Want lower fuel prices?
05-28-2008, 07:04 PM
#2
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Wrong forum.
Fuel prices are not high because of supply and demand, and only about 20% of our imported oil comes from those "unstable" countries. Matter of fact, Canada is our largest "foreign oil" supplier.
Fuel prices are not high because of supply and demand, and only about 20% of our imported oil comes from those "unstable" countries. Matter of fact, Canada is our largest "foreign oil" supplier.
05-29-2008, 01:16 AM
#4
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and people must remember that the american dollar is half of what the euro dollar is, the dollar is weak. good gas prices are from when the dollar was strong and worth more than the euro dollar and alot of other currencies
05-29-2008, 01:28 AM
#6
There are many things that are contributing to the higher fuel costs, demand is up world wide on oil, consumer confidence domestically is down, so investors are moving their money out of the US dollar, and into commodities like oil and gold driving their prices up, and the weak dollar because of inflation, is driving up the costs of gas in this country. The dollar is very weak, and is being heavily hedged towards commodities, and that is the main driving factor for the high cost of oil in the US. Also, by 2010-2012, depending on how high oil consumption rises as China, and other developing countries consume oil for growth, we will be reaching peak production, which is when half of the world's oil supply is used up...basically consider this point in time the end of our civilization as we know it because energy costs will go through the roof...anyone ready for 300-400 dollars a barrel for oil? I will when I'm invested in it =D Just make sure you get into it when the high oil costs collapses in the near future, or else you'll lose a good bundle of cash. Also, get into Green technologies after the oil crunch collapses, or else just short it.
Best
Best
05-29-2008, 03:28 AM
#7
TECH Addict
Demand for oil is only up marginally, demand for gas is actually lower because the major consumers have become more efficient over the past several years. The main drivers for higher prices are speculators and the weaker dollar. If we address the speculators, we will see a major impact on both the price per barrel and the value of the dollar since an improvement in the overall economic situation due to improved fuel prices will strengthen dollar.
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05-29-2008, 04:05 AM
#8
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Demand for oil is only up marginally, demand for gas is actually lower because the major consumers have become more efficient over the past several years. The main drivers for higher prices are speculators and the weaker dollar. If we address the speculators, we will see a major impact on both the price per barrel and the value of the dollar since an improvement in the overall economic situation due to improved fuel prices will strengthen dollar.
05-29-2008, 04:15 AM
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wow! 
Demand for oil is only up marginally, demand for gas is actually lower because the major consumers have become more efficient over the past several years. The main drivers for higher prices are speculators and the weaker dollar. If we address the speculators, we will see a major impact on both the price per barrel and the value of the dollar since an improvement in the overall economic situation due to improved fuel prices will strengthen dollar.
05-29-2008, 04:32 AM
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Demand for oil is only up marginally, demand for gas is actually lower because the major consumers have become more efficient over the past several years. The main drivers for higher prices are speculators and the weaker dollar. If we address the speculators, we will see a major impact on both the price per barrel and the value of the dollar since an improvement in the overall economic situation due to improved fuel prices will strengthen dollar.
Prices are STILL a direct reflection of supply and demand.
Consumption of oil worldwide is at a record high, driven by developing Asian economies and lack of refineries. OPEC nations are maintaining production at current levels to keep barrel prices high. Increase output by oil supplying nations and you lower traded cost.
At least no one is crying about the "Evil Oil Companies."
05-29-2008, 10:23 AM
#11
Thank you Chief, demand worldwide is at record highs, its not just a domestic thing. There are many things that are contributing to the increased fuel prices...
Demand WORLDWIDE is rising while supply remains constant
Oil and gold being hedged against the dollar
weak economy with low consumer confidence creating the weak dollar
If you want to see something really interesting, check out ticker symbol "O" those who know what they're doing will see something pretty amazing haha...
Demand WORLDWIDE is rising while supply remains constant
Oil and gold being hedged against the dollar
weak economy with low consumer confidence creating the weak dollar
If you want to see something really interesting, check out ticker symbol "O" those who know what they're doing will see something pretty amazing haha...
05-29-2008, 11:57 AM
#14
Demand for oil is only up marginally, demand for gas is actually lower because the major consumers have become more efficient over the past several years. The main drivers for higher prices are speculators and the weaker dollar. If we address the speculators, we will see a major impact on both the price per barrel and the value of the dollar since an improvement in the overall economic situation due to improved fuel prices will strengthen dollar.
05-29-2008, 08:40 PM
#15
TECH Addict
Address the speculators? Yeah, right. Trading commodities is legal and international, what exactly do you want to do about trading in commodities? Say, "pretty please?"
Prices are STILL a direct reflection of supply and demand.
Consumption of oil worldwide is at a record high, driven by developing Asian economies and lack of refineries. OPEC nations are maintaining production at current levels to keep barrel prices high. Increase output by oil supplying nations and you lower traded cost.
At least no one is crying about the "Evil Oil Companies."
Prices are STILL a direct reflection of supply and demand.
Consumption of oil worldwide is at a record high, driven by developing Asian economies and lack of refineries. OPEC nations are maintaining production at current levels to keep barrel prices high. Increase output by oil supplying nations and you lower traded cost.
At least no one is crying about the "Evil Oil Companies."
OPEC only accounts for about 25% of supply
I see no evidence of lack of refinery capacity
Speculators or driving the price up because the hedge funds are buying and they know oil companies will pay - after all they make their percentage irrespective of price - thus the record profits.
Europe is looking to pass laws right now to stop the speculators.
05-29-2008, 09:44 PM
#17
Address the speculators? Yeah, right. Trading commodities is legal and international, what exactly do you want to do about trading in commodities? Say, "pretty please?"
Prices are STILL a direct reflection of supply and demand.
Consumption of oil worldwide is at a record high, driven by developing Asian economies and lack of refineries. OPEC nations are maintaining production at current levels to keep barrel prices high. Increase output by oil supplying nations and you lower traded cost.
At least no one is crying about the "Evil Oil Companies."
Prices are STILL a direct reflection of supply and demand.
Consumption of oil worldwide is at a record high, driven by developing Asian economies and lack of refineries. OPEC nations are maintaining production at current levels to keep barrel prices high. Increase output by oil supplying nations and you lower traded cost.
At least no one is crying about the "Evil Oil Companies."
There is a huge demand, and industry cannot find and refine enough to meet demand. Simple as that.
05-29-2008, 09:47 PM
#18
For those really interested, surprisingly the gasoline component of oil is not the major driver in price anymore - what really is kicking into effect is the demand for diesel, kerosene, heating oil...the middle distillates. Blame developing countries.
05-29-2008, 10:44 PM
#19