crude oil

Bruins Fan · 08-14-2009, 02:04 PM

Can someone tell me why the price of gas keeps going up, when the price of crude keeps dropping?

jledou · 08-14-2009, 02:12 PM

It is supposed to be based on a straight supply and demand plus operating/production cost. Right now demand is down, supply is OK and refining capacity is at ~ 70-80% so right now I would set most of the price to speculation.

Steve · 08-14-2009, 03:07 PM

Somebody's betting on a couple of storms...

The Poet · 08-14-2009, 04:04 PM

I don't know, but I wonder - did Exxon post a record-breaking profit for the umpteenth straight time? If not, there's your answer.

forgop · 08-14-2009, 07:14 PM

Obama's in bed with "big oil"?

loki · 08-14-2009, 07:35 PM

Quote:

Originally Posted by forgop

Obama's in bed with "big oil"?

*face palm* there are any number of things you can blame the boy king for but this isn't one of them. if you remember oil hit an all time high under bush I'm all for hating obama but ya gota pick your battles.

the price of oil is going down and gas is going up for any number of reasons, fudging the refinery margins, the in house brokerage firms messing with prices, ect ect ect

Ashcan Bill · 08-14-2009, 08:19 PM

My personal opinion, with absolutely no hard empirical evidence to back it up, is it may have something to do with the government allowing the oil companies to merge, and merge, and merge again, until you now have a few vast monopolies that have driven the independents out of business. With Congress looking the other way, they can now fix prices at pretty much any level they want as long as they're generous with their campaign donations and can come up with some rationale that the media will buy.

Similar to the trusts from a hundred years ago that Teddy Roosevelt busted up.

Smokin Gator · 08-14-2009, 08:58 PM

Not that I disagree with your general premise... but the price of crude has been going up for a couple of months now.

Ratters · 08-14-2009, 09:17 PM

Price of crude is up a tad, but right now there are a lot of refineries shut down for scheduled maintenence which is pushing up the current price.

ucla695 · 08-14-2009, 09:35 PM

Quote:

Originally Posted by Smokin Gator

Not that I disagree with your general premise... but the price of crude has been going up for a couple of months now.

Yes, it has bounced from the trough and now has been teetering around $70 (flirting north and south of that). It's highly elastic on the uptick, but less so when it drops. Tends to go in the same direction as the market. Luckily, I think the super cycle has been dampened.....well, at least for now.

forgop · 08-15-2009, 10:07 AM

Quote:

Originally Posted by loki

*face palm* there are any number of things you can blame the boy king for but this isn't one of them. if you remember oil hit an all time high under bush I'm all for hating obama but ya gota pick your battles.

Didn't stop the crybaby left from uttering the same nonsense when GWB was in office, despite the fact of having absolutely NOTHING to back it up.

The Poet · 08-15-2009, 10:12 AM

And it begins. An economic question - which is allowed - turns into a political p!$$ing contest, which is not. I'm gonna go hide now.

wrench turner 85 · 08-15-2009, 10:21 AM

Quote:

Originally Posted by jledou

It is supposed to be based on a straight supply and demand plus operating/production cost. Right now demand is down, supply is OK and refining capacity is at ~ 70-80% so right now I would set most of the price to speculation.

Quote:

Originally Posted by steve

Somebody's betting on a couple of storms...

shilala · 08-15-2009, 10:29 AM

All I know is that when crude goes up, my pensions go to hell.
Right now I'm making money like George Bush.
So long as we don't dick with Iraq, I'm gonna be rich.

floydp · 08-15-2009, 09:07 PM

Ok fellers you know political rhetoric is a no no at the nut house? Lets keep the political bs out of this discussion or this thread will insight passions that do not belong on a cigar forum. At least not this one.

heavyd · 08-15-2009, 09:34 PM

The way I understand it... the price of gasoline is less dependent on the the price of oil than it is dependent on the the amount of oil that is refined into gasoline. If Exxon Mobil wants to raise the price of gas, they simple reduce the supply (refine less oil into gasoline).

I used to ponder big questions like this, but now that I've given up hope, I'm much more mellow about it all

08-16-2009, 12:07 AM

Can you say, OIL SPECULATORS?? Just my

Now, back to

08-16-2009, 02:37 AM

Obviously it's a Communist plot. I ride a motorycle so I can save on gas,,,if it gets more expensive I'll get a Moped.

borndead1 · 08-16-2009, 03:41 AM

They are raising gas prices because they can.

forgop · 08-16-2009, 06:46 AM

Quote:

Originally Posted by floydp

Ok fellers you know political rhetoric is a no no at the nut house? Lets keep the political bs out of this discussion or this thread will insight passions that do not belong on a cigar forum. At least not this one.

I'm not trying to turn this into a pi$$ing match at I'm not fan of GWB by any means. Just illustrating the point that what is good for one is good for another.

08-14-2009, 02:04 PM	#1
Bruins Fan Hooper drives the boat. Join Date: May 2009 First Name: John Location: Cape Cod Posts: 1,359 Trading: (0)	crude oil Can someone tell me why the price of gas keeps going up, when the price of crude keeps dropping? __________________ Here's to swimmin' with bow-legged women.

