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Gas Prices

CH156378CH156378 Posts: 1,539
edited July 2012 in A Moving Train
DOWNWARD.

























































FORWARD.
Post edited by Unknown User on

Comments

  • gimmesometruth27gimmesometruth27 St. Fuckin Louis Posts: 23,303
    it is almost hurricane season and it will be labor day in the next few months. there will be a spike then. i still think we need to make speculation illegal since the speculators have historically been the ones responsible for the spikes and long term increases in prices. but i guess we can't interfere with the free market can we?

    i am thinking that due to the election the cost is gonna rise, exxon mobil will make even higher record profits, and a lot of that money is going to be dumped into romney's campaign in hopes of buying the election. thank you supreme court for that one...
    "You can tell the greatness of a man by what makes him angry."  - Lincoln

    "Well, you tell him that I don't talk to suckas."
  • LloydXmasLloydXmas Posts: 7,539
    There won't be a spike because it's an election year.
  • DriftingByTheStormDriftingByTheStorm Posts: 8,684
    Back when gas was still at 3.75 and heading to 3.50 around these parts i called "under $3.00 by August". I think we are WELL on our way to that reality. Although there could be a "fight" at $3 by speculators. I suspect "economic headwinds" will prevail and push through that would-be-bottom, though.

    Oil (and therefore gas) have been moving down more or less steadily since the end of Spring when it became clear that economic numbers across the board were coming out stagnant\unimproved to mildly-down\below-expectations and NOT "better than had hoped". To be clear, they don't just move down "because of that news", that news is also a reflection of why they are moving down to begin with. Some of the bad numbers were "producer price index" numbers falling and "factory orders" \ "durable goods" type numbers. And drops in those indicate REAL CHANGES IN DEMAND ... which means real DOWNward changes in demand for OIL.

    They started moving down faster (along with all comodities and the stock markets generally) as Europe\Greece\Spain woes flickered forward, but really the speed increase is due to both the economic numbers getting even more dismal in the last two months (when most of the loss in price occured) and also, i (and others) suspect, due to the underlying DEFLATIONARY wave that has gained steam ahead of the Fed's ability to "throw money at" this "problem".

    We are in the tail end of an over-half-century-long GENERAL & government DEBT BUBBLE. Things will go DOWN on the way through this "phase of history". This is due to nature of leveraging, speculation, and debt at a rather fundamental level. As wealth is destroyed by debt defaults (look at all these countries and states \ municipalities \ businesses and private persons on the verge of insolvency\default) that "money" disappears from asset sheets & and account ledgers, making it unavailable for those who need it. This crisis-created-REAL-credit-contraction (ie. if you default on your debt, OR EVEN IF YOUR DEBT IS SIMPLY DOWNGRADED IN ITS RATING, your debt paper becomes worth less\or worthless in the market, everyone who holds your debt just took a big hit - and now the world as a whole is SHORT THAT "MONEY" to 'use') will be amplified UNTOLD-fold by massive leveraging at international mega-institutions including THE EURO BAILOUT FUND itself (lols). When these "knee capping" events occur. Look out below for commodity prices and stock prices across the board.


    The only way things won't just steadily just go down and down more is if the government(s) can somehow not just massively inflate the currency base, but ALSO CAUSE GENERALALIZED FEAR of their failure (either in the markets, or in the people themselves) in which case we could have a "brief" period of HYPERinflation.

    Who knows.
    But, YAY CHEAP GAS on the way down.
    :D

    PS - and ALL commodities (especially gold & silver, but including oil) and stocks went UP yesterday pretty sharply ... NOT because of Obamacare tidings (as has been misleadingly stated in US press) but BECAUSE IMMEDIATE BAILOUT ACTION FOR SPAIN SENT THE EURO DRASTICALLY HIGHER, HURTING THE DOLLAR, AND CAUSING EVERYTHING PRICED IN DOLLARS TO RISE APPRECIABLY.
    If I was to smile and I held out my hand
    If I opened it now would you not understand?
  • inlet13inlet13 Posts: 1,979
    You're not...





















































    ...very smart. Gas prices increases and improving economic performance are positively related. What does that mean in the current context? Deflation. More directly... global recession.


