Oil Thread 12/11/06 DRIVE FOR $5 IS DEAD

[dmcowen674]

Originally posted by: blackllotus

Originally posted by: blackangst1

Originally posted by: dmcowen674

Originally posted by: crownjules

Originally posted by: dmcowen674
Please explain why gas prices continue to rise when Oil inventories are through the roof?

Easy. You posted it last week. Two refineries shut down, including the largest in the US. All the oil in the world won't help you if you can't refine it into a useable product (in this case gasoline).

The old Refinery excuse.

Not working bud, show me gas stations out of gas.

Dave. What part of supply and demand do you not understand? The supply part?

Maybe he doesn't get how mere supply and demand can cause the price to jump over 50% in one year.

Can you explain what caused the jump a year or two ago from $2 a gallon to over $3 a gallon?

Since supply and demand are the only factors, please point out the extreme shortage/demand increase that occured to cause a 50% increase in prices.

Originally posted by: jrenz
Armed conflict, political uncertainty, OPEC, etc.

See, they want it both ways.

They are full of crap and they don't like it that the Sheeple are waking up to it.

 

[JD50]

Originally posted by: dmcowen674

Originally posted by: blackllotus

Originally posted by: blackangst1

Originally posted by: dmcowen674

Originally posted by: crownjules

Originally posted by: dmcowen674
Please explain why gas prices continue to rise when Oil inventories are through the roof?

Easy. You posted it last week. Two refineries shut down, including the largest in the US. All the oil in the world won't help you if you can't refine it into a useable product (in this case gasoline).

The old Refinery excuse.

Not working bud, show me gas stations out of gas.

Dave. What part of supply and demand do you not understand? The supply part?

Maybe he doesn't get how mere supply and demand can cause the price to jump over 50% in one year.

Can you explain what caused the jump a year or two ago from $2 a gallon to over $3 a gallon?

Since supply and demand are the only factors, please point out the extreme shortage/demand increase that occured to cause a 50% increase in prices.

Originally posted by: jrenz
Armed conflict, political uncertainty, OPEC, etc.

See, they want it both ways.

They are full of crap and they don't like it that the Sheeple are waking up to it.

Are you really this dumb? Guess what "Armed conflict, political uncertainty, OPEC, etc" effects?

DING DING DING, supply.

 

[BDawg]

But I thought that gas prices had to stay high because the demand has grown so much in China and India. Has their demand dropped permanently for no reason?

Oil and gas are definitely fixed.

 

[dmcowen674]

Originally posted by: JD50

Originally posted by: dmcowen674

Originally posted by: blackllotus

Originally posted by: blackangst1

Originally posted by: dmcowen674

Originally posted by: crownjules

Originally posted by: dmcowen674
Please explain why gas prices continue to rise when Oil inventories are through the roof?

Easy. You posted it last week. Two refineries shut down, including the largest in the US. All the oil in the world won't help you if you can't refine it into a useable product (in this case gasoline).

The old Refinery excuse.

Not working bud, show me gas stations out of gas.

Dave. What part of supply and demand do you not understand? The supply part?

Maybe he doesn't get how mere supply and demand can cause the price to jump over 50% in one year.

Can you explain what caused the jump a year or two ago from $2 a gallon to over $3 a gallon?

Since supply and demand are the only factors, please point out the extreme shortage/demand increase that occured to cause a 50% increase in prices.

Originally posted by: jrenz
Armed conflict, political uncertainty, OPEC, etc.

See, they want it both ways.

They are full of crap and they don't like it that the Sheeple are waking up to it.

Are you really this dumb?

Guess what "Armed conflict, political uncertainty, OPEC, etc" effects?

DING DING DING, supply.

Hello???

DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.

14 of them.

So explain the "supply" problem again, I am dumb remember.

 

[Vic]

Originally posted by: dmcowen674

10/31Jumped 10 cents here overnight.

11/07$2.14 to $2.34 jump here today.

11/14 Climbing back towards $2.50 here steadily everyday.
11/14 Up nearly 30 cents here since the Election, climbing towards $2.50 steadily everyday. 2 or 4 cent increase everyday.

