Smart people: Why are gas prices so low? - GoFuckYourself.com

Clay · 10-30-2014, 10:40 AM

I dont watch the news, so whats going on? I just saw $2.79/gallon, I havent seen it that low in years and years

Is it something Obama did?

wehateporn · 10-30-2014, 10:45 AM

Rochard

CourtneyR · 10-30-2014, 10:45 AM

Quote:

Originally Posted by Clay

I dont watch the news, so whats going on? I just saw $2.79/gallon, I havent seen it that low in years and years

Is it something Obama did?

Shhhhhh.... just go with it.

slapass · 10-30-2014, 10:48 AM

Fracking.

Fat Panda · 10-30-2014, 10:50 AM

under obama us oil + gas production is at record levels

he pushed a secret button upon entering the oval office in 2008

Scott McD · 10-30-2014, 10:59 AM

Anything but low over here...

Relentless · 10-30-2014, 11:17 AM

Midterm elections are coming up and the Energy sector people who own your politicians would rather continue owning them than have to go out and buy the new ones.

lezinterracial · 10-30-2014, 11:22 AM

Could be fracking. Could be Saudi's pumping more oil to punish ISIS and Russia. Could be big money pulling their money out of oil due to QE ending soon and rumors of higher interest rates.

WDF · 10-30-2014, 11:22 AM

Quote:

Originally Posted by Relentless

Midterm elections are coming up and the Energy sector people who own your politicians would rather continue owning them than have to go out and buy the new ones.

This!

dyna mo · 10-30-2014, 11:22 AM

there is no correlation between global oil supply/demand and USA midterm elections. or any elections for that matter.

MaDalton · 10-30-2014, 11:23 AM

it was Obamas fault when they went up - now what?

dyna mo · 10-30-2014, 11:25 AM

from my understanding- right now supply exceeds demand primarily because USA is producing shit tons more than ever due to fracking while Asia is needing/buying less oil.

Saudi Arabia (opec leader) is likely letting the prices fall due to being able to afford to in order to damage their competition- iran, isis, russia.

Relentless · 10-30-2014, 11:32 AM

Quote:

Originally Posted by dyna mo

there is no correlation between global oil supply/demand and USA midterm elections. or any elections for that matter.

You can't seriously believe that.... Gas prices are set by a very small group of people in the Energy sector. A short term bump or valley in prices is absolutely something they can collude to happen for a period of a few months. Supply and Demand does not in any way set Energy prices. Speculators and special interests massively impact price in ways that have nothing to do with supply and demand. OPEC has not used supply-based pricing... ever. Neither has Exxon. Gas prices are also not in lock-step with oil prices. For example, the false reason given for recent spikes was a lack of refinery resources not a lack of oil. The real reason for higher gas prices is simpler.... profit.

Your viewpoint on this hasn't been accurate in decades, just as Earnings Per Share used to be important and now has very little to do with stock prices in many cases (and in fact much less than high frequency trading practices have to do with price) - the price of commodities is similarly rigged.

aka123 · 10-30-2014, 11:36 AM

Recession!!

PAR · 10-30-2014, 11:38 AM

Opec's member countries have embarked on an oil price war to preserve market share...

If prices stay at $85, we will see a lot of investment, a lot of oil, going out of the market," he told the conference. "About 65pc of the producers, they have high costs. Not Opec

http://www.telegraph.co.uk/finance/o...oil-price.html

seeandsee · 10-30-2014, 11:41 AM

god knows gas price in my country will go up

dyna mo · 10-30-2014, 11:43 AM

Quote:

Originally Posted by Relentless

You can't seriously believe that.... Gas prices are set by a very small group of people in the Energy sector. A short term bump or valley in prices is absolutely something they can collude to happen for a period of a few months. Supply and Demand does not in any way set Energy prices. Speculators and special interests massively impact price in ways that have nothing to do with supply and demand. OPEC has not used supply-based pricing... ever. Neither has Exxon. Gas prices are also not in lock-step with oil prices. For example, the false reason given for recent spikes was a lack of refinery resources not a lack of oil. The real reason for higher gas prices is simpler.... profit.

