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Even aside from the "high point", gas prices are essentially flat over the last 3 years - the first time we have not seen a major increase over such a period of time in a longggggg time.
Your "Less Demand + More Supply" equation ignores the fact that gas is a GLOBAL commodity and while US demand is down, world demand is not. Essentially the increase in US production and decrease in US consumption has offset the increase in global demand pricewise, resulting in flat prices here in the US.
Ken
Platts Report: China Oil Demand Contracted 2.1% in November versus a Year Ago
I suppose we could check Haiti. It might be up there.
Did you even read your own link?
Yes, China oil demand fell in November from the previous year - for ONLY THE 2ND TIME IN THE LAST YEAR - meaning that for 10 of the last 12 months demand rose Y/Y.
Yes, some MONTHS demand will be down - that's the way things work, demand doesn't rise every single month. But again (from your own link):
"...For the first 11 months of 2013 China’s apparent oil demand averaged 9.81 million b/d, a 3% increase from a year ago and greater than the 2.2% expansion in apparent oil demand for the same period in 2012 versus 2011..."
What part of 2013 having 3% increase in demand over 2012 and 2012 having a 2.2% increase in demand over 2011 do you you not understand?
World oil consumption rose from 84,565.3 thousand barrels/day in 2008
to 84,812.7 thousand barrels/day in 2009
to 87,446.2 thousand barrels/day in 2010
to 88,593.2 thousand barrels/day in 2011
to 89,200.6 thousand barrels/day in 2012
World demand is rising but US prices have remained stable because local consumption has fallen (from 19,498.0 thousand barrels/day in 2008 to 18,490.2 thousand barrels/day in 2012) and local production has risen.
We have also discovered large oil deposits in the last few years. There is no shortages. The prices are on the rise again and the rising prices are a huge drag on the economy.
We have also discovered large oil deposits in the last few years. There is no shortages. The prices are on the rise again and the rising prices are a huge drag on the economy.
Oil prices are NOT "on the rise again" - at least not at any significant level and certainly NOT in any long-term trend. As I said, oil prices are essentially flat (ie rangebound) - as they have been for the last few years. They are up from a couple of weeks ago - but not significantly - and lower than they were 2 months ago (it's just part of the natural bouncing around that happens) - and are also lower than they were a year ago at this time.
GAS prices have risen a bit this month - as they do EVERY year around this time - but again, within a "rangebound" number (and - like with oil - gas prices are actually LOWER than they were this time last year, which in turn was lower than it was at this time 2 years ago). Other than normal seasonal changes there is NO general upward pressure on gas prices - and in fact, the general pressure is (if anything) DOWNWARD (aside from the normal seasonal changes) - and HAS been that way for the last couple of years (increased US production & decreased US consumption).
Oil and gas prices bounce around depending on the time of year and other misc factors - and it happens EVERY YEAR (nothing new about any of it) and over the last few years, those upward bounces have been pretty modest by historical terms and always have come back down when the "driving season" ends.
Ken
Last edited by LordBalfor; 02-20-2014 at 08:39 AM..
For years now, the wingnuts have been telling us how it was just the administrations' QE propping up the stock market - that the recovery of the stock market was just an illusion, that US companies were not doing well enough to justify the higher stock prices, and that once QE ended stocks would crash back to where they were 5 years ago because "the economy was not recovering".
Well, the Fed announced today that they were starting scale back QE in January - and, the stock market shot up - ending the day in record territory with the DOW up nearly 300 points, the S&P up nearly 30 points and the NASDAQ up nearly 50 points.
Oppps!
Gold, on the other hand got clobbered - as I said it would.
Hmmmm.... could it be that all the nonsense about the stock market simply being propped up by QE was just that - nonsense?
Yup.
Ken
...Yup ... another idiotic narrative which not only fails to understand what is really happening, which also may explain why you don't realize grave harm being inflicted .... as you cheer the gaping hole in this modern version of the Titanic. Let the band play, and order anther bottle of champagne!
