This certainly helps my “too many speculators are bad” theory.
Nothing has happened to change the supply or the demand, but prices are still going up up up based on news of what MIGHT happen in the future. Isn’t that the definition of speculation?
But yeah, speculation has nothing to do with oil going from $70 to $145.
what about all the oil under the ice :gotme:… … im just a ass today you dont need to respond
US oil reserves were lower than expected as well.
Plus, most of the business news from CNN, MSNBC, ect is water-downed bullshit fed to readers who will believe anything they read in the news.
When you take the time to read the reports yourself, you see how the journalists always focus on the simplest aspect and write about that.
something big is going to happen very soon. it will change alot. idk if it will be good or bad but i can see it coming.
I am with you. Though I know it is bad.
Getting ready for a storm.
I wish this thread had prerequisites to post. Just sayin some economics could really help some of you out. Just sayin. :tinfoilhat: :beer2:
Mathematically explains how oil production has to go down either now or in the near future.
(it is a segment of a longer lecture on exponential growth)
Oil prices fell more than $4 a barrel on Monday as traders returning from the holiday weekend reacted to a stronger dollar and an apparent lessening of fears about Mideast tension.
Light sweet crude for August delivery fell $4.22 to $141.07
:bigclap:
^ Just a fluctuation at this point. Lets see it hold that decrease, and repeat it for a few days.
now with the movement few months ago why have we been holding at 4.20-4.26 at the pump? and not going all over the place …
^^ exactly how i have looked at this situation all the way through…
it has nothing to do with the price of barrels of oil, it has to do with the CONCEPT of supply and demand, but there isnt a shortage! we are just getting bent over
if oil had really been going up at the rate it did, why did gas stay the same for multiple weeks?
Oil is a raw material for refined gas. Not the product itself. When the price of metal goes up, it doesn’t immediately effect the price of cars, but sooner or later, it will.
looking for a large post from jays…to help me out here
No need, Joe’s two sentence one pretty much explains it.
http://money.cnn.com/2008/07/08/markets/oil/index.htm?postversion=2008070810
Another big drop today. Almost $5 so far.
nice, hopefully my usual gas station will bring prices back down to $3.95/gallon. I was starting to worry when it hit 3.99
that $.04 per gallon must be killing you LOL
Damn, down $6 now.
here’s hoping for sub $3.90 for premium, thats only a 20 cent drop…