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Old 02-05-2013, 02:54 PM
 
Location: Long Island, NY
19,717 posts, read 11,578,112 times
Reputation: 5613

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Quote:
Originally Posted by Mr.XXX View Post
Supply versus Demand has no affect on cost....Interesting I guess everything I learnt about economics 101 is obsolete..
In the case of a global product, the supply from domestic oil, as is evident, has no effect on the current gas prices.

I dispute that you have ever learned.

 
Old 02-05-2013, 02:56 PM
 
Location: Portland, Oregon
46,053 posts, read 29,560,873 times
Reputation: 7830
I didn't know the president was the one who set the gas prices.
 
Old 02-05-2013, 02:59 PM
 
1,167 posts, read 948,196 times
Reputation: 345
Quote:
In the case of a global product, the supply from domestic oil, as is evident, has no effect on the current gas prices.
Oh so I guess we need no longer worry about domestic energy development...Interesting...

Quote:
I dispute that you have ever learned.
Coming from an Obama supporter...well I'll keep that one to myself...
 
Old 02-05-2013, 03:02 PM
 
79,556 posts, read 33,708,686 times
Reputation: 15960
Quote:
Originally Posted by Smoke_Jaguar4 View Post
Two reasons why gas keeps rising:
1. Supply
2. Demand

The U.S. is now a net exporter of energy, yet demand keeps spiking overseas. You want to see gas prices drop? Start encouraging China, India, Russia to reduce their demand.

As far as "pumping trillions", the bailouts are over. The only money the Fed is injecting into the money supply is by buying back securities. In the long term this saves taxpayers money by decreasing the amount spent on interest. If what you said where true, we would see inflation across the board. Total inflation for 2012 was 1.7%, and the forecast is less than 2% for the next few years:

Consumer Prices in U.S. Little Changed as Inflation Recedes - Bloomberg
There are no shortages. Supplies have been at record levels and the price continued to go up. All that money has to go somewhere.
 
Old 02-05-2013, 03:04 PM
 
79,556 posts, read 33,708,686 times
Reputation: 15960
Quote:
Originally Posted by KS_Referee View Post
Current massive deficit spending (both dem & repub) combined with massive monetizing debt & printing money have caused the devaluation of the dollar compared to actual commodities. Energy and food are intentionally left out of the equation when calculating for inflation (even though those two sectors of the economy ought to drive the formula), so all the talking heads are still saying there is no inflation, even though that is not that is not the case.
Gas was at $1.85 just before all the money from the government was released. It is now nearing $4.00 again. But there is no inflation.
 
Old 02-05-2013, 03:06 PM
 
79,556 posts, read 33,708,686 times
Reputation: 15960
NEW YORK—The nation's crude oil supplies rose last week, the government said Wednesday.
Crude inventories increased by 1.3 million barrels, or 0.4 percent, to 359.9 million barrels, which is 8 percent above year-ago levels, the Energy Department's Energy Information Administration said in its weekly report.


But yet, prices are still going up.

US crude oil supplies grow by million barrels - The York Daily Record
 
Old 02-05-2013, 03:06 PM
 
Location: Portland, Oregon
46,053 posts, read 29,560,873 times
Reputation: 7830
Quote:
Originally Posted by Mr.XXX View Post
Oh so I guess we need no longer worry about domestic energy development...Interesting...



Coming from an Obama supporter...well I'll keep that one to myself...
Welcome to a global market. The global market will always have an effect on the cost of gas at the pump, not the president.

Unless you are trying to say we should move to a national energy system where the government is in control of the oil and energy supply so that they can have the direct effect on the gas prices.
 
Old 02-05-2013, 03:32 PM
 
Location: Ohio
19,959 posts, read 14,260,675 times
Reputation: 16133
Quote:
Originally Posted by boxus View Post
Refineries have been closing, we have also been exporting gasoline.
High Sulfur gasoline.....which cannot be legally sold in the US.

Refining...


Mircea

Quote:
Originally Posted by Mr.XXX View Post
Oh so I guess we need no longer worry about domestic energy development...Interesting...
All fuels are energy, but not all energy is fuels.

Why don't you study petro-chemistry and get back to us.

Domestically...


Mircea
 
Old 02-05-2013, 03:47 PM
 
Location: Barrington
45,950 posts, read 34,111,086 times
Reputation: 15353
Quote:
Originally Posted by Mr.XXX View Post
Thats what you get when your dear Marxist leader backs the Eco freaks agenda...This is only the beginning "You Ain't Seen Nothing Yet!!!....Hello $10 a gallon coming soon to station near you....Don't touch that dial..Stay tuned for the continuing saga of Our Dear Marxist Leader and The Left Destroying America!!!
We are paying about the same as we did in 1918 and 1981 , adjusted for inflation.


Inflation adjusted Gasoline Price Chart
 
Old 02-05-2013, 03:53 PM
 
Location: Barrington
45,950 posts, read 34,111,086 times
Reputation: 15353
Quote:
Originally Posted by urbanlife78 View Post
Welcome to a global market. The global market will always have an effect on the cost of gas at the pump, not the president.

Unless you are trying to say we should move to a national energy system where the government is in control of the oil and energy supply so that they can have the direct effect on the gas prices.
Speculation in oil futures /indexes has a huge impact on the price we pay at the pump.
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