1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

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

    99,465
    37,345
    0
    Nov 22, 2007
    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

    7,577
    4,570
    113
    Mar 23, 2008
    Houston Texas
  3. Stringer Bell

    Stringer Bell Post Hard, Post Often Club Member

    43,950
    21,540
    113
    Mar 22, 2008
    Gas is not that expensive.
     
  4. Fin D

    Fin D Sigh Club Member

    72,252
    43,680
    113
    Nov 27, 2007
    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

    258
    187
    0
    May 29, 2009
    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

    53,351
    23,020
    0
    Dec 7, 2007
    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!

    5,257
    1,725
    113
    Apr 28, 2008
    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

    39,161
    21,798
    113
    Nov 29, 2007
    San Diego
    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

    10,327
    3,686
    113
    Nov 26, 2007
    Detroit Metro Area MI
    Doesnt gas always creep upward during the summer months?
     
  10. 2socks

    2socks Rebuilding Since 1973

    8,143
    2,103
    113
    Nov 27, 2008
    Atlanta
    Hmmmmmmmm.......no balls?
     
  11. my 2 cents

    my 2 cents Well-Known Member

    4,087
    2,335
    113
    Dec 10, 2007
    NC Mountains
    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

    8,143
    2,103
    113
    Nov 27, 2008
    Atlanta
    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

    23,326
    35,930
    113
    Nov 23, 2007

    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 .
     

Share This Page