    Forward.
    Here's a new demo called "in the fire":

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  • CH156378CH156378 Posts: 1,539
    inlet13 wrote:
    Forward.
    +1
  • DriftingByTheStormDriftingByTheStorm Posts: 8,684
    inlet13 wrote:
    You're not...
    ...very smart. Gas prices increases and improving economic performance are positively related. What does that mean in the current context? Deflation. More directly... global recession.


    Forward.

    who was this addressed to?
    gimmesometruth27?

    Also, don't forget the converse,
    prices can rise in RAPIDLY DETERIORATING conditions too.
    Its called hyperinflation. :D:D:D

    I agree though,
    until the bottom drops out of global confidence in "the system",
    we will continue on the "slow leak" deflationary course.
    If I was to smile and I held out my hand
    If I opened it now would you not understand?
  • ShawshankShawshank Posts: 1,018
    I wholeheartedly agree with Gimme, speculation should be outlawed somehow.

    Also since oil spiked a few days ago (because of speculating pieces of shit) I speculate gas prices will be on the rise this week and into next week.
  • inlet13inlet13 Posts: 1,979
    DriftingByTheStorm wrote:
    inlet13 wrote:
    You're not...
    ...very smart. Gas prices increases and improving economic performance are positively related. What does that mean in the current context? Deflation. More directly... global recession.


    Forward.

    who was this addressed to?
    gimmesometruth27?

    Also, don't forget the converse,
    prices can rise in RAPIDLY DETERIORATING conditions too.
    Its called hyperinflation. :D:D:D

    I agree though,
    until the bottom drops out of global confidence in "the system",
    we will continue on the "slow leak" deflationary course.

    Yup. You and I both know that.

    My issue here is people (including congress) are stupid. Plain and simple. Congress gets all up in arms when inflation sets in and oil prices rise. They freak out. "OMG! those damn oil producers" (umm did you look at the stock market, genius congressman?) - inflation means prices rise dummies. Since, oil profits are a function of prices (demand is inelastic), bing bang boom... oil companies are once again evil in periods when inflation sets in. Yet, their not now? Because it's going down or is lower? Seriously?

    Meanwhile, inflationary periods are typically booms (or mini-booms more recently). Now, we're seeing a mini-global bust... and whammy... oil prices fall.... And oil companies are ok again. Yeh - Obama! Or Yeh Bush (or whoever is in office)...

    Wowzer.

    I'm sorry, but the whole topic makes me want to puke. As if government does anything to really reduce inherent prices. Sure, they can tax and regulate and create higher/lower realized prices, but they do very little to the underlying price. Which is a function of oligopoly and basically supply and demand...

    Once again - I hate to be a drag, but to me ... ignorance is annoying. This thread is proof it runs rampant on this topic.
    Here's a new demo called "in the fire":

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  • inlet13inlet13 Posts: 1,979
    CH156378 wrote:
    inlet13 wrote:
    Forward.
    +1


    :lolno:
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  • gimmesometruth27gimmesometruth27 St. Fuckin Louis Posts: 23,303
    inlet13 wrote:
    Yup. You and I both know that.

    My issue here is people (including congress) are stupid. Plain and simple. Congress gets all up in arms when inflation sets in and oil prices rise. They freak out. "OMG! those damn oil producers" (umm did you look at the stock market, genius congressman?) - inflation means prices rise dummies. Since, oil profits are a function of prices (demand is inelastic), bing bang boom... oil companies are once again evil in periods when inflation sets in. Yet, their not now? Because it's going down or is lower? Seriously?

