Posted on 05/03/2006 7:38:25 AM PDT by kellynla
Oil prices fall on surprise inventory build. Gasoline inventories rise 2.1 million barrels. Crude oil stocks up 1.7 million barrels.
(Excerpt) Read more at money.cnn.com ...
But ... but ... but ... I thought there was a severe SHORTAGE of gasoline. What gives?
It's getting clearer that at least part of the recent price spike is due to market manipulation, IMO.
We haven't heard from the president of Iran yet. As soon as he makes his quote of the day, the price will go back up.
Wow, man.
Like prices rise; and then supply rises and demand drops; and then prices drop; and then . . .
It's like a cycle of business or something. A curve. A wave, even. Blows my mind.
(yes, sarcasm)
We at the crest everyone. Relax.
I got out of my one oil stock because I figure basic economics will finally kick in - higher prices = more production = less usage
IBBF! (In Before Bush's Fault)
Imagine that... It's almost as if the SUPPLY and DEMAND of a commodity affects prices.
We the people are being manipulated by .............
LOLOL....unintended consequences of the illegals staying out of work.
Breaking: Man is putting oil in his boat. Spills a drop. Severe shortage COULD happen. Oil up $2.00.
Unexpectedly? Didn't we just stop purchasing oil for the reserve? Um...wasn't that done to decrease demand and increase supply? What exactly did they expect?
The President stopped all the blending and relaxed some of the rules.
And people like me are driving less. Back and forth to work and that is it.
I'd like to think I played an ever-so-tiny part in that.....In a 30 day period starting April 1st, I've only logged 130 miles on any of my cars/trucks. All mileage has been on the motorcyle at 50+mpg. Commuting is without a doubt the larger percentage of my mileage, and at 100 miles a day I can't spend my kid's college fund to get back and forth to work.
So if I'm any example, I've cut my gasoline consumption is half and then some.
Gee, guess I will go camp out in front of local gas station and wait for the price at pump to fall.
May 3, 2006: 10:41 AM EDT
NEW YORK (CNNMoney.com) - Oil prices fell Wednesday after a government report said gas and oil inventories rose unexpectedly.
U.S. light crude for June delivery fell 81 cents to 73.80 a barrel on the New York Mercantile Exchange. Crude was trading down 16 cents just prior to the report, within striking distance of its all time trading high of $75.35 set April 21.
In its weekly stockpile report, the Energy Information Administration said crude supplies rose by 1.7 million barrels, while closely watched gasoline inventories swelled by 2.1 million barrels. Analysts were looking for a 100,000 barrel decline in crude and a 700,000 barrel drop in gasoline supplies, according to Reuters.
Distillates, which are used to make diesel and heating fuel, fell by 1.1 million barrels. Analysts were looking for a 100,000 barrel decline
I hear ya...I usually take two vacations a year with my family and several trips to Florida beaches on the weekends. Not anymore. We are planning one trip in October and that is it!
Oh yeah! Let's blame it all on "the envirowacks." Or the Democrats. Or Bill Clinton. That way we can dodge the obvious: we're being raped like drunken two-bit hookers at a Duke lacrosse party.
In its weekly stockpile report, the Energy Information Administration said crude supplies rose by 1.7 million barrels, while closely watched gasoline inventories swelled by 2.1 million barrels. Analysts were looking for a 100,000 barrel decline in crude and a 700,000 barrel drop in gasoline supplies, according to Reuters.
It takes time for Bush's rule changes regarding not requiring reformulations to take effect - refineries. This shows a massive swing.
I'm sorry, but it's getting harder to believe that this is all just market economics.
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