It's amazing what a gift of two or three Trillion free dollars will do for the gangster's bottom line, as they parlay that into 20 Trillion of phony make believe paper assets, while purchasing real assets with the proceeds of their ponzi scamming the country into the now inescapable black hole of financial castastrophe.
They use this scheme to drive you and everyone not connected to this inner circle of free money into liquidation mode, as the real economy contracts and convulses, driving downward the value of those real assets that we have remaining, that they want to steal, so they can scoop them up with that free money, leaving you with the bill.
As you applaud being driven into abject financial and literal starvation ... later ... when the horses have all been stolen, and it's much too late to secure the pasture gate, it's doubtful that even then, that you'll realize what has been done to you .... because in case you have some nice stock portfolio that you think is booming ... what you don't realize is, they know precisely when THEY ARE GOING TO PULL THE PLUG ... leaving you with a lot of worthless paper, as their vaults bulge with all of that real stuff they've been suppressing with their phony schemes.
Yay! Such brilliance is probably why your father called you Son.
Last edited by GuyNTexas; 02-20-2014 at 09:33 AM..
...Yup ... another idiotic narrative which not only fails to understand what is really happening, which also may explain why you don't realize grave harm being inflicted .... as you cheer the gaping hole in this modern version of the Titanic. Let the band play, and order anther bottle of champagne!
It's amazing what a gift of two or three Trillion free dollars will do for the gangster's bottom line, as they parlay that into 20 Trillion of phony make believe paper assets, while purchasing real assets with the proceeds of their ponzi scamming the country into the now inescapable black hole of financial castastrophe.
They use this scheme to drive you and everyone not connected to this inner circle of free money into liquidation mode, as the real economy contracts and convulses, driving downward the value of those real assets that we have remaining, that they want to steal, so they can scoop them up with that free money, leaving you with the bill.
As you applaud being driven into abject financial and literal starvation ... later ... when the horses have all been stolen, and it's much too late to secure the pasture gate, it's doubtful that even then, that you'll realize what has been done to you .... because in case you have some nice stock portfolio that you think is booming ... what you don't realize is, they know precisely when THEY ARE GOING TO PULL THE PLUG ... leaving you with a lot of worthless paper, as their vaults bulge with all of that real stuff they've been suppressing with their phony schemes.
Yay! Such brilliance is probably why your father called you Son.
Your post is just more utter nonsense from the tin foil hat crowd.
Ken
Last edited by LordBalfor; 02-20-2014 at 11:12 AM..
...Yup ... another idiotic narrative which not only fails to understand what is really happening, which also may explain why you don't realize grave harm being inflicted .... as you cheer the gaping hole in this modern version of the Titanic. Let the band play, and order anther bottle of champagne!
It's amazing what a gift of two or three Trillion free dollars will do for the gangster's bottom line, as they parlay that into 20 Trillion of phony make believe paper assets, while purchasing real assets with the proceeds of their ponzi scamming the country into the now inescapable black hole of financial castastrophe.
They use this scheme to drive you and everyone not connected to this inner circle of free money into liquidation mode, as the real economy contracts and convulses, driving downward the value of those real assets that we have remaining, that they want to steal, so they can scoop them up with that free money, leaving you with the bill.
As you applaud being driven into abject financial and literal starvation ... later ... when the horses have all been stolen, and it's much too late to secure the pasture gate, it's doubtful that even then, that you'll realize what has been done to you .... because in case you have some nice stock portfolio that you think is booming ... what you don't realize is, they know precisely when THEY ARE GOING TO PULL THE PLUG ... leaving you with a lot of worthless paper, as their vaults bulge with all of that real stuff they've been suppressing with their phony schemes.
Yay! Such brilliance is probably why your father called you Son.
It's clear you have no idea what you're talking about, most of that has nothing to do with equities or QE.
