US Oil

2008-09-10 11:36:00

#1

usmarine: Banned; +2,785|7181

Well that's right. All the experts warned us of 6 dollar gallons of fuel a few months ago remember? and everyone was babbling about the iraq war and other bollocks. people with brains on here said it was because of the hedge fund douche nozzles and speculators. well, they were right. and commodities such as oil are falling like a bitch. especially because of the boone pickens natural gas sales pitch. ofc some in the senate dont like it....go figure.

-----------------

"Speculation by large investors — and not supply and demand for oil — were a primary reason for the surge in oil prices during the first half of the year and the more recent price declines, an independent study concluded Wednesday. "

http://news.yahoo.com/s/ap/20080910/ap_ … peculation

2008-09-10 11:39:36

#2

Mekstizzle: WALKER; +3,611|7040|London, England

It was always those damn speculators. Someone should just shoot them all and do the world a favour.

Someone

with military experience preferably

Someone...

*nudge*

Last edited by Mek-Stizzle (2008-09-10 11:40:06)

2008-09-10 12:25:54

#3

m3thod: All kiiiiiiiiinds of gainz; +2,197|7091|UK

no one care cos some other fuck is getting rich.

Blackbelts are just whitebelts who have never quit.

2008-09-10 12:31:13

#4

Kmar: Truth is my Bitch; +5,695|7020|132 and Bush

Do you guys realize they (Speculators) are losing money now? That's why there has been a selloff. Speculators are just people who buy and sell contracts based on what they think the market will do. It's not like they go in and set a specific price. Just the suggestion that the world is serious about getting off the Saudi Sauce is enough to make them lose (insanely) large amounts of money.

Xbone Stormsurgezz

2008-09-10 12:36:12

#5

The#1Spot: Member; +105|6959|byah

I think the people should speculate on taxes to a certain extent.

2008-09-10 13:24:42

#6

CameronPoe: Member; +2,925|6975

usmarine wrote:
Well that's right. All the experts warned us of 6 dollar gallons of fuel a few months ago remember? and everyone was babbling about the iraq war and other bollocks. people with brains on here said it was because of the hedge fund douche nozzles and speculators. well, they were right. and commodities such as oil are falling like a bitch. especially because of the boone pickens natural gas sales pitch. ofc some in the senate dont like it....go figure.

-----------------

"Speculation by large investors — and not supply and demand for oil — were a primary reason for the surge in oil prices during the first half of the year and the more recent price declines, an independent study concluded Wednesday. "

http://news.yahoo.com/s/ap/20080910/ap_ … peculation

In that case why hasn't the price returned to its original value? Are you saying the downturn in the global economy and consequent decline in demand for oil has nothing to do with the decreasing price? Get back to me when your economy recovers. A lot of it was down to speculation though I agree.

Last edited by CameronPoe (2008-09-10 13:39:44)

2008-09-10 13:46:41

#7

usmarine: Banned; +2,785|7181

CameronPoe wrote:
Get back to me when your economy recovers.

lol

2008-09-10 13:48:45

#8

Kmar: Truth is my Bitch; +5,695|7020|132 and Bush

A little of Both Cam. The economy has been declining for over two years... and yet the price of oil continued to soar even when the demand/slowdown was apparent. The possibility of new contracts becoming available (offshore) as well as decreasing demand has combined together to send oil futures retreating. We are finally getting serious about renewable energy. I just hope we stay on it this time even after energy prices become bearable. Too often we do just enough and then give up.

Xbone Stormsurgezz

2008-09-10 13:50:55

#9

oChaos.Haze: Member; +90|6858

Kmarion wrote:
A little of Both Cam. The economy has been declining for over two years... and yet the price of oil continued to soar even when the demand/slowdown was apparent. The possibility of new contracts becoming available (offshore) as well as decreasing demand has combined together to send oil futures retreating. We are finally getting serious about renewable energy. I just hope we stay on it this time even after energy prices become bearable. Too often we do just enough and then give up.

QFT

It's like we reraise them when they bet, and they back down. But once we win that hand, we get complacent, and they come back with pocket aces.

lol, been playing too much poker.

2008-09-10 13:56:12

#10

ATG: Banned; +5,233|6948|Global Command

I hope they keep talking it down.

2008-09-10 14:13:37

#11

Agent_Dung_Bomb: Member; +302|7155|Salt Lake City

CameronPoe wrote:
usmarine wrote:
Well that's right. All the experts warned us of 6 dollar gallons of fuel a few months ago remember? and everyone was babbling about the iraq war and other bollocks. people with brains on here said it was because of the hedge fund douche nozzles and speculators. well, they were right. and commodities such as oil are falling like a bitch. especially because of the boone pickens natural gas sales pitch. ofc some in the senate dont like it....go figure.

-----------------

"Speculation by large investors — and not supply and demand for oil — were a primary reason for the surge in oil prices during the first half of the year and the more recent price declines, an independent study concluded Wednesday. "

http://news.yahoo.com/s/ap/20080910/ap_ … peculation
In that case why hasn't the price returned to its original value? Are you saying the downturn in the global economy and consequent decline in demand for oil has nothing to do with the decreasing price? Get back to me when your economy recovers. A lot of it was down to speculation though I agree.

I've found several articles stipulating that there was actually more than enough supply for the demand.

Nader.org wrote:
Over the time since early 2007, U.S. demand for petroleum has fallen by 1 percent and world demand has risen by 1.3 percent. Supplies of crude are so plentiful, according to the Wall Street Journal, “traders of physical crude oil say their market is suffering from too much supply, not too little.”

