with an Oil Company buying a lease to extract product from the country owning mineral rights. In times of stable fuel prices, pre-70's, Oil Companies owned the leases and obtained their profit between there and the Refineries. The Gas Stations were basically seen as an outlet for the refined product and not essential in company profit. That changed when Countries nationalized their leases and opened them to Oil companies by competitive bids.
Cost at the 'Well Head' is relatively fixed by cost of the lease, exploration and production infrastructure. There is some valid speculation in this because prices may rise between acquisition of the lease and producing. One of the factors in today's increases is the cost of Exploration and Production Equipment have risen three-fold in the last 5 to 6 years.
Part of this increase, not justified in my opinion, is supply of exploration equipment in the United States is effectively monopolized by one company, 'National Oilwell Varco'. Due to the magnitude of their market you have to order equipment 2 to 3 years in advance. Additionally during the same period, Exploration resources have been consolidated into just a few companies that can name their own price. Transocean alone probably controls more than 60% of the floating Drilling Rigs. Seadrill is another in Deep-water Drilling.
As to the supply of oil, we are depleting known and easy to recover fields. This has increased Deep-water efforts requiring new technology and significantly more cost. The Deep-water costs encouraged increased costs in operation of existing rigs. Units making a profit thirty years ago at USD 75,000/day could, until the economic downturn, demand prices above USD 400,000 per day.
Oil exploration and recovery at depths exceeding 5,000 feet is only profitable when oil is at or above USD 75/bbl. Essentially oil is more expensive if derived at greater depths but the suppliers are not going to differentiate when they sell it, so the higher price applies.
Volatility of the Oil Market increased during the transition period of rising costs. Any market that fluctuates radically offers the potential of profit on speculation. The more speculators, the higher the prices.
Personally I think we should concentrate on alternative sources.Let's talk oil and gas while the price of gas isn't killing us. What controls the price of oil? At what price,?
Basically it is about greed. Big profits for the oil companies translates into big political contributions. Remember the last ';shortage';? Remember the investigative report on all those oil barges in a holding pattern at sea? In order to avoid the problems created with these so called ';shortages';, officials look the other way when the price get manipulated for no apparent reason ( except to boost their profits).
There is no oil shortage, quite the opposite, a glut of oil that forces the Middle Eastern oil cartel (OPEC) to keep lowering production and forcing the price up and that is Supply and Demand at work.
BTW, we do not need addition oil refineries, but if we do they are $30 billion each and take 10 years to construct so I am sure if there was a need someone would build them and reap the profit, right?
Oil company, car maker, government. Exchange money, power and money. Make money, give money, bribe with money, money is power.
It really is all about OPEC. They are able to artificially raise and lower prices as they see fit. They are a monopoly, and they hold all the cards. Until we're able to become energy independent, this won't ever end.
Here is Michael Greenbergers' statement to the Senate Commerce Committee, it may give you some insight on who really controls oil prices.
Obama's Saudi master controls the price.
Supply and demand, basic economics.
with gas prices where they are at now, nobody cares!!!
The demand for gas in the US is not very flexible in the short term but over a period of years when we have time to replace old cars it will drop substantially if the price of gas increases. The oil companies are aware of this so they do not increase their refining capacity to adjust to price increases as simple economic analysis predicts they should. Everyone in the market knows the the world demand for oil will increase over the next decades because of the improvement in the economies of India and China, but no way for new oil discoveries it increase supply to keep up, so they see higher prices in the future. This means most oil producers, not just OPEC do not want to deplete all their oil now by pumping as fast as the can. There is an economic theory about how they will behave tat explains part of what is happening in the markets for oil. see http://en.wikipedia.org/wiki/Hotelling%2鈥?/a>
their is also speculation and risk premiums for weather or trouble in the middle east that causes short term fluctuations in prices but if you account for the complications in the real world the price of gas is most determined by supply and demand.
you are trying pretty hard and i understand your dilemma, but the reason there haven't been any refineries built in well over 30 years has more to do with the envirowackos than the oil companies trying manipulate the price of oil. next would be since there is a small number of refineries they have to change the process of refining to meet the commitments of the government and the envirowackos as to the numerous blends they have to refine across the nation(not all gas is gas, if you know what i mean...i think there is something like 15 different blends they have to refine to satisfy all the cities, envirowackos and government). then you have the speculators, then all the foreign nations controlling output...look, this is getting tiresome...this is basic economics that can be researched in a plethora of information...i've gotten you started, now continue on with your research...if you have additional questions, we here on YA will be more than happy to help!!!!!
my point exactly...why pay the millions to research and apply for permits when you aren't guarenteed it'll be approved, and if the small number of people controlling capitalism want to impede growth in this country, i see no reason for the oil companies to build, they just sit back and listen to all the whining about fuel prices and laugh all the way to the bank. when american wakes up and realizes that oil is available and usable, only then will we produce what is needed and wanted. in the meantime, it gives us a buffer to research other usable products so we CAN get away from oil. i understand oil is a finite commodity, but there is enough around to provide years of research for a suitable substitute.
There are many factors.
First of all, there is the undeniable fact that this is a finite resource. Most of the easily extracted oil has already been extracted which leaves oil which is harder and harder to extract. This costs more and more to produce. (I actually think that Peak Oil is the real looming catastophe causing governments to push global warming legislation so hard because the solutions to the problems are so similar)
2nd, there is supply and demand. The producers can control how fast they extract the oil they control and bring it to market. They walk a tightrope between pricing themselves out of the market by producing too little and loss of value for their finite resource by producing too much.
3rd, we have dozens of special blends of gasoline to combat pollution. This is inefficient because refineries have to start and stop all the time to produce the various blends. This is why there is always a price spike in the spring when the various blends come online and a drop in fall when we go back to only a couple of them.
4th, there are speculators who drive the price rapidly up and down in ways which make it hard for the consumer to predict their costs. Sometimes this ends up with a massive price spike like last summer's.
5th, there are massive taxes on oil and gasoline. They are already the largest part of the price and some people want to raise them dramatically to make gasoline so expensive that competing technologies will replace it.
Right now, supply and demand is less of an issue as far as raising the price of oil. The demand is lower, so the price of oil is lower. The futures market effects the price. People have eased off on speculating on oil but there is still some of that going on. When there was too much gasoline flooding the market in the US, some oil companies closed some refineries which made the price of gas go up .20 to .30 per gallon. Also the price goes up on the weekend when there must be more demand for it. Its probably a good idea to fill up the gas tank on a Wednesday to get a better price. The price of gas will probably go up around Memorial Day and stay up all summer because of more demand.
The US stopped building refineries because of environmental issues and probably will not build any in the future since the use of oil will be diminished in the years to come. When people start going back to work, the price of oil/gas will go back up unless the Congress changes some laws about speculating in the oil markets. That is unlikely to happen because this administration appears to want the price of oil as high as possible to restrict use so people will transition from gasoline engines to alternative energy vehicles.
Is there an oil shortage or not?
What part do Wall Street oil speculators play in the price of a barrel of oil?
I see that gas is once again creeping up for no apparent reason. With demand at worldwide lows what has caused oil to go from thirty four a barrel to now over fifty?
Is oil the one commodity that can insure we stay chained to a bust and boom economy?Let's talk oil and gas while the price of gas isn't killing us. What controls the price of oil? At what price,?
I'll try to provide some background but first let me clarify the refinery issue. Perhaps half of the US Refineries have closed and no new ones built in the United States. The reason for closure was due to combination of efforts for economic reasons and environmental concerns as some were really outdated. Part of the reason new ones have not been built is environmental constraints and public approval. Not in MY Back Yard!
At the same time many refineries have been built overseas especially in producing countries. While they can be built cheaper and with less constraints in other countries, it adds importation cost to the US consumer as domestic refineries can't keep up with maximum demands.
Oil production and costs begin with an Oil Company buying a lease to extract product from the country owning mineral rights. In times of stable fuel prices, pre-70's, Oil Companies owned the leases and obtained their profit between there and the Refineries. The Gas Stations were basically seen as an outlet for the refined product and not essential in company profit. That changed when Countries nationalized their leases and opened them to Oil companies by competitive bids.
Cost at the 'Well Head' is relatively fixed by cost of the lease, exploration and production infrastructure. There is some valid speculation in this because prices may rise between acquisition of the lease and producing. One of the factors in today's increases is the cost of Exploration and Production Equipment have risen three-fold in the last 5 to 6 years.
Part of this increase, not justified in my opinion, is supply of exploration equipment in the United States is effectively monopolized by one company, 'National Oilwell Varco'. Due to the magnitude of their market you have to order equipment 2 to 3 years in advance. Additionally during the same period, Exploration resources have been consolidated into just a few companies that can name their own price. Transocean alone probably controls more than 60% of the floating Drilling Rigs. Seadrill is another in Deep-water Drilling.
As to the supply of oil, we are depleting known and easy to recover fields. This has increased Deep-water efforts requiring new technology and significantly more cost. The Deep-water costs encouraged increased costs in operation of existing rigs. Units making a profit thirty years ago at USD 75,000/day could, until the economic downturn, demand prices above USD 400,000 per day.
Oil exploration and recovery at depths exceeding 5,000 feet is only profitable when oil is at or above USD 75/bbl. Essentially oil is more expensive if derived at greater depths but the suppliers are not going to differentiate when they sell it, so the higher price applies.
Volatility of the Oil Market increased during the transition period of rising costs. Any market that fluctuates radically offers the potential of profit on speculation. The more speculators, the higher the prices.
Personally I think we should concentrate on alternative sources.Let's talk oil and gas while the price of gas isn't killing us. What controls the price of oil? At what price,?
Basically it is about greed. Big profits for the oil companies translates into big political contributions. Remember the last ';shortage';? Remember the investigative report on all those oil barges in a holding pattern at sea? In order to avoid the problems created with these so called ';shortages';, officials look the other way when the price get manipulated for no apparent reason ( except to boost their profits).
There is no oil shortage, quite the opposite, a glut of oil that forces the Middle Eastern oil cartel (OPEC) to keep lowering production and forcing the price up and that is Supply and Demand at work.
BTW, we do not need addition oil refineries, but if we do they are $30 billion each and take 10 years to construct so I am sure if there was a need someone would build them and reap the profit, right?
Oil company, car maker, government. Exchange money, power and money. Make money, give money, bribe with money, money is power.
It really is all about OPEC. They are able to artificially raise and lower prices as they see fit. They are a monopoly, and they hold all the cards. Until we're able to become energy independent, this won't ever end.
Here is Michael Greenbergers' statement to the Senate Commerce Committee, it may give you some insight on who really controls oil prices.
Obama's Saudi master controls the price.
Supply and demand, basic economics.
with gas prices where they are at now, nobody cares!!!
The demand for gas in the US is not very flexible in the short term but over a period of years when we have time to replace old cars it will drop substantially if the price of gas increases. The oil companies are aware of this so they do not increase their refining capacity to adjust to price increases as simple economic analysis predicts they should. Everyone in the market knows the the world demand for oil will increase over the next decades because of the improvement in the economies of India and China, but no way for new oil discoveries it increase supply to keep up, so they see higher prices in the future. This means most oil producers, not just OPEC do not want to deplete all their oil now by pumping as fast as the can. There is an economic theory about how they will behave tat explains part of what is happening in the markets for oil. see http://en.wikipedia.org/wiki/Hotelling%2鈥?/a>
their is also speculation and risk premiums for weather or trouble in the middle east that causes short term fluctuations in prices but if you account for the complications in the real world the price of gas is most determined by supply and demand.
you are trying pretty hard and i understand your dilemma, but the reason there haven't been any refineries built in well over 30 years has more to do with the envirowackos than the oil companies trying manipulate the price of oil. next would be since there is a small number of refineries they have to change the process of refining to meet the commitments of the government and the envirowackos as to the numerous blends they have to refine across the nation(not all gas is gas, if you know what i mean...i think there is something like 15 different blends they have to refine to satisfy all the cities, envirowackos and government). then you have the speculators, then all the foreign nations controlling output...look, this is getting tiresome...this is basic economics that can be researched in a plethora of information...i've gotten you started, now continue on with your research...if you have additional questions, we here on YA will be more than happy to help!!!!!
my point exactly...why pay the millions to research and apply for permits when you aren't guarenteed it'll be approved, and if the small number of people controlling capitalism want to impede growth in this country, i see no reason for the oil companies to build, they just sit back and listen to all the whining about fuel prices and laugh all the way to the bank. when american wakes up and realizes that oil is available and usable, only then will we produce what is needed and wanted. in the meantime, it gives us a buffer to research other usable products so we CAN get away from oil. i understand oil is a finite commodity, but there is enough around to provide years of research for a suitable substitute.
There are many factors.
First of all, there is the undeniable fact that this is a finite resource. Most of the easily extracted oil has already been extracted which leaves oil which is harder and harder to extract. This costs more and more to produce. (I actually think that Peak Oil is the real looming catastophe causing governments to push global warming legislation so hard because the solutions to the problems are so similar)
2nd, there is supply and demand. The producers can control how fast they extract the oil they control and bring it to market. They walk a tightrope between pricing themselves out of the market by producing too little and loss of value for their finite resource by producing too much.
3rd, we have dozens of special blends of gasoline to combat pollution. This is inefficient because refineries have to start and stop all the time to produce the various blends. This is why there is always a price spike in the spring when the various blends come online and a drop in fall when we go back to only a couple of them.
4th, there are speculators who drive the price rapidly up and down in ways which make it hard for the consumer to predict their costs. Sometimes this ends up with a massive price spike like last summer's.
5th, there are massive taxes on oil and gasoline. They are already the largest part of the price and some people want to raise them dramatically to make gasoline so expensive that competing technologies will replace it.
Right now, supply and demand is less of an issue as far as raising the price of oil. The demand is lower, so the price of oil is lower. The futures market effects the price. People have eased off on speculating on oil but there is still some of that going on. When there was too much gasoline flooding the market in the US, some oil companies closed some refineries which made the price of gas go up .20 to .30 per gallon. Also the price goes up on the weekend when there must be more demand for it. Its probably a good idea to fill up the gas tank on a Wednesday to get a better price. The price of gas will probably go up around Memorial Day and stay up all summer because of more demand.
The US stopped building refineries because of environmental issues and probably will not build any in the future since the use of oil will be diminished in the years to come. When people start going back to work, the price of oil/gas will go back up unless the Congress changes some laws about speculating in the oil markets. That is unlikely to happen because this administration appears to want the price of oil as high as possible to restrict use so people will transition from gasoline engines to alternative energy vehicles.
If Venezuela suddenly stopped selling the USA Oil, and gas prices soared to like 10 Dollars a gallon?
Should the USA invade and take what is rightfully ours?If Venezuela suddenly stopped selling the USA Oil, and gas prices soared to like 10 Dollars a gallon?
The price would then match those in the UK.
No, don't invade.If Venezuela suddenly stopped selling the USA Oil, and gas prices soared to like 10 Dollars a gallon?
No. We should finally let big oil stop blocking research into alternative energy sources. If not for a government that is in Big Oil's pockets, we would all be driving electrical cars or cars that could get 100mpg on water.
Are you asleep at the board ? Venezuela has.. and where were you when the Ven.. Pres was in NYC giving heating oil to those who can't afford the bill.
Get on to the senators and public officers to bring the price back to .25$ a gal.
Do your own hunt u may find far more then I can type.
Sure, why not invade the rest of the world at the same time.
Is there an end to the marching drums?
Why would Venezuelan oil be rightfully the US's? That doesnt even make sense.
Hugo could cut us off tomorrow. The cost of a gallon of gas would not go to $10 a gallon. Venezuela doesnt have that much oil to make that large of impact.
we send in the marines, and get what is rightfully ours.recipes cream
The price would then match those in the UK.
No, don't invade.If Venezuela suddenly stopped selling the USA Oil, and gas prices soared to like 10 Dollars a gallon?
No. We should finally let big oil stop blocking research into alternative energy sources. If not for a government that is in Big Oil's pockets, we would all be driving electrical cars or cars that could get 100mpg on water.
Are you asleep at the board ? Venezuela has.. and where were you when the Ven.. Pres was in NYC giving heating oil to those who can't afford the bill.
Get on to the senators and public officers to bring the price back to .25$ a gal.
Do your own hunt u may find far more then I can type.
Sure, why not invade the rest of the world at the same time.
Is there an end to the marching drums?
Why would Venezuelan oil be rightfully the US's? That doesnt even make sense.
Hugo could cut us off tomorrow. The cost of a gallon of gas would not go to $10 a gallon. Venezuela doesnt have that much oil to make that large of impact.
we send in the marines, and get what is rightfully ours.
Why have greedy oil ';speculators'; not continued to inflate oil prices at the expense of poor US drivers?
Has the left been forced to move on to new talking points?
Is it time to start blaming the Bush tax cuts again?
http://news.yahoo.com/s/nm/20081006/bs_n鈥?/a>Why have greedy oil ';speculators'; not continued to inflate oil prices at the expense of poor US drivers?
I'm open to the possibility of speculators attempting to manipulate asset prices. I'm also open to the possibility that the government could try to do so for its own purposes. However, in the long run prices are set by good ol' supply and demand. The price of oil is dropping because people believe that demand will decline with the economic downturn.
The left has plenty of talking points as does the right. People engaging political dialogue will use many dubious arguments to advance their agendas. I wish that I knew whether they were being dishonest or just ignorant.Why have greedy oil ';speculators'; not continued to inflate oil prices at the expense of poor US drivers?
duh, because we caught on to them~!
i have letter from Chuck Hagel and my Congressman stating they were putting extreme pressure on the speculaters and the naked short selling, and manipulating the stock prices~!
wow~!
so OPEC is sweating cause the price is getting too low~!
so i suppose the New Comfortable Price average will be $3.00 a gallon~!