Your viewpoint on this hasn't been accurate in decades, just as Earnings Per Share used to be important and now has very little to do with stock prices in many cases (and in fact much less than high frequency trading practices have to do with price) - the price of commodities is similarly rigged.

I very much believe it because people smarter than you (or me) believe it.

either way, what you wrote has nothing to do with the silly notion that USA politicians manipulate global oil prices to influence voting.

Relentless · 10-30-2014, 11:45 AM

Quote:

Originally Posted by dyna mo

I very much believe it because people smarter than you (or me) believe it. either way, what you wrote has anything to do with the silly notion that USA politicians manipulate global oil prices to influence voting.

USA politicians do not manipulate gas prices directly... Exxon, OPEC and others definitely do. One reason they would dip prices is to help incumbents they already own get reelected to office rather than have to deal with new people in office who they would have to buy from scratch.

dyna mo · 10-30-2014, 11:47 AM

Quote:

Originally Posted by Relentless

Gas prices are also not in lock-step with oil prices.

you won't win this argument.

dyna mo · 10-30-2014, 11:47 AM

Quote:

Originally Posted by Relentless

USA politicians do not manipulate gas prices directly... Exxon, OPEC and others definitely do. One reason they would dip prices is to help incumbents they already own get reelected to office rather than have to deal with new people in office who they would have to buy from scratch.

you have absolutely zero proof to back this up.

dyna mo · 10-30-2014, 11:54 AM

Quote:

Originally Posted by Relentless

OPEC has not used supply-based pricing... ever. Neither has Exxon.

The price of crude oil is determined by global supply and demand. In recent years, worldwide demand for crude oil has increased, and at times caused global oil prices to rise. Crude oil is the single-largest factor in determining the price of gasoline at the pump in the United States.

https://www.google.com/search?q=how+...m=0& ie=UTF-8

2MuchMark · 10-30-2014, 11:58 AM

Here you go:

The demand for oil is dropping, and because we are having a warmer fall than predicted, and, because it is expected to be a warmer than usual winter.

Lower demand = lower prices.

There is also too much oil & energy right now. I forget when this happened (last spring?), but the US now exports more than it imports.

On a side note, republicans used to blame Obama for high gas prices. Now that gas prices are low and still dropping, does he get the credit? No of course not. Energy prices are based on supply, demand, and speculation.

http://www.eia.gov/finance/markets/

12clicks · 10-30-2014, 12:00 PM

in my opinion, opec is manipulating price and not cutting supply to bankrupt the frackers. fracking is only profitable above $70 a barrel or so. Drive the price below that for a year, bye bye fracking competition. Do it several times over the next decade, and you'll never have people even trying to frack.
but what do I know.

Bladewire · 10-30-2014, 12:09 PM

Quote:

Originally Posted by aka123

Recession!!

Correct

PAR · 10-30-2014, 12:10 PM

Quote:

Originally Posted by 12clicks

in my opinion, opec is manipulating price and not cutting supply to bankrupt the frackers. fracking is only profitable above $70 a barrel or so. Drive the price below that for a year, bye bye fracking competition. Do it several times over the next decade, and you'll never have people even trying to frack.
but what do I know.

Awe fuck why do I have to agree with you on this... lol

http://www.telegraph.co.uk/finance/o...oil-price.html

Quote:
The drop in the oil price to below $100, the level many Opec members had endorsed, has raised questions over whether Opec will cut supply when it meets in November. Mr Badri said Opec's output was unlikely to change much next year, adding to signs a decision to cut in November is unlikely.

"I don't think 2015 will be far away from 2014 in terms of production," Mr Badri said at the annual Oil & Money conference in London. "There is nothing wrong with the market."
Brent crude has dropped more than a quarter from above $115 per barrel in June as abundant supplies of high-quality oil such as US shale have overwhelmed demand in many markets, filling stocks worldwide.

