Gas Prices

av8torntn

av8torntn

Well-Known Member
UpstateNYUPSer said:
So it has nothing to do with speculators?
Click to expand...

Speculation tends to cause price stability.




"In general, commodities speculation is a good thing. For any given commodity at any given time, there’s always someone who wishes the price were either higher or lower and that person tends to complain about speculators. But if you constantly had to pay the spot price for everything, prices would be more unstable and ordinary households and firms would need to spend more time stockpiling goods to hedge against price fluctuations."-Yglesias
 
wkmac

wkmac

Well-Known Member
The Other Side said:
LIke I said weeks ago on this board, and was said today in the senate. The oil companies have reduced PRODUCTION at the refineries to 83% down 6% over a year ago just to manipulate oil prices.

Production is down almost 27% from the GW BUSH years. Manipulation of refining is the biggest cause of fuel prices at the pump.

Everything else is all B.S. or in other words FOXED.

Peace.
Click to expand...

A bit of a historical perspective circa 1977', you might find this piece of interest as it pertains to the oil industry cutting refining inventories to affect price.
 
wkmac

wkmac

Well-Known Member
The Other Side said:
Great link. It hits the nail on the head. People need to wake up and learn.

Peace.
Click to expand...

If you liked that and appreciate a good laugh eg british humor at the same time, you might also enjoy Robert Newman's "The History of Oil". He uses the 1999' book "Marching to the Drums" as a launching point and from there goes through the 100 year history of Anglo-American geo-politics as it surrounds the oil industry. The History of Oil is around 45 minutes long and IMO worth the view and you'll have many laughs to boot!

:peaceful:
 
Babagounj

Babagounj

Strength through joy
Obama gas station in Columbia raising eyebrows

COLUMBIA, SC (WIS) - A gas station on Columbia's North Main Street has been renamed and redecorated after President Obama.
Two gas stations sit at the corner of Columbia's North Main Street and Prescott Road, the El Cheapo and another station with a new name -- Obama.
One that's great for frequent customers like Larry Nelson, who says his stops here more often because of the president's picture. "I feel like it does support him by coming here," said Nelson.
 
Babagounj

Babagounj

Strength through joy
Buy American Cars? Not in San Francisco


On April 29, the last domestic car dealership within city limits, San Francisco Ford Lincoln, closed its showroom doors and began winding down its repair and service operations, according to the San Francisco Chronicle. Business had fallen off so much over the past few years that Ford Motor Co. itself had taken over the operation from its previous owner, but even support from the mother ship couldn’t keep it afloat.
Foreign automakers, including BMW, Honda, Scion and Smart, all continue to run what appear to be thriving dealerships in the area, as San Franciscans increasingly pledge their allegiance to import brands. Even the site of the last General Motors dealership to shut down in the city -- Ellis Brooks Chevrolet – is soon to be the home of a new mega-showroom for Nissan/Infiniti.

​
 
Babagounj

Babagounj

Strength through joy
Senate rejects GOP bill to expand, speed up offshore drilling


By Ben Geman - 05/18/11 02:58 PM ET
The Senate on Wednesday rejected Republican-backed legislation intended to speed up and expand offshore oil and gas drilling.
In a 42-57 vote, the Senate failed to move forward with the bill, which was opposed by the White House and most Senate Democrats. Republicans needed 60 votes for the measure to proceed.
Every Senate Democrat voted against the motion to proceed along with five Republicans: Sens. Jim DeMint (S.C.), Mike Lee (Utah), Richard Shelby (Ala.), Olympia Snowe (Maine) and David Vitter (La.).
The legislation – which is similar to bills the House approved in recent weeks – would set deadlines for several upcoming Gulf of Mexico lease sales.

It also would require lease sales off the coasts of Alaska and Virginia that the Interior Department had canceled following last year's oil spill.In addition, it would require the Interior Department to approve or deny offshore drilling permit applications within 60 days of filing, or the permits would be automatically approved.
http://thehill.com/blogs/e2-wire/67...-rejects-gop-bill-to-expand-offshore-drilling
 
moreluck

moreluck

golden ticket member
Baba gounj said:
Senate rejects GOP bill to expand, speed up offshore drilling


By Ben Geman - 05/18/11 02:58 PM ET
The Senate on Wednesday rejected Republican-backed legislation intended to speed up and expand offshore oil and gas drilling.
In a 42-57 vote, the Senate failed to move forward with the bill, which was opposed by the White House and most Senate Democrats. Republicans needed 60 votes for the measure to proceed.
Every Senate Democrat voted against the motion to proceed along with five Republicans: Sens. Jim DeMint (S.C.), Mike Lee (Utah), Richard Shelby (Ala.), Olympia Snowe (Maine) and David Vitter (La.).
The legislation – which is similar to bills the House approved in recent weeks – would set deadlines for several upcoming Gulf of Mexico lease sales.

It also would require lease sales off the coasts of Alaska and Virginia that the Interior Department had canceled following last year's oil spill.In addition, it would require the Interior Department to approve or deny offshore drilling permit applications within 60 days of filing, or the permits would be automatically approved.
http://thehill.com/blogs/e2-wire/67...-rejects-gop-bill-to-expand-offshore-drilling
Click to expand...

Does this involve the same Democrats that Nancy Pelosi was boasting about wanting to drill all along?? It's an act!!!
 
klein

klein

Für Meno :)
Gas prices fell here, again, by 8 cents a liter (30 cents/gallon).
Pretty unusual for prices to drop just before a long weekend (Victoria Day, Monday).
 
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