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Who are these "dirty rotten bastids" you are referring to?
The one's controlling the price increase. Whether it be those who are buying up (hoarding) all the oil or the one's selling it on this end to try and increase their profit margins.
The one's controlling the price increase. Whether it be those who are buying up (hoarding) all the oil or the one's selling it on this end to try and increase their profit margins.
my opinion...political pressure..consumer tolerance levels pushed to their max forcing them to explore alternative fuels or buy more efficient vehicles. The masses tend to back off once they see prices coming down again... "they" know how far to push the public and whne to ease off - Just my conspiracy theory
Uh, if Wall Street could manipulate prices like you say.. they would keep prices high ALL of the time. Why don't they do that?
That was a very ignorant statement and you know it.
They can INFUENCE prices, but "they" are not a cohesive unit. You need everyone to agree to a gameplan to make the association of Wall Street as a single almost sentient being.
BUT, oli prices going over $140 a barrel was NOT because of a shortage. It was because of oil speculation and corporate investment.
Were you areound for the shortages and gas lines of the 70's? I remember sitting in the back f the station wagon as my mother waited in line for 2+ HOURS for gas.
Saynig that supply/demand or even Saudi/Arab interests drove the price up that high is rather ignorant and I hope that is not what you are saying.
Quote:
For every buyer, there is a SELLER. Understand that.
+2 obvious points.
But if the seller can convince the buyer that Oil will GAIN value in the near future because of, well, lets say the artificial increase of easily supplied demand, you will get an additional boost to the seasonal price spike.
This is not a blame game here, just what happens. If people want to start pointing political fingers, the first pointed should be at those that were elbow deep in oil when making decisions about how it should be managed.
I believe they are still trying to figure out how to collect on the "lease" of our national properties to some of these companies but are somehow afraid to do so directly.....
my opinion...political pressure..consumer tolerance levels pushed to their max forcing them to explore alternative fuels or buy more efficient vehicles. The masses tend to back off once they see prices coming down again... "they" know how far to push the public and whne to ease off
the day traders, hedge funds, and shorts need to recoup some of their losses, and are back to their manipulative ways... but ultimately it's Big Oil that gets the lion's share of the profits
if only we could force those that purchase oil futures to actually take delivery of the oil (instead of just the paper contracts), then we'd see a return to sanity on prices.
Suppliers are cutting supply to balance out demand destruction. If you want to know why oil goes up, ask Helicopter Ben Bernanke. You don't get to print trillions of dollars and play Santa Claus without rising prices. Btw...oil reserves throughout the world are slated to be in permanent decline in a year or two. Cheap oil is a thing of the past. My suggestion to you, buy into the oil market. There are any number of stocks or trusts you can buy to protect yourself from rising oil prices.
gas prices in NJ have gone up 66% since last Nov. (and remember, NJ is a refinery/distribution hub, so we're supposed to be cheaper than the rest of the country)
the "summer blend" excuse is a freaking joke, just another way to gouge consumers. anything over $2 /gal. is still too high -- if they want people back out shopping, lower the price it costs them to get there.
gas needs to be way below $2 and stay there. those who drive market prices up on gas are only biting the hand that feeds them in the end. don't try and say that gas prices had no affect on bringing the economy to where it is now. one day people need to realize there is always a negative to getting rich quick. so yeah, go buy stock in oil and drive the price up to make a quick buck and the economy will be right back where it is now, in the bottom of the barrel.
there is no fundamental reason for the oil thugs to be squeezing the life out of the "little green shoots" of this economy. refinery capacity utilization in the U.S. is at one of the lowest levels in years. the Energy Department said refinery utilization was at 83.7% of capacity as of the week ending May 8.
in 2008, the annual average was 85.4%, which was the low[est] point since at least 2003, during a period when it was often above 90%. refiners and producers are starting to cut back and make less oil products, since "it's simply not cost effective and the margins are too low," said Kevin Kerr, editor of Global Commodities Alert.
can you believe this ?!?! record-breaking profits being reported every quarter, but the margins are too low ?? eventually, this will lead to even tighter supplies and higher prices for gasoline. a little over 3 weeks ago there was a story about how Chevron was very upset about their Quarterly profit margin, not long after Shell basically said the same... Bang ! overnight the price of gasoline started it’s climb... there will be inflationary pressure at some point, but for now the "long bond" buyers are not worried about inflation for the next 10 years, apparently... we'll be lucky if this whole house of bad paper does not send us into deflationary purgatory. I want the commodity pumpers to just go away... they were the straw that broke Joe 6-pack's back last year and I sure would like to see the commodity markets restricted to only producers and end suppliers, as they're only "players" who are actually participants. it's a bunch of $$ chasing "investors" and "money managers" who ran the price of grains up so hard last year that they put 20 million people in danger of starvation. is that responsible capitalism ?
Public Citizen | Myths and Facts about Oil Refineries in the United States (http://www.citizen.org/print_article.cfm?ID=11829 - broken link)
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