Because as the price of oil rises and rises, demand falls and then suddenly people start to realize that oil is way overpriced and they start selling as quickly as they bought it and the price drops. Kinda like what happened with... housing!
Is it time to start blaming the Bush tax cuts again?
http://news.yahoo.com/s/nm/20081006/bs_n鈥?/a>Why have greedy oil ';speculators'; not continued to inflate oil prices at the expense of poor US drivers?
I'm open to the possibility of speculators attempting to manipulate asset prices. I'm also open to the possibility that the government could try to do so for its own purposes. However, in the long run prices are set by good ol' supply and demand. The price of oil is dropping because people believe that demand will decline with the economic downturn.
The left has plenty of talking points as does the right. People engaging political dialogue will use many dubious arguments to advance their agendas. I wish that I knew whether they were being dishonest or just ignorant.Why have greedy oil ';speculators'; not continued to inflate oil prices at the expense of poor US drivers?
duh, because we caught on to them~!
i have letter from Chuck Hagel and my Congressman stating they were putting extreme pressure on the speculaters and the naked short selling, and manipulating the stock prices~!
wow~!
so OPEC is sweating cause the price is getting too low~!
so i suppose the New Comfortable Price average will be $3.00 a gallon~!
Because as the price of oil rises and rises, demand falls and then suddenly people start to realize that oil is way overpriced and they start selling as quickly as they bought it and the price drops. Kinda like what happened with... housing!
What can we do with the gas prices not keeping up with low oil prices our gas should be down a lot more with ?
oil prices this low down in the $70-75 a barrel this low should make gas prices below $2.00 a gallon like before our gov. wont help us but will help banks and ins. bail out why not the rest nof us What can we do with the gas prices not keeping up with low oil prices our gas should be down a lot more with ?
Listen hun...the government thinks they are so slick. The only reason you are seeing the gas prices so low now compared to how high they were, is because election time is right around the corner. They want us all to forget what we went through with those soaring gas prices and give us the impression that everything is going to be okay, that would kind of mislead us into who we would vote for. By next week, the gas prices will continue to go down. So the best time for you to fill up would be around that time. Mark my words that as soon as elections are over, and the new president is chosen, the gas prices will SOAR up again!
EDIT: Thank you Docrock :)What can we do with the gas prices not keeping up with low oil prices our gas should be down a lot more with ?
You can't be more right than you are already ';Organic Love';.
I am firmly behind your opinion.
What's happening now with the oil price is just the carrot in front of the donkey mouth.
And after the election will come the hundred year storm.
Listen hun...the government thinks they are so slick. The only reason you are seeing the gas prices so low now compared to how high they were, is because election time is right around the corner. They want us all to forget what we went through with those soaring gas prices and give us the impression that everything is going to be okay, that would kind of mislead us into who we would vote for. By next week, the gas prices will continue to go down. So the best time for you to fill up would be around that time. Mark my words that as soon as elections are over, and the new president is chosen, the gas prices will SOAR up again!
EDIT: Thank you Docrock :)What can we do with the gas prices not keeping up with low oil prices our gas should be down a lot more with ?
You can't be more right than you are already ';Organic Love';.
I am firmly behind your opinion.
What's happening now with the oil price is just the carrot in front of the donkey mouth.
And after the election will come the hundred year storm.
Would the price of gas and oil take a dive on the day--?
that the President signed an Act of Congress authorizing the Department of Energy--- the authority to do whatever it takes to make this nation---self reliant for its energy needs---this authority being as great as the authority of the FED in the nation's Monetary Policy?----Would the price of gas and oil take a dive on the day--?
Yes it would, it has been proven before. In the 80's and 90's our oil companies started to look at shale oil extraction and coal to oil. It takes a barrel price of about $40.00 to do this type of extraction to make it profitable. When OPEC saw what we were doing, they increased the production and oil dropped to about $10.00 a barrel. Unfortunately our oil companies had to stop and now Congress has put most areas of shale oil off limits.
How many people were crying for oil companies back then when they were going out of business and causing massive job losses in many cities? Not many. Most were pushing alternative fuels and the environmentalist policies that got us into this mess.Would the price of gas and oil take a dive on the day--?
No, they would take a dive on the day Bernanke raised the federal funds rate by 100 bps.
Yes it would, it has been proven before. In the 80's and 90's our oil companies started to look at shale oil extraction and coal to oil. It takes a barrel price of about $40.00 to do this type of extraction to make it profitable. When OPEC saw what we were doing, they increased the production and oil dropped to about $10.00 a barrel. Unfortunately our oil companies had to stop and now Congress has put most areas of shale oil off limits.
How many people were crying for oil companies back then when they were going out of business and causing massive job losses in many cities? Not many. Most were pushing alternative fuels and the environmentalist policies that got us into this mess.Would the price of gas and oil take a dive on the day--?
No, they would take a dive on the day Bernanke raised the federal funds rate by 100 bps.
Why are we the American public allowing Apec to keep raising oil prices?
Firstly, it is OPEC --- The Organisation of Petroleum Exporting Countries.
Secondly, it is not OPEC that is rising the price of oil, it is the speculators on the New York Stock Exchange (in the minerals future market).
You need to know at least something about the topic before you ask questions.Why are we the American public allowing Apec to keep raising oil prices?
Because we Americans are addicted to oil and will do anything and pay any price to keep the supply coming.
The same reason that drug addicts don't so anything about the price of crack.Why are we the American public allowing Apec to keep raising oil prices?
The multinationals took the power away from the American people through lobbyists.
Time to talk to your politicians about what they've been doing to us.
What does the American public have to do with a private concern like OPEC .....???
Our government has no control over OPEC ....
I know what you mean by APEC - American Petrolium Extortion Consortium..otherwise know as the House and Senate.
Opec's oil is not our oil. We should use our own oil and let the rest of the world fight over Opec's oil.
Its OPEC and they aren't the ones responsible for high oil prices. Its because of our weak dollar. (The dollar not being worth as much as it used to be.)
Why ask questions that are embarrassing?
you have no authority over opec.
Its the speculators no one else.
i believe you mean OPEC. And, there's nothing anyone can do about it.
Secondly, it is not OPEC that is rising the price of oil, it is the speculators on the New York Stock Exchange (in the minerals future market).
You need to know at least something about the topic before you ask questions.Why are we the American public allowing Apec to keep raising oil prices?
Because we Americans are addicted to oil and will do anything and pay any price to keep the supply coming.
The same reason that drug addicts don't so anything about the price of crack.Why are we the American public allowing Apec to keep raising oil prices?
The multinationals took the power away from the American people through lobbyists.
Time to talk to your politicians about what they've been doing to us.
What does the American public have to do with a private concern like OPEC .....???
Our government has no control over OPEC ....
I know what you mean by APEC - American Petrolium Extortion Consortium..otherwise know as the House and Senate.
Opec's oil is not our oil. We should use our own oil and let the rest of the world fight over Opec's oil.
Its OPEC and they aren't the ones responsible for high oil prices. Its because of our weak dollar. (The dollar not being worth as much as it used to be.)
Why ask questions that are embarrassing?
you have no authority over opec.
Its the speculators no one else.
i believe you mean OPEC. And, there's nothing anyone can do about it.
The price of oil has dropped by 1/2 in the last 4 months - that means the price of gas has gone down by half..?
...right?
How come President Bush is all for every proposal except anything having to do with bringing oil profits down.
They have record profits AGAIN this year, and are the only businesses making steadily MORE money the worse the economy gets.
Could there be some connection?The price of oil has dropped by 1/2 in the last 4 months - that means the price of gas has gone down by half..?
the oil co's and the fat cat speculators see Obama coming! gas prices are down about half but the only way they will stay down is if Obama puts foot on their neck fast quick and in a freaking hurryThe price of oil has dropped by 1/2 in the last 4 months - that means the price of gas has gone down by half..?
Why not wait and see what the profits look like next quarter when the recent decline in prices it reported? The profit reporting is from when oil prices were still high. Going by the numbers, oil companies have a 10% profit margin. That is less than many other industries including computers and pharmaceutical companies.
People do not seem to realize that oil is used is so many aspects of our economy that the profits are going to be large no matter what. I am not as concerned with them at a 10% profits margin as I am with companies at 20% profit margins.
They are not the only business making more more as the economy declines. Take a look at other industries. Take a look at drug companies. There is growth out there, but the oil companies are an easy target to use to make people angry enough to support liberal policies. There is the connection.
The price of gas is now down to what it was two years ago. When deisel comes back down, then things will start looking a little more optinmistic because that is the one that influences the price of the goods in the stores.
The Warlock
Congress-Pelosi and comrades- won't allow Senate to vote on energy and oil drilling to help bring gas prices down.
Apparently I think someone wants to be loyal to her party than vote on the best interest of the American people. What happened to ';change'; Pelosi? Since 2006, their election year, they promised a better economy and lower gas prices! Since then, this economy is in shambles and gas doubled-except for election time.
Well, keep on taxing them. They might decide not to sell it at all, and we'll be sorry. Keep in mind that unnecessary tax is similar to putting price ceiling over the product. When government interfere with pricing system, something weird will happen.
Regulate the oil and petroleum industries. What they are doing is just rampant profiteering. Same with the finance industry - look what happens when you trust them to make the correct decisions for anybody but their CEOs.
CAPITOLISM IN AMERIKA WILL BE FOREVER CRUSHED YOUR OBAMA HAS MADE THE KREMLIN PROUD
http://www.youtube.com/watch?v=aYAR3R6R7Ts%26amp;feature=related
Hey nitwit ,do the math. Tax them and you are taxing yourself, do you REALLY think they won't pass that tax along and ensure doing so that JOE Public KNOWS what the increase in price is from.
DemocRATs are stupid.
Find a way to use less oil and gas since fossil fuels aren't infinite we need to discover new forms of energy to put to use.
Build more refineries for one thing, and find and utilize other sources of energy.
How come President Bush is all for every proposal except anything having to do with bringing oil profits down.
They have record profits AGAIN this year, and are the only businesses making steadily MORE money the worse the economy gets.
Could there be some connection?The price of oil has dropped by 1/2 in the last 4 months - that means the price of gas has gone down by half..?
the oil co's and the fat cat speculators see Obama coming! gas prices are down about half but the only way they will stay down is if Obama puts foot on their neck fast quick and in a freaking hurryThe price of oil has dropped by 1/2 in the last 4 months - that means the price of gas has gone down by half..?
Why not wait and see what the profits look like next quarter when the recent decline in prices it reported? The profit reporting is from when oil prices were still high. Going by the numbers, oil companies have a 10% profit margin. That is less than many other industries including computers and pharmaceutical companies.
People do not seem to realize that oil is used is so many aspects of our economy that the profits are going to be large no matter what. I am not as concerned with them at a 10% profits margin as I am with companies at 20% profit margins.
They are not the only business making more more as the economy declines. Take a look at other industries. Take a look at drug companies. There is growth out there, but the oil companies are an easy target to use to make people angry enough to support liberal policies. There is the connection.
The price of gas is now down to what it was two years ago. When deisel comes back down, then things will start looking a little more optinmistic because that is the one that influences the price of the goods in the stores.
The Warlock
Congress-Pelosi and comrades- won't allow Senate to vote on energy and oil drilling to help bring gas prices down.
Apparently I think someone wants to be loyal to her party than vote on the best interest of the American people. What happened to ';change'; Pelosi? Since 2006, their election year, they promised a better economy and lower gas prices! Since then, this economy is in shambles and gas doubled-except for election time.
Well, keep on taxing them. They might decide not to sell it at all, and we'll be sorry. Keep in mind that unnecessary tax is similar to putting price ceiling over the product. When government interfere with pricing system, something weird will happen.
Regulate the oil and petroleum industries. What they are doing is just rampant profiteering. Same with the finance industry - look what happens when you trust them to make the correct decisions for anybody but their CEOs.
CAPITOLISM IN AMERIKA WILL BE FOREVER CRUSHED YOUR OBAMA HAS MADE THE KREMLIN PROUD
http://www.youtube.com/watch?v=aYAR3R6R7Ts%26amp;feature=related
Hey nitwit ,do the math. Tax them and you are taxing yourself, do you REALLY think they won't pass that tax along and ensure doing so that JOE Public KNOWS what the increase in price is from.
DemocRATs are stupid.
Find a way to use less oil and gas since fossil fuels aren't infinite we need to discover new forms of energy to put to use.
Build more refineries for one thing, and find and utilize other sources of energy.
Is the accleration of mortgage defaults and bank failures and bailouts tied to the high oil prices ?
LOL the short answer is yes.. the long answer includes the World bank and the IMF.. or did you already know that?Is the accleration of mortgage defaults and bank failures and bailouts tied to the high oil prices ?
The bank failures are due to the bogus credit default swaps that the banks were using for insurance instead of real insurance.
The sub-prime loans were carried on their books as assets without devaluing them as they lost value. Instead of being traded they were simply puffing the worth of the banks.
The banks would use their apparent worth to buy credit swaps without itemized security in order to insure another bank for for six months (charging a fee of course) and the bank they insured did the same with a third bank, and the third with a fourth and so on in a round robin fashion.
Of course when the first bank (Bears %26amp; Sterns) crashed it triggered a call on all of the swaps and Guess what...they were backed by worthless paper.
That is why the government have to bail them out. The reason that they are not all in jail is that it was all legal due to the :
Commodity Futures Modernization Act of 2000
{The act specifically banned regulation of credit default swaps. These unregulated instruments, insurance policies against default on risky investments like mortgage backed securities, necessitated the government bailout of insurer A.I.G.}Is the accleration of mortgage defaults and bank failures and bailouts tied to the high oil prices ?
Partially. The real problem in our economy has not been discussed except very briefly by Obama.
The problem is we've lost jobs, wages have decreased, people (and government) havbe been living on credit and loans - while COL (Cost of Living) has been going up. Result - eventually, people can no longer afford their payments so they loose their car, house, vaction, etc. Then that triggers al lthis credit crunch because all those loans were bundled into packages and sold as investments (debt sold as investment. Think about it) which were in turn repacked and resold over and over until they were selling thse packages for far more than the dept they covered (and that people couldn't pay).
Part of the reason people couldn't afford the COL was rising oil prices which were artiifically forced up by brokers likely acting in behalf of oil clients. Notice that they've gone back down even after opil produciton stopped in the Gulf and the value of the dollar dropped. Why? Likely the President who has close ties to the oil industry asked them to hold off before they kill this goose that's been laying their golden eggs.
But the damge has been done. Oilk just dint' affect the consumer - it affected all industry across the nation forcing them to raise prices. So gas becomes more expensive along with everything else. More peole can't pay their bills, can't buy all the goods and services and we see a downward spiral developing. Government calls for big money to freak the market into buying again but nobody's buying it because nobody wants to deal with the basic problem: Loss of jobs and lower wages and increased COL.
If you mean that the Republicans under George Bush are responsible for these things happening to us then the answer is yes. George let all his buddies get real rich on oil prices then told his banker buddies to let anyone that could mark an x on their paper work have a loan. Now after they made all this money they want us to bail them out ands they can go get a massage with the money that we give them. I just want you to know that after he leaves office George Bush is going to get jobs on the boards of both oil companies and banking companies and all he will have to do is sign his billion dollar check and laugh all the way to the bank! Ha Ha Ha
yes and no. the resetting of payments to what they should have been in the 1st place....had they been UNDERWRITTEN that way, before DEREGULATION at the behest of NEO-CONS, those people woouldnt be in over their heads now and bringing down the economy cuz greedy bankers set us all up for the fall!!
High gas prices just exacerbated the misery of the poor saps who got caught up in the ';feeding frenzy!';
They never mention it on the news, but they will have to soon as this accelerated crash will keep crashing and crashing for what will seem like forever as our money and wealth get swallowed into the black hole of derivatives that amount to a quadrillion of just phony speculation that has absolutely no real capital that was used.
Yes.
The economy was placed, precariously, on the backs of the consumer who ran out of money when cost of living got too high.
No, it's tied to the ballooning payments of ARM.recipes cream
The bank failures are due to the bogus credit default swaps that the banks were using for insurance instead of real insurance.
The sub-prime loans were carried on their books as assets without devaluing them as they lost value. Instead of being traded they were simply puffing the worth of the banks.
The banks would use their apparent worth to buy credit swaps without itemized security in order to insure another bank for for six months (charging a fee of course) and the bank they insured did the same with a third bank, and the third with a fourth and so on in a round robin fashion.
Of course when the first bank (Bears %26amp; Sterns) crashed it triggered a call on all of the swaps and Guess what...they were backed by worthless paper.
That is why the government have to bail them out. The reason that they are not all in jail is that it was all legal due to the :
Commodity Futures Modernization Act of 2000
{The act specifically banned regulation of credit default swaps. These unregulated instruments, insurance policies against default on risky investments like mortgage backed securities, necessitated the government bailout of insurer A.I.G.}Is the accleration of mortgage defaults and bank failures and bailouts tied to the high oil prices ?
Partially. The real problem in our economy has not been discussed except very briefly by Obama.
The problem is we've lost jobs, wages have decreased, people (and government) havbe been living on credit and loans - while COL (Cost of Living) has been going up. Result - eventually, people can no longer afford their payments so they loose their car, house, vaction, etc. Then that triggers al lthis credit crunch because all those loans were bundled into packages and sold as investments (debt sold as investment. Think about it) which were in turn repacked and resold over and over until they were selling thse packages for far more than the dept they covered (and that people couldn't pay).
Part of the reason people couldn't afford the COL was rising oil prices which were artiifically forced up by brokers likely acting in behalf of oil clients. Notice that they've gone back down even after opil produciton stopped in the Gulf and the value of the dollar dropped. Why? Likely the President who has close ties to the oil industry asked them to hold off before they kill this goose that's been laying their golden eggs.
