Price of Oil Falls 4% in a few hours ????
06-16-2012, 01:00 PM
#191
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The problem with today's economy is that disposable income is gone.This puts a sour taste in the average
worker's mouth.Pretty much everything gone up 10 times in the last 4 decades ,except the average salary!
Gas was about .47cents a gallon in 1972 , filled a shopping cart to the rim for $20 dollars,paid $120 renting a 1 bdr apartment in the heart of Vancouver with an ocean view and bought a brand new Challenger that was $120 a mount also.Made $1000 a month back then, could easily save up for a downpayment for a brand new [ not a fixer upper] house in the suburb that was around 15K .Looking at government statistics, the average yearly salary in Canada is around $40K .So, wages only gone up 4 times on average for the common folks.No wonder the US and Canada is on the verge of going bust with mortgages they cannot afford and paying an average of $400 a month on gas just to get to work.Can't stand listening to some idiots comparing gas prices in Europe to justify the increase of gas here saying it's cheap.Europe built an excellent mass transit system over a century ago, letting people use their vehicles on weekends only if they choose to do so.The distances they have to travel is much shorter in average also .Nothing is enjoyable driving in congested traffic, spending money on gas just getting to work and get taxed on that gas on top of it.I have a Dodge Viper that's a thirsty beast in city driving but don't complain about the gas consumption of the car, because it's a weekend toy, not a neccessity to use on the daily basis the majority is doing.We know that gas is cheap [ less than .30 cent a gallon]... in Venezuela because that commie Chavez nationalized the oil refineries so I don't go there but gas prices should be more realistic than it is now to allow the average folks to afford it. I'll be still boating or driving my pig of a car even if gas will cost $10 a gallon, albeit less frequently.
worker's mouth.Pretty much everything gone up 10 times in the last 4 decades ,except the average salary!
Gas was about .47cents a gallon in 1972 , filled a shopping cart to the rim for $20 dollars,paid $120 renting a 1 bdr apartment in the heart of Vancouver with an ocean view and bought a brand new Challenger that was $120 a mount also.Made $1000 a month back then, could easily save up for a downpayment for a brand new [ not a fixer upper] house in the suburb that was around 15K .Looking at government statistics, the average yearly salary in Canada is around $40K .So, wages only gone up 4 times on average for the common folks.No wonder the US and Canada is on the verge of going bust with mortgages they cannot afford and paying an average of $400 a month on gas just to get to work.Can't stand listening to some idiots comparing gas prices in Europe to justify the increase of gas here saying it's cheap.Europe built an excellent mass transit system over a century ago, letting people use their vehicles on weekends only if they choose to do so.The distances they have to travel is much shorter in average also .Nothing is enjoyable driving in congested traffic, spending money on gas just getting to work and get taxed on that gas on top of it.I have a Dodge Viper that's a thirsty beast in city driving but don't complain about the gas consumption of the car, because it's a weekend toy, not a neccessity to use on the daily basis the majority is doing.We know that gas is cheap [ less than .30 cent a gallon]... in Venezuela because that commie Chavez nationalized the oil refineries so I don't go there but gas prices should be more realistic than it is now to allow the average folks to afford it. I'll be still boating or driving my pig of a car even if gas will cost $10 a gallon, albeit less frequently.
Last edited by spectras only; 06-16-2012 at 01:05 PM.
06-21-2012, 02:52 PM
#192
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06-21-2012, 03:09 PM
#193
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Did you read this part?
LOL
Large US strategic petroleum reserves
A sluggish economy, and hence slow economic recovery has meant that there is low demand for oil. Many blame Obama's austerity measures for this.
A sluggish economy, and hence slow economic recovery has meant that there is low demand for oil. Many blame Obama's austerity measures for this.
06-21-2012, 10:20 PM
#194
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Well the price of oil has fallen tonight to a new low of about $78 dollars a barrel and that's almost a 50% drop in just over a month- Wow!
Can you spell Deflation ! Now that's really a scary thought !
Honestly this kind of precipitous drop cannot be a good thing for those who make a living looking and producing oil reserves here in the US! These type of high volatility price swings and deviations are damaging to almost all becuase it's not the lower and probably more reasonable price of oil, but the rapid ups and downs that do the most damage to our overall economy. Years back whn the price of oil was fairly stable and did not have these big swings, the oil industry, oil users and general fuel and oil products users could budget and adjust for the small deviations and the Amercian consumer did not worry, fret and complain about the cost of fuel and oil products, consumer confidence and spending was pretty constant, joblessness was dimished and other than shortages from the middle east OPEC baloney , the price of oil was not a real threatening issue as it has become today.
My real wish is that we can see, stability in the price of oil at a reasonable level, domestic oil production can grow and sustain istself and we can continue to get more efficient with oil and energy in general and we can rebuild our tattered economy and get back on the road to jobs growth, a growing middle class and a stable sustainable economy with some debt reduction thrown in for good measure!
Not to much to ask for EH! Well it doesn't hurt to dream does it !
Best Regards,
Ray @ Raylar
Can you spell Deflation ! Now that's really a scary thought !