But lower prices pose a threat to supply outside Opec. While Opec's oil production costs are low, as much as half of shale output would be under threat if prices remain at current levels, Mr Badri said.

"If prices stay at $85, we will see a lot of investment, a lot of oil, going out of the market," he told the conference. "About 65pc of the producers, they have high costs. Not Opec."

Mr Badri did not predict the outcome of Opec's meeting on November 27, saying the decision was up to the group's oil ministers, and appealed for calm over the decline in prices.

"We do not see much change in the fundamentals. Demand is still growing, supply is also growing. Opec is reviewing the situation," he said.

dyna mo · 10-30-2014, 12:12 PM

Quote:

Originally Posted by 12clicks

in my opinion, opec is manipulating price and not cutting supply to bankrupt the frackers. fracking is only profitable above $70 a barrel or so. Drive the price below that for a year, bye bye fracking competition. Do it several times over the next decade, and you'll never have people even trying to frack.
but what do I know.

a good article on that. http://www.theguardian.com/business/...ship-shale-gas

I'm not sure at what price Saudi oil becomes unprofitable but it is much less than the other OPEC countries. Saudi Arabia could very well also be trying to subvert iranian and russian oil.

I wonder how much longer OPEC will go without curbing production ..........

GAMEFINEST · 10-30-2014, 12:15 PM

It is supposed to go up next year

Barry-xlovecam · 10-30-2014, 12:25 PM

Because of global warming we need less heating oil and the oil supply not being refined into heating oil is causing a supply glut of motor vehicle fuels to be refined.

There is more supply than demand for motor vehicle fuels because of the new Chevy Volt

Lose-Win Mark LOL

trevesty · 10-30-2014, 12:33 PM

Quote:

Originally Posted by dyna mo

there is no correlation between global oil supply/demand and USA midterm elections. or any elections for that matter.

12clicks · 10-30-2014, 12:39 PM

Quote:

Originally Posted by PAR

Awe fuck why do I have to agree with you on this... lol

http://www.telegraph.co.uk/finance/o...oil-price.html

Quote:
The drop in the oil price to below $100, the level many Opec members had endorsed, has raised questions over whether Opec will cut supply when it meets in November. Mr Badri said Opec's output was unlikely to change much next year, adding to signs a decision to cut in November is unlikely.

"I don't think 2015 will be far away from 2014 in terms of production," Mr Badri said at the annual Oil & Money conference in London. "There is nothing wrong with the market."
Brent crude has dropped more than a quarter from above $115 per barrel in June as abundant supplies of high-quality oil such as US shale have overwhelmed demand in many markets, filling stocks worldwide.

But lower prices pose a threat to supply outside Opec. While Opec's oil production costs are low, as much as half of shale output would be under threat if prices remain at current levels, Mr Badri said.

"If prices stay at $85, we will see a lot of investment, a lot of oil, going out of the market," he told the conference. "About 65pc of the producers, they have high costs. Not Opec."

Mr Badri did not predict the outcome of Opec's meeting on November 27, saying the decision was up to the group's oil ministers, and appealed for calm over the decline in prices.

"We do not see much change in the fundamentals. Demand is still growing, supply is also growing. Opec is reviewing the situation," he said.

because you want to seem intelligent?

dyna mo · 10-30-2014, 12:43 PM

risky bidness, letting prices drop to crush the competition!

Relentless · 10-30-2014, 12:44 PM

Quote:

Originally Posted by 12clicks

in my opinion, opec is manipulating price and not cutting supply to bankrupt the frackers. fracking is only profitable above $70 a barrel or so. Drive the price below that for a year, bye bye fracking competition. Do it several times over the next decade, and you'll never have people even trying to frack.
but what do I know.

That's not possible! Only Supply and Demand dictate price! Didn't you see that?
Political, regulatory and competitive motivations have nothing to do with price.
Unlike everything else in the world, gas is unique in that only supply and demand matter.

