Rising price of oil

[Penthesilea]

Sorry, left out one.

Make Wop $$ and don't give a shit?

[Gwynplaine]

Speculation is a secondary effect itself, it's not a primary cause. Speculation occurs because of outside facts about the situation.

I'm gonna say:
1: the middle east is in turmoil, and it's future is uncertain
2: demand keeps increasing as emerging nations modernize like China and India
3: not enough supply comes in to make up for all the demand
4: the dollars precarious situation and increasing inflation is pushing investment into hard assets

Nothing new.

[Kuya]

Speculation is a secondary effect itself, it's not a primary cause. Speculation occurs because of outside facts about the situation.

I'm gonna say:
1: the middle east is in turmoil, and it's future is uncertain
2: demand keeps increasing as emerging nations modernize like China and India
3: not enough supply comes in to make up for all the demand
4: the dollars precarious situation and increasing inflation is pushing investment into hard assets

Nothing new.

...

[*Shinzon*]

2. The other one is that the price of oil isn't rising because of a lack of supply but rather because of speculation. The comments and rumours that all the revolutions in the Middle East would cause a rise in price of oil has caused speculators to invest heavily in oil and therefore raising its price. Also given that oil is not or is barely regulated.

The Automotive industry believes in this reason. Even with Saudi Arabia starting to run out of oil (based on a wikileaks report) they believe companies are just taking advantage of the instability as an excuse to increase profit.

[Melchiah]

Quick and easy way to stop oil speculators from price-gouging? Produce legislation stating that if you buy oil, you must take delivery within 30 days of purchase. Oil speculators don't have any way of taking delivery of 1000 barrels of oil; they "buy" it on paper, but they never physically take possession of the product.

[Ashmada]

Sure you can, take public transportation or a bike or move close enough to your employment to walk.

Why be so pussy-footed about it? Let's just shoot on sight all those evil evil bastards driving cars.

(still bummed to discover in this thread you guys pay less than HALF our prices for oil. Fuck. Knew you'd pay less, but fucking HALF!)

[ronin sparthos]

Quick and easy way to stop oil speculators from price-gouging? Produce legislation stating that if you buy oil, you must take delivery within 30 days of purchase. Oil speculators don't have any way of taking delivery of 1000 barrels of oil; they "buy" it on paper, but they never physically take possession of the product.

Legislation that benefits the public? Do not Want.

[Melchiah]

Yeah, I know right. Can't have the good of the American people as a whole getting in the way of those profits now can we?

[Gwynplaine]

Quick and easy way to stop oil speculators from price-gouging? Produce legislation stating that if you buy oil, you must take delivery within 30 days of purchase. Oil speculators don't have any way of taking delivery of 1000 barrels of oil; they "buy" it on paper, but they never physically take possession of the product.

Speculation is not "price gouging". Speculation is a useful and helpful role in the stock markets for taking changing circumstances in the future and preparing the expected supply versus demand in the present to what is forecasted. The price of oil is rising even if you personally don't feel like you like it.

[ronin sparthos]

Yeah, I know right. Can't have the good of the American people as a whole getting in the way of those profits now can we?

Fuck the people, God says I have the right to make fistfuls of money.

[Melchiah]

You're fucking-a right I don't like it, because everyone's wages are going in the shitter while oil and groceries climb every day. Ripping off the American people because you can and they don't have an alternative is not in the spirit of what we were founded on.

[kuronosan]

No - making money and the freedom to do whatever you want is.

With all the freedoms we have, I've yet to see anyone express any responsibility in using it. These companies do this because of the principles we were founded on. They are free to do what they are doing, so they will continue to do it.

[tyven]

we need to be founded on the ideals of regulation. these nigs are trying to regulate everything else, why not add oil prices to it.

[Headspace]

we need to be founded on the ideals of regulation. these nigs are trying to regulate everything else, why not add oil prices to it.

because then who would pay our politicians?

[Gwynplaine]

we need to be founded on the ideals of regulation. these nigs are trying to regulate everything else, why not add oil prices to it.

Because they did that in the 70's and it caused widespread shortages.

[tyven]

the rest of corporate america. DUH

[tyven]

Because they did that in the 70's and it caused widespread shortages.

WELL EXCUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUS E ME

[Demosthenes11]

tired of people saying we need to drill for oil to help our own gas prices. The way things are, if the US started drilling, it would not even go to us. The oil would go to the world market, having very little effect on overall prices. A 5% increase in supply won't do shit.

[Jememy]

I got an invite on facebook about April 14th being "Don't buy gas day" but I believe resistance is futile.

[Headspace]

I got an invite on facebook about April 14th being "Don't buy gas day" but I believe resistance is futile.

I go several days without buying gas.

Seems to not do shit.