Lower demand for oil drops price

[Chris]

Oil prices drop on lower demand....

HamptonRoads.com | PilotOnline.com

 

[DiamondDave]

Your myth posting continues

As stated SO many times... the demand for oil, the miles driven, etc was continually on the decline for over a YEAR prior to the gas price drop....

You simply REFUSE to understand that there are many more market influences in this WORLDWIDE market

 

[Care4all]

Your myth posting continues

As stated SO many times... the demand for oil, the miles driven, etc was continually on the decline for over a YEAR prior to the gas price drop....

You simply REFUSE to understand that there are many more market influences in this WORLDWIDE market

we are 1 country out of all the countries in the world using oil, this is true...but we CONSUME 27% of the world's oil used, each and every year....the next CLOSET country's consumption to ours is around 7% of the world's oil supply and this is China.

THIS is why what we do in conservation, immediately hits market price...

And yes, our dollar has something to do with it...and the consumption of other countries has something to do with it...and our near recession has something to do with it etc...., but the USA'S demand being cut on the world's supply is what impacts the price of oil.. near instantly...due to our huge percentage of consumption on the world's market...

care

 

[editec]

The price of oil has many causes, and yes, reduced use does tend to drive down the price of it, barring anything else changing at the same time.

 

[DiamondDave]

Care... yet kirk contends conservation is the whole reason it went down in August... even though the trend and total picture does not show that since the downward mileage and usage trend would have driven the prices down for the entire previous year...

Yes... demand changes effect the price of oil... but our 'conservation' was not the only reason behind the price drop....

kirk refuses to deal with reality

 

[Chris]

Care... yet kirk contends conservation is the whole reason it went down in August... even though the trend and total picture does not show that since the downward mileage and usage trend would have driven the prices down for the entire previous year...

Yes... demand changes effect the price of oil... but our 'conservation' was not the only reason behind the price drop....

kirk refuses to deal with reality

Why do you lie? I NEVER said conservation was the whole reason for the drop in price. I said lower demand was the reason. Supply and demand sets the price of oil.

 

[sealybobo]

Why do you lie? I NEVER said conservation was the whole reason for the drop in price. I said lower demand was the reason. Supply and demand sets the price of oil.

You forgot the elections are coming and the Oil Companies really prefer the GOP be in charge. That's another BIG reason why speculators aren't raping us at the pumps right now.

Put McCain into office and gas will be $5 a gallon next year. And the GOP will blame the Democrats.

 

[Zoomie1980]

Why do you lie? I NEVER said conservation was the whole reason for the drop in price. I said lower demand was the reason. Supply and demand sets the price of oil.

Lower demand is not the reason. Not the REAL reason. It is the FEAR of lower long term demand than what was thought a year ago that has all the hedge funds doing what they did in housing, and what they did 10 years ago with tech stocks....bail, since the money making days are gone in oil for a while. It the wholesale flight from oil by Wall St firms fueled by a fear psychology of too much supply.

We never had a shortage, so the run up was ridiculous, a fear coupled with the ever present Lemming effect on Wall St. Likewise, there is no less long term future demand today than there was a year ago or at the peak of the run up.

And you can add the strengthening dollar to help exagerate the effect.

I've always said markets will turn when the MOOD changes, not the supply-demand-cost facts. And the mood fundamentally altered with oil hit $140 and gasoline in America hit $4.00. Once a mood is set in these days, hold on.

 

[chapstic]

oil prices went down because barack hussein obama told us to inflate our tires and we all listened.

 

[Chris]

oil prices went down because barack hussein obama told us to inflate our tires and we all listened.

He's smarter than you are.

 

[DiamondDave]

He's smarter than you are.

Yet another in the long line of idiotic posts by the libtroll

Listen kirk... you have attributed everything to less miles driven because of 'conservation' in the month of July... and this has been completely blown out of the water... you have also stated that conservation and alternatives being the only answers, which has also been completely shot dead...

