Gasoline Below $3.00 A Gallon; Thank You Mr. President

[RKMBrown]

SW Arkansas $2.43 damn going down more !!! Thanks Mr President!!

Obama forced the Saudis to lower prices on oil. Oh wait, no they did that, not Obama.

 

[Siete]

SW Arkansas $2.43 damn going down more !!! Thanks Mr President!!

Obama forced the Saudis to lower prices on oil. Oh wait, no they did that, not Obama.

Saudi did nothing more than produce more oil, the global market sets the prices.

durrrrrrr

 

[RKMBrown]

SW Arkansas $2.43 damn going down more !!! Thanks Mr President!!

Obama forced the Saudis to lower prices on oil. Oh wait, no they did that, not Obama.

Saudi did nothing more than produce more oil, the global market sets the prices.

durrrrrrr

Yeah cause generating more oil to lower the price isn't the same as lowering the price.

 

[Siete]

Typical liberal name calling when you have nothing intelligent to say. Thousands of new EPA regulations? Not stifling? So when a new coal mine had spent millions of dollars completing the government studies, acquiring all the permits and approvals, and was literally about to open when the Obama administration up out of the blue made up a whole list of new government requirements and approvals and it came to a screeching halt, not stifling? The problem with liberals is their patent dishonesty. Don't tell me the Obama administration is not stifling the energy industry, FACTS prove otherwise.

I said something you Dip.. oil and gas production is at record levels ... so WTF does a coal mine have to do with oil and gas ?

you're an idiot.

You parroted a nonsense dishonest liberal talking point, followed by typical third grade liberal insults. You're reading comprehension could also use work.

oil production is at record levels ... a liberal talking point ?

riiiiiiiight

 

[Siete]

SW Arkansas $2.43 damn going down more !!! Thanks Mr President!!

Obama forced the Saudis to lower prices on oil. Oh wait, no they did that, not Obama.

Saudi did nothing more than produce more oil, the global market sets the prices.

durrrrrrr

Yeah cause generating more oil to lower the price isn't the same as lowering the price.

now you're catching on.

 

[RKMBrown]

SW Arkansas $2.43 damn going down more !!! Thanks Mr President!!

Obama forced the Saudis to lower prices on oil. Oh wait, no they did that, not Obama.

Saudi did nothing more than produce more oil, the global market sets the prices.

durrrrrrr

Yeah cause generating more oil to lower the price isn't the same as lowering the price.

now you're catching on.

Catching on to why this has nothing to do with Obama? Or catching on to the laws of supply and demand. I assure you I'm brutally aware of said laws.

 

[BluesLegend]

Typical liberal name calling when you have nothing intelligent to say. Thousands of new EPA regulations? Not stifling? So when a new coal mine had spent millions of dollars completing the government studies, acquiring all the permits and approvals, and was literally about to open when the Obama administration up out of the blue made up a whole list of new government requirements and approvals and it came to a screeching halt, not stifling? The problem with liberals is their patent dishonesty. Don't tell me the Obama administration is not stifling the energy industry, FACTS prove otherwise.

I said something you Dip.. oil and gas production is at record levels ... so WTF does a coal mine have to do with oil and gas ?

you're an idiot.

You parroted a nonsense dishonest liberal talking point, followed by typical third grade liberal insults. You're reading comprehension could also use work.

oil production is at record levels ... a liberal talking point ?

riiiiiiiight

Typical liberal name calling when you have nothing intelligent to say. Thousands of new EPA regulations? Not stifling? So when a new coal mine had spent millions of dollars completing the government studies, acquiring all the permits and approvals, and was literally about to open when the Obama administration up out of the blue made up a whole list of new government requirements and approvals and it came to a screeching halt, not stifling? The problem with liberals is their patent dishonesty. Don't tell me the Obama administration is not stifling the energy industry, FACTS prove otherwise.

I said something you Dip.. oil and gas production is at record levels ... so WTF does a coal mine have to do with oil and gas ?

you're an idiot.

You parroted a nonsense dishonest liberal talking point, followed by typical third grade liberal insults. You're reading comprehension could also use work.

oil production is at record levels ... a liberal talking point ?

riiiiiiiight

Its a disgustingly dishonest liberal talking point when attempting to credit oil hater Obama for the increase.

 

[Siete]

SW Arkansas $2.43 damn going down more !!! Thanks Mr President!!

Obama forced the Saudis to lower prices on oil. Oh wait, no they did that, not Obama.

Saudi did nothing more than produce more oil, the global market sets the prices.

durrrrrrr

Yeah cause generating more oil to lower the price isn't the same as lowering the price.

now you're catching on.