    Meanwhile, inflationary periods are typically booms (or mini-booms more recently). Now, we're seeing a mini-global bust... and whammy... oil prices fall.... And oil companies are ok again. Yeh - Obama! Or Yeh Bush (or whoever is in office)...

    Wowzer.

    I'm sorry, but the whole topic makes me want to puke. As if government does anything to really reduce inherent prices. Sure, they can tax and regulate and create higher/lower realized prices, but they do very little to the underlying price. Which is a function of oligopoly and basically supply and demand...

    Once again - I hate to be a drag, but to me ... ignorance is annoying. This thread is proof it runs rampant on this topic.
    if you are so smart why don't you fix it?

    it is counter productive for one guy who thinks he is smarter than everyone else to sit behind a keyboard and call everyone else stupid. that is all you do on here. you spout off your economic principles on here in every thread as if they are failsafe. we are not in a libertarian utopia. we are in reality here. your econimic theories sound good on paper, but when applied to reality they do not fit.

    i am no armchair economist, as your purport yourself to be, but i also don't need a weatherman to know which way the wind blows. none of us do, so stop insulting our intelligence.

    please, prove to me and everyone selse here that oil speculators have nothing to do with the price of oil. it is proven that the speculators drove it up last time a few years ago and they are doing it again.
    "You can tell the greatness of a man by what makes him angry."  - Lincoln

    "Well, you tell him that I don't talk to suckas."
  • gimmesometruth27gimmesometruth27 St. Fuckin Louis Posts: 23,303
    gimmesometruth27 wrote:
    it is almost hurricane season and it will be labor day in the next few months. there will be a spike then. i still think we need to make speculation illegal since the speculators have historically been the ones responsible for the spikes and long term increases in prices. but i guess we can't interfere with the free market can we?

    i am thinking that due to the election the cost is gonna rise, exxon mobil will make even higher record profits, and a lot of that money is going to be dumped into romney's campaign in hopes of buying the election. thank you supreme court for that one...
    and by the way, inlet, i stand by this.

    you can't tell me that exxon and halliburton and bp et al is not going to try to buy this thing for romney...
    "You can tell the greatness of a man by what makes him angry."  - Lincoln

    "Well, you tell him that I don't talk to suckas."
  • gimmesometruth27gimmesometruth27 St. Fuckin Louis Posts: 23,303
    everybody knows that to unseat a sitting president on econimic reasons you do 2 things...

    1. make sure that the stock market stays volatle and unsteady

    and

    2. you make gas prices expensive.

    high gas prices and a terribly fluctuating market are the signs of a bad economy. it bodes well for the challenger because the challenger can blame the sitting guy for the problems. your average american is going to feel the pinch at the pump much more immediately and moreso than the decreased numbers in their retirement accounts that they can't dive into for another 25 years.

    this happened when clinton beat bush 1 and when bush 2 beat gore.
    "You can tell the greatness of a man by what makes him angry."  - Lincoln

    "Well, you tell him that I don't talk to suckas."
  • inlet13inlet13 Posts: 1,979
    gimmesometruth27 wrote:
    if you are so smart why don't you fix it?

    Seriously? It's market-based. I can't "fix" it - no one can besides the "market". Unfortunately, I'm not supply, nor am I demand. That's the point. I don't like these drone politicians who go up on stage and pretend they will "fix it"... nor do I like their pom-pom wavers who cheer on their every move, completely clueless to the actual fundamentals dictating alterations in real life.

    I'm sorry, but it annoys me and I'm entitled to be annoyed.
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  • inlet13inlet13 Posts: 1,979
    gimmesometruth27 wrote:
    everybody knows that to unseat a sitting president on econimic reasons you do 2 things...

    1. make sure that the stock market stays volatle and unsteady

    and

    2. you make gas prices expensive.

    high gas prices and a terribly fluctuating market are the signs of a bad economy. it bodes well for the challenger because the challenger can blame the sitting guy for the problems. your average american is going to feel the pinch at the pump much more immediately and moreso than the decreased numbers in their retirement accounts that they can't dive into for another 25 years.

    this happened when clinton beat bush 1 and when bush 2 beat gore.


