Oil Market Doesnt Make Sense

[Brett]

So today oil is down $11 a barrell over the last 24 hours, Part of the reason is investors are "Suprised the economy is slowing down and consumption of gas is decreasing due to higher price"

Now how the f*ck can they be suprised?

I personally think the bubble on the oil market is about to pop (Like the tech stocks in the 90's) and due to they were inflated so much and so quick, That whole market is about to tumble. LETS HOPE SO ATLEAST

[Ran]

Of course prices dropped. They heard that Bush lifted his ban on domestic drilling so they're freaking out. It's a speculative market managed by a bunch of foreign cartels and it's bullsh*t.

[Brett]

Of course prices dropped. They heard that Bush lifted his ban on domestic drilling so they're freaking out. It's a speculative market managed by a bunch of foreign cartels and it's bullsh*t.

Yeah but thats a 5-10 year time frame before we see any oil and there is STILL a federal ban on the off shore drilling.

[Ran]

Yeah but thats a 5-10 year time frame before we see any oil and there is STILL a federal ban on the off shore drilling.

True, but just the fact that we're going to try and take matters into our own hands will have them fearing the future.

Also, the Federal ban is a crock and unless they lift it the Democrats are really going to come off as the bad guys that are harming the country in it's time of need.

[BanginJimmy]

Also, the Federal ban is a crock and unless they lift it the Democrats are really going to come off as the bad guys that are harming the country in it's time of need.

I agree, with the presidential race so close I'm suprised that both sides arent tripping over themselves trying to be the first to get in the bill to end the ban. If Republicans lead the way and get it passed McCain will pull it out. If Democrats are in the lead then Obama will win.

[civic95]

IIf Democrats are in the lead then Obama will win.

I hope he does win. Do you know how great that will be? Check out this clip to see how great it will be.

http://www.youtube.com/watch?v=49Bf1...eature=related

[Brett]

I agree, with the presidential race so close I'm suprised that both sides arent tripping over themselves trying to be the first to get in the bill to end the ban. If Republicans lead the way and get it passed McCain will pull it out. If Democrats are in the lead then Obama will win.

Obama oposes the drilling so if he gets elected, We will not have a shot at that.

They need to also give us the fair tax act also, But god knows they are all afraid of what they dont understand fully.

[tony]

Of course prices dropped. They heard that Bush lifted his ban on domestic drilling so they're freaking out. It's a speculative market managed by a bunch of foreign cartels and it's bullsh*t.

Not quite, close though. Oil dropped due to an unexpected increase in supplies when they were expected to drop, the Saudi's had increased production last month and we are now seeing the residual effect of that.

Mix that in with the Dollar rose against the Euro today and you have what is claimed to be this big drop in oil prices. Will it continue? Who knows..

[ironchef]

Well a bigger reason is that US oil supplies increased, hence the price drop.

[Sport1.3]

oil prices will always be based off speculation.....we will always lose

[green91]

GREAT now mr.kidd will make another thread ranting about someone making another thread ranting about fuel.

[Kaiser]

So today oil is down $11 a barrell over the last 24 hours, Part of the reason is investors are "Suprised the economy is slowing down and consumption of gas is decreasing due to higher price"

Now how the f*ck can they be suprised?

I personally think the bubble on the oil market is about to pop (Like the tech stocks in the 90's) and due to they were inflated so much and so quick, That whole market is about to tumble. LETS HOPE SO ATLEAST

The problem with a "bubble pop" is that there's already been a high-water mark set by the bubble. Similarly with stocks, the prices always go UP. This is the key idea behind 'speculative' long term investments like market shares or commodity futures. The price of these kinds of goods over an extended period of time will go up, yielding a return on investment. If nothing else they go up because of inflation. Oil is certainly over it's inflation adjusted previous levels, but not by as much as you'd think. You have to remember that oil is priced in USD versus foreign currencies, and when the USD drops in value against foreign currencies, our price of oil adjusts despite a lack of change on the supplier side's actual income.

(For those of you that have a hard time picturing what that really means, if $1 equals 5 units of foreign currency, and a foreign country sells oil at 50 units of their currency, we see that as oil priced at $10 a barrel. If the exchange rate adjusts to $2 equals 5 units of foreign currency, the foreign country sees no adjustment in income while our costs double from $10 to $20.)

