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Old 10-02-2007, 03:36 PM
 
Location: South East UK
659 posts, read 1,371,204 times
Reputation: 138

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Quote:
Originally Posted by TexasRR View Post
Kind of a UK problem isn't it?

Might become universal sooner or later. The difference is all tax. Best we make hydrogen engines as quick as we can? The government always wanted to tax water.
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Old 10-03-2007, 08:51 AM
 
77,729 posts, read 59,858,282 times
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Quote:
Originally Posted by famenity View Post
Might become universal sooner or later. The difference is all tax. Best we make hydrogen engines as quick as we can? The government always wanted to tax water.
I'm still waiting to hear how demand has not outpaced supply over the past 6-7 years in either global oil demand or the US gasoline refinery business.

I'm really trying to de-politicize this discussion so when someone basically says it's because of Bush and his oil cronies....you need to back it up with something economic.

Bush will be out of the white house here shortly (something I'm certainly not upset about) and I'd like people to better understand what is going on instead of blaming every bad thing on a boogey man.

I think that this whole issue has been a distraction from the fact that we consume too much gas and that there is a limited supply. Also, taxes are a huge portion of the cost of gas....so are politicians going to blame errr.....themselves for the tax or will the blame the profit margins which are only a fraction the size of the taxes?
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Old 10-08-2007, 09:16 AM
 
77,729 posts, read 59,858,282 times
Reputation: 49121
Bump.

Ok, looks like we have our answer. How can people with such strong beliefs be so incapable of defending their positions?

I mean, if it were "I hate beets." I can understand that....but we're talking something fairly concrete in terms of economics. <sigh>
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Old 10-08-2007, 03:58 PM
 
Location: South East UK
659 posts, read 1,371,204 times
Reputation: 138
Quote:
Originally Posted by Mathguy View Post
Bump.

Ok, looks like we have our answer. How can people with such strong beliefs be so incapable of defending their positions?

I mean, if it were "I hate beets." I can understand that....but we're talking something fairly concrete in terms of economics. <sigh>
I fancy that the oil problem will not be the end of mankind but food resources will. Very soon nine million people will need feeding, instead of growing more we are setting aside food production acres for oil bearing crops.
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Old 10-08-2007, 04:24 PM
 
77,729 posts, read 59,858,282 times
Reputation: 49121
Quote:
Originally Posted by famenity View Post
I fancy that the oil problem will not be the end of mankind but food resources will. Very soon nine million people will need feeding, instead of growing more we are setting aside food production acres for oil bearing crops.
Your current thesis is that the laws of supply and demand do not fuction during the Bush administration as increased global demand vs. a limited supply should not have increased gas prices.

By that logic food prices should only increase if Bush and his evil farming cronies decide to raise food prices that should otherwise be unaffected.

We're lucky Jimmy Carter isn't president right now because supply and demand functioned during his presidency and less supply would mean higher prices.

P.S. Seriously though, your first sentence was awesome...."end of mankind",
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Old 10-09-2007, 09:12 AM
 
11,135 posts, read 14,142,889 times
Reputation: 3696
Seems the politics of petro dollars is changing as we speak

OPEC is considering moving assets out of US dollars and into more stable currencies. I'm sure this won't have an impact on the US economy though.

Amid the dollar's free fall following the half per cent interest rate cut in September, Qatar last week said its $50 billion sovereign wealth fund has cut its exposure to the dollar by more than half to about 40 per cent of its portfolio.

Gulfnews: Gulf funds drift away from dollar
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Old 10-09-2007, 04:34 PM
 
Location: South East UK
659 posts, read 1,371,204 times
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Quote:
Originally Posted by TnHilltopper View Post
Seems the politics of petro dollars is changing as we speak

OPEC is considering moving assets out of US dollars and into more stable currencies. I'm sure this won't have an impact on the US economy though.

Amid the dollar's free fall following the half per cent interest rate cut in September, Qatar last week said its $50 billion sovereign wealth fund has cut its exposure to the dollar by more than half to about 40 per cent of its portfolio.

Gulfnews: Gulf funds drift away from dollar
Quite rightTnHilltopper, saw this announced a while back, someone must have advised them of the Sub prime problem to come.
You may or not know that over here in the UK the Sub prime market has caused a run on a bank and is considered to be actually worse than the US exposure.
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Old 10-11-2007, 12:56 PM
 
77,729 posts, read 59,858,282 times
Reputation: 49121
Famenity,

Gas prices have dropped about 60 cents a gallon near me since the peak.

How can this be? Bush is still in office! Certainly it can't be demand has fallen from the summer driving season as supply and demand only impact things during the Carter administration but not during the Bush administration.

Based upon these theories I must assume that Bush has turned on his oil buddies in a moment of concience and is now charging less?

LMAOAY
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Old 10-11-2007, 01:26 PM
 
Location: Londonderry, NH
41,478 posts, read 59,535,221 times
Reputation: 24856
I just wish my salary had increased as fast as food and gas prices. Then I would not mind having my driving miles cut and restaurant meals nearly eliminated.

Setting prices in an oligopolistic situation is very difficult because the price/demand curve is not linear and maybe not amenable to exact mathematical analysis. The price that will maximize profit is difficult to determine. The apparent goal of long term oil price setting seems to be set a price that will maximize profits without making alternatives to using oil economically viable or creating enough political opposition that the oligopoly may be broken up into a competitive system.
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Old 10-11-2007, 01:43 PM
 
11,135 posts, read 14,142,889 times
Reputation: 3696
Oil per barrel, pre Iraq invasion, $27 a barrel, now at aprx $80. The recent drop in prices at the pump according to CNN was that reserves were increasing as motorist were becoming more frugal in their driving habits due to the higher prices in gas at the pump.

It will be interesting to watch if Hugo Chavez at some point decides to ask for their oil paid in Euro's as he has mumbled about before.

Iran is opening up an oil bourse and some claim it is one of the reasons for such pressure on Iran from the United States.

Iran's Oil Bourse: A Threat to the U.S. Economy? - Worldpress.org

This bit from Global Research

The Iranians are about to commit an "offense" far greater than Saddam Hussein's conversion to the euro of Iraq’s oil exports in the fall of 2000. Numerous articles have revealed Pentagon planning for operations against Iran as early as 2005. While the publicly stated reasons will be over Iran's nuclear ambitions, there are unspoken macroeconomic drivers explaining the Real Reasons regarding the 2nd stage of petrodollar warfare - Iran's upcoming euro-based oil Bourse.

The Real Reasons Why Iran is the Next Target:
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