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Okay this is what I don't get. You guys keep berating me about economics, etc, etc. But the huge spikes in oil prices have been OVER FEARS OF DISRUPTIONS. Do you not read the news? I'm sure increased global demand affects the price, the it is the fear of supply disruption that has caused Futures prices to soar, causing present prices to soar.
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"Mal nommer les choses, c'est accroître le malheur du monde" - Camus (thanks Davout)
"I thought you must be dead ..." he said simply. "So did I for a while," said Ford, "and then I decided I was a lemon for a couple of weeks. A kept myself amused all that time jumping in and out of a gin and tonic." -
The point is that KH was busted talking out of his ass.
US gas demand does not equal US oil demand12-17-10 Mohamed Bouazizi NEVER FORGET
Stadtluft Macht Frei
Killing it is the new killing it
Ultima Ratio RegumComment
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In this regard, I find this thread purely amazingOriginally posted by Imran Siddiqui
Kaak couldn't simply stand aside as Kidicious was taking the beating that he, until now, had been! It was the jealously that he wasn't the one being PWNED!
"I have been reading up on the universe and have come to the conclusion that the universe is a good thing." -- Dissident
"I never had the need to have a boner." -- Dissident
"I have never cut off my penis when I was upset over a girl." -- DisComment
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Ok. And this is the fault of evil oil company executives how?Originally posted by Kaak
Okay this is what I don't get. You guys keep berating me about economics, etc, etc. But the huge spikes in oil prices have been OVER FEARS OF DISRUPTIONS. Do you not read the news? I'm sure increased global demand affects the price, the it is the fear of supply disruption that has caused Futures prices to soar, causing present prices to soar.
By the way, fears of disruption of.... SUPPLY. Sure, it's not as concrete as saying that actual barrels pumped dropped by X amount, but it's the same basic equation. If people think supply will drop (and demand stays the same, increases, or even drops but not as much), prices are due to rise.
-Arriangrog want tank...Grog Want Tank... GROG WANT TANK!
The trick isn't to break some eggs to make an omelette, it's convincing the eggs to break themselves in order to aspire to omelettehood.Comment
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"cherry picking statistics" Is a little different than GASOLINE DEMAND, WHICH IS WHAT IT ALL OF THIS IS ABOUT. Nice try though
By the way, you know if KH could have found a graph, he would have posted it, instead of just calling me daft ."Mal nommer les choses, c'est accroître le malheur du monde" - Camus (thanks Davout)
"I thought you must be dead ..." he said simply. "So did I for a while," said Ford, "and then I decided I was a lemon for a couple of weeks. A kept myself amused all that time jumping in and out of a gin and tonic."Comment
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Gasoline is MADE FROM OIL. You cannot consider the price of gasoline without considering the price of oil. HOLY ****ING **** BATMAN!!
-Arriangrog want tank...Grog Want Tank... GROG WANT TANK!
The trick isn't to break some eggs to make an omelette, it's convincing the eggs to break themselves in order to aspire to omelettehood.Comment
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Arrian, that was an argument out of the last thread. If prices rise because of supply fears, but supply is never affected, the oil companies make more money. It isn't completely illogical to wonder where all of these "fears" are coming from.
Also, I'm glad you agree with me about the futures thing. That is what KH's sig link refers to. He is making fun of me because he apparently doesn't understand how futures work and can affect current prices."Mal nommer les choses, c'est accroître le malheur du monde" - Camus (thanks Davout)
"I thought you must be dead ..." he said simply. "So did I for a while," said Ford, "and then I decided I was a lemon for a couple of weeks. A kept myself amused all that time jumping in and out of a gin and tonic."Comment
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Spikes in oil prices have been due to fears or to specific political events Gulf Wars, Oil shocks in the 70'es). This kind of events lead to an increased short-term demand, which raises the price in a fashion similar to a speculation spree on the stock market.Originally posted by Kaak
Okay this is what I don't get. You guys keep berating me about economics, etc, etc. But the huge spikes in oil prices have been OVER FEARS OF DISRUPTIONS. Do you not read the news? I'm sure increased global demand affects the price, the it is the fear of supply disruption that has caused Futures prices to soar, causing present prices to soar.
However, the global demand drives the long-term trend as the reason why price continually increases. In the current juncture, where Asia is rapidly developing, you won't see oil prices drop to a pre-crisis price, once the crisis dissipates (at least not on the long run).
Spikes are short-term exaggerations of a long-term tendancy."I have been reading up on the universe and have come to the conclusion that the universe is a good thing." -- Dissident
"I never had the need to have a boner." -- Dissident
"I have never cut off my penis when I was upset over a girl." -- DisComment
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Heh, commies and capitalists unite against willful ignorance! Huzzah!
-Arriangrog want tank...Grog Want Tank... GROG WANT TANK!
The trick isn't to break some eggs to make an omelette, it's convincing the eggs to break themselves in order to aspire to omelettehood.Comment
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I understand much more about the futures market than you do, son.Originally posted by Kaak
Also, I'm glad you agree with me about the futures thing. That is what KH's sig link refers to. He is making fun of me because he apparently doesn't understand how futures work and can affect current prices.
12-17-10 Mohamed Bouazizi NEVER FORGET
Stadtluft Macht Frei
Killing it is the new killing it
Ultima Ratio RegumComment
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Spiff...*sigh* I'm not disagreeing with you there. but over the last couple of years, the major spikes have been over fears. The funny thing is that prices never seem to return to pre-spike levels."Mal nommer les choses, c'est accroître le malheur du monde" - Camus (thanks Davout)
"I thought you must be dead ..." he said simply. "So did I for a while," said Ford, "and then I decided I was a lemon for a couple of weeks. A kept myself amused all that time jumping in and out of a gin and tonic."Comment
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clearly.Originally posted by KrazyHorse
I understand much more about the futures market than you do, son."Mal nommer les choses, c'est accroître le malheur du monde" - Camus (thanks Davout)
"I thought you must be dead ..." he said simply. "So did I for a while," said Ford, "and then I decided I was a lemon for a couple of weeks. A kept myself amused all that time jumping in and out of a gin and tonic."Comment
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I googled US oil demand... got this. Cuts of in '04, though.
grog want tank...Grog Want Tank... GROG WANT TANK!
The trick isn't to break some eggs to make an omelette, it's convincing the eggs to break themselves in order to aspire to omelettehood.Comment
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Thanks Arrian, that definately doesn't show a significant increase.
in all fairness, i saw that before I started accusing KH of talking out of his ass. And I still think it supports that."Mal nommer les choses, c'est accroître le malheur du monde" - Camus (thanks Davout)
"I thought you must be dead ..." he said simply. "So did I for a while," said Ford, "and then I decided I was a lemon for a couple of weeks. A kept myself amused all that time jumping in and out of a gin and tonic."Comment
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Originally posted by Kaak
Spiff...*sigh* I'm not disagreeing with you there. but over the last couple of years, the major spikes have been over fears. The funny thing is that prices never seem to return to pre-spike levels.
The price that hit $2.50-ish/gal after Katrina DID drop to around $2.00/gal in Dec/Jan of this year. Where in the Hell is this "prices never seem to return to pre-spike levels" coming from?“I give you a new commandment, that you love one another. Just as I have loved you, you also should love one another. By this everyone will know that you are my disciples, if you have love for one another.”
- John 13:34-35 (NRSV)Comment
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