11/18 Up 9 cents today to $2.29

11/20 and gas prices went up another 10 cents today.

12/07 Back up to $2.30 a gallon her and climbing everyday.

 

[EagleKeeper]

Originally posted by: dmcowen674
So explain the "supply" problem again, I am dumb remember.

Perception of supply of the commodity causes speculation in the prices dependent on the commodity.
Perception of the supply of a commodity causes speculation in the prices of that commodity.

 

[jrenz]

Originally posted by: dmcowen674

Hello???

DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.

14 of them.

So explain the "supply" problem again, I am dumb remember.

Yeah, you are.

Something could happen tomorrow which would effect our supply. Maybe terrorists blow up an oil pipieline, or an oil freighter, or some government is overthrown and oil production stops, etc, etc, etc. Our inventory is high so that we have oil to protect against events like these, but it doesn't last long.

DING DING DING, You win the "I'm a retard" medal! DURR!

 

[dmcowen674]

Originally posted by: jrenz

Originally posted by: dmcowen674

Hello???

DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.

14 of them.

So explain the "supply" problem again, I am dumb remember.

Yeah, you are.

Something could happen tomorrow which would effect our supply.

Maybe terrorists blow up an oil pipieline, or an oil freighter, or some government is overthrown and oil production stops, etc, etc, etc. Our inventory is high so that we have oil to protect against events like these, but it doesn't last long.

DING DING DING, You win the "I'm a retard" medal! DURR!

Yes and tomorrow the sun may not shine and there may not be any blue sky. :roll:

 

[JD50]

Originally posted by: jrenz

Originally posted by: dmcowen674

Hello???

DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.

14 of them.

So explain the "supply" problem again, I am dumb remember.

Yeah, you are.

Something could happen tomorrow which would effect our supply. Maybe terrorists blow up an oil pipieline, or an oil freighter, or some government is overthrown and oil production stops, etc, etc, etc. Our inventory is high so that we have oil to protect against events like these, but it doesn't last long.

DING DING DING, You win the "I'm a retard" medal! DURR!

HAHA, I almost choked on my lunch.

And of course, my favorite quote of the day by Dave, "I am dumb"

 

[jrenz]

Originally posted by: dmcowen674

Originally posted by: jrenz

Originally posted by: dmcowen674

Hello???

DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.
DING DING DING, supply at record high 14 yr inventory.

14 of them.

So explain the "supply" problem again, I am dumb remember.

Yeah, you are.

Something could happen tomorrow which would effect our supply.

Maybe terrorists blow up an oil pipieline, or an oil freighter, or some government is overthrown and oil production stops, etc, etc, etc. Our inventory is high so that we have oil to protect against events like these, but it doesn't last long.

DING DING DING, You win the "I'm a retard" medal! DURR!

Yes and tomorrow the sun may not shine and there may not be any blue sky. :roll:

Or even more unlikely still, you may actually a question or two rather than ducking out whenever you are challenged.

 

[Strk]

Originally posted by: SSSnail
Yesterday filled up for $2.35/gal. Today AM @ $2.40/gal.

Edit: I keep seeing these "supply and demand" arguments just keep popping up. You're telling me that there are twice the amount of cars out there on the road as there were a few years ago?

Based on my limited understanding of the subject, and a novice in the oil prodution field as some of the experts around here, I failed to grasp that concept. The supply and demand cycle is the same every year, that much I understand. What I don't understand is why I'm paying double the price versus that of a few years ago?

Only around 50% of the oil we need is used in cars.

And I don't know how many times I have to say it, but it's mostly our own damn fault. As a country, we demand nearly twice as much per capita than any other developed country.

 

[crownjules]

A lot of this boils down to one thing alone: ignorance. I wish I could succinctly explain the futures market. This is where the price of oil is determined. OPEC, Exxon, Joe the gas station owner, SUV driving Molly - they can only do so much to effect the price. It is the expectations of the oil speculators (traders) and how they interpret news of supply and demand that sets the price.

Maybe, for everyone's benefit, I'll take some time to write up how the future markets operate - just as an FYI. I don't know if anyone other then me has experience with them and would do a better job, but some explanation is better than none.

