If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(CNN)   Crude oil prices drop $9/barrel in two days, so the price at the pump should start dropping any day now. Right?   (money.cnn.com) divider line 193
    More: Unlikely  
•       •       •

8006 clicks; posted to Main » on 08 Jul 2008 at 9:47 PM (6 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



193 Comments   (+0 »)
   

Archived thread

First | « | 1 | 2 | 3 | 4 | » | Last | Show all
 
2008-07-08 06:17:56 PM  
hahahahahahah...no...the oil companies will just get a higher profit margin per gallon.
 
2008-07-08 06:23:38 PM  
Gat damn gas dipped below $4 over the weekend here. Of course it shot right back up by Monday.
 
2008-07-08 06:29:50 PM  
...which is precisely why this the "drill more holes in ANWR" and the "let oil companies build more refineries" logic is not the answer to high gasoline prices.

You paid $4/gallon or more for gas. There were no riots, no torching of gas stations, no dragging of oil company executives from their mansions to be tarred-&-feathered by a furious mob. You will pay and you will do so passively and obediently. Get used to it and more of the same until the people do something to push back other than hold goddamn prayer meetings at gas pumps for lower prices.
 
2008-07-08 07:03:11 PM  
Gas prices are determined by an economic version of Maxwell's Demon. Only higher prices are allowed to pass.
 
2008-07-08 07:28:21 PM  
Oh sweet, I guess I'll go out and buy a couple of barrels. I make my own gas. It's kind of like rolling your own cigarettes or brewing your own beer. Except with gas. And you don't smoke while doing it. You know, because of the fire and shiat.
 
2008-07-08 08:12:20 PM  
Yay bus pass! $55 a month FTW!
 
2008-07-08 09:05:16 PM  
Um... all the processors bought the gas we're using right now 3 months ago... they can do basically whatever the hell they want with the gas price no matter what oil hits
 
2008-07-08 09:49:02 PM  
Buy! Buy! Buy!
 
2008-07-08 09:52:09 PM  
Don't count on it.
 
2008-07-08 09:52:42 PM  
yeah, and monkeys might fly out of my butt.
 
2008-07-08 09:53:25 PM  
-GET BACK IN THERE AND SELL DAMNIT! TURN THE MACHINES BACK ON!

*Randolph kicks over from a grabber*

-Mortimer your brother isn't well!

-FARK HIM!!

Thats the only thing I think about when there's a big sell-off in the market. Not to mention Don Ameche is awesome.

/The Bickersons FTW
//Oh whats that? Didn't think a 23 year old knew about The Bickersons?
///I are full o' surprises.
 
2008-07-08 09:54:08 PM  
Tacoby Bellisbury:Yay bus pass! $55 a month FTW!

I've said it before (maybe not on Fark) and I'll say it again...no price is worth sitting next to a drooling idiot that wet their pants and is oblivious to their 4+ day old body oder problem.

This is not a troll, just a statement of fact concerning our public transportation system here.
 
2008-07-08 09:54:12 PM  
Barrel cost can drop fifteen more dollars and the current average $4.10/gal price still won't reflect how high it should be.

So count yourselves lucky, American motorists.
 
2008-07-08 09:54:40 PM  
simpsonfan:Gasoline prices rise a big amount, then they drop it a little, and people are happy again, too stupid to realize.

First thing I thought of:
www.justiceplus.org
 
2008-07-08 09:54:41 PM  
TFA title "Oil falls as investors speculators focus on demand."

FTFT
 
2008-07-08 09:55:44 PM  
Keystone Copout:Tacoby Bellisbury:Yay bus pass! $55 a month FTW!

Yep, cause fuel prices don't show up anywhere else but the gas station, slapnut.
 
2008-07-08 09:55:45 PM  
big_pth:hahahahahahah...no...the oil companies will just get a higher profit margin per gallon.

Precisely. The American public has proven their ability to absorb $4+/gallon gas, and as a result we'll likely never see $3.00 again.

There'll always be unrest in the Middle East, hurricanes, and other excuses to keep the price up.
 
2008-07-08 09:56:28 PM  
The price of gas will be as low as possible. A $9 drop is a start, but that wouldn't be much of a change at the pumps. And drilling more WOULD lower prices. It's basic supply and demand. The highest profit for the oil companies would involve a lower gas price for us. For some reason, everyone seems to be on the "Gas Companies are EVIL" wagon. Just like any other company, they will sell their gas at whatever price makes them the best profit. Since people are buying less gas recently, if the supply were to go up, I guarantee the prices would drop so they could sell more gas. (I'm guessing around the $3 area would be a good spot, if we drilled more.)
 
j79
2008-07-08 09:57:00 PM  
Tacoby Bellisbury:Yay bus pass! $55 a month FTW!

Yay Commuter Rail/Subway/Bus Pass! $163 a month FTW!

(not really)
 
2008-07-08 09:57:34 PM  
oil will go back up, the institutions aren't done pawning off their oil stocks to the herd
 
2008-07-08 09:58:12 PM  
ceejayoz:There'll always be unrest in the Middle East, hurricanes, and other excuses to keep the price up.

