$2.27 this morning. Thanks, Karl Rove!!
I filled up for 2.49 yesterday. That’s 60 cents a gallon cheaper than a month ago.
The new find in the Gulf can’t be anything but good for the US. I could really give a shit what a professional spammer thinks about the situation.
[quote]doogie wrote:
$2.27 this morning. Thanks, Karl Rove!![/quote]
Thank the American public as consumption is down as a result of the ‘high’ gas prices.
[quote]rainjack wrote:
I filled up for 2.49 yesterday. That’s 60 cents a gallon cheaper than a month ago.
The new find in the Gulf can’t be anything but good for the US. I could really give a shit what a professional spammer thinks about the situation. [/quote]
Show me where I said that this was a bad thing.
Why would oil companies have any reason to reduce profits based on an oil discovery that will not be available for 5 years?
[quote]Marmadogg wrote:
rainjack wrote:
I filled up for 2.49 yesterday. That’s 60 cents a gallon cheaper than a month ago.
The new find in the Gulf can’t be anything but good for the US. I could really give a shit what a professional spammer thinks about the situation.
Show me where I said that this was a bad thing.
Why would oil companies have any reason to reduce profits based on an oil discovery that will not be available for 5 years?[/quote]
You are the one that harps on supply and demand. Price is elastic if you believe that. If there is a glut of gasoline - the prices will go down, as you see happening now.
If the oil companies want to maintain their profit margin as you suggest, they would have to do so via reducing inputs, or jacking the prices for other petroleum products.
I haven’t received my daily onslaught of “buy my stock” emails yet today…did you finally take my email addy off your spam list?
[quote]rainjack wrote:
You are the one that harps on supply and demand. Price is elastic if you believe that. If there is a glut of gasoline - the prices will go down, as you see happening now.[/quote]
Are you saying that current gasoline prices at the pump reflect untapped discoveries?
World wide cosumption will increase over time and that will keep oil prices trending up.
I am not involved in the sell side or the secondary equity market nor any equity market unless you consider converatble bonds to be part of the equity market.
[quote]Marmadogg wrote:
rainjack wrote:
You are the one that harps on supply and demand. Price is elastic if you believe that. If there is a glut of gasoline - the prices will go down, as you see happening now.
Are you saying that current gasoline prices at the pump reflect untapped discoveries?[/quote]
Not directly. Especially not right now. But with the speculative nature of commodities - with which you admit to not being involved - more reserves correlate to lower crude prices, and that is reflected in the cost of unleaded.
You seem to want to talk out of both sides of your mouth by saying that it is all about supply and demand, but at the same time saying that oil companies’ profits will stay constant.
World demand has absolutely nothing to do with a domestic gasoline glut that we have right now - which is the reason for the steep decrease in pump prices. The profit made on the next dollar of gasoline sold will be less than the previous if prices continue to fall. As result - oil profits will fall until the glut is gone - probably around the first of December.
This is assuming that most allof the speculation in the commodities market has been removed. It hasn’t. Crude will stabilize around 45-55 bucks per barrel - like Hedo says.
And I am not a “chemical dealer” as you imply. But that hasn’t stopped you, has it?
[quote]rainjack wrote:
And I am not a “chemical dealer” as you imply. But that hasn’t stopped you, has it?[/quote]
Yes you are.
[quote]Marmadogg wrote:
rainjack wrote:
And I am not a “chemical dealer” as you imply. But that hasn’t stopped you, has it?
Yes you are.[/quote]
Your stupidity is astounding.
[quote]rainjack wrote:
Marmadogg wrote:
rainjack wrote:
And I am not a “chemical dealer” as you imply. But that hasn’t stopped you, has it?
Yes you are.
Your stupidity is astounding.[/quote]
That is ironic coming from someone that thinks a drug addict that ruined his hearing from taking drugs should be president.
Man, oil prices are dropping pretty quickly these days… It’d be enough to be called a correction if it were a stock – not a recession though…
Supply catching up with current demand? A (perhaps short term) exit by speculators?