The fact that "supply" is artificially and completely controlled by a tiny group of cartels is irrelevant!

/facepalm

shake · 10-30-2014, 12:45 PM

Supply and Demand...
More supply thanks partly to North american production

Demand is still lower as the global economy still is lagging.

Relentless · 10-30-2014, 12:52 PM

In other news, the price of Cocaine is very high because "supply" is down according to drug dealers... and we all know the actual supply of any commodity is always identical to the real available amount of something. Nobody would ever pretend to have less of something or more of something to artificially dictate price. Nobody... especially not the Good Samaritans who run the oil business.

fitzmulti · 10-30-2014, 12:53 PM

Quote:

Originally Posted by Clay

I dont watch the news, so whats going on? I just saw $2.79/gallon, I havent seen it that low in years and years

Is it something Obama did?

Oil prices dropped...watch the news, man. ;-)

dyna mo · 10-30-2014, 12:54 PM

Quote:

Originally Posted by Relentless

That's not possible! Only Supply and Demand dictate price! Didn't you see that?
Political, regulatory and competitive motivations have nothing to do with price.
Unlike everything else in the world, gas is unique in that only supply and demand matter.

The fact that "supply" is artificially and completely controlled by a tiny group of cartels is irrelevant!

/facepalm

fyi, all supplies are controlled by the suppliers. lolz. Saudi is a supplier, they CHOSE to not decrease supply, consesquently prices are what they are.

Relentless · 10-30-2014, 12:58 PM

http://www.businessweek.com/articles...asoline-prices

Quote:

It’s true that prices do tend to decline in the run-up to Election Day—as they have, nationally, over the past two months. It’s also true that they do the same thing in years when we’re not voting. The effect, however, does appear to be greater in election years.

From 1991 to 2012, national gasoline prices fell by an average of 3.27 percent each year between the July 4th weekend (when demand tends to peak) and the first week of November. During presidential election years, prices fell by more than twice as much, 7.6 percent. Factoring in congressional election years (every even-numbered year), the average price decline is 5.35 percent. The smallest effect happens during odd-numbered years, when no candidates are running for the House of Representatives or Senate, though five states do hold gubernatorial elections. In those years, prices declined by only 0.6 percent......

Tuesday’s election likely boils down to who wins Ohio, where prices have fallen by 55¢ since mid-September—one of the biggest declines in the country.

Price falls 7% more in a Presidential election year than in a year when no candidates are running, and this year supply must really be strong locally from all those oil rigs that litter the Ohio landscape.

dyna mo · 10-30-2014, 01:01 PM

Quote:

Originally Posted by Relentless

http://www.businessweek.com/articles...asoline-prices

did you read the entire article?

from the article-

Quote:

As fun as it may be to think that some hidden political hand is manipulating gasoline prices in the run-up to elections, it?s just not true. Presidents have virtually no power to affect gasoline prices. Even releasing the Strategic Petroleum Reserve tends to be ineffective.

Relentless · 10-30-2014, 01:05 PM

Yes, I looked at the statistics and posted them. You looked at his opinion about the statistics. One is a set of a facts, the other is his personal point of view about those facts. Can you determine which is which? I fully agree politicians do not change gas prices.... I never said they did. The tools available to them would be far too easy for outsiders to notice. What I said, is that the Energy sector changes gas prices to suit their political interests by keeping incumbents in office rather than having to buy new ones or risk a rare independent voice getting elected. That remains... true.

Price is dictated by 'whatever they say supply is' and 'whatever they claim demand is' with a lapdog Congress overseeing it.
They like their lapdogs and know how to keep them on their laps.

PAR · 10-30-2014, 01:07 PM

Quote:

Originally Posted by 12clicks

because you want to seem intelligent?

