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

[SniperFire]

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

I thought speculaters was the problem, not supply

Only ******* morons - or Leftist ideologues (which are the same thing) - don't believe quantity supplied affects price.

 

[JRK]

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?

Good Point
The idea there is a group of people sitting aorund in a dark room setting the price of fuel and fuel related commodities is kind of hard to imagine to me
In 08 I would say that the market crashing had some part to do with so many traders getting into that market
But this time its been slow and steady

 

[Staidhup]

Oh well, some people apparently just don't understand the intricacies of the world supply and demand for oil. Furthermore, people in this country haven't come to terms with the fact that the purchasing power of the US dollar has and will continue to decline. In addition, that the price of oil is stated in US dollars only as in international acceptable bench mark trade currency and can't connect the dots, however, this is going to all change in the not so distant future.

 

[Staidhup]

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

Slow down slugger, people still have to chime in about the trilateral committee, or another mysterious conspiracy group manipulating the market. Supply and demand is way too simple yet complex for most to comprehend.

 

[peach174]

This is the report sent to congress on April 15, 2011.
Congress does not want you to know this America.

Depreciating Dollar: Economic Effects and Policy Response - Craig K. Elwell, Craig K. Elwell (au) - Google Books

It is 21 pgs. everyone should read this.

 

[JRK]

Oh well, some people apparently just don't understand the intricacies of the world supply and demand for oil. Furthermore, people in this country haven't come to terms with the fact that the purchasing power of the US dollar has and will continue to decline. In addition, that the price of oil is stated in US dollars only as in international acceptable bench mark trade currency and can't connect the dots, however, this is going to all change in the not so distant future.

You have some good points
in 2007 no-one would have dreamed our credit rating would have been lowered
So your Thread has obvious vaditity within it.

It also amazes me the amount of political rederic that is given to jobs being sent over seas, yet we could bring so many of them back and create so many more with oil extraction, delivary and improved refinement here in this country

 

[CrusaderFrank]

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

um because it won't because those who control the oil won't let the market be flooded with oil.

See?

 

[SniperFire]

lib explanation: Oil is sold on the world market! Supply has no effect on price!

um because it won't because those who control the oil won't let the market be flooded with oil.

see?

lol

 

[uscitizen]

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.

Yep it might, but don't count on it.
Besides if you bought for 550 it is not a problem.

 

[uscitizen]

um because it won't because those who control the oil won't let the market be flooded with oil.

see?

lol

So drill baby drill and pipelines?

 

[JRK]

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.

but you always think this with everything obama does.So in context of that, your point is meaningless.

Do not confuse accurate information with partisan politics

BHO has claimed that it is speculaters, yet his short term solution is to increase the supply, yet I am the problem?

My issue with BHO is information, and the way he shares with the country he is the leader of that information

You will never read any of my threads that will attack him, call him names or wish him any harm
This thread is a result of what he has stated, not me
I just took it and ask a simple question, thats all I have done

 

[JRK]

see?

lol

So drill baby drill and pipelines?

Any-one who thinks that allowing drilling in the US would result in no-one going for it needs to look at the UE rate of ND
3%
Pipe-lines will create 1000s of jobs at refinaries, and should in my opinion be the next thing that should be alowed to expand

 

[SniperFire]

see?

lol

So drill baby drill and pipelines?

Supply only affects price when supply is altered.


L O L

 

[uscitizen]

lol

So drill baby drill and pipelines?

Supply only affects price when supply is altered.


L O L

but if supply is controlled...

You are saying that the pipleine and wells would keep pumping even if the price dropped by 1/2?

 

[SniperFire]

lol

So drill baby drill and pipelines?

Any-one who thinks that allowing drilling in the US would result in no-one going for it needs to look at the UE rate of ND
3%
Pipe-lines will create 1000s of jobs at refinaries, and should in my opinion be the next thing that should be alowed to expand

Jobs and national security issues being critical as well, we know in economics that the next marginal supplier can have a DRAMATIC affect on price.

 

[CrusaderFrank]

see?

lol

So drill baby drill and pipelines?

Works for China Brazil and Cuba

 

[uscitizen]

lol

So drill baby drill and pipelines?

Works for China Brazil and Cuba

Yah well their use is growing ours is declining.
And the govt is involved as well.

Cuba has oil?
Ohh yeah potential offshore oil.

 

[uscitizen]

Chevron Brazil Suits Double to $22 Billion With New Claim
Chevron Brazil Suits Double to $22 Billion With New Claim - Bloomberg

I wonder why the US media was not talking much about this?

 

[SniperFire]

So drill baby drill and pipelines?

Supply only affects price when supply is altered.


L O L

but if supply is controlled...

You are saying that the pipleine and wells would keep pumping even if the price dropped by 1/2?

You seem to be clueless on Saudi's breakeven barrel oil prices, then?

LOL

 

[Old Rocks]

Seems everyone is talking supply. How about demand? For we are exporting gasoline and diesel by the tanker load. Our single biggest export at present. So, if we produce more, we will simply export more. A short term increase in supply will curtail some speculation, but will not curtail demand. Worldwide demand.

Now, I see this nonsense about the US having more oil than Saudi Arabia. Simply nonsense. The carogen in the oil shales is not oil. Take a lot more energy and water to make it into a product that can be refined that even oil sands. The oil sands are located where there is a large supply of water. The oil shales are located in one the dryest areas of the nation. Even if you used the whole of the Green River, you would not have enough water to process that much shale. And you would have a bunch of ranchers and farmers taking potshots at you.

As long as there are people in Europe, Asia, and South America willing to pay $4 and more a gallon, we will also be paying those prices.