Your post is just more utter nonsense from the tin foil hat crowd.
Ken
You didn't see the biggest economic collapse since the Great Depression and people should put stock in what you post?
Speaking of nonsense here is your post in this very same thread where pghquest exposed you.
Quote:
Originally Posted by LordBalfor 'The stock market selloff last week was fueled in part by worries that big companies are going to have a hard time keeping their profits growing as the Federal Reserve starts shutting down its massive money pumps.
pghquest - Haha, so to prove QE wasnt propping up the market, you tell us that the market sell off was because QE might end.
its almost too easy.. Just allow you to babble on long enough, you're prove your own threads are garbage.
Your posts on economics are laughable. It's like someone from the Cubs organization giving pointers on how to win the World Series.
You didn't see the biggest economic collapse since the Great Depression and people should put stock in what you post?
Speaking of nonsense here is your post in this very same thread where pghquest exposed you.
Quote:
Originally Posted by LordBalfor 'The stock market selloff last week was fueled in part by worries that big companies are going to have a hard time keeping their profits growing as the Federal Reserve starts shutting down its massive money pumps.
pghquest - Haha, so to prove QE wasnt propping up the market, you tell us that the market sell off was because QE might end.
its almost too easy.. Just allow you to babble on long enough, you're prove your own threads are garbage.
Your posts on economics are laughable. It's like someone from the Cubs organization giving pointers on how to win the World Series.
LOL
I missed something 6 years ago - wow.
When have you got anything RIGHT in the last 6 years? - not a thing as near as I can tell.
Get back to me when you actually manage to do so - THEN maybe you can "lecture" me.
First of all, I never said the market wasn't affected by what people THINK QE might do. The market bounces around ALL THE TIME by what people THINK will happen - but those changes are very short-lived and really do nothing with any long-term (or even mid-term) significance to the market. What I was addressing was the stoooooopid idea that the markets' incredible rise over the last 5 years or so was simply due to the Fed "pumping up the market" with QE (if you could actually COMPREHEND what you READ you WOULD have been able figure that out by the TITLE of this THREAD ).
Secondly, the "WHY" of what the market does is simply an OPINION of "why" the market did what it did - that's true of the brief drop after the beginning of taper - as well as any other event which "drives" the market. NO ONE knows for sure WHY the market does what it does on any given day and there are LOTS of things that happen on each and every day - earnings are announced and geo-political changes occur worldwide. After the fact, analysis say "this is why the market did this" - but they can't really prove any of it - it's simply an opinion.
Sure, the market took a hit when the end of QE was announced - and I even POSTED that that was likely to happen (in MY opinion) in this thread right here (wiht my reply posted on Dec 1st):
Quote:
Originally Posted by LordBalfor
Sure, I remember - it was a few hundred points, which is a pretty small percentage (and it bounced back in fairly short time). Back in April however - the first time tapering looked like it would happen soon, gold got CRUSHED - dropping about 20% (and never DID bounce back).
Tell me again how it's STOCKS that's supported by the taper rather than GOLD.
Will stocks fall when taper happens? Sure, maybe by 5-10% or so, but nothing really significant considering the major gains it's made over the last 5 years (more than DOUBLING- and climbed over 15% this year ALONE).
And I DID re-read the article. It said nothing of the sort. Show me where it says that (show me the quote).
And this is EXACTLY what happened - when tapering actually took place the market came down around 6.5% - right in the range I said would happen back on Dec 1st - and then once that reality was "digested" by investors, the market bounced right back. That process is likely to be repeated with each segment of taper - and each time the drop is likely to be a bit less significant and the bounce back quicker.
In the final analysis, the stock market will weather the end of QE just fine - for the simple reason that QE really had NOTHING to do with the market rise to begin with.
I didn't even bother clicking whatever ridiculous source that link would lead me too, because the DJIA is still hovering near record highs...
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Such brilliance is probably why your father called you Son.
