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Post by 911: Inside Job on Nov 19, 2006 23:23:39 GMT -4
Gas prices creep up after electionBy DALE KASLER
Sacramento BeeConspiracy or market forces? Depends on whether you tend to believe in the coincidence vs. conspiracy theory of history. I favor the latter. The current Republicans are practically a governmental branch of the oil industry. [Edited by LunarOrbit. Please do not post copyrighted material directly into the forum. A hyperlink will do.]
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Post by echnaton on Nov 19, 2006 23:30:00 GMT -4
We know how OPEC controls prices. They have flexed their mussels many times before. Though the control is not as strong as in past years, they currently have significant market power because of the tightness in excess production capacity. By what mechanism can the government control oil prices? Give us some details.
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Post by PhantomWolf on Nov 19, 2006 23:30:32 GMT -4
Friday 18th Nov 2006Crude oil prices tumbled to their lowest levels in nearly 17 months on speculation that a further production cut by OPEC would not have much impact on prices. OPEC had decided to cut production quotas recently, but prices have continued to fall. Some OPEC officials have stated that member countries may contemplate another cut shortly to arrest the slide in prices. US crude oil inventories were higher than expected for the latest reporting week, but stocks of natural gas were lower.
Near month futures on the NYMEX lost more than 6 per cent for the week and settled at $55.81 per barrel. Prices had slipped below $55 in intra-day trades on Friday. This is the biggest weekly drop for crude oil prices in more than a year.
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Post by PhantomWolf on Nov 19, 2006 23:32:43 GMT -4
They have flexed their mussels many times before.[homer]Mmmmmmmm, mussels.................[/homer] Sure you don't mean Muscles. 
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Post by PhantomWolf on Nov 19, 2006 23:33:21 GMT -4
Oh, and FF911? Why they heck are you trying to blind us with that awful green writting?
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Post by 911: Inside Job on Nov 19, 2006 23:40:25 GMT -4
Oh, and FF911? Why they heck are you trying to blind us with that awful green writting? Must be your browser. Looks grey in FireFox. I'll change it to maroon. BTW the Bushies are quite friendly with the Saudis. [sarcasm]I'm sure they would have no affect on OPEC's prices.[/sarcasm] And the oil companies would be more than happy to take a hit in short-term profits to get more Republicans elected, regardless of the current price of crude oil. The oil companies determine the pump price, not OPEC. |
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Jason
Pluto
May all your hits be crits
Posts: 5,579
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Post by Jason on Nov 19, 2006 23:52:16 GMT -4
Gasoline prices have not gone up here in Utah.
And if you're looking for a reason for gas prices to go up again, perhaps it's because the oil companies know that any chance of drilling in ANWR just disappeared again.
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Post by 911: Inside Job on Nov 20, 2006 0:03:53 GMT -4
And if you're looking for a reason for gas prices to go up again, perhaps it's because the oil companies know that any chance of drilling in ANWR just disappeared again. That would support the argument that they wanted to elect Republicans vs. Democrats, and would be willing to keep pump prices low before the election. |
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Post by scooter on Nov 20, 2006 9:37:26 GMT -4
Prices just dropped, again, in Colorado. They're expected to be below 2$ by years end, barring unforeseen situations.
Either way, I have a smaller car and a motorcycle so no worries here. Just economics at work. There are a lot of forces at work, including the futures market.
Don't believe everything you read, eh? Another conspiracy theory seems to me. You give the Republicans way more power than they really have.
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Post by echnaton on Nov 20, 2006 10:08:23 GMT -4
BTW the Bushies are quite friendly with the Saudis. [sarcasm]I'm sure they would have no affect on OPEC's prices.[/sarcasm]
Guilt by association is not a valid argument. Care to try again.
The oil companies determine the pump price, not OPEC.
Don't you thing competition plays a role? Unless you are suggesting a cartel among the oil companies. Have any evidence for that?
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Post by PeterB on Nov 21, 2006 0:57:55 GMT -4
911IJ said:
How much effect do you think increasing demand for oil by India and China is having on crude oil prices?
Incidentally, just to show that I don't entirely rule out a little bit of conspiracy theory, here in Canberra, petrol prices spike every second Thursday - on public service pay day.
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Post by PeterB on Jan 21, 2007 0:31:42 GMT -4
I now note that oil prices have dropped so far in the last month or so that fuel prices here in Australia may soon drop below $1.00/litre, from a high of about $1.40/litre mid last year.
How do oil conspiracy theories (OCTs) explain this?
I remember the original idea presented by OC theorists was that Bush invaded Iraq to get cheap oil. Then, when oil prices rose anyway, the theory changed to suggesting that Bush invaded Iraq to get control of the oil so he could jack up the prices and make a big profit. Then, when the prices came down around US election time, Bush was again manipulating the price to get Republicans elected. So now that prices are falling even further, this is because Bush is...what? Fill in the spaces for us.
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Jason
Pluto
May all your hits be crits
Posts: 5,579
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Post by Jason on Jan 21, 2007 0:45:55 GMT -4
Gasoline prices have not noticably increased here in Utah since the election.
The idea that President Bush can somehow secretly manipulate the price of oil is frankly ludicrous.
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Post by 3onthetree on Jan 21, 2007 3:30:08 GMT -4
, this is because Bush is... A prize turkey.... what? It had to be done.
Of all the oil traded only about five percent is real product, the rest is paper oil and the futures market can be affected by all sorts of things, including politics.
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Post by gillianren on Jan 21, 2007 4:10:23 GMT -4
Maybe so, but gas here is still about $2.50 a gallon--roughly the same as it's been (give or take a dime) for months.
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