But the damge has been done. Oilk just dint' affect the consumer - it affected all industry across the nation forcing them to raise prices. So gas becomes more expensive along with everything else. More peole can't pay their bills, can't buy all the goods and services and we see a downward spiral developing. Government calls for big money to freak the market into buying again but nobody's buying it because nobody wants to deal with the basic problem: Loss of jobs and lower wages and increased COL.
If you mean that the Republicans under George Bush are responsible for these things happening to us then the answer is yes. George let all his buddies get real rich on oil prices then told his banker buddies to let anyone that could mark an x on their paper work have a loan. Now after they made all this money they want us to bail them out ands they can go get a massage with the money that we give them. I just want you to know that after he leaves office George Bush is going to get jobs on the boards of both oil companies and banking companies and all he will have to do is sign his billion dollar check and laugh all the way to the bank! Ha Ha Ha
yes and no. the resetting of payments to what they should have been in the 1st place....had they been UNDERWRITTEN that way, before DEREGULATION at the behest of NEO-CONS, those people woouldnt be in over their heads now and bringing down the economy cuz greedy bankers set us all up for the fall!!
High gas prices just exacerbated the misery of the poor saps who got caught up in the ';feeding frenzy!';
They never mention it on the news, but they will have to soon as this accelerated crash will keep crashing and crashing for what will seem like forever as our money and wealth get swallowed into the black hole of derivatives that amount to a quadrillion of just phony speculation that has absolutely no real capital that was used.
Yes.
The economy was placed, precariously, on the backs of the consumer who ran out of money when cost of living got too high.
No, it's tied to the ballooning payments of ARM.
Oil prices are dropping. How long before that translates into cheaper gas at the pump?
It may be the same as for the 2006 election. The Oil Producers know that the higher prices may result in a loss of power for their friendly Republican politicians. So the prices may decline until after the election only to spike again after November. It took only 2 days for that to happen after the 2006 election. In 2006 the price decline began near Labor Day so this time they are getting an earlier start seeing how many Congressional seats were lost to the Democrats in 2006.Oil prices are dropping. How long before that translates into cheaper gas at the pump?
They've dropped $6 a barrel and considering the past month events on Wall Street they could just as easily go up $10 tomorrow or next week. It would take a major, sustained drop of say $30 or $40 a barrel, before we would see an effect on pump prices.Oil prices are dropping. How long before that translates into cheaper gas at the pump?
The price of oil is anybodies guess right now. There is definitely a supply and demand problem with China sucking up as much as she is. If we don't drill our own real soon there will be a big problem.
Never. They will even out, then stay about the same until the next time we have an oil baron in office, or another ';crisis';
Don't hold your breath. And don't run out and buy that V-12 SUV either.
Its still going to a while. Prices can rush back up...
a few cents in a week or so. Then watch them go back up.
They've dropped $6 a barrel and considering the past month events on Wall Street they could just as easily go up $10 tomorrow or next week. It would take a major, sustained drop of say $30 or $40 a barrel, before we would see an effect on pump prices.Oil prices are dropping. How long before that translates into cheaper gas at the pump?
The price of oil is anybodies guess right now. There is definitely a supply and demand problem with China sucking up as much as she is. If we don't drill our own real soon there will be a big problem.
Never. They will even out, then stay about the same until the next time we have an oil baron in office, or another ';crisis';
Don't hold your breath. And don't run out and buy that V-12 SUV either.
Its still going to a while. Prices can rush back up...
a few cents in a week or so. Then watch them go back up.
Why is speculation a factor of rising oil prices?
Oil like many other commodities are traded on the open market...
so what happens is investors will buy up say 2,000 barrels of oil hoping the price of those barrels will go up...
now the most famous case happened last year...one man wanted to be the first to set the 100 a barrel record...at the time oil was trading just over $90 a barrel... so he placed his buy order above current market value at $100...didn't take long for speculators to jump on it....
so that's kind of what you see happening now...people buying oil at say $130 and placing a sell on it when it reaches $140+ oddly enough the major culprit in this are hedge fund managers and the folks who manage retirement funds...there under a lot of pressure to show monthly gains in those investments and with everything else falling oil is one of the few things that raise...
in other words the people that manage your own retirement fund are the reason your paying so much for gas right now....Why is speculation a factor of rising oil prices?
I am playing very big on oil trading, from Morgan Stanly, Goldman %26amp; Sachs on the Wall Street .
I bought millions and millions of barrels of oil when they cost $60--$100 a barrel. I expect to make a kill when I sell. But right now it’s only $145 a barrel. So here is my difficulty:
I already requested my agents spin the media, like: “Oil future looks high, expecting to be in the range of $200 a barrel soon. ” But it does not work price up as fast as I expected.
I have also demanded my agent playing “China demand high” blaming game.
I am glad to see that Congress is ignoring 19 top trade group’s letter demanding an end to rampant oil speculation
Also I am happy to see that the Media did not report it as I desired.
But how do I corner the oil future price up very fast ? fast enough in time so not to get caught ?Why is speculation a factor of rising oil prices?
Because the speculators only have to put up 5% cash to ';bet'; on the price going up or down. If they were required by law to put up more, instead of just ';paper'; they would have to risk a lot more and subsequently wouldn't be so cavalier about betting on prices going up because if they did and they were wrong, they would lose all their cash.
Speculation is the same as gambling. The price that speculators pay is what they think it ';will be';.
because if they think the price will go up...they bye more crap. which causes what they are trying to avoid!
u don't watch the new, pump your gas....? cnn.com, foxnew.com, and world new, local news
so what happens is investors will buy up say 2,000 barrels of oil hoping the price of those barrels will go up...
now the most famous case happened last year...one man wanted to be the first to set the 100 a barrel record...at the time oil was trading just over $90 a barrel... so he placed his buy order above current market value at $100...didn't take long for speculators to jump on it....
so that's kind of what you see happening now...people buying oil at say $130 and placing a sell on it when it reaches $140+ oddly enough the major culprit in this are hedge fund managers and the folks who manage retirement funds...there under a lot of pressure to show monthly gains in those investments and with everything else falling oil is one of the few things that raise...
in other words the people that manage your own retirement fund are the reason your paying so much for gas right now....Why is speculation a factor of rising oil prices?
I am playing very big on oil trading, from Morgan Stanly, Goldman %26amp; Sachs on the Wall Street .
I bought millions and millions of barrels of oil when they cost $60--$100 a barrel. I expect to make a kill when I sell. But right now it’s only $145 a barrel. So here is my difficulty:
I already requested my agents spin the media, like: “Oil future looks high, expecting to be in the range of $200 a barrel soon. ” But it does not work price up as fast as I expected.
I have also demanded my agent playing “China demand high” blaming game.
I am glad to see that Congress is ignoring 19 top trade group’s letter demanding an end to rampant oil speculation
Also I am happy to see that the Media did not report it as I desired.
But how do I corner the oil future price up very fast ? fast enough in time so not to get caught ?Why is speculation a factor of rising oil prices?
Because the speculators only have to put up 5% cash to ';bet'; on the price going up or down. If they were required by law to put up more, instead of just ';paper'; they would have to risk a lot more and subsequently wouldn't be so cavalier about betting on prices going up because if they did and they were wrong, they would lose all their cash.
Speculation is the same as gambling. The price that speculators pay is what they think it ';will be';.
because if they think the price will go up...they bye more crap. which causes what they are trying to avoid!
u don't watch the new, pump your gas....? cnn.com, foxnew.com, and world new, local news
The price of Oil is down 35% from August 5th.. meanwhile prices at the pump are down 7% ?
are those poor under-profited oil companies still struggling against all those nasty speculators? Or are they banking on the fact that people having dealt with 4.10 a gallon gas are pacified with 3.89 a gallon gas ?The price of Oil is down 35% from August 5th.. meanwhile prices at the pump are down 7% ?
They are price gouging people, and nothing short of that. Gas is a staple that people use as a means to utilize being productive in their life. It is a Utility and should be treated as such. This cr$$ about being nice to them is BS. They are not playing fair and should be investigated for this...of course you can't have people who profit from these actions actually being head of the investigations.The price of Oil is down 35% from August 5th.. meanwhile prices at the pump are down 7% ?
Those nasty speculators are the oil companies. Deregulating the commodities market (so industries can drive the price of their own raw materials up and their product's value) has lead to sky-high prices of necessities that used to be protected from drastic price increases with ceilings. Now it seems that food and transportation is increasingly a thing for the rich. That's wrong!
It proves there is no such thing as a ';Free Market'; and that free markets are never free and nor do they work as a market system. It proves that the oil corporations are more interested in keeping as much profit as possible and they get away with it because there is no real energy competition. It's not like Americans have a choice to buy an electric car because no one is making them. We are dependent on oil and the oil corporations like it that way.
People are stupid -- I'm still waiting for truckers to park their rigs across Washington DC.. but that ain't happening either. There's NO protests, just like Cheney must have drawn it all up, or nodded at least.. as they raped the Country for the last big Summer... prices went up BEFORE Ike hit, by the way.
Meanwhile Stock analysts on TV are scratching their heads about where to put your money -- when its been BIG OIL for 7 years now.
';Or are they banking on the fact that people having dealt with 4.10 a gallon gas are pacified with 3.89 a gallon gas ?';
Haha yeah probably - you know what they say, a commodity is worth only what people are willing to pay for it... that's what the free market is all about...
I only paid $3.55 for my last tank of gas and I'm pretty sure it was over $4.10 at it's highest, but I'll need to verify that. Still not down 35%, but it's much closer.
I think it's the latter. It's a good thing that Florida has started to subpoena some of the price gougers.
oilmen in the White House........
Mission Accomplished!!
Gas here is $4.35 since IKE!
Down? It went up $.35 in the last 7 days
Retail prices lag wholesale prices which lag crude oil prices. Both on the way up and on the way down. It's called ';sticky price'; and it causes retailers to have ultra-thin margins (gross margin per gallon of a nickel) when prices are rising and fatter margins (gm/gallon of 15 cents) when prices are falling.
http://ideas.repec.org/a/mcb/jmoncb/v36y…
Also please note, for the most part the retailers are independent - the ';oil company'; that pulls the oil out of the ground is not the same ';oil company'; that ships it to the refiner, which is not the same ';oil company'; that transports via pipeline or tanker the refined product to the wholesaler, which is not the same ';oil company'; that trucks the oil to the retailer, which is also not the same ';oil company.'; Oil and refined products as a whole is one of the most fragmented industries there is.
It takes several months for the oil price to catch up to the price at the pump. Remember, cyclical patterns in the cost of oil and gas - it's always high in the summer and winter when usage is high - and it's lower in the fall and spring. It'll catch up. Watch for a rise again right around the election. Happens every year.
What was the price of gas (when oil prices were going up) at $100 per barrel and then at $150 per barrel? The price of gas only went up slightly, even though oil increased by 50%!
Why didn't you and Mr. O'Reilly ';complain'; about that?
thats how the economy works. supply and demand, the system that runs in every government. if people are paying it the price will not change.
Prices go up faster than they go down, that's how it works.
Speculation
STFU, if you owned an oil company you would do the same thing.
They are price gouging people, and nothing short of that. Gas is a staple that people use as a means to utilize being productive in their life. It is a Utility and should be treated as such. This cr$$ about being nice to them is BS. They are not playing fair and should be investigated for this...of course you can't have people who profit from these actions actually being head of the investigations.The price of Oil is down 35% from August 5th.. meanwhile prices at the pump are down 7% ?
Those nasty speculators are the oil companies. Deregulating the commodities market (so industries can drive the price of their own raw materials up and their product's value) has lead to sky-high prices of necessities that used to be protected from drastic price increases with ceilings. Now it seems that food and transportation is increasingly a thing for the rich. That's wrong!
It proves there is no such thing as a ';Free Market'; and that free markets are never free and nor do they work as a market system. It proves that the oil corporations are more interested in keeping as much profit as possible and they get away with it because there is no real energy competition. It's not like Americans have a choice to buy an electric car because no one is making them. We are dependent on oil and the oil corporations like it that way.
People are stupid -- I'm still waiting for truckers to park their rigs across Washington DC.. but that ain't happening either. There's NO protests, just like Cheney must have drawn it all up, or nodded at least.. as they raped the Country for the last big Summer... prices went up BEFORE Ike hit, by the way.
Meanwhile Stock analysts on TV are scratching their heads about where to put your money -- when its been BIG OIL for 7 years now.
';Or are they banking on the fact that people having dealt with 4.10 a gallon gas are pacified with 3.89 a gallon gas ?';
Haha yeah probably - you know what they say, a commodity is worth only what people are willing to pay for it... that's what the free market is all about...
I only paid $3.55 for my last tank of gas and I'm pretty sure it was over $4.10 at it's highest, but I'll need to verify that. Still not down 35%, but it's much closer.
I think it's the latter. It's a good thing that Florida has started to subpoena some of the price gougers.
oilmen in the White House........
Mission Accomplished!!
Gas here is $4.35 since IKE!
Down? It went up $.35 in the last 7 days
Retail prices lag wholesale prices which lag crude oil prices. Both on the way up and on the way down. It's called ';sticky price'; and it causes retailers to have ultra-thin margins (gross margin per gallon of a nickel) when prices are rising and fatter margins (gm/gallon of 15 cents) when prices are falling.
http://ideas.repec.org/a/mcb/jmoncb/v36y…
Also please note, for the most part the retailers are independent - the ';oil company'; that pulls the oil out of the ground is not the same ';oil company'; that ships it to the refiner, which is not the same ';oil company'; that transports via pipeline or tanker the refined product to the wholesaler, which is not the same ';oil company'; that trucks the oil to the retailer, which is also not the same ';oil company.'; Oil and refined products as a whole is one of the most fragmented industries there is.
It takes several months for the oil price to catch up to the price at the pump. Remember, cyclical patterns in the cost of oil and gas - it's always high in the summer and winter when usage is high - and it's lower in the fall and spring. It'll catch up. Watch for a rise again right around the election. Happens every year.
What was the price of gas (when oil prices were going up) at $100 per barrel and then at $150 per barrel? The price of gas only went up slightly, even though oil increased by 50%!
Why didn't you and Mr. O'Reilly ';complain'; about that?
thats how the economy works. supply and demand, the system that runs in every government. if people are paying it the price will not change.
Prices go up faster than they go down, that's how it works.
Speculation
STFU, if you owned an oil company you would do the same thing.
Price for waste vegetable oil?
Does anyone know the going rate for waste vegetable oil in Western North Carolina?Price for waste vegetable oil?
$2/Gallon. I collect, and ';sell'; small quantities to people that using it as fuel in diesel engines in Charleston SC and Charlotte NC.
Leon
http://wvodesigns.com
http://foreignoilfreedom.com/Price for waste vegetable oil?
You'll have to find local buyers to get that info.
Recent news on grease theft mentions that it's going for about 33垄/lb, or about $2.50/gallon.
$2/Gallon. I collect, and ';sell'; small quantities to people that using it as fuel in diesel engines in Charleston SC and Charlotte NC.
Leon
http://wvodesigns.com
http://foreignoilfreedom.com/Price for waste vegetable oil?
You'll have to find local buyers to get that info.
Recent news on grease theft mentions that it's going for about 33垄/lb, or about $2.50/gallon.
Hello all, anybody know wedsite for gold, oil, olive oil, diamond, update price also with chart (live)?
live priceHello all, anybody know wedsite for gold, oil, olive oil, diamond, update price also with chart (live)?
http://www.dtfutures.com/indexg.htmlHello all, anybody know wedsite for gold, oil, olive oil, diamond, update price also with chart (live)?
If you wish to buy or sell, try EBay.in (India), registration is free. You may even participate in auctions, they do come cheap,and go for quality assured sellers.
http://www.dtfutures.com/indexg.htmlHello all, anybody know wedsite for gold, oil, olive oil, diamond, update price also with chart (live)?
If you wish to buy or sell, try EBay.in (India), registration is free. You may even participate in auctions, they do come cheap,and go for quality assured sellers.
3000 young soldiers and at least 150000 irakian civils killed. Is it a low price for billions of oil-dollars ?
I just want to agree with you and remind KV C that Iraq had NOTHING, I repeat NOTHING to do with 9/11. That was the Saudis!
As for FREEDOM. Iraqi freed dom was not the reason given for going to war. WMDS, 9/11... they were lies that were used.3000 young soldiers and at least 150000 irakian civils killed. Is it a low price for billions of oil-dollars ?
Saddam killed millions, now he is gone people are going around killing each other and we are trying to stop them, we in the military choose to do what we do. we see the price of freedom and you have no idea what it would be like if people like me said no. if you were to write this over there the government would kill you so SHUT THE F### UP and enjoy the freedoms we sacrifice to let you abuse.3000 young soldiers and at least 150000 irakian civils killed. Is it a low price for billions of oil-dollars ?
You seem to forget WHY those 3,000 soldiers gave their lives....for FREEDOM.
You also forget that another 3,000 innocent men, women, and children lost THEIR lives when terrorists flew aircraft in to the World Trade Centers, the Pentagon, and an open field in Pennsylvania!
This war has NOTHING to do with oil in the sense many want to think it does. It has EVERYTHING to do with the human treatment of people around the world...not just in Iraq.
When a pocket of thugs can climb aboard an aircraft or strap on a bomb...extinguish many lives in a breath...then it's time to stand up for our freedom to live without fear of these thugs blowing us up!
Best wishes!
Do you drive a car...if so, stop. Then you can stop being a hypocrite. Heres one for you. In the worst month for American solders, 85 died. In the last year, the bloodiest month for murders in Detroit, 87 people were murdered. Why don't you or the media talk about that? Oh wait, Bush didn't have anything to do with it, so you could care less.
Learn to spell.
If you think that they lost their lives for oil; then you are sadly mistaken. Our troops are fighting to keep us in America safe %26amp; secure. You are demeaning our troops %26amp; the scarfices they make every day.
Even one life is far to much!recipes cream
As for FREEDOM. Iraqi freed dom was not the reason given for going to war. WMDS, 9/11... they were lies that were used.3000 young soldiers and at least 150000 irakian civils killed. Is it a low price for billions of oil-dollars ?
