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(Yahoo)   Thanks to Hurricane Sandy you will soon be seeing $5 per gallon gas....Just kidding it's actually going to drop, no really   (finance.yahoo.com) divider line 31
    More: Spiffy, Tom Kloza, West Texas Intermediate, South Jersey, Bakken, gas prices, gasoline, East Coast  
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9283 clicks; posted to Main » on 01 Nov 2012 at 4:00 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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


Archived thread
ows
2012-11-01 07:38:42 AM
4 votes:
oil is manipulated because it's a commodity we HAVE TO USE. unlike say orange juice or pig bellies. i can drink grape juiice or eat chicken. but i HAVE to use gas.

you realize the SEC has fined wall street firms millions for OIL MARKET MANIPULATION since 2003, right?
2012-11-01 07:27:07 AM
3 votes:

SevenizGud: phrawgh: Supply and demand do not drive gas prices.

Yeah, if everyone banded together and refused to pay any more than $3.50 a gallon, they would still price it at $4, amirite?

You people who refuse supply and demand are tards. Supply and demand are pretty much the ONLY things that matter. There is contribution by political risk (Nigeria) and factors regarding the relative availability of various qualities of crude. But this tin-foil-hat nuttery about how basic economic principle falls into the void in gas prices is only believed by people who believe Karl Rove really rules the world.

Think about what you write. How could a fungible asset remain an arbitrage target? Please be less stupid.


Yeah well apparently oil isn't as fungible as everyone thinks if Romney is going to keep it all here in the US rather than allowing exports as his energy policy.

/will laugh if the "business owner" ends up destroying global trade and the economy
2012-11-01 06:57:30 AM
3 votes:

Hot Carl To Go: Why the Fark didn't diesel drop back in line with normal unleaded? After the shakeup your standard base price +.10 (mid) +.10 premium has skewed to add at least another .30 in the spread. And diesel remains priced above premium though less refined, at least here in ga. You farmers have any insight?


As you may recall, a few years back, diesel was significantly lower than gasoline. Then, EPA kicked in with the ultra-low sulfur and the price went above gasoline. Additionally, in 2010 federal diesel taxes were raised to just over $0.24 while gasoline is around $0.18. You may recall that there was a call for increasing taxes on gasoline but there was a huge public outcry. So our brilliant politicians just raised the taxes on diesel - after all, only truck drivers use diesel and they can just pass the cost along to consumers. Just about every truck freight invoice issued in the past few of years has a fuel surcharge tacked on it. Since retailers simply raise the price to cover costs, the public has been successfully taxed without raising taxes and by making truckers look like the bad guys.

At this time of the year, some diesel production is being shifted to stockpiling fuel oil for the winter which is almost identical to diesel, thus the same refineries are used and less diesel is available.

As to farmers, they generally get dyed diesel. A red dye is added to the fuel that identifies it as off-road fuel, thus used for farm equipment, construction equipment and other off-road uses. No road taxes are paid on that fuel; using it in on-road vehicles will drive a pretty hefty fine.
2012-11-01 06:09:33 AM
3 votes:

Emposter: Gas prices have nothing to do with supply. Oil is controlled by a series of massive cartels that ensure that gas/oil prices are always exactly the maximum people are willing to pay, regardless of the cost of actually getting the oil.


I remember when fuel was just over a dollar p/g. It was under $2 as recently as 2008 when demand killed the price.

While I understand that Obama doesn't have a magic switch to change these prices, I'm also angry that my earnings are stagnated while the price of damn near everything is skyrocketing. Even a farking can of tuna that I bought for sammiches is suddenly 40% higher. In a good year I make 50,000. It's typically 40k. I'll survive, but it's starting to get uncomfortable when I look at my receipts.

Still beats Romney's nebulous 'plan,' however. This whole thing is a mess.
2012-11-01 05:24:54 AM
3 votes:

phrawgh: Supply and demand do not drive gas prices.


Yeah, if everyone banded together and refused to pay any more than $3.50 a gallon, they would still price it at $4, amirite?

You people who refuse supply and demand are tards. Supply and demand are pretty much the ONLY things that matter. There is contribution by political risk (Nigeria) and factors regarding the relative availability of various qualities of crude. But this tin-foil-hat nuttery about how basic economic principle falls into the void in gas prices is only believed by people who believe Karl Rove really rules the world.