2008-09-10 14:44:59

#12

MGS3_GrayFox: Member; +50|6587

Fuck the energy plans, oil is cheap again.

2008-09-10 15:15:05

#13

Kmar: Truth is my Bitch; +5,695|7020|132 and Bush

ATG wrote:
I hope they keep talking it down.

Not likely.
http://afp.google.com/article/ALeqM5jZ- … KRZTUlJBQg

19 hours ago

Oil prices rebounded back above 100 dollars on Wednesday after OPEC agreed to cut its output by half a million barrels a day to stem "dramatic" falls in the market.

Remember how "their hands were tied" when the price rose dramatically?

http://www.iht.com/articles/ap/2008/03/ … php?page=1 (When prices were going up)

OPEC on Wednesday accused the U.S. of economic "mismanagement" that it said is pushing oil prices to new record highs and rebuffed calls to boost output, laying the blame on the Bush administration.

What a bunch of assholes.

Xbone Stormsurgezz

2008-09-10 15:24:02

#14

ATG: Banned; +5,233|6948|Global Command

Kmarion wrote:
What a bunch of assholes.

Never have I agreed with you more.

2008-09-10 15:31:08

#15

m3thod: All kiiiiiiiiinds of gainz; +2,197|7091|UK

Did you know when the price of an oil barrel increases by $1 the ruler dude of abu dhabi earns an extra $250m?

FEED MY MOOSLIM BROTHAS! FEEEEEEEEEEEEEEEEEEED!

Blackbelts are just whitebelts who have never quit.

2008-09-10 17:49:39

#16

Diesel_dyk: Object in mirror will feel larger than it appears; +178|6414|Truthistan

$102 and dropping.

You should see CNBC where the business guys don't know what to do with the economy. It looks like the speculators over the past decade were in high tech, then dot.coms, then housing and mortgages, high risk debt bonds, and when these collapsed they moved on to commodities (oil, gold) etc and now with commodities crashing and the financials crashing these speculators don't know where to turn next. oil is down to $106 from $145 and gold is down from $1000 to $750.

These guys are like massive group of locusts, then descend and devour everything they fly off to the next thing to screw it up too. But this time around it looks like they managed to really screw up the economy really really badly -there isn't anything left to devour and we're left with an economic waste land.

What is really bad is that the government is set to bailout the speculators who invested in high risk debt bonds in fannie and freddie and other companies, these are the locusts that really deserve to lose money and now it looks like the taxpayer is going to have to protect them.

As Greenspan said today the government is going to "privatize the profits and socialize the losses"

Get ready to be bent over twice on this one.

2008-09-10 18:03:40

#17

The#1Spot: Member; +105|6959|byah

If oil is at 102$ per barrel then why gas is still $3.60 a gallon? It was $3.46 when it was around 106$ per barrel.

2008-09-10 18:08:35

#18

KEN-JENNINGS: I am all that is MOD!; +2,991|7051|949

The#1Spot wrote:
If oil is at 102$ per barrel then why gas is still $3.60 a gallon? It was $3.46 when it was around 106$ per barrel.

Internal factors such as refining and transportation play a role in oil (gas) costs today. The oil prices you and me see in stock market tickers are for "futures". This is basically the expected price of oil at a certain date in the future, determined by the whatever parameters are set on the contract the 'speculator' bought or sold.

Last edited by KEN-JENNINGS (2008-09-10 18:27:02)

2008-09-10 18:28:01

#19

Kmar: Truth is my Bitch; +5,695|7020|132 and Bush

The#1Spot wrote:
If oil is at 102$ per barrel then why gas is still $3.60 a gallon? It was $3.46 when it was around 106$ per barrel.

Cost per barrel goes up and prices at the pump go up immediately. Cost per barrel goes down and there is a good amount of lag before it is reflected at the pump. It's always been like that and it's no accident . OPEC has already said that they will not let it go below $100 again. They decided to cut production today.

Xbone Stormsurgezz

2008-09-10 18:38:40

#20

Diesel_dyk: Object in mirror will feel larger than it appears; +178|6414|Truthistan

The#1Spot wrote:
If oil is at 102$ per barrel then why gas is still $3.60 a gallon? It was $3.46 when it was around 106$ per barrel.

Gas prices track upwards easily but gas prices are said to be sticky when coming down. The refiners and retailers are happy to sell you gas in a rising market using first in first out where cost increases are past on immediately but they use first in last out when the market is falling in order to sell off the higher priced gas sitting in their storage tanks first. In other words they sell you the cheap gas at higher prices when the price goes up but they also sell you the higher priced gas sitting in their storage tanks at the higher price when the market is actually dropping.

What I do is

1. in a rising market keep you tank full. you will be buying at the lower price and using the cheap gas while the price at the pump is rising.

2. in a dropping market, buy the minimum that you need and wait for the first gas station to drop their prices and then give that station your business. This way you buy at the cheapest price and you won't be driving around with a tank full gas that cost you more than the price at the pump. plus you will be rewarding the station with the lowest price with your business.

BF2S Forums US Oil

usmarine wrote:

CameronPoe wrote:

Kmarion wrote:

CameronPoe wrote:

usmarine wrote:

Nader.org wrote:

ATG wrote:

Kmarion wrote:

The#1Spot wrote:

The#1Spot wrote:

The#1Spot wrote:

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