|Elflocko| Posted May 6, 2011 Report Share Posted May 6, 2011 [quote name='Go Skins' timestamp='1304696978' post='991289'] Oil dropped 8% yesterday.....below $100 a barrel. If this holds, prices should drop all over the place. [/quote] You're so cute when you're optimistic. $3 is the new $2.... Link to comment Share on other sites More sharing options...
Jamie_B Posted May 6, 2011 Report Share Posted May 6, 2011 [quote name='Go Skins' timestamp='1304696978' post='991289'] Oil dropped 8% yesterday.....below $100 a barrel. If this holds, prices should drop all over the place. [/quote] dont bet on it, the oil companies are making money hand over fist, why would they stop that? Link to comment Share on other sites More sharing options...
Go Skins Posted May 6, 2011 Report Share Posted May 6, 2011 [quote name='Jamie_B' timestamp='1304697999' post='991298'] dont bet on it, the oil companies are making money hand over fist, why would they stop that? [/quote] Wishful thinking? Link to comment Share on other sites More sharing options...
Jamie_B Posted May 6, 2011 Report Share Posted May 6, 2011 [quote name='Go Skins' timestamp='1304698086' post='991299'] Wishful thinking? [/quote] On your part. I remember when I was working down the street we had a group of people come to those buildings protesting exxon, but by that time exxon had moved those offices off that site so they were protesting nothing. Link to comment Share on other sites More sharing options...
sois Posted May 6, 2011 Report Share Posted May 6, 2011 Stupid inelastic gas. Link to comment Share on other sites More sharing options...
Orange 'n Black Posted May 6, 2011 Report Share Posted May 6, 2011 http://oilandglory.foreignpolicy.com/posts/2011/05/05/the_weekly_wrap_may_5_2011 Oil commodities bubble burst - it had more to do with traders and speculators than the oil companies themselves. Too bad they didn't crash the market harder. Link to comment Share on other sites More sharing options...
Jamie_B Posted May 6, 2011 Report Share Posted May 6, 2011 [quote name='Orange 'n Black' timestamp='1304702476' post='991324'] http://oilandglory.foreignpolicy.com/posts/2011/05/05/the_weekly_wrap_may_5_2011 Oil commodities bubble burst - it had more to do with traders and speculators than the oil companies themselves. Too bad they didn't crash the market harder. [/quote] I agree re: the speculators but it doesnt address that as long as they can get away with it the oil companies will continue to charge what they can. Link to comment Share on other sites More sharing options...
sois Posted May 6, 2011 Report Share Posted May 6, 2011 [quote name='Jamie_B' timestamp='1304703262' post='991336'] I agree re: the speculators but it doesnt address that as long as they can get away with it the oil companies will continue to charge what they can. [/quote] Is that bad? Maybe if you're communist. Link to comment Share on other sites More sharing options...
Orange 'n Black Posted May 6, 2011 Report Share Posted May 6, 2011 [quote name='Jamie_B' timestamp='1304703262' post='991336'] I agree re: the speculators but it doesnt address that as long as they can get away with it the oil companies will continue to charge what they can. [/quote] True; I wonder what the situation would be if speculation was not an issue. Before this bubble gas was around $2.75, which is higher than I'd like but in the reasonable ballpark. Either way, commodity speculation is a fucking disease. Link to comment Share on other sites More sharing options...
Jamie_B Posted May 6, 2011 Report Share Posted May 6, 2011 [quote name='Orange 'n Black' timestamp='1304703803' post='991339'] True; I wonder what the situation would be if speculation was not an issue. Before this bubble gas was around $2.75, which is higher than I'd like but in the reasonable ballpark. [color="#FF0000"]Either way, commodity speculation is a fucking disease.[/color] [/quote] Indeed. Link to comment Share on other sites More sharing options...