LOL
I just hate it when you are right and I have to agree with you...
When you're right you're right... But it takes all the fun out of it...

brassmonkey · 10-30-2014, 01:08 PM

filling up demand i think

dyna mo · 10-30-2014, 01:12 PM

Quote:

Originally Posted by Relentless

Yes, I looked at the statistics and posted them. You looked at his opinion about the statistics. One is a set of a facts, the other is his personal point of view about those facts. Can you determine which is which? I fully agree politicians do not change gas prices.... I never said they did. The tools available to them would be far too easy for outsiders to notice. What I said, is that the Energy sector changes gas prices to suit their political interests by keeping incumbents in office rather than having to buy new ones or risk a rare independent voice getting elected. That remains... true.

Price is dictated by 'whatever they say supply is' and 'whatever they claim demand is' with a lapdog Congress overseeing it.
They like their lapdogs and know how to keep them on their laps.

from the article

Quote:

correlation does not equal causation.

do you understand what that means? but again, you have zero proof to back up the preposterous claim that midterm elections are manipulated intentionally by exxon et al changing global oil prices to impact local gas prices because that's cheaper than taking a new incumbent to lunch to get him on the dole.

it also assumes each and every current incumbent is on the dole with exxon et al and doing their bidding, again preposterous.

dyna mo · 10-30-2014, 01:14 PM

Quote:

Originally Posted by Relentless

Yes, I looked at the statistics and posted them. You looked at his opinion about the statistics. One is a set of a facts, the other is his personal point of view about those facts. Can you determine which is which? I fully agree politicians do not change gas prices.... I never said they did. The tools available to them would be far too easy for outsiders to notice. What I said, is that the Energy sector changes gas prices to suit their political interests by keeping incumbents in office rather than having to buy new ones or risk a rare independent voice getting elected. That remains... true.

Price is dictated by 'whatever they say supply is' and 'whatever they claim demand is' with a lapdog Congress overseeing it.
They like their lapdogs and know how to keep them on their laps.

some statistics from your article you conveniently left out:

Quote:

in 2004, prices rose by 4 percent in the four months before the election. They also rose during the same months of 2002, 2003, and 2005.

Relentless · 10-30-2014, 01:17 PM

Quote:

Originally Posted by dyna mo

from the article do you understand what that means? but again, you have zero proof to back up the preposterous claim that midterm elections are manipulated intentionally by exxon et al changing global oil prices to impact local gas prices because that's cheaper than taking a new incumbent to lunch to get him on the dole. it also assumes each and every current incumbent is on the dole with exxon et al and doing their bidding, again preposterous.

You don't think Congress is rigged?

Enough congressional votes exist to have any particular issue go however Energy interests prefer. In each of those votes they can run out a dog and pony show to pretend some people are 'against big oil' and others are 'for big oil' but at the end of the day the votes always seem to come out favoring oil companies, pharma, large banks and other major corporate interests. It may come as a shock to you, but those same interests are also the largest contributors to political candidates... and they can make concessions or affect prices within their sectors to suit those same political interests.

Yes, I know the fact that it keeps happening over and over and over again for decades can be answered by "correlation does not equal causation" but at a certain point if it smells terrible every single time you fart, it's probably a good idea not to fart with your head under the blankets even if you don't know the exact chemical composition of your flatulence to prove cause and effect scientifically.

dyna mo · 10-30-2014, 01:24 PM

Quote:

Originally Posted by Relentless

You don't think Congress is rigged?

Enough congressional votes exist to have any particular issue go however Energy interests prefer. In each of those votes they can run out a dog and pony show to pretend some people are 'against big oil' and others are 'for big oil' but at the end of the day the votes always seem to come out favoring oil companies, pharma, large banks and other major corporate interests. It may come as a shock to you, but those same interests are also the largest contributors to political candidates... and can make concessions or affect prices within their sectors to suit those same political interests.

Yes, I know the fact that it keeps happening over and over and over again for decades can be answered by "correlation does not equal causation" but at a certain point if it smells every single time you fart, it's probably a good idea not to fart with your head under the blankets even if you don't know the exact chemical composition of your flatulence to prove cause and effect scientifically.

