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w00t at the price of gas in the US (pg. 2)
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| Shifty-1 |
| hahaha $3.10 here |
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| sean5 |
| just wait until the chinese and indians start driving all the time |
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| Krypton |
| quote: | Originally posted by mezzir
eh dubya's only partially to blame
granted gas prices would be high anyways, but the fact that the prise has been increasing (seemingly) without end has led to people trading it more and more as a paper commodity, to the point where price no longer represents price/demand. the traders have been artificially driving up prices of crude. the ******s. |
That is a limited factor. I would give traders more credit for driving the volatiliy in the oil prices. The most prominant factor in oil's record highs really pisses me off. It's the dollar, and it's mismanagement by the government. Bloody war, cash infusions, national debt, and mortgage crisis. I can't stand the Bush administration...:mad:
The lower the dollar falls, the higher priced oil becomes. Inflation is killing us right now, and oil is one of the highest inflationary commodities right now. Double digit inflation is never a good thing. Lots of geo-political risks affecting the oil markets.
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| Krypton |
| quote: | Originally posted by mezzir
eh dubya's only partially to blame
granted gas prices would be high anyways, but the fact that the prise has been increasing (seemingly) without end has led to people trading it more and more as a paper commodity, to the point where price no longer represents price/demand. the traders have been artificially driving up prices of crude. the ******s. |
That is a limited factor. I would give traders more credit for driving the volatiliy in the oil prices. The most prominant factor in oil's record highs really pisses me off. It's the dollar, and it's mismanagement by the government. Bloody war, cash infusions, national debt, and mortgage crisis. I can't stand the Bush administration...:mad:
The lower the dollar falls, the higher priced oil becomes. Inflation is killing us right now, and oil is one of the highest inflationary commodities right now. Double digit inflation is never a good thing. Lots of geo-political risks affecting the oil markets.
Notice how as the dollar goes down, oil goes up... |
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| Zewad |
$3.19 here for low stuff...
i remember summer after my freshman year in college (1999).. it was .88 cents... what a good time that was... |
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| jerZ07002 |
| quote: | Originally posted by chach
I remember gettin gas for 1.10 |
i remember gas prices around $0.70 when i started driving ten years ago. I would honestly like to see gas prices rise to around $4.50. But i don't want that money in the hands of ExxonMobile, i would rather have the money paid for taxes and fund R&D projects for alt energy and efficiency projects. High gas prices is a short term pain that is necessary for innovation and advancement past our wasteful ways. |
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| *~*Angelblue*~* |
it's making me want to get a bicycle so i don't have to drive so much. we don't have a right to bitch about it either. just about everyone else has been getting ass raped a lot longer then what we have.
i'm hoping with the rising fuel cost, atlanta residents will start realizing that marta (the subway) is soooo needed in the suburbs! |
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| Fibonacci |
| quote: | Originally posted by mezzir
eh dubya's only partially to blame
granted gas prices would be high anyways, but the fact that the prise has been increasing (seemingly) without end has led to people trading it more and more as a paper commodity, to the point where price no longer represents price/demand. the traders have been artificially driving up prices of crude. the ******s. |
That is partially true. The market sets oil and gas prices, for the most part. The government and politics have little to do with it.
Take a look at inflation curves - you'll see that the price of gas has NOT kept up with inflation over the years. If anything, gas prices are leveling now to what they should be in that respect. Prior to 2004, gas was getting cheaper for the most part. Overseas competition (China) for a limit supply of a commodity (Oil) is driving the competition through the roof.
Not only that, but we get some of our oil from venezuela - check out how much they pay for gas! |
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| inconspicuous |
| quote: | Originally posted by La5eR
So if you want to be ass-raped by the US Govt just come to the US and buy our crude. youll need to buy it while getting your colon pounded by GEE DUBYA though. |
jump off a bridge. |
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| Matt Es |
| the station down the street sells gass for $3.99 |
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| jerZ07002 |
| quote: | Originally posted by Fibonacci
That is partially true. The market sets oil and gas prices, for the most part. The government and politics have little to do with it.
Take a look at inflation curves - you'll see that the price of gas has NOT kept up with inflation over the years. If anything, gas prices are leveling now to what they should be in that respect. Prior to 2004, gas was getting cheaper for the most part. Overseas competition (China) for a limit supply of a commodity (Oil) is driving the competition through the roof.
Not only that, but we get some of our oil from venezuela - check out how much they pay for gas! |
OPEC sets oil prices. that's why the oligarchy's meetings are so important. Since OPEC consists of foreign governments, governments effectively control the price of oil. While it is technically true that the market sets the price of oil, there is one major obstacle to holding that as a virtue: the supply of oil is tightly controlled. Oil will never experience a true equilibrium price because the supply of oil is so tightly controlled and we don't know how low the price would actually fall if supply flooded the market.
Even so, your statement doesn't contradict what the other poster said because the traders are in the market to purchase, and they actually have the right for delivery of that oil. This isn't a play thing, in the futures market if the future contract expires the purchaser has the right to demand delivery of the actual commodity. |
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| Nostalgic |
| quote: | Originally posted by La5eR
So if you want to be ass-raped by the US Govt just come to the US and buy our crude. youll need to buy it while getting your colon pounded by GEE DUBYA though. |
Liberals are funny, especially you. |
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