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  • Yes, prices will fall

    5 14.71%
  • No, prices will not fall

    23 67.65%
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    6 17.65%
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Thread: Supply & Demand

  1. #21
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    Re: Supply & Demand

    Quote Originally Posted by Your Star View Post
    I really don't get this poll, it isn't something to debate, just an economic question with a right or wrong answer.
    This is typical of leftists.
    They take a question in its purest form, eliminate all the variables, and then say drilling won't reduce the price.

    That's also how we go bankrupt. With Ponzi Schemes that work on paper but eliminate all the human, and profit motivated variables.

    There are other variables like coal, natural gas, nuclear... two of three which leftists hate. Nothing new in the world of energy. No need to reinvent the wheel.

    So drilling more, producing more natural gas and oil, mining and using coal (which Obama wants to kill as well) and building nukes won't assist in driving down oil prices?

    OK.

    Know people know why we are in trouble.
    1 + 1 = 11

    .
    Last edited by zimmer; 06-20-10 at 08:21 PM.
    The Clintons are what happens...
    when you have NO MORAL COMPASS.

  2. #22
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    Re: Supply & Demand

    Quote Originally Posted by zimmer View Post
    This is typical of leftists.
    Not surprising. You consider statistics and math "leftist."

    They take a question in its purest form, eliminate all the variables, and then say drilling won't reduce the price.
    Okay genius, tell me what other factors would reduce the price of oil.

    Then claim zero variation because that's what the numbers tell you.
    Simple fact of the matter is that offshore is immaterial. There is no way with the increase in supply that it could even match the increase in demand. A belief that increased drilling in such areas could potentially reduce prices is to defy reality.

    There are other variables like coal, natural gas, nuclear... two of three which leftists hate. Nothing new in the world of energy. No need to reinvent the wheel.
    Relevance?

    So drilling more, producing more natural gas and oil, mining and using coal (which Obama wants to kill as well) and building nukes won't assist in driving down oil prices?
    Considering the majority of oil is used as a liquid fuel, more natural gas, coal and nuclear won't change the price of oil. Especially when the increase in demand is coming from non-US sources.

    Some days I feel bad smacking you down painfully.

    Tell me how increasing supply by less then 3% when demand is over 10% can somehow decrease prices. Try. Or just run away and ignore my post as you normally do.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

  3. #23
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    Re: Supply & Demand

    Quote Originally Posted by zimmer View Post
    This is typical of leftists.
    They take a question in its purest form, eliminate all the variables, and then say drilling won't reduce the price.

    That's also how we go bankrupt. With Ponzi Schemes that work on paper but eliminate all the human, and profit motivated variables.

    There are other variables like coal, natural gas, nuclear... two of three which leftists hate. Nothing new in the world of energy. No need to reinvent the wheel.

    So drilling more, producing more natural gas and oil, mining and using coal (which Obama wants to kill as well) and building nukes won't assist in driving down oil prices?

    OK.

    Know people know why we are in trouble.
    1 + 1 = 11

    .
    No, it is a simple economic question with a right or wrong answer. Ever heard of Ceteris paribus? Look it up.

  4. #24
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    Re: Supply & Demand

    Quote Originally Posted by Your Star View Post
    No, it is a simple economic question with a right or wrong answer. Ever heard of Ceteris paribus? Look it up.
    This is related to another thread.
    Hence, went over your head.

    .
    The Clintons are what happens...
    when you have NO MORAL COMPASS.

  5. #25
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    Re: Supply & Demand

    Quote Originally Posted by zimmer View Post
    This is related to another thread.
    Hence, went over your head.
    Doesn't matter, I didn't even know this was about oil until someone told me, and it still doesn't matter. It still is a simple right or wrong economic question. It's a type of question I answered in my first week of AP Economics last year.

    I'm guessing you still don't know what ceteris paribus means?
    Last edited by Your Star; 06-20-10 at 08:56 PM.

  6. #26
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    Re: Supply & Demand

    Quote Originally Posted by zimmer View Post
    This is related to another thread.
    Hence, went over your head.

    .
    Uh...you seem to think that supply increasing by 2.3% can reduce prices when demand is increasing 10.13% a year. Furthermore, you seem to think that the 2.3% increase, which will happen in 15 years can reduce prices when 10.13% increase is compounded over the same time period.

    If anything, this thread went entirely over your head.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

  7. #27
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    Re: Supply & Demand

    Quote Originally Posted by obvious Child View Post

    Some days I feel bad smacking you down painfully.

    Tell me how increasing supply by less then 3% when demand is over 10% can somehow decrease prices. Try. Or just run away and ignore my post as you normally do.
    The only thing you're smacking is in your right hand.
    I've made my case. Will let it stand.

    You can live in a bubble, and that's OK.
    You also take your arrogance one step further. You assume your numbers are correct.

