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(Yahoo)   Government shutdown causes oil prices drop for some damn reason   (news.yahoo.com) divider line 58
    More: Strange, government shutdown, heating oil, New York Mercantile Exchange, crude oil, budget crisis  
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3492 clicks; posted to Main » on 02 Oct 2013 at 12:05 PM (51 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-10-02 12:06:45 PM
Less government is good for business and consumers benefit.

It's not really hard to figure out.
 
2013-10-02 12:07:00 PM
Because the government isn't buying oil?

//just spitballing here
 
2013-10-02 12:07:46 PM
I blame George Bush Obama the III.
 
2013-10-02 12:08:41 PM
Obama's Department of High Gas Prices is on furlough. Duh.
 
2013-10-02 12:10:12 PM
Gold prices are dropping like a stone. I have no idea why. One would think that in a crisis, more people would be buying gold, and the price would soar. The only explanation I can think of is that someone is quietly dumping millions of ounces.
 
2013-10-02 12:11:58 PM
Oil prices are based on the stock market which is heading downward from what appears to be the shutdown.

Of course those are oil futures, not the spot price
 
2013-10-02 12:12:50 PM

GentlemanJ: Gold prices are dropping like a stone. I have no idea why. One would think that in a crisis, more people would be buying gold, and the price would soar. The only explanation I can think of is that someone is quietly dumping millions of ounces.


That shiat has been way over valued for awhile.  Maybe we've reached the limits of irrationality.
 
2013-10-02 12:13:18 PM
Welp, keep it shut down for a while then.
and while you are at it... remove the Fed Tax until the Gov't decides to work.
 
2013-10-02 12:13:25 PM

GentlemanJ: Gold prices are dropping like a stone. I have no idea why. One would think that in a crisis, more people would be buying gold, and the price would soar. The only explanation I can think of is that someone is quietly dumping millions of ounces.


Gold's been going down for a while now as people take that money and invest it in other things.
 
2013-10-02 12:13:41 PM
Because "fark you", that's why
 
2013-10-02 12:15:34 PM
I am considering investment options for the eventual destruction of the economy. Should I invest in Chinese currency, or simply purchase large quantities of ammunition and canned goods?
 
2013-10-02 12:16:19 PM
Economy goes down the shiatter -> less demand for resources -> lower prices.

On the flip side:

Lower prices -> more spending -> better economy.
 
2013-10-02 12:16:36 PM

DarnoKonrad: GentlemanJ: Gold prices are dropping like a stone. I have no idea why. One would think that in a crisis, more people would be buying gold, and the price would soar. The only explanation I can think of is that someone is quietly dumping millions of ounces.

That shiat has been way over valued for awhile.  Maybe we've reached the limits of irrationality.


One can only hope. Probably helps that Beck isn't shilling on cable anymore.
 
2013-10-02 12:17:28 PM

Dimensio: I am considering investment options for the eventual destruction of the economy. Should I invest in Chinese currency, or simply purchase large quantities of ammunition and canned goods?


Don't forget the weed.
 
2013-10-02 12:17:57 PM

dabbletech: Dimensio: I am considering investment options for the eventual destruction of the economy. Should I invest in Chinese currency, or simply purchase large quantities of ammunition and canned goods?

Don't forget the weed.


That is part of "recreational stockpiling", rather than "investment".
 
2013-10-02 12:18:42 PM

AverageAmericanGuy: Less government is good for business and consumers benefit.

It's not really hard to figure out.



Exactly.


GentlemanJ: Gold prices are dropping like a stone. I have no idea why. One would think that in a crisis, more people would be buying gold, and the price would soar. The only explanation I can think of is that someone is quietly dumping millions of ounces.


What crisis? Do you mean the "crisis"?
 
2013-10-02 12:20:56 PM
s.wsj.net
Well they was too damn high to begin with...
 
2013-10-02 12:23:00 PM

AverageAmericanGuy: Less government is good for business and consumers benefit.

It's not really hard to figure out.


No. It's for the same reason that gas prices at the pump go up when oil prices go up, even though they won't be using that oil for 6-8 months, and it hasn't even been processed yet. Even though you won't see a reverse effect when oil prices drop. Because the oil/gas industry is insane.

Actually, the article quotes a good reason. Government shutdown equals 800K workers not commuting, so demand drops in the short term. Oil futures are closely tied to U.S. demand for gas, since we consume a large portion of the world's supply.

/also, the oil/gas industry is insane.
 
2013-10-02 12:23:51 PM
May have something to do with the 700,000 people and their families with no cheque coming in. Not to mention a lot of delayed social security, healthcare and other cheques. In an economy where the business and the consumer sectors have failed, government is the only engine still pulling the economy train along.

The Jobby McJobmakers are sitting on their money or else making sure the jobs lost during the Recession will never return, not even in Bangladesh. The Jobby McJobmakers aren't in business to make well-paying jobs. They are in business to make money and thus to take jobs and pay away from workers as much as the market will allow, with help from the Central Bankers and their Government friends, the Taxey McTaxcutters who make sure the highest tax rates are heaped on those who earn the median wage or salary, say $35,000 to $55, 000 a year.

