Gas gangsters

[ishmael]

Libby's oil production has been cut in half due the recent turmoil. Libya only produces a snort, yet prices at our pumps keep rising, dramatically.

Someone is manipulating the price of oil.

[willmarsh3]

Re: Gas gangsters

I like to think that supply and demand aren't very elastic for oil. Nonetheless I cut back my driving and drive my car more instead of my truck. It's funny how gas prices go up in a hurry and take their sweet time coming back down after the crisis has passed.

[Waddie]

Re: Gas gangsters

If you want to track the price of oil follow the London exchange. That's where the speculators gather. Look at volume as well as trends. They have been busy. I also think oil goes up faster than it comes down. The gas at our pumps predates most of this Libyan crisis (it was refined before the price got higher), and most Libyan oil goes to Europe. It can be replaced by other nations and/or stockpiles in the short term, so outside of speculation there is no concrete reason gas prices here have to go up---yet.

regards,
Waddie

[mike hanyi]

Re: Gas gangsters

come on people its easy to learn the scam!

any political turmoil in an oil producing country = prices rise
bad economy and trying to consume less fuel? = prices rise so OPEC gets the same monthly income
its a game you cant win, OPEC rules the world, and any chance to raise the price they the stock market takes it

use lots of fuel like it is like water = more production and lower prices
summer is normally lower price as heating oil is in demand more in winter.

[skuthorp]

Re: Gas gangsters

Speculating on oil is not a crime, but if it precipitates a recession for no good reason, maybe it should be an economic crime.
It may not even be OPEC, the speculators have got us over the (oil) barrel. Maybe we should learn their names and addresses and publish them widely.

[Phillip Allen]

Re: Gas gangsters

Speculating on oil is not a crime, but if it precipitates a recession for no good reason, maybe it should be an economic crime.
It may not even be OPEC, the speculators have got us over the (oil) barrel. Maybe we should learn their names and addresses and publish them widely.

I'll go for that...shine a light on it

[Waddie]

Re: Gas gangsters

Speculating on oil is not a crime, but if it precipitates a recession for no good reason, maybe it should be an economic crime.
It may not even be OPEC, the speculators have got us over the (oil) barrel. Maybe we should learn their names and addresses and publish them widely.

Speculating of this sort is a crime in the US, that's why they like the London exchange (at least partly).

regards,
Waddie

[Paul Pless]

Re: Gas gangsters

the speculators have got us over the (oil) barrel.

speculators eh?

[Bob Adams]

Re: Gas gangsters

Libby's oil production has been cut in half due the recent turmoil. Libya only produces a snort, yet prices at our pumps keep rising, dramatically.

Someone is manipulating the price of oil.

It's Lee.

[Jim Mahan]

Re: Gas gangsters

"Speculating on oil is not a crime, but if it precipitates a recession ..."
You can relax. According to Ian McColgin this doesn't happen.

[Phillip Allen]

Re: Gas gangsters

"Speculating on oil is not a crime, but if it precipitates a recession ..."
You can relax. According to Ian McColgin this doesn't happen.

anyone know how to compile a list of politicians who are tied to the oil industry...who might want to speculate?

[SMARTINSEN]

Re: Gas gangsters

anyone know how to compile a list of politicians who are tied to the oil industry...who might want to speculate?

Lopsidedly more Republican than Democrat. Not speculation, fact.

[Canoeyawl]

Re: Gas gangsters

Someone is manipulating the price of oil.

Vote republican, put 'em in charge of the country too.

[Phillip Allen]

Re: Gas gangsters

Lopsidedly more Republican than Democrat. Not speculation, fact.

it would be interesting to know, just the same...anyone here got an interest in artifically high gas prices? Perhaps someone pushing the global warming thing who wants to "enforce" his theories?

[Bob Adams]

Re: Gas gangsters

it would be interesting to know, just the same...anyone here got an interest in artifically high gas prices? Perhaps someone pushing the global warming thing who wants to "enforce" his theories?

See post 9