If oil supply has nothing to with the price, then why?????

[JRK]

Obama:
Is Obama wanting to tap the oil reserve again?

I thought speculaters was the problem, not supply

 

[g5000]

Obama:
Is Obama wanting to tap the oil reserve again?

I thought speculaters was the problem, not supply

When Bush tapped the oil reserves in 2008, it broke the backs of the speculators. Oil prices plummeted.

 

[uscitizen]

Obama:
Is Obama wanting to tap the oil reserve again?

I thought speculaters was the problem, not supply

When Bush tapped the oil reserves in 2008, it broke the backs of the speculators. Oil prices plummeted.

Umm the recession had something to do with it as well.

 

[g5000]

Obama:
Is Obama wanting to tap the oil reserve again?

I thought speculaters was the problem, not supply

When Bush tapped the oil reserves in 2008, it broke the backs of the speculators. Oil prices plummeted.

Umm the recession had something to do with it as well.

Not really. The price of oil shot up because everyone was running away from equities.

 

[JRK]

When Bush tapped the oil reserves in 2008, it broke the backs of the speculators. Oil prices plummeted.

Umm the recession had something to do with it as well.

Not really. The price of oil shot up because everyone was running away from equities.

Congress defies Bush on oil reserve - CNN
But I thought the supply was not the problem?
If the equities are the issue, then tapping into the reserves will do little. right?
I mean which is it, supply or speculators?
little of both?
allowing a volitlie situation to exist due to the dependence we have on the middle east as well as Candas sands going east and not south may have something to do with those evil "speculators"

 

[initforme]

There is no shortgage of gas. That isnt the problem. I spoke to the gas station owner yesterday as I filled up(its been a month since the last fill up), anyway, he said that there is absolutely no shortage of gas. He blames the speculators artificially driving the costs up and claimed they are driving business away. Thats his take.

 

[The T]

Obama:
Is Obama wanting to tap the oil reserve again?

I thought speculaters was the problem, not supply

And using the strategic reserves in this manner is disingenuous, and dangerous.

 

[CrusaderFrank]

Lib explanation: Oil is sold on the World Market! Supply has no effect on price!

 

[g5000]

Umm the recession had something to do with it as well.

Not really. The price of oil shot up because everyone was running away from equities.

Congress defies Bush on oil reserve - CNN
But I thought the supply was not the problem?
If the equities are the issue, then tapping into the reserves will do little. right?
I mean which is it, supply or speculators?
little of both?
allowing a volitlie situation to exist due to the dependence we have on the middle east as well as Candas sands going east and not south may have something to do with those evil "speculators"

Equities were the issue in 2008. The impending credit crisis was causing investors to flee the stock market. So they began parking their money in commodities. And then later, after Bush popped that bubble, they fled commodities and flooded Treasuries. Treasuries are now in a historic record-breaking bubble.

In 2005, the oil bubble was the result of Hurricane Katrina.

This year, it is possible war with Iran.

The common factor between all three is "fear".

It is not a supply problem. It is fear of a supply problem.

 

[NYcarbineer]

Who ever said supply had nothing to do with price?

 

[initforme]

Learn how to drive less. Adapt. Ride a bike. Walk to work. Move closer to work. Carpool. If those dont apply, then spend more at the pump. The oil companies are their own world. Untouchable. Might as well accept it. They got us right where they want us.

 

[g5000]

I am intimately familiar with the movements of commodities prices. That is my forte and I have made a shit ton of money riding them for the past several years.

I prefer metals to oil, though. But not gold. Gold is overrun with cow-brained speculators. Fricking stampeding mindless rubes running to and fro.

 

[CrusaderFrank]

Who ever said supply had nothing to do with price?

You fucking morons say it all the time

 

[NYcarbineer]

I am intimately familiar with the movements of commodities prices. That is my forte and I have made a shit ton of money riding them for the past several years.

I prefer metals to oil, though. But not gold. Gold is overrun with cow-brained speculators. Fricking stampeding mindless rubes running to and fro.

Gold may be the next bubble to burst.