We were always at war with eurasia...
 
2008-07-08 09:58:20 PM  
I eats at Taco Bell and then plugs a hose up my butt to get me back home.

/What car?
 
2008-07-08 09:58:43 PM  
simpsonfan:Gasoline prices rise a big amount, then they drop it a little, and people are happy again, too stupid to realize.

Oceania is at war with Eastasia. Oceania has always been at war with Eastasia.
 
2008-07-08 10:00:06 PM  
tbn0.google.com
tbn0.google.com
tbn0.google.com
tbn0.google.com
 
2008-07-08 10:01:10 PM  
They are kind of low around my way. Regular is $3.86 at the gas station closest to my house. Of course, we get a 'Dirty Jersey' discount--if you head over to PA, it's like $4.10+ . It is weird though that gas can be $3.86 right next to my house, but if I hit the highway 1 mile from my house, it can jump to $4.05.
 
2008-07-08 10:01:53 PM  
So, when can I get my natural gas-powered vehicle that rich oil dude just told me about on TV? And natural gas is in endless supply, right?

Would rather make T. Boone Pickens (^) rich than some Saudi...
 
2008-07-08 10:02:21 PM  
The only explanation (they have been instructed to give) is:


You just don't understand..
You just don't understand..
You just don't understand..
You just don't understand..
 
2008-07-08 10:04:24 PM  
Dude, this will rock when glowball werming, and perk hoil kill us all really live dead. Keap on Keapin on. Role a joint, pass a blunt, and pass that pissy little faggy econo box.

/just trollin
 
2008-07-08 10:06:07 PM  
But the oil companies don't set the prices! It's the speculators! Everybody knows that!
 
2008-07-08 10:08:34 PM  
Keystone Copout-I've said it before (maybe not on Fark) and I'll say it again...no price is worth sitting next to a drooling idiot that wet their pants and is oblivious to their 4+ day old body oder problem.

This is not a troll, just a statement of fact concerning our public transportation system here.


I must say--this is why the terrorists hate us.
 
2008-07-08 10:08:34 PM  
Well, the price of oil FUTURES has dropped $9 in the past two days. This is the right for the holders to buy oil. So the prices aren't affected when it drops... yet they are all of a sudden very influential when they rise.

Oil companies suck.
 
2008-07-08 10:09:03 PM  
Tabatha Static:You paid $4/gallon or more for gas. There were no riots, no torching of gas stations, no dragging of oil company executives from their mansions to be tarred-&-feathered by a furious mob. You will pay and you will do so passively and obediently. Get used to it and more of the same until the people do something to push back other than hold goddamn prayer meetings at gas pumps for lower prices.

Oil should be nationalized. Oil is an almost perfectly inelastic good with insurmountably high cost barriers to entry into the market, hence the corporate oligopoly currently in place. It has become a necessity and people will pay any amount for it, not because they are stupid, but because they have to to remain competitive and go about their business.

Before all of you laissez faire capitalists start whining about "communism" and how free markets should be left alone...relax, I'm with you guys. But you have to realize that oil is one of the worst possible goods to allow a free market to control. Any reputable economist will tell you that there are some exceptions to the free market which governments need to regulate in order to prevent market failures, such as the soaring price of gasoline we are seeing now. Even Adam Smith would laugh at the notion that the invisible hand could effectively manage inelastic goods like our water supply or vaccines to an epidemic, it's just nonsensical. You have to realize that a free market solution is simply NOT AVAILABLE for oil. Our only two choices are to let a collusive and corrupt oligopoly rape consumers and make record profits off of a good that at this point people would be willing to pay ANY price for (the antithesis of free market capitalism) or to simply let the government control the price and supply of this one specific good. Right now we essentially have the worst of both systems, a government which is far too involved regulating goods which should be left to the free market and allowing inelastic and necessary goods that should be heavily regulated, like oil, to run rampant and tank our economy at the will of corporate executives who only care about the bottom line.
 
2008-07-08 10:09:42 PM  
All that will happen is a bunch of uninformed SUV driving b@stards will see that price of oil went down so they start drive around needlessly thus increasing demand and then drive the price of oil back up.
 
2008-07-08 10:10:48 PM  
Gawd I fill up every two weeks in my 20 yr old Nissan. It was like $3.93 yesterday and crossed over to the 4$PG for the first time this evening in NCTX. I sooo should have filled up yesterday. Ach! FARK!
 
2008-07-08 10:12:00 PM  
Actually it dropped 15-20 cents a gallon here today.

Shuck it, Shubby
 
2008-07-08 10:12:12 PM  
Related or not, QT at the end of the street dropped 6 cents in past two days.
 
2008-07-08 10:12:24 PM  
Keystone Copout-I've said it before (maybe not on Fark) and I'll say it again...no price is worth sitting next to a drooling idiot that wet their pants and is oblivious to their 4+ day old body oder problem.

Yeah, but if you want to fly you have to put up with it.
 