Here's to hoping that the past few years (All the way back to 2001-2002) of rapid surges in oil prices has come to an end, and if nothing else that the price of oil could become stabilized and allow the economy to recover and adjust.

[slostang]

I wish I could vote for bill Clinton.

[B18c1Turboed]

Good thing about that is any oil drilled in the usa, stays in the usa!! According to what CNN said theres some law!!!

but yea down 11 a barrell and im still paying 4.07 a gallon!!! how long does it take to effect the gas prices?

[WhiteAccord]

Good thing about that is any oil drilled in the usa, stays in the usa!! According to what CNN said theres some law!!!

but yea down 11 a barrell and im still paying 4.07 a gallon!!! how long does it take to effect the gas prices?

From what ive seen, when oil goes down it takes about 2 days for an actual gas station to drop their prices.

[Brett]

Good thing about that is any oil drilled in the usa, stays in the usa!! According to what CNN said theres some law!!!

but yea down 11 a barrell and im still paying 4.07 a gallon!!! how long does it take to effect the gas prices?

Id kill for $4.07 right now, I have to use premium

[ironchef]

Id kill for $4.07 right now, I have to use premium

The difference between that and premium for 1 tank is like ~$5, not that big of a deal. Skip out on Starbucks or any other unnecessary purchase, and you've recouped the difference.

[Ran]

Id kill for $4.07 right now, I have to use premium

HAHA!!

Chalk one up for the Mustang.

[Echonova]

Id kill for $4.07 right now, I have to use premium

My gas is free. I just assist in the evil oil companies scheme to drain every last penny from Brett.

[B18c1Turboed]

Id kill for $4.07 right now, I have to use premium

Shoot me paying 4.07 dont mean anything.. My gas mileage suxs i get something like 8 miles per gallon!! But gotta love the power of a heavy duty v8 truck!!!

[Farrow2005]

4.05 a gal. columbus ga
3.80 a gal. in Auburn al

That was monday.

also cheeburger cheeburger 1lber was 10.99 i ate it all.

[blaknoize]

4.05 a gal. columbus ga
3.80 a gal. in Auburn al

That was monday.

also cheeburger cheeburger 1lber was 10.99 i ate it all.

3.81 here in Columbus

[BABY J]

Gas prices are high? D*mn I need to start paying attention to that more often. I either need it or I don't and I just whip in and filll up.

[BABY J]

I mean - I understand it all - but EVERY1 that I know who complains about gas prices drives cars modded for racing - we know what that does. They do "cruise-ins" - mountain runs - buy iPods, drop $150 beer tabs "just" to have a good time - have 899 cable channels and only watch TV 2 days a weeek - have multiple gaming systems, and iPhones. For me - it's all relative. My pockets aren't as nervous as some, but I am still frugal. So I KNOW that most of you can find a way to balance it out.

[blaknoize]

I mean - I understand it all - but EVERY1 that I know who complains about gas prices drives cars modded for racing - we know what that does. They do "cruise-ins" - mountain runs - buy iPods, drop $150 beer tabs "just" to have a good time - have 899 cable channels and only watch TV 2 days a weeek - have multiple gaming systems, and iPhones. For me - it's all relative. My pockets aren't as nervous as some, but I am still frugal. So I KNOW that most of you can find a way to balance it out.

Yea thats u. Baller. I have SHIIT. I'm still trying to de-tune my car and go back to stock D16. I dont have cable, nor do I care to watch tv that much. Never can imagine the idea of spending $150 anything on "drinks."

But thats just to make noise on ur quote . It is all relative, I wont complain till i cant afford to drive as I normally would. We alll should understand this ourselves and get the best bang for our dollar. Though that will never happen in this tuner world, its an idea. So yes, all of us can budget or learn to budget or just stop being so WASTEFUL.

[blaknoize]

.24 is a big drop nowadays? I coulda swore that a whole dollar drop was a big drop. Back n the day when I was young... u know, in 1998 when gas was $1.74

[tony]

.24 is a big drop nowadays? I coulda swore that a whole dollar drop was a big drop. Back n the day when I was young... u know, in 1998 when gas was $1.74

The price of a barrel of oil dropped which is making all the news, $10 over the past 2 days.