hope you filled up this morning

[Aske]

http://news.yahoo.com/s/a...15/ap_on_bi_ge/oil_prices

[Spanky]

I saw diesel at $4.09 this morning.

[stroh]

*fudge* that!  I say the U.S. Gov. should take action!
We should manufacture a excuse for a military action in the Middle East, storm over there, invade, take contr

[Aske]

I saw diesel at $4.09 this morning.

lol, it's been $4.29 here for weeks

[spacey]

I'm no big oil company conspiracy knowing stuff type dealy or anything, so correct me if I'm totally off base, but isn't all the gloom and doom the-sky-is-falling hysteria at least partly responsible for keeping gas prices high? I mean every time a spike is predicted and people rush to the gas station to fill up their tanks and/or horde extra supplies, aren't they just creating artificial demand and perpetuating the supply deficit while the speculators rejoice?

[Aske]

I'm no big oil company conspiracy knowing stuff type dealy or anything, so correct me if I'm totally off base, but isn't all the gloom and doom the-sky-is-falling hysteria at least partly responsible for keeping gas prices high? I mean every time a spike is predicted and people rush to the gas station to fill up their tanks and/or horde extra supplies, aren't they just creating artificial demand and perpetuating the supply deficit while the speculators rejoice?

the whole thing is one ginormous cluster*fudge* of a positive feedback loop
http://en.wikipedia.org/wiki/Positive_feedback

[Spanky]

I'm no big oil company conspiracy knowing stuff type dealy or anything, so correct me if I'm totally off base, but isn't all the gloom and doom the-sky-is-falling hysteria at least partly responsible for keeping gas prices high? I mean every time a spike is predicted and people rush to the gas station to fill up their tanks and/or horde extra supplies, aren't they just creating artificial demand and perpetuating the supply deficit while the speculators rejoice?

the whole thing is one ginormous cluster*fudge* of a positive feedback loop
http://en.wikipedia.org/wiki/Positive_feedback

So that's a yes? Aske agrees with Spacey?

[gleek]

I'm no big oil company conspiracy knowing stuff type dealy or anything, so correct me if I'm totally off base, but isn't all the gloom and doom the-sky-is-falling hysteria at least partly responsible for keeping gas prices high? I mean every time a spike is predicted and people rush to the gas station to fill up their tanks and/or horde extra supplies, aren't they just creating artificial demand and perpetuating the supply deficit while the speculators rejoice?

the whole thing is one ginormous cluster*fudge* of a positive feedback loop
http://en.wikipedia.org/wiki/Positive_feedback

Do you think this positive feedback loop can be broken if we all pray to God to lower gas prices?

In all seriousness, how much can the US consumer really horde anyway? It's not like we have giant gas tanks in our back yard. I think prices are more affected by the artificial demand created at the global level by the oil cartel known as OPEC. And in this game of controlling supply to maximize profits, big US oil companies are willing participants.

[Aske]

I'm no big oil company conspiracy knowing stuff type dealy or anything, so correct me if I'm totally off base, but isn't all the gloom and doom the-sky-is-falling hysteria at least partly responsible for keeping gas prices high? I mean every time a spike is predicted and people rush to the gas station to fill up their tanks and/or horde extra supplies, aren't they just creating artificial demand and perpetuating the supply deficit while the speculators rejoice?

the whole thing is one ginormous cluster*fudge* of a positive feedback loop
http://en.wikipedia.org/wiki/Positive_feedback

Do you think this positive feedback loop can be broken if we all pray to God to lower gas prices?

In all seriousness, how much can the US consumer really horde anyway? It's not like we have giant gas tanks in our back yard. I think prices are more affected by the artificial demand created at the global level by the oil cartel known as OPEC. And in this game of controlling supply to maximize profits, big US oil companies are willing participants.

i disagree somewhat. sure 'merkan gluttony is huge.  sure OPEC used* to be a power player. unfortunately, OPEC will enter/has just entered peak production off all their conventional giants.  Brazil might join in the next year or two after that 'find' yesterday, but really the age of OPEC is over. the age of the commodities speculator is on the doorstep.  the remaining profitably recoverable oil   is their domain , and has been since the curve above plateaued.   trust me , OPEC would be increasing production right now if they could.

