I don't understand oil prices!
BUT they have no place to store the oil because we are not useing it. This makes no sence to me. 
If gas alone came down people would travel more, buy new cars, go on vacation ect. The money would ease all the world. The economy could pick up. What am I missing except greed. 
Why can't the government step in? 
We would all profit from this and save jobs!!!! |
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| well its a finite resource and using it up is sort of counter productive.....
But beside that, gas has come way down - still under $2 in many places here, less than half what I paid going to St Louis last year. |
| It's back to $2 here. The last thing we want is the government to regulate anything.......but then they already are involved. True free market will work, it's government interference that gets in the way and messes it up. Basic Economics 101.
We aren't driving because we are afraid of what is coming. We are pulling our chips off the table. |
| Gas is the lowest it has been for many years.
Where do you come up with all these posts? |
SheepieBoss wrote: It's back to $2 here. The last thing we want is the government to regulate anything.......but then they already are involved. True free market will work, it's government interference that gets in the way and messes it up. Basic Economics 101.
We aren't driving because we are afraid of what is coming. We are pulling our chips off the table. Not sure if free market will really work here - free market theory supposes the supplier will set a price based on cost and demand. right now the cost is so low, and the demand is down so suppliers are stockpiling the gas - that behavior doesn't factor into the economists view of the world. I think a lot of people aen't driving because we learned we didn't have to last year when the prices were up and we found out slowing down does make some sense. I used to go to the "big town" about 50 miles each way every weekend - sometimes more than once. when gas got high I got out of the habit and started making less trips everywhere, unless they are for something I really want to do. I save gas, I am not as tired, my car will last longer (269,000 miles on it today  ) and I get to enjoy other things. |
| Gas really is a pretty fair price right now. I can't complain. Companies HAVE to make money. It's not greed, it's business. If you aren't making money, then it isn't a business, it's a hobby.
I heard a great line on a talk radio station the other day that came to mind when reading this "How come when someone wins the lottery and has over $50 million dollars overnight, we love them, but if you're a CEO of a company that has worked hard to get where they are and make a huge profit of the same amount, we hate you?" |
| Oil is set by OPEC. Until the US get's OUT of OPEC and we do our own gas, build more refineries and lines and storage, we WILL be forever dependent upon the prices set by OPEC.
Gas and oil used to be very plentiful and reasonably priced in the USA before OPEC. When you are driving in the 'oil' part of the country and you see all of those pumpjacks sitting idle and not moving you can thank OPEC and us joining them for that. We the USA have plenty of oil underneath us to last us for thousands of years........ but we are not allowed ot use it as long as we are in OPEC. Those pump jack's cannot just have a switch just flipped to turn them on. once they have been turned off, the well must be totally redrilled (and that costs a lot of money) before they can be used again. They are drilling like mad, and have been here where i live, every 2 miles it seems putting in more wells, so if anyone wants to blame anyone, blame OPEC and ask your political reps to get us OUT. The middle east rules OPEC and they are the ones that set the prices to go up or down. As they see us not using the oil, they are going to raise the prices.... |
| Ali, Thank you so much for that info. I learned alot. Makes more sence to me now.