Go Skins Posted May 7, 2011 Report Share Posted May 7, 2011 http://washingtonexaminer.com/news/2011/05/gas-prices-expected-drop-50-cents-summer?utm_source=feedburner+dcexaminer%2FApContentFeed&utm_medium=feed+AP+Content+Feed&utm_campaign=Feed%3A+dcexaminer%2FApContentFeed+%28AP+Content+Feed%29feed&utm_content=Twitterfeed&utm_term=Twitterfeed Some relief from suffocating gas prices will likely arrive just in time for summer vacation. Expect a drop of nearly 50 cents as early as June, analysts say. After rocketing up 91 cents since January, including 44 straight days of increases, the national average this past week stopped just shy of $4 a gallon and has retreated to under $3.98. A steady decline is expected to follow. It might not be enough to evoke cheers from people who recall gas stations charging less than $3 a gallon last year. But it would still ease the burden on drivers. And it might help lift consumer spending, which powers about 70 percent of the economy. A 50-cent drop in prices would save U.S. drivers about $189 million a day. Typically, gas prices peak each spring, then fall into a summertime swoon that can last several weeks. This year's decline should be gradual but steady, said Fred Rozell, the retail pricing director at the Oil Price Information Service. Some drivers might not notice much of a price drop at first, Rozell cautioned. When average gas prices fluctuate nationally, some areas are affected more than others. In cities with many service stations, for instance, prices can be slower to fall. It's even possible prices will rise at some stations in coming days even if they decline nationally. And after the galloping surge in prices this year, many gas station owners are reluctant to lower prices until they see their competition doing the same, Rozell said. "It's just the nature of the business," he said. "They're going to try to get the most they can." Station owners still feel bruised from their own higher costs earlier this year. In some cases, their suppliers raised prices so quickly that station owners couldn't pass along those higher costs to consumers fast enough. Competition also makes it hard for some stations to raise prices. "So station owners will be watching each other this summer," Rozell said. "When one guy drops, so will the other." A drop in prices would take some pressure off struggling consumers as well as businesses. As prices soared this year, surveys showed that motorists started to drive less. MasterCard SpendingPulse said this past week that it had recorded its sixth straight week of declining gasoline consumption. That's a cautionary sign for the economy, because most drivers conserve fuel only after curbing spending on other discretionary items like furniture, computers and vacations. Over the past month, gas prices have risen 36 cents a gallon in Columbus, Ohio, to $4.10. Steve Garrett has felt it. He's scrapped a summer trip to Myrtle Beach, Fla. And the bakery distribution center where he works has begun closing sites and laying off staff to save fuel on bread and pastry shipments. If prices fall fast enough, Garrett, 43, said he may think about another vacation in August. "But right now, I'm still just scared about the economy," he said. "I still might lose my job." This past week, a confluence of factors stemmed the rise in gasoline prices. Oil, which is used to make gasoline, tumbled 15 percent in price. Investors who were worried about rising oil supplies and falling gasoline demand in the United States helped drive down the price. Oil prices were also responding to a rising dollar. Oil is priced in dollars. So a stronger dollar makes oil less appealing to people buying with foreign currencies. Read more at the Washington Examiner: http://washingtonexaminer.com/news/2011/05/gas-prices-expected-drop-50-cents-summer?utm_source=feedburner+dcexaminer%2FApContentFeed&utm_medium=feed+AP+Content+Feed&utm_campaign=Feed%3A+dcexaminer%2FApContentFeed+%28AP+Content+Feed%29feed&utm_content=Twitterfeed&utm_term=Twitterfeed#ixzz1LhjYO88V Link to comment Share on other sites More sharing options...
-GoBengals- Posted May 8, 2011 Report Share Posted May 8, 2011 [quote name='sois' timestamp='1304703712' post='991338'] Is that bad? Maybe if you're communist. [/quote] electricity and water aren't this way, at least not NEARLY to this extreme... why does gas get a pass? though i am about to start spending more on water a month than i will on gas for my house and car combined, that because i live in the desert.. its a price fixing monopoly..... how is that ok exactly? full electric cars arent economical to buy, there is no competition in them...and arent really an option at all for 80% of people.. you are stuck/forced to buy X amount of gas no matte what... doesnt mean the raping should be so public and painful for everyone.... but everyone involved id getting paid off .... its not like people are concerned with the price of Evian premium bottled water here... Link to comment Share on other sites More sharing options...
sois Posted May 8, 2011 Report Share Posted May 8, 2011 Don't try to push your socialist regulations on me. If I own a gas company, nobody has a right to tell me what I can charge. Link to comment Share on other sites More sharing options...
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