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/me goes to look at the graph again.
Huh? You think that supports YOUR position?
US demand increasing, US supply decreasing... imports increasing...
See a trend?
-Arrian
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/me goes to look at the graph again.
Huh? You think that supports YOUR position?
US demand increasing, US supply decreasing... imports increasing...
See a trend?
-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. -
Arrian: Imports have increased pretty steadily since 85. Nothing in the last couple of years out of the ordinary. I do see a trend, a 20 year trend. Not a 2 year trend."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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Actually global supply drives the long-term trend.Originally posted by Spiffor
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 drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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Inflation-adjusted gas prices... still googling...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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Supply and Demand. They both matter. Jeez, this isn't rocket science here, fellas.
-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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Ummm....without stepping on too many toes by stating the obvious...it's the interaction between global supply and demand that determines the price, and thus, drives the trend we're seeing.
So you're both half right.
-=Vel=-Comment
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cross posted with Arrian.
-=Vel=-Comment
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Hey, I have a question. Since I don't have an economics degree, what happens when supply increases along the same line as demand? Wouldn't prices hold?
From everything I'm seeing, production has risen over the years along the same lines as demand."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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That would be true if the cost of production remained constant.
As I understand it, increased oil production has taken place (at least in part) b/c higher prices (driven up by higher demand) made developing certain oil fields economically viable (whereas at lower prices it's not worth it, b/c the cost of production is too high).
-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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Originally posted by Flubber
Have you found many people that share your perceptions?
Yeah, my professors, my textbooks etc...
I don't look here to see how many people share my same perceptions. When that has happened I know I've taken a wrong turn somewhere.
A competitive firm is a firm that doesn't have a lot of competition. The're able to raise their prices and make good margins. In economics a competitive firm is one that has a lot of competition.
The refining companies are competitive firms in the business definition of the term. That means they don't have to worry about competition as much as noncompetitive firms do. That's why their prices and margins are high.
Now if your perceptions are causing you problems with seeing that clearly then you have some problems, because that's just not right.I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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No, just supply.Originally posted by Arrian
Supply and Demand. They both matter. Jeez, this isn't rocket science here, fellas.
-ArrianI drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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Huh? If there was no demand, the price would be zero.
-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, advances in tech have greatly increased efficieny. Granted that more expensive extraction is taking place (ie Oil Sands), but technology has helped finding it and getting it out of the ground the traditional way much more cost effective. Not to mention increased refining efficiency."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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Are we no longer talking about hypotheticals, Kaak? If so, then we need to actually find stats on global supply vs. global demand. If both have increased at the same rate, then it would make sense to look to cost of production (this includes the point you raise about increasing efficiency).
-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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So would the cost.Originally posted by Arrian
Huh? If there was no demand, the price would be zero.
-ArrianI drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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