ptcgt12
Rookie Author
Jackson
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Message Posted:
5/23/2008 6:08:51 PM
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The major contributor to the rise is market manipulation. Speculation drives prices up like crazy as investors ditch falling American investments and grab up commodities like oil that are traded on the valuable Euro. News of supply worries and refiniery shutdowns only exacerbate the speculation problem.
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kanmandoo
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Detroit
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Message Posted:
5/23/2008 1:15:57 PM
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It's just going to keep going up.
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eddmac
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Washington
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Message Posted:
5/23/2008 12:01:55 PM
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Makes me wonder if Lindsay Williams, is right. I was hoping he was a kook. A person would need to be blind not to see market manipulation.
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ramshot412
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Riverside
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Message Posted:
5/23/2008 10:23:10 AM
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"They raise prices because supply is low but my gas station has never run out."
Of course supplies of gas are low, the refineries are only operating at about 85% capacity. (to keep the price higher)
[Edited by: ramshot412 at 5/23/2008 11:23:21 AM EST]
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r651981
Veteran Author
Columbus
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Message Posted:
5/23/2008 10:07:56 AM
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No news here! When you are enslaved by OPEC, you have few options.
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letmathe
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Chicago
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Message Posted:
5/23/2008 10:04:44 AM
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The problem with the supply and demand arguement is that it is based on THE PERCEPTION OF POSSIBLE FUTURE changes rather than on actual changes.
Of course, the supply of dollars demanded per gallon has to remain constant or increase (laugh or cry here, as appropriate!)
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DaBus
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Washington
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Message Posted:
5/23/2008 9:52:21 AM
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GREED!
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mvosevich
All-Star Author
St. Louis
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Message Posted:
5/23/2008 9:51:51 AM
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They raise prices because supply is low but my gas station has never run out.
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white_fang
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Dallas
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Message Posted:
5/23/2008 9:46:15 AM
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that quick and dirty burst in price... ain't coming
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frede2
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Texas
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Message Posted:
5/23/2008 9:46:05 AM
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"supply worries" yeah, right. What a bunch of trash. The greedy just get greedier and if they are wondering what will stop the rise in prices....a depression, that will stop them and everything else as well.
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FuelGrinch
Sophomore Author
Kansas
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Message Posted:
5/23/2008 9:45:29 AM
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Trottle is so right.
It is just a matter of time when the top will blow off the oil price and it will crash. Just like the stock market crash, oil spec will be jumping out windows.
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kmgaslooker
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Long Island
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Message Posted:
5/23/2008 9:42:56 AM
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Oil is on a tear
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rustyOR
Veteran Author
Oregon
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Message Posted:
5/23/2008 9:38:43 AM
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Up up and away
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ykim001
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Miami
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Message Posted:
5/23/2008 9:36:11 AM
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Here comes $5
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NissanGirl
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Oregon
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Message Posted:
5/23/2008 9:34:36 AM
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Another day, another record...
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EastsideBill
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El Paso
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Message Posted:
5/23/2008 9:34:32 AM
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Driling Rights? What rights? Who owns them? who sold the rights to them? Oil should belong to all of us. Socialism isn't ordinarilly a good thing, but a good case for nationalizing oil, like in Mexico can be made. PEMEX supplies one third of Mexico's internal revenue anf gasoline is still nearly half of what it costs here, and diesel is $1.50 per gallon.
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KO292
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Twin Cities
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Message Posted:
5/23/2008 9:32:35 AM
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up up and away!!!
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throttle
Champion Author
Maryland
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Message Posted:
5/23/2008 9:32:28 AM
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An oil price crash is coming. The speculators can't sustain this. It may be weeks or even months, but the price will crash.
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CatbirdWoman
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Ohio
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Message Posted:
5/23/2008 9:31:56 AM
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Yea, ok
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gasman50
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Portland
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Message Posted:
5/23/2008 9:30:25 AM
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Ugly, Very ugly
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fairchildd
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Kansas City
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Message Posted:
5/23/2008 9:30:17 AM
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I really think it no longer needs a reason to go up - it's just self-sustaining
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_angel35_
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Michigan
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Message Posted:
5/23/2008 9:28:39 AM
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geeschhhhhhhhhhhh
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w4kh
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Riverside
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Message Posted:
5/23/2008 9:27:46 AM
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seems like the higher crude prices go, the worse the US economy gets, and still the White House Oil Buddies aren't willing to say we are in a recession - they won't even concede an "economic slowdown"! What could they know? Some one else (us) buys everything for them! Our idiot leader and DickieBoy haven't set foot in a supermarket for decades (if ever) so what could they know? They don't feel our pain, and since their buddies are using the pressure of high prices to push for expanded drilling of the coast and ANWR, which would really improve their profits (as if they could get any higher than they already are) and wouldn't do us any good at all, they are out of touch, but not out of office soon enough.
And I worry about who will be next...
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FuelGrinch
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Kansas
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Message Posted:
5/23/2008 9:27:30 AM
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Just like a rodeo.....hang on for the ride if you can!
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funandtrvl
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Illinois
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Message Posted:
5/23/2008 9:27:21 AM
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I agree that we need to drill more.
