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Gas prices are highest ever for this time of year

Joeygetzo said:
The increase in gas prices lies within the devaluation of our dollar.
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I think it is more a case of shortage of oil. There is more need for oil than there is actual oil to have. And pumping more and more oil will only work in the very short time because there isn't an infinite supply of oil on our planet. Sooner rather than later we are going to run out of oil. So with more demand for oil and no bigger production it is logical that prices will go up. At least that is what I think.
 
The New York Times did a study on the increase in oil prices i believe for the year of 2009 or 2010. They determined that when comparing the price of oil to gold it was basically the same, however compared to the american dollar, the price of oil increased 3 percent. 2.5 percent for the euro. The truth of the matter is yes oil will run out, but we have no idea when. Oil reserves are being found more than ever today. So yes the supply of oil is affect the price, but the devaluation of the unbacked currency is the most vital part.
 
EagleAye said:
Okay, in the case of oil, are speculators fulfilling an important role? Are they abusing their position, or does it just seem like it?
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It makes sense for businesses that are heavily dependent on fuel prices, like airlines and trucking companies. Those are the entities that oil futures trading was designed to support. It allows them to have predictable costs so they can plan accordingly. People and businesses that don't purchase large quantities of fuel directly should not be permitted to trade in oil futures.
 
EagleAye said:
Well, that's what I'm seeing too. US oil production is spiking while US oil demand is dropping, yet gas prices remain the same or even climb.

So what the hell is going on?

The normal rules of Supply and Demand aren't working. It would seem Speculators are circumventing the process, would anyone agree?
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Demand is up world wide, and oil is a commoditiy that is sold on the world wide market
 
Joeygetzo said:
The New York Times did a study on the increase in oil prices i believe for the year of 2009 or 2010. They determined that when comparing the price of oil to gold it was basically the same, however compared to the american dollar, the price of oil increased 3 percent. 2.5 percent for the euro. The truth of the matter is yes oil will run out, but we have no idea when. Oil reserves are being found more than ever today. So yes the supply of oil is affect the price, but the devaluation of the unbacked currency is the most vital part.
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Unbacked currency? LOL The dollar is considered the safest currency in the world. Investors flock to every Fed auction. Stop listening to that dinosaur, they went extinct years ago. Speculators are having a field day at our and the rest of the economy's expense. Capitalism at its worst and they are just begging to be stopped. I hope somebody listens. What really gets me is that it's the banks doing it to us again. How many times are they going to get away with tanking this economy?
 
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Samhain said:
Correct. When the big businesses start to change their business to where the money is to be made will be when we realize the change is happening.
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Indeed. Allegedly the rumor is that the big oil firms have been patenting a lot of the green tech patents over the last decade.

The Ford Mustang sold 380,000 in its first year. More comparable to the time, I think the first year run of the Prius was about 6,000.
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Was the indexed price back then? Gas too?

My thoughts on the green bankruptcies was that they banked on China's cost for raw materials going in up, but when the predicted shortage didn't occur, they went belly up. Again it points to the tech not being ready for prime time.
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That's probably a piece of it, but I thoughts are more that German, Dutch and Chinese governments are essentially handing out welfare to their firms while the US refuses to play ball. It's hard to compete with someone who has an endless line of cheap credit behind them. South Korean Chaebols rose to their status today by doing just that.

Couldn't agree more. The tech isn't ready for mass production and consumption.
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You said that. I forgot to put that in quotes.

And there is money to be made. Chinese and German firms not to mention Dutch have been profitable for quite some time, abet with some "help."
 
sawyerloggingon said:
Gas use has gone down since obama got here but gas prices have gone up, want to see a fool, look in the mirror.
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It helps to understand what you are talking about before talking about it.

Obama entered the Presidency during the worst recession since the Great Depression. It makes sense that gas usage in the US has declined. But what you completely and utterly fail to understand is that oil is not a nationalized product that is isolated from the rest of the world. Furthermore, the usage of oil as a currency hedge by large trading firms and institutions has artificiality driven gas prices up without a corresponding demand for end product increase. The Libyan adventure, growing global demand and increasing usage in recent months of oil all point to higher gas prices.

Blaming Obama for something he has little control over is just partisan.

If you want prices to decrease, lobby Obama to remove Iranian sanctions. That will instantly reduce prices.
 
sawyerloggingon said:
The theory presented by libs was gas prices went up and are still going up due to Obams growing economy.
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That would be a dishonest argument of your own creation. No one said that gas prices are solely going up because of the growing economy except you. You can lie all you want. We also can point out you are a liar.

The graph clearly shows gas consumption in US has trended down since obama was immaculated so the theory is clearly wrong.
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Come again?

This Week In Petroleum Gasoline Section

That's the most recent data. US supply is going down due to consumption and exporting. How does that prove the theory wrong?

And the last graph:

gtpsusm.jpg


Shows you are wrong on consumption. Look, as the economy improves....so does consumption!
 
obvious Child said:
Blaming Obama for something he has little control over is just partisan.
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Then I am quite sure that you will say that the last time gas hit this price, and mouth foamers like Schumer, Pelosi, Wasserman-Schultz, and alike were on every DC street corner in front of camera's blaming Bush, to the tune of 91 reports by the MSM in a week, as compared to the crickets we see now with only 21 reports done in a week was nothing more than partisan hackery then too, right?