 

[JRK]

There is no shortgage of gas. That isnt the problem. I spoke to the gas station owner yesterday as I filled up(its been a month since the last fill up), anyway, he said that there is absolutely no shortage of gas. He blames the speculators artificially driving the costs up and claimed they are driving business away. Thats his take.

Then why would adding to the oil supply change the price?
Thats the question I would have asked him

If we have a glut of fuel/oil and the market is being driven by un ethical traders, then why would it effect there trading price?

Look I hate paying 4.00 a gallon as much as you, my issue with oil being extracted here as well as pipelines is jobs
The Job market no matter what people are saying is still a mess. We need that sector to be borught back home big time in my opinion

 

[The T]

Who ever said supply had nothing to do with price?

You fucking morons say it all the time

Until the situation warrants thier duplicity.

 

[JRK]

Not really. The price of oil shot up because everyone was running away from equities.

Congress defies Bush on oil reserve - CNN
But I thought the supply was not the problem?
If the equities are the issue, then tapping into the reserves will do little. right?
I mean which is it, supply or speculators?
little of both?
allowing a volitlie situation to exist due to the dependence we have on the middle east as well as Candas sands going east and not south may have something to do with those evil "speculators"

Equities were the issue in 2008. The impending credit crisis was causing investors to flee the stock market. So they began parking their money in commodities. And then later, after Bush popped that bubble, they fled commodities and flooded Treasuries. Treasuries are now in a historic record-breaking bubble.

In 2005, the oil bubble was the result of Hurricane Katrina.

This year, it is possible war with Iran.

The common factor between all three is "fear".

It is not a supply problem. It is fear of a supply problem.

What ubble did GWB pop?
What does this thread have to do with GWB?
And if you had oil rigs sitting in every state that had the supply to make profit, then those issues as well as 100s of thousands of jobs it would create would solve allot of problems

And the sh-- pot money you made on commodities would be pale to the money you would have made trading AAPL from 3/2009 until today
Takr your pick
I do agree that there is a ton of money sitting on the side-line, Capital gains as well as not knowing what secto BHO is going to attack next may have something to do with that

 

[Flopper]

The international supply of oil, not the US supply has everything to do with price. In 2011, the US produced 8.91% of the world's oil with 7.9% of the world's oil reserves. Even if the US matched it's peak production in 1970, it would still only be producing 11% of the world's oil. By comparison, OPEC produces over 40% of world's oil with 77% of the world oil reserves. If we opened up ever piece of protected land in the country to drilling, the US could not produce enough oil to have a major long effect on all prices.

Oil Reserves By Country 2011
List of countries by oil production - Wikipedia, the free encyclopedia
Peak oil - Wikipedia, the free encyclopedia

 

[JRK]

The international supply of oil, not the US supply has everything to do with price. In 2011, the US produced 8.91% of the world's oil with 7.9% of the world's oil reserves. Even if the US matched it's peak production in 1970, it would still only be producing 11% of the world's oil. By comparison, OPEC produces over 40% of world's oil with 77% of the world oil reserves. If we opened up ever piece of protected land in the country to drilling, the US could not produce enough oil to have a major long effect on all prices.

Oil Reserves By Country 2011
List of countries by oil production - Wikipedia, the free encyclopedia
Peak oil - Wikipedia, the free encyclopedia

I have a capped well on my property from the early 60s
Ina state that we will nevr drill in
Your thread has very good onformation it, exceot I dis agree with you last claim IF you add the oil Canada has that is making the trip east more than south as we speak

The problem with oil extraction in the US is not the supply, its the place we will never touch
in fact there are those who claim ( i am not smart enough to weed thru all the lies with this stuff)
United States Now Has More Oil Than Saudi Arabia: Obama Bans U. S. Drilling: Forces Our Money To Islamic Nations For Oil. | Political Vel Craft

All i know is if its good, we can get to it, we should be drilling for it, for the jobs
Not the oil

 

[peach174]

There is no shortgage of gas. That isn't the problem. I spoke to the gas station owner yesterday as I filled up(its been a month since the last fill up), anyway, he said that there is absolutely no shortage of gas. He blames the speculators artificially driving the costs up and claimed they are driving business away. Thats his take.

It's not the speculators.
It's the depreciation of our dollar.
How much is the U.S. dollar worth?