andrewinorlando
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- Oct 18, 2004
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Don't forget the Cabbage Patch kids!!
Steep Drop in the Price of Gasoline and Fuel-oil
- Thread starter toggleswitch2
- Start date
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Currency fluctuations certainly made things worse here in the US, no question about that. However, prices spiked even in Europe and Australia where the weak U.S. dollar helped offset increased prices.
I think the problem many people have with accepting that this is a supply and demand issue is that in the past the only time we've seen rapid price escalations like earlier this year was during the two energy crises of the '70s, and in both cases those situations were driven by collusion (OPEC nations agreeing to drastically raise prices through artificial shortages). Otherwise, supply and demand drove prices up and down but only slowly. So, it's natural to assume there was some sort of political collusion at work this summer too. The point I was trying to make is that the gradual changes which have taken place in the world oil industry in the last 20 years have combined with a significant reduction in excess capacity in both exploration and refining to produce a situation where the effects of supply and demand are leveraged and lead to wild fluctuations like we've had this year.
I think the problem many people have with accepting that this is a supply and demand issue is that in the past the only time we've seen rapid price escalations like earlier this year was during the two energy crises of the '70s, and in both cases those situations were driven by collusion (OPEC nations agreeing to drastically raise prices through artificial shortages). Otherwise, supply and demand drove prices up and down but only slowly. So, it's natural to assume there was some sort of political collusion at work this summer too. The point I was trying to make is that the gradual changes which have taken place in the world oil industry in the last 20 years have combined with a significant reduction in excess capacity in both exploration and refining to produce a situation where the effects of supply and demand are leveraged and lead to wild fluctuations like we've had this year.
Toggles,
I am so glad you asked us all to play nice.
Of course, it's purely supply and demand. And how does that change things?
Last night, an old client rang me up late in the evening. I was so not looking forward to anything but bed. Bad day, bad week.
But hell, business is business and pecunia non olet and all that there capitalist stuff I don't understand with my marxist-leninist-fascist brain. I do know that people who need translations done late at night on a Friday are not the ones driving the market, the seller (me) is. That much my pea-brain comprehends. In there between the rocks, straw and this echo which makes understanding all those brilliant supply-side economists hard.
Did the translation, called for a courier, sent off the bill.
Double rates plus.
And they even said thank you.
So yeah, I fcuked them, but I did it with a kiss.
A seller's market.
Oil is a seller's market, too. Look at the price to produce the stuff and the price to store it and then tell me we are hurting those folks. They are crying all the way to the bank. In their brand new Rolls, the ashtrays being full in yesterday's, it was time for a new one.
I am so glad you asked us all to play nice.
Of course, it's purely supply and demand. And how does that change things?
Last night, an old client rang me up late in the evening. I was so not looking forward to anything but bed. Bad day, bad week.
But hell, business is business and pecunia non olet and all that there capitalist stuff I don't understand with my marxist-leninist-fascist brain. I do know that people who need translations done late at night on a Friday are not the ones driving the market, the seller (me) is. That much my pea-brain comprehends. In there between the rocks, straw and this echo which makes understanding all those brilliant supply-side economists hard.
Did the translation, called for a courier, sent off the bill.
Double rates plus.
And they even said thank you.
So yeah, I fcuked them, but I did it with a kiss.
A seller's market.
Oil is a seller's market, too. Look at the price to produce the stuff and the price to store it and then tell me we are hurting those folks. They are crying all the way to the bank. In their brand new Rolls, the ashtrays being full in yesterday's, it was time for a new one.
Andrew, thanks for providing us with a course in Economics 101. Now allow me to give a brief course in Economics 201:
The production and price of oil is controlled by a cartel between OPEC and the major U.S. and U.K. oil corporations. The energy price insanity of the last seven years has had absolutely nothing to do with supply, demand or so-called dollar hegemony. It has had everything to do with political instability of oil reserves, primarily in the Middle East but also in Venezuela and anywhere else these reserves exist.
These facts are not even controversial: the record of Bush and Cheney speaks for itself. Simply read any speech given by Mr. Cheney or Mr. Bush in the last seven years. They've spent their time in office doing virtually nothing else, except intentionally undermine political stability in the Middle East, Venezuela and elsewhere. Every speech, every foreign policy decision, every rattling of their war sabres has meant more fear, more political instability, higher and higher oil prices, and TENS OF BILLIONS OF DOLLARS OF PURE PROFIT -- EVERY QUARTER -- FOR THEIR FAMILIES AND FRIENDS IN THE OIL BUSINESS.