[gleek]

I'm no big oil company conspiracy knowing stuff type dealy or anything, so correct me if I'm totally off base, but isn't all the gloom and doom the-sky-is-falling hysteria at least partly responsible for keeping gas prices high? I mean every time a spike is predicted and people rush to the gas station to fill up their tanks and/or horde extra supplies, aren't they just creating artificial demand and perpetuating the supply deficit while the speculators rejoice?

the whole thing is one ginormous cluster*fudge* of a positive feedback loop
http://en.wikipedia.org/wiki/Positive_feedback

Do you think this positive feedback loop can be broken if we all pray to God to lower gas prices?

In all seriousness, how much can the US consumer really horde anyway? It's not like we have giant gas tanks in our back yard. I think prices are more affected by the artificial demand created at the global level by the oil cartel known as OPEC. And in this game of controlling supply to maximize profits, big US oil companies are willing participants.

i disagree somewhat. sure 'merkan gluttony is huge.  sure OPEC used* to be a power player. unfortunately, OPEC will enter/has just entered peak production off all their conventional giants.  Brazil might join in the next year or two after that 'find' yesterday, but really the age of OPEC is over. the age of the commodities speculator is on the doorstep.  the remaining profitably recoverable oil   is their domain , and has been since the curve above plateaued.   trust me , OPEC would be increasing production right now if they could.

Yes, I agree that OPEC's ability to single-handedly control oil prices has been diminished, but it's still the biggest player in the global market, and it has a significant influence on the actions of non-member organizations. It seems to me that in the oil business, one entity's supply problems isn't necessarily a reason to increase production in order to capture that entity's lost sales opportunities. If you don't sell your oil today, you know somebody will buy it tomorrow. And in this game, you certainly don't want to be first to play your last card.

[Aske]

I'm no big oil company conspiracy knowing stuff type dealy or anything, so correct me if I'm totally off base, but isn't all the gloom and doom the-sky-is-falling hysteria at least partly responsible for keeping gas prices high? I mean every time a spike is predicted and people rush to the gas station to fill up their tanks and/or horde extra supplies, aren't they just creating artificial demand and perpetuating the supply deficit while the speculators rejoice?

the whole thing is one ginormous cluster*fudge* of a positive feedback loop
http://en.wikipedia.org/wiki/Positive_feedback

Do you think this positive feedback loop can be broken if we all pray to God to lower gas prices?

In all seriousness, how much can the US consumer really horde anyway? It's not like we have giant gas tanks in our back yard. I think prices are more affected by the artificial demand created at the global level by the oil cartel known as OPEC. And in this game of controlling supply to maximize profits, big US oil companies are willing participants.

i disagree somewhat. sure 'merkan gluttony is huge.  sure OPEC used* to be a power player. unfortunately, OPEC will enter/has just entered peak production off all their conventional giants.  Brazil might join in the next year or two after that 'find' yesterday, but really the age of OPEC is over. the age of the commodities speculator is on the doorstep.  the remaining profitably recoverable oil   is their domain , and has been since the curve above plateaued.   trust me , OPEC would be increasing production right now if they could.

Yes, I agree that OPEC's ability to single-handedly control oil prices has been diminished, but it's still the biggest player in the global market, and it has a significant influence on the actions of non-member organizations. It seems to me that in the oil business, one entity's supply problems isn't necessarily a reason to increase production in order to capture that entity's lost sales opportunities. If you don't sell your oil today, you know somebody will buy it tomorrow. And in this game, you certainly don't want to be first to play your last card.

If you believe a global supply crash will cause a prolonged and inevitable depression  the present value of the oil far exceeds its future value, no ?

[birdymaker]

I saw diesel at $4.09 this morning.

lol, it's been $4.29 here for weeks

same here.