It always seems strange to me that the same people that complain about the price of fuel at the pump will then go inside the "Shop an' Rob"' and buy bottled water and cigaretttes ;)
JoeSpareBedroom wrote:
>>> F.H. wrote:
>>>> Jeff wrote:
>>>>> T>>>>>>>> Gee, Uncle Sam does set the price of oil.
>>>>>>> Uncle Sam allowed the merger of oil companies into
>>>>>>> a few giants destroying competition. Are you like
>>>>>>> 20 years old and oblivious to this history?
>>>>>>>
>>>>>> Obviously you are 20.....
>>>>>> The reason prices of oil are so high is because of SPECULATION...
>>>>>> Oil is TRADED since the 70's.....Since then the prices go with the >>>>>> MARKET,
>>>>>> just like a stock...
>>>>> Well that, the fact that it costs more to get the oil out of the
>>>>> ground because they have to drill deeper, inject steam or do other
>>>>> things to get the oil out of the ground, and the demand has gone way
>>>>> up, especially in countries like India and China.
>>>>>
>>>>> It is called the law of supply and demand.
>>>>>
>>>>> jeff
>>>> Still singing that song eh? What a crock. In the hullabaloo about free
>>>> market mortgage fiasco this *almost* slips by unnoticed:
>>>>
>>>> High fuel prices are puzzling
>>>> The wholesale cost is down, but the retail average remains above $3. It
>>>> may go up soon.
>>>>
>>>> Los Angeles Times
>>>> January 22, 2008
>>>>
>>>> The middlemen who buy and sell fuel on the wholesale market have seen
>>>> Los Angeles gasoline prices plunge more than 50 cents in the last two >>>> weeks.
>>>>
>>>> Too bad drivers aren't seeing the full benefit at the pump.
>>>>
>>>> On Friday, the most recent trading day, the wholesale gasoline price in
>>>> Los Angeles hovered around $2.17 a gallon -- a figure roughly equal to
>>>> a retail price of $2.77 a gallon after taxes and other costs were >>>> included.
>>>>
>>>>formatting link>>
>>> I don't know if you noticed, but the price of crude oil and the price of
>>> gasoline in a particular market are two different things.
>>>
>>> Jeff
>>
>>
>> True, but sometimes, their prices move almost in unison, including
>> downward. If the price of gasoline goes down shortly after the price of
>> crude, that pretty much eliminates any excuses like "not enough refining
>> capacity" when prices go up.
>
> My observation is that prices rise real fast when oil goes up, but doesn't
> fall as fast when the oil goes down.
>
> There is no excuse or need for one. The oil companies are making money by
> selling a commodity product at a good profit. It's the American way. If
> you could sell gas at $3.05 or $2.77, which would you do? The oil
> companies have no apologies for selling gas at the market rate. Go > ExxonMobil.
>
> Jeff