HUH? I don't think congress is rigged? I don't even know what that means in this context, congress rigged? like a card game? what?

global oil prices are analogous to farting under the covers?

I see now where your level of understanding is in this.

dyna mo · 10-30-2014, 01:26 PM

NaughtyRob · 10-30-2014, 01:27 PM

fall/winter they go low.... spring/summer they go high. Every year like clockwork.

Relentless · 10-30-2014, 01:37 PM

Quote:

Originally Posted by dyna mo

HUH? I don't think congress is rigged? I don't even know what that means in this context, congress rigged? like a card game? what?

So....
1 - Multibillion dollar oil companies and OPEC have no vested interest in who might win elections in the United States?

2 - These same entities that spend billions funding political campaigns wouldn't also be willing to engage in artificially inflating or deflating prices to suit their political interests?

3 - Prices falling 7% more in an election year than in a non-election year is pure coincidence?

4 - Gas prices dropped by 55 cents (about the largest drop in the country) in Ohio during the run up to the elections this year because Lebron discovered new reserves in the parking lot after a Cavs game?

Have luck.

dyna mo · 10-30-2014, 01:41 PM

a study by Yale economist Ray Fair shows that dating back to 1948, there is little correlation between election results and gas prices.

Take 1992. Gas prices were at their lowest levels in decades. The economy was pulling out of a recession. And the president had just won a war in convincing fashion. What happened next? Voters gave President George H.W. Bush the boot.

Fast forward to 2004. The economy was again pulling out of a recession ? but gas prices were at their highest levels in decades. What happened next? President George W. Bush was re-elected.

on to 2012, gas prices climbed dramatically in the months before Obama was elected.

Rochard · 10-30-2014, 01:43 PM

The United States is now the world's largest oil producer.... We are relying less and less on other countries for our oil needs. One of the biggest markets for oil is buying less oil from foreign governments, leaving the rest to scramble for what is left over. And they are in a price war.

I never understood why the price of oil is controlled by OPEC.

10-30-2014, 10:40 AM	#1
Clay Confirmed User Join Date: Dec 2001 Posts: 735	Smart people: Why are gas prices so low? I dont watch the news, so whats going on? I just saw $2.79/gallon, I havent seen it that low in years and years Is it something Obama did?

10-30-2014, 10:45 AM	#2
wehateporn Promoting Debate on GFY Industry Role: Join Date: Apr 2007 Posts: 27,176	Rochard __________________ Sexy Girls Teasing

10-30-2014, 10:59 AM	#6
Scott McD Too lazy to set a custom title Join Date: Nov 2002 Location: Glasgow, Scotland Posts: 67,795	Anything but low over here... __________________ I Buy My High Quality Traffic Here, You Should Too!

10-30-2014, 11:17 AM	#7
Relentless www.EngineFood.com Industry Role: Join Date: Aug 2006 Posts: 5,697	Midterm elections are coming up and the Energy sector people who own your politicians would rather continue owning them than have to go out and buy the new ones. __________________ Website Secure \| Engine Food ICQ# 266-942-896

10-30-2014, 11:22 AM	#8
lezinterracial Confirmed User Industry Role: Join Date: Jul 2012 Posts: 3,087	Could be fracking. Could be Saudi's pumping more oil to punish ISIS and Russia. Could be big money pulling their money out of oil due to QE ending soon and rumors of higher interest rates. __________________ Live Sex Shows

10-30-2014, 10:48 AM	#4
slapass Too lazy to set a custom title Join Date: Nov 2002 Location: Earth Posts: 14,625	Fracking.

10-30-2014, 10:50 AM	#5
Fat Panda Porn is Dead. Move along. Industry Role: Join Date: Aug 2006 Posts: 13,295	under obama us oil + gas production is at record levels he pushed a secret button upon entering the oval office in 2008

10-30-2014, 11:22 AM	#10
dyna mo The People's Post Industry Role: Join Date: Dec 2008 Location: invisible 7-11 Posts: 65,789	there is no correlation between global oil supply/demand and USA midterm elections. or any elections for that matter.