Catching on to why this has nothing to do with Obama? Or catching on to the laws of supply and demand. I assure you I'm brutally aware of said laws.

then you're aware of the futures market or a liar... you pick one.

 

[RKMBrown]

Obama forced the Saudis to lower prices on oil. Oh wait, no they did that, not Obama.

Saudi did nothing more than produce more oil, the global market sets the prices.

durrrrrrr

Yeah cause generating more oil to lower the price isn't the same as lowering the price.

now you're catching on.

Catching on to why this has nothing to do with Obama? Or catching on to the laws of supply and demand. I assure you I'm brutally aware of said laws.

then you're aware of the futures market or a liar... you pick one.

The futures market is no more than a collection of buyers and sellers of commodities. You are aware of that or a liar... you pick one.

 

[Siete]

The Determinants of Oil Prices
With oil's stature as a high-demand global commodity comes the possibility that major fluctuations in price can have a significant economic impact. The two primary factors that impact the price of oil are:

• supply and demand
• market sentiment

The concept of supply and demand is fairly straightforward. As demand increases (or supply decreases) the price should go up. As demand decreases (or supply increases) the price should go down. Sound simple? (For background reading, see Economics Basics: Demand And Supply.)

Not quite.

The price of oil as we know it is actually set in the oil futures market. An oil futures contract is a binding agreement that gives one the right to purchase oil by the barrel at a predefined price on a predefined date in the future. Under a futures contract, both the buyer and the seller are obligated to fulfill their side of the transaction on the specified date.


you're an idiot Mr Supply and demand.

 

[RKMBrown]

The Determinants of Oil Prices
With oil's stature as a high-demand global commodity comes the possibility that major fluctuations in price can have a significant economic impact. The two primary factors that impact the price of oil are:

• supply and demand
• market sentiment

The concept of supply and demand is fairly straightforward. As demand increases (or supply decreases) the price should go up. As demand decreases (or supply increases) the price should go down. Sound simple? (For background reading, see Economics Basics: Demand And Supply.)

Not quite.

The price of oil as we know it is actually set in the oil futures market. An oil futures contract is a binding agreement that gives one the right to purchase oil by the barrel at a predefined price on a predefined date in the future. Under a futures contract, both the buyer and the seller are obligated to fulfill their side of the transaction on the specified date.


you're an idiot Mr Supply and demand.

Who is Mr. Supply and demand?

What part of commodities trading goes against supply and demand? Are you mentally handicapped?

 

[Siete]

The Determinants of Oil Prices
With oil's stature as a high-demand global commodity comes the possibility that major fluctuations in price can have a significant economic impact. The two primary factors that impact the price of oil are:

• supply and demand
• market sentiment

The concept of supply and demand is fairly straightforward. As demand increases (or supply decreases) the price should go up. As demand decreases (or supply increases) the price should go down. Sound simple? (For background reading, see Economics Basics: Demand And Supply.)

Not quite.

The price of oil as we know it is actually set in the oil futures market. An oil futures contract is a binding agreement that gives one the right to purchase oil by the barrel at a predefined price on a predefined date in the future. Under a futures contract, both the buyer and the seller are obligated to fulfill their side of the transaction on the specified date.


you're an idiot Mr Supply and demand.

Who is Mr. Supply and demand?

What part of commodities trading goes against supply and demand? Are you mentally handicapped?

If I buy 500 million barrels of oil @ 80$ under a futures contract, and oil increases to 90$ I pay the BINDING contract price of 80 ... said contract set the price not an increase in demand or a decrease in supply ..

get blueballs to explain it to you ..

 

[RKMBrown]

The Determinants of Oil Prices
With oil's stature as a high-demand global commodity comes the possibility that major fluctuations in price can have a significant economic impact. The two primary factors that impact the price of oil are:

• supply and demand
• market sentiment

The concept of supply and demand is fairly straightforward. As demand increases (or supply decreases) the price should go up. As demand decreases (or supply increases) the price should go down. Sound simple? (For background reading, see Economics Basics: Demand And Supply.)

Not quite.

The price of oil as we know it is actually set in the oil futures market. An oil futures contract is a binding agreement that gives one the right to purchase oil by the barrel at a predefined price on a predefined date in the future. Under a futures contract, both the buyer and the seller are obligated to fulfill their side of the transaction on the specified date.


you're an idiot Mr Supply and demand.

Who is Mr. Supply and demand?

What part of commodities trading goes against supply and demand? Are you mentally handicapped?

