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Thread: Oil prices plunge 6% for the week

  1. #31
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    Re: Oil prices plunge 6% for the week

    Quote Originally Posted by Blue_State View Post
    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.
    I disagree with you. We need to get off our dependency on oil and that isnt going to happen while gas is affordable. I wish gas would hit $20/gal.
    I'm for truth, no matter who tells it. I'm for justice, no matter who it is for or against. I'm a human being, first and foremost, and as such I'm for whoever and whatever benefits humanity as a whole.


  2. #32
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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. thorium at least looks hopeful. certainly safer than existing nuclear technology, but i'd support that also if thorium falls through.
    What will happen to the price of thorium if what you want happens?

  3. #33
    Death2Globalists Matt Foley's Avatar
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    Re: Oil prices plunge 6% for the week

    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.

    Quote Originally Posted by Helix View Post
    major cities experience brownouts right now when demand is high.
    nonononono. You claimed there was no electrical infrastructure, I say there is, you cannot come back with, "Brownouts," something that happens rarer than a 3 legged ballerina.


    add a significant percentage of plug-in vehicles to that demand,
    nononononono, that's not how infrastructure works. First there is demand, THEN it gets built, not built it first and PRAY there is demand.

    and i think we'll begin seeing even more serious supply issues.
    You aint gonna be seeing jack and tom, and jack just left town. Nobody is buying electric cars.

    i don't see how we could go wrong by expanding the grid.
    Sure, but it won't effect oil import prices one way or another. lol I almost said oil "imprices", a combination of imports and prices, lol.

  4. #34
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    Re: Oil prices plunge 6% for the week

    Quote Originally Posted by Matt Foley View Post
    nononononono, that's not how infrastructure works. First there is demand, THEN it gets built, not built it first and PRAY there is demand.
    Yeah, like when they build all those locomotives and then someone said, "hey, now there's a real demand for tracks!"
    "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."

    -- Adam Smith

  5. #35
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    Re: Oil prices plunge 6% for the week

    Quote Originally Posted by ksu_aviator View Post
    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.
    Nonsense. U.S. Oil production has increased by around 18% since the end of 2008.

    He's also responsible for the sluggish economy (he didn't start it, but he has prolonged the recession).
    The recession was over in June of 2009. What you are trying to state is that he is responsible for the sluggish recovery (which is also false).

    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.
    Do you just make this **** up as you go? The price of oil has very little to do with the state of the U.S. economy. All relevant data suggests that OECD demand continues to decline as gains in consumption efficiency increase. You cannot have it both ways, and state that oil prices in the U.S. can be alleviated by increasing supply while later stating that the price of oil is increasing due to increases in domestic demand (which is not true).

    Data

    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).
    Seriously? The U.S. dollar index spot is up 7.4% this past year, while oil prices continue to climb.

    Instead of turning this into an anti-Obama rant with the intention to placate, you should do some actual research so to avoid getting called out for erroneous claims.
    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

  6. #36
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    Re: Oil prices plunge 6% for the week

    Hmm, given that Obama is focused on energy saving measures, like stimulus programs to make buildings more energy efficient, higher CAFE standards, etc., it seems like he's doing the right things to guard against price shocks.

    Policies that promoted greater production of oil in the United States would probably not protect U.S. consumers from sudden worldwide increases in oil prices stemming from supply disruptions elsewhere in the world, even if increased production lowered the world price of oil on an ongoing basis. In fact, such lower prices would encourage greater use of oil, thus making consumers more vulnerable to increases in oil prices. Even if the United States increased production and became a net exporter of oil, U.S. consumers would still be exposed to gasoline prices that rose and fell in response to disruptions around the world.

    In contrast, policies that reduced the use of oil and its products would create an incentive for consumers to use less oil or make decisions that reduced their exposure to higher oil prices in the future, such as purchasing more fuel-efficient vehicles or living closer to work. Such policies would impose costs on vehicle users (in the case of fuel taxes or fuel-efficiency requirements) or taxpayers (in the case of subsidies for alternative fuels or for new vehicle technologies). But the resulting decisions would make consumers less vulnerable to increases in oil prices.


    http://www.cbo.gov/sites/default/fil...gySecurity.pdf
    "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."

    -- Adam Smith

  7. #37
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    Re: Oil prices plunge 6% for the week

    The move into the $77 level as projected at the close of May 4th, 2012, was completed on June 27th, 2012, for a gross profit of $21.25.

    Just for posterity sake.




    As referenced in post #10:

    http://www.debatepolitics.com/breaki...post1060460809
    Last edited by PW4000; 10-18-12 at 04:22 PM.

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