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Thread: Oil prices plunge 6% for the week

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    Re: Oil prices plunge 6% for the week

    Quote Originally Posted by Matt Foley View Post
    How does a law mandated multiple thorium reactors affect gas prices?
    if we build enough electrical infrastructure, we could transition much of our transportation model from gasoline to electric. thorium at least looks hopeful. certainly safer than existing nuclear technology, but i'd support that also if thorium falls through.

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    Re: Oil prices plunge 6% for the week

    Quote Originally Posted by mbig View Post
    Recent supply numbers, less US consumption in the First quarter, and general world weak economics have finally hit oil.
    That, and general weak market conditions/economic outlook that has depressed stocks the last few days.



    Oil prices plunge 6% for the week - May. 4, 2012
    May 4, 3.26 PM

    A note to those who complain about 'speculators'... they can also lose.
    Looking at this thread, I don't see anyone picking up on the correlation of oil / commodities
    price action Vs. the USD value index. Last Tues, on May 1, the dollar began a sharp rally,
    Monday of this week being the only down day since. Since last Tues we see the USD
    move from 78.60 to it's current level of 80.15 as measured on $DXY.
    All things valued in USD usually move inversely to the dollar, it's been this way since
    QE2 began, again usually but not always as in everyday.
    This isn't rocket science. The US markets follow this inverse move as well as all commodities.
    For oil though, geopolitical events cannot be ignored. The Iran oil embargo doesn't begin
    until July. If I were anyone touting political victory in regard to gas prices, I'd be holding
    my tongue right now.................

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    Re: Oil prices plunge 6% for the week

    Quote Originally Posted by mbig View Post
    There has been an 'Iran Premium' in oil for a few years now. Not just because of speculating there will be trouble, but not allowing speculation on the other side. It is/was perilous to short $100 oil to make $20 but maybe lose $100 if hostilities broke.

    Beside the disappointing numbers on employment, you have both the Greek and French elections Sunday.
    The more socialist candidate, Hollande, ahead by 6% in France perhaps threatening Austerity there; and if Greece moves Left, their debt deal could be blown.
    So you had the Dow down 168 today after losing yesterday as well.
    Nervous liquidation on all fronts and in other commodities too.
    About the only thing up today was Gold and US T-bills/bonds on that fear.
    There are multiple factors to everything. Of course, the price is always relative to supply and demand. Sometimes supply is a problem, and that can be related to government policy. Sometimes demand is the driving factor and that can be free market or government policy. In the case of oil prices today, Obama has done little (despite is false claim to the contrary) to relieve the price by allowing for the increase in supply. He's also responsible for the sluggish economy (he didn't start it, but he has prolonged the recession). So, when the price of oill goes up because people try to get the economy going, supply is to low and the price goes up. When the economy slows (partly because the cost of oil is limiting now) Obama is also responsible. Then there is the third tangible and that is the value of the dollar. Part of the rise in the cost of oil has been the decline of the dollar as a result of QE1 and QE2 (though that has been helped by the European printing press).
    You, my brothers and sisters, were called to be free. But do not use your freedom to indulge the flesh; rather, serve one another humbly in love.For the entire law is fulfilled in keeping this one command: “Love your neighbor as yourself.”

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    Re: Oil prices plunge 6% for the week

    Quote Originally Posted by ksu_aviator View Post
    There are multiple factors to everything. Of course, the price is always relative to supply and demand. Sometimes supply is a problem, and that can be related to government policy. Sometimes demand is the driving factor and that can be free market or government policy. In the case of oil prices today, Obama has done little (despite is false claim to the contrary) to relieve the price by allowing for the increase in supply. He's also responsible for the sluggish economy (he didn't start it, but he has prolonged the recession). So, when the price of oill goes up because people try to get the economy going, supply is to low and the price goes up. When the economy slows (partly because the cost of oil is limiting now) Obama is also responsible. Then there is the third tangible and that is the value of the dollar. Part of the rise in the cost of oil has been the decline of the dollar as a result of QE1 and QE2 (though that has been helped by the European printing press).
    Nope, according to Republicans Obama is the only factor, and he's done an amazing job lowering the price of gas. Thank you Mr. President!
    "The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. ... 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."

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    Re: Oil prices plunge 6% for the week

    Quote Originally Posted by AdamT View Post
    Nope, according to Republicans Obama is the only factor, and he's done an amazing job lowering the price of gas. Thank you Mr. President!
    I am pretty happy with the way things are going...the price needs to go down further, but I am glad the rollercoaster stopped going up.
    We went from sticks and stones may break my bones but words will never hurt me to safe spaces.

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    Re: Oil prices plunge 6% for the week

    Quote Originally Posted by AdamT View Post
    Nope, according to Republicans Obama is the only factor, and he's done an amazing job lowering the price of gas. Thank you Mr. President!
    That's not what was said, that's just what you heard.
    You, my brothers and sisters, were called to be free. But do not use your freedom to indulge the flesh; rather, serve one another humbly in love.For the entire law is fulfilled in keeping this one command: “Love your neighbor as yourself.”

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    Re: Oil prices plunge 6% for the week

    Quote Originally Posted by Helix View Post
    if we build enough electrical infrastructure, we could transition much of our transportation model from gasoline to electric.
    Actually there is no need to "build enough electrical infrastructure" for anyone to buy an electric car as it is now. Plug it in, whallah.

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    Re: Oil prices plunge 6% for the week

    Quote Originally Posted by Matt Foley View Post
    Actually there is no need to "build enough electrical infrastructure" for anyone to buy an electric car as it is now. Plug it in, whallah.
    I don't think that is 100% accurate.
    We went from sticks and stones may break my bones but words will never hurt me to safe spaces.

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    Re: Oil prices plunge 6% for the week

    Quote Originally Posted by Matt Foley View Post
    Actually there is no need to "build enough electrical infrastructure" for anyone to buy an electric car as it is now. Plug it in, whallah.
    The grid can't hold that additional pull, which is why they "recommend" that you charge any electrical vehicle overnight, when consumption is at its least.

    Very few people understand that the electricity that comes out of your wall plug was created mere seconds before it was used. The grid isn't designed for storage, but for on-demand push. A constant struggle for equality of generation and consumption. Which is why high-energy use areas and/or low energy production areas have brownouts on a regular basis.

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    Re: Oil prices plunge 6% for the week

    Quote Originally Posted by Matt Foley View Post
    Actually there is no need to "build enough electrical infrastructure" for anyone to buy an electric car as it is now. Plug it in, whallah.
    major cities experience brownouts right now when demand is high. add a significant percentage of plug-in vehicles to that demand, and i think we'll begin seeing even more serious supply issues.

    i don't see how we could go wrong by expanding the grid.

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