I still feel the people are being jerked around and we have no say. |
| Ali,
Ali wrote: Until the US get's OUT of OPEC Neither the US, Mexico, Canada, Russia nor any European nation are a member of OPEC (see http://www.opec.org/library/FAQs/aboutOPEC/q3.htm) Ali wrote: As they see us not using the oil, they are going to raise the prices.... This is simply not the way it works -- prices are not set by OPEC although they try to control the supply of oil available. Prices rise when usage and demand rises, not the other way around.Ali wrote: We the USA have plenty of oil underneath us to last us for thousands of years........ but we are not allowed ot use it as long as we are in OPEC. where did you get the idea that the US has enough oil to last for thousands of years? |
Ron wrote: Ali, Ali wrote: Until the US get's OUT of OPEC Neither the US, Mexico, Canada, Russia nor any European nation are a member of OPEC (see http://www.opec.org/library/FAQs/aboutOPEC/q3.htm) This is what I thought also. Ron wrote: Ali wrote: As they see us not using the oil, they are going to raise the prices.... This is simply not the way it works -- prices are not set by OPEC although they try to control the supply of oil available. Prices rise when usage and demand rises, not the other way around.So why are prices going up again. Ron wrote: Ali wrote: We the USA have plenty of oil underneath us to last us for thousands of years........ but we are not allowed ot use it as long as we are in OPEC. where did you get the idea that the US has enough oil to last for thousands of years?I thought we were short on oil here and thats why we are looking for other energy sorces. |
| New Mexico is one of the richest natural gas states and we have a fair amount of oil over by Texas. Problem is the state has enacted enviromental regulations that are "a bit strict" and now the drillers have pulled up and left the state, leaving the state coffers in dire straits.
Also with oil prices so low, that too affects oil drilling.........but sure doesn't seem to affect gas prices.....   |
Code: The last thing we want is the government to regulate anything.......but then they already are involved. True free market will work, it's government interference that gets in the way and messes it up. Basic Economics 101. [quote] There's nothing of economics in that statement, but there is plenty of political opinion in it. That's not the same thing. I am sure it would be useless to remind everyone that one of the reasons the economy is in such dire straits is that the lending industry has been so un-regulated by the government. I have to say that I am personally grateful that the government regulates standards for food safety, safety in transportation, and quite a few other things. [/quote] |
Quote: The last thing we want is the government to regulate anything.......but then they already are involved. True free market will work, it's government interference that gets in the way and messes it up. Basic Economics 101.
There's nothing of economics in that statement, but there is plenty of political opinion in it. That's not the same thing. I am sure it would be useless to remind everyone that one of the reasons the economy is in such dire straits is that the lending industry has been so un-regulated by the government. I have to say that I am personally grateful that the government regulates standards for food safety, safety in transportation, and quite a few other things. |
guest wrote: I am sure it would be useless to remind everyone that one of the reasons the economy is in such dire straits is that the lending industry has been so un-regulated by the government. One could also assert that regulating banks into making high risk loans to encourage increased home ownership caused the whole thing too.
Likely more a combination of problems and events than any single issue, so even if the banks were more regulated, this would still have occurred, and the same even if the banks hadn't made weak loans. The people in the business were screaming for more than a year that there was a liquidity crisis in the market and nothing was done until it all collapsed. Actually I think the Fed raised rates one more time after the crisis began, but I'd have to go back and look at events. Plenty of blame to go around there. |
guest wrote: I have to say that I am personally grateful that the government regulates standards for food safety, safety in transportation, and quite a few other things. Yeah, I'm sure all the people who got sick or died from the tainted peanut butter are grateful for the FDA... |
| Are you kidding me? The people who got sick and died from contaminated food did so because FDA regulations were violated, not because food safety standards are put into place. The fact that the cause of the outbreak was found as quickly as it was is because of regulations and inspections and the FDA.
What do you suppose would happen if there were no regulations regarding food production and processing? Ron, you are exactly correct: more than one factor contributed to the current financial collapse. Lack of oversight was one--but only one of those factors. |
| I was thinking about this today as I was in my car...
Thinking about how it would be if there was no government. There's be no traffic lights. And if there were local government there might be traffic lights but they'd differ from town to town, or from state to state. how there's be few roads and fewer interstates and all of those would likely be very high tolls. How I wouldn't be able to trust (somewhat!) what the drug companies had to say about their products especially with regard to their safety and efficacy. How would I know that insulin pump my wife is wearing wouldn't have a malfunction and kill her with just a tiny bit too much insulin. It's all a question of degree. (It's amazing I don't get into traffic accidents while doing this deep thinking, eh?) |
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