Experts tell congress how to lower gas prices

ib1yysguy said:
They've already got plots in the Gulf they haven't even touched and we're wanting to give them more for some reason.

DEMAND is clearly not the issue. I've not seen more than two totally full gas stations in the last year, and that's probably below normal.
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That has to be almost as bad as toppy's..."but the mall I went to was full" example of the economy being great back in November.

Only an idiot would believe that global demand hasn't continued to escalate dramatically over the past decade. With the ever increasing demand from continually urbanizing China and India (not to mention our own continued increases) DEMAND is most certainly an issue.

It is the future expected increases in DEMAND that is driving speculation to push spot prices beyond current fair value. Changes to future supply expectations would alter that perception and would provide support for a more bearish position on oil and nat gas.
 
Superfreak said:
That has to be almost as bad as toppy's..."but the mall I went to was full" example of the economy being great back in November.

Only an idiot would believe that global demand hasn't continued to escalate dramatically over the past decade. With the ever increasing demand from continually urbanizing China and India (not to mention our own continued increases) DEMAND is most certainly an issue.

It is the future expected increases in DEMAND that is driving speculation to push spot prices beyond current fair value. Changes to future supply expectations would alter that perception and would provide support for a more bearish position on oil and nat gas.
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Over the last decade, sure. Over the last couple of years? No. The global demand has nearly flatlined yet prices have not. I don't know what else you need to know to realize that demand is not the most significant factor at play here.
 
ib1yysguy said:
Over the last decade, sure. Over the last couple of years? No. The global demand has nearly flatlined yet prices have not. I don't know what else you need to know to realize that demand is not the most significant factor at play here.
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Yep I would like to see an explanation of why the law of supply and demand no longer works.
Someone should go to jail for breaking the law of supply and demand.
The capitalist cops should nail em.
 
uscitizen said:
Yep I would like to see an explanation of why the law of supply and demand no longer works.
Someone should go to jail for breaking the law of supply and demand.
The capitalist cops should nail em.
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1) While he is correct that demand has only grown by 1-2% over the last few years, it has still outpaced supply.

2) The demand/supply equation is not based solely on TODAY. It also takes into account the FUTURE. If no new supply is expected and demand is expected to increase.... futures contracts will get pushed higher on the speculation of such a scenario.
 
Epicurus said:
Every day an average of around 1,500 new cars are registered in China.

http://www.theaustralian.news.com.au/story/0,25197,23897097-26017,00.html

Mr Ha said the world price was determined to a degree by China's pricing policy, because its fast-growing consumption was responsible for 40 per cent of the new global demand annually.

In the first quarter of this year, 1300 new cars were registered every day in Beijing alone.
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Impressive numbers unless you know the actual big picture - 1-2 percent growth in demand WORLDWIDE over the last several years does not translate into a doubling of gas prices at the pump. There is a larger factor at play, and all indications are that speculation is behind it.
 
ib1yysguy said:
Impressive numbers unless you know the actual big picture - 1-2 percent growth in demand WORLDWIDE over the last several years does not translate into a doubling of gas prices at the pump. There is a larger factor at play, and all indications are that speculation is behind it.
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You are forgetting the other half of the supply demand equation. It is not just that demand has increased, it is that supply has not increased at the same pace thus widening the gap.

Yes, there is without question speculation built in. About $40-45 per barrell right now. Why? Because the FUTURE supply/demand equation is expected to widen further. This is the reverse of what was happening in the late 90s, when oil was priced at a discount. Speculation has always been there. It is just that NOW it is being noticed because the speculation is now hurting the consumer in the short term rather than helping them as it was in the 1990's.
 
Epicurus said:
Every day an average of around 1,500 new cars are registered in China.

http://www.theaustralian.news.com.au/story/0,25197,23897097-26017,00.html

Mr Ha said the world price was determined to a degree by China's pricing policy, because its fast-growing consumption was responsible for 40 per cent of the new global demand annually.

In the first quarter of this year, 1300 new cars were registered every day in Beijing alone.
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yeah and thousands of new cars are registered daily in the USA too.
But our gasoline demand has been pretty much flat for the last year.
 
Desh said:
We need off the oil tit.

Renewable resources is what will keep us from having to cow tow to any penny ante dictator who has an oil field.

We dont need to further rape our own country by drilling everyfucking were no matter what other economic sectors it ruins.

We need to bering the hammer back down on the unregulated speculation First and formost.
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The first thing we need is off the foreign oil teat. We need to focus on that while working towards renewable sources of energy and replacing carbon based energy with other sources.

It is inane to pretend that demand for oil in the US will not continue for decades even if an alternate source was found tomorrow. Instead of continuing to buy from foreign sources it is time to focus on removing ourselves from the foreign teat.
 
UFOs and other life in the universe are two different things to lots of people.


Here's the solution to the gas crisis....ride a bike or find a time machine/UFO, go into the future and steal a futuristic car.
 
I have seen UFO's, I figure they are airplanes, but since I am not positive they are Unidentified to me.

also I think it is extreme arrogance to think we are the only life in the universe.
But why an advanced life form would want to visit this messed up palce is beyond me. food source maybe ?
 
Superfreak said:
70%????? Really??? Got a link to that stat?
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We must be able to find some official number but I found this...

"The United States still accounts for 25 percent of world oil consumption"

http://www.cato.org/pub_display.php?pub_id=3947

Edit: I don't who this group is but they sound envirnomental...

"The United States continued unchallenged as the world’s single largest oil-consuming nation in 2007, using almost one fourth of the global total at a rate of 20.7 million barrels daily."

http://www.worldwatch.org/node/5666
 
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