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The weakening dollar doesn't help, but this is a simple supply and demand problem.

Agent_Dung_Bomb wrote:

The weakening dollar doesn't help, but this is a simple supply and demand problem.

You know, OPEC is saying there's a good balance with supply and demand, hence their reluctance to increase production.  That makes the weakened dollar kind of show how proportional it's effect is on our gas.

Be nice to see exactly how bad the dollar is, with a nice shiny graph or something.

capitalism is to blame

The fact that the dollar has tanked means that everyone is buying up oil like there's no tomorrow (oil being priced in dollars). The jump in prices doesn't nearly affect us as much as it affects the yanks. Whoever is responsible for the dollar tanking is one of the main culprits. The Iraq war and India and China are also major factors. Lesser factors might include Venezuelan nationalisation programs, warmongering against Iran and Nigerian unrest and instability.

IRONCHEF wrote:

Agent_Dung_Bomb wrote:

The weakening dollar doesn't help, but this is a simple supply and demand problem.

You know, OPEC is saying there's a good balance with supply and demand, hence their reluctance to increase production.  That makes the weakened dollar kind of show how proportional it's effect is on our gas.

Be nice to see exactly how bad the dollar is, with a nice shiny graph or something.

http://forums.bf2s.com/viewtopic.php?pi … 1#p2044151

these damn nigerians cutting oil pipe lines last week with threat's of more isnt helping anything either. Expect 130$ a barrel by labour day..mark my words..in fact could hit 150 by the end of the summer..when prices catch up, expect some angry people at gas stations and on the white house lawn.

ATG wrote:

All of the above.

that, and the possibility of peak oil.

It isn't Bush's fault.  It's the greedy corporations who are raping our wallets.

Eww... Bad image...

Last edited by Deadmonkiefart (2008-04-21 18:13:22)

Other, themselves for being such greedy gas guzzlers that oil companies want to gouge prices.

I personally have no clue how economics work so I'm going to vote Bush.

FallenMorgan wrote:

When Clinton was president, Gas was $1.50.

This has nothing to do with why prices are high now. Presidents of this country have nothing to do with the price of oil or at the pump, unless the state and federal taxes keep going up for every gallon our SUV's suck up.

It has more to do with the huge rise in consumption by emerging industrialized countries like China and India. It has more to do with our aging and old refineries and refineries that have been shut down and outdated in the U.S. (actually Bush and Republicans have pushed for drilling to depend on more of our own crude). Anyhow, the real culprit is speculators in the markets driving the cost per barrel up, even though OPEC says they are having no trouble keeping up with the demand. Every time something happens somewhere, it gives speculators a reason to push the futures up.

It is no different in what happened with the housing market during the early 2000's. I work as an architect and saw a huge boom in prices, everyone buying and building a new homes and anyone could get a loan. The values on homes skyrocketed, loans and interest rates went crazy and now we are in a huge correction. The same thing will happen with oil. All the numbers are skyrocketing based on "assumptions" eventually reality will bring it back to earth and we will see a correction. In the meantime, oil companies, governments around the world sit back and enjoy the windfall. They don't have to lift a finger, wall street is doing it for them and they are taking in record profits, huge tax revenues. A correction will happen, how soon, who knows.

Phrozenbot wrote:

DeathBecomesYu wrote:

FallenMorgan wrote:

When Clinton was president, Gas was $1.50.

This has nothing to do with why prices are high now. Presidents of this country have nothing to do with the price of oil or at the pump, unless the state and federal taxes keep going up for every gallon our SUV's suck up.

It has more to do with the huge rise in consumption by emerging industrialized countries like China and India. It has more to do with our aging and old refineries and refineries that have been shut down and outdated in the U.S. (actually Bush and Republicans have pushed for drilling to depend on more of our own crude). Anyhow, the real culprit is speculators in the markets driving the cost per barrel up, even though OPEC says they are having no trouble keeping up with the demand. Every time something happens somewhere, it gives speculators a reason to push the futures up.

It is no different in what happened with the housing market during the early 2000's. I work as an architect and saw a huge boom in prices, everyone buying and building a new homes and anyone could get a loan. The values on homes skyrocketed, loans and interest rates went crazy and now we are in a huge correction. The same thing will happen with oil. All the numbers are skyrocketing based on "assumptions" eventually reality will bring it back to earth and we will see a correction. In the meantime, oil companies, governments around the world sit back and enjoy the windfall. They don't have to lift a finger, wall street is doing it for them and they are taking in record profits, huge tax revenues. A correction will happen, how soon, who knows.

Phrozenbot wrote:

http://forums.bf2s.com/viewtopic.php?pid=2044151#p2044151

I guess if it isn't inflation, why did Alan Greenspan tell the Arabs to drop their peg from the dollar?

I agree with your previous post and I believe we are on the same page. I just find it stupid when people blame Bush for what is going on with oil prices. He really has no control over it. You can't even blame OPEC, you can't even blame large oil companies. It is much bigger and a correction will happen eventually as you pointed out in your previous post. I don't know if it will hit as high as you think it will, but eventually it will have to correct and we will see similar consequences to what is happening in the sub-prime mess. We will see.