[quote]BostonBarrister wrote:
Man, oil prices are dropping pretty quickly these days… It’d be enough to be called a correction if it were a stock – not a recession though…
Supply catching up with current demand? A (perhaps short term) exit by speculators?[/quote]
My analysts are saying that the price decrease is a reflection of the decrease in gasoline consumption as the Summer is over and Americans have cut back their overall usage coupled with the perceived stability in the Israeli conflict have helped the prices go down.
You are correct. This is a short term price change.
$2.19 this morning. Karl Rove is a genius.
[quote]Marmadogg wrote:
BostonBarrister wrote:
Man, oil prices are dropping pretty quickly these days… It’d be enough to be called a correction if it were a stock – not a recession though…
Supply catching up with current demand? A (perhaps short term) exit by speculators?
My analysts are saying that the price decrease is a reflection of the decrease in gasoline consumption as the Summer is over and Americans have cut back their overall usage coupled with the perceived stability in the Israeli conflict have helped the prices go down.
You are correct. This is a short term price change.[/quote]
I’ve read your responses through this whole thread and I just can’t believe it. You fall off on ‘according to my analysts and my analysts this and that’
for every response. What do you think? Do you think? You have stated on here that gas prices are purely-100%- due to supply and demand. Do you honestly feel that demand has backed off 20-25-30% in the past week or two?
And why has the futures market for gas been declining steadily for 2-3 weeks now? Why is it so hard to see or admit the speculation and fear factors that are behind these type of prices?
[quote]doogie wrote:
$2.19 this morning. Karl Rove is a genius.[/quote]
I am really starting to hate you.
[quote]sasquatch wrote:
Marmadogg wrote:
BostonBarrister wrote:
Man, oil prices are dropping pretty quickly these days… It’d be enough to be called a correction if it were a stock – not a recession though…
Supply catching up with current demand? A (perhaps short term) exit by speculators?
My analysts are saying that the price decrease is a reflection of the decrease in gasoline consumption as the Summer is over and Americans have cut back their overall usage coupled with the perceived stability in the Israeli conflict have helped the prices go down.
You are correct. This is a short term price change.
I’ve read your responses through this whole thread and I just can’t believe it. You fall off on ‘according to my analysts and my analysts this and that’
for every response. What do you think? Do you think? You have stated on here that gas prices are purely-100%- due to supply and demand. Do you honestly feel that demand has backed off 20-25-30% in the past week or two?
And why has the futures market for gas been declining steadily for 2-3 weeks now? Why is it so hard to see or admit the speculation and fear factors that are behind these type of prices?
[/quote]
There is no future market price for gasoline but there is a futures market price for oil.
The price change is a combination of seasonal demand reduction as well as an overall demand reduction as a result of precieved high gasoline prices.
Israel’s conflict with Hezbollah is a lame as reason. Worldwide oil supplies were never effected but the oil companies profited based purely on Wall Street speculation. The institutional futures invenstors and the oil companies made out like bandits.
Fear is a bullshit reason.
[quote]rainjack wrote:
doogie wrote:
$2.19 this morning. Karl Rove is a genius.
I am really starting to hate you. [/quote]
I have to smell the refineries, though.
[quote]rainjack wrote:
doogie wrote:
$2.19 this morning. Karl Rove is a genius.
I am really starting to hate you. [/quote]
Don’t you both live in the same state that is littered with refineries?
I paid $2.29 this morning.
[quote]doogie wrote:
rainjack wrote:
doogie wrote:
$2.19 this morning. Karl Rove is a genius.
I am really starting to hate you.
I have to smell the refineries, though.[/quote]
You’re breaking my heart.
I have to smell cowshit all day - but I don’t get a break on beef prices.
[quote]Marmadogg wrote:
Don’t you both live in the same state that is littered with refineries?
[/quote]
Not so much. But there is a ethanol plant going in about 45 miles west of us, and windfarms are leasing up land here like there is no tomorrow. We should have about 1600 wind turbines up within the next 3 years.