The consumers haven't seen much respite despite massive government support. It's always a bad idea to give money to people with too much money. They don't need it and they don't spend it. The multiplier effect on giving money to the poor is highest. Giving money to the middle-classes will boost spending and growth.

INCOME TAX CUTS ONLY HELP THOSE WHO PAY TAXES. THAT'S A MINORITY OF THE RICH AND MIDDLE CLASS. THE VERY POOR HAVE NO INCOMES. THE VERY RICH PAY SQUAT ALL IN INCOME TAXES, ALTHOUGH IT AMOUNTS TO MOST OF THE TAXES PAID.
 
2013-10-02 12:32:14 PM
Obama and Reid need to keep the Obama/Reid "no negotiation shutdown" rolling.  Go Reid!  Go Obama!  Keep it shut it down!
 
2013-10-02 12:34:18 PM
Because no one's watching the strategic reserve anymore and Exon was last seen buying realllly long bendy straws?
 
2013-10-02 12:35:01 PM
Government shutdown means less economic activity--despite what Fox News may want you to believe. Less economic activity means less energy consumed. Less energy consumed means lower demand for oil. Lower demand for oil means lower prices for oil--usually.
 
2013-10-02 12:36:23 PM

garandman1a: What crisis? Do you mean the "crisis"?


The Great Governmental Wanker Semen Embargo, of course.
 
2013-10-02 12:46:32 PM

GentlemanJ: Gold prices are dropping like a stone. I have no idea why. One would think that in a crisis, more people would be buying gold, and the price would soar. The only explanation I can think of is that someone is quietly dumping millions of ounces.


Sorry, just got back from the bathroom.  What are we talking about?
 
2013-10-02 12:47:07 PM

Loaf's Tray: [s.wsj.net image 553x369]
Well they was too damn high to begin with...


When will Samuel L. Jackson make this guy's life story?
 
2013-10-02 12:47:46 PM

Loaf's Tray: [s.wsj.net image 553x369]
Well they was too damn high to begin with...


Is that George Washington Carver?  Who still has facial hair like that?
 
2013-10-02 12:48:07 PM

AverageAmericanGuy: Less government is good for business and consumers benefit.

It's not really hard to figure out.


*giggle*

*golf clap*
 
2013-10-02 12:50:41 PM
I haven't been watching it real close but oil/commodities have been trending down for quite a while now.
 
2013-10-02 12:51:36 PM
Vacationing to the National Parks will be down too.

Why I camp off roads in National Forests.
 
2013-10-02 12:52:02 PM
Oil is up $1.70 a barrel.  Don't know what Smits was posting about.

Wendy's Chili: Government shutdown means less economic activity--despite what Fox News may want you to believe. Less economic activity means less energy consumed. Less energy consumed means lower demand for oil. Lower demand for oil means lower prices for oil--usually.


The stock market rallied when the Government shut down in 1996.  If you really want to see economic activity ramp up, get the Federal Government out of the way.
 
2013-10-02 12:55:26 PM
I keep hoping the Canadian dollar will make a break out and run for parity again, but it's flatter than the last glass of no-name cola in a 2-litre bottle.

I guess low gasoline prices are one reason why nothing is happening with the Looney.

Gee, you'd think a US Government shutdown would be Looney Heaven.

I'll never understand the currency markets or gold buggers.
 
2013-10-02 12:57:06 PM
So the party that's been biatching for 6 years about how Obama's wrecked the economy because gas prices were so great in the last 2 months of the Bush presidency, chooses the comments section of an article that gas prices are coming down to complain about Obama? Makes perfect sense.

Failing to realize that gas prices are linked to the greater economy as well as supply and demand and thinking they're linked to the president also makes perfect sense. Republicans, the party that gets it.
 
2013-10-02 12:58:18 PM
Odds are, the price impacts of the shutdown were already spread-out in the weeks leading up to it. The stock traders who get rich don't act on what happened in the past so much as what they think will happen in the future. The ones who bet on the shutdown coming took that into account a month ago.

Oil has been going down for some time now. Heck, I bought premium for $3.22/gal last week. So the fact it continued to drop wouldn't have been a surprise without a shutdown.
 
2013-10-02 01:00:26 PM
www.google.com

The above represents:

a) a cross-section of Nevada
b) the Canadian dollar
c) John Boehner's chance of becoming President relative to Obama's chance of being re-elected
 
2013-10-02 01:05:10 PM

squirrelflavoredyogurt: So the party that's been biatching for 6 years about how Obama's wrecked the economy because gas prices were so great in the last 2 months of the Bush presidency, chooses the comments section of an article that gas prices are coming down to complain about Obama? Makes perfect sense.

Failing to realize that gas prices are linked to the greater economy as well as supply and demand and thinking they're linked to the president also makes perfect sense. Republicans, the party that gets it.