 

[blackangst1]

Originally posted by: crownjules
A lot of this boils down to one thing alone: ignorance. I wish I could succinctly explain the futures market. This is where the price of oil is determined. OPEC, Exxon, Joe the gas station owner, SUV driving Molly - they can only do so much to effect the price. It is the expectations of the oil speculators (traders) and how they interpret news of supply and demand that sets the price.

Maybe, for everyone's benefit, I'll take some time to write up how the future markets operate - just as an FYI. I don't know if anyone other then me has experience with them and would do a better job, but some explanation is better than none.

Crowd dont bother. Most of us get it, but Dave still thinks oil and gas is price fixed by...what were those terms he used...oil barons and gas/oil robbers LOL

 

[SSSnail]

Originally posted by: bobdelt

Originally posted by: SSSnail
Yesterday filled up for $2.35/gal. Today AM @ $2.40/gal.

Edit: I keep seeing these "supply and demand" arguments just keep popping up. You're telling me that there are twice the amount of cars out there on the road as there were a few years ago?

Based on my limited understanding of the subject, and a novice in the oil prodution field as some of the experts around here, I failed to grasp that concept. The supply and demand cycle is the same every year, that much I understand. What I don't understand is why I'm paying double the price versus that of a few years ago?

Because there has been a tremendous increase in demand for gasoline worldwide from the emerging markets, i.e. china.

Also, the dollar is less valuable than it was a few years ago... less value= less oil = higher price for the same quantity of gasoline.

Gas companies are spending more on alternative energy sources, increased R&D expenses, OPEC cut production, violence around the world, pipelines bursting... there are tons of reasons why gas would increase.

Granted that the dollar has lost significant values within the last few years, it didn't lose 50% of its value. There are not less oil, that is patently false. Consumption level has not been doubled.

I think gas/oil companies are not really spending that much money into R&D for alternative energy sources. I do see them spend money on impeding the process through lobbying, and commercials in trying to deceive the public into voting to stop government from spending money on alternative energy research initiatives (last California election).

Only around 50% of the oil we need is used in cars.

Again, that has always been the percentage of oil consumption for years now. Simple logics dictate that the prices we're seeing shouldn't be.

I'm just speaking from a consumer perspective, in what "still" is the greatest country to live (and I used "still" losely). Some may say that "...well, look at other countries and see what they're paying", that maybe true, however that's not what we're striving to be. There are a certain priviledges that are assumed when you're the leader of the free world. We are entitled to them since we do spend an exhorbitant amount of money upkeeping the world, they do owe us something. (Isn't that what we're doing?)

I can use the same circular logic as anyone else, and we'll never get anywhere. Not saying what I just posted represented my best opinion, just to show what different lines of thinking provokes. I'll stop now.

 

[CPA]

Originally posted by: blackangst1

Originally posted by: crownjules
A lot of this boils down to one thing alone: ignorance. I wish I could succinctly explain the futures market. This is where the price of oil is determined. OPEC, Exxon, Joe the gas station owner, SUV driving Molly - they can only do so much to effect the price. It is the expectations of the oil speculators (traders) and how they interpret news of supply and demand that sets the price.

Maybe, for everyone's benefit, I'll take some time to write up how the future markets operate - just as an FYI. I don't know if anyone other then me has experience with them and would do a better job, but some explanation is better than none.

Crowd dont bother. Most of us get it, but Dave still thinks oil and gas is price fixed by...what were those terms he used...oil barons and gas/oil robbers LOL

ie. Republicans

 

[Vic]

Damnit, now I'll never get a DRIVE FOR FIVE bumper sticker.

 

[1EZduzit]

Originally posted by: crownjules
A lot of this boils down to one thing alone: ignorance. I wish I could succinctly explain the futures market. This is where the price of oil is determined. OPEC, Exxon, Joe the gas station owner, SUV driving Molly - they can only do so much to effect the price. It is the expectations of the oil speculators (traders) and how they interpret news of supply and demand that sets the price.