10-30-2014, 11:23 AM	#11
MaDalton I am Amazing Content! Industry Role: Join Date: Feb 2004 Posts: 39,829	it was Obamas fault when they went up - now what? __________________ AmazingContent.com - providing only the best content and service since 2003 Monetize your content on Veegaz.com - one of Germanies largest VOD sites Got German traffic? We convert it into money for you! Skype: madalton02826 - Email: oltecconsult [at] gmail [dot] com

10-30-2014, 11:25 AM	#12
dyna mo The People's Post Industry Role: Join Date: Dec 2008 Location: invisible 7-11 Posts: 65,789	from my understanding- right now supply exceeds demand primarily because USA is producing shit tons more than ever due to fracking while Asia is needing/buying less oil. Saudi Arabia (opec leader) is likely letting the prices fall due to being able to afford to in order to damage their competition- iran, isis, russia.

10-30-2014, 11:36 AM	#14
aka123 Confirmed User Industry Role: Join Date: Jul 2014 Location: 64 00 N, 26 00 E Posts: 4,450	Recession!!

10-30-2014, 11:38 AM	#15
PAR Confirmed User Industry Role: Join Date: May 2005 Posts: 1,835	Opec's member countries have embarked on an oil price war to preserve market share... If prices stay at $85, we will see a lot of investment, a lot of oil, going out of the market," he told the conference. "About 65pc of the producers, they have high costs. Not Opec http://www.telegraph.co.uk/finance/o...oil-price.html

10-30-2014, 11:41 AM	#16
seeandsee Check SIG! Industry Role: Join Date: Mar 2006 Location: Europe (Skype: gojkoas) Posts: 50,945	god knows gas price in my country will go up __________________ BUY MY SIG - 50$/Year Contact here

10-30-2014, 11:58 AM	#22
2MuchMark Videochat Solutions Industry Role: Join Date: Aug 2004 Location: Canada Posts: 49,423	Here you go: The demand for oil is dropping, and because we are having a warmer fall than predicted, and, because it is expected to be a warmer than usual winter. Lower demand = lower prices. There is also too much oil & energy right now. I forget when this happened (last spring?), but the US now exports more than it imports. On a side note, republicans used to blame Obama for high gas prices. Now that gas prices are low and still dropping, does he get the credit? No of course not. Energy prices are based on supply, demand, and speculation. http://www.eia.gov/finance/markets/ __________________ Custom Coding \| Videochat Solutions \| Age Verification \| IT Help & Support www.2Much.net Last edited by 2MuchMark; 10-30-2014 at 11:59 AM..

10-30-2014, 12:00 PM	#23
12clicks Too lazy to set a custom title Industry Role: Join Date: Jan 2001 Location: God's right hand Posts: 19,789	in my opinion, opec is manipulating price and not cutting supply to bankrupt the frackers. fracking is only profitable above $70 a barrel or so. Drive the price below that for a year, bye bye fracking competition. Do it several times over the next decade, and you'll never have people even trying to frack. but what do I know.

10-30-2014, 12:15 PM	#27
GAMEFINEST Make STACK$ Industry Role: Join Date: Nov 2006 Location: sexy time Posts: 14,439	It is supposed to go up next year __________________ Compound interest.

10-30-2014, 12:25 PM	#28
Barry-xlovecam It's 42 Industry Role: Join Date: Jun 2010 Location: Global Posts: 18,083	Because of global warming we need less heating oil and the oil supply not being refined into heating oil is causing a supply glut of motor vehicle fuels to be refined. There is more supply than demand for motor vehicle fuels because of the new Chevy Volt Lose-Win Mark LOL

10-30-2014, 12:43 PM	#31
dyna mo The People's Post Industry Role: Join Date: Dec 2008 Location: invisible 7-11 Posts: 65,789	risky bidness, letting prices drop to crush the competition!

