And yet gasoline prices rise

yubba · 02-29-12, 08:13 PM

and here we go again, with our heads buried in the sand, how high does it have too go before it breaks you and this country {U.S.A} ?????????? as it stands, a can of store brand peas 89 cents.

Gargamel · 02-29-12, 08:25 PM

Well considering part of it is the cost of gas futures, id say we're doing it to ourselves. Notice when the market crashed a few years ago, gas dropped too?

nikimcbee · 02-29-12, 08:34 PM

I'm watching milk prices. I noticed the changes there, and the prices haven't dropped since they went up.

mookiemookie · 02-29-12, 08:49 PM

Curtail speculation and you'll bring gas prices down. If the friggin CFTC would do what it was created to do, then this wouldn't be a problem. Bring regulatory power to bear on the OTC markets and the ICE exchange, take the profitability out of derivatives that serve no purpose except to profit at the expense of the lifeblood of the American economic machine like a vampire, and things will be better.

the_tyrant · 02-29-12, 08:52 PM

Damn OPEC and that price fixing cartel

I am looking forward to the day when the middle east runs out of oil, or the day when a good replacement for oil is found.

that is day when the middle east is swept under carpet, and wars there would barely be worth a sidebar.

CaptainMattJ. · 02-29-12, 09:29 PM

Speculation? No. More like price gouging reclassified as speculation so they can get away with it without massive uproar.

CaptainHaplo · 02-29-12, 10:13 PM

Mookie has a very valid point here. The "speculation" on things has driven the cost much higher than its "real" worth - and thus we the consumer pay for it - because the supplies pays for it - because the refiner's pay for it.

While "drill, baby drill" will increase the supply of "raw" petroleum products, only with increased refinery capability would it significantly help. Even then, it only pushes futures "moderately" lower because the market isn't working on realtime supply and demand - instead its running on futures that have no real bearing or foundation on what the market really is.

The only reason futures are "allowed" is because the US economy is petro-driven. Thus the market will "always" be there - making "future speculation" a profitable action.

gimpy117 · 02-29-12, 10:24 PM

Drill baby drill!!!

oh wait...oil prices don't follow laws of supply and demand.....

soopaman2 · 02-29-12, 10:33 PM

Quote:

Originally Posted by mookiemookie

Curtail speculation and you'll bring gas prices down. If the friggin CFTC would do what it was created to do, then this wouldn't be a problem. Bring regulatory power to bear on the OTC markets and the ICE exchange, take the profitability out of derivatives that serve no purpose except to profit at the expense of the lifeblood of the American economic machine like a vampire, and things will be better.

I have a solution to speculators, be it gold, sugar, oil, pork bellies, ets.

Force the buyers to take delivery. Not a certificate, but actual product.

Force them to arrange transport and storage of said 10000 barrels of oil or 1000 pounds of pork bellies.

I am sick of 3 card monty games being played with things that people depend on to survive, Like grain, corn, pork, oil, and all the other things the too rich do with their money to screw the workers over.

But people that typically speculate donate much more to campaigns, than those of us living paycheck to paycheck.

TorpX · 03-01-12, 12:30 AM

Blaming the speculators might make people feel good, but it won't solve the problem. The reason everything prices are rising is than our money is worth less now than it was before. It is a direct consequence of the US Government printing money to finance it's spending. (Remember "Quantitative Easing"?) Regulate the speculators all you want, have a congressional lynching, but it will not make prices go back down. As long as the Fed keeps inflating the currency, it will lose value.

Gargamel · 03-01-12, 12:40 AM

But where has hat inflation gone to? I know I haven't seen any of it. My info e hasnt grown to match. I know that. Neither has most of us. It goes to the 1%rs we hear so much about.

TorpX · 03-01-12, 12:56 AM

If you mean who benefits from it, only the Gov't. It is a sneaky way for Congress, and El Presidente to spend more without having to raise taxes or borrow money. It is, in effect, the same as counterfieting. The people hurt the most are people who are retired, or have substantial savings. They had to work hard, earning money that was really worth something. Then when they go to spend it, they find it is only worth a fraction of what it should be worth. In the long run, the whole nation will be hurt by all this.

magic452 · 03-01-12, 01:23 AM

Just wait till real inflation hits and it's not too far off.

They can't keep interest rates this low forever and that is the only thing keeping this economy going. They are stuck between a rock (Debt) and a hard place (inflation) They don't have any options left. One way or the other we are going to take it in the shorts.

Magic

Oberon · 03-01-12, 08:20 AM

Try living in the fuel tax capital of Europe...

Herr-Berbunch · 03-01-12, 08:30 AM

Quote:

Originally Posted by Oberon

Try living in the fuel tax capital of Europe...

Suffolk?

Ah yes, but fortunately it all goes back in to our wonderful, world-class road system so we don't have to worry about things like pot-holes or never-ending, never-working-on-them roadworks.

Uh, what? Why wake me from my super dream now?

02-29-12, 08:13 PM	#1
yubba Admiral Join Date: Sep 2009 Location: in a neighborhood near you Posts: 2,478 Downloads: 293 Uploads: 2	And yet gasoline prices rise and here we go again, with our heads buried in the sand, how high does it have too go before it breaks you and this country {U.S.A} ?????????? as it stands, a can of store brand peas 89 cents.

02-29-12, 08:25 PM	#2
Gargamel Lucky Sailor Join Date: Oct 2010 Location: Rome Posts: 4,273 Downloads: 81 Uploads: 0	Well considering part of it is the cost of gas futures, id say we're doing it to ourselves. Notice when the market crashed a few years ago, gas dropped too? __________________ Luck is a residue of Design.

