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So Trump last night, and this AM, was on TV talking about our economy. He claims the banks were given huge amounts of money but they are still not lending. One of Americas main economic issues.
Also, he was stating that the Oil barges are sitting out at sea. If we don't have them enter our shores then he states that the "Oil will be dumped in our precious ocean." That gave me thoughts of the late 70's when the odd/even lines were formed for gasoline. At that time there were whispers of Oil barges just off the coast......sitting at sea. Here we are 40 years later talking about barges sitting out there, while our prices continue to rise. Someone tell me who is in charge of this? Who has the knowledge of letting us know if this is again the case?
Trump stated that OPEC thinks the US is stupid.......He knows this as a fact. So perhaps we are, to be so controlled by the Worlds Oil producers. How about our President standing on a dock and waving these barges in one by one. This affects our homes, our transportation, our work places, manufacturing........those darn home oil and gas prices!
Trump felt that the lobbyist were to blame on the oil situation. He felt that there is a ton of Oil all over the World and we should not be subjected to this. " Oil is all over the place, Worldwide" he stated. Oil, he remarked, should be at $20 to $30 dollars per barrel, rather then $70. And........I hear it is up by two more dollars today!
I listened to him speak twice and I realized he was right........ The banks were to let loose with the money given to them for one thing........ The Oil situation needs to be worked on........He mentioned OPEC needs to be split up. I think we might need Alaska to help us out, or other countries..........but.........lets not go another 40 years blind to this.
40 years ago the whispers were here and there concerning the barges........They did nothing then either. Maybe we are a stupid. For the fact that we let these shenanigans go on and on for decades. What say you?
Gas prices have dropped about 5 cents a gallon since you started this thread.
We currently have the lowest summer prices since 2005...not adjusted for inflation or currency.
But hey, lets not let facts get in the way....it's all someone else's fault, I want stuff cheaper!
Banks are not lending because they have started enforcing qualification guidelines and many of those who are applying for financing are not credit worthy or have insufficient collateral. What does Mr. Trump Fool want to do, re-start lending willy nilly again like what has happened in the last 5 years? Ridiculous!
Trump is a traitor who has only his vested interests in mind.
I thought our money that went to the banks was for 'stimulus', meaning they would be able to take a bit more loan risk in order to kick start the economy. If they are not willing to do that, perhaps we should demand it back.
I predict that oil will be trading at less than $50 a barrel by next month.
And then Obama will TAX the hell out of it to discourage people from buying gas guzzlers and instead buy gas sippers. This will help the Unions out that Obama has to pay back for helping get elected, and get those small gas sippers cars rolling down the assembly line so the masses will think we are running out of oil. Once again the CHANGE has begun. Obama!! Obama!!
I thought our money that went to the banks was for 'stimulus', meaning they would be able to take a bit more loan risk in order to kick start the economy. If they are not willing to do that, perhaps we should demand it back.
They were loans not free money like the stimulus. Have you gone and made a loan then gave it to any body else. But tehn the stimulus isn't a stimulus either its about 70% free money to specail interest.The bank have wither gave it back or are begging to but obama and geithner wouldn't let many do that. Obama is alos going to make it even tougher for them to make loans with the new regualtions.Wehre have you been the last 6 months.
They were loans not free money like the stimulus. Have you gone and made a loan then gave it to any body else. But tehn the stimulus isn't a stimulus either its about 70% free money to specail interest.The bank have wither gave it back or are begging to but obama and geithner wouldn't let many do that. Obama is alos going to make it even tougher for them to make loans with the new regualtions.Wehre have you been the last 6 months.
Yes, and we really need those regulations. It was removing them that caused the financial crash, just like before. We cannot trust financial markets to self police. We never could.
And then Obama will TAX the hell out of it to discourage people from buying gas guzzlers and instead buy gas sippers. This will help the Unions out that Obama has to pay back for helping get elected, and get those small gas sippers cars rolling down the assembly line so the masses will think we are running out of oil. Once again the CHANGE has begun. Obama!! Obama!!
Lol. Obama isn't stupid...he is not about to help the unions out when they already support him. Milk for free and all that. Heck, Bill Clinton pushed NAFTA through against union opposition...with devastating consequences for unions and they still never thought to break ranks.
P.S. Gas prices have fallen steadily now for the last month.
Maybe the barges are finally allowed into port.........Does anyone see a big long line of tankers out there?
There is a finite amount of refining capacity.
Let's try a simple example, lets say that everyone in the US wanted to drive 10% more this month. (Increased Demand). Let's assume there is an infinite supply of oil tankers sitting offshore (Supply of oil).
Now, key point, Supply of oil <> Supply of Gasoline.
So, it doesn't matter how many tankers you "let in" you just do not have the refining capacity. Refineries are expensive so they are run at close to fully production and sometimes they have fires etc. too.
Shockingly, since demand for gas increases but the supply is unable to rapidly adjust...the price goes up until an equilbrium point is reached. Conversely, since demand has fallen...the price has fallen the past month.
Now, go back an read what Trump was blathering about and explain the whole "tankers in the gulf" theory again using economics and financial principals.
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