fishnmagician Posted November 12, 2008 Report Share Posted November 12, 2008 did we start drilling offshore when I wasn't watching? Or is the gouging coming to an end because the Oil companies are afraid of a Democrat? Eggy 10-13 LAA 7-14 50-50 2-15 Link to comment Share on other sites More sharing options...
Wraith Posted November 12, 2008 Report Share Posted November 12, 2008 did we start drilling offshore when I wasn't watching? Or is the gouging coming to an end because the Oil companies are afraid of a Democrat? Yep, 'gouging', if a person seriously believes that, they are a fool. Well maybe not a 'fool', just clueless on how commodity pricing works. If not, then just a 'Troll'............................. * Link to comment Share on other sites More sharing options...
mikematt Posted November 12, 2008 Report Share Posted November 12, 2008 Gouging huh? Well then I assume big oil must have huge profit margins right? Especially compared to other industries, right? Nope. Link to comment Share on other sites More sharing options...
hispls Posted November 12, 2008 Report Share Posted November 12, 2008 Commodity prices are almost completely manipulated. *** does democrat have to do with that? About as much as they have to do with the price of tea in China. That being said, part of it is that the largest "consumer" of oil is the exchange. More barrels of oil are traded every day leveraged 10 to 1 that are never delivered, that never exist, than are used by China. Right now, cash is tight so there's not as many dollars chasing around big futures bubbles. Metals are low as they're being sold to cover margins. Link to comment Share on other sites More sharing options...
JimW Posted November 12, 2008 Report Share Posted November 12, 2008 Global demand collapsed. Gouging, as you call it, ceased when funds got out of long positions to collateralize others. Nice troll but I wouldn't get all warm and fuzzy about oil prices yet. For one thing they are just a sign of how bad the global economy is, and secondly, investement in production is severely constrained. Prices will go higher again. The present price structure only encourages storage as forward prices already pay you to do that. "I have ... put a lump of ice into an equal quantity of water ... if a little sea salt be added to the water we shall produce a fluid sensibly colder than the ice was in the beginning, which has appeared a curious and puzzling thing to those unacquainted with the general fact."- Joseph Black Link to comment Share on other sites More sharing options...
fishnmagician Posted November 12, 2008 Author Report Share Posted November 12, 2008 So we are drilling offshore then, right? I was told that was the ONLY solution.... gas is less than half the price it was not so long ago...... I was told there was NO manipulation in prices and it was all supply and demand.... demand dropped in half? Eggy 10-13 LAA 7-14 50-50 2-15 Link to comment Share on other sites More sharing options...
EBHarvey Posted November 12, 2008 Report Share Posted November 12, 2008 demand dropped in half? Kinda ignoring elasticity there aren't ya? I prefer peace. But if trouble must come, let it come in my time, so that my children can live in peace. Link to comment Share on other sites More sharing options...
Ditch Jigger Posted November 12, 2008 Report Share Posted November 12, 2008 The prices started coming down before Labor Day. At least in these parts. That was when McCain was ahead in the polls--just in case you think the bigwigs at Exxon/Mobil were watching and counting noses. "…if catching fish is your only objective, you are either new to the game or too narrowly focused on measurable results.” - D. Stuver Link to comment Share on other sites More sharing options...
Garv Posted November 12, 2008 Report Share Posted November 12, 2008 This is awful, we need to tax them more. How else are we going to train our citizens to use the fuels that the government specifies? GarvThe real measure of illiteracy in America should be the percentage of those who cannot read the writing on the wall Link to comment Share on other sites More sharing options...
JimW Posted November 12, 2008 Report Share Posted November 12, 2008 Oil prices are half so demand must be half? Rocket science! Production is less than it was at $147 There was probably $30-$50 bucks speculation at the height. This does not imply manipulation and eventually fundamentals will win out. At least when they need the cash to defend another position. "I have ... put a lump of ice into an equal quantity of water ... if a little sea salt be added to the water we shall produce a fluid sensibly colder than the ice was in the beginning, which has appeared a curious and puzzling thing to those unacquainted with the general fact."- Joseph Black Link to comment Share on other sites More sharing options...
Little Posted November 12, 2008 Report Share Posted November 12, 2008 This is awful, we need to tax them more. How else are we going to train our citizens to use the fuels that the government specifies? Falling Gas Prices Jump-Start GM SUV Sales Automaker Puts Texas Plant On Overtime Amid Other Closures Monday, November 10, 2008 Despite the down economy, falling gas prices have driven consumers back to the sport utility vehicles they once gave the cold shoulder. Video: Auto Crisis High On Obama AgendaWorkers at General Motor's Arlington, Texas, SUV assembly plant began working overtime this month and are scheduled to remain on overtime for the rest of the year.The plant, which employs 2,500 workers, is now the only GM factory building full-size sport utility vehicles like the Chevrolet Tahoe, GMC Yukon and Cadillac Escalade.Although sales of the vehicles are still down overall, they have rebounded in recent weeks as gas prices have fallen and cash-strapped automakers have slashed prices. The vehicles have proven to be a solid source of revenue for GM."We're still on overtime," plant spokeswoman Wendi Sabo told The Dallas Morning News. "Nothing has changed."GM is also placing a high-stakes bet on its SUV line overseas, opening a new $300 million plant Friday near St. Petersburg, Russia. “My happiness is not the means to any end. It is the end. It is its own goal. It is its own purpose.” Ayn Rand Link to comment Share on other sites More sharing options...
Wraith Posted November 12, 2008 Report Share Posted November 12, 2008 Kinda ignoring elasticity there aren't ya? It's easy to ignore what one does not understand................... * Link to comment Share on other sites More sharing options...
Garv Posted November 12, 2008 Report Share Posted November 12, 2008 Falling Gas Prices Jump-Start GM SUV Sales Automaker Puts Texas Plant On Overtime Amid Other Closures Monday, November 10, 2008 Despite the down economy, falling gas prices have driven consumers back to the sport utility vehicles they once gave the cold shoulder. Video: Auto Crisis High On Obama AgendaWorkers at General Motor's Arlington, Texas, SUV assembly plant began working overtime this month and are scheduled to remain on overtime for the rest of the year.The plant, which employs 2,500 workers, is now the only GM factory building full-size sport utility vehicles like the Chevrolet Tahoe, GMC Yukon and Cadillac Escalade.Although sales of the vehicles are still down overall, they have rebounded in recent weeks as gas prices have fallen and cash-strapped automakers have slashed prices. The vehicles have proven to be a solid source of revenue for GM."We're still on overtime," plant spokeswoman Wendi Sabo told The Dallas Morning News. "Nothing has changed."GM is also placing a high-stakes bet on its SUV line overseas, opening a new $300 million plant Friday near St. Petersburg, Russia. this is all working according to plan. Now what we need to do is Give them lots of bailout money to pay them not to create these gas guzzling monsters. GarvThe real measure of illiteracy in America should be the percentage of those who cannot read the writing on the wall Link to comment Share on other sites More sharing options...
The Dude Posted November 12, 2008 Report Share Posted November 12, 2008 It's easy to ignore what one does not understand................... Speaking from experience? Link to comment Share on other sites More sharing options...
Gamakatsu Posted November 12, 2008 Report Share Posted November 12, 2008 The banks and the oil companies have a long memory. You could buy all the drilling equipment you wanted for pennies on the dollar during the late 80's. Anybody here willing to invest in petroleum extraction or exploration? BTW, $1.99 today. Link to comment Share on other sites More sharing options...
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