Gas prices up $1 a gallon just this spring

[grampi]

Originally Posted By: whip
Originally Posted By: grampi
Our roads don't wear out due to POVs, it's the semis that destroy our roads...

I live on a residential road with zero semi traffic, and it still needs repairs.

Why do so many people fell they're entitled to cheap gas? I never hear people make claims about what the price of beer, homes, or cars should be, but a lot of people make the statement about gas.


Repave two roads at the same time. One sees nothing but POV traffic, the other has both POV and semi traffic...see which one needs repairs sooner...I think you'll find the road with no semi traffic will last infinitely longer...

Why do people feel it's okay for the industry to charge whatever they want when there are no other viable alternatives to gas/diesel? What do you think would happen to our society if gas all of a sudden became too expensive for everyone except for the ultra rich? That's right, our entire economy would tank. THAT'S why I don't think the oil industry should be allowed to jack consumers around with their stupid greed games...

 

[doitmyself]

Originally Posted By: grampi
Why do people feel it's okay for the industry to charge whatever they want when there are no other viable alternatives to gas/diesel?


40 years after the mid-1970's oil embargo and your statement of "no viable alternatives" saddens me. With the current low prices, research on viable alternatives has plummeted. Our memories are so short.

 

[Garak]

I don't think it would be easy to get rid of speculation on gasoline. It is a commodity, after all. With respect to stockrex's comment on speculation on mother's milk, well, cow's milk up here is subject to supply management, which isn't any better for the consumer.

 

[Al]

Originally Posted By: grampi
Originally Posted By: stockrex
Originally Posted By: Al
Originally Posted By: daves87rs


You mean before wall street got involved?

Gasoline has been traded as a commodity since 1984. You have the power to stabilize your cost by buying a gasoline ETF instead of complaining.


Al, I will pass that on to the guys who at work at the gas station at $8.24/hr.

;-)

1/3 of the price of gasoline is due to "speculation".
what is next for walled street, trade mother's milk?


I've been saying all along that if speculation was removed from the pricing process, prices would drop and would stay lower...

You guys couldn't be more wrong. Educate yourself on Futures, Commodities, and Spot markets.

 

[grampi]

Originally Posted By: Al
You guys couldn't be more wrong. Educate yourself on Futures, Commodities, and Spot markets.


It's a known fact that speculation creates higher prices...it can also cause lower prices, but most of the time it causes them to be higher...

 

[grampi]

Originally Posted By: Garak
I don't think it would be easy to get rid of speculation on gasoline. It is a commodity, after all. With respect to stockrex's comment on speculation on mother's milk, well, cow's milk up here is subject to supply management, which isn't any better for the consumer.

Now that crude is traded in global markets, it would be nearly impossible to get rid of speculation...crude oil should never have been put into the commodities market to begin with...

 

[eljefino]

Speculation pretty much got you your glut of cheap fuel last winter. A bunch of guys guessed wrong, tripped, and lost their shirts.

Since you hate, hate, hate gas prices that would have been your cue to buy. Either barrels of the stuff in your basement or paper on wall street.

 

[GiveMeAVowel]

Originally Posted By: grampi

It's a known fact that speculation creates higher prices...it can also cause lower prices, but most of the time it causes them to be higher...


Exactly, sure it can go to the extreme the other way with outrageously low prices, but why bother, why not just generally lower prices all the time as opposed to extremes all so some leeches can buy the yearly Porsche.

 

[grampi]

Originally Posted By: eljefino
Speculation pretty much got you your glut of cheap fuel last winter. A bunch of guys guessed wrong, tripped, and lost their shirts.

Since you hate, hate, hate gas prices that would have been your cue to buy. Either barrels of the stuff in your basement or paper on wall street.


Speculation had nothing to do with the dirt cheap prices were seeing last winter...the industry did that to themselves by flooding the market with supply...

 

[grampi]

Originally Posted By: GiveMeAVowel
Originally Posted By: grampi

It's a known fact that speculation creates higher prices...it can also cause lower prices, but most of the time it causes them to be higher...