You fail to grasp that it is not just drilling as mentioned by a few... and it is not just believing in alternatives and 'conservation' (or forced checks on how you drive or set your thermostat or whatever, which would have to go hand-in-hand with the control mandates mentioned by environazis)... it will take drilling and efficiency in oil technologies and the use of nukes in the shorter terms... continual research and improvement in alternatives to make them viable (no, they are not now)... deployment of the then improved alternatives in the late-mid to long term when they become viable in the quantities needed... weening down to much smaller levels of oil in the long term, though we will never be off the use of oil in any foreseeable future

 

[Chris]

Yet another in the long line of idiotic posts by the libtroll

Listen kirk... you have attributed everything to less miles driven because of 'conservation' in the month of July... and this has been completely blown out of the water... you have also stated that conservation and alternatives being the only answers, which has also been completely shot dead...

You fail to grasp that it is not just drilling as mentioned by a few... and it is not just believing in alternatives and 'conservation' (or forced checks on how you drive or set your thermostat or whatever, which would have to go hand-in-hand with the control mandates mentioned by environazis)... it will take drilling and efficiency in oil technologies and the use of nukes in the shorter terms... continual research and improvement in alternatives to make them viable (no, they are not now)... deployment of the then improved alternatives in the late-mid to long term when they become viable in the quantities needed... weening down to much smaller levels of oil in the long term, though we will never be off the use of oil in any foreseeable future

More lies....

I NEVER said alternative energy was the only answer. If you read my posts, I'm in favor of drilling, conservation, wind power, and solar power.

 

[busara]

Yet another in the long line of idiotic posts by the libtroll

Listen kirk... you have attributed everything to less miles driven because of 'conservation' in the month of July... and this has been completely blown out of the water... you have also stated that conservation and alternatives being the only answers, which has also been completely shot dead...

You fail to grasp that it is not just drilling as mentioned by a few... and it is not just believing in alternatives and 'conservation' (or forced checks on how you drive or set your thermostat or whatever, which would have to go hand-in-hand with the control mandates mentioned by environazis)... it will take drilling and efficiency in oil technologies and the use of nukes in the shorter terms... continual research and improvement in alternatives to make them viable (no, they are not now)... deployment of the then improved alternatives in the late-mid to long term when they become viable in the quantities needed... weening down to much smaller levels of oil in the long term, though we will never be off the use of oil in any foreseeable future

you yell at kirk and not chapstick? at least yell at both

 

[chapstic]

you yell at kirk and not chapstick? at least yell at both

i don't start 13/14 threads a day coming up with asinine conclusions to this, that, and the other.

 

[editec]

oil prices went down because barack hussein obama told us to inflate our tires and we all listened.

Okay, now...that was funny, Chaps.

 

[plt42]

on the news 2 days ago...

Corpus Christi, TX ... July 2008... less miles driven... decreased fuel demand... less tax revenue collected... road improvements delayed or postponed

and where does it go from there?

 

[JimH52]

Originally Posted by chapstic
oil prices went down because barack hussein obama told us to inflate our tires and we all listened.

He's smarter than you are.

He's smarter than you are.

 

[JimH52]

Its a catch 22.

Gas prices go down, the taxes collected are less and capital projects suffer.

Personally, I will take the lower gas prices every time.

 

[Zoomie1980]

we are 1 country out of all the countries in the world using oil, this is true...but we CONSUME 27% of the world's oil used, each and every year....the next CLOSET country's consumption to ours is around 7% of the world's oil supply and this is China.

THIS is why what we do in conservation, immediately hits market price...

And yes, our dollar has something to do with it...and the consumption of other countries has something to do with it...and our near recession has something to do with it etc...., but the USA'S demand being cut on the world's supply is what impacts the price of oil.. near instantly...due to our huge percentage of consumption on the world's market...

care

Most of the move in prices is speculators, in particular the large hedge funds, jumping ship as they know that this run is long over. 260 BILLION came into the oil market about two years ago and most of it will leave in the next year. The result is not just a drop but a CRASH. And oil went down 25% in a month and may end up losing HALF it's value in less than a year. Make the housing bust seem like a blip.