loogie 115 Posted July 29, 2008 Share Posted July 29, 2008 I'm an independent voter, and this is my number one concern. My Democrat friends tell me that Bush in the White House is responsible for the ridiculous increase in the price of gasoline, yet my Republican brother tells me that it's because of the Democrats controlling Congress. I'm torn.Someone with knowledge on the subject please enlighten me. Link to post Share on other sites
hblask 1 Posted July 29, 2008 Share Posted July 29, 2008 LOL....As if politicians have the ability to control gas prices. They can't even control their own impulses.Let's look at the problem.... Hmmm, increasing demand, fixed or slowly growing supply, finite resource. Why oh why would prices go up? Yeah, it must be politicians, that's it. Link to post Share on other sites
CaneBrain 95 Posted July 29, 2008 Share Posted July 29, 2008 I'm an independent voter, and this is my number one concern. My Democrat friends tell me that Bush in the White House is responsible for the ridiculous increase in the price of gasoline, yet my Republican brother tells me that it's because of the Democrats controlling Congress. I'm torn.Someone with knowledge on the subject please enlighten me.The real problem is increased overall demand due to the rapid industrialization of China and India.Blaming the Democrats is lunacy.....the GOP just started this drill offshore kick a few months ago. Blaming Bush just because he used to be a Texas oilman may feel good but it has little credibility either.You could say Bush and his administration are indirectly responsible because their "lets have two wars AND cut taxes party AND spend foolishly" plan has saddled us with a record deficit and consequently this deficit has dragged down the value of the dollar. Oil is traded in dollars so what hurts the dollar hurts us at the gas pump. However, that only accounts for some of the gas price increase, not all of it by a long shot. Link to post Share on other sites
El Guapo 8 Posted July 29, 2008 Share Posted July 29, 2008 It is a combination of many different things, the obv ones being increased demand, the sagging dollar and OPEC manipulation, and negative news about middle east and storms cause immediate changes. But there has also been a lot of market manipulation from the US commodity markets, but most likely the largest culprit is Pension plans and Institutional investors 2.5 years ago being allowed to purchase oil futures in their plans. The amount of dollars that have been invested in the last 5 years in Oil has gone from 13 Billion to 260 Billion.This is not a democratic or republican thing. I personally believe we would not be as bad off as we are if the drilling bans were lifted, but that will take 3-7 years to affect anything long term.My personal belief is we see $3.00 a gallon gas by the end of the year.EDIT: 2 weeks ago, pension were re-restricted from purchasing any new oil futures. That seems to coincide quite nicely with the almost 20% decline in oil prices in the last 2 weeks. Link to post Share on other sites
loogie 115 Posted July 29, 2008 Author Share Posted July 29, 2008 LOL....As if politicians have the ability to control gas prices. They can't even control their own impulses.Let's look at the problem.... Hmmm, increasing demand, fixed or slowly growing supply, finite resource. Why oh why would prices go up? Yeah, it must be politicians, that's it.Thanks for not being a cockass.Would you say that the price increase is directly proportional to the factors you listed? Link to post Share on other sites
hblask 1 Posted July 29, 2008 Share Posted July 29, 2008 Thanks for not being a cockass. Would you say that the price increase is directly proportional to the factors you listed?OK, I was being slightly snotty, and gave a simplistic answer. The posts after mine answer your question more thoroughly, it's all the factors mentioned there, but nobody really knows in what proportion. Link to post Share on other sites
loogie 115 Posted July 29, 2008 Author Share Posted July 29, 2008 The real problem is increased overall demand due to the rapid industrialization of China and India.Ah, so we're F'd in the A. I assume Al Gore is doing something about all the Man Bear Pig Global Warming this is causing.I'm going to go research mopeds now. Link to post Share on other sites
El Guapo 8 Posted July 29, 2008 Share Posted July 29, 2008 Ah, so we're F'd in the A. I assume Al Gore is doing something about all the Man Bear Pig Global Warming this is causing.I'm going to go research mopeds now.Ummm, did you even read my post? Link to post Share on other sites