    Seriously? Are you really writing this stuff? Re-read this post. So, now someone "is doing this" with the purpose to unseat the President. This is kinda sad you believe this stuff.
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  • brianluxbrianlux Moving through All Kinds of Terrain. Posts: 42,426
    gimmesometruth27 wrote:
    everybody knows that to unseat a sitting president on econimic reasons you do 2 things...

    1. make sure that the stock market stays volatle and unsteady

    and

    2. you make gas prices expensive.

    high gas prices and a terribly fluctuating market are the signs of a bad economy. it bodes well for the challenger because the challenger can blame the sitting guy for the problems. your average american is going to feel the pinch at the pump much more immediately and moreso than the decreased numbers in their retirement accounts that they can't dive into for another 25 years.

    this happened when clinton beat bush 1 and when bush 2 beat gore.
    This is definitely my recollection.
    "Pretty cookies, heart squares all around, yeah!"
    -Eddie Vedder, "Smile"

    "Try to not spook the horse."
    -Neil Young













  • gimmesometruth27gimmesometruth27 St. Fuckin Louis Posts: 23,303
    brianlux wrote:
    gimmesometruth27 wrote:
    everybody knows that to unseat a sitting president on econimic reasons you do 2 things...

    1. make sure that the stock market stays volatle and unsteady

    and

    2. you make gas prices expensive.

    high gas prices and a terribly fluctuating market are the signs of a bad economy. it bodes well for the challenger because the challenger can blame the sitting guy for the problems. your average american is going to feel the pinch at the pump much more immediately and moreso than the decreased numbers in their retirement accounts that they can't dive into for another 25 years.

    this happened when clinton beat bush 1 and when bush 2 beat gore.
    This is definitely my recollection.
    but i guess it is so much less exciting to simply deny those points and say the market dictates those things. leaving out the fact that markets are manipulated every day...
    "You can tell the greatness of a man by what makes him angry."  - Lincoln

    "Well, you tell him that I don't talk to suckas."
  • inlet13inlet13 Posts: 1,979
    gimmesometruth27 wrote:

    2. you make gas prices expensive.

    Excuse me everyone, I'm off to go "make gas prices expensive".
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  • gimmesometruth27gimmesometruth27 St. Fuckin Louis Posts: 23,303
    inlet13 wrote:
    Excuse me everyone, I'm off to go "make gas prices expensive".

    :wave: :wave:

    http://money.howstuffworks.com/oil-spec ... -price.htm

    http://www.nytimes.com/2012/04/11/opini ... tures.html
    "You can tell the greatness of a man by what makes him angry."  - Lincoln

    "Well, you tell him that I don't talk to suckas."
  • mikepegg44mikepegg44 Posts: 3,353
    gimmesometruth27 wrote:
    it is almost hurricane season and it will be labor day in the next few months. there will be a spike then. i still think we need to make speculation illegal since the speculators have historically been the ones responsible for the spikes and long term increases in prices. but i guess we can't interfere with the free market can we?

    i am thinking that due to the election the cost is gonna rise, exxon mobil will make even higher record profits, and a lot of that money is going to be dumped into romney's campaign in hopes of buying the election. thank you supreme court for that one...


    oil a free market?....hahahahaha
    that’s right! Can’t we all just get together and focus on our real enemies: monogamous gays and stem cells… - Ned Flanders
    It is terrifying when you are too stupid to know who is dumb
    - Joe Rogan
  • Jason PJason P Posts: 19,156
    gimmesometruth27 wrote:
    i am thinking that due to the election the cost is gonna rise, exxon mobil will make even higher record profits, and a lot of that money is going to be dumped into romney's campaign in hopes of buying the election. thank you supreme court for that one...
    US oil production increased for the first time since the early 80's under Obama's watch and has seen significant increases every year he has been in office. Who's to say big oil isn't perfectly happy with the current man?