Think about what you write. How could a fungible asset remain an arbitrage target? Please be less stupid.
2012-11-01 04:28:36 AM
3 votes:
Here's an idea: if you think the price is higher than it is worth, then don't buy it.
2012-11-01 02:54:32 AM
3 votes:

Krymson Tyde: Proof positive that Fartb0ng0 controls the price of gas.


img.photobucket.com
2012-10-31 07:45:14 PM
3 votes:
What, you think demand drives pricing? I blame Wall Street for not trading through the storm to ensure high gas prices.
2012-11-01 08:41:09 AM
2 votes:
One interesting implication is that if sandy shut down auto travel in the northeast for, say, 5 days, then at the current rate of traffic fatalities per capita per day, Sandy actually saved lives as a net effect when all else is accounted for.
2012-11-01 07:46:02 AM
2 votes:

ows: oil is manipulated because it's a commodity we HAVE TO USE. unlike say orange juice or pig bellies. i can drink grape juiice or eat chicken. but i HAVE to use gas.

you realize the SEC has fined wall street firms millions for OIL MARKET MANIPULATION since 2003, right?


You know who else liked to manipulate commodity prices?
4.bp.blogspot.com
2012-11-01 07:08:30 AM
2 votes:

bmihura: jso2897: bmihura: I'll bet it goes up after the election. Any takers?

At some point after the election, the price of fuel will rise again. I also predict that it will fall again. And then rise again. Am I a genius, or what?

Specifically, exactly two months after the election, let's go with 8am EST, the price of oil will be at least 5% higher as per WTI Crude Oil here.

Any takers? I'll wager $200 via PayPal.


You mean like it does every winter?
2012-11-01 05:17:32 AM
2 votes:
They have to lay off more employees at the refinery. Being an ongoing, profitable business is no longer good enough. WE MUST SHOW GROWTH EVERY QUARTER.

Supply and demand do not drive gas prices.
2012-10-31 11:25:36 PM
2 votes:
I'm having a psychic vision! I'm predicting...the derp will be megastrong in this thread when it goes main page.
2012-11-01 12:23:52 PM
1 votes:

StoPPeRmobile: JolobinSmokin: $2.97/gallon

In Tulsa Oklahoma yesterday.

May be lower today.

Although I drive a diesel pickup so I pay $3.84/gallon right now.

/CNG station by my house is $1.47/gallon
//next truck I buy will be CNG

Same thing that happened to diesel will happen.


If it takes 30 years like it did for diesel, I'm ok with that
2012-11-01 09:37:53 AM
1 votes:

Okoboji: Mugato: I knew it.

[apsuperpac.org image 300x225]

Where the hell was this that gas was only $1.89?! Talk about blind BS.


img.photobucket.com
2012-11-01 09:24:11 AM
1 votes:
How come no one is reporting on the rioting:

Rioting during Sandy

And of course, a hot chick to stick to the gas theme:
1.bp.blogspot.com
2012-11-01 08:29:52 AM
1 votes:

NephilimNexus: I always blamed the sexual insecurity of American males compelling them to all go out & buy bigger and bigger SUVs in some sort of adolescent vicarious dick-measuring contest that drove up gas prices?


It didn't, but it drastically increased our vulnerability to price shocks. If you drive a Canyonero that costs over $100 to fill up now, you can shake your fists at Farbongo or Big Oil or whatever political boogeyman you want to blame for your mistakes, but it doesn't change your situation. You still gotta get to work.
2012-11-01 08:19:43 AM
1 votes:
It's lower already.

Also, when i'm heading a particular direction on a road trip, I go through a town that's always 15 cents cheaper than all other cities and towns surrounding it. My car always has plenty of gas to get to that point then I fill up for the trip. It helps to stop back at it on my way home.
2012-11-01 08:11:56 AM
1 votes:
But prices will go up on the West Coast. Nothing drives the prices down out here.
2012-11-01 08:09:00 AM
1 votes:

NephilimNexus: Odd, I always blamed the sexual insecurity of American males compelling them to all go out & buy bigger and bigger SUVs in some sort of adolescent vicarious dick-measuring contest that drove up gas prices?

2002: $22.81 per barrel.

2006: Third generation Cadillac Escalade introduced.

2011: $87.48 per barrel.

Of course, if you look at the history of oil prices, the most obvious real cause of price hikes is (surprise!) wars in the Middle East. So to that effect, yes you most certainly can drag US presidents into the equation. In the most recent case, for example, we can blame both Bush (for starting the war) and Obama (for not getting us out of it). See? Non-partisan venom. They all suck.