If I buy 500 million barrels of oil @ 80$ under a futures contract, and oil increases to 90$ I pay the BINDING contract price of 80 ... said contract set the price not an increase in demand or a decrease in supply ..

get blueballs to explain it to you ..

Note: you can only buy at 80 if there is a seller at 80. It's called supply and demand.

 

[Rozman]

What exactly did Obama have to do with it?

 

[BluesLegend]

What exactly did Obama have to do with it?

Prediction...(crickets sound effect)

 

[Siete]

What exactly did Obama have to do with it?

Prediction...(crickets sound effect)

I've said over and over Obama has nothing to do with it ... the only cricket is you. You're an idiot.

 

[Siete]

The Determinants of Oil Prices
With oil's stature as a high-demand global commodity comes the possibility that major fluctuations in price can have a significant economic impact. The two primary factors that impact the price of oil are:

• supply and demand
• market sentiment

The concept of supply and demand is fairly straightforward. As demand increases (or supply decreases) the price should go up. As demand decreases (or supply increases) the price should go down. Sound simple? (For background reading, see Economics Basics: Demand And Supply.)

Not quite.

The price of oil as we know it is actually set in the oil futures market. An oil futures contract is a binding agreement that gives one the right to purchase oil by the barrel at a predefined price on a predefined date in the future. Under a futures contract, both the buyer and the seller are obligated to fulfill their side of the transaction on the specified date.


you're an idiot Mr Supply and demand.

Who is Mr. Supply and demand?

What part of commodities trading goes against supply and demand? Are you mentally handicapped?

If I buy 500 million barrels of oil @ 80$ under a futures contract, and oil increases to 90$ I pay the BINDING contract price of 80 ... said contract set the price not an increase in demand or a decrease in supply ..

get blueballs to explain it to you ..

Note: you can only buy at 80 if there is a seller at 80. It's called supply and demand.

note; Unlike most products, oil prices are not determined entirely by supply, demand and market sentiment toward the physical product. Rather, supply, demand and sentiment toward oil futures contracts, which are traded heavily by speculators, play a dominant role in price determination.

 

[RKMBrown]

The Determinants of Oil Prices
With oil's stature as a high-demand global commodity comes the possibility that major fluctuations in price can have a significant economic impact. The two primary factors that impact the price of oil are:

• supply and demand
• market sentiment

The concept of supply and demand is fairly straightforward. As demand increases (or supply decreases) the price should go up. As demand decreases (or supply increases) the price should go down. Sound simple? (For background reading, see Economics Basics: Demand And Supply.)

Not quite.

The price of oil as we know it is actually set in the oil futures market. An oil futures contract is a binding agreement that gives one the right to purchase oil by the barrel at a predefined price on a predefined date in the future. Under a futures contract, both the buyer and the seller are obligated to fulfill their side of the transaction on the specified date.


you're an idiot Mr Supply and demand.

Who is Mr. Supply and demand?

What part of commodities trading goes against supply and demand? Are you mentally handicapped?

If I buy 500 million barrels of oil @ 80$ under a futures contract, and oil increases to 90$ I pay the BINDING contract price of 80 ... said contract set the price not an increase in demand or a decrease in supply ..

get blueballs to explain it to you ..

Note: you can only buy at 80 if there is a seller at 80. It's called supply and demand.

Unlike most products, oil prices are not determined entirely by supply, demand and market sentiment toward the physical product. Rather, supply, demand and sentiment toward oil futures contracts, which are traded heavily by speculators, play a dominant role in price determination.

You think the futures sellers that had contracts to buy at 120 drove the price down to 40? Dude...

You are correct to say the price of futures markets for commodities are driven in part by people merely gambling regarding the price they can sell oil for. But to sit there and pretend the buyers and sellers don't have a say in the price they will sell and buy at... that's funny. If you don't want your oil to be sold as a commodity over a market.. then don't sell your oil that way. If you don't want to buy oil from a market, then don't. Sure traders can make the price run.. but they can also loose their shirt and they can only run it up as high as buyers will buy. Again if you don't like the price buy somewhere else.

 

[Siete]

a bird shits on a rig in Saudi, the rig is dirty and might fail, the price goes up .... supply, demand or speculation?

 

[Bruce_T_Laney]

Well let thank:

Canada for their oil.

Mexico for their oil.

The Oil Barons of this country.

and OPEC for not cutting their supply as of yet.

As for thanking President Obama for the decrease in Petro prices, well why not thank every President before because the fact is they have had as much to do with the rise and drop of oil prices as President Obama has had!

In the end I will thank our President when a thanks is warranted!