    Is this familiar?
    If you enjoy variablity so much it should be instantly recognizable.
    It dovetails to 14 other little goodies.
    Tip: Sarasohn

    "Use of visible figures only for management, with little or no consideration of figures that are unknown or unknowable. "
    and
    Statistical calculations and predictions based on warped figures may lead to confusion, frustration, and wrong decisions.
    You can replace decisions with conclusions... if you like. One leads to the other.
    ROTFLMAO...

    ...the top academic energy journal, aptly named, ``The Energy Journal,'' recently rejected a study by economists Morris Coats and Gary Pecquet of Nicholls State University in Louisiana that found that higher production in the future would reduce prices today.

    The study... wasn't rejected because it lacked academic merit. It was rejected because the finding was so well known. James Smith, the impeccably credentialed editor of The Energy Journal described it this way to the unfortunate authors:

    ``Basically, your main result (the present impact of an anticipated future supply change) is already known to economists (although perhaps not to the Democratic Policy Committee). It is our policy to publish only original research that adds significantly to the body of received knowledge regarding energy markets and policy.''

    ...if you want oil prices to decline, drill.

    Start Drilling Now to Lower Oil, Gasoline Prices: Kevin Hassett - Bloomberg
    .
    Last edited by zimmer; 06-20-10 at 09:27 PM.
    The Clintons are what happens...
    when you have NO MORAL COMPASS.

  8. #28
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    Re: Supply & Demand

    Quote Originally Posted by zimmer View Post
    The only thing you're smacking is in your right hand.
    I've made my case. Will let it stand.
    Stand on what? A house of cards in a hurricane has more potential then what you post.

    You also take your arrogance one step further. You assume your numbers are correct.
    They are. Check the Drill thread. Furthermore, check the percentages on total world consumption.

    Still posting that crap? Your entire argument from that article rests upon what Gringrich said.

    What kind of argument is Gringrich said = True?

    No actual link the study.
    No discussion by anyone but Gringrich.

    Do you actually think you made a decent argument?

    I actually have math. Actual numbers. You know, something other then "Gringrich said so!"

    I'd ask you to show how less then a million barrels a day can reduce prices when world consumption is over 85 million barrels a day and rising at 10.13% a year. Tell me, what percent of 85 million barrels is 200,000?

    CAn a mom and pop grocery store force a Super Center to change its prices? LOL. That's what you're arguing.

    Let's recap:

    "Okay genius, tell me what other factors would reduce the price of oil. "

    No response from you.

    "Simple fact of the matter is that offshore is immaterial. There is no way with the increase in supply that it could even match the increase in demand. A belief that increased drilling in such areas could potentially reduce prices is to defy reality. "

    No response from you.

    "Considering the majority of oil is used as a liquid fuel, more natural gas, coal and nuclear won't change the price of oil. Especially when the increase in demand is coming from non-US sources. "

    No response from you.

    What on EARTH makes you think you are winning here?
    Last edited by obvious Child; 06-20-10 at 09:17 PM.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

  9. #29
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    Re: Supply & Demand

    Quote Originally Posted by Your Star View Post
    Doesn't matter, I didn't even know this was about oil until someone told me, and it still doesn't matter. It still is a simple right or wrong economic question. It's a type of question I answered in my first week of AP Economics last year.

    I'm guessing you still don't know what ceteris paribus means?
    For you it doesn't matter and that is fine.
    You've been here what... a month.

    I think it matters. Vive la difference mon cher.

    See, I know how Obvious Child operates.
    He ascribes words to people they never uttered.
    He mocks people for not answering questions they were never asked.
    He accuses others of running and hiding, and is a master at hide-and-seek.

    Now, what pray tell would Obvious Child have in mind with this poll?

    I think you answered it above YS.
    It's not about a simple question. What relevance does it have?

    .
    The Clintons are what happens...
    when you have NO MORAL COMPASS.

  10. #30
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    Re: Supply & Demand

    Quote Originally Posted by zimmer View Post
    For you it doesn't matter and that is fine.
    You've been here what... a month.
    Funny how she pegged you that quickly. What does that say?

    See, I know how Obvious Child operates.
    He ascribes words to people they never uttered.
    He mocks people for not answering questions they were never asked.
    He accuses others of running and hiding, and is a master at hide-and-seek.
    Why is that the only people who say that are those I regularly annihilate?

    Care to revisit this thread and highlight all of the questions you ran from? Hell, i did it last post. You ran from questions. I think from now on, every time you ignore a question, I'll keep posting to remind you that you ran away.

    Did you answer this one:
    "Okay genius, tell me what other factors would reduce the price of oil"

    No. You did not

    How about where I asked you how coal would reduce oil prices? Did you answer that one?

    No. You did not

    Who's lying now? You.

    Now, what pray tell would Obvious Child have in mind with this poll?
    That your position is insane on an economic basis of mere supply and demand.

    It's not about a simple question. What relevance does it have?
    Actually it is. There is insufficient additional supply to reduce prices at the rate demand and supply are growing. Therefore, your belief that additional drilling will reduce prices is nothing more then a fantasy not based in any real world situation.
    Last edited by obvious Child; 06-20-10 at 09:51 PM.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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