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laddyboy62
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Riverside
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Message Posted:
5/23/2008 9:26:14 AM
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and ill winds continue to blow
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tomok
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Portland
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Message Posted:
5/23/2008 9:26:01 AM
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no way should crude oil be this high...........
Produce more and many different alternative fuels using NON FOOD sources.
There are many lands alternative plants can be grown on that food crops cannot. Algae is a good source of bio oil for diesel or other refined products.
Limit the import of OPEC oil.
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drish
Rookie Author
Jackson
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Message Posted:
5/23/2008 9:24:54 AM
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girlusps - Yep, It's been a Bush conspiracy; get those Chinese and Indian economies booming, cause Hurricane Katrina, damage Africa supply lines so he and his buddies can make some money. How stupid can people be?
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EastsideBill
Rookie Author
El Paso
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Message Posted:
5/23/2008 9:24:45 AM
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Tax speculator capital gains 150 percent!
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ledoy
Champion Author
Dayton
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Message Posted:
5/23/2008 9:24:00 AM
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Next Stop $150.00
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Don20
All-Star Author
Oklahoma City
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Message Posted:
5/23/2008 9:23:53 AM
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Whats new??
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MightyDude
Champion Author
Minnesota
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Message Posted:
5/23/2008 9:21:32 AM
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good grief
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MASHBY
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South Carolina
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Message Posted:
5/23/2008 9:20:23 AM
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it will get much worse before it gets better
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girlusps
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Missouri
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Message Posted:
5/23/2008 9:19:44 AM
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You do realize that gas was $1.47 a gallon when Bush took office. Thus letting us pad his pockets before he leaves office.
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blazerbob91
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Milwaukee
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Message Posted:
5/23/2008 9:18:11 AM
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Everybody is blaming everbody else.
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Masercal
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Michigan
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Message Posted:
5/23/2008 9:17:23 AM
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Our leaders need to step up to the plate get this under control. And right now the only way to do that is to bring massive amounts of renewable energy to the market at an affordable price. This will make consumers re-think the way they drive and power their homes and make businesses re-think the way they power their stores and plants. Only then will you see oil prices tumble. Oil has no true competition today.
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Vim_Fuego
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Missouri
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Message Posted:
5/23/2008 9:16:45 AM
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I think I'll start shooting the ground in my back yard. Maybe I'll get lucky.
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CyanSquirrel
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Virginia
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Message Posted:
5/23/2008 9:15:12 AM
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The irony is that our energy policy remains in the hands of volatile and undemocratic states a half a world away. Washington lost its spine after WWII. Sad...
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FedUpCA
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Ventura
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Message Posted:
5/23/2008 9:13:07 AM
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Its about time to take out the Bike and start peddling around town.
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jdkelle
Rookie Author
Phoenix
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Message Posted:
5/23/2008 9:12:42 AM
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Bush is from Texas He will let it keep going up so He can profit from is oil wells
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praises7
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Twin Cities
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Message Posted:
5/23/2008 9:11:16 AM
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The only truth is gas keeps going up!
The reasons are all lies!
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SpruceGuse2
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Michigan
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Message Posted:
5/23/2008 9:10:52 AM
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And nothing to stop it......................
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greywolves
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Las Vegas
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Message Posted:
5/23/2008 9:09:15 AM
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well, i guess that is part of the supply problem then, isn t it, gatj1025? and just what is in it for them to increase the supply, a big thank you from the gas guzzling american public? if you were them don t you think you would just as soon keep the cash?
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spbob
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Tampa
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Message Posted:
5/23/2008 9:07:36 AM
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There is no reality in this market driven by speculators and emerging markets. The sky is the limit.
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RdHogg
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Houston
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Message Posted:
5/23/2008 9:07:20 AM
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right
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EnderNY
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Dallas
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Message Posted:
5/23/2008 9:04:37 AM
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bycicler: and he also forgot to add us.
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Gas_Buzzer
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South Carolina
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Message Posted:
5/23/2008 9:04:23 AM
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Hell, they "ran away" from reality months ago.
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SueB1863
Sophomore Author
Toledo
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Message Posted:
5/23/2008 9:02:34 AM
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I wouldn't trust Steve Forbes' ideas, he didn't think oil would hit $100 a barrel. That article was written when it was still $70, he probably realizes by now that he was wrong.
CNN.com has an article today that states this isn't a bubble like tech or housing stocks, where supply eventually swamped demand. That isn't going to happen here, there isn't a huge supply of oil, and OPEC is controlling most of what supply there is. They can adjust it however they like.
This bubble is never going to burst, we just have to figure out how to adjust to life without the ability to easily afford to drive.
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patchdogMI
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Michigan
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Message Posted:
5/23/2008 9:01:50 AM
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Bahaha....deregulation. I have never seen deregulation in anything. Deregulation is always the word that the government uses for reregulation. Let's change the rules a little bit, and if it goes sour we'll say it was because of deregulation because heaven forbid that the government look like it made a mistake during reregulation.
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bicycler
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Ontario
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Message Posted:
5/23/2008 8:58:26 AM
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My mother used to use the expression " Blame it on Wilber" to cite an occasion when one wants to avoid admitting blame where it really should go. This article clearly is an example. The writer wants to blame everyone but the speculators, the oilbarons and greed!
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