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Old 04-23-2007, 08:40 AM  
Donger Donger is offline
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Gasoline at $4 Coming to a Pump Near You, Unfazed by Rising Tab

http://www.bloomberg.com/apps/news?p...d=afOlUzd30YOo

Pretty alarmist, IMO, but possible.

Spoiler!

Last edited by Donger; 10-10-2014 at 01:43 PM..
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Old 02-21-2011, 12:00 PM   #2131
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Quote:
Originally Posted by KILLER_CLOWN View Post
Time to open up Alaska.
It certainly would help, but doing so wouldn't impact global prices dramatically.
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Old 02-21-2011, 12:05 PM   #2132
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Quote:
Originally Posted by 'Hamas' Jenkins View Post
Which still leaves you a sizable spare capacity even if they were completely shut down, which they won't, and it assumes that no other countries would pick up the slack.

It's another bullshit reason to gouge people, just like the speculative bubble in 2008 when supply was way up and demand was down, yet prices went to their highest in 30 years.

This is all based on the bullshit of selling an inelastic resource as a physical commodity with futures. If you buy up enough futures, you pretty much guarantee the price to go up. Exploit any confidence tremor, and bid them ever-higher.
Speculation certainly drove the prices up in 2008. But, oil is a globally-traded commodity, so I'm not sure who you think the gougers are.

Anyway, even the potential of losing a third of spare capacity is enough to cause a 3% jump.
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Old 02-21-2011, 03:43 PM   #2133
Ugly Duck Ugly Duck is offline
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Originally Posted by KILLER_CLOWN View Post
Time to open up Alaska.
Drilling here won't do anything for the American consumer except the advantage of a weenie drop-in-the-bucket addition to the international market. The US leases oil-drilling areas to the international oil companies. The government used to make money off of the leases until the Bush admin relaxed the royalty payment obligations. Then we started accepting "royalties-in-kind" of oil as payment that mostly goes into our strategic reserve. The oil companies would just suck out the oil & slap it on the international market - the consumer would see zero difference. Why should the oil companies share the spoils with you? - they got it made! Heck - Exxon made like $45 billion in profits in 2009 & paid ZERO federal taxes on the bounty. We taxpayers are even tolerating humongous tax subsidies going to the oil industry. Republicans slammed Obama for suggesting that we reduce the subsidies by $20 billion. Dunno why people think that the oil companies will all of a sudden start sharing the bounty with domestic car-drivers just because they'll suck oil out of fields closer to the US.
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Old 02-21-2011, 04:02 PM   #2134
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Originally Posted by Bugeater View Post
Up to $3.15 here. This is ****ing bullshit.
Cry me a ****ing river. $3.65 here.

I drove by a 76 Station the other day that was at $4.10 for regular unleaded.
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Old 02-21-2011, 04:07 PM   #2135
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Quote:
Originally Posted by Ugly Duck View Post
Drilling here won't do anything for the American consumer except the advantage of a weenie drop-in-the-bucket addition to the international market. The US leases oil-drilling areas to the international oil companies. The government used to make money off of the leases until the Bush admin relaxed the royalty payment obligations. Then we started accepting "royalties-in-kind" of oil as payment that mostly goes into our strategic reserve. The oil companies would just suck out the oil & slap it on the international market - the consumer would see zero difference. Why should the oil companies share the spoils with you? - they got it made! Heck - Exxon made like $45 billion in profits in 2009 & paid ZERO federal taxes on the bounty. We taxpayers are even tolerating humongous tax subsidies going to the oil industry. Republicans slammed Obama for suggesting that we reduce the subsidies by $20 billion. Dunno why people think that the oil companies will all of a sudden start sharing the bounty with domestic car-drivers just because they'll suck oil out of fields closer to the US.
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Old 02-21-2011, 04:48 PM   #2136
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Originally Posted by Buck View Post
Cry me a ****ing river. $3.65 here.

I drove by a 76 Station the other day that was at $4.10 for regular unleaded.
But you have that great weather!
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Old 02-21-2011, 05:45 PM   #2137
teedubya teedubya is offline
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Today's price jump is obviously a result of Libya's unrest... I was watching the prices of oil last night. Gold and silver are reaching some big highs.... silver has reached 30 year highs... Gold hit $1400 today... plus the US markets are closed.

It will be interesting to monitor this evening as the Sydney, Hong Kong and London markets open up.
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Old 02-21-2011, 06:12 PM   #2138
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I'm expecting $6.00 per gallon on July 4th.
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Old 02-21-2011, 06:25 PM   #2139
BigMeatballDave BigMeatballDave is offline
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I'm expecting $6.00 per gallon on July 4th.
Highly doubtful. $4, maybe.
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Old 02-21-2011, 06:29 PM   #2140
Bwana Bwana is offline
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Highly doubtful. $4, maybe.
I would agree, unless some of these other shitweed countries start folding and it slows the transportion and or production of crude.
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Old 02-21-2011, 06:31 PM   #2141
Donger Donger is offline
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Originally Posted by KChiefs1 View Post
I'm expecting $6.00 per gallon on July 4th.
That's crude of about $250/barrel.
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Old 02-21-2011, 06:33 PM   #2142
R8RFAN R8RFAN is offline
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Not only Gas.... Milk is over 5 bucks a gallon at wally world here...
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Old 02-21-2011, 06:34 PM   #2143
Bwana Bwana is offline
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Not only Gas.... Milk is over 5 bucks a gallon at wally world here...
No shit? I'm glad I hate milk.
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Old 02-21-2011, 07:39 PM   #2144
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Not only Gas.... Milk is over 5 bucks a gallon at wally world here...
Where? 3 something here. Lots of cows in Ohio, though.
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Old 02-21-2011, 07:46 PM   #2145
Imon Yourside Imon Yourside is offline
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No shit? I'm glad I hate milk.
Same here.
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