First job 1970 pumping gas at the old Zephyr station. Big Harry, the owner gave these orders. Do not talk either politics or religion in my station, this is a place of business. That was good advice then and now. I always think of Mike Royko's article " Greed is what made America great" when I hear people attempt to parcel out reasons and responsibilites. Have a good Blue day as you celebrate a Mich victory over Illini
OT - Why are gas prices so high, anyway?
Unrest in oil producing countries Libya, Egypt, Bahrain, and even Saudi Arabia (as of a few days ago) have raised doubts about future production coming out of the Middle East. Libya itself has seen its oil exports drop by over 2/3, which by itself isn't enough to raise the price until you consider that the unrest threatens to derail what these countries are able to export in the future. As such, the value of existing oil goes up since the future oil may not be there in the short term.
I suspect if the oil fields in Libya are bombed and unrest in Saudi Arabia grows, prices will go up even more.
I hope this helps!
^^ This is the best answer to this thread. Prices originally bumped up when the Suez Canal workers went on strike - they don't produce, but are a major gateway to the oil supplies. Add to that the current unrest in Libya, Saudi Arabia, et al and you have escalating gas prices in the rest of the world.
post this link......
You've pretty much nailed it. Fossil fuel prices fluxuate, more than most other commodities, based on what's happening around the world and how that might affect future supply.
So did you read the link I posted, or did you just ignore it because the crack financial reporting team at the Norwalk Reflector (North Central Ohio's finest!) had already told you everything you need to know?
So are you saying that the incredible growth of commodities indexes has nothing to do with the rise in commodoties prices across the board in the past 10 years?
I probably should have made this more clear in the original post, but it's not really the oil that's most fascinating and despicable - it's the wheat prices. Making it more expensive for a fill-up at the pump is one thing, but forcing people into starvation is quite another.
There hasn't been any great unrest in Nebraska and Saskatchewan that I don't know about, has there?
Politics Let me sum it up (It just gets everbodys panties in a wad no matter which side you take)
WOW you mus be a hi payed lawer. Just misd spelin class. Hoop yor clents don mined.
On your best day you couldn't school me!
Because bicycles don't have big enough baskets or loud enough bells.
This thread is a freaking abortion.
Oil companies and commodities speculators make record profits by gouging the American public and pricing essentials out of the reach of many, and then issue a statement that says something like, "We're not going to apologize for being successful."
Sadly, though, the path to their "success" leaves their footprints on our backs.
Do we need to March down to Brian's house chanting "Kill the Thread!" in order to get this taken down? I agree with some of the points brought up, but it's getting ridiculous with the ad hominem that is going on. And it all violates the no politics rule.
DIAF, gas prices thread
that paris hilton is the reason gas isn't 90 cents a gallon anymore
...the current price is lower than in many regions...no one is forcing anyone in the long term to buy gas...but in the short term...I need to drive to a sports bar to see Michigan stuff the Illini and waltz into the dance!...I'll pay for that.
Why can't time go faster?...why don't points mean anything again?...where are the mods?
Stuff is disproportionately expensive because people are greedy.
That is all.
This is not related to "peak oil" theories or any of that. For the time being, there is still plenty of oil in the world. Nor is it simply due to greed. People are always greedy. The question is whether oil can be efficiently and cheaply delivered.
Commodities markets tend to function the opposite way of stock markets during times of uncertainty: prices go up. The unrest in the Middle East has made it uncertain if oil can still be delivered to customers without disruption, hence the higher prices. (We could theoretically get all our oil from non-ME sources (and we do get a lot from Canada), but that would require some major changes in the supply chain and would be politically dangerous.)
A secondary factor: the weak U.S. dollar. Because oil is priced in dollars, when the greenback loses value, the cost of oil will increase even if its real value does not change.
Prices are where they are because that is where supply = demand. It's that simple. Speculators may affect the prices of commodities futures, but they don't affect the price at the pump. That is, unless, they speculate by stockpiling liquid barrels, but that only drives up prices in the short term.
This thread sucks, but the link in the OP is one of the most interesting things I've read in a while. Thanks for posting, STW P. Brabbs.
Is why there's a no politics rule (even if it's not enforced).