Saddam killed millions, now he is gone people are going around killing each other and we are trying to stop them, we in the military choose to do what we do. we see the price of freedom and you have no idea what it would be like if people like me said no. if you were to write this over there the government would kill you so SHUT THE F### UP and enjoy the freedoms we sacrifice to let you abuse.3000 young soldiers and at least 150000 irakian civils killed. Is it a low price for billions of oil-dollars ?
You seem to forget WHY those 3,000 soldiers gave their lives....for FREEDOM.
You also forget that another 3,000 innocent men, women, and children lost THEIR lives when terrorists flew aircraft in to the World Trade Centers, the Pentagon, and an open field in Pennsylvania!
This war has NOTHING to do with oil in the sense many want to think it does. It has EVERYTHING to do with the human treatment of people around the world...not just in Iraq.
When a pocket of thugs can climb aboard an aircraft or strap on a bomb...extinguish many lives in a breath...then it's time to stand up for our freedom to live without fear of these thugs blowing us up!
Best wishes!
Do you drive a car...if so, stop. Then you can stop being a hypocrite. Heres one for you. In the worst month for American solders, 85 died. In the last year, the bloodiest month for murders in Detroit, 87 people were murdered. Why don't you or the media talk about that? Oh wait, Bush didn't have anything to do with it, so you could care less.
Learn to spell.
If you think that they lost their lives for oil; then you are sadly mistaken. Our troops are fighting to keep us in America safe %26amp; secure. You are demeaning our troops %26amp; the scarfices they make every day.
Even one life is far to much!
Is their a relationship to crude oil and DOW stock prices?
Crude oil prices go up Dow stock prices fall or move together or vise verse.Is their a relationship to crude oil and DOW stock prices?
The correlation has been very tight since late 2007, but at some point, with the US Dollar decoupling itself from the stock market, the oil markets will follow suit.
This will eventually happen as crude oil is priced around the world in US Dollars. At some point the market will trade based upon higher oil prices leaves less for consumers to spend elsewhere.
Look at crude in the $70 range right now. Gas prices for unleaded regular is $2.94 in Northern California. Imagine what they would be if we tested the all time continuous contract highs in the $140's.Is their a relationship to crude oil and DOW stock prices?
None directly. It depends on the relative price of oil. Higher stock prices and higher oil prices can mean the economy is expected to get stronger. But if oil goes too high stock prices may go down, because oil is a cost to many businesses. If it becomes too high they cant afford it, and cant raise their prices, and it lowers their profit margins.
Yes, Crude oil contracts are closely corelated by the movement of equity markets than it's own fundamentals.
Proof:
When this contracts spends lot of time below RSI 30 or Above RSI 70 , it is definitely a proof that it is moving based on markets than by it's own fundamnetals.
Unless, there is some fresh bearish or bullish news about the crude out which traders have not digested , there is no point of crude spending more time below RSI 30 or above RSI 70.
so, where is this fresh news coming from????
Of course, we dont get fundamentl news about oil until every wednesday where EIA releases report or any other OPEC meeting report.
But, still, RSI is loitering more time below RSI 30 or above RSI 70 ....so, Now, ask yourself, where is this fresh news coming from?
answer is, stock market movements!!!!!
so, it is a proof, that crude oil is closely correlated by stock market movements for time being atleast.
The correlation has been very tight since late 2007, but at some point, with the US Dollar decoupling itself from the stock market, the oil markets will follow suit.
This will eventually happen as crude oil is priced around the world in US Dollars. At some point the market will trade based upon higher oil prices leaves less for consumers to spend elsewhere.
Look at crude in the $70 range right now. Gas prices for unleaded regular is $2.94 in Northern California. Imagine what they would be if we tested the all time continuous contract highs in the $140's.Is their a relationship to crude oil and DOW stock prices?
None directly. It depends on the relative price of oil. Higher stock prices and higher oil prices can mean the economy is expected to get stronger. But if oil goes too high stock prices may go down, because oil is a cost to many businesses. If it becomes too high they cant afford it, and cant raise their prices, and it lowers their profit margins.
Yes, Crude oil contracts are closely corelated by the movement of equity markets than it's own fundamentals.
Proof:
When this contracts spends lot of time below RSI 30 or Above RSI 70 , it is definitely a proof that it is moving based on markets than by it's own fundamnetals.
Unless, there is some fresh bearish or bullish news about the crude out which traders have not digested , there is no point of crude spending more time below RSI 30 or above RSI 70.
so, where is this fresh news coming from????
Of course, we dont get fundamentl news about oil until every wednesday where EIA releases report or any other OPEC meeting report.
But, still, RSI is loitering more time below RSI 30 or above RSI 70 ....so, Now, ask yourself, where is this fresh news coming from?
answer is, stock market movements!!!!!
so, it is a proof, that crude oil is closely correlated by stock market movements for time being atleast.
When the Govt. allowed an increase in gas prices it claimed a link between gas & oil prices to be the reason.?
Why is it not the case therefore that since oil has fallen to more or less its original price as in July 2008 have gas prices not gone down proportionally ????
When the Govt. allowed an increase in gas prices it claimed a link between gas %26amp; oil prices to be the reason.?
Because gas is purchased wholesale months in advance. When the negociations were going on oil was high hence gas prices higher. Assuming oil remains the same or falls I would expect gas to come off towards the end of next year - although dont be surprised if there is another price increase before then.
When the Govt. allowed an increase in gas prices it claimed a link between gas %26amp; oil prices to be the reason.?
We shall never know the truth.
First we were told that the gas prices skyrocketed because of great demand and than we were told because the demand had been down.
Since we cannot do anything else as citizens, let us at least demand, that the oil companies pay higher taxes. It is our money anyway. We
filled their pockets to the hilt.
Because when the cost of a barrel of oil increased, the cost of gas did not increase proportionately.
The government does not regulate gas prices.
When the Govt. allowed an increase in gas prices it claimed a link between gas %26amp; oil prices to be the reason.?
Because gas is purchased wholesale months in advance. When the negociations were going on oil was high hence gas prices higher. Assuming oil remains the same or falls I would expect gas to come off towards the end of next year - although dont be surprised if there is another price increase before then.
When the Govt. allowed an increase in gas prices it claimed a link between gas %26amp; oil prices to be the reason.?
We shall never know the truth.
First we were told that the gas prices skyrocketed because of great demand and than we were told because the demand had been down.
Since we cannot do anything else as citizens, let us at least demand, that the oil companies pay higher taxes. It is our money anyway. We
filled their pockets to the hilt.
Because when the cost of a barrel of oil increased, the cost of gas did not increase proportionately.
The government does not regulate gas prices.
World price of crued oil in the past three years?
There's a historical summary here: http://inflationdata.com/inflation/Infla鈥?/a>
There are also historical tables here: http://www.eia.doe.gov/emeu/mer/prices.h鈥?/a>World price of crued oil in the past three years?
crued oil is free, since it does not exist.
crude oil prices over the last 3 years can easily be found be doing very simple and obvious searches on line.
There are also historical tables here: http://www.eia.doe.gov/emeu/mer/prices.h鈥?/a>World price of crued oil in the past three years?
crued oil is free, since it does not exist.
crude oil prices over the last 3 years can easily be found be doing very simple and obvious searches on line.
What is OPEC doing to oil prices? How are they going about accomplishing their goal?
OPEC is always trying to maximize it profits. It is a monopolistic cabal of oil producers. It maintains its monopoly the same way that all monopolies are maintained, with governmental acquiescence.
OPEC has bought politicians. These politicians tell us how concerned they are about the environment. Because they are such environmentalists, they can always find a reason why we can't get oil out of the ground, or transport it, or drill it off shore.
There really is no shortage of oil on this planet. That is another lie foisted on up by politicians who are bought and paid for, and mainstream media, who are also in bed with big oil.
Get government out of the way and let the free market prevail and you will see oil prices plummet.What is OPEC doing to oil prices? How are they going about accomplishing their goal?
They are making the prices rise. They go about this by controlling how much oil is produced by member-states, thus causing a shortage and increasing demand. Simple manipulation of the law of supply and demand.What is OPEC doing to oil prices? How are they going about accomplishing their goal?
I read a story on Gulf News yesterday that they are storing 500,000 barrels per day now and are trying to cut production ASAP. Of course much of this is to keep prices up. Nigeria's fields have been attacked and their production is down. Saudi Arabia is making up their portion.
The thing with OPEC, and Saudi Arabia is that the Saudis don't even publicly state how much oil they have left. They could only have a few million barrels left. They dont give any estimates, just that ';there's a lot left';.
OPEC has bought politicians. These politicians tell us how concerned they are about the environment. Because they are such environmentalists, they can always find a reason why we can't get oil out of the ground, or transport it, or drill it off shore.
There really is no shortage of oil on this planet. That is another lie foisted on up by politicians who are bought and paid for, and mainstream media, who are also in bed with big oil.
Get government out of the way and let the free market prevail and you will see oil prices plummet.What is OPEC doing to oil prices? How are they going about accomplishing their goal?
They are making the prices rise. They go about this by controlling how much oil is produced by member-states, thus causing a shortage and increasing demand. Simple manipulation of the law of supply and demand.What is OPEC doing to oil prices? How are they going about accomplishing their goal?
I read a story on Gulf News yesterday that they are storing 500,000 barrels per day now and are trying to cut production ASAP. Of course much of this is to keep prices up. Nigeria's fields have been attacked and their production is down. Saudi Arabia is making up their portion.
The thing with OPEC, and Saudi Arabia is that the Saudis don't even publicly state how much oil they have left. They could only have a few million barrels left. They dont give any estimates, just that ';there's a lot left';.
Will this help bring down oil prices?
Tahiti Deepwater Project, United States – The Tahiti field, discovered off the coast of Louisiana, is believed to be one of the Gulf of Mexico's largest deepwater discoveries, with potentially recoverable volumes of 400 million to 500 million oil-equivalent barrels. This $4.7 billion project is anticipated to create a peak production of 125,000 barrels of oil per day and 70 million cubic feet of natural gas. First oil is expected in 2009.Will this help bring down oil prices?
No. Oil prices are 'fixed'. Imagine that this field's oil, costs only $100 per barrel. Within a week, everybody with money would have bought up all the stock, and taken futures on the rest (underground) And why sell it to the USA if the rest of the world is willing to pay $140. I might be patriotic, but still a business man.
Peace.Will this help bring down oil prices?
I just watched CNN’s international Channel(3pm EST), breaking the news that oil price spikes again. But the anchor and the reporter assert it is China’s diesel demand contributed to the hike.
Waited a sec ! It is already THIRD time I am hearing CNN’s assertion of China’s diesel demand. The first time was about two weeks ago. What’s going on?
Then, Israel’s-Iran-attack-drill news flashing back-------Which Was Just Happened This Morning ! That “unmistakable signal” is surely an act to have a consequence of oil supply disruption ! Why is it not reported as a oil spiking cause ? !
Time to scapegoat China again before a major offensive ? To verify, I went to CNN web site , there it is :
China hikes fuel prices http://money.cnn.com/2008/06/20/news/int…
China to raise energy prices
http://money.cnn.com/2008/06/19/news/int…
But nowhere saying that Israel’s-Iran-attack-drill will unstablize the oil supply region, causing the oil price up.
For Israelis Iran Strike Drill see
http://www.jpost.com/servlet/Satellite?c…
Demand has gotten so high that it would take 33 billion barrels per day just to keep up with demand. Get ready for even higher gas prices. Mark my word, a year from now the average person will not be able to afford gas.
Is the Tahiti oil stored underground in a thimble?
If oil consumption went down,it might be viable,but how is this tiny discovery going to work out financially?
I can see no downturn in the price of gasoline.
Not much. The US consumes 9.3 million barrels of oil per day, 125,000 won't make that huge of a dent in it.
No. Oil prices are 'fixed'. Imagine that this field's oil, costs only $100 per barrel. Within a week, everybody with money would have bought up all the stock, and taken futures on the rest (underground) And why sell it to the USA if the rest of the world is willing to pay $140. I might be patriotic, but still a business man.
Peace.Will this help bring down oil prices?
I just watched CNN’s international Channel(3pm EST), breaking the news that oil price spikes again. But the anchor and the reporter assert it is China’s diesel demand contributed to the hike.
Waited a sec ! It is already THIRD time I am hearing CNN’s assertion of China’s diesel demand. The first time was about two weeks ago. What’s going on?
Then, Israel’s-Iran-attack-drill news flashing back-------Which Was Just Happened This Morning ! That “unmistakable signal” is surely an act to have a consequence of oil supply disruption ! Why is it not reported as a oil spiking cause ? !
Time to scapegoat China again before a major offensive ? To verify, I went to CNN web site , there it is :
China hikes fuel prices http://money.cnn.com/2008/06/20/news/int…
China to raise energy prices
http://money.cnn.com/2008/06/19/news/int…
But nowhere saying that Israel’s-Iran-attack-drill will unstablize the oil supply region, causing the oil price up.
For Israelis Iran Strike Drill see
http://www.jpost.com/servlet/Satellite?c…
Demand has gotten so high that it would take 33 billion barrels per day just to keep up with demand. Get ready for even higher gas prices. Mark my word, a year from now the average person will not be able to afford gas.
Is the Tahiti oil stored underground in a thimble?
If oil consumption went down,it might be viable,but how is this tiny discovery going to work out financially?
I can see no downturn in the price of gasoline.
Not much. The US consumes 9.3 million barrels of oil per day, 125,000 won't make that huge of a dent in it.
Bush Busters: lol.... Why is the price of gas sooo high and the price of OIL so low??
cant say its WMD... lolBush Busters: lol.... Why is the price of gas sooo high and the price of OIL so low??
Because there's not really a ';Bush oil'; conspiracy like all the libs keep saying...only an idiot would believe that one. (look above me)Bush Busters: lol.... Why is the price of gas sooo high and the price of OIL so low??
http://vpoet.net/flash/youare.swf
Demand combined with inadequate refining capacity. Part of the refining problem is due to Katrina, but oil companies are reluctant to build more refineries . Why? Draw your own conclusions.
Could it be greed.. And don't let them tell you it because of the processing plants aren't at full capacity that's Bull! If that was true the Oil companies would not be making record PROFITS.
The Link the guy above posted is sponsored by a Oil company! geeezzz!!!
That's is easy, greed!!!! lol...lol
Oil is above $66/barrel, since when was that low?
http://www.bloomberg.com/energy/
Must be all of that free oil that the libs are claiming we are stealing from Iraq.
Oil is so low? Really?? If you say so.
The price of oil is high. I worked at an oilfield speciality shop in Oklahoma for 7 years. Our shops productivity depended on the price of oil. The price of oil when I started in 1997 was around 25 bucks a barrell, on average, and that was during the Clinton administration. The price of gasoline in Oklahoma, at that time, was 79 cents to 90 cents on average. We would sit around the shop some days with nothing to do.
Once the terrorists struck in 2001, the price of oil skyrocketed. I saw it go up to 75 bucks a barrell. We had many, many orders from the local oil companies for equipment. We stayed really busy and the price of gasoline in Oklahoma went up to 3.00 dollars a gallon. The price of gas in Oklahoma is about 2.48 a gallon. I have no idea what the price of oil is a barrell because I left the oil field company.
I can tell you that this war is not about oil. If we are stealing oil, the price per barrell would be extremely low, and the local companies would be out of business because we would not need domestic oil supplies.
I am not a republican or liberal, but I can see the reality of the situation.
Were you always this stupid or did you have formal training. The price of oil isn't low. $66 a barrel.
If you think that oil is low you are nuts. $66+ per barrel imported is not cheap. What is disgusting is that US oil is only getting half of that.
The price of gas is assessed post production/refining. The refineries are in the US and are not controlled by the president. Also, each individual state assesses taxes on fuel and that is the most influential contributor to the cost of gasoline.
Because The gas companies know that Americans will still buy it no matter what the price
Umm...crude oil is at an all-time high. Not sure where you got that info, but it's wrong.
Traders use any excuse imaginable to raise the price of crude.
Because this current conflict in Iran has once again made oil prices get higher.
Also because the ';save the world'; people will not allow another oil-refinery built here in America, and now that we have over 300,000,000 people we consume a lot of gasoline products.
Some idiot is surely going to say it's due to supply and demand and then they'll quote a bunch of economic priciples from a text book. LMAO!
Shouldn't you be in school?
Trust me - you should be.
Gas and oil are two diferent things. Sure you need oil to produce the gas, but you also need water to produce your cup of coffee. Compare the price of water to the price of a cup of coffee and you might understand.
No but I can say you have no clue
http://www.conocophillips.com/newsroom/o鈥?/a>
cause libs place so many taxes on the finished product and don't allow for new and efficient refineries to be built. and also because of Weapons of Mass Destruction.
Everytime the oil companies announce their earnings they have broken another record for profits.They are bloodsucking leeches just like credit card companies.These are the type of people that Republicans protect.Its disgusting.
Yes, I can! It is because of WMD.
Let me see..... Oh yeah, the Bush family's oil profits!!! That's right!!!!
We are on the same page but the facts remain that Wile E. Coyote is running things from a cave in northern california. The ROADERRUNNER has been killed (we covered that) and WILE E needs lots of gas.
neoCONS on Yahoo are fools and really dont represent the majority of opinions nationwide 27% is about all you NeoCONJOBS got. They like to rove around in groups in Y/A and spew their Venom as much as possible.They only reapresent 1/4 of the US POP.They are blind to true facts like for example: Bush is PRO AMNESTY !They are in denial, its funny how fast they are losing power though!
The price of oil is at record highs. What makes you think oil prices are low? Don't you get the news? Even Faux news network knows the price of oil. Obviously you don't. If I were that misinformed I wouldn't want to get onto a public forum like this and demostrate that to the world. But I guess you have no shame.
