Oil Price Dropping

SpokenJeremy
SpokenJeremy Posts: 604
edited September 2006 in A Moving Train
Anyone else see through this b.s. about oil dropping? Seems to me the republicans are in a bit of trouble this coming November, and wouldn't you know it, oil prices are falling. Hmmmmmmmm
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  • surferdude
    surferdude Posts: 2,057
    So you think the Republican party controls world oil prices? All I can say is amazing.
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  • farfromglorified
    farfromglorified Posts: 5,700
    TacoJammer wrote:
    Anyone else see through this b.s. about oil dropping? Seems to me the republicans are in a bit of trouble this coming November, and wouldn't you know it, oil prices are falling. Hmmmmmmmm

    http://en.wikipedia.org/wiki/Correlation_implies_causation_(logical_fallacy)
  • SpokenJeremy
    SpokenJeremy Posts: 604
    surferdude wrote:
    So you think the Republican party controls world oil prices? All I can say is amazing.


    No I didn't say that. I am saying that is a widely known fact that a lot of Republicans have lots of buddies in the oil industry.
    Intelligence is the key and she was locked out

    Let's Just Pop a Few Yards of Bubble Wrap and Call It a Day!

    Don't Die Wondering

  • farfromglorified
    farfromglorified Posts: 5,700
    TacoJammer wrote:
    No I didn't say that. I am saying that is a widely known fact that a lot of Republicans have lots of buddies in the oil industry.

    Unfortunately, it's not widely known fact that the oil industry doesn't set oil prices.
  • blackredyellow
    blackredyellow Posts: 5,889
    TacoJammer wrote:
    No I didn't say that. I am saying that is a widely known fact that a lot of Republicans have lots of buddies in the oil industry.


    If the price of oil stayed where it is, and all of a sudden gas prices reduced, you might have a point, but like mentioned above, oil companies don't set the price of a barrel of oil.
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  • monkey spanker
    monkey spanker Posts: 283
    "but like mentioned above, oil companies don't set the price of a barrel of oil."

    you can't tell these people that. have a friend at work that cusses bush every day over gas prices..he always says "but he's the president!!!" like he can just go to chevron, get on a ladder and change the prices.
  • farfromglorified
    farfromglorified Posts: 5,700
    monkey spanker wrote:
    "but like mentioned above, oil companies don't set the price of a barrel of oil."

    you can't tell these people that. have a friend at work that cusses bush every day over gas prices..he always says "but he's the president!!!" like he can just go to chevron, get on a ladder and change the prices.

    Don't be silly. Only Dick Cheney can do that.
  • monkey spanker
    monkey spanker Posts: 283
    we, as consumers, have more power than anybody..but we don't exercise that power. everybody i know bitches and moans about the price of gas..yet, i leave the house yesterday and 1 station had it at $2.29..right next door it was $2.39...there were more people at the more expensive pumps than the cheaper ones..makes no sense.
  • iamica
    iamica Chicago Posts: 2,628
    Gas and oil prices peak between Memorial Day and Labor Day, then fall again until the following start of summer. It happens every year.
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  • inmytree
    inmytree Posts: 4,741
    farfromglorified wrote:
    Don't be silly. Only Dick Cheney can do that.

    perhaps you are correct...after all, we have no idea how our current energy policy was really written...

    I know I've posted something in the past pointing out how the oil companys have manipulated the market, thus leading to the huge profits...I know, I know, that's business...if you're a shyster...

    I, too, find in interesting that gas prices are suddenly falling...all the normal excuses are still in place...unrest in the middle east, a storm in the atlantic, unrest in nigeria, saber-rattling in iran...

    I just find it.....interesting....
  • farfromglorified
    farfromglorified Posts: 5,700
    inmytree wrote:
    perhaps you are correct...after all, we have no idea how our current energy policy was really written...

    Too bad our "current energy policy" has no direct influence over the price of a barrel of oil.
    I know I've posted something in the past pointing out how the oil companys have manipulated the market, thus leading to the huge profits...I know, I know, that's business...if you're a shyster...

    Oil companies do manipulate the availability of gasoline.
    I, too, find in interesting that gas prices are suddenly falling...all the normal excuses are still in place...unrest in the middle east, a storm in the atlantic, unrest in nigeria, saber-rattling in iran...

    You forgot that gas prices always fall in September.
    I just find it.....interesting....

    Is it an unwritten rule around here that interesting surrounded by quotes means "CONSPIRACY!!!!!!!", or am I just making that up?
  • inmytree
    inmytree Posts: 4,741
    farfromglorified wrote:
    Too bad our "current energy policy" has no direct influence over the price of a barrel of oil.



    Oil companies do manipulate the availability of gasoline.



    You forgot that gas prices always fall in September.



    Is it an unwritten rule around here that interesting surrounded by quotes means "CONSPIRACY!!!!!!!", or am I just making that up?


    I figured you'd break this up....;) anyway, please don't put words in my mouth...I said nothing about a conspiracy...

    all I'm saying is all the "excuses" are in place, yet prices drop...I happen to find that odd...yes, yes, it's September, blah blah blah....as I've said, every excuse is available, yet prices are dropping and dropping fast...I'd be very curious as to what they will be the 1st of November...

    by the way...how do you know our current energy policy has no influence over the price of gas...? it was written behind closed doors....how do we know no one is pulling the strings....
  • farfromglorified
    farfromglorified Posts: 5,700
    inmytree wrote:
    I figured you'd break this up....;) anyway, please don't put words in my mouth...I said nothing about a conspiracy...