This unprecedented despotism is finally coming to an end, and oil prices are reverting to their former cartel-controlled levels.
The production and price of oil is controlled by a cartel between OPEC and the major U.S. and U.K. oil corporations. The energy price insanity of the last seven years has had absolutely nothing to do with supply, demand or so-called dollar hegemony. It has had everything to do with political instability of oil reserves, primarily in the Middle East but also in Venezuela and anywhere else these reserves exist.
These facts are not even controversial: the record of Bush and Cheney speaks for itself. Simply read any speech given by Mr. Cheney or Mr. Bush in the last seven years. They've spent their time in office doing virtually nothing else, except intentionally undermine political stability in the Middle East, Venezuela and elsewhere. Every speech, every foreign policy decision, every rattling of their war sabres has meant more fear, more political instability, higher and higher oil prices, and TENS OF BILLIONS OF DOLLARS OF PURE PROFIT -- EVERY QUARTER -- FOR THEIR FAMILIES AND FRIENDS IN THE OIL BUSINESS.
This unprecedented despotism is finally coming to an end, and oil prices are reverting to their former cartel-controlled levels.
Jeff,
I am so glad you're here. It's folks like you who give me hope.
The last time I mentioned what the US liked like after Clinton (balanced budget, full employment, respected in all the world) I got hit with, "but it was only nominally balanced, not really -0-."
Yeah, ok, my few billions are smaller than your trillions. You fans of shrub have the bigger ones.
Happy now? Thanks ever so much. Don't let the door hit your sorry asses on the way back to Texas.
Sheesh, no wonder there are so many nice folks in Texas. They make the in-duh-vi-duals all leave the state.
I am so glad you're here. It's folks like you who give me hope.
The last time I mentioned what the US liked like after Clinton (balanced budget, full employment, respected in all the world) I got hit with, "but it was only nominally balanced, not really -0-."
Yeah, ok, my few billions are smaller than your trillions. You fans of shrub have the bigger ones.
Happy now? Thanks ever so much. Don't let the door hit your sorry asses on the way back to Texas.
Sheesh, no wonder there are so many nice folks in Texas. They make the in-duh-vi-duals all leave the state.
andrewinorlando
Well-known member
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- Oct 18, 2004
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Jeff, go back to school....you too Keven.
<blockquote><blink>Happy now? Thanks ever so much. Don't let the door hit your sorry asses on the way back to Texas.
Sheesh, no wonder there are so many nice folks in Texas. They make the in-duh-vi-duals all leave the state.</blink></blockquote>Hey, when all ya'll sorry asses get back down here, maybe we can have a big sorry ass warsh-in at my house! Everybody gets a barrel of crude for a party favor from the well in my back yard. Or bring ya'lls shovels if ya'll wanna dig your own well. Can get it done easy by noon, then ya'll can warsh-up ya'lls diggin clothes. :-D
Sheesh, no wonder there are so many nice folks in Texas. They make the in-duh-vi-duals all leave the state.</blink></blockquote>Hey, when all ya'll sorry asses get back down here, maybe we can have a big sorry ass warsh-in at my house! Everybody gets a barrel of crude for a party favor from the well in my back yard. Or bring ya'lls shovels if ya'll wanna dig your own well. Can get it done easy by noon, then ya'll can warsh-up ya'lls diggin clothes. :-D
Andrew,
Don't tempt me. The more I read about this mess, the sadder it gets. Riding out this whole situation in a nice little graduate school is highly appealing.
Seriously, what part of "seller's" market do you object to? Do you know of any price competitive alternative which is readily available right now? I don't.
Don't tempt me. The more I read about this mess, the sadder it gets. Riding out this whole situation in a nice little graduate school is highly appealing.
Seriously, what part of "seller's" market do you object to? Do you know of any price competitive alternative which is readily available right now? I don't.
toggleswitch2
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- May 23, 2008
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- 5,000
Wow. Thanks to all for some intersting perspectives.
iheartmaytag
Well-known member
Alls I can say is:
When one has a Jeep with a 23 gallon tank, one is very happy to see gas at $1.65 this morning.
At one time it was costing me $75 to fill up, I filled for $27.50 the other day. I'm so happy, I can actually afford to drive to work and eat in the same week.
When one has a Jeep with a 23 gallon tank, one is very happy to see gas at $1.65 this morning.
At one time it was costing me $75 to fill up, I filled for $27.50 the other day. I'm so happy, I can actually afford to drive to work and eat in the same week.