George and Dick need retirement money.recipes cream
Because there's not really a ';Bush oil'; conspiracy like all the libs keep saying...only an idiot would believe that one. (look above me)Bush Busters: lol.... Why is the price of gas sooo high and the price of OIL so low??
http://vpoet.net/flash/youare.swf
Demand combined with inadequate refining capacity. Part of the refining problem is due to Katrina, but oil companies are reluctant to build more refineries . Why? Draw your own conclusions.
Could it be greed.. And don't let them tell you it because of the processing plants aren't at full capacity that's Bull! If that was true the Oil companies would not be making record PROFITS.
The Link the guy above posted is sponsored by a Oil company! geeezzz!!!
That's is easy, greed!!!! lol...lol
Oil is above $66/barrel, since when was that low?
http://www.bloomberg.com/energy/
Must be all of that free oil that the libs are claiming we are stealing from Iraq.
Oil is so low? Really?? If you say so.
The price of oil is high. I worked at an oilfield speciality shop in Oklahoma for 7 years. Our shops productivity depended on the price of oil. The price of oil when I started in 1997 was around 25 bucks a barrell, on average, and that was during the Clinton administration. The price of gasoline in Oklahoma, at that time, was 79 cents to 90 cents on average. We would sit around the shop some days with nothing to do.
Once the terrorists struck in 2001, the price of oil skyrocketed. I saw it go up to 75 bucks a barrell. We had many, many orders from the local oil companies for equipment. We stayed really busy and the price of gasoline in Oklahoma went up to 3.00 dollars a gallon. The price of gas in Oklahoma is about 2.48 a gallon. I have no idea what the price of oil is a barrell because I left the oil field company.
I can tell you that this war is not about oil. If we are stealing oil, the price per barrell would be extremely low, and the local companies would be out of business because we would not need domestic oil supplies.
I am not a republican or liberal, but I can see the reality of the situation.
Were you always this stupid or did you have formal training. The price of oil isn't low. $66 a barrel.
If you think that oil is low you are nuts. $66+ per barrel imported is not cheap. What is disgusting is that US oil is only getting half of that.
The price of gas is assessed post production/refining. The refineries are in the US and are not controlled by the president. Also, each individual state assesses taxes on fuel and that is the most influential contributor to the cost of gasoline.
Because The gas companies know that Americans will still buy it no matter what the price
Umm...crude oil is at an all-time high. Not sure where you got that info, but it's wrong.
Traders use any excuse imaginable to raise the price of crude.
Because this current conflict in Iran has once again made oil prices get higher.
Also because the ';save the world'; people will not allow another oil-refinery built here in America, and now that we have over 300,000,000 people we consume a lot of gasoline products.
Some idiot is surely going to say it's due to supply and demand and then they'll quote a bunch of economic priciples from a text book. LMAO!
Shouldn't you be in school?
Trust me - you should be.
Gas and oil are two diferent things. Sure you need oil to produce the gas, but you also need water to produce your cup of coffee. Compare the price of water to the price of a cup of coffee and you might understand.
No but I can say you have no clue
http://www.conocophillips.com/newsroom/o鈥?/a>
cause libs place so many taxes on the finished product and don't allow for new and efficient refineries to be built. and also because of Weapons of Mass Destruction.
Everytime the oil companies announce their earnings they have broken another record for profits.They are bloodsucking leeches just like credit card companies.These are the type of people that Republicans protect.Its disgusting.
Yes, I can! It is because of WMD.
Let me see..... Oh yeah, the Bush family's oil profits!!! That's right!!!!
We are on the same page but the facts remain that Wile E. Coyote is running things from a cave in northern california. The ROADERRUNNER has been killed (we covered that) and WILE E needs lots of gas.
neoCONS on Yahoo are fools and really dont represent the majority of opinions nationwide 27% is about all you NeoCONJOBS got. They like to rove around in groups in Y/A and spew their Venom as much as possible.They only reapresent 1/4 of the US POP.They are blind to true facts like for example: Bush is PRO AMNESTY !They are in denial, its funny how fast they are losing power though!
The price of oil is at record highs. What makes you think oil prices are low? Don't you get the news? Even Faux news network knows the price of oil. Obviously you don't. If I were that misinformed I wouldn't want to get onto a public forum like this and demostrate that to the world. But I guess you have no shame.
George and Dick need retirement money.
What group is resp. for the rise in oil prices in the 1970s?
SaudisWhat group is resp. for the rise in oil prices in the 1970s?
The Big 3 Auto Companies, for building gas-guzzling cars
The American People, for buying them.
(I know, you want us to say OPEC).What group is resp. for the rise in oil prices in the 1970s?
Duh.
OPEC.
And Jimmy Carter.
The Big 3 Auto Companies, for building gas-guzzling cars
The American People, for buying them.
(I know, you want us to say OPEC).What group is resp. for the rise in oil prices in the 1970s?
Duh.
OPEC.
And Jimmy Carter.
If HM Treasury is getting so much extra money from high oil prices, why don't they lower taxes?
to help stimulate the economy.If HM Treasury is getting so much extra money from high oil prices, why don't they lower taxes?
HAhahahahahahahahahahahahahahahahahahhah鈥?br>
common sense and politics bad mix!If HM Treasury is getting so much extra money from high oil prices, why don't they lower taxes?
Contrary to popular perception, the Government is not getting so much extra in tax, for two reasons, the first is that there is no extra fuel duty just the extra VAT on the pump price so an additional 30p per litre at the pump only 4p is extra tax to the revenue, and the second is that high prices mean people are starting to use less, so the total revenue may actually be going down.
The second aspect is that the Government actually want you to have less money in your pockets, as this will lower inflationary pressure elsewhere in the economy. The idea is that a little pain shared equally will prevent wholesale collapse in one area that then cascades into a full scale recession.
Bear in mind that despite the credit crunch, fuel prices, house prices and the rest, the economy is still actually growing, slowly, but still growing overall, so it does not need stimulating.
Because they've overspent in other areas, and there are problems on many fronts:
Spending has generally been at a higher level than budgetted.
Then they made a c()ck-up out of the 10p tax issue, which cost them a fortune to wriggle out of to save their 'political face.'
The US$ being weak, has made the pound stronger, even though it shouldn't be, which has made our exports more expensive.
Ditto - USA tourists can't afford to come here and spend their $.
Inflation is rising sharply, which will affect many aspects of economy, but basically will result in less income for Chancellor and more costs, unemployment benefit for example.
We not technically in recession yet, but we are heading that way.
Plus we have two wars to pay for. They're not cheap, and it's 'wasted money.' It's like setting fire to money. It's not like investing it in schools, libraries or hospitals where you have some tangible benefit.
Tax reductions are extremely unlikely. They are probably going to be borrowing more money, to avoid raising taxes anymore, but they won't put them down.
sumo_uk1967 says the Government ONLY get an extra 4p in tax ... mate, that's per litre - might be worth firing up the calculator to work out what that really means!
Why don't they lower taxes? Simple, so many things have gone wrong e.g. they taxed tobacco so the smokers stopped (they didn't expect that!), they taxed alcohol so the drinkers cut down (they didn't expect that) and they planted more cash cow Gatso's and the motorist slowed down (they didn't expect that) so Mr Brown shot himself in the foot because all his plans worked and he got less income from all of them!!
The only remaining option was to rake a bit more off the fuel (and blame the credit crunch (last time round it was called recession).
So, in answer to the question He can't afford to!
Yes, there is a global credit 'crunch' but many countries are handling it better than our Muppet Government are. People should remember that Labour governments have a 'tax and spend policy' and always have had it's part of their dogma. People like Brown have never had any experience of running a big company and in any case he (Brown) believes he like the Pope is infallible !.
Because their skint and need to pay the wages of all these public sector non-jobs that they've created, plus financing the 8 million non productive people in our society. Remember the unemployment figure is realistically about 5 million, the other 3 million are on the sick.
This Government cut taxes? How would they then pay for MPs' expenses, and all the welfare benefits they have introduced as vote-catchers?
because the have to find the money to take care of the twelve thousand a day that are pouring over our borders from all over the world.
A good question!Gordon Brown has got the British Nation into so much debt and made that many promises to African dicatators!He just cannot move!'Another fine mess you have got us into'!Gordon!!
Because gordon has to pay for an 8 course meal somehow.
Because Gordon Brown wants to give more money to those people who don't want to work. He thinks they love him.
You are JOKING, Kill the goose that's laying platinum eggs. Not until hell freezes over.
they want more.get rid of the poll-tax.look how much money would be in our pockets to spend.
HAhahahahahahahahahahahahahahahahahahhah鈥?br>
common sense and politics bad mix!If HM Treasury is getting so much extra money from high oil prices, why don't they lower taxes?
Contrary to popular perception, the Government is not getting so much extra in tax, for two reasons, the first is that there is no extra fuel duty just the extra VAT on the pump price so an additional 30p per litre at the pump only 4p is extra tax to the revenue, and the second is that high prices mean people are starting to use less, so the total revenue may actually be going down.
The second aspect is that the Government actually want you to have less money in your pockets, as this will lower inflationary pressure elsewhere in the economy. The idea is that a little pain shared equally will prevent wholesale collapse in one area that then cascades into a full scale recession.
Bear in mind that despite the credit crunch, fuel prices, house prices and the rest, the economy is still actually growing, slowly, but still growing overall, so it does not need stimulating.
Because they've overspent in other areas, and there are problems on many fronts:
Spending has generally been at a higher level than budgetted.
Then they made a c()ck-up out of the 10p tax issue, which cost them a fortune to wriggle out of to save their 'political face.'
The US$ being weak, has made the pound stronger, even though it shouldn't be, which has made our exports more expensive.
Ditto - USA tourists can't afford to come here and spend their $.
Inflation is rising sharply, which will affect many aspects of economy, but basically will result in less income for Chancellor and more costs, unemployment benefit for example.
We not technically in recession yet, but we are heading that way.
Plus we have two wars to pay for. They're not cheap, and it's 'wasted money.' It's like setting fire to money. It's not like investing it in schools, libraries or hospitals where you have some tangible benefit.
Tax reductions are extremely unlikely. They are probably going to be borrowing more money, to avoid raising taxes anymore, but they won't put them down.
sumo_uk1967 says the Government ONLY get an extra 4p in tax ... mate, that's per litre - might be worth firing up the calculator to work out what that really means!
Why don't they lower taxes? Simple, so many things have gone wrong e.g. they taxed tobacco so the smokers stopped (they didn't expect that!), they taxed alcohol so the drinkers cut down (they didn't expect that) and they planted more cash cow Gatso's and the motorist slowed down (they didn't expect that) so Mr Brown shot himself in the foot because all his plans worked and he got less income from all of them!!
The only remaining option was to rake a bit more off the fuel (and blame the credit crunch (last time round it was called recession).
So, in answer to the question He can't afford to!
Yes, there is a global credit 'crunch' but many countries are handling it better than our Muppet Government are. People should remember that Labour governments have a 'tax and spend policy' and always have had it's part of their dogma. People like Brown have never had any experience of running a big company and in any case he (Brown) believes he like the Pope is infallible !.
Because their skint and need to pay the wages of all these public sector non-jobs that they've created, plus financing the 8 million non productive people in our society. Remember the unemployment figure is realistically about 5 million, the other 3 million are on the sick.
This Government cut taxes? How would they then pay for MPs' expenses, and all the welfare benefits they have introduced as vote-catchers?
because the have to find the money to take care of the twelve thousand a day that are pouring over our borders from all over the world.
A good question!Gordon Brown has got the British Nation into so much debt and made that many promises to African dicatators!He just cannot move!'Another fine mess you have got us into'!Gordon!!
Because gordon has to pay for an 8 course meal somehow.
Because Gordon Brown wants to give more money to those people who don't want to work. He thinks they love him.
You are JOKING, Kill the goose that's laying platinum eggs. Not until hell freezes over.
they want more.get rid of the poll-tax.look how much money would be in our pockets to spend.
95 lexus es300 - valve cover gasket oil leak what is a good price to get it fix?
It shouldn't cost much at all. The gasket itself is probably $15 tops, and the valve cover is right on top of the engine. It's very easy to do yourself and only takes minutes. If you have a shop do it, $50 at the most.95 lexus es300 - valve cover gasket oil leak what is a good price to get it fix?
it depends on the shops labor rate, the parts price, and what the flat rate manual says it will cost (in hours). but it wouldnt surprise me if it came in at just under 200 dollars.95 lexus es300 - valve cover gasket oil leak what is a good price to get it fix?
I've replaced a few myself and the gasket only cost $15-$20 and it only took a few minutes to put in. Normally you don't have to worry about these leaks, unless you are actually dripping a lot of oil on the ground. They are kind of like a head wound...really messy, but not much is lost.
it depends on the shops labor rate, the parts price, and what the flat rate manual says it will cost (in hours). but it wouldnt surprise me if it came in at just under 200 dollars.95 lexus es300 - valve cover gasket oil leak what is a good price to get it fix?
I've replaced a few myself and the gasket only cost $15-$20 and it only took a few minutes to put in. Normally you don't have to worry about these leaks, unless you are actually dripping a lot of oil on the ground. They are kind of like a head wound...really messy, but not much is lost.
As oil prices are based on the dollar which is falling how come petrol and oil prices are rising!!!! how come?
When the Dollar is high every thing we buy in Dollars costs more so as the Dollar is low to us living in the Uk how comes the oil price
oh i do know there is a war going onAs oil prices are based on the dollar which is falling how come petrol and oil prices are rising!!!! how come?
As the value of the dollar goes down, the number of dollars it takes to buy a barrel of oil goes up. It's relative.
For instance, if the value of the dollar is halved today, it'd take twice the number of dollars to buy the same barrel of oil as it did yesterday, assuming that the actual value of oil hasn't changed.
However, if the value of oil itself goes up whilst the value of the dollar goes down, the rate at which the price of oil in dollars seems to rise would seem disproportionate to the rate at which the dollar is falling.As oil prices are based on the dollar which is falling how come petrol and oil prices are rising!!!! how come?
it the art of decievement, fool the public that the war for oil in iraq was not about oil , only the ppl who control the flow are making trillions and sure ain't the iraqi's
Because not everything is determined by cost.
You are right to say that most oil is traded in US$, and since US$ has been falling with respect to the pound then in pounds the price of petrol should drop.
However, the price of crude oil is rising. The increase in the dollar price of oil is larger than the decrease in value of the dollar with respect to the pound. So, even in terms of pounds, the price of oil is rising.
Now, why are oil prices increasing. Personally I think it's because people are simply taking advantage of the situation to make a killing.
Think about it, the 'reason' given is the threat to the pipelibne via Turkey due to PKK activities. People are afraid the pipeline will be threatened, decreasing supply of oil hence pushing prices up. SO they buy now, and prices go up.
Another reason given is the fact that China and India are demanding more oil. That's true, but it's also true that they have been looking for and using non-traditional sources of oil; so this impact isn't as large as you would believe. Things in India would be much better if the pipeline from the Caucasus through Afghanistan was built, but given who controls Afghanistan nowadays... (Note that the Taleban did try to get the pipeline built during their time, only to be turned away by the contractors).
However, remember that today Iraq is free to sell oil. Gone are the days of restricted Iraqi supply under oil-for-food.
Furthermore, safety is quite high in the gulf for tankers now. So alternate routes to teh pipeline through Turkey exist.
I think supply is good, although demand is rising it hasn't risen fast enough to account for the spike in oil prices. I think it's simply traders making a big buck on the back of the fear of people, price manipulation.
oh i do know there is a war going onAs oil prices are based on the dollar which is falling how come petrol and oil prices are rising!!!! how come?
As the value of the dollar goes down, the number of dollars it takes to buy a barrel of oil goes up. It's relative.
For instance, if the value of the dollar is halved today, it'd take twice the number of dollars to buy the same barrel of oil as it did yesterday, assuming that the actual value of oil hasn't changed.
However, if the value of oil itself goes up whilst the value of the dollar goes down, the rate at which the price of oil in dollars seems to rise would seem disproportionate to the rate at which the dollar is falling.As oil prices are based on the dollar which is falling how come petrol and oil prices are rising!!!! how come?
it the art of decievement, fool the public that the war for oil in iraq was not about oil , only the ppl who control the flow are making trillions and sure ain't the iraqi's
Because not everything is determined by cost.
You are right to say that most oil is traded in US$, and since US$ has been falling with respect to the pound then in pounds the price of petrol should drop.
However, the price of crude oil is rising. The increase in the dollar price of oil is larger than the decrease in value of the dollar with respect to the pound. So, even in terms of pounds, the price of oil is rising.
Now, why are oil prices increasing. Personally I think it's because people are simply taking advantage of the situation to make a killing.
Think about it, the 'reason' given is the threat to the pipelibne via Turkey due to PKK activities. People are afraid the pipeline will be threatened, decreasing supply of oil hence pushing prices up. SO they buy now, and prices go up.
Another reason given is the fact that China and India are demanding more oil. That's true, but it's also true that they have been looking for and using non-traditional sources of oil; so this impact isn't as large as you would believe. Things in India would be much better if the pipeline from the Caucasus through Afghanistan was built, but given who controls Afghanistan nowadays... (Note that the Taleban did try to get the pipeline built during their time, only to be turned away by the contractors).
However, remember that today Iraq is free to sell oil. Gone are the days of restricted Iraqi supply under oil-for-food.
Furthermore, safety is quite high in the gulf for tankers now. So alternate routes to teh pipeline through Turkey exist.
I think supply is good, although demand is rising it hasn't risen fast enough to account for the spike in oil prices. I think it's simply traders making a big buck on the back of the fear of people, price manipulation.
If the dollar is weak due to oil prices (cost of manufacture/transport) wouldn't alt energy boost the economy?
