chomerics Posted September 4, 2006 Share Posted September 4, 2006 With the democrats looking to take the House in the November's elections and win Senate seats, gas prices have dropped almost $0.40 in the past few weeks. The only news of significance was the oil pipline in Alaska being shut down which lowered out home grown output by 6% I believe. Which, of course should have shrunk supply and increased the pries even further. Future prices of oil are below $70, but just barely at $69. The price increased to I believe %$74 at its highest, but was around $70 for much of the past year. This should have had a minimal effect, but not a $0.40 decrease in price. . . Which leads me to the following question. How much money were the oil companies porking the US citizen? Do they think that lowering the prices before the election will help the Republicans keep control of Congress, and thus insure another 2 years of record profits and no investigations? What does everyone think? Link to comment Share on other sites More sharing options...
PleaseBlitz Posted September 4, 2006 Share Posted September 4, 2006 The crude prices began its decline Friday after the United Nations failed to impose sanctions on Iran for refusing to stop its nuclear enrichment program, ending speculation of a squeeze that was already factoring into pricing. Also easing energy prices were strong inventory data, a promising forecast for this year's hurricane season (meaning, less storms) and a mixed U.S. jobs report --> suggesting fuel demand probably won't surge sharply during the long weekend we just had. /answering work questions on a holiday. Edit: The political angle probably didnt hurt either, but its hard to quanitfy. :2cents: Link to comment Share on other sites More sharing options...
Midnight Judges Posted September 4, 2006 Share Posted September 4, 2006 and people say the Bush administration didn't accomplish anything in it's second term. Link to comment Share on other sites More sharing options...
twa Posted September 4, 2006 Share Posted September 4, 2006 Look at historical trends , that combined with what PB mentioned and the artificial high that traders maintained thru speculation. Oh ,and the buildup in reserves might have helped. It is kind of like the economy, you can only deny the obvious for so long. Link to comment Share on other sites More sharing options...
ChiefBigMeat Posted September 4, 2006 Share Posted September 4, 2006 There is one undeniable truth about oil right now: The Saudis set the price. Since the Repubs and the open Saudi allies the Bush's have been in power, they have been making more money than ever ($243 Billion in added revenue to their coffers in 2005 alone - just from the U.S.) that's extra profit (net) The Saudis aren't stupid ... they know where their bread gets buttered. Gas prices have been shooting straight up at record profits for years and the first drop just so happens to come right before a crucial mid-term election? :jerk: Heh, that's not even the bad news ... the reality of gas prices: IT's a TAX!!! yes, that's right ... it's a way to tax the regualr working-class Americans to pay for Bush's tax cuts for the wealthy. 1. We pay $Billions extra at the pump, which goes to the Saudis. 2. The Saudis use that money to buy U.S. T-Bills (financing the $5.6 TRillian of debt Bush is accruing) The worst part: not only are we being taxed to the hilt ... we are going to be paying trillians more in effin' INTEREST payments on tax money we already payed! Yeah, just when you think it can't get any worse ... Link to comment Share on other sites More sharing options...
Cdowwe Posted September 4, 2006 Share Posted September 4, 2006 Doesnt oil usually go down towards the end of summer? Cant remember last summer, way too long ago Link to comment Share on other sites More sharing options...
twenty-eight Posted September 4, 2006 Share Posted September 4, 2006 I think we all need to thank little BABY JESUS!! Link to comment Share on other sites More sharing options...
Joe Sick Posted September 4, 2006 Share Posted September 4, 2006 The same reason that drove gas prices up...we have no idea. It's all speculation and all we can do is bend over and take it. The oil companies are moving on to shafting us over heating oil and propane prices. It seems it's that time of year... Link to comment Share on other sites More sharing options...
ChiefBigMeat Posted September 4, 2006 Share Posted September 4, 2006 Doesnt oil usually go down towards the end of summer? Cant remember last summer, way too long ago This time last year: Hurricane Katrina slows pipe-line ... highest prices I've ever seen There was a lawsuit contending the Oil companies participated in price gouging ... it went away -- the $3 a gallon prices stayed Link to comment Share on other sites More sharing options...
PleaseBlitz Posted September 4, 2006 Share Posted September 4, 2006 Doesnt oil usually go down towards the end of summer? Cant remember last summer, way too long ago Yes. Less people are traveling to the beach every weekend, so demand and therefore price fall. The key was the hurricane forecast. Katrina and the other big one whose name i forget really effected the price. Oh, and the President is evil. Link to comment Share on other sites More sharing options...
