And the beauty of it is, ...it gets leveled at the consumer, as if the Lay Offs and The Bailouts weren't bad enough, we need to supplement the Oil Barons life style.. How are those Islands in Dubai Selling ?..
They can't meet the demand for them...
WTF?Opec wants to bring the price of oil back up ? .. where are those Pesky speculators when you need them ?
Isn't this an act of warOpec wants to bring the price of oil back up ? .. where are those Pesky speculators when you need them ?
Speculators are not always in the market. Just as Stock investors are not always in the market.
Keep in mind that these so called Speculators are is a lot of cases, in the oil business. They are working with what they know oil!
What has not been reported is the fact that many of the oil ';speculators'; are from the middle east. They will sell future production for a future delivery date at a higher price than the cash price today. That is the way futures operate. Producers and Consumers get together for future delivery. Are there pure speculators, yes. They are the ones who get burned when prices drop/rise quickly.
As for the law of supply and demand not being applicable here--if it is not the case--why are Auto Dealership lots full of autos and home builders awash with unsold homes--its due to the law of supply and demand.
Fortunately even the reduction in production proposed by OPEC is not enough to eliminate the surplus of oil that is currently on the market.
Now is the time to destroy the Iranian oil fields.
The supply of Iranian oil would not be missed.
Iran gets the money to buy nuclear weapons technology and the money that Iran uses to fund Muslim Terrorism from the export of oil.
If we destroy the Iranian oil fields now we reduce the threat of Iranian nuclear weapons and we will shut off much of the funding for Muslim Terrorism.
We can do this without endangering civilians if we destroy the Iranian oil fields now.
OPEC wants to protect the investments required to guarantee adequate energy supplies in the medium to long term.. giving a ';floor'; to the tumbling oil prices.. and yes the laws do apply.. demand has dropped, product reserves have increased, price dropped... now they are cutting production (though crude volumes entering the market will remain well in excess of actual demand) to level the playing field a little.. i don't agree with it personally.. but that's what has happened. and don't make a mistake by putting layoffs and bailouts in the same category as the OPEC members having their lifestyles supplemented as you say.. the ';evil'; oil execs that you are referring to have no bearing on the price of oil.. their prices are directly affected by what OPEC and non-OPEC members do with production. THIS IS WHY WE NEED MORE DOMESTIC DRILLING.. so that we do not have to buy our oil from the likes of OPEC, Russia, and even Mexico.
Supply and demand affects the price of oil far more when the price is lower and less specultors are involved in the futures market.
But opec really isn't trying to raise the price of oil, they are trying to hault its decent. If oil stops becoming profitable to produce, we are are all in big trouble.
they're hurting themselves. people are still skiddish from $4 gas. there's significant demand destruction already and the more they cut the less people are going to drive. the speculators see this and they see opec grabbing for straws out of desperation(cuts, russian battle ships) no worries cheap oil is going to be around for awhile
what i don't understand is they manipulate the price of oil,which is in conflict with our laws,why have we not done something to hurt opec,and get oil from sources that aren't as corrupt
Well there's more demand for oil world wide, either we start drilling in Alaska and become more energy independent, or we get used to these oil fluctuations
I'm glad to see someone else recognizes OPEC as the problem.
I cannot make heads nor tails of your rant. If you have a point, it is lost.
I work for an oil and gas company. While it may appear we have had record profits, the reality is when you take into consideration the high cost of supplies and labor (trickle down hasn't gotten there yet), we still have to maintain higher costs to balance out.
The steel we are getting now for pipes and whatnot, are still coming to us at the higher prices. We have to charge more to break even.
I know this sucks. We all do. We realize this. But, in order to maintain our ability to keep the market strong, we have to raise prices a bit.
We have already implemented cost cutting measures to ensure the least amount of cost we have to push off to the consumer. That includes no Christmas parties, no bonus' (which sucks - that means no Christmas for many of us), and other measures.
We grunt workers are consumers, too. We don't get breaks on gas. We have to pay the higher prices as well.
It's a give and take. Adn there are 2 sides to every situation.
IF you really want someone to be pissed at - be pissed at our government. They rather send trillions to corrupt banks instead of bailing out the American public.
No comments:
Post a Comment