02-29-12, 08:34 PM	#3
nikimcbee Fleet Admiral Join Date: Jul 2003 Location: Patroling the Slot. Posts: 17,952 Downloads: 90 Uploads: 0	I'm watching milk prices. I noticed the changes there, and the prices haven't dropped since they went up. __________________

02-29-12, 08:49 PM	#4
mookiemookie Navy Seal Join Date: Nov 2005 Location: Houston, TX Posts: 9,404 Downloads: 105 Uploads: 1	Curtail speculation and you'll bring gas prices down. If the friggin CFTC would do what it was created to do, then this wouldn't be a problem. Bring regulatory power to bear on the OTC markets and the ICE exchange, take the profitability out of derivatives that serve no purpose except to profit at the expense of the lifeblood of the American economic machine like a vampire, and things will be better. __________________ They don’t think it be like it is, but it do. Want more U-boat Kaleun portraits for your SH3 Commander Profiles? Download the SH3 Commander Portrait Pack here.

02-29-12, 08:52 PM	#5
the_tyrant Admiral Join Date: Jun 2010 Location: Canada Posts: 2,272 Downloads: 58 Uploads: 0	Damn OPEC and that price fixing cartel I am looking forward to the day when the middle east runs out of oil, or the day when a good replacement for oil is found. that is day when the middle east is swept under carpet, and wars there would barely be worth a sidebar. __________________ My own open source project on Sourceforge OTP.net KGB grade encryption for the rest of us

02-29-12, 09:29 PM	#6
CaptainMattJ. The Old Man Join Date: Aug 2009 Location: Sin City Posts: 1,364 Downloads: 55 Uploads: 0	Speculation? No. More like price gouging reclassified as speculation so they can get away with it without massive uproar. __________________ A popular Government without popular information nor the means of acquiring it, is but a Prologue to a Farce or a Tragedy or perhaps both. Knowledge will forever govern ignorance, and a people who mean to be their own Governors must arm themselves with the power knowledge gives - James Madison

02-29-12, 10:13 PM	#7
CaptainHaplo Silent Hunter Join Date: Apr 2007 Posts: 4,404 Downloads: 29 Uploads: 0	Mookie has a very valid point here. The "speculation" on things has driven the cost much higher than its "real" worth - and thus we the consumer pay for it - because the supplies pays for it - because the refiner's pay for it. While "drill, baby drill" will increase the supply of "raw" petroleum products, only with increased refinery capability would it significantly help. Even then, it only pushes futures "moderately" lower because the market isn't working on realtime supply and demand - instead its running on futures that have no real bearing or foundation on what the market really is. The only reason futures are "allowed" is because the US economy is petro-driven. Thus the market will "always" be there - making "future speculation" a profitable action. __________________ Good Hunting! Captain Haplo

02-29-12, 10:24 PM	#8
gimpy117 Ocean Warrior Join Date: Jul 2007 Location: Kalamazoo, MI Posts: 3,243 Downloads: 108 Uploads: 0	Drill baby drill!!! oh wait...oil prices don't follow laws of supply and demand..... __________________ Member of the Subsim Zombie Army

03-01-12, 12:30 AM	#10
TorpX Silent Hunter Join Date: Sep 2010 Posts: 3,975 Downloads: 153 Uploads: 11	Blaming the speculators might make people feel good, but it won't solve the problem. The reason everything prices are rising is than our money is worth less now than it was before. It is a direct consequence of the US Government printing money to finance it's spending. (Remember "Quantitative Easing"?) Regulate the speculators all you want, have a congressional lynching, but it will not make prices go back down. As long as the Fed keeps inflating the currency, it will lose value.

03-01-12, 12:40 AM	#11
Gargamel Lucky Sailor Join Date: Oct 2010 Location: Rome Posts: 4,273 Downloads: 81 Uploads: 0	But where has hat inflation gone to? I know I haven't seen any of it. My info e hasnt grown to match. I know that. Neither has most of us. It goes to the 1%rs we hear so much about. __________________ Luck is a residue of Design.

03-01-12, 12:56 AM	#12
TorpX Silent Hunter Join Date: Sep 2010 Posts: 3,975 Downloads: 153 Uploads: 11	If you mean who benefits from it, only the Gov't. It is a sneaky way for Congress, and El Presidente to spend more without having to raise taxes or borrow money. It is, in effect, the same as counterfieting. The people hurt the most are people who are retired, or have substantial savings. They had to work hard, earning money that was really worth something. Then when they go to spend it, they find it is only worth a fraction of what it should be worth. In the long run, the whole nation will be hurt by all this.

03-01-12, 01:23 AM	#13
magic452 Sea Lord Join Date: Sep 2007 Location: Reno Nevada USA Posts: 1,860 Downloads: 85 Uploads: 0	Just wait till real inflation hits and it's not too far off. They can't keep interest rates this low forever and that is the only thing keeping this economy going. They are stuck between a rock (Debt) and a hard place (inflation) They don't have any options left. One way or the other we are going to take it in the shorts. Magic __________________ Reported lost 11 Feb. 1942 Signature by depthtok33l

03-01-12, 08:20 AM	#14
Oberon Lucky Jack Join Date: Jul 2002 Posts: 25,976 Downloads: 61 Uploads: 20	Try living in the fuel tax capital of Europe...