Exactly, sure it can go to the extreme the other way with outrageously low prices, but why bother, why not just generally lower prices all the time as opposed to extremes all so some leeches can buy the yearly Porsche.


Because without the huge price swings, speculators can't make any money...

 

[Al]

Originally Posted By: grampi


Because without the huge price swings, speculators can't make any money...

Wrong again

http://www.investopedia.com/terms/t/timedecay.asp

 

[grampi]

Originally Posted By: Al
Originally Posted By: grampi


Because without the huge price swings, speculators can't make any money...

Wrong again

http://www.investopedia.com/terms/t/timedecay.asp


What does this have to do with speculation in the oil industry?

 

[Al]

Originally Posted By: grampi
Originally Posted By: Al
Originally Posted By: grampi


Because without the huge price swings, speculators can't make any money...

Wrong again

http://www.investopedia.com/terms/t/timedecay.asp


What does this have to do with speculation in the oil industry?

You said huge price swings were necessary for the speculator to make money. Your point was that speculators make the price swings so that they can make money. Maybe you lost your train of thought.

 

[grampi]

Originally Posted By: Al
Originally Posted By: grampi
Originally Posted By: Al
Originally Posted By: grampi


Because without the huge price swings, speculators can't make any money...

Wrong again

http://www.investopedia.com/terms/t/timedecay.asp


What does this have to do with speculation in the oil industry?

You said huge price swings were necessary for the speculator to make money. Your point was that speculators make the price swings so that they can make money. Maybe you lost your train of thought.


The bigger the price swing, the more money they make...it isn't rocket science...

 

[Al]

Originally Posted By: grampi


The bigger the price swing, the more money they make...it isn't rocket science...

If you know which way the price swing is gonna' go. If you think its not rocket science then you can be an automatic trillionaire.

Have you ever traded futures contracts??

 

[SteveSRT8]

Originally Posted By: Al
Have you ever traded futures contracts??


The answer should be obvious...

 

[jcwit]

And you folks here do not believe the oil & gas markets have not been manipulated?

Mayhap it's time for you all to show up on Waters World.

 

[Al]

Originally Posted By: jcwit
And you folks here do not believe the oil & gas markets have not been manipulated?

Mayhap it's time for you all to show up on Waters World.

Why don't you enlighten me on exactly how it occurred. No reputable investigation has ever found them to be. Now the Hunts manipulated the silver market many years ago but if you can show me manipulations on the oil and gas market..other than Saudi Arabia controlling supplies..I am all eyes and ears. But they are not able to do that anymore.

You maybe recall the gasoline gasoline crisis was greatly made worse by the U.S attempt to "Control the Price of Oil" by Price Controls.

If gasoline/oil were removed from the commodities markes all [censored] would break lose. People on this board would wonder who was dumb enough to remove oil and gas from the commodities markets. But it will never happen fortunately bc its a World market. China would be happy to buyall of our controlled price oil.

But to be clear..I no longer trade futures. Beople don't understand that for every $ made in a futures contract a $ is lost. No one who blabs about how evil it is would have the knowledge or backbone to do it.

Even if it were removed..larger companies would buy "insurance" to insure they could buy it at a stable price and immediately you would have a "Back Door" futures markets based on ETF insurances. It would be educational for those who think that the system is so evil to read up and study the market system...that's as likely to happen as a bear not pooping in the woods.

 

[grampi]

Originally Posted By: Al
Originally Posted By: grampi


The bigger the price swing, the more money they make...it isn't rocket science...

If you know which way the price swing is gonna' go. If you think its not rocket science then you can be an automatic trillionaire.

Have you ever traded futures contracts??


Who do you think makes it swing? They aren't called speculators because they're day traders...

 

[grampi]

If all [censored] would break loose if crude products were removed from the commodities market, then how did the industry survive, no thrive for almost 100 years BEFORE it was put on the commodities market? Your "theory" is full of holes...