Yep. It's all due to the recent wars in the Middle East. Before Bush or Obama, the Middle East was a peaceful place, where unicorns grazed freely upon the peace grass planted by the benevolent people of the desert.
The price of oil also has nothing to due with the increased demand by China and India in the past decade. They squeeze their oil from the peasants captured in remote villages.
2012-11-01 07:10:33 AM
1 votes:
They already raised the rate here.
$4.25 a gallon.

/I don't think the price of gas is actually associated with anything anymore.
/Disaster happens? Prices up. Rack rate down? Prices up. Governor sneezed? Prices up...
2012-11-01 06:59:10 AM
1 votes:

SevenizGud: phrawgh: Supply and demand do not drive gas prices.

Yeah, if everyone banded together and refused to pay any more than $3.50 a gallon, they would still price it at $4, amirite?

You people who refuse supply and demand are tards. Supply and demand are pretty much the ONLY things that matter. There is contribution by political risk (Nigeria) and factors regarding the relative availability of various qualities of crude. But this tin-foil-hat nuttery about how basic economic principle falls into the void in gas prices is only believed by people who believe Karl Rove really rules the world.

Think about what you write. How could a fungible asset remain an arbitrage target? Please be less stupid.


Basic economic principle doesn't fall into the void, but gas prices are controled by a lot more than just supply and demand. Oil is a rather special asset in that there is no individual way to predict how a change in supply will effect a change in prices. There's no individual way to predict how a change in demand will effect a change in prices.
2012-11-01 06:24:49 AM
1 votes:

SevenizGud: phrawgh: Supply and demand do not drive gas prices.

Yeah, if everyone banded together and refused to pay any more than $3.50 a gallon, they would still price it at $4, amirite?

You people who refuse supply and demand are tards. Supply and demand are pretty much the ONLY things that matter. There is contribution by political risk (Nigeria) and factors regarding the relative availability of various qualities of crude. But this tin-foil-hat nuttery about how basic economic principle falls into the void in gas prices is only believed by people who believe Karl Rove really rules the world.

Think about what you write. How could a fungible asset remain an arbitrage target? Please be less stupid.


People would rather face a "fixable" problem than one that can't be fixed. If the market is doing what it's doing because of manipulation, that can be fixed. If it's happening because we are now living in a world of virtually bottomless demand, it can't. Obviously, people will prefer to believe the former, if they can.
2012-11-01 05:26:41 AM
1 votes:

phrawgh: They have to lay off more employees at the refinery. Being an ongoing, profitable business is no longer good enough. WE MUST SHOW GROWTH EVERY QUARTER.

Supply and demand do not drive gas prices.


Well, demand does. Even monopoly pricing schemes can't escape demand.
2012-11-01 05:05:23 AM
1 votes:
Gas prices have nothing to do with supply. Oil is controlled by a series of massive cartels that ensure that gas/oil prices are always exactly the maximum people are willing to pay, regardless of the cost of actually getting the oil.
2012-11-01 04:44:24 AM
1 votes:

Mugato: I knew it.


I've always liked that one, as if had wasn't also dirt cheap when W stepped in and it didn't also sky rocket while he was around:

zfacts.com
2012-11-01 04:33:35 AM
1 votes:
stop it, kids. Fartbongo never even worked at a gas station. incredibly wealthy people own the illusion of government and they toy with your emotions by lowering the gas price a few pennies near election day. if i was uber powerful i'd fark with the peons, too. just because i could.

and on different weeks with alternating days on a sawtooth curve i'd screw with the gun nuts, abortion rights, poor folks, raising-lowering taxes, gay marriage, minimum wage, rape rape, cost of this or that, unemployment, tax benefits for all my wealthy friends... you name it. more fun that a barrel full of monkeys.
2012-11-01 12:47:07 AM
1 votes:

BronyMedic: I'm having a psychic vision! I'm predicting...the derp will be megastrong in this thread when it goes main page.


There are some threads that simply never have a chance to remain sane.

This is one of them.
2012-10-31 08:58:54 PM
1 votes:
Well I guess Big Oil is mostly happy with Obama, bringing the price down just before the election... and promising even more before Christmas.
Sucks to be Romney if Big Oil likes likes "the socialist" more.
2012-10-31 08:25:36 PM
1 votes:
Yeah, it's free if you can skim enough off the Hudson.
2012-10-31 08:03:46 PM
1 votes:
This is just Obama using his Wall Street friends to ensure a second term in order to complete his communism dream.
 
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