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Thread: Gas prices are highest ever for this time of year

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    Re: Gas prices are highest ever for this time of year

    Quote Originally Posted by EagleAye View Post
    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?
    Circumvating? No, it is the process.

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    Re: Gas prices are highest ever for this time of year

    Quote Originally Posted by 1Perry View Post
    Circumvating? No, it is the process.
    They seem about as useful as teats on bull. Given optimal conditions, are Speculators useful, or are they like a VAR (without the added-value)?
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    Re: Gas prices are highest ever for this time of year

    Quote Originally Posted by EagleAye View Post
    They seem about as useful as teats on bull. Given optimal conditions, are Speculators useful, or are they like a VAR (without the added-value)?
    That is a complicated question. Speculation can be a great asset when someone is looking for funds to create a new business.

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    Re: Gas prices are highest ever for this time of year

    Quote Originally Posted by 1Perry View Post
    That is a complicated question. Speculation can be a great asset when someone is looking for funds to create a new business.
    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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    Re: Gas prices are highest ever for this time of year

    I do not know what people are complaining about , I have to pay 9,14 USD a gallon when I am going to go to the gaspump later today (Netherlands).

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    Re: Gas prices are highest ever for this time of year

    The increase in gas prices lies within the devaluation of our dollar.

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    Re: Gas prices are highest ever for this time of year

    Quote Originally Posted by Joeygetzo View Post
    The increase in gas prices lies within the devaluation of our dollar.
    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.

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    Re: Gas prices are highest ever for this time of year

    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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    Re: Gas prices are highest ever for this time of year

    Quote Originally Posted by EagleAye View Post
    Okay, in the case of oil, are speculators fulfilling an important role? Are they abusing their position, or does it just seem like it?
    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.

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    Re: Gas prices are highest ever for this time of year

    Quote Originally Posted by EagleAye View Post
    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?


    Demand is up world wide, and oil is a commoditiy that is sold on the world wide market
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