Gas went from 3.61 to 3.99 withing minutes.

[Polk]

Demand has been going down, just like the value of the dollar.

Except that demand hasn't been going down. While domestic demand has declined, total demand has increased.

Before you lie again provide a source to support your opinion

Oil drops again amid fears of slowing demand
Oil drops again amid fears of slowing demand | Reuters

Even Huffy Puffy the liberal mouth piece is worried

Oil down to near US$106 as China trade slowdown suggests demand could wane

Oil down to near US$106 as China trade slowdown suggests demand could wane

Fears of a decrease in demand. Demand increased in both 2010 and 2011.

World oil demand continued to recover, though at a slower pace. World oil demand increased by 0.9 million bpd in 2011 after a strong increase of 1.6 million bpd in 2010. European sovereign debt crisis, Arab Spring and Earthquake in Japan were the major factors which kept a lid on world oil demand growth. The recovery in 2011 and 2010 came after a steep decline in 2009 by 1.4 million bpd and a slight decline in 2008. The decline in 2008 was the first decline in oil demand since 1983 reflecting the impact of the global financial crisis and the ensuing recession.

And the reason why...

Bulk of the world oil demand growth is expected to have come from China. With the Chinese economy growing at 9.2 percent in 2011, it was no surprise that contributed around 55.0 percent to the overall world oil demand growth, the report noted.

Saudi Gazette - World oil demand continues to recover, though at slower pace

 

[Polk]

Except that demand hasn't been going down. While domestic demand has declined, total demand has increased.

And total production has increased even more.

There's currently an over supply, so it's not supply and demand that's causing this.

Production has increased, but not as fast as the demand growth. You are right, however, that the biggest factor in the current price increase is fears of a war against Iran.

 

[bigrebnc1775]

Except that demand hasn't been going down. While domestic demand has declined, total demand has increased.

And total production has increased even more.

There's currently an over supply, so it's not supply and demand that's causing this.

Production has increased, but not as fast as the demand growth. You are right, however, that the biggest factor in the current price increase is fears of a war against Iran.

In case you missed it I posted a couple of links that stated demand is down.

 

[bigrebnc1775]

Except that demand hasn't been going down. While domestic demand has declined, total demand has increased.

Before you lie again provide a source to support your opinion

Oil drops again amid fears of slowing demand
Oil drops again amid fears of slowing demand | Reuters

Even Huffy Puffy the liberal mouth piece is worried

Oil down to near US$106 as China trade slowdown suggests demand could wane

Oil down to near US$106 as China trade slowdown suggests demand could wane

Fears of a decrease in demand. Demand increased in both 2010 and 2011.

World oil demand continued to recover, though at a slower pace. World oil demand increased by 0.9 million bpd in 2011 after a strong increase of 1.6 million bpd in 2010. European sovereign debt crisis, Arab Spring and Earthquake in Japan were the major factors which kept a lid on world oil demand growth. The recovery in 2011 and 2010 came after a steep decline in 2009 by 1.4 million bpd and a slight decline in 2008. The decline in 2008 was the first decline in oil demand since 1983 reflecting the impact of the global financial crisis and the ensuing recession.

And the reason why...

Bulk of the world oil demand growth is expected to have come from China. With the Chinese economy growing at 9.2 percent in 2011, it was no surprise that contributed around 55.0 percent to the overall world oil demand growth, the report noted.

Saudi Gazette - World oil demand continues to recover, though at slower pace

Demand is down in 2012. It is no longer 2010 or 2011 IT'S 2012

 

[Polk]

Neither of your links say demand is down. It says there are fears demand may decrease. Potential does not equal actual.

 

[bigrebnc1775]

Neither of your links say demand is down. It says there are fears demand may decrease. Potential does not equal actual.

You are not reading anything from those links?

MIXED U.S. DATA

U.S. equities managed to edge higher on data showing U.S. consumer confidence hit a one-year high in February. But an earlier report showing U.S. durable goods orders fell the most in three years in January kept concerns that high oil prices will limit economic growth intact.

American trucks carried less tonnage in January after logging the largest increase in 13 years in December, the American Trucking Associations said, another cautionary signal regarding the economy.

U.S. gasoline demand rose last week versus the previous week, but remained 6.9 percent below the year-ago period, MasterCard said in a weekly report.

OK I'll give you last week demand was up but the previous week demand was down and is down for the year.

 

[Polk]

You realize the United States isn't the entire world oil market, right?

 

[bigrebnc1775]

You realize the United States isn't the entire world oil market, right?