2008-07-08 10:13:00 PM  
The gas station down the street from me hasn't budged from $3.99 over the past two months or so (live in Boston)...

/still at $3.99
//*shruggs*
 
2008-07-08 10:14:53 PM  
15/mo for a bus pass here.
 
2008-07-08 10:15:12 PM  
CCCarnie:The price of gas will be as low as possible. A $9 drop is a start, but that wouldn't be much of a change at the pumps. And drilling more WOULD lower prices. It's basic supply and demand. The highest profit for the oil companies would involve a lower gas price for us. For some reason, everyone seems to be on the "Gas Companies are EVIL" wagon. Just like any other company, they will sell their gas at whatever price makes them the best profit. Since people are buying less gas recently, if the supply were to go up, I guarantee the prices would drop so they could sell more gas. (I'm guessing around the $3 area would be a good spot, if we drilled more.)

Please explain, using established free market economic principles, how it is appropriate to allow a corporate oligopoly to control the supply and price of a perfectly inelastic good with insurmountably high market entry costs to competitors.
 
2008-07-08 10:15:54 PM  
Yea, let me tell you about Santa Claus, the Easter Bunny and God's Mercy.
 
2008-07-08 10:16:02 PM  
cksewell:Gawd I fill up every two weeks in my 20 yr old Nissan. It was like $3.93 yesterday and crossed over to the 4$PG for the first time this evening in NCTX. I sooo should have filled up yesterday. Ach! FARK!

I really envy you guys who only have to fill up once every couple weeks. I'm trying like hell to get more mileage out of my van, I've almost got it up to a solid 18 mpg. It was around 14.5 before I changed my habits and started using a fuel stabilizer.

/The increase is due to Lucas Fuel Injector Cleaner & driving 65 mph on the highway.
//Yes, its all highway milage
///Still have to fill up 4 times a week with a 25 gallon tank.
//Will take 430 miles on a tank as opposed to 310 all day though.
/Haven't done a bunch of slashies in a while!
 
2008-07-08 10:16:34 PM  
moeriscus:The gas station down the street from me hasn't budged from $3.99 over the past two months or so (live in Boston)...

/still at $3.99
//*shruggs*


went to work at 9:45am and the gas was $3.95........drove home with gas at $4.06...what the hell?
 
2008-07-08 10:16:42 PM  
http://www.rense.com/general75/zoil.htm
 
2008-07-08 10:16:52 PM  
I know subby's being ironic, but it's actually true: gas prices will drop at least 15 cents within a week from this news.

It's basic evolution of the United States economy: since the country's inception, its citizens/taxpayers have been actively searching for methods to expedite activity, almost always to amazing success. As the spenders became faster, so did their economy.

The credit crisis has had a lot to do with it. Credit cards made consumership all the more rapid. However, the economy wasn't prepared for the dream that was credit cards, so it became basically bloated. There was plenty of sustainability, but not enough movement. Once the economy had a chance to digest credit cards, then everything started catching up with Americans. Including gas prices. Everything has an immediate turn-over time now. And it'll only get faster.
 
2008-07-08 10:18:05 PM  
They're oil *futures*, submitter... it's not the price the gas station down the road is paying for their last delivery of consumer gasoline.

I am betting submitter also thinks if we passed legislation to drill offshore or in ANWAR, it would be about 3 days instead of the actual 13 years before he saw a price drop. Ignorance is bliss, I guess.
 
2008-07-08 10:18:51 PM  
buttertownmayor:I know subby's being ironic, but it's actually true: gas prices will drop at least 15 cents within a week from this news.

It's basic evolution of the United States economy: since the country's inception, its citizens/taxpayers have been actively searching for methods to expedite activity, almost always to amazing success. As the spenders became faster, so did their economy.

The credit crisis has had a lot to do with it. Credit cards made consumership all the more rapid. However, the economy wasn't prepared for the dream that was credit cards, so it became basically bloated. There was plenty of sustainability, but not enough movement. Once the economy had a chance to digest credit cards, then everything started catching up with Americans. Including gas prices. Everything has an immediate turn-over time now. And it'll only get faster.


So long as they stay down 9 bucks a barrel a week from now, sure. The possibility of that though is about on par with me trying out and being placed in the starting lineup for the Rays DH slot.

/I could kick Cliff Floyd's ass.
//If he was crippled.
 
2008-07-08 10:19:24 PM  
moeriscus:The gas station down the street from me hasn't budged from $3.99 over the past two months or so (live in Boston)...

/still at $3.99
//*shruggs*


I envy you...........you bastard!
 
2008-07-08 10:19:57 PM  
gas prices are nearly immune to the effects of gravity
 
2008-07-08 10:20:03 PM  
Tacoby Bellisbury:Yay bus pass! $55 a month FTW!

yeah good for you. But it's over an hour for me on 2 buses to get to work, vs a 4 mile/15 min drive.
 
Displayed 50 of 193 comments

First | « | 1 | 2 | 3 | 4 | » | Last | Show all



This thread is archived, and closed to new comments.

Continue Farking
Submit a Link »






Report