Reply With QuoteWell Durandal how much do you think it's going to jump up? Around me it's already $2.80 a gallon.
Lay Down Your Bets: Durandal makes a call
20 bucks says gasoline prices go up again after the elections in November.
I have this itch that says...
Politicians are playing games, talking the oil companies into lowering gasoline prices to take one issue out of campaigns, regardless of party.
Any takers?
We won't see much of any rise till afterwards.
Price right now around the corner from me: 2.29
All bets are off if there is a hurricane that impacts the Gulf Coast States before then.
Well Durandal how much do you think it's going to jump up? Around me it's already $2.80 a gallon.
No takers here... Odds are not good I would win that bet.Originally Posted by Durandal
20 bucks says gasoline prices go up again after the elections in November.
I have this itch that says...
Politicians are playing games, talking the oil companies into lowering gasoline prices to take one issue out of campaigns, regardless of party.
Any takers?
We won't see much of any rise till afterwards.
Price right now around the corner from me: 2.29
All bets are off if there is a hurricane that impacts the Gulf Coast States before then.
Price gouging?
Kind of, but it's still the lingering prices from the labor day weekend. Most likely it'll settle back down to around $2.65.
Go up for how long and at what prices?
One week or sooner post election...Nov. 7 to the 14th....that's the window.
More than .25 USD...
Doubtful. Prices are dropping for a variety of economic reasons - refineries back online, a slow in China's growth, etc. The announcement concerning the new oil find in the Gulf certainly doesn't hurt the big picture either.
oil is on a long-term price reduction and at the same time the investments in new refineries kick in. Sure there will be sudden price spikes depending on mother nature and international politics but not enough to break the trend of lower prices. So, no bet!
you guys make me cry. Gas here is just about 3 bones a gallon
I have read the drivel that oil will come down in price. Yet there has been no given as to why. Primarily.
-The massive economic growth thats putting pressure on oil production has not significantly slowed down as it did in the 70's
-There has been no new large (e.g. north sea) oil fields developed that will bring new supplies to the market like what happened in the 70's
In short all we are seeing at the moment is a drop in price per barrell that was there because of the future markets reaction to war in the middle east. But the long term price for oil is up up up.
And i'm betting a lot more than $20 on that!
You have posted some interesting and thought provoking posts before, but this is the silliest things I have read by the non-moonbat regulars.20 bucks says gasoline prices go up again after the elections in November.
I have this itch that says...
Politicians are playing games, talking the oil companies into lowering gasoline prices to take one issue out of campaigns, regardless of party.
Any takers?
We won't see much of any rise till afterwards.
Price right now around the corner from me: 2.29
All bets are off if there is a hurricane that impacts the Gulf Coast States before then.
Fuel is purchased on the open market, and the recent downturn in price is currently due to an over supply in the worlds production of crude. The worlds largest purchaser of oil is moving from a high demand time into a slower one, ie summer travel season into fall. Gulf of Mexico platforms are finally getting back online and no storms this season have not interupted supply and a new, large untapped source has been proven to hold real value. The BP pipeline issue in Alaska was reported that it can be cleared up in just over a month or so. The change in seasons also sweeps in the change for environmental gas formulations for Americans, resulting in more widely available gas supply to be produced by our limited refineries in the US. Add in Iran's self created, look at me crisis that apparently scared nobody in the oil futures market, there continues to be a glut of crude supply on the open market. It is only gas in the US that is dropping, diesel continues to remain at its current, high price due to assinie sulfer level formula restrictions being placed upon an already heavily burdened refinery infastructure.
This down turn was predicted by industry experts early on in the year, and it follows a year after year trend for crude prices to drop around Labor Day, before demand for winter fuel oil causes another strain upon the refineries in the US. Outside events, like hurricanes and wars can upset this trend, as it has in recent years. So you are correct that oil prices will rise again, shortly after the election, as winter starts to set in. Its just not for the reasons you name.
There is no conspiracy.
I agree with Durandal....that prices will probably rise after the elections.
US energy demand growth continues.
China and Indian energy demand continues at an incredibly high rate.....one important factor.....China is a VERY inefficient user of energy.
The amount of energy required to produce $1 of GDP in China is much higher than in the west so in effect, China's high GDP growth will result in magnified energy consumption.
I do not know about a coordinated effort to "manage" oil prices.
Western oil majors control only an extremely small portion of global reserves and capacity. I don't beieve they possess the horsepower to "manage" prices.
I'm not a conspiracy theorist, but if a small number of extremely well financed and unregulated hedge funds leveraged themselves to the hilt in a coordinated fashion to "bump" prices in the futures market they might be able to affect pricing in the short-term....so it might be theoretically possible.
I would keep a close eye on Iranian rhetoric at the upcoming UN meeting. It could VERY easily shift energy prices in either direction.
My guess is the Iranians would be throwing money away if they didn't fan the flames of energy prices with a vieled or even open threat or three.
Iranian rhetoric has the potential to move pricing $10-15 a barrel(in my opinion) either way.
The higher the price of energy, the less likely the US will act against Iran...so why would Iran play nice, tone down the rhetoric, throw money away, and increase their risk of being attacked?
If I was the Iranian Grand Poobah, I'd say something like:
"Blah blah blah, poor little us, blah, blah world's running out of oil, blah blah, we need civilian nuclear electricity, blah blah, leave us the fcuk alone or we'll turn off the oil spicket and only sell our oil in Yuan and Euro AFTER it hits $100 a barrel....blah blah blah, poor us, do what we say cause you're all a bunch of soft crackheads."
If I was Pope of Iran, I'd sieze the initiative and attempt to manipulate US voter sentiment........place nice with Iran and pay $75 a barrel or play hardball and pay $150, and lose your McMansion, lose your Excursion, lose your job.
Just your guesses or do you have credible studies to support this? Because the state financed Swedish Energy Agency (who btw has a mission to end oil dependancy) doesn't agree and published a nice fat study on the long term reduction in price.
You've been right before about prices... probably so.
I offer this observation. Some time ago gas was between $40-50/bbl
with pump prices in the US hovering around $2.25/gal. Today the
price of a bbl is just over $66 with prices at the pump in the $2.30/gal
range. Obviously there is a true disconnect between the price of a bbl
and the price at the pump.
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