    Fair enough.
    all I'm saying is all the "excuses" are in place, yet prices drop...I happen to find that odd...yes, yes, it's September, blah blah blah....as I've said, every excuse is available, yet prices are dropping and dropping fast...I'd be very curious as to what they will be the 1st of November...

    by the way...how do you know our current energy policy has no influence over the price of gas...? it was written behind closed doors....how do we know no one is pulling the strings....

    Look, oil prices are set on the market where the rules of supply and demand rule. Oil prices go down in September because demand for gas drops. It's not "blah blah blah". It makes perfect sense and that's why it happens like clock work.

    When prices go up, people talk about secret meetings in the backrooms of oil companies. When prices go down, people talk about secret meetings in backrooms of oil companies. What do you people want? Fixed prices? Oh wait, those require those backroom meetings too.......
  • inmytree
    inmytree Posts: 4,741
    farfromglorified wrote:
    Fair enough.



    Look, oil prices are set on the market where the rules of supply and demand rule. Oil prices go down in September because demand for gas drops. It's not "blah blah blah". It makes perfect sense and that's why it happens like clock work.

    When prices go up, people talk about secret meetings in the backrooms of oil companies. When prices go down, people talk about secret meetings in backrooms of oil companies. What do you people want? Fixed prices? Oh wait, those require those backroom meetings too.......

    has supply suddenly increased...? from what I understand, Iraq has begun importing more oil (I saw this on Mosaic:News from the Middle East)...Nigerian oil production has been decreased by 1/5th...
  • Solat13
    Solat13 Posts: 6,996
    inmytree wrote:
    perhaps you are correct...after all, we have no idea how our current energy policy was really written...

    I know I've posted something in the past pointing out how the oil companys have manipulated the market, thus leading to the huge profits...I know, I know, that's business...if you're a shyster...

    I, too, find in interesting that gas prices are suddenly falling...all the normal excuses are still in place...unrest in the middle east, a storm in the atlantic, unrest in nigeria, saber-rattling in iran...

    I just find it.....interesting....

    http://www.ft.com/cms/s/51ec2e78-40da-11db-827f-0000779e2340.html

    like everything else in the world, it's all supply and demand.

    In the US, for example, sport utility vehicle sales fell 14 per cent in August, while sales of compact cars were up 18 per cent. Opec expects oil consumption in North America to increase by only 90,000 b/d in 2006, compared to the 230,000 b/d jump it experienced in 2005 and 520,000 b/d in 2004.

    When the demand for oil falls, the prices fall.
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  • farfromglorified
    farfromglorified Posts: 5,700
    inmytree wrote:
    has supply suddenly increased...? from what I understand, Iraq has begun importing more oil (I saw this on Mosaic:News from the Middle East)...Nigerian oil production has been decreased by 1/5th...

    http://www.eia.doe.gov/emeu/ipsr/t21.xls
  • The Illinoisemakers
    The Illinoisemakers Posts: 461
    Lets not forget that were moving from summer blend gas to winter blends in a lot of areas, which cost less to refine then summer gas. It also contributes to gas prices falling.
  • inmytree
    inmytree Posts: 4,741
    Solat13 wrote:
    http://www.ft.com/cms/s/51ec2e78-40da-11db-827f-0000779e2340.html

    like everything else in the world, it's all supply and demand.

    In the US, for example, sport utility vehicle sales fell 14 per cent in August, while sales of compact cars were up 18 per cent. Opec expects oil consumption in North America to increase by only 90,000 b/d in 2006, compared to the 230,000 b/d jump it experienced in 2005 and 520,000 b/d in 2004.

    When the demand for oil falls, the prices fall.


    if memory serves me right, Opec has been saying this sort of thing months....and yes, I'm glad people are use less...I guess my point is, when prices jump, all sorts of excuses are used....now, those same excuses are still around, yet prices go down...please understand, I do comprehend the concept of supply and demand, I really do...I just happen to think it can be manpulated....

    anyway, thanks for the link...
  • he still stands
    he still stands Posts: 2,835
    well I'm no economist... but I would have to disagree immensely with the original post.... as well as all the posts that say it is simply "supply and demand."

    First, I think its a very loose connection to state that oil prices are dropping because Repubs need support for the upcoming elections. I could make the statement that oil prices are decreasing because it rained here over Labor Day weekend and the argument would hold just as much water. There has to be cause and effect.

    And to say that it is simply a matter of supply and demand isn't correct either. The oil industry, more than any other, is subject to massive amounts of speculation (new oil reserves found in the Gulf of Mex). Furthermore, the vast majority of US oil comes from Canada, Mexico, and the US (not the mid-east)... combined with the fact that oil prices are set on the world market... it just isn't possible.
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  • inmytree
    inmytree Posts: 4,741
    farfromglorified wrote:
    http://www.eia.doe.gov/emeu/ipsr/t21.xls


    did you send me a virus....?

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