nutzbuster 7 Posted July 29, 2008 Share Posted July 29, 2008 It is a combination of many different things, the obv ones being increased demand, the sagging dollar and OPEC manipulation, and negative news about middle east and storms cause immediate changes. But there has also been a lot of market manipulation from the US commodity markets, but most likely the largest culprit is Pension plans and Institutional investors 2.5 years ago being allowed to purchase oil futures in their plans. The amount of dollars that have been invested in the last 5 years in Oil has gone from 13 Billion to 260 Billion.This is not a democratic or republican thing. I personally believe we would not be as bad off as we are if the drilling bans were lifted, but that will take 3-7 years to affect anything long term.My personal belief is we see $3.00 a gallon gas by the end of the year.EDIT: 2 weeks ago, pension were re-restricted from purchasing any new oil futures. That seems to coincide quite nicely with the almost 20% decline in oil prices in the last 2 weeks.This answer ^Plus we reacted to the market prices, stopped driving so much, used less, reduced demand, the national sentiment began to sway heavily towards drilling again, and BOOM! bubble burst.Gotta love capitalism at work. Link to post Share on other sites
whatgreatis 0 Posted July 29, 2008 Share Posted July 29, 2008 I'm the one person who voted. Guess who's responsible? Link to post Share on other sites
loogie 115 Posted July 29, 2008 Author Share Posted July 29, 2008 Ummm, did you even read my post?Yes, but I had to masturbate.My personal belief is we see $3.00 a gallon gas by the end of the year.That's a start. How come I keep hearing things about $5/gallon gas? Link to post Share on other sites
El Guapo 8 Posted July 29, 2008 Share Posted July 29, 2008 Yes, but I had to masturbate.That's a start. How come I keep hearing things about $5/gallon gas?Don't listen to the media.Oil was down almost $3 a barrel today again. IN the last 2 weeks it down to 122.19 a barrel, down from 147 and change. That is 17% in 2 weeks.In CA I am seeing 3.99 a gallon already. Link to post Share on other sites
AmScray 355 Posted July 30, 2008 Share Posted July 30, 2008 This is one of those issues where you can accurately gauge ones IQ based on the answer they give. Link to post Share on other sites
El Guapo 8 Posted July 30, 2008 Share Posted July 30, 2008 This is one of those issues where you can accurately gauge ones IQ based on the answer they give.That's it? No greedy Jew picture? Link to post Share on other sites
loogie 115 Posted July 30, 2008 Author Share Posted July 30, 2008 This is one of those issues where you can accurately gauge ones IQ based on the answer they give.Great. Now no one's going to voice an opinion in fear of Scram judging his intelligence or supposed lack thereof. Link to post Share on other sites
CobaltBlue 662 Posted July 30, 2008 Share Posted July 30, 2008 c) Neither Link to post Share on other sites
El Guapo 8 Posted July 30, 2008 Share Posted July 30, 2008 Great. Now no one's going to voice an opinion in fear of Scram judging his intelligence or supposed lack thereof.It doesn't matter I have already posted the answer. Link to post Share on other sites
BigLebowski 0 Posted July 30, 2008 Share Posted July 30, 2008 It doesn't matter the handsome has already posted the answer.I do think demand has much more to do with it than pensions being able to invest in it. It would be interesting to see what would happen if they didn't allow you to buy oil unless you plan to take delivery of it though. I read somewhere the other day that production is 87M barrels a day and demand is 86.5M barrels a day. Anyone confirm or deny that? Link to post Share on other sites
antistuff 0 Posted July 30, 2008 Share Posted July 30, 2008 i read that wall street was responsible. they didn't explain how though, so i don't really trust it. Link to post Share on other sites
BigLebowski 0 Posted July 30, 2008 Share Posted July 30, 2008 i read that wall street was responsible. they didn't explain how though, so i don't really trust it.it was probably part II of that story I read Link to post Share on other sites
CaneBrain 95 Posted July 30, 2008 Share Posted July 30, 2008 Great. Now no one's going to voice an opinion in fear of Scram judging his intelligence or supposed lack thereof.eh. apparently he hates my tribe anyways. Link to post Share on other sites
Paul Brevard 0 Posted July 30, 2008 Share Posted July 30, 2008 Let me put this out there for ya.I am an oil and gas landman.We use to pay $180,000 (average 600 acres) to lease a unit and $500,000 - $750,000 to drill.Now we pay mineral owners around $6,000,000 - (update) $16,000,000 (for 600 acres) for the leases and $2,000,000 - $6,000,000 to drill.That is for one well!!!If it's a dry hole, what do think happens?Just look up Haynesville Shell on the interenet.My final verdict is this. The reason is one word on the part of mineral owners, property owners, and most people involved. It's not just the oil company. It's the people that supply them with rigs, metal, land, and anything else they need to drill.GREED! Link to post Share on other sites
loogie 115 Posted July 30, 2008 Author Share Posted July 30, 2008 eh. apparently he hates my tribe anyways.I thought he was a secret member of your tribe. What with all the self-loathing, it fits.I am an oil and gas landman.If you say you're an oil man, I will agree. Link to post Share on other sites
Nimue1995 1 Posted July 30, 2008 Share Posted July 30, 2008 I believe it's all a plot to make us happy with $3.00 a gallon gasoline. Link to post Share on other sites
loogie 115 Posted July 30, 2008 Author Share Posted July 30, 2008 I believe it's all a plot to make us happy with $3.00 a gallon gasoline.Check out the IQ on this guy! Link to post Share on other sites
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