dubyaD40.com

Today's Topics


Monday, April 21, 2008
*Supply vs. Demand: Bullsht posted by Dookie The Webmaster 6:07 AM So does this mean we'll never see another headline like "Oil price rise on news of supply concerns."? I wonder how many times they've used that one before? So let's see: People are cutting back because the prices are at an all time high. Doesn't that mean less demand? Shouldn't the prices be going down? OPEC chief: Oil prices would go higher regardless of supply** OPEC Secretary-General Abdullah el al-Badri said Sunday oil prices would likely go higher and that the group was ready to raise production if the price pressure was due to a shortage of supply - something he doubted. "Oil prices, there is a common understanding that has nothing to do with supply and demand," al-Badri said on the sidelines of an energy conference in Rome. Oil prices reached a new high Friday at $117 a barrel. A host of supply and demand concerns in the U.S. and abroad, along with the dollar's weakness, have served to support prices, even as record retail gasoline prices in the U.S. appear to be dampening demand. Crude prices have risen as much as 4 percent last week. The OPEC chief said the Organization for Petroleum Exporting Countries "will not hesitate" to increase production if the group thought the higher prices were due to shortages. But he said more oil will not solve the high prices. OPEC's production levels were just one of many factors, he said. "But how much higher it will go, of course it depends on a number of things: the political situation, whether there is a natural catastrophe, whether there are speculations in the market, whether there are strikes in certain producing countries. So there are many other factors other than OPEC production," al-Badri said. $4 = monopoly Permalink :: 2 comments :: Post a Comment




	This is exactly the type of manipulating that Enron did with electricity in the 90's. The oil prices keep climbing because the stock market futures for oil are being manipulated by the oil (as opposed to the enron) companies. They bid at the stock market (using credit not cash) that the price of oil will climb. As long as they can manipulate and get their own company to buy it at these inflated prices, they pocket the money made at the stock market because they gambled that the price would go up. They never spend a penny at the stock market but they make billions there. Then they purchase it,refine it and pass the self inflated prices along to the consumer. They make 2 huge profits on the oil by pulling Enron style manipulation of the market. Of course they let the politicians feed at the trough. The people who suffer are the consumer and the people who can't afford to eat,drive or survive. The wealthy love it and they have run the Unions out of business so that the workers will never advance unless they can figure a way to join the team of the oppressors. Get real, they love the illegal stock manipulations and profit with each job lost. Hell, America has become a fire sale and the elite are grabbing it up just like they have been doing third world contries for decades. All it takes is a few politicians to look away while they too fill their pockets. It's all a scam. Two TEXAS OILMAN in charge sure makes it easy, but the other pols have to be complicit and they are. posted by md at 9:43 AM


	md - That's partly true, but we also have to remember that we pay a relatively small price for gasoline in the US. A co-worker in the Netherlands was kind enough to do some conversions, and he just paid $7.86/gallon to fill up this morning. I was in Portugal last year and the prices were similar. We use the lion's share, but pay much less than others do. The price should have been rising all along in accordance with demand, but that's not a popular concept. Politicians get re-elected by promising affordable fuel. We can blame it all on them, but we're complicit. Nobody wants to curb their use - that means smaller cars, less driving, fewer recreational vehicles (boats, ATVs, motorcycles, RVs) and putting time and energy into alternative fuels. Oil companies are certainly going to fight that solution tooth and nail, but the average citizen is too. They don't want to pay prices comparable to other countries and they don't want to curb their usage. They want everything to stay just as it is. Unfortunately, we have to grow up and take some responsibility. If we want to keep using our toys, we have to be willing to pay the price. Either at the pump or through replacing them with oil-free technology. posted by Jenna at 1:04 PM