    It appears that Barry took Palin's advice ...

    :think:
    Be Excellent To Each Other
    Party On, Dudes!
  • gimmesometruth27gimmesometruth27 St. Fuckin Louis Posts: 23,303
    Jason P wrote:
    gimmesometruth27 wrote:
    i am thinking that due to the election the cost is gonna rise, exxon mobil will make even higher record profits, and a lot of that money is going to be dumped into romney's campaign in hopes of buying the election. thank you supreme court for that one...
    US oil production increased for the first time since the early 80's under Obama's watch and has seen significant increases every year he has been in office. Who's to say big oil isn't perfectly happy with the current man?

    It appears that Barry took Palin's advice ...

    :think:
    obama wants to take away big oil tax breaks and has mentioned stopping oil subsidies.

    who do you think big oil is going to support if it was a choice between obama and romney?

    it is an absolute no-brainer.
    "You can tell the greatness of a man by what makes him angry."  - Lincoln

    "Well, you tell him that I don't talk to suckas."
  • DriftingByTheStormDriftingByTheStorm Posts: 8,684
    Shawshank wrote:
    Also since oil spiked a few days ago (because of speculating pieces of shit) I speculate gas prices will be on the rise this week and into next week.

    Ya'll need to get your facts straight before you start insulting and taking offense to every person that takes a position in the market.

    "Speculating pieces of shit" did NOT spike the price of oil last week.
    The markets responded (albeit in a shortsighted way, as they always seem to) to news of Germany agreeing to use EuroBailoutFund cash to help Spain by raising the price of the Euro in a very short period of time. Although it was a net inflationary move, i'm assuming the price of the Euro was already discounted for such inflation at the announcement of the EuroBailoutFund itself. This move to USE the money has only been seen as POSITIVE FOR THE EURO SYSTEM, THUS RAISING THE VALUE OF THE EURO RELATIVELY SIGNIFICANTLY.

    ***THIS RAISE IN THE VALUE OF THE EURO LOWERS THE RELATIVE VALUE OF THE DOLLAR (the Euro ROSE AGAINST the Dollar) CAUSING EVERYTHING DENOMINATED IN DOLLARS TO BECOME MORE EXPENSIVE AS THE DOLLAR LOST RELATIVE VALUE.

    THIS HAD ***NOTHING*** TO DO WITH SPECULATION
    It's how markets work.

    PS.
    If you want to rail against "SPECULATING PIECES OF SHIT" know that the real market manipulation occurs at a MASSIVE LEVEL OF COLLUSION between players like The Federal Reserve, Goldman Sachs, JP Morgan Chase, Citibank, and a host of other "owned" institutions that function for "the man" and his system across the globe.

    Big Banks Accused of Manipulating Key Interest Rates
    article wrote:
    The six banks fingered in the report are Citigroup, Deutsche Bank, HSBC Holdings, JPMorgan Chase, Royal Bank of Scotland and the aforementioned UBS.

    You don't have to be a genius to see that these are HIGH profile banks. Not just some random coterie of Would Be Big Shots. These guys ARE THE SYSTEM. JP Morgan = Largest bank in US. Citibank = Rockefeller $$$. Deutsche, HSBC, RBS, and UBS are all top level banks for their respective "regions". I'm just surprised Mitisubishi UFJ wasn't included in the list. But i guess they implicated HSBC so you know its going on in all 4 corners of the globe.

    This kind of shit goes on with EVERYTHING.
    Oil. Gold. US Treasuries. The Euro. Etc. Etc. Etc.
    If you own all the largest players in the system, and can control their trading desks by direction, bada-bam-bada-bing. Manipulation.

    It's not some stupid selfish asshole speculators that are gaming you,
    THE SYSTEM itself is gaming you.
    If I was to smile and I held out my hand
    If I opened it now would you not understand?
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