The Cause of Higher Oil Prices

[GhostDakota]

http://icons-pe.wunderground.com/data/images/at200807_5day.gif

Looks like it's going to hit New Orleans again. Something like 25% of the US' oil comes from the Gulf of Mexico too... So some of those rigs are going to be hit.. great.

[kdailey4315]

If they really wanted to drive down the price of oil it would be taken off the futures market. Don't let investors speculate on it. Force people to take delivery of the crude oil they buy. Needless to say you are probably right in saying that prices will rise again

[IslanderOffRoad]

Weak dollar did more damage than Katrina ever did

[Jester99]

I fully expect that hurricane to be stronger than a Cat 2. I'm calling for a Cat 4. I really feel bad for New Orleans and the surrounding area. That area just can't seem to catch a break. I guess that's the price you pay by living on the coast...

[PuddinHead]

These oil companies make me sick. I live in the country and can only cut some much from my driving because there are NO alternatives. I can't trade vehicles, that doesn't make sense just now. Believe me when I do trade I'll be driving something that burns peanuts instead of gas.

[ECKSJAY]

Pull the string out.

Higher oil prices from a big storm hitting the Gulf? TOTALLY worth it. :roflmao: :roflmao: :roflmao:

[TunaSoda]

IT'S BELOW SEA LEVEL

Stop rebuilding shit, it's going to happen again they are in denial

[Kittrell]

If they really wanted to drive down the price of oil it would be taken off the futures market. Don't let investors speculate on it. Force people to take delivery of the crude oil they buy. Needless to say you are probably right in saying that prices will rise again

Bingo!

[RichP]

I fully expect that hurricane to be stronger than a Cat 2. I'm calling for a Cat 4. I really feel bad for New Orleans and the surrounding area. That area just can't seem to catch a break. I guess that's the price you pay by living on the coast...

That needs to be 'Living on the coast and BELOW sea level' maybe if it gets washed away one more time they will finally turn the whole area into a wildlife refuge or something... nah, never happen....

[RichP]

These oil companies make me sick. I live in the country and can only cut some much from my driving because there are NO alternatives. I can't trade vehicles, that doesn't make sense just now. Believe me when I do trade I'll be driving something that burns peanuts instead of gas.

To which oil companies do your refer ? If it's Exxon, Shell, etc it's a red herring, the oil companies that are cleaning up are Saudi, Kuwait, Iran, Iraq, Venezuela, etc and all those oil companies are OWNED by governments NOT corporations, thats who is making the money. How about qatar's new golf course designed by Tiger Wood's, guess where the money came from
http://www.tigerwoodsdubai.com/en/

[BIgDaddyChia]

http://img222.imageshack.us/img222/5409/lootersep5.jpg

[RTicUL8]

Hey Ramsey!

God is sending you a clue.....MOVE NORTH! :D

.

[redneckboarder]

yea im sorry but if i lived in a place whew i had to look up to see the ocean id rethink my decision...i dont trust the army core of engineers that much haha

[ocean_jet]

If they really wanted to drive down the price of oil it would be taken off the futures market. Don't let investors speculate on it. Force people to take delivery of the crude oil they buy. Needless to say you are probably right in saying that prices will rise again

So, stop future trading in New York... and it just means London and Dubai will get all the brokerage action. What good would that do?

There is no single entity that can stop global speculation.

And, future trading serves an important role for risk hedging... which, in theroy keeps long-term prices down.

[Deadman 94 xj]

http://img222.imageshack.us/img222/5409/lootersep5.jpg


LOL

[WB9YZU]

The Feds just have to stop trying to rebuild that French mistake.
Building on the coast, below sea level is one of the most retarded things I have ever heard of.

Fill it in, and start over.

The Feds eventually get sick of paying out flood damage claims. Look at Soldiers Grove, WI. The Feds came in, condemned it lock, stock, and barrel, then built a new town on the hill overlooking where the old town was. It was cheaper to build a new town, than to continue paying claims with no solution.

As far as the price of fuel. Speculation is, and has been a problem. Futures speculation is just that, speculation. End user prices are not usually coupled directly to futures as those are gambles of what things may cost in the future. However, today, a jump $10 a barrel in oil is immediately apparent at the pump, and that's not right.