08-14-2009, 02:12 PM	#2
jledou Have My Own Room Join Date: Oct 2008 First Name: Jay Location: Kansas Posts: 2,202 Trading: (27)	Re: crude oil It is supposed to be based on a straight supply and demand plus operating/production cost. Right now demand is down, supply is OK and refining capacity is at ~ 70-80% so right now I would set most of the price to speculation.

08-14-2009, 03:07 PM	#3
Steve Dad Jokester Supreme Join Date: Oct 2008 First Name: Steve Location: 17 R 435648 3354895 Posts: 7,715 Trading: (6)	Re: crude oil Somebody's betting on a couple of storms... __________________ ...So don't sit upon the shoreline and say you're satisfied, Choose to chance the rapids and dare to dance that tide

08-14-2009, 04:04 PM	#4
The Poet Il megglior fabbro Join Date: Jun 2009 First Name: Thomas Location: Hickory, NC Posts: 8,420 Trading: (2)	Re: crude oil I don't know, but I wonder - did Exxon post a record-breaking profit for the umpteenth straight time? If not, there's your answer.

08-14-2009, 07:14 PM	#5
forgop Not a puffer Join Date: Oct 2008 First Name: Duane Location: Indianapolis, IN Posts: 2,869 Trading: (40)	Re: crude oil Obama's in bed with "big oil"?

08-14-2009, 08:19 PM	#7
Ashcan Bill Ol' Dude Join Date: Oct 2008 First Name: Bill Location: Henderson, NV Posts: 1,889 Trading: (6)	Re: crude oil My personal opinion, with absolutely no hard empirical evidence to back it up, is it may have something to do with the government allowing the oil companies to merge, and merge, and merge again, until you now have a few vast monopolies that have driven the independents out of business. With Congress looking the other way, they can now fix prices at pretty much any level they want as long as they're generous with their campaign donations and can come up with some rationale that the media will buy. Similar to the trusts from a hundred years ago that Teddy Roosevelt busted up.

08-14-2009, 08:58 PM	#8
Smokin Gator Just plain insane! Join Date: Oct 2008 Location: The Swamp Posts: 6,237 Trading: (106)	Re: crude oil Not that I disagree with your general premise... but the price of crude has been going up for a couple of months now. __________________ Check out the Cigar Asylum Newbie Sampler Trade

08-14-2009, 09:17 PM	#9
Ratters Have My Own Room Join Date: Oct 2008 Posts: 1,848 Trading: (2)	Re: crude oil Price of crude is up a tad, but right now there are a lot of refineries shut down for scheduled maintenence which is pushing up the current price.

08-15-2009, 10:12 AM	#12
The Poet Il megglior fabbro Join Date: Jun 2009 First Name: Thomas Location: Hickory, NC Posts: 8,420 Trading: (2)	Re: crude oil And it begins. An economic question - which is allowed - turns into a political p!$$ing contest, which is not. I'm gonna go hide now.

08-15-2009, 10:29 AM	#14
shilala Dear Lord, Thank You. Join Date: Oct 2008 First Name: Scott Posts: 13,721 Trading: (252)	Re: crude oil All I know is that when crude goes up, my pensions go to hell. Right now I'm making money like George Bush. So long as we don't dick with Iraq, I'm gonna be rich. __________________

08-15-2009, 09:07 PM	#15
floydp Team of 11 Join Date: Oct 2008 First Name: Frank Location: Here behind my wall Posts: 939 Trading: (0)	Re: crude oil Ok fellers you know political rhetoric is a no no at the nut house? Lets keep the political bs out of this discussion or this thread will insight passions that do not belong on a cigar forum. At least not this one. __________________ Waiting for the Worms to come.

08-15-2009, 09:34 PM	#16
heavyd Adjusting to the Life Join Date: Nov 2008 First Name: Dave Location: La Mesa CA Posts: 316 Trading: (22)	Re: crude oil The way I understand it... the price of gasoline is less dependent on the the price of oil than it is dependent on the the amount of oil that is refined into gasoline. If Exxon Mobil wants to raise the price of gas, they simple reduce the supply (refine less oil into gasoline). I used to ponder big questions like this, but now that I've given up hope, I'm much more mellow about it all __________________ "You can't get to wonderful without passing through alright." ~Bill Withers

08-16-2009, 12:07 AM	#17
Waynegro1 Guest Posts: n/a	Re: crude oil Can you say, OIL SPECULATORS?? Just my Now, back to

08-16-2009, 02:37 AM	#18
Cigary Guest Posts: n/a	Re: crude oil Obviously it's a Communist plot. I ride a motorycle so I can save on gas,,,if it gets more expensive I'll get a Moped.

08-16-2009, 03:41 AM	#19
borndead1 Ayatollah of Rock n Rolla Join Date: Oct 2008 First Name: Mark Location: Lancaster, CA Posts: 1,321 Trading: (7)	Re: crude oil They are raising gas prices because they can.