Maybe, for everyone's benefit, I'll take some time to write up how the future markets operate - just as an FYI. I don't know if anyone other then me has experience with them and would do a better job, but some explanation is better than none.

I think that if it wasn't for the futures market the prices would be much more stable. Right now if some bad news hits the market any old fool can get in the market and sell something he doesn't even have. It has nothing to do with the actual supply or demand, it has to do with FEAR and fear is a commodity that CAN be manipulated.

 

[TheSlamma]

$2.02 at Mississippi and Parker... up $.03 since I posted about a month ago

 

[blackangst1]

Originally posted by: CPA

Originally posted by: blackangst1

Originally posted by: crownjules
A lot of this boils down to one thing alone: ignorance. I wish I could succinctly explain the futures market. This is where the price of oil is determined. OPEC, Exxon, Joe the gas station owner, SUV driving Molly - they can only do so much to effect the price. It is the expectations of the oil speculators (traders) and how they interpret news of supply and demand that sets the price.

Maybe, for everyone's benefit, I'll take some time to write up how the future markets operate - just as an FYI. I don't know if anyone other then me has experience with them and would do a better job, but some explanation is better than none.

Crowd dont bother. Most of us get it, but Dave still thinks oil and gas is price fixed by...what were those terms he used...oil barons and gas/oil robbers LOL

ie. Republicans

Link?

Ah. Thought not. More conspiracy thoeries.

 

[blackangst1]

Originally posted by: 1EZduzit

Originally posted by: crownjules
A lot of this boils down to one thing alone: ignorance. I wish I could succinctly explain the futures market. This is where the price of oil is determined. OPEC, Exxon, Joe the gas station owner, SUV driving Molly - they can only do so much to effect the price. It is the expectations of the oil speculators (traders) and how they interpret news of supply and demand that sets the price.

Maybe, for everyone's benefit, I'll take some time to write up how the future markets operate - just as an FYI. I don't know if anyone other then me has experience with them and would do a better job, but some explanation is better than none.

I think that if it wasn't for the futures market the prices would be much more stable. Right now if some bad news hits the market any old fool can get in the market and sell something he doesn't even have. It has nothing to do with the actual supply or demand, it has to do with FEAR and fear is a commodity that CAN be manipulated.

Uh...I think you need a refresher course on commodities trading as well I say that in the kindest way...

 

[EagleKeeper]

Originally posted by: Vic
Damnit, now I'll never get a DRIVE FOR FIVE bumper sticker.

Dave has them already printed up

It may cost you $5 for one though

 

[ECUHITMAN]

I don't know but IMO this entire thread could be considered a:

PERSONAL FLAMES

which

WILL NOT BE TOLERATED.

Anyway, back to the debate. It seems a lot of you are looking at the very short term outlook. Oil prices go up and down all the time. Gas prices at the pump go up and down all the time. The price of Oil has been going up for the past 20 years. If you disagree please post a link showing that oil prices have gone down or remained the same, otherwise we will assume that most of you agree that it has going up.

If supply over the past 20 years has remained the same, and demand has increased (which it has) that would attribute to the increase in price. But has demand increased so much that it accounts for the steep rise over the past 5 years? Again if someone could get a chart of oil prices over 20 years I am sure this will be obvious. Look you can argue point for counter point about one or another cause, but in the end the prices have gone up and it 'seems' to be at a higher rate than the increase in demand.

On a side note, personally if it wouldn't destroy the American (world) economy I would love gas prices to go up to $5 because maybe then people would force governments and industry to find reasonable alternatives and distribute them (it) accordingly.

 

[EagleKeeper]

Originally posted by: ECUHITMAN
I don't know but IMO this entire thread could be considered a:

PERSONAL FLAMES

which

WILL NOT BE TOLERATED.

The implied person has continually exposed himself for such types of attacks and would seem to thereby have waived immunity from attacks that are not directly personal.

 

[Aimster]

Cost me $75 to fill up in the summer

Now it is $50

That's $100 every month saved

 

[jrenz]

Originally posted by: Aimster
Cost me $75 to fill up in the summer

Now it is $50

That's $100 every month saved

It costs me about $500 every time I fill up my cement truck. I only drive that on the weekends though.