PleaseBlitz Posted September 4, 2006 Share Posted September 4, 2006 There is one undeniable truth about oil right now: The Saudis set the price. Since the Repubs and the open Saudi allies the Bush's have been in power, they have been making more money than ever ($243 Billion in added revenue to their coffers in 2005 alone - just from the U.S.) that's extra profit (net)The Saudis aren't stupid ... they know where their bread gets buttered. Gas prices have been shooting straight up at record profits for years and the first drop just so happens to come right before a crucial mid-term election? :jerk: Heh, that's not even the bad news ... the reality of gas prices: IT's a TAX!!! yes, that's right ... it's a way to tax the regualr working-class Americans to pay for Bush's tax cuts for the wealthy. 1. We pay $Billions extra at the pump, which goes to the Saudis. 2. The Saudis use that money to buy U.S. T-Bills (financing the $5.6 TRillian of debt Bush is accruing) The worst part: not only are we being taxed to the hilt ... we are going to be paying trillians more in effin' INTEREST payments on tax money we already payed! Yeah, just when you think it can't get any worse ... So what did Bush and his minions do to taxes over the past week and a half? Im confused now. The Saudis set the price, but "in reality" ITS A TAX!!!!????? Please explain, my feeble mind cannot keep up. Link to comment Share on other sites More sharing options...
PokerPacker Posted September 4, 2006 Share Posted September 4, 2006 So what did Bush and his minions do to taxes over the past week and a half?Im confused now. The Saudis set the price, but "in reality" ITS A TAX!!!!????? Please explain, my feeble mind cannot keep up. its a conspiracy perpetrated by The Man to keep the middle class man down. :cool: Link to comment Share on other sites More sharing options...
twa Posted September 4, 2006 Share Posted September 4, 2006 ChiefBigMeat Since we only get a small fraction of our oil from the ME, wouldn't that mean we are taxing the rest of the world thru the Sauds...according to your theory? You want to stabilze prices? Increase production capabilities we can control...untill then, bend over :2cents: Link to comment Share on other sites More sharing options...
ChiefBigMeat Posted September 4, 2006 Share Posted September 4, 2006 So what did Bush and his minions do to taxes over the past week and a half?Im confused now. The Saudis set the price, but "in reality" ITS A TAX!!!!????? Please explain, my feeble mind cannot keep up. Yes, the real tax cuts have caused us to run MASSIVE deficits ... the national debt has gone $4 trillion in the hole after a projected $5.6 trillion SURPLUS by 2010 - calculated in 2000. Where does that money come from? T-Bills -- aka treasury bonds Who is buying T-Bills? Saudi's are, with the extra money we pay at the pump -- therefore, it's OUR money that the government is borrowing to run on ... only we are making interest payments to the Saudis on it. It's like a tax, only much much worse. Link to comment Share on other sites More sharing options...
ChiefBigMeat Posted September 4, 2006 Share Posted September 4, 2006 ChiefBigMeatSince we only get a small fraction of our oil from the ME, wouldn't that mean we are taxing the rest of the world thru the Sauds...according to your theory? You want to stabilze prices? Increase production capabilities we can control...untill then, bend over :2cents: The Saudi's pump more than 9 million barrels a day, buy far the largest oil producer ... they control OPEC, they set the amounts other countries are allowed to produce ... they set the price for the whole world, and naturally, they want it as high as possible. If you owned an oil rig in Texas, Louisiana, wherever -- how would you feel about the world's most powerful producer doing whatever it takes to up the price? Would you uhhh -- pump as much as you can to stabilize the price, bring it down? No way ... You have a limited amount of oil in the hole you own .. you want to squeeze as much profit as possible out of what reserves you have -- Therefore, you LIKE what the Saudis are doing. You invite them to America and ride around in golf carts with them. Link to comment Share on other sites More sharing options...
Enter Apotheosis Posted September 4, 2006 Share Posted September 4, 2006 its a conspiracy perpetrated by The Man to keep the middle class man down. :cool: Damn The Man! Hold strong, my brothas! :kungfu: Link to comment Share on other sites More sharing options...
twa Posted September 4, 2006 Share Posted September 4, 2006 The Saudi's pump more than 9 million barrels a day, buy far the largest oil producer ... they control OPEC, they set the amounts other countries are allowed to produce ... they set the price for the whole world, and naturally, they want it as high as possible.If you owned an oil rig in Texas, Louisiana, wherever -- how would you feel about the world's most powerful producer doing whatever it takes to up the price? Would you uhhh -- pump as much as you can to stabilize the price, bring it down? No way ... You have a limited amount of oil in the hole you own .. you want to squeeze as much profit as possible out of what reserves you have -- Therefore, you LIKE what the Saudis are doing. You invite them to America and ride around in golf carts with them. Then why have the Sauds increased production? Why have oil companies pushed for opening more domestic exploration? Why do Americans oppose it? Ya'll want cheap oil and are not willing to pay the price for it :2cents: Link to comment Share on other sites More sharing options...