You can't have it both ways dude.


j-mac
 
EagleAye said:
Okay, in the case of oil, are speculators fulfilling an important role? Are they abusing their position, or does it just seem like it?
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Again, not that simple. Are they buying for an end user? Or are they simply buying for an investor that isn't interested in ever actually using a single barrel?
 
obvious Child said:
Blaming Obama for something he has little control over is just partisan.

If you want prices to decrease, lobby Obama to remove Iranian sanctions. That will instantly reduce prices.
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He has little control but if he would make one move the market would fall?
 
obvious Child said:
It helps to understand what you are talking about before talking about it.

Obama entered the Presidency during the worst recession since the Great Depression. It makes sense that gas usage in the US has declined. But what you completely and utterly fail to understand is that oil is not a nationalized product that is isolated from the rest of the world. Furthermore, the usage of oil as a currency hedge by large trading firms and institutions has artificiality driven gas prices up without a corresponding demand for end product increase. The Libyan adventure, growing global demand and increasing usage in recent months of oil all point to higher gas prices.

Blaming Obama for something he has little control over is just partisan.

If you want prices to decrease, lobby Obama to remove Iranian sanctions. That will instantly reduce prices.
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This is all great and cute and all....but I don't remember anything like this from your side when oil spiked during Bush's tenure. Then, it was he and Cheney in a backroom pulling strings and getting rich. It's like Abu Ghraib versus the recent pissing on dead Taliban men...one was Bush's fault, the other was the military's fault.
 
In my opinion the President CAN do things that cause oil to rise from its normative value, but there's not much he can do to lower the price from its normative value. Historically, war in the ME has been a major factor affecting oil prices. Invading Iraq caused oil prices to skyrocket. Saber rattling against Iran causes oil prices to rise. OTOH, recessions tend to cause oil prices to fall.

oilprice1947.gif
 
We need to create something that can run off water or air:)
 
Kali said:
We need to create something that can run off water or air:)
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It's already happening...

Zero Pollution Motors (ZPM) confirmed to PopularMechanics.com on Thursday that it expects to produce the world's first air-powered car for the United States by late 2009 or early 2010.

Read more: Air-Powered Car Coming to U.S. in 2009 to 2010 at Sub-$18,000, Could Hit 1000-Mile Range - Popular Mechanics
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Air-Powered Car Coming to U.S. in 2009 to 2010 at Sub-$18,000, Could Hit 1000-Mile Range - Popular Mechanics
 
j-mac said:
Then I am quite sure that you will say that the last time gas hit this price, and mouth foamers like Schumer, Pelosi, Wasserman-Schultz, and alike were on every DC street corner in front of camera's blaming Bush, to the tune of 91 reports by the MSM in a week, as compared to the crickets we see now with only 21 reports done in a week was nothing more than partisan hackery then too, right?

You can't have it both ways dude.

j-mac
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Not a Democrat. Your pathetic attempt at labeling has like all your arguments, failed.
 
1Perry said:
He has little control but if he would make one move the market would fall?
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Yeah. The price of oil is based on a large number of items, many of which a president generally has little control. I will grant this time it's somewhat different as the one thing Obama can actually do is scrap something that the partisan right wing hacks here want him to keep.

They blame him for high oil prices, but the vast majority of causes are out of his control. The one he does have control is the one they want him to keep.
 
Erod said:
This is all great and cute and all....but I don't remember anything like this from your side when oil spiked during Bush's tenure. Then, it was he and Cheney in a backroom pulling strings and getting rich. It's like Abu Ghraib versus the recent pissing on dead Taliban men...one was Bush's fault, the other was the military's fault.
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The oil increase during Bush's era was largely due to the the slide of the dollar and large investors and insitutions currency hedging via oil. Uncle Ben and Uncle Bush by loose monetary standards and deliberate fiscal policies pushed the dollar down and down. Exports were up for obvious reasons but a weak comparative dollar cause oil to increase. Right now we have somewhat of that effect but the other economies are in worse shape causing a flow back of money into the US which compenstates. Therefore the argument isn't really valid as the debasing of the dollar isn't happening like it did under Bush. The dollar is gaining strength largely on the back of a weak Euro. In essence we have Greece to thank for why oil isn't being used as a currency hedge.
 
j-mac said:
Then I am quite sure that you will say that the last time gas hit this price, and mouth foamers like Schumer, Pelosi, Wasserman-Schultz, and alike were on every DC street corner in front of camera's blaming Bush, to the tune of 91 reports by the MSM in a week, as compared to the crickets we see now with only 21 reports done in a week was nothing more than partisan hackery then too, right?

You can't have it both ways dude.


j-mac
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Well, Schumer, Pelosi, et al are partisan. That's what they do.

As far as the media goes, when Bush was President was the first time gas went to $3.00. That's news. It's not anymore. Kind of like when the Dow hit 10,000. Then it was news, now it's not.
 
obvious Child said:
Yeah. The price of oil is based on a large number of items, many of which a president generally has little control. I will grant this time it's somewhat different as the one thing Obama can actually do is scrap something that the partisan right wing hacks here want him to keep.

They blame him for high oil prices, but the vast majority of causes are out of his control. The one he does have control is the one they want him to keep.
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The point being is that you said he has no control over the prices in one sentence and then go on to note how he would do one thing and the prices would fall.

Which is it? Can he do things to control the prices or not?
 
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