Do we really need to break this out again?

www.majhost.com
 
2013-10-02 01:08:54 PM

airplayne: Loaf's Tray: [s.wsj.net image 553x369]
Well they was too damn high to begin with...

Is that George Washington Carver?  Who still has facial hair like that?


I did a GIS for "bizarre facial hair".

In answer to your question:

a) hipsters
b) religious fanatics from West, Central and South Asia
c) circus freaks* and competitive facial hair contestants

*includes wolf girls and bearded ladies
 
2013-10-02 01:26:42 PM
Damned speculators artificially driving the price of oil down!!!
 
2013-10-02 01:39:21 PM
One thing the shutdown has down - eliminated the usual DC traffic nightmares.
 
2013-10-02 01:47:35 PM
When the economy is in the sh*tter, or people think it's about to go in the sh*tter, oil prices (then gas prices) go down. During the height of the "Great Recession" gas was down to $1-something in some places.
 
2013-10-02 01:51:20 PM
Hey, let's all take a vacation, let prices hit rock bottom.. Have a social gathering to purchase billions of barrels of oil, then resume our daily business circumventing the usual suspects.
 
2013-10-02 02:09:49 PM

okiemule: AverageAmericanGuy: Less government is good for business and consumers benefit.

It's not really hard to figure out.

No. It's for the same reason that gas prices at the pump go up when oil prices go up, even though they won't be using that oil for 6-8 months, and it hasn't even been processed yet. Even though you won't see a reverse effect when oil prices drop. Because the oil/gas industry is insane.

Actually, the article quotes a good reason. Government shutdown equals 800K workers not commuting, so demand drops in the short term. Oil futures are closely tied to U.S. demand for gas, since we consume a large portion of the world's supply.

/also, the oil/gas industry is insane.


We actually don't consume as much as you might think. Oil prices drop based on international demand. Someone thinks that the entire global economy is going to slow down, possibly because of the political problems in the US leading to financial instability elsewhere if Congress decides to not allow us to pay our debt service. That would trigger a drop in the US credit rating, and that hurts the entire global financial industry because nothing is as rock solid as the US economy even now. That would lead to far greater economic woes overseas more than it would here, I think.. Our immediate drop in oil demand is not going to affect global prices the way it did 10 years ago. There are bigger players out there now that the market is more concerned with.

I hate seeing oil prices drop much at all because it heralds tough times all around.
 
2013-10-02 02:12:03 PM
Oil now up $2.05.

BolloxReader:  I hate seeing oil prices drop much at all because it heralds tough times all around.

Not when you factor in the speculation.  Oil's real value is in the low $80 range.
 
2013-10-02 02:36:30 PM

super_grass: Economy goes down the shiatter -> less demand for resources -> lower prices.

On the flip side:

Lower prices -> more spending -> better economy.


And better economy -> more demand for resources -> higher prices
To which:
Higher prices -> less spending -> worse economy


So what you are saying is that a good economy leads to a bad economy which leads to a good economy?
 
2013-10-02 02:36:46 PM

KingKauff: Because "fark you", that's why


I thought that was why oil prices went up. Now I must rethink everything I know.
 
2013-10-02 02:38:53 PM

brantgoose: May have something to do with the 700,000 people and their families with no cheque coming in.


Compare this to one of those chain emails telling you to boycott gas on a specific day - it hasn't been long enough for it to impact the market that much. This is likely all about the speculators getting out while the gettin' is good.
 
2013-10-02 02:42:04 PM
THANKS OBAMA
 
2013-10-02 02:42:05 PM

Loaf's Tray: Well they was too damn high to begin with...


Y'know...there is a point where you stretch uniqueness so far it ventures into satire.


------
And forgive my ignorance on this, but since I don't recall it being mentioned on these threads, how will this thing end? Is it time bound? Approval of budget? Voting?


/so worried that this will be the straw that breaks society's back. With unemployment as it is, inflation and now government grinding to a halt
 
2013-10-02 02:56:15 PM

Resident Muslim: /so worried that this will be the straw that breaks society's back. With unemployment as it is, inflation and now government grinding to a halt


IIRC things were actually worse when Occupy spun up, and look how that fizzled...
 
2013-10-02 03:26:10 PM

brantgoose: I keep hoping the Canadian dollar will make a break out and run for parity again, but it's flatter than the last glass of no-name cola in a 2-litre bottle.

I guess low gasoline prices are one reason why nothing is happening with the Looney.

Gee, you'd think a US Government shutdown would be Looney Heaven.

I'll never understand the currency markets or gold buggers.


If your two posts thus far are an indication, you won't ever understand much of anything.
 
2013-10-02 03:45:52 PM

Wendy's Chili: Government shutdown means less economic activity--despite what Fox News may want you to believe. Less economic activity means less energy consumed. Less energy consumed means lower demand for oil. Lower demand for oil means lower prices for oil--usually.


I'M GONNA PUT A GOD DAMNED FINGER IN YOU.
 
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