Posted on 05/10/2006 8:51:30 AM PDT by LexHoskin
MAY. 10 10:59 A.M. ET Crude futures fell Wednesday after U.S. government data showed an increase in oil and gasoline supplies and higher refinery output.
Prices continued to be supported, however, by concerns about the outlook for Iran's oil exports amid the country's diplomatic confrontation with the West over its nuclear program. With global demand strong and the supply cushion thin, traders also remain worried about output losses in Nigeria, Iraq and the Gulf of Mexico.
Light, sweet crude for June delivery fell 64 cents to $70.05 a barrel on the New York Mercantile Exchange, where gasoline futures fell 1.66 cents to $2.03 a gallon.
(Excerpt) Read more at businessweek.com ...
It's not just "liberal" media that are saying that. Truckers have been told to expect $3-$4/gallon this summer, and $3.75 is in that range.
That's how I feel. I'm a "cooler" when it comes to the stock market.
Well I have seen gas for $2.59 here.
"61% of Americans believed something "illegal" or "wrong" was being done to cause prices to go higher. Only 28% believed it supply and demand. So, the liberal/lefty leaning press' message about big oil is getting through to most."
I'd guess about 90% of the great unwashed masses are too ignorant to understand that, adjusted for inflation, gasoline prices are about where they should be.
Further extrapolation would likely show that 100% of the "liberal/lefty leaning" media whores haven't the first clue what "adjusted for inflation" even means. We are being inundated by idiots!
I am inclined to agree with that. I've noticed that every time the DOE or futures traders make any statement about inventories, they always have to include the fear factor ie IRAN Nigeria Hugos follies etc. With the exception of Nigeria, all the other suppliers I would say they are pumping it out at almost full capacity. Why wouldn't they want to cash in while the price is up. If the DOE and traders would just shut up for three days, I'd be curious to see where the price per barrel goes.
I agree. Unfortunately, there are more idiots now than before and their masses grow by the second as more idiots breed more idiots on free government medical care.
Memorial day should a good indicator to see if the Oil party is over. Why would I want to give those Rat Dastards my hard earned money and I can afford it. I'm just going to stay home this year and relax.
Sunday night before Katrina hit, the pipeline companies were begging for storage space ( too much unleaded inventory ) , next day, news whores reporting shortage.
That's just one example, I can think of a million more!
"Bush's fault!"
If the speculators ignored Iran for one month, prices would be back to 50 dollars a barrel.
The same morons who mandated MTBE and later changed the mandate to Ethanol also made it illegal to mix MTBE with Ethanol. So, not only was there a shortage of more expensive Ethanol but everyone in the distribution chain had to run their fuel tanks dry. Not only that, they had to thoroughly dry their tanks since ethanol mixes quite nicely with water.
I think it's absurd that this is text from an actual federal document. Absurd.
NFL prospects aren't difficult to forecast. This retard at the DOE must not realize that guys like Pioli/Belichick and Cowher routinely make excellent choices at forecasting the apparently "unforecastable." The key, then, to whatever extent this analogy has any application to oil futures forecasting, is to find people who can properly make these forecasts. And choosing quality players late in the draft doesn't at all mean that the drafter believed that player wasn't good enough to be drafted previously. The rounds that players are drafted by crafty drafters are based on which round they think the player will be drafted and to draft him just before that round-- so that his price tag is as cheap as possible and so you can acquire less risky players earlier.
You could have drafted a fantasy baseball team in 2001 and drafted Albert Pujols in the 1st round. At the end of the season, everyone would agree Pujols produced like a 1st rounder. Or, you could have drafted a fantasy baseball team and drafted A-Rod in the 1st and Pujols in the last round. The guy who got both A-Rod and Pujols in 2001 is anything but inept.
I B F
Some will stay home. Some will fly. Jet fuel and gasoline are decoupled.
Jimmy Who. :)
Thats what I intend to do to. If more would do the same, we could end this quickly.
"I am inclined to agree with that. I've noticed that every time the DOE or futures traders make any statement about inventories, they always have to include the fear factor ie IRAN Nigeria Hugos follies etc. With the exception of Nigeria, all the other suppliers I would say they are pumping it out at almost full capacity. Why wouldn't they want to cash in while the price is up. If the DOE and traders would just shut up for three days, I'd be curious to see where the price per barrel goes."
I believe the tightness of supply has set up the conditions for the traders to manipulate the market. Every time a Senator screams "investigation" the price drops a couple of bucks immediately.
I'm wishing this fuel price rise would get poor people off the streets but so far it hasn't happened at all.
Just yesterday some illegal in a mid 80s full size Chevy rustbucket creamed my buddies Camaro SS convertible and ran away.
I was surprised, as well.
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