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Here in Sacramento, gas has dropped 50 cents a gallon in the past month. Yep, it's supply v. demand and nothing else.
maybe if you referred to the democrats as democraps you would be speaking his language.You talk about coherent posts and then talk about s and asses? I know you're in HS still, but I didn't know they gave the special ed kids internet access.
Here in Sacramento, gas has dropped 50 cents a gallon in the past month. Yep, it's supply v. demand and nothing else.
Not according to Buck Rogers it's not!
You guys complain about $3-4/gallon - ha! Here we pay $6/gallon, and in Europe they pay $6-10/gallon. Stop being so bloody complacent.
You might like to start thinking about the fact that every gallon you use is a gallon that will never exist again, and won't be there for anyone else ever to derive any benefit from. And every gallon you use is pushing the climate another microstep closer to its tipping point...
How about examining your lifestyle and finding ways to use less petrol? It will save you money, save oil for future generations, and save the environment from potential catastrophe.
I think I remember saying somewhere that gasoline was on a temporary high.
Scott could probably back this up, but from everything I had read, you had some supply constraints along with increased demand, forcing up the price for gas a bit more than ususal, along with an uptick in oil prices caused by Iran/US posturing (more uncertainty/risk=higher prices for anything, esp. oil)
Gas will likely stay around where they are now, possibly a bit lower for the next year or so, barring any military strike on Iran, or something equally "upsetting".
Over the long haul, they are about as low as they will ever be. I expect gas prices to go along with oil prices, to increase at a pace faster than overall inflation for the rest of my lifetime. Further, those increases will grow as time goes by, i.e. each year's increase in gas prices will almost alsways be a greater percentage than last year's increase.
We will become more efficient in terms of gasoline/oil usage, but those efficiency gains will be more than offset by declining production.
This would also tend to be a highly inflationary pressure over time. Even if the economy is somewhat in the doldrums, this will lead to upward pressures on interest rates. Not to say that interest rates won't drop, but they won't drop by as much as might be expected, and any increases will be higher than they would have otherwise.
Not a good recipe for strength in the real estate sector. Rising fuel prices will also seriously hamper the "sprawl" factor, as demand for those suburban houses is diminished by people wanting to live closer to work. US Cities will become denser over time.
(puts down crystal ball)
Just my thoughts.
My household is down 20% in energy use this year versus 2005. The biggest changes were replacing an 11-year-old truck with a smaller (C-size), fuel-efficient new car, and turning off the home computer when not in use.
What if everybody cut their energy consumption 20%?
10mpg....
Up here in the NE; it's getting down into the 50's and even 40's at night. BOTH of my neighbors are still running their AC's. I'm as conservative as they come, but that is some waste.
42% of non-braindead 'Mericans
Americans look for political manipulation as gasoline prices plunge
Posted 9/25/2006 7:01 PM
By Brad Foss, Associated Press
USA TodayWASHINGTON — There is no mystery or manipulation behind the recent fall in gasoline prices, analysts say. Try telling that to many. motorists.
Almost half of Americans believe the plunge at the pump has more to do with politics and the November elections, than economics.
Retired farmer Jim Mohr of Lexington, Ill., rattled off a tankful of reasons why pump prices may be falling, including the end of the summer travel season and the fact that no major hurricanes have disrupted Gulf of Mexico output.
"But I think the big important reason is Republicans want to get elected," Mohr, 66, said while filling up for $2.17 a gallon. "They think getting the prices down is going to help get some more in bents re-elected."
According to a new Gallup poll, 42% of respondents agreed with the statement that the Bush administration "deliberately manipulated the price of gasoline so that it would decrease before this fall's elections." Fifty-three percent of those surveyed did not believe the conspiracy theory; 5% said they had no opinion.
Probably 100% Democrat.
Ok, for all you people here who believe in this conspiracy - now's your chance to explain it. Michael Medved is tackling this topic right now and he wants those who believe in the conspiracy to give him a call. The phone number is 800-955-1776.
Er, Dan you might want to read the following article.
Opec considers drop in output
By Kevin Morrison and Javier Blas in London
Published: September 25 2006 20:10 | Last updated: September 25 2006 20:10
Oil exporting countries may consider a cut in output after crude prices fell below $60 a barrel on Monday for the first time in six months.
The decline came as global demand fell back from its mid-year peak and tensions over Iran eased.
Ministers from the Organisation of the Petroleum Exporting Countries are understood to be concerned about the drop in oil prices, which are down almost a quarter from their recent peaks.
They have discussed the prospect of trimming production ahead of the oil cartel’s next ministerial meeting in Nigeria in December, according to Opec officials.
The oil price fall over the past month has been accompanied by investor selling in oil and other commodity markets, mainly on concerns that economic growth in the US is slowing.
“There is a concern by hedge funds that oil and commodities are no longer the one-way bet they once were,” said an Opec official.
Brent, the European benchmark oil price, dropped 50 cents to $59.91 a barrel, down 24 per cent from its record peak of $78.40 reached last month.
The US benchmark oil price, West Texas Intermediate, yesterday hit $59.62, its lowest level since early March, before recovering to $60.54. It was flat on the day.
The WTI is now lower than the level it ended at last year. The magnitude of the decline in percentage terms is the largest in more than three years.
Investors have been selling out of oil futures over the past month, after taking bets earlier in the year on expectations of hurricanes disrupting oil supplies in the Gulf of Mexico.
But with the Atlantic hurricane season finishing at the end of September, there is little prospect of a repeat of last year’s devastating storms.
Opec is not only worried about investor activity in oil markets, but also about preserving high export prices, which underpin government budgets in member countries.
Many Opec producers have embarked on big spending programmes in recent years on the back of the higher oil price.
Opec maintained its quota of 28m barrels a day at its recent meeting in Vienna, and this is close to the cartel’s actual production last month.
Saudi Arabia, Opec’s linchpin member and the world’s largest oil exporter, has been cutting its output since the end of last year.
If Opec does trim its official production ceiling, it would be the first cut since December 2004, when oil prices were close to $42 a barrel.
Copyright The Financial Times Limited 2006
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Speaking of hedge funds:
The Hidden Dangers of High Returns
News this week that a 32 year old Canadian energy trader by the name of Brian Hunter recently lost approximately $5 Billion dollars in a period of only one week in the natural gas market caused an uproar on Wall Street.http://au.biz.yahoo.com/060920/36/wb6w.html
A new collossally risky way to shoot yourself in the foot to the tune of BILLIONS.
...in a great example of understatement, SEC Chairman Christopher Cox stated., “Big losses at Amaranth Advisors LLC demonstrate that investing in hedge funds can be risky”
(from same article)
Last edited by RandomGuy; 09-26-2006 at 03:16 PM. Reason: added a head exploding smiley
P.S.
They didn't fire the guy.
Pocketchange.
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