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Why gas prices are creeping back upwards

Discussion in 'Economics and Financials' started by padre31, Jun 2, 2009.

  1. padre31

    padre31 Premium Member Luxury Box

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    inching to 100k posts
    http://seekingalpha.com/article/140448-why-is-oil-creeping-back-up?source=article_sb_popular

    I find it surprising that the article does not mention the recent loss of strength in the Dollar relative to the Euro, the dollar has declined 6% and is dropping further meaning more dollars are needed to purchase oil..
     
  2. USArmyFinFan

    USArmyFinFan Maximum Effort

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  3. Stringer Bell

    Stringer Bell Post Hard, Post Often Club Member

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    Gas is not that expensive.
     
  4. Fin D

    Fin D Sigh

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    I must disagree.

    It is not expensive based on much of the rest of the world pays. However, based on what we can handle, it absolutely is.
     
  5. Rich

    Rich Banned

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    Oil speculators. They see the economy turning the corner so they drive the price back up.

    Why this is not regulated, especially by our current president who seems to be doing little to address the issue, is beyond me.
     
    ATVZ400, Agua, 2socks and 1 other person like this.
  6. unluckyluciano

    unluckyluciano For My Hero JetsSuck

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    yup basically. what really ticks me off is it seems longer for dropping oil prices to take effect at the pump then rising prices........
     
  7. Agua

    Agua Reality: Try It!

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    110% agree. This is the ONE thing the gov maybe should have stuck its nose in, rather than all this other BS, and its the ONE thing they haven't done. HIGH GAS is going to kill everything. They need to limit purchase of future contracts to sizes commensurate with bona fide users and production - those that will actually take delivery of the product. There is no sense in hedge funds running this BS up to turn a quick buck while the nation suffers. I know people that had to choose between eating regular meals and driving to work when this crap got up to $3.80+ last summer. The gov is so concerned with raising consumer spending, THERE'S the killer, right there.
     
  8. jdang307

    jdang307 Season Ticket Holder Club Member

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    Oil speculators who believe oil will be an inflation shelter once the economy turns the corner (many believe current fiscal policies will drive inflation wild once the economy turns).

    It's a global oil market. You will not be able to contain speculation.
     
  9. texanphinatic

    texanphinatic Senior Member

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    Doesnt gas always creep upward during the summer months?
     
  10. 2socks

    2socks Rebuilding Since 1973

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    Hmmmmmmmm.......no balls?
     
  11. my 2 cents

    my 2 cents Well-Known Member

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    it is a world market not a domestic one...not gonna happen....as much as I would love to see our POTUS tell Shiek Alla Abdul Mydamnoil that he cannot speculate on oil in the country of Mauritania..................but hey I do not put it past our POTUS to not allow US oil speculation.........now that would help tax revenues...lol..........
     
  12. 2socks

    2socks Rebuilding Since 1973

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    Here's an idea!!!

    why don't we just tax everyone's checks 100%. Then we could be put in a data base and when we want to buy something that we desire or need we just fill out a request form 3-6 months prior to the actual need. We would get what we want that way.....what ever's left over the Govt can keep, ya know kind of like all the taxes we pay now only thing is at least we would be certain what we are paying in taxes. Need toothpaste fill out a request. Want a cup of Starbucks fill out a request. Seems like it would work to me.

    Everyone on a fair level playing field. Bill Gates need's a computer.....fill out a request:shifty:
     
  13. CrunchTime

    CrunchTime Administrator Retired Administrator

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    When you print more money its worth less thus leading to inflation .Prices will rise especially on imported products such as oil.

    Pre war Germany did that and that led to hyper inflation.What as worth a mark one day was worth half a mark the next day.

    The consequences laid the groundwork for Hitler to take power

    Its a slippery slope .
     

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