ChiefBigMeat Posted September 4, 2006 Share Posted September 4, 2006 Then why have the Sauds increased production? Why have oil companies pushed for opening more domestic exploration? Why do Americans oppose it? Ya'll want cheap oil and are not willing to pay the price for it :2cents: The game isn't getting more oil out of the ground -- it's finding it and taking control of it to make sure it stays in the ground. It's all a game. The only goal of oil companies is to make as much profit as possible, which = doing what it takes to make the price per barrel as high as possible for as long as possible. Seriously, if you can give me a good reason why an oil company would want to dump a wad of product on the market, let me know--I've tried and I can't think of one. --edit Well, there are reasons to do it short-term, like say ... to influence American elections (which got this thread going in the first place) Link to comment Share on other sites More sharing options...
twa Posted September 4, 2006 Share Posted September 4, 2006 The game isn't getting more oil out of the ground -- it's finding it and taking control of it to make sure it stays in the ground.It's all a game. The only goal of oil companies is to make as much profit as possible, which = doing what it takes to make the price per barrel as high as possible for as long as possible. Seriously, if you can give me a good reason why an oil company would want to dump a wad of product on the market, let me know--I've tried and I can't think of one. --edit Well, there are reasons to do it short-term, like say ... to influence American elections (which got this thread going in the first place) I can tell you the reason the Sauds try to keep the price within reason IF it stays too high,other alternatives become not just feasible,but cost effective which would make oil companies and the ME unimportant. They are playing all of us...so what you gonna do? Link to comment Share on other sites More sharing options...
Ax Posted September 4, 2006 Share Posted September 4, 2006 It's all a plot by the Republicans, lead by the Evil Darth Bush, to destroy all the poor Democrats. Whose only desire in life is to lift all of mankind, together as one, into the peaceful loving creatures that originally roamed the Earth before Republicans stopped slithering around on their bellies, grew legs, and began to stomp every other living thing on the planet into submission. Link to comment Share on other sites More sharing options...
twa Posted September 4, 2006 Share Posted September 4, 2006 It's all a plot by the Republicans, lead by the Evil Darth Bush, to destroy all the poor Democrats. Whose only desire in life is to lift all of mankind, together as one, into the peaceful loving creatures that originally roamed the Earth before Republicans stopped slithering around on their bellies, grew legs, and began to stomp every other living thing on the planet into submission. :laugh: I knew there was a simple explanation. :notworthy Link to comment Share on other sites More sharing options...
PokerPacker Posted September 4, 2006 Share Posted September 4, 2006 It's all a plot by the Republicans, lead by the Evil Darth Bush, to destroy all the poor Democrats. Whose only desire in life is to lift all of mankind, together as one, into the peaceful loving creatures that originally roamed the Earth before Republicans stopped slithering around on their bellies, grew legs, and began to stomp every other living thing on the planet into submission. i thought bush would be the emperor, and cheney would be the one hooked up to the repirator. :2cents: Link to comment Share on other sites More sharing options...
ChiefBigMeat Posted September 4, 2006 Share Posted September 4, 2006 It's all a plot by the Republicans, lead by the Evil Darth Bush, to destroy all the poor Democrats. Whose only desire in life is to lift all of mankind, together as one, into the peaceful loving creatures that originally roamed the Earth before Republicans stopped slithering around on their bellies, grew legs, and began to stomp every other living thing on the planet into submission. I sense sarcasm ... Does that mean you agree with borrowing our money back from the Saudis to cover the cost of tax breaks and the war? That is what is really happening ... you can check for yourself. Now, if YOU classify that as wrong and evil, maybe you should reevaluate your opinion of this administration. Link to comment Share on other sites More sharing options...
Ax Posted September 4, 2006 Share Posted September 4, 2006 I sense sarcasm ... Does that mean you agree with borrowing our money back from the Saudis to cover the cost of tax breaks and the war? That is what is really happening ... you can check for yourself. Now, if YOU classify that as wrong and evil, maybe you should reevaluate your opinion of this administration. "I still don't get it Big Dan." Link to comment Share on other sites More sharing options...
ChiefBigMeat Posted September 4, 2006 Share Posted September 4, 2006 "I still don't get it Big Dan." tax breaks + war = Federal government operates at a loss Amount of that loss = money borrowed extra money paid at the gas pump = windfall profits = money to invest in U.S. T-bills = money borrowed For tax breaks and war, etc. you pay: Increased money at the pump + interest on that money The biggest stumbling block to understanding how it works is overcoming the disbelief that our government would actually do something this stupid. Link to comment Share on other sites More sharing options...
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