Middle Eastern countries are not exactly going into the poor house with the price of oil, but you have to admit that for Exon to post the largest profit of any company ever in history, they are not the lambs going to the slaughter they'd like you to believe they are.

Likewise any entity that taxes fuel as a per cent of sale is not looking forward to a drop in fuel prices.

Someone said that speculation generally keeps prices down. I have never seen that.

[IslanderOffRoad]

How is Exxon's 8% profit margin a windfall, and Google's 25% isnt?

[ocean_jet]

However, today, a jump $10 a barrel in oil is immediately apparent at the pump, and that's not right.



Having a properly functioning futures market should serve to help alleviate such short term impacts... by allowing for price hedging.

[Ramsey]

Hey Ramsey!

God is sending you a clue.....MOVE NORTH! :D

.
I'm north enough, about all we usually get is rain, hell Katrina was nice because we had some nice cool weather...and then a lot more poor black folk...

[WB9YZU]

How is Exxon's 8% profit margin a windfall, and Google's 25% isnt?

Who said anything about Windfall?

Why do you care what Google does? Do you cook with the Internet? Does your Jeep run on the Internet? How warm will the Internet keep you in the Winter?

Exxon posted 39 billion dollars of profit last Quarter. That is the largest profit by any entity since Man crawled out of the primortial goo. 8% profit is HUGE in high volume circles. Most retail is thankful to make 6%.

I don't deride them the opportunity to make a profit, that's what capitolism is about. What I did say is that they went to the hill and gave a big sob story of how they were making so very little from oil, and energy in general. And I cry back at them "Bull Semen you don't! ".

Having a properly functioning futures market should serve to help alleviate such short term impacts... by allowing for price hedging.

Well, we don't have that. Every time some low level Hitler in the Middle East gets the idea in his rag to make a terrorist threat against the West, or another Religious Sect, or his neighbors Sheep, the news grabs it, the Speculators go wild, the markets have a knee jerk reaction, and the retail price at the pump goes up right after CBS gets done with the 6PM news cast. I am sick of those greedy fish-feces screwing up the worlds ecconomy for a buck or two.

Energy, with the exception of oil products, is regulated in most of the US. Your nearest Energy supplier can't, by law, suddenly say you are now paying $10/kw instead of $0.30/kw. In the places that those companies can, they have jacked over consumers to no end. Oil needs to be like that. We need a Organization to take Oil off the Futures market and regulate the price just like any other Utility.

[ECKSJAY]

I'm north enough, about all we usually get is rain, hell Katrina was nice because we had some nice cool weather...and then a lot more poor black folk...

:yelclap:

[beer_goggles_009]

Exxon posted 39 billion dollars of profit last Quarter. That is the largest profit by any entity since Man crawled out of the primortial goo. 8% profit is HUGE in high volume circles. Most retail is thankful to make 6%

Take a look at the earnings reports of fortune 500 publically traded companies all make or at least try to make much more than 8%. Especially when thier sales volume is the best that it has been in history.

[ocean_jet]

Well, we don't have that. Every time some low level Hitler in the Middle East gets the idea in his rag to make a terrorist threat against the West, or another Religious Sect, or his neighbors Sheep, the news grabs it, the Speculators go wild, the markets have a knee jerk reaction, and the retail price at the pump goes up right after CBS gets done with the 6PM news cast. I am sick of those greedy fish-feces screwing up the worlds ecconomy for a buck or two.


Tearing down futures markets will only serve to increase the short term impacts.



Energy, with the exception of oil products, is regulated in most of the US. Your nearest Energy supplier can't, by law, suddenly say you are now paying $10/kw instead of $0.30/kw. In the places that those companies can, they have jacked over consumers to no end. Oil needs to be like that. We need a Organization to take Oil off the Futures market and regulate the price just like any other Utility.

The reason utilities are so heavily regulated is not becuase they deliver energy... it's becuase they are natural monopolies (the transmission and distribution functions are anyway)... there is no competition to create a self-regulating market.

OIl and gas products are not natural monopolies.