Interestingly, the high cost of oil these days has less to do with availability than it does with the hedgers driving the price of it up.
Think I'm full of shit????
<font size="2" face="Verdana, Helvetica, sans-serif">USA Today ArticleThe swelling price of gas has left retired stock analyst Don Harris ? and millions of other Americans ? re-evaluating life.
With a Ford F-150 pickup "that likes gas," Harris, 65, is in the market for a mid-size car that will get about 25 miles per gallon.
The 31-foot boat he docks at Lake Powell in Arizona ? a guzzler that gets about 2 miles a gallon ? will "probably sit all summer."
Interestingly, the high cost of oil these days has less to do with availability than it does with the hedgers driving the price of it up.
Agreed....
It's market speculation that is driving the prices of a barrel of brent crude to unheard of heights.
However, I believe they're speculating the prices as high as they are because they understand the dynamics of increasing demand (US, China, et al) versus the global supply which I believe has plateau'd and will within the next 5-7 years begin to decline.
Ever notice this too, every time the price goes way up the quality goes down? I was getting 25-30mpg in my car a few months ago, now it has droped to about 20mpg. May need plugs/wires, but it seems every time the price soars the quality comes down. I think they rush it thru the refineries to make as much $$$ as they can and quality control suffers.
<font size="2" face="Verdana, Helvetica, sans-serif">I may be wrong, but I believe the unrest in the middle east and terrorism are bigger factors, though increasing demand from China and India certainly round out the equation.Originally posted by Jumper69:
Agreed....
It's market speculation that is driving the prices of a barrel of brent crude to unheard of heights.
However, I believe they're speculating the prices as high as they are because they understand the dynamics of increasing demand (US, China, et al) versus the global supply which I believe has plateau'd and will within the next 5-7 years begin to decline.
Good points reason. I had forgotten about the "GWOT" etc. Those would definately explain the abnormally high (for the US that is) prices. I still believe, however, that long term, war or no war, we will eventually long for the days of $2.15 a gallon gasoline.
Did you break out the bike yesteday Trav?
It was perfect weather for it. I saw a bunch of bikers out enjoying the nice weather yesterday.
[img]tongue.gif[/img] [img]cool.gif[/img] [img]smile.gif[/img]
What are you ridin Trav? I work about a hundred billion miles from my home (at least when I fill up my tank every week it seems like it) and wouldn't mind investigating a bike. Know of any good ones for sale?
"Goldman Sachs bank (NYSE:GS - news) said in a research report on Thursday that oil markets have entered a "super-spike" period that could see prices rising as high as $105 a barrel."
Well, until we develop new energy sources, it's time to invade other countries and (don't steal it, that would be wrong) but basically say "this is what we are going to pay."
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