10-30-2014, 12:45 PM	#33
shake frc Industry Role: Join Date: Jul 2003 Location: Bitcoin wallet Posts: 4,663	Supply and Demand... More supply thanks partly to North american production Demand is still lower as the global economy still is lagging. __________________ Crazy fast VPS for $10 a month. Try with $20 free credit

10-30-2014, 12:52 PM	#34
Relentless www.EngineFood.com Industry Role: Join Date: Aug 2006 Posts: 5,697	In other news, the price of Cocaine is very high because "supply" is down according to drug dealers... and we all know the actual supply of any commodity is always identical to the real available amount of something. Nobody would ever pretend to have less of something or more of something to artificially dictate price. Nobody... especially not the Good Samaritans who run the oil business. __________________ Website Secure \| Engine Food ICQ# 266-942-896

10-30-2014, 01:05 PM	#39
Relentless www.EngineFood.com Industry Role: Join Date: Aug 2006 Posts: 5,697	Yes, I looked at the statistics and posted them. You looked at his opinion about the statistics. One is a set of a facts, the other is his personal point of view about those facts. Can you determine which is which? I fully agree politicians do not change gas prices.... I never said they did. The tools available to them would be far too easy for outsiders to notice. What I said, is that the Energy sector changes gas prices to suit their political interests by keeping incumbents in office rather than having to buy new ones or risk a rare independent voice getting elected. That remains... true. Price is dictated by 'whatever they say supply is' and 'whatever they claim demand is' with a lapdog Congress overseeing it. They like their lapdogs and know how to keep them on their laps. __________________ Website Secure \| Engine Food ICQ# 266-942-896 Last edited by Relentless; 10-30-2014 at 01:09 PM..

10-30-2014, 01:08 PM	#41
brassmonkey Pay It Forward Industry Role: Join Date: Sep 2005 Location: Yo Mama House Posts: 77,246	filling up demand i think __________________ TRUMP 2025 KEKAW!!! - The Laken Riley Act Is Law! DACA ENDED - SUPPORT AZ HCR 2060 52R - email: brassballz-at-techie.com

10-30-2014, 01:26 PM	#46
dyna mo The People's Post Industry Role: Join Date: Dec 2008 Location: invisible 7-11 Posts: 65,789

10-30-2014, 01:27 PM	#47
NaughtyRob Two fresh affiliate progs Industry Role: Join Date: Nov 2004 Location: Inside teen pussy Posts: 29,602	fall/winter they go low.... spring/summer they go high. Every year like clockwork. __________________ [email protected] Skype: 17026955414 Vacares Web Hosting - Protect Your Ass with Included Daily Backups

10-30-2014, 01:41 PM	#49
dyna mo The People's Post Industry Role: Join Date: Dec 2008 Location: invisible 7-11 Posts: 65,789	a study by Yale economist Ray Fair shows that dating back to 1948, there is little correlation between election results and gas prices. Take 1992. Gas prices were at their lowest levels in decades. The economy was pulling out of a recession. And the president had just won a war in convincing fashion. What happened next? Voters gave President George H.W. Bush the boot. Fast forward to 2004. The economy was again pulling out of a recession ? but gas prices were at their highest levels in decades. What happened next? President George W. Bush was re-elected. on to 2012, gas prices climbed dramatically in the months before Obama was elected.

10-30-2014, 01:43 PM	#50
Rochard Jägermeister Test Pilot Industry Role: Join Date: Dec 2001 Location: NORCAL Posts: 74,240	The United States is now the world's largest oil producer.... We are relying less and less on other countries for our oil needs. One of the biggest markets for oil is buying less oil from foreign governments, leaving the rest to scramble for what is left over. And they are in a price war. I never understood why the price of oil is controlled by OPEC. __________________ “The choice is no longer between right or left. The choice is between normal and crazy.” - Sarah Huckabee Sanders YNOT MAIL \| THE BEST ADULT MAILING SOLUTION