Why should the fed invest in banks when we could compete more easily if renewable energy cost so much less than petroleum? As a side industry we could sell renewable energy technologies to India, China and the Middle East.If the dollar is weak due to oil prices (cost of manufacture/transport) wouldn't alt energy boost the economy?
Oil麓s price is not the reason for US dollar weakness,the reason is that USA needs to devaluate its currency to remain competitive, its also a way to devaluate the real value of US wages.Another reason is to bail out US banks ( at the verge of bankruptcy).The Fed is just going to write off bad debts from banks麓 books.
About a new energy that could replace Oil, I dont foresee any possibility in the near future.Anyway , as investors have many doubts about the future of world economy, I dont think they are going to invest massively on biofuels.What if Oil麓s price is just another bubble?
Oil麓s price is not the reason for US dollar weakness,the reason is that USA needs to devaluate its currency to remain competitive, its also a way to devaluate the real value of US wages.Another reason is to bail out US banks ( at the verge of bankruptcy).The Fed is just going to write off bad debts from banks麓 books.
About a new energy that could replace Oil, I dont foresee any possibility in the near future.Anyway , as investors have many doubts about the future of world economy, I dont think they are going to invest massively on biofuels.What if Oil麓s price is just another bubble?
If the US runs only on domestic oil, what will be the price per barrel?
%26gt;$200 per barrel, translated into %26gt;$8.00 per gallon at the pump. At least that's the nightmare scenario that has floated around several government think tanks...If the US runs only on domestic oil, what will be the price per barrel?
$20, but of course states that rely on oil would fall apart.If the US runs only on domestic oil, what will be the price per barrel?
Well, given our president owns it all, that means he can charge whatever he wants. If he keeps his family in office then we can certainly work on removing foreign oil from the equation, as well as not fostering alternative fuels too quickly, and then we can, because we will not be accepting any oil from the rest of the world, can claim the value is much greater.
Oil is priced on projected value, not actual value. This means that if things look like there will be difficulties in supplying in, say, 10 years, G W Bush can raise prices today. Let's say that the rest of the world holds roughly 66% of the oil. This means we would then be working with a third of the fuel we previously were. This means that 1) Fuel for US consumption is 300% as valuable, 2) We will run out 3 times faster, meaning it's in danger of running dry a lot faster, which will in turn 3) Make the POTENTIAL supply of gas much more difficult, and so today's prices will again skyrocket, TODAY, for tomorrow.
In short, if the US runs on ONLY domestic oil, the average citizen will not afford to drive to work AND feed his family.
The Bush administration is going to drain this country dry like Vlad (Dracula) would drain a random villager. They are parasites and they are the epitome of greed.
It is a bad idea through and through.
The US doesn't own enough or pump enough oil to be able to rely only on local supply!
I think the US is currently using about 3 million barrels per day and they produce only 1 million per day.
Dont quote me though as I m not sure about the exact amounts
its not really possible to predict... much of out oil if foreign already though i think....
only a few dollars!!!
Probably 200 plus, and at the pump it would be 7 or 8 per gallon.recipes cream
$20, but of course states that rely on oil would fall apart.If the US runs only on domestic oil, what will be the price per barrel?
Well, given our president owns it all, that means he can charge whatever he wants. If he keeps his family in office then we can certainly work on removing foreign oil from the equation, as well as not fostering alternative fuels too quickly, and then we can, because we will not be accepting any oil from the rest of the world, can claim the value is much greater.
Oil is priced on projected value, not actual value. This means that if things look like there will be difficulties in supplying in, say, 10 years, G W Bush can raise prices today. Let's say that the rest of the world holds roughly 66% of the oil. This means we would then be working with a third of the fuel we previously were. This means that 1) Fuel for US consumption is 300% as valuable, 2) We will run out 3 times faster, meaning it's in danger of running dry a lot faster, which will in turn 3) Make the POTENTIAL supply of gas much more difficult, and so today's prices will again skyrocket, TODAY, for tomorrow.
In short, if the US runs on ONLY domestic oil, the average citizen will not afford to drive to work AND feed his family.
The Bush administration is going to drain this country dry like Vlad (Dracula) would drain a random villager. They are parasites and they are the epitome of greed.
It is a bad idea through and through.
The US doesn't own enough or pump enough oil to be able to rely only on local supply!
I think the US is currently using about 3 million barrels per day and they produce only 1 million per day.
Dont quote me though as I m not sure about the exact amounts
its not really possible to predict... much of out oil if foreign already though i think....
only a few dollars!!!
Probably 200 plus, and at the pump it would be 7 or 8 per gallon.
Who controls crude oil prices?
and how are the prices set?Who controls crude oil prices?
It's a combination of OPEC and our free market. OPEC is a group of oil-rich countries that come together to set the price for their oil so no one country monopolizes the market over the other. Since the middle-east is in such turmoil, naturally the prices have risen so the gov. can pay for wars, etc. Our free market doesn't let the gov. control the prices, so the oil companies in our country also set prices (fairly similarly) so they can make profit too.Who controls crude oil prices?
The market place, which includes speculators.
OPEC sets production levels for its members, this greatly influences the prices, however oil is a free-traded commodity and it is at the mercentile market that the price is set by what-ever people are willing to bid (buy) it at.
It's a combination of OPEC and our free market. OPEC is a group of oil-rich countries that come together to set the price for their oil so no one country monopolizes the market over the other. Since the middle-east is in such turmoil, naturally the prices have risen so the gov. can pay for wars, etc. Our free market doesn't let the gov. control the prices, so the oil companies in our country also set prices (fairly similarly) so they can make profit too.Who controls crude oil prices?
The market place, which includes speculators.
OPEC sets production levels for its members, this greatly influences the prices, however oil is a free-traded commodity and it is at the mercentile market that the price is set by what-ever people are willing to bid (buy) it at.
Where would I find a list of the weekly crude oil prices, from January 2001 to now, on the internet?
ThanksWhere would I find a list of the weekly crude oil prices, from January 2001 to now, on the internet?
See if this site suits your needs.
http://www.wtrg.com/prices.htm
See if this site suits your needs.
http://www.wtrg.com/prices.htm
Can anybody tell me why our oil prices are going up rapidly these days?
In 2 weeks the oil prices in my country rose 2.8 cents...now thats shittyCan anybody tell me why our oil prices are going up rapidly these days?
Oh, don't you know? It's all that EXTRA OIL the GOOFY LIBERALS swear we've been trading BLOOD for...
It's the Law of Supply and Demand:
The MORE they SUPPLY - the MORE they DEMAND...Can anybody tell me why our oil prices are going up rapidly these days?
Because there is an increase of oil required for industry in America and China. Not to mention the artificial oil shortage from the oil producer like the Arab or America
the amount of oil in the world is declining too is the other type of fuels. thus it increases
b'coz at international level oil prodcing countries r creating artifical shortage of supply.
Because of the war most oil is imported
Oh, don't you know? It's all that EXTRA OIL the GOOFY LIBERALS swear we've been trading BLOOD for...
It's the Law of Supply and Demand:
The MORE they SUPPLY - the MORE they DEMAND...Can anybody tell me why our oil prices are going up rapidly these days?
Because there is an increase of oil required for industry in America and China. Not to mention the artificial oil shortage from the oil producer like the Arab or America
the amount of oil in the world is declining too is the other type of fuels. thus it increases
b'coz at international level oil prodcing countries r creating artifical shortage of supply.
Because of the war most oil is imported
Why are gas prices rising, even though oil prices are remaing constant?
corporate greed.Why are gas prices rising, even though oil prices are remaing constant?
Could be due to a lack of competition in the oil refinery business.
No new refineries were built in USA for quite a few years now. Which means that the existing refineries don't have much competition to deal with.Why are gas prices rising, even though oil prices are remaing constant?
Because, some things never change.
Could be due to a lack of competition in the oil refinery business.
No new refineries were built in USA for quite a few years now. Which means that the existing refineries don't have much competition to deal with.Why are gas prices rising, even though oil prices are remaing constant?
Because, some things never change.
The Price of Oil?
Excluding Speculators and the weak Dollar, the price of a barrel of oil is caused by?
Supply and Demand.
Supply being manipulated.
Supply being manipulated because of Peak Oil looming?The Price of Oil?
You are discounting the main problem. The value of the currency. The U.S. Dollar has lost HALF of it's trading value since Bush came into office. That's our BIGGEST reason for high cost of gas.
The second reason for current high prices is speculation, economists estimate 25-45% of the current cost because of this.
The third is supply. OPEC is an oil cartel, something we consider illegal in the U.S. They recently increased production/supply and the price still went up. So the supply has been increased, the demand has decreased and the price STILL has gone up. Sorry, the 1st two things I mentioned are major, major problems and this showcases how extreme they are.The Price of Oil?
The supply is not being manipulated.
The increase in oil prices is primarily due to the increase in demand.
The increase in demand is caused by the Clinton administrations deregulation of energy speculation.
Deregulation usually causes increasing competition and drives down the price along with an increase in supply which creates an increase in demand,
With oil the supply did not change, there is a finite supply of oil that has not changed.
Production has increased and consumer demand has increased at about the same rate as production. Because of the deregulation more speculators have joined the market and the demand has increased substantially.
The market is driven by supply and demand, but, the deregulated speculation creates an artifical demand.
http://klobuchar.senate.gov/newsreleases鈥?/a>
According to the senator in Missouri, the house has been studying different aspects of the oil industry for the last six months trying to determine why the price of oil is so high. The study showed that as of the end of May, according to supply and demand, the price should have been about $55 per barrel, but at the time it was $120 a barrel. They are also studying how speculation effects the price. Hopefully, they will come up with some answers soon.
I would agree with Julian that the devaluation of our currency has a lot to do with it.
umm...
I guess if speculators didn't exist and the dollar was doing ok...
it would be supply and demand.
That's awfully hypothetical considering the huge amount of money funding the oil bubble as well as the weak dollar denominations that oil is being sold at. The middle east is charging more because inflation lowers the value of the dollar... That's what any good business would do.
The collapsing dollar caused the first rise and speculation the latest rise
But the artificial restriction of supply by closing refineries and not drilling are a cause also
And market manipulation through collusion by OPEC and the Big Oil Companies is also a factor
There isn't just one cause. It's a combination of every reason you listed including Speculators and the weak Dollar. The hard fact is it's a very complicated issue, despite how much the media tries to simplify it.
Supply and Demand. As China, India, and other developing nations strive for a better way of life, (Which we already have) they need more and more oil to make that lifestyle possible.
supply and demand because it is harder and harder for oil drilling also the demand is climbing and keeps climbing.
The main problem is supply and demand.
The democrats are the problem while treating oil profiteers as a punching bag! Who holds oil? Americans in the 401k!
Dems are dummies!
Excluding the above, you would have a slightly inflated product.
Supply being manipulated.
Supply and demand.
the exponential growth of demand cannot be ignored
to ';lazy and tiered'; to did for more oil
A simple little five letter word G-R-E-E-D!!!!!
Supply and Demand.
Supply being manipulated.
Supply being manipulated because of Peak Oil looming?The Price of Oil?
You are discounting the main problem. The value of the currency. The U.S. Dollar has lost HALF of it's trading value since Bush came into office. That's our BIGGEST reason for high cost of gas.
The second reason for current high prices is speculation, economists estimate 25-45% of the current cost because of this.
The third is supply. OPEC is an oil cartel, something we consider illegal in the U.S. They recently increased production/supply and the price still went up. So the supply has been increased, the demand has decreased and the price STILL has gone up. Sorry, the 1st two things I mentioned are major, major problems and this showcases how extreme they are.The Price of Oil?
The supply is not being manipulated.
The increase in oil prices is primarily due to the increase in demand.
The increase in demand is caused by the Clinton administrations deregulation of energy speculation.
Deregulation usually causes increasing competition and drives down the price along with an increase in supply which creates an increase in demand,
With oil the supply did not change, there is a finite supply of oil that has not changed.
Production has increased and consumer demand has increased at about the same rate as production. Because of the deregulation more speculators have joined the market and the demand has increased substantially.
The market is driven by supply and demand, but, the deregulated speculation creates an artifical demand.
http://klobuchar.senate.gov/newsreleases鈥?/a>
According to the senator in Missouri, the house has been studying different aspects of the oil industry for the last six months trying to determine why the price of oil is so high. The study showed that as of the end of May, according to supply and demand, the price should have been about $55 per barrel, but at the time it was $120 a barrel. They are also studying how speculation effects the price. Hopefully, they will come up with some answers soon.
I would agree with Julian that the devaluation of our currency has a lot to do with it.
umm...
I guess if speculators didn't exist and the dollar was doing ok...
it would be supply and demand.
That's awfully hypothetical considering the huge amount of money funding the oil bubble as well as the weak dollar denominations that oil is being sold at. The middle east is charging more because inflation lowers the value of the dollar... That's what any good business would do.
The collapsing dollar caused the first rise and speculation the latest rise
But the artificial restriction of supply by closing refineries and not drilling are a cause also
And market manipulation through collusion by OPEC and the Big Oil Companies is also a factor
There isn't just one cause. It's a combination of every reason you listed including Speculators and the weak Dollar. The hard fact is it's a very complicated issue, despite how much the media tries to simplify it.
Supply and Demand. As China, India, and other developing nations strive for a better way of life, (Which we already have) they need more and more oil to make that lifestyle possible.
supply and demand because it is harder and harder for oil drilling also the demand is climbing and keeps climbing.
The main problem is supply and demand.
The democrats are the problem while treating oil profiteers as a punching bag! Who holds oil? Americans in the 401k!
Dems are dummies!
Excluding the above, you would have a slightly inflated product.
Supply being manipulated.
Supply and demand.
the exponential growth of demand cannot be ignored
to ';lazy and tiered'; to did for more oil
A simple little five letter word G-R-E-E-D!!!!!
The price of oil (please help)?
how much should mobile oil 5-30w cost?The price of oil (please help)?
$6.29 at Searsrecipes cream
$6.29 at Sears
What are your views on the oil prices?
I believe that the Oil Companies conspire together to push up the price and keep it up.
SHell says, Oh! we have problems with Storms in the Gulf
Chevron says Oh! We have civil unrest in Nigeria.
B.P Says Oh! we are worried about Iran
Total says Oh! Our Refineries are out for maintenance.
They all chose a different timescale, nothing ever eventuates from the scare given, but the price keeps going up.What are your views on the oil prices?
the situation is good for the oil countries
but as far as the money doesn't go in my pocket and the level of hunger in the world still highWhat are your views on the oil prices?
They're not good
it puts money in the pockets of lunatic dictatorships with seething populations who seem to like to blow themselves up for the shot at a harem of virgins
It's a big rip-off! The oil companies are making billions...at the expense of everyone.
well. i have seemed to notice that the oil prices have been going up.
SHell says, Oh! we have problems with Storms in the Gulf
Chevron says Oh! We have civil unrest in Nigeria.
B.P Says Oh! we are worried about Iran
Total says Oh! Our Refineries are out for maintenance.
They all chose a different timescale, nothing ever eventuates from the scare given, but the price keeps going up.What are your views on the oil prices?
the situation is good for the oil countries
but as far as the money doesn't go in my pocket and the level of hunger in the world still highWhat are your views on the oil prices?
They're not good
it puts money in the pockets of lunatic dictatorships with seething populations who seem to like to blow themselves up for the shot at a harem of virgins
It's a big rip-off! The oil companies are making billions...at the expense of everyone.
well. i have seemed to notice that the oil prices have been going up.
Are we gonna run out of oil (i hope so) otherwise (2nd ?) if not then y the price rise?
You hope we run out of oil? I think you know not what you say.
Yes we are running out. At current consumption rates and with current technology, we will have exhausted our supply in about 80-100 years.
Why is is more costly? Supply and demand. More people want it than ever before. More countries are developing higher energy needs. The oil companies see this and know that countries that really want it will pay for it. And they do.
The oil costs more so they have to recoup their losses by raising the prices at the pump, as well as just about everywhere else.Are we gonna run out of oil (i hope so) otherwise (2nd ?) if not then y the price rise?
I believe that we would theoretically run out of oil but that can only be predicted. Personally, I think there is plenty of oil on earth for longer than a hundred years. Although, if this is true we will probably totally screw up the world with our rapid consumption before we run out.
Prices are rising for a number of reasons. The economy is not at its best right now. Mass oil producers are having issues and are charging more. The value of the US dollar has dropped, thus we must pay a more quantity of dollars to make up the loss.Are we gonna run out of oil (i hope so) otherwise (2nd ?) if not then y the price rise?
We have more (known) oil reserves just waiting to be pumped out and refined than we as a nation could ever use. Add to that, oil yet to be discovered and it makes the argument of running out of oil simply ludicrous. Just recently in North Dakota the Bakkan formation was determined to hold 3 to 4.2 billion barrels of oil, and the oil industry is continuously searching and successfully finding more oil.
The price of oil is up due to speculators (Wall Street) gambling on higher prices in the future, and strife in other oil producing countries like Nigeria and Indonesia. Also, there are fewer refineries than we really need to keep up with demand. A new refinery in the USA hasn't been built in 30 years, largely due to environmentalist wackos protesting and leftist politicians determination to thwart our attempts to remain competitive in the economic world.
if we keep using oil the way we are yes we will run out of it within 100years the prices are rising so you use less so the industry can use more and also make it last longer.
Yes we are running out. At current consumption rates and with current technology, we will have exhausted our supply in about 80-100 years.
Why is is more costly? Supply and demand. More people want it than ever before. More countries are developing higher energy needs. The oil companies see this and know that countries that really want it will pay for it. And they do.
The oil costs more so they have to recoup their losses by raising the prices at the pump, as well as just about everywhere else.Are we gonna run out of oil (i hope so) otherwise (2nd ?) if not then y the price rise?
I believe that we would theoretically run out of oil but that can only be predicted. Personally, I think there is plenty of oil on earth for longer than a hundred years. Although, if this is true we will probably totally screw up the world with our rapid consumption before we run out.