Thats why there are two links and I was waiting on you to suggest something like The U.S. isn't the world
From the other link

Oil prices fell to near US$106 a barrel on Monday as a slowdown in China's trade suggested global demand for crude may be slowing.

 

[Seawytch]

You realize the United States isn't the entire world oil market, right?

Sometimes they get that oil is sold on the world market, sometimes they don't. It depends on who is President as to whether or not they "know" that fact...

 

[Polk]

Once again, may be does not equal is.

Also, you're ignoring the impact of war rhetoric on the price.

 

[Decepticon]

HowStuffWorks "How does oil speculation raise gas prices?"

 

[Full-Auto]

You realize the United States isn't the entire world oil market, right?

Sometimes they get that oil is sold on the world market, sometimes they don't. It depends on who is President as to whether or not they "know" that fact...

Talk about speaking out of both sides of your ass.

You forget what dems said just a few years ago, that was just politics, Obama used that excuse once already on the debt cieling and the useful idiots couldnt forgive him and let it pass fast enough.

 

[bigrebnc1775]

Once again, may be does not equal is.

Also, you're ignoring the impact of war rhetoric on the price.

Global oil demand is forecast to climb to 89.9 mb/d in 2012, a gain of
0.8 mb/d (or 0.9%) on the year. Growth has been curtailed by
0.3 mb/d versus January’s OMR, as the economic growth rate that
underpins the global oil demand outlook has been reduced to 3.3%
from 4.0% previously
http://omrpublic.iea.org/currentissues/full.pdf

 

[bigrebnc1775]

HowStuffWorks "How does oil speculation raise gas prices?"

 

[Polk]

Once again, may be does not equal is.

Also, you're ignoring the impact of war rhetoric on the price.

Global oil demand is forecast to climb to 89.9 mb/d in 2012, a gain of
0.8 mb/d (or 0.9%) on the year. Growth has been curtailed by
0.3 mb/d versus January’s OMR, as the economic growth rate that
underpins the global oil demand outlook has been reduced to 3.3%
from 4.0% previously
http://omrpublic.iea.org/currentissues/full.pdf

That actually supports my point. Right in the first sentence, it says global demand is projected to increase.

 

[bigrebnc1775]

Once again, may be does not equal is.

Also, you're ignoring the impact of war rhetoric on the price.

Global oil demand is forecast to climb to 89.9 mb/d in 2012, a gain of
0.8 mb/d (or 0.9%) on the year. Growth has been curtailed by
0.3 mb/d versus January’s OMR, as the economic growth rate that
underpins the global oil demand outlook has been reduced to 3.3%
from 4.0% previously
http://omrpublic.iea.org/currentissues/full.pdf

That actually supports my point. Right in the first sentence, it says global demand is projected to increase.

Projecting does not mean it's happening, see how that works?

 

[Decepticon]

HowStuffWorks "How does oil speculation raise gas prices?"

So, you're saying that speculation isn't playing a role here?
Noted.

Any other basic realities you want to deny while you're on a roll?
Evolution?
Gravity?
The age of the earth?

 

[bigrebnc1775]

HowStuffWorks "How does oil speculation raise gas prices?"

So, you're saying that speculation isn't playing a role here?
Noted.

Any other basic realities you want to deny while you're on a roll?
Evolution?
Gravity?
The age of the earth?

Dollar devaluation has played a major role in the price of gas at the pumps. Over printing the dollar is obama's fault.

 

[Seawytch]

You realize the United States isn't the entire world oil market, right?

Sometimes they get that oil is sold on the world market, sometimes they don't. It depends on who is President as to whether or not they "know" that fact...

Talk about speaking out of both sides of your ass.

You forget what dems said just a few years ago, that was just politics, Obama used that excuse once already on the debt cieling and the useful idiots couldnt forgive him and let it pass fast enough.

No I didn't forget, I was one of them and I don't recall a lot of people blaming President Bush. In fact, I recall liberals blaming the oil companies and speculators. Polls from then don't differ much from polls now except that 18% blame President Obama and 25% blamed President Bush. Of course, that might have had something to do with the fact that Bush was an oil man that started an unnecessary war in an oil rich country.

 

[Vast LWC]

Not much of a choke point when demand is down.

It is a choke point, because refining capacity is now even lower than the current (low) demand.

If demand rises again, we're all seriously fucked.

When demand is low not much oil is flowing to those choke points, there for no choke point or nothing noticeable.

There is not enough of a demand reduction to negate the effect of these refinery closures.

And certainly if demand goes back up in the future, we'll all be fucked royally.