Gas Price Outrage

[tdyballgame]

Take what ya can and get rid of it. Now that the recession is over... $3.00 is here to stay. Good luck with it.

 

I don't see a anywhere. So, you have to be kidding right? You obviously are not in the construction industry. Been in it for 30 years and this is the worse ever for me my friend. Haven't had a contract on a job since Sept 2009. I would have to say the recession is still here. High gas prices are not going to help any that's for sure.

[John Anthony]

There's the answer to your question, WR.

 

Imagine that you are speculating on oil futures, & you know the current supply & demand. You are confident that oil prices will stay high with Obama, and you are speculating that way.

 

Now imagine that the U.S. decides to allow increased drilling (off-shore, Alaska, new permits elsewhere); AND to allow the building of some new refineries.

 

In that case you would fear that the future price of oil would go down, causing you to sell off; further causing prices to go down.

 

You are correct, people must understand the difference in investing. You have speculators who look for short term gains and quick money, then you have investors who are in it for the long haul. The market itself is the wild wild west right now, this is how speculators are able to do what they want.

[John Anthony]

I don't see a anywhere. So, you have to be kidding right? You obviously are not in the construction industry. Been in it for 30 years and this is the worse ever for me my friend. Haven't had a contract on a job since Sept 2009. I would have to say the recession is still here. High gas prices are not going to help any that's for sure.

 

The economy is improving it is a fact. Will it rebuild over night no, but at the first signs of improvement the speculators will start going on their energy rush; hence 3.00 gas which we actually haven't seen in a while. We have been in the 2.60 - 2.75 range for a while. Improving economy and their spring/summer driving excuse, be prepared for 3.25 gas soon.

[Clyde]

Clyde brother don't let the speculators fool you, we are in talks with Canada about building a massive pipeline, so big they said we could cancel orders with mideast counties or Venz. Iraq is also producing oil now, they are a gold mine, they could rival the Saudi's easily. There will always be oil and there will always be greed. We crossed with some of the big OPEC countries in the early 2000's and they have made us pay for it literally. Oil isn't going anywhere, not in our lifetime or our kids, it just depends on how much it will cost due to speculative abuse and greed in OPEC.

 

You're incorrect that there will always be oil. Canada has plenty of oil but it's VERY EXPENSIVE to refine.

 

When the world economy gets better we will really see the shortage magnified.

[Clyde]

Policies and just things they say to the media can cause speculators to get "nervous". Guess what happens next.

 

Speculator's are reactionary. Yes, they have an effect but it's not THE reason for gas prices going up.

[John Anthony]

You're incorrect that there will always be oil. Canada has plenty of oil but it's VERY EXPENSIVE to refine.

 

When the world economy gets better we will really see the shortage magnified.

 

I disagree Saudi Arabia itself has enough oil for the next 100 years. Iraq is said to have Saudi like levels. Canada is a huge sleeper that most don't realize. The big OPEC countries have realized that the peak oil concept increases their main export by 4X what they were selling it for back in the 90's. Wouldn't you run with that too?

[nWo]

The economy is improving it is a fact. Will it rebuild over night no, but at the first signs of improvement the speculators will start going on their energy rush; hence 3.00 gas which we actually haven't seen in a while. We have been in the 2.60 - 2.75 range for a while. Improving economy and their spring/summer driving excuse, be prepared for 3.25 gas soon.

I agree that the economy is improving. At my place of employment we do a lot of business with the automotive industry. In the almost 20 years I've been there I've never seen it this busy this early in the year. It usually doesn't pick up for us to about March or April. I have had to work more overtime than I have had to in the past couple of year. Plus we have new business coming in. The thing that is really helping us is that some companies are bringing their business back from overseas.

 

The company has also started to hire temporary workers. These workers have an excellent chance for permanent jobs now.

[mcpapa]

There's the answer to your question, WR.

 

Imagine that you are speculating on oil futures, & you know the current supply & demand. You are confident that oil prices will stay high with Obama, and you are speculating that way.

 

Now imagine that the U.S. decides to allow increased drilling (off-shore, Alaska, new permits elsewhere); AND to allow the building of some new refineries.

 

In that case you would fear that the future price of oil would go down, causing you to sell off; further causing prices to go down.

 

That'll be the day.

[Clyde]

I disagree Saudi Arabia itself has enough oil for the next 100 years. Iraq is said to have Saudi like levels. Canada is a huge sleeper that most don't realize. The big OPEC countries have realized that the peak oil concept increases their main export by 4X what they were selling it for back in the 90's. Wouldn't you run with that too?

 

You keep talking about Canada. They have no excess cheap oil. They've got lots of oil in the tar sands but that's really expensive to clean and refine. THAT's the issue with Canada. You're also ignoring or are unaware of the rapid increase in consumption in China, India, and even Saudi Arabia. SA has a severe water shortage and they are now using massive amounts of oil to help move water.

[bballfamily]

You keep talking about Canada. They have no excess cheap oil. They've got lots of oil in the tar sands but that's really expensive to clean and refine. THAT's the issue with Canada. You're also ignoring or are unaware of the rapid increase in consumption in China, India, and even Saudi Arabia. SA has a severe water shortage and they are now using massive amounts of oil to help move water.

 

Good reasons to start drilling for oil in a variety of places in this country. I do believe it would help to hold down the price of oil. Oil prices can drop, as we have seen over the past 35-40 years. Plus, it would reduce our dependence on foreign oil. Why send jobs overseas, when we can keep them here?