Prices are rising for a number of reasons. The economy is not at its best right now. Mass oil producers are having issues and are charging more. The value of the US dollar has dropped, thus we must pay a more quantity of dollars to make up the loss.Are we gonna run out of oil (i hope so) otherwise (2nd ?) if not then y the price rise?
We have more (known) oil reserves just waiting to be pumped out and refined than we as a nation could ever use. Add to that, oil yet to be discovered and it makes the argument of running out of oil simply ludicrous. Just recently in North Dakota the Bakkan formation was determined to hold 3 to 4.2 billion barrels of oil, and the oil industry is continuously searching and successfully finding more oil.
The price of oil is up due to speculators (Wall Street) gambling on higher prices in the future, and strife in other oil producing countries like Nigeria and Indonesia. Also, there are fewer refineries than we really need to keep up with demand. A new refinery in the USA hasn't been built in 30 years, largely due to environmentalist wackos protesting and leftist politicians determination to thwart our attempts to remain competitive in the economic world.
if we keep using oil the way we are yes we will run out of it within 100years the prices are rising so you use less so the industry can use more and also make it last longer.
What would it mean to US if OPEC switched the pricing of oil from dollars into euros?
that we are indeed losing our country...a store in NY has announced that they are taking the EURO now,,,and here all along I thought we would be dealing with the Peso before long....hard to keep up...
Who of u believe that the government should demand lowwer prices on oil imports in us,due to the us?
Would n t it be fair if the us government could tell all these countries that it helps to send more oil at a cheaper rate.since the us helps all these countries and they owe the us a lot of money.So why not pay it back in oil.Who of u believe that the government should demand lowwer prices on oil imports in us,due to the us?
Another simplistic idea by another know nothing. We need to tell these so called enviromentalists to shove it and start drilling for oil right here in the USA and offshore. China has rigs right off of Cuba. Countries don't set the price of oil the market does.Who of u believe that the government should demand lowwer prices on oil imports in us,due to the us?
Paying their debt in oil would be fine, but they would much rather not pay their debt at all, sell the oil on the open market to the highest bidder, and call us names from the sidelines. It's an international game.
Personally, I think we should discontinue our aid to any country who aids and abets our enemies or those who profess to be our enemies, regardless of the plight of their people. The regular folks in those countries never get the aid anyway - it gets shanghaied by those in power and never makes it down to the really needy - the ones whose pictures we see on the news, so we're not doing them any good anyway.
Why should they. As they say what's in it for them.
Furthermore, the situation is quite a bit more perverted than that, its state on state terrorism, by the very definition.
Saudi Arabia and many of the other major producers don't really respond to much of anything we have to say about price since their new best friends China and India have come up. While both markets together are about the size of the US market, to say nothing of the EU or the Rest of the World, the US is one of a chorus of nations whom use more oil than they produce.
Even former producer nations in OPEC like Indonesia now use more than THEY produce.
Maybe 10 years ago we could pick up the phone grumble a little bit and the price would go down. That's a fond memory, but we're never be able to do that - probably again.
The reason is that every oil producer (at 120+ dollars a barrel) is producing as FAST and as hard as they can to get oil to market, the problem is, we're more or less out of the stuff, when it comes to the easy oil.
They'll keep trying and that's nice, but the Earth was / is apparently capable of producing and delivering about 85 million barrels per day, in available resources. Since the demand is something approaching 120million barrels per day, you can see where there is a small problem with supply and demand.
We could drill everywhere Alaska, New Jersey swamps, Wisconsin lakes, where-ever you think there might be oil , but that won't really add too much to the supply side.
Time to suck it up and get efficient, like the rest of the industrialized world did 40 years ago.
HAHAHA! funniest thing i have heard in a long time, well not that long, and if your serious then its not that funny.
Im not sure you know this but the rest of the world dont see the US as a friendly helper that we owe favours to.
Unfortunately, what your proposing isnt a million miles away from US foreign policy. Quote:
''Would n t it be fair if the us ****government could tell**** all these countries that it helps to send more oil at a cheaper rate';
???? What planet do you live on? No one in OPEC owes us any money... Oil will sell for what world markets will pay... we aren't the only country on this planet that uses oil....
The solution would be to drill for oil in ANWR, off shore in the Gulf, Atlantic, and Pacific... Oil shale out west, other lower 48 states that have oil reserves, *AND* coal to oil plants as well as new refineries....
Those are *REAL* solutions... While we are doing that we can also invest in alternative energy sources to use also....
I agree. But is a bad thing to make Iraq pay us back anything when they didn't ask us to invade their borders in the first place. I think it is the other way around. We owe Iraq a huge apology for all of the thousands of innocent men, women, and children we have blown up over there.
This is why I'm dead set against foreign aid. You can't buy your friends and you can't bribe your enemies. The US tries to ask for help and those countries will laugh it off. Hostile leaders like Hugo Chavez and Ahmydinnerjacket of Iran will be leading cheers against the US.
The high prices are a threat to our security. Police cars are running out of gas. Fire trucks too.
Our economy IS SUFFERING!
Any other President would have forced oil corps to hold the line on prices but Bush is a traitor to America and he will be arrested.
Come on 153 days!
Maybe its about time the Government controled the price that big Oil Companies charge. It should also put a lid on CEO wages and benifits.
Huh?
What countries with oil do we help?
Saudi Arabia, Canada, Venezuela?
Iraq maybe but they need all their oil to rebuild their country and stand on their own.
Oil only carzy people use oil!!Oil gives out green house gas that will create heating.There is already a hole above artica.THE PRESIDENT SUCKS AND SO DOES THE WHOLE WORLD.HUMANS SHOULD JUST NEED TO DISAPPEAR.
Another simplistic idea by another know nothing. We need to tell these so called enviromentalists to shove it and start drilling for oil right here in the USA and offshore. China has rigs right off of Cuba. Countries don't set the price of oil the market does.Who of u believe that the government should demand lowwer prices on oil imports in us,due to the us?
Paying their debt in oil would be fine, but they would much rather not pay their debt at all, sell the oil on the open market to the highest bidder, and call us names from the sidelines. It's an international game.
Personally, I think we should discontinue our aid to any country who aids and abets our enemies or those who profess to be our enemies, regardless of the plight of their people. The regular folks in those countries never get the aid anyway - it gets shanghaied by those in power and never makes it down to the really needy - the ones whose pictures we see on the news, so we're not doing them any good anyway.
Why should they. As they say what's in it for them.
Furthermore, the situation is quite a bit more perverted than that, its state on state terrorism, by the very definition.
Saudi Arabia and many of the other major producers don't really respond to much of anything we have to say about price since their new best friends China and India have come up. While both markets together are about the size of the US market, to say nothing of the EU or the Rest of the World, the US is one of a chorus of nations whom use more oil than they produce.
Even former producer nations in OPEC like Indonesia now use more than THEY produce.
Maybe 10 years ago we could pick up the phone grumble a little bit and the price would go down. That's a fond memory, but we're never be able to do that - probably again.
The reason is that every oil producer (at 120+ dollars a barrel) is producing as FAST and as hard as they can to get oil to market, the problem is, we're more or less out of the stuff, when it comes to the easy oil.
They'll keep trying and that's nice, but the Earth was / is apparently capable of producing and delivering about 85 million barrels per day, in available resources. Since the demand is something approaching 120million barrels per day, you can see where there is a small problem with supply and demand.
We could drill everywhere Alaska, New Jersey swamps, Wisconsin lakes, where-ever you think there might be oil , but that won't really add too much to the supply side.
Time to suck it up and get efficient, like the rest of the industrialized world did 40 years ago.
HAHAHA! funniest thing i have heard in a long time, well not that long, and if your serious then its not that funny.
Im not sure you know this but the rest of the world dont see the US as a friendly helper that we owe favours to.
Unfortunately, what your proposing isnt a million miles away from US foreign policy. Quote:
''Would n t it be fair if the us ****government could tell**** all these countries that it helps to send more oil at a cheaper rate';
???? What planet do you live on? No one in OPEC owes us any money... Oil will sell for what world markets will pay... we aren't the only country on this planet that uses oil....
The solution would be to drill for oil in ANWR, off shore in the Gulf, Atlantic, and Pacific... Oil shale out west, other lower 48 states that have oil reserves, *AND* coal to oil plants as well as new refineries....
Those are *REAL* solutions... While we are doing that we can also invest in alternative energy sources to use also....
I agree. But is a bad thing to make Iraq pay us back anything when they didn't ask us to invade their borders in the first place. I think it is the other way around. We owe Iraq a huge apology for all of the thousands of innocent men, women, and children we have blown up over there.
This is why I'm dead set against foreign aid. You can't buy your friends and you can't bribe your enemies. The US tries to ask for help and those countries will laugh it off. Hostile leaders like Hugo Chavez and Ahmydinnerjacket of Iran will be leading cheers against the US.
The high prices are a threat to our security. Police cars are running out of gas. Fire trucks too.
Our economy IS SUFFERING!
Any other President would have forced oil corps to hold the line on prices but Bush is a traitor to America and he will be arrested.
Come on 153 days!
Maybe its about time the Government controled the price that big Oil Companies charge. It should also put a lid on CEO wages and benifits.
Huh?
What countries with oil do we help?
Saudi Arabia, Canada, Venezuela?
Iraq maybe but they need all their oil to rebuild their country and stand on their own.
Oil only carzy people use oil!!Oil gives out green house gas that will create heating.There is already a hole above artica.THE PRESIDENT SUCKS AND SO DOES THE WHOLE WORLD.HUMANS SHOULD JUST NEED TO DISAPPEAR.
Lol..so, if McCAin credits Bush for recent temporary drop in price of oil, who does he blame for it going up?
from $30 a barrel to $150???
lol
this is getting quite surreal. Do they really think we don't have brains???
ROFL
http://news.yahoo.com/s/ap/20080723/ap_on_el_pr/mccainLol..so, if McCAin credits Bush for recent temporary drop in price of oil, who does he blame for it going up?
he probably blames everybody except the people that are too blame. before 9/11 gas was $.76 a gallon...under a freakin buck!! Now....its hard out here for a pimp. Bush needs to fall out of office...HARD!Lol..so, if McCAin credits Bush for recent temporary drop in price of oil, who does he blame for it going up?
Man, you liberals are dense! Anyways, there are infinite factors influencing the price of oil. But are you saying that oil just so happened to drop sharply for several days in a row, amidst weeks of rising prices? Are you saying it was coincidence that it happened immediately after Bush lifted the EO banning drilling, and encouraged Congress to do the same? Bush has done very little right, but are you so blinded by hatred that you cannot give credit where it is due?
I just thought of that to. Do we get to blame bush for the increase of oil by $80.00
Seriously, the price of oil is dropping because congress is tightening the speculation market with restrictions. Major mutual funds are dumping their shares and getting out of the market while the getting is good.
The answer to the last edit is yes if you are a daily reader of YA's. Second what caused the drop according to all the post for the last six months it was Bush's fault him and his oil; ';buddies'; so who should get credit when it comes down. This was a rhetorical question do not try to figure it out.
strange i just asked that question? and my question never was on the list of questions , i wonder do you think that yahoo is censoring me?
Some have asked the question here, but none better than you. The word is ';temprorary';. And YES the Dumbya Coup has enough people dumb enough to take the White House press office dump and Fox News seriously.
right-wingers will say anything so the Bush admin doesn't have to take responsibility for the low dollar value, that is the real problem with high oil prices.
Congress they it was about $50 or so a barrel before they even Democrats controlled congress
Pres.Bush has very little to do with oil prices.More of it has to do with all the crooks in senate like NANCY PELOSI...
Oh you didn't hear the news the other day - he blames Obama for the price of gas being high!
He doesn't acknowledge it at all.
lol
this is getting quite surreal. Do they really think we don't have brains???
ROFL
http://news.yahoo.com/s/ap/20080723/ap_on_el_pr/mccainLol..so, if McCAin credits Bush for recent temporary drop in price of oil, who does he blame for it going up?
he probably blames everybody except the people that are too blame. before 9/11 gas was $.76 a gallon...under a freakin buck!! Now....its hard out here for a pimp. Bush needs to fall out of office...HARD!Lol..so, if McCAin credits Bush for recent temporary drop in price of oil, who does he blame for it going up?
Man, you liberals are dense! Anyways, there are infinite factors influencing the price of oil. But are you saying that oil just so happened to drop sharply for several days in a row, amidst weeks of rising prices? Are you saying it was coincidence that it happened immediately after Bush lifted the EO banning drilling, and encouraged Congress to do the same? Bush has done very little right, but are you so blinded by hatred that you cannot give credit where it is due?
I just thought of that to. Do we get to blame bush for the increase of oil by $80.00
Seriously, the price of oil is dropping because congress is tightening the speculation market with restrictions. Major mutual funds are dumping their shares and getting out of the market while the getting is good.
The answer to the last edit is yes if you are a daily reader of YA's. Second what caused the drop according to all the post for the last six months it was Bush's fault him and his oil; ';buddies'; so who should get credit when it comes down. This was a rhetorical question do not try to figure it out.
strange i just asked that question? and my question never was on the list of questions , i wonder do you think that yahoo is censoring me?
Some have asked the question here, but none better than you. The word is ';temprorary';. And YES the Dumbya Coup has enough people dumb enough to take the White House press office dump and Fox News seriously.
right-wingers will say anything so the Bush admin doesn't have to take responsibility for the low dollar value, that is the real problem with high oil prices.
Congress they it was about $50 or so a barrel before they even Democrats controlled congress
Pres.Bush has very little to do with oil prices.More of it has to do with all the crooks in senate like NANCY PELOSI...
Oh you didn't hear the news the other day - he blames Obama for the price of gas being high!
He doesn't acknowledge it at all.
Why was the price of crude oil taken from the pricing index.?
cause and effectWhy was the price of crude oil taken from the pricing index.?
Which index?
I don't think crude oil is in the consumer price index, I don't many consumers buying crude oil. But gasoline is in the consumer price index. There is also a stat called core consumer price index which excludes gasoline and food prices, as they are very volitile, and it is sometimes useful to look at where prices are going w/o these two wildly changing groups included.recipes cream
Which index?
I don't think crude oil is in the consumer price index, I don't many consumers buying crude oil. But gasoline is in the consumer price index. There is also a stat called core consumer price index which excludes gasoline and food prices, as they are very volitile, and it is sometimes useful to look at where prices are going w/o these two wildly changing groups included.
Why does the media talk about the oil/gas prices so much?
When the media keep talking about the gas prices rising, then the oil companies will raise the gas prices knowing that the people are mentally ready for the increase. But if the media starts talking about the prices falling I gurantee the price of gasoline will come down. The rule of supply and demand does not play that much in this game. The media is the biggest cause of price increase. Why doesn't the media just shut up? Or at least start about price reduction for a change, PLEASE! Let's try and see the results.!Why does the media talk about the oil/gas prices so much?
If only your opinion were true.
If only your opinion were true.
As crude oil drops in price will it show at the pumps.?
It seems strange how fast the price of gas rises at the pumps when the price of oil goes up. Notice how long it takes for the gas price to drop accordingly.
Yes, it should or we're being gouged.
Well, we're being gouged anyway.As crude oil drops in price will it show at the pumps.?
There's no chance of that i'm afraid. Have you ever noticed that even when oil is not put up in the budget it still goes up the next day, anything to get money out of us.As crude oil drops in price will it show at the pumps.?
Wholesale gas prices have dropped and oil futures have drop . So in a few days prices @ the pump will drop . Oil is sitting @ 70 a barrel should relate to about $2.60 ish a gallon depending on the state you live in and the taxes they charge . You can go to gasbuddy.com and see prices already started dropping ...
there is always a 1-2 week lag between the price falls, but a 1-2 day lag for the price hikes......
If you ran a business and the manufacturers prices dipped would you adjust your price list to reflect this? If you did then you would not be a rich businessperson.
Never. But come the time it goes up, the petrol stations are soon out with the ladders changing the prices.
already has
do pigs fly
Prices in my neighborhood have dropped 21 cents in the last 3 days.
Prices have dropped here as well.
Yes, it should or we're being gouged.
Well, we're being gouged anyway.As crude oil drops in price will it show at the pumps.?
There's no chance of that i'm afraid. Have you ever noticed that even when oil is not put up in the budget it still goes up the next day, anything to get money out of us.As crude oil drops in price will it show at the pumps.?
Wholesale gas prices have dropped and oil futures have drop . So in a few days prices @ the pump will drop . Oil is sitting @ 70 a barrel should relate to about $2.60 ish a gallon depending on the state you live in and the taxes they charge . You can go to gasbuddy.com and see prices already started dropping ...
there is always a 1-2 week lag between the price falls, but a 1-2 day lag for the price hikes......
If you ran a business and the manufacturers prices dipped would you adjust your price list to reflect this? If you did then you would not be a rich businessperson.
Never. But come the time it goes up, the petrol stations are soon out with the ladders changing the prices.
already has
do pigs fly
Prices in my neighborhood have dropped 21 cents in the last 3 days.
Prices have dropped here as well.
Oil and gas question.. price?
1)what is your view on future of oil and gas prices?
2) Are you planning to cut on your travel expenses?Oil and gas question.. price?
Come to the UK my friend and you will be paying around US$10 a gallon for fuel. Around 65% of this goes to our thieving government in taxes!!! We would just love to get fuel at the prices you pay.
PS and on average you earn more than us.Oil and gas question.. price?
Don't expect oil to fall. You have insurance in case you die?
insurance for your car, home...? Then just buy some oil ETF's
For example, if oil goes to 200, and you invest just $2k. The difference you'll profit will offset the increase in gas and food. I started doing this at Bush's inaguration. I remembered when his dad was in office... I turned $4500 into almost $30k in seven years and I'm still long as long as he's president. But, I will be buying some short term puts to insure the short-term downside.
