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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 1Perry View Post
    I think I was pretty clear. Obama = Bush. When it comes to wanting to attack other countries, it seems they are one in the same. It would be clear to you IMO if Bush was doing this.
    Not sure Obama has declared war on (and sent troops to) Iran as of yet...
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    Re: Gas prices are highest ever for this time of year

    Quote Originally Posted by DaveFagan View Post
    Oil demand is at its lowest level since 1997. Supply and demand says that the price should follow demand. Manipulation seems to be the accepted status quo. Find the bottleneck. If it is banks and hedge funds buying tankerloads and holding them just outside the three mile limit to control, do the right thing, shoot them. That'd be the bankers that we bailed out. Don't let them make bail.
    Oil demand in the US might be at its lowest level since 1997 (which I doubt,) projected worldwide demand is for 89 million barrels per day for 2012 a 12 million bpd increase from around 2000

    The US only accounts for around 18-20 % of world wide oil demand, and its demand is generally stable +/- 5% in any one year. It is emerging market demand that is driving the price of oil and gas (not natural gas in the US) up.

    Heck if the US was smart it could and should build LPG plants on the east coast to export natural gas. But that would I believe break some US laws
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    Re: Gas prices are highest ever for this time of year

    Quote Originally Posted by sharon View Post
    Are you so inculcated with hate that you actually believe that Obama wants anything but a restructuring of failed policies?

    Do you truly believe that he wants to destroy the US?
    I don't want to believe that America has a leader so incompetent but his decisions, his actions and his policies makes throw my hands up in the air saying wtf

    Im neither Conservative or Liberal. I'm just an average swing voter and I want good leadership. I don't care if he/she's a Dem or a Rep, we need a good leader.

    And yes I was cursing Bush at the gas pumps during the Summer of 2008 and if they go up again this Summer, Obama should be held just as accountable as Bush was in 2008.

    Also if gas does sky rocket this Summer, try not to act too surprised at the price going up for food at the Supermarket. Not a good thing to happen for Obama during an election year.
    Last edited by Sparky; 02-20-12 at 07:11 PM.

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

    Quote Originally Posted by Sparky View Post
    I don't want to believe that America has a leader so incompetent but his decisions, his actions and his policies makes throw my hands up in the air saying wtf

    Im neither Conservative or Liberal. I'm just an average swing voter and I want good leadership. I don't care if he/she's a Dem or a Rep, we need a good leader.

    And yes I was cursing Bush at the gas pumps during the Summer of 2008 and if they go up again this Summer, Obama should be held just as accountable as Bush was in 2008.

    Also if gas does sky rocket this Summer, try not to act too surprised at the price going up for food at the Supermarket. Not a good thing to happen for Obama during an election year.
    The president of the United States does not have a giant dial in his office that says "oil prices." Regardless of which party he belongs to. Oil is a global commodity that is used for basically everything we do, its price is dictated by basic supply and demand, for the most part. This is something the American president has virtually no control over.

    Incidentally, the "drill baby, drill" crowd should take steps to learn more about the math behind the idea. Then they'll realize just how stupid it sounds when presented as this magical solution to rising gas prices. We can't drill our way to lower gas prices.
    Last edited by Deuce; 02-20-12 at 07:38 PM.
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    Re: Gas prices are highest ever for this time of year

    Quote Originally Posted by Lord Tammerlain View Post
    Oil demand in the US might be at its lowest level since 1997 (which I doubt,)
    Yeah... the low point was at the height of the recession, when demand plummeted and gas was less than half what it costs today.

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

    Why are oil prices so high and may continue to rise further? The simple answer is because the oil companies can.

    On Bill O'reilly last week they talked about this very issue. While US consumption of oil has declined our prices continue to rise. The Global demand for oil/gasoline is still strong so Oil companies are still processing as much oil but instead of easing production to match US consumption which would lowering prices and profit they are instead shipping product overseas keeping the perception of US demand high and prices with it. This will only continue to worsen as China's demand continues to rise even if we continue to lower consumption.

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

    Quote Originally Posted by Baralis View Post
    Why are oil prices so high and may continue to rise further? The simple answer is because the oil companies can.

    On Bill O'reilly last week they talked about this very issue. While US consumption of oil has declined our prices continue to rise. The Global demand for oil/gasoline is still strong so Oil companies are still processing as much oil but instead of easing production to match US consumption which would lowering prices and profit they are instead shipping product overseas keeping the perception of US demand high and prices with it. This will only continue to worsen as China's demand continues to rise even if we continue to lower consumption.
    Of course. It's a global market and oil is a commodity.

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

    Quote Originally Posted by Kushinator View Post
    I guess nobody paid $145 for oil since the price was "artificial". I believe the term you are looking for is volatile. Volatile and artificial are not the same thing.
    No, I had the right word.

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

    Quote Originally Posted by Baralis View Post
    Why are oil prices so high and may continue to rise further? The simple answer is because the oil companies can.

    On Bill O'reilly last week they talked about this very issue. While US consumption of oil has declined our prices continue to rise. The Global demand for oil/gasoline is still strong so Oil companies are still processing as much oil but instead of easing production to match US consumption which would lowering prices and profit they are instead shipping product overseas keeping the perception of US demand high and prices with it. This will only continue to worsen as China's demand continues to rise even if we continue to lower consumption.
    Oil companies do not set the price.

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

    Quote Originally Posted by 1Perry View Post
    No, I had the right word.
    If that was the case, i would not have had to correct your misuse of basic vocabulary. Prices by definition cannot be artificial no matter what underlying good to which we use prices to measure value.

    In finance, volatility is a measure for variation of price of a financial instrument over time.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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