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(NASDAQ)   Experts: "rising demand for oil around the world and supply concerns stemming from Iran sanctions are driving prices at the pump"   (nasdaq.com ) divider line
    More: Interesting, sanctions against Iran, Iran, Dow Jones Newswires, U.S. Energy Information Administration, Senate Hearing, oil exports, crude oil  
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1279 clicks; posted to Politics » on 31 Mar 2012 at 1:04 PM (4 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



Voting Results (Smartest)
View Voting Results: Smartest and Funniest

2012-03-31 01:03:13 PM  
13 votes:
1. The US purchases no Iranian oil and has not for years.
2. US oil demand, the highest in the world, is the lowest it's been since the 1990s.
3. Speculation is absolutely occurring and raising the price. You're simply wrong if you say otherwise. That's just a fact.
4. Speculation is legal and occurs in every other commodity, and in each of those is responsible for at least some price rise, so pretending it isn't happening is like pretending the sun didn't rise today.
5. The same people who say that oil speculation is good for a free market also refuse to end tax breaks to the most profitable businesses in the country, on the grounds that a fair market is bad.
6. There is a sharp disconnect between gas prices, gas demand, and oil prices. Oil prices rise, triggering an instant gas price rise when the supply of higher oil won't reach the pump as gas for a month at minimum. The rise in price also reduces the demand for gas.
7. Supply is relatively constant. Oil production does not vastly increase or decrease on a daily basis, and Iran has been cut off for some time.

Combine all this together, and you have steady supply, rising prices, falling demand and only one variable: speculation.

Now tell me again how speculation can't be raising prices, or disprove any of the above.
2012-03-31 07:12:54 PM  
2 votes:
god damn there's a lot of stupid in this thread.
2012-03-31 01:17:54 PM  
2 votes:

GAT_00: 1. The US purchases no Iranian oil and has not for years.
2. US oil demand, the highest in the world, is the lowest it's been since the 1990s.


1. Europe/India/China buy oil from Iran. If the sanctions are cutting off their access to Iranian oil, they'll buy oil from the same places that the US buys oil from.
2. The US buys oil from the same markets and thus at the same prices as Europe/India/China, so higher demand in those markets (mainly the last two) does affect our prices.
2012-03-31 01:14:24 PM  
2 votes:
Wait, are you trying to say that the entire RW narrative about Obama deliberately keeping the price of gas high because he's A) Got the power to do so B) Likes making Americans suffer and C) Is the libbiest eniviro-wacko EVAH is some kind of untruth?

Obvious tag gone golfing or something?

/My favorite RW pundits are the ones who complain about the high price of gas and then without even drawing breath go on to demand military adventurism in Iran.
//Never gets old.
2012-04-01 04:09:27 PM  
1 vote:

GAT_00: 1. The US purchases no Iranian oil and has not for years.
2. US oil demand, the highest in the world, is the lowest it's been since the 1990s.
3. Speculation is absolutely occurring and raising the price. You're simply wrong if you say otherwise. That's just a fact.
4. Speculation is legal and occurs in every other commodity, and in each of those is responsible for at least some price rise, so pretending it isn't happening is like pretending the sun didn't rise today.
5. The same people who say that oil speculation is good for a free market also refuse to end tax breaks to the most profitable businesses in the country, on the grounds that a fair market is bad.
6. There is a sharp disconnect between gas prices, gas demand, and oil prices. Oil prices rise, triggering an instant gas price rise when the supply of higher oil won't reach the pump as gas for a month at minimum. The rise in price also reduces the demand for gas.
7. Supply is relatively constant. Oil production does not vastly increase or decrease on a daily basis, and Iran has been cut off for some time.

Combine all this together, and you have steady supply, rising prices, falling demand and only one variable: speculation.

Now tell me again how speculation can't be raising prices, or disprove any of the above.


It does not matter how much oil we purchase from Iran. Oil is a global commodity with many producers and sellers. A concern about the availability of Iranian oil affects the people who do use it like Europe, India and China. If oil is cut off from Iran, those countries will now have to start consuming Norwegian, Canadian, US and Russian Oil at an increased rate.

Decrease in supply, static or increased demand = increase in price. Speculators simply bet on the likelyhood of this happening

Since you failed ECON101, there's really no reason to address anything else you've said.
2012-03-31 09:07:05 PM  
1 vote:
All the previous BS aside....
DUH!

It's the only real thing the President can do to affect gas prices...
Fark with Iran, and Iran farks back.

/Sounds like something Ron Paul would say except without the fark.
2012-03-31 02:10:12 PM  
1 vote:

tenpoundsofcheese: Pants full of macaroni!!: Don't Troll Me Bro!: Hey, right-wingers...
1) He can't be both doing everything in his power to piss everybody off and doing nothing but taking actions to get re-elected at the same time.
2) He can't be both an ultra-powerful megalomaniac hellbent on destroying America and also a lazy do-nothing at the same time.

He can and is. He is all things to all people. Most of them very, very bad.

same as always.
Remember Bush was both the stupidest President ever as well as the guy who was ablle to convince Congress to go to war in order to fulfill the agenda of the Trilarteral Commission and get all that oil for blood.


No, Bush was the idiot. Rove and Cheney were the master manipulators.

Get it right!
2012-03-31 02:07:17 PM  
1 vote:
The Economist had a piece on oil speculation, I think it was four issues back. On a $125 barrel of oil, speculation accounted for $8.

You know how conservatives engage in this magical wishful fantasy world, where more drilling in the US will somehow end imports and knock 30 or 40% off prices?

"B-b-b-but speculation!" is the left's version of that.

Its expensive. Its going to get more expensive. The fact that many costs are externalized screws up price signals that would otherwise make it even more expensive. The only answers are to use less, make alternatives viable, or bend over and pay.

Those three choices. No magic solutions. None.
2012-03-31 01:36:44 PM  
1 vote:
Gas prices are only going to continue to rise. Either accept a lower standard of living or make more money. There's no other option. Government isn't going to save you.
2012-03-31 01:36:24 PM  
1 vote:
Anyone complaining about the price of gas, without following up about how we need to get the fark off crude oil and onto alternative energy as soon as possible, should sign up for the Special Olympics immediately.

The fact that we're resorting to extracting from something called "tar sands" means the supply is already farked, and most of what remains is controlled by unstable OPEC shiatholes. If you don't want our country pushing hard towards alternative energy, that's fine--just don't complain about the price. There's no excuse to be blindsided by this every time it happens.
2012-03-31 12:42:39 PM  
1 vote:
This is not a repeat from the minute after the dinosaurs got too big and fat and all died and became oil.

www.wearysloth.com
 
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