All you have to do is travel anywhere whether it be abroad or domestic to see the increase in demand for oil. As the world becomes smaller and emerging markets grow, so will the demand for oil. Moreover, we in America are just spoiled and wasteful and will suffer because of it. Just hop on any interstate east of the Mississippi and you'll see people doing 80-90mph. Yet, they complain when they pull up to the gas pump. Want to save gas and affect demand... Slow TF down, conserve, recycle, and don't waste.
boycott on June 17 and June 18 ; take a stand, let your voice and action be heard as an American ; don't wait for someone to do it for you and then do everything else that you can; don't drive at all one day a week, reduce consumption; we are in the driver seat , cut down and the oil companies starve; they are making billions profit at your expense; don't just pay and shut up ; do something, everything , anything , boycott
1) I'm going to buy gold/resource stocks with my some of my dad's capital (if he allows me) if fuel prices will make things work out and use the revenue to cover some of my living expenses.
2) No. At least not by too much.
I think that oil prices will get higher. Driving long distances for vacations are out of the question for me it will cost me more money to get their then the vacation stay. Yes i will continue to go on vacations just not in a car.
1. I'm NOT surprised; %26amp; the Prices are ONLY going to go higher- until WE start using aLOT less Gas. 2. No. I walk %26amp; Bike wherever I can... :)
1 they will keep on going up
2 I cut out travel all together.
2) Are you planning to cut on your travel expenses?Oil and gas question.. price?
Come to the UK my friend and you will be paying around US$10 a gallon for fuel. Around 65% of this goes to our thieving government in taxes!!! We would just love to get fuel at the prices you pay.
PS and on average you earn more than us.Oil and gas question.. price?
Don't expect oil to fall. You have insurance in case you die?
insurance for your car, home...? Then just buy some oil ETF's
For example, if oil goes to 200, and you invest just $2k. The difference you'll profit will offset the increase in gas and food. I started doing this at Bush's inaguration. I remembered when his dad was in office... I turned $4500 into almost $30k in seven years and I'm still long as long as he's president. But, I will be buying some short term puts to insure the short-term downside.
All you have to do is travel anywhere whether it be abroad or domestic to see the increase in demand for oil. As the world becomes smaller and emerging markets grow, so will the demand for oil. Moreover, we in America are just spoiled and wasteful and will suffer because of it. Just hop on any interstate east of the Mississippi and you'll see people doing 80-90mph. Yet, they complain when they pull up to the gas pump. Want to save gas and affect demand... Slow TF down, conserve, recycle, and don't waste.
boycott on June 17 and June 18 ; take a stand, let your voice and action be heard as an American ; don't wait for someone to do it for you and then do everything else that you can; don't drive at all one day a week, reduce consumption; we are in the driver seat , cut down and the oil companies starve; they are making billions profit at your expense; don't just pay and shut up ; do something, everything , anything , boycott
1) I'm going to buy gold/resource stocks with my some of my dad's capital (if he allows me) if fuel prices will make things work out and use the revenue to cover some of my living expenses.
2) No. At least not by too much.
I think that oil prices will get higher. Driving long distances for vacations are out of the question for me it will cost me more money to get their then the vacation stay. Yes i will continue to go on vacations just not in a car.
1. I'm NOT surprised; %26amp; the Prices are ONLY going to go higher- until WE start using aLOT less Gas. 2. No. I walk %26amp; Bike wherever I can... :)
1 they will keep on going up
2 I cut out travel all together.
Is there a formula that shows the relationship between oil futures prices and gasoline prices?
Gas prices at the pump are determined by the 5 oil companies. There is no mathematical correlation of barrel prices to pump prices. To prove that remember when barrel prices come down the pump prices remain static. The pump price of oil is determined by basically a monopoly.Is there a formula that shows the relationship between oil futures prices and gasoline prices?
Duhhhhhhhhhh...no...of course not.Is there a formula that shows the relationship between oil futures prices and gasoline prices?
This is never completely constant. It depends on too many variables. If there was a set formula, someone would have found it, wrote a book on it, and tons of ppl would be making fortunes in futures and options. So... no.
There are 42 gallons of oil in a barrel, and, while not all of the oil ends up becoming gasoline, simply dividing the moves in oil prices by 42 gets you pretty close.
There are futures in wholesale gasoline, which is considerably cheaper than retail gasoline, in part because of taxes and in part because of the costs of actually transporting the gasoline from the delivery point of the futures contracts (where it tends to be cheaper than average) to the gas station; there are traders who trade the spread between the two contracts, buying futures on oil and selling them on gasoline or vice versa in anticipation of refining bottlenecks. By and large, though, refining costs run around 5 to 10 cents per gallon of gas; most of the cost of gasoline is due to the cost of the oil, and the next biggest cost is taxes.
Duhhhhhhhhhh...no...of course not.Is there a formula that shows the relationship between oil futures prices and gasoline prices?
This is never completely constant. It depends on too many variables. If there was a set formula, someone would have found it, wrote a book on it, and tons of ppl would be making fortunes in futures and options. So... no.
There are 42 gallons of oil in a barrel, and, while not all of the oil ends up becoming gasoline, simply dividing the moves in oil prices by 42 gets you pretty close.
There are futures in wholesale gasoline, which is considerably cheaper than retail gasoline, in part because of taxes and in part because of the costs of actually transporting the gasoline from the delivery point of the futures contracts (where it tends to be cheaper than average) to the gas station; there are traders who trade the spread between the two contracts, buying futures on oil and selling them on gasoline or vice versa in anticipation of refining bottlenecks. By and large, though, refining costs run around 5 to 10 cents per gallon of gas; most of the cost of gasoline is due to the cost of the oil, and the next biggest cost is taxes.
If oil prices increased, what curve(s) is affected? Would this solve the problem of a recessionary gap?
if the price of gas increased then the price of everything would rise. how do yuo think products get to the store? by trucks. meaning that the prices for the product will rise to cover the price of the gas to get them to the store. every little thing is effected by the rise of gas prices. maybe the gas prices will get so high school will be canceled hahah one can only dreamIf oil prices increased, what curve(s) is affected? Would this solve the problem of a recessionary gap?
The poster above is sort of right that the price of everything would increase. Oil prices very strongly determine the costs of production for firms. Because of this, the answer to your question is that the supply curve would shift left (back; inward).
The increase in oil prices would worsen the effects of a recession, because firms are now willing to produce LESS output at any given price (since there are less profits per unit of output because production costs increased per unit of output because of the increased oil prices). Thus, output falls down further, and the recession is now worse.
Sean
The poster above is sort of right that the price of everything would increase. Oil prices very strongly determine the costs of production for firms. Because of this, the answer to your question is that the supply curve would shift left (back; inward).
The increase in oil prices would worsen the effects of a recession, because firms are now willing to produce LESS output at any given price (since there are less profits per unit of output because production costs increased per unit of output because of the increased oil prices). Thus, output falls down further, and the recession is now worse.
Sean
Do you blame President Bush for the high oil prices?
I do. Prices were around $1.35 when he took office and now we are about to go over $3.00.Do you blame President Bush for the high oil prices?
No, and you said oil, but then you give gas prices, it is two different things. Gas is so high, because the E P A has not allowed any refineries to start up since 1973, because of air polution. and several refineries have shut down, so we now have fewer refineries working at more than capacity to feed many times the cars that were running the roads back in 73. It is supply and demand.Do you blame President Bush for the high oil prices?
He could put a stop to these ridiculous prices, but why would he want to bite the hand that feeds?
I don't. It's all market forces.
I do too. And the cost we pay for health care has risen 70% just since Bush has been in office, and it was considered a crisis before that!
But on the other hand, the profits of oil and health insurance corporations have never been better!
Yes I DO! He, Dick Cheney and their oil industry buddies are OIL PROFIT HAWGS!!!
No. I blame the high price of oil on the fact you can no longer get it by poking a hole in the ground in Oklahoma but have to drill for it offshore.
Then you are yet another fine example of the lack of education which the left has become so famous for.
Oil prices, like every other commodity, are driven by supply %26amp; demand.
Supply has remained steady, while demand has boomed with the economic growth in Eastern Europe, China and India.
hey you look like me,,,,
uhh..
of course bush likes oil profits
that is his industry
He is a MAJOR part of the gas prices going up, but not entirely responsible. Some of it is due to the Katrina disaster. Some of the oil couldn't come in to the ports from South America at the time, so prices went up. Don't get me wrong. ';Dumbaya'; has totally screwed up this country, but 5% goes to weather problems on the oil...
No, I blame the liberal environmentalists who won't let us drill in a HUGE oil reserve in Alaska because of some friggin caribou! I don't give a crap about caribou! Put their behinds in a zoo, they'll be fine!
I'm no fan of Bush. I think he's one of the worst presidents, if not THE worst president, in our nation's history.
That said, I think the high gas prices are mostly not his fault. I say mostly, because his war is destabilizing the Middle East and that's part of why prices are high. Remember, Bush wants to drill for oil offshore and in wildlife refuges and everywhere else -- this would lower oil prices if it happened (but ask yourself if you're willing to destroy the environment to save 5 cents a gallon at the pump). But it has a lot more to do with industrialization in China. If 1 billion Chinese are all driving cars, supply and demand dictates that prices will go up. There's also the issue with refining capacity -- we haven't built any refineries in years, and that trend started long before Bush. I also blame Detroit for building and advertising too many giant SUVs and I blame the drivers who insist on driving these unnecessarily massive, gas guzzling vehicles.
Another reason gas keeps going up is that the dollar is losing value. Notice how gold, yen, euros, pounds, pesos, electricity, food, and everything else costs more dollars than it used to?
Also, notice the massive building/suburban sprawl that's been going on lately? A 150 mile round trip commute burns a lot of gas, in any car and especially in an SUV. Once again, supply and demand.
Not only the oil, but food, the housing, but we have to acknowledge that he has definitely lower a few things like:
The standard of life
The average income
The education
Culture
and life span rate.
A Texas oil man is President for 7+ years, and gas prices more than doubled.
Yep, I'd say he had a hand in it. Certainly looked the other way.
SO??
The fact that we use up so much oil driving around our big SUVs has something to do with it too.Presidents don't control everything all by themselves . We have a CONGRESS which doesn't seem to want to do anything right now and people keep forgetting that CONGRESS MAKES THE LAWS AND CONTROLS THE BUDGET NOT THE PRESIDENT.
It is easy to blame Bush since most people hate him anyway but that doesn't make it accurate. If you want to blame him then tell me WHAT HE DID that drove up the price of oil ALL AROUND THE ENTIRE PLANET since that is what you are claiming. The price you pay at the pump is largely taxes and it is also affected by the price of oil on the WORLD MARKET. It is not a U.S. thing.
Reality is that people in other countries have been paying 5$ and more for gas for SEVERAL YEARS NOW. Gas is still cheaper here than it is in most of the world and I wonder if you give Bush credit for that .
You should't. And you shouldn't blame him for gas prices either unless you can point to an action he's taken that raised it. The danger in misplacing the blame is that you never find the REAL problem and you end up wasting your energy(pardon the pun) being angry at someone or something that is not the cause of your problem
Yes Bush has a machine in his closet that controls oil prices.
He is capable of so many things, he can manipulate market forces, job markets and even catastrophic weather.
That is amazing considering the fact that he is an Ivy League educated idiot.
Yes. I also blame OPEC and all the greedy oil magnates who are profiting from the price gouge they are allowed to impose on us. I don't think President Bush really cares because a good chunk of his paycheck is tied up in oil revenue.
No, although I'm sure that his actions and policies have contributed at least a little to the rise. I blame him for NOT doing anything about it, however.
Wow, that is just plain ignorance. Think about it. 9/11 happened and our economy plummeted. Then markets shifted and the demand kept going up while the supply stayed the same. Then came the threat of a nuclear Iran and a hostile Venezuela. Wake up. How is any of that Bush's fault?
No. I put the blame where it belongs, with Environmentalists.
3 $ for Olive Oil?!?!? That's OUTRAGEOUS!
I am shocked and appalled. You know, my sister illegally brought olive oil back from Italy. You're not supposed to bring food, as I've told you many times. Is this why we're not aloud to bring them over? George wants to charge extra for it?
You know, back when George and I were childhood sweethearts, he was NOTHING like this. He always shared his cupcake with me. Though now I think about it, he did always have a thing for Olive Oil... I remember him putting some all over the floor in our classroom and poor Neville Longbottom slipped on it.
HEY I ALSO LOOK LIKE YOU!!!recipes cream
No, and you said oil, but then you give gas prices, it is two different things. Gas is so high, because the E P A has not allowed any refineries to start up since 1973, because of air polution. and several refineries have shut down, so we now have fewer refineries working at more than capacity to feed many times the cars that were running the roads back in 73. It is supply and demand.Do you blame President Bush for the high oil prices?
He could put a stop to these ridiculous prices, but why would he want to bite the hand that feeds?
I don't. It's all market forces.
I do too. And the cost we pay for health care has risen 70% just since Bush has been in office, and it was considered a crisis before that!
But on the other hand, the profits of oil and health insurance corporations have never been better!
Yes I DO! He, Dick Cheney and their oil industry buddies are OIL PROFIT HAWGS!!!
No. I blame the high price of oil on the fact you can no longer get it by poking a hole in the ground in Oklahoma but have to drill for it offshore.
Then you are yet another fine example of the lack of education which the left has become so famous for.
Oil prices, like every other commodity, are driven by supply %26amp; demand.
Supply has remained steady, while demand has boomed with the economic growth in Eastern Europe, China and India.
hey you look like me,,,,
uhh..
of course bush likes oil profits
that is his industry
He is a MAJOR part of the gas prices going up, but not entirely responsible. Some of it is due to the Katrina disaster. Some of the oil couldn't come in to the ports from South America at the time, so prices went up. Don't get me wrong. ';Dumbaya'; has totally screwed up this country, but 5% goes to weather problems on the oil...
No, I blame the liberal environmentalists who won't let us drill in a HUGE oil reserve in Alaska because of some friggin caribou! I don't give a crap about caribou! Put their behinds in a zoo, they'll be fine!
I'm no fan of Bush. I think he's one of the worst presidents, if not THE worst president, in our nation's history.
That said, I think the high gas prices are mostly not his fault. I say mostly, because his war is destabilizing the Middle East and that's part of why prices are high. Remember, Bush wants to drill for oil offshore and in wildlife refuges and everywhere else -- this would lower oil prices if it happened (but ask yourself if you're willing to destroy the environment to save 5 cents a gallon at the pump). But it has a lot more to do with industrialization in China. If 1 billion Chinese are all driving cars, supply and demand dictates that prices will go up. There's also the issue with refining capacity -- we haven't built any refineries in years, and that trend started long before Bush. I also blame Detroit for building and advertising too many giant SUVs and I blame the drivers who insist on driving these unnecessarily massive, gas guzzling vehicles.
Another reason gas keeps going up is that the dollar is losing value. Notice how gold, yen, euros, pounds, pesos, electricity, food, and everything else costs more dollars than it used to?
Also, notice the massive building/suburban sprawl that's been going on lately? A 150 mile round trip commute burns a lot of gas, in any car and especially in an SUV. Once again, supply and demand.
Not only the oil, but food, the housing, but we have to acknowledge that he has definitely lower a few things like:
The standard of life
The average income
The education
Culture
and life span rate.
A Texas oil man is President for 7+ years, and gas prices more than doubled.
Yep, I'd say he had a hand in it. Certainly looked the other way.
SO??
The fact that we use up so much oil driving around our big SUVs has something to do with it too.Presidents don't control everything all by themselves . We have a CONGRESS which doesn't seem to want to do anything right now and people keep forgetting that CONGRESS MAKES THE LAWS AND CONTROLS THE BUDGET NOT THE PRESIDENT.
It is easy to blame Bush since most people hate him anyway but that doesn't make it accurate. If you want to blame him then tell me WHAT HE DID that drove up the price of oil ALL AROUND THE ENTIRE PLANET since that is what you are claiming. The price you pay at the pump is largely taxes and it is also affected by the price of oil on the WORLD MARKET. It is not a U.S. thing.
Reality is that people in other countries have been paying 5$ and more for gas for SEVERAL YEARS NOW. Gas is still cheaper here than it is in most of the world and I wonder if you give Bush credit for that .
You should't. And you shouldn't blame him for gas prices either unless you can point to an action he's taken that raised it. The danger in misplacing the blame is that you never find the REAL problem and you end up wasting your energy(pardon the pun) being angry at someone or something that is not the cause of your problem
Yes Bush has a machine in his closet that controls oil prices.
He is capable of so many things, he can manipulate market forces, job markets and even catastrophic weather.
That is amazing considering the fact that he is an Ivy League educated idiot.
Yes. I also blame OPEC and all the greedy oil magnates who are profiting from the price gouge they are allowed to impose on us. I don't think President Bush really cares because a good chunk of his paycheck is tied up in oil revenue.
No, although I'm sure that his actions and policies have contributed at least a little to the rise. I blame him for NOT doing anything about it, however.
Wow, that is just plain ignorance. Think about it. 9/11 happened and our economy plummeted. Then markets shifted and the demand kept going up while the supply stayed the same. Then came the threat of a nuclear Iran and a hostile Venezuela. Wake up. How is any of that Bush's fault?
No. I put the blame where it belongs, with Environmentalists.
3 $ for Olive Oil?!?!? That's OUTRAGEOUS!
I am shocked and appalled. You know, my sister illegally brought olive oil back from Italy. You're not supposed to bring food, as I've told you many times. Is this why we're not aloud to bring them over? George wants to charge extra for it?
You know, back when George and I were childhood sweethearts, he was NOTHING like this. He always shared his cupcake with me. Though now I think about it, he did always have a thing for Olive Oil... I remember him putting some all over the floor in our classroom and poor Neville Longbottom slipped on it.
HEY I ALSO LOOK LIKE YOU!!!
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