Re: Gas/Oil - demand

Posted by Mark - IN. on April 13, 2005 at 10:16:20 from (66.239.123.194):

In Reply to: Re: Gas/Oil - demand posted by Hayman on April 13, 2005 at 06:59:40:

Actually, I think that it's more of a supply and demand issue. China's buying up reserves worldwide as fast as it can be pumped. Europe's a big user of diesel, and it's at a premium cost. Our oil companies can get more for their buck buy selling to both of them, and can raise the prices to North America accordingly. I believe it's more of a "pay what we want", or we'll sell to them.

It's nice that congress is going to allow "test" drilling in Anwar to begin in 10 years. Very nice. Doesn't do squat now. And the next question about the Anwar oil, if it does turn out to be such a great find, as predicted by some, is "Where is that oil going to end up?". The oil from the pipeline that was intended to alleviate the high prices and shortages in the US after the 70's oil embargo is EXPORTED to countries such a s Japan - None of it is used domestically, it's all exported.

I don't truely believe that your, my, or anyone elses use is going to do anything to lower the prices.

I forget the percentages, but a few weeks ago crude dropped from a "then" all time high of $58 dollars per barrel to $53 per barrel, yet the price at the pumps did not go down accordingly, or linearly to how they go up every time that there's a raise. And prices do go up the same day at the pumps that the price goes up per barrel, and I'm referring to fuel already in underground tanks at gas/fuel stations. When asked why that is, the oil companies say because at any given time, there's only a days worth of refined fuel on hand, so the prices must go up accordingly. Then why isn't the converse true as well? When the price of crude drops by a certain percentage, does it not go down by a similar percentage, instead of a fraction of the percentage that it went up? And how did the oil companies know enough at the beginning of the year to predict that prices at the pump would hit $3.00 per gallon by summer? Based upon what? Why do prices at the pump typically go up Thursday nights before "payday" and the weekend, then often show a slight decrease on Mondays when folks aren't out driving about like they would be on weekends? I don't see the prices of crude going up on Thursdays and dropping on Mondays.

I often wonder if it's not manipulated with our government's blessing. Some of the same Congressmen and Senators whom complain the most about the oil companies take some of the largest campaign contributions from those same oil companies. On one hand, you have those that have either direct ties to oil companies, or friends whom are. On the other hand, you have those that are also lining their pockets with monies from Greenpeace and the likes, so high prices lead to the common folk downsizing vehicles, tools, etc, and they get what they want too, thanks to the cost of fuel. They're laughing all the way to the bank, you, I our neighbors are getting stung. Multimillionaire politicians with multi-million dollar "war/treasure chests" on their pay? How does that happen?

Mark

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