Honestly this kind of precipitous drop cannot be a good thing for those who make a living looking and producing oil reserves here in the US! These type of high volatility price swings and deviations are damaging to almost all becuase it's not the lower and probably more reasonable price of oil, but the rapid ups and downs that do the most damage to our overall economy. Years back whn the price of oil was fairly stable and did not have these big swings, the oil industry, oil users and general fuel and oil products users could budget and adjust for the small deviations and the Amercian consumer did not worry, fret and complain about the cost of fuel and oil products, consumer confidence and spending was pretty constant, joblessness was dimished and other than shortages from the middle east OPEC baloney , the price of oil was not a real threatening issue as it has become today.
My real wish is that we can see, stability in the price of oil at a reasonable level, domestic oil production can grow and sustain istself and we can continue to get more efficient with oil and energy in general and we can rebuild our tattered economy and get back on the road to jobs growth, a growing middle class and a stable sustainable economy with some debt reduction thrown in for good measure!
Not to much to ask for EH! Well it doesn't hurt to dream does it !
Best Regards,
Ray @ Raylar
06-21-2012, 10:23 PM
#195
The US also has the largest emergency oil supplies in the world. The release of oil from strategic petroleum reserves pushes prices down as the supply of oil is increased. In fact, even a statement to the effect that the government is considering the release of emergency oil supplies is enough to knock oil prices down. One only has to look at what happened in March 2012 when President Obama released a joint statement with the British Prime Minister David Cameron, announcing that both the UK and US were considering the release of emergency oil supplies. This alone was enough to have an immediate effect on oil prices and knock them down.
I guess so.
I guess so.
06-21-2012, 10:35 PM
#196
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Well the price of oil has fallen tonight to a new low of about $78 dollars a barrel and that's almost a 50% drop in just over a month- Wow!
Can you spell Deflation ! Now that's really a scary thought !
Honestly this kind of precipitous drop cannot be a good thing for those who make a living looking and producing oil reserves here in the US! These type of high volatility price swings and deviations are damaging to almost all becuase it's not the lower and probably more reasonable price of oil, but the rapid ups and downs that do the most damage to our overall economy. Years back whn the price of oil was fairly stable and did not have these big swings, the oil industry, oil users and general fuel and oil products users could budget and adjust for the small deviations and the Amercian consumer did not worry, fret and complain about the cost of fuel and oil products, consumer confidence and spending was pretty constant, joblessness was dimished and other than shortages from the middle east OPEC baloney , the price of oil was not a real threatening issue as it has become today.
My real wish is that we can see, stability in the price of oil at a reasonable level, domestic oil production can grow and sustain istself and we can continue to get more efficient with oil and energy in general and we can rebuild our tattered economy and get back on the road to jobs growth, a growing middle class and a stable sustainable economy with some debt reduction thrown in for good measure!
Not to much to ask for EH! Well it doesn't hurt to dream does it !
Best Regards,
Ray @ Raylar
Can you spell Deflation ! Now that's really a scary thought !
Honestly this kind of precipitous drop cannot be a good thing for those who make a living looking and producing oil reserves here in the US! These type of high volatility price swings and deviations are damaging to almost all becuase it's not the lower and probably more reasonable price of oil, but the rapid ups and downs that do the most damage to our overall economy. Years back whn the price of oil was fairly stable and did not have these big swings, the oil industry, oil users and general fuel and oil products users could budget and adjust for the small deviations and the Amercian consumer did not worry, fret and complain about the cost of fuel and oil products, consumer confidence and spending was pretty constant, joblessness was dimished and other than shortages from the middle east OPEC baloney , the price of oil was not a real threatening issue as it has become today.
My real wish is that we can see, stability in the price of oil at a reasonable level, domestic oil production can grow and sustain istself and we can continue to get more efficient with oil and energy in general and we can rebuild our tattered economy and get back on the road to jobs growth, a growing middle class and a stable sustainable economy with some debt reduction thrown in for good measure!
Not to much to ask for EH! Well it doesn't hurt to dream does it !
Best Regards,
Ray @ Raylar
Oil ran up due to tensions in Iran that have calmed down
High reserves
Strenthing of the dollar, oil is traded in dollars
Slowing of the world wide economy
Oil may (key word) be more stable for a while and then probably settle to around 85 a barrel. Also two very large oil producing nations Iraq and Iran are not even close to peak production. Iraq will not be there intill 2017 (est.) eventually
Iran will quiet down and be back on line. When this happens there will be a lot of oil added to the world supply.
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07-26-2012, 11:58 AM
#198
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So............................ with the mid-west drought and significant damage to this summers corn crop what impact will this have on ethanol production and gasoline prices ? I've seen articles stating corn associated food costs will rise.
ed
ed
07-27-2012, 07:23 AM
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The US also has the largest emergency oil supplies in the world. The release of oil from strategic petroleum reserves pushes prices down as the supply of oil is increased. In fact, even a statement to the effect that the government is considering the release of emergency oil supplies is enough to knock oil prices down. One only has to look at what happened in March 2012 when President Obama released a joint statement with the British Prime Minister David Cameron, announcing that both the UK and US were considering the release of emergency oil supplies. This alone was enough to have an immediate effect on oil prices and knock them down.
I guess so.
I guess so.
07-27-2012, 07:40 AM
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http://www.businessinsider.com/corn-...graphic-2012-7
