For all you idiots on Oil Prices

This jarod dude is a retard.

Jarod, prices are up because supply is short.

You see, when the price dropped(due to lowered demand), suppliers cut production, and the supply dwindles to meet the reduced demand, and prices shoot up as the the commodity becomes more scarce.

Fucking pick up an econ101 book, idiot
 
Jarod said:
Why are gas prices up while demand is still so low?
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Jarod... if you don't understand the machinations of the oil industry, perhaps it is unwise to call others 'idiots'.

OPEC has been cutting supply of oil over the past year to increase the price back towards the $80 range from the $60 range. Saudi is a good example... it has cut roughly 25% (from the last time I looked) of its production in the past year.

So do us all a favor, if you refuse to educate yourself on the topic, please refrain from calling others 'idiots' as it simply makes you look even more ignorant than you normally do.
 
THats always been my point, supply is manipulated by insiders to control price. They make it go up in the summer and down in the winter. Its not based on how much available oil is out there.
 
Topspin said:
Somebody shoot Jarod. All industries adjust supply and demand to price. Ya retard
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Thats what Ive been saying, the price of oil is set by insiders to be as high as the consumer will accept, it does not have anything to do with how much oil is out there.....

The price is manipulated by man to get as much as the consumer will agree to, not based on how much you can gain access to.
 
Folks, I think Jarod is trying to say drilling and producing more oil (like a lot of us want to) won't make the price come down. I that it Jarod? At least that's what I am getting between the lines.
 
leaningright said:
Folks, I think Jarod is trying to say drilling and producing more oil (like a lot of us want to) won't make the price come down. I that it Jarod? At least that's what I am getting between the lines.
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Thats part of it, What I am saying is that the price of oil has MUCH more to do with what the people will stomach than with how much is available. They jack the price up to the point where people will stop using it, then they back off.

Its not about supply and demand, the supply and demand cost of oil is VERY low, if a monopoly did not control the supply.
 
Jarod said:
Thats part of it, What I am saying is that the price of oil has MUCH more to do with what the people will stomach than with how much is available. They jack the price up to the point where people will stop using it, then they back off.

Its not about supply and demand, the supply and demand cost of oil is VERY low, if a monopoly did not control the supply.
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imo, this would change if america produced more of our own oil instead of being slaved to the ME oil a la opec....we need to open up alaska
 
Yurt said:
imo, this would change if america produced more of our own oil instead of being slaved to the ME oil a la opec....we need to open up alaska
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I kind of agree here but it really doesn't matter to me. I would gladly pay more for a gallon of gasoline if it were produced solely in America. I already pay more for certain things that I can get that are made in the USA and eschew buying cheaper foreign made things. I can't do it all the time. It is really difficult to find things made solely in the US. But I try.

The only foreign car I have ever bought was a Datsun (that tell's you how long ago that was) that I bought off my friends mom for $500. I was coaching baseball at the time and wanted a cheap car that I didn't mind getting hit by a foul ball. Called it my rice rocket.
 
Jarod said:
Thats part of it, What I am saying is that the price of oil has MUCH more to do with what the people will stomach than with how much is available. They jack the price up to the point where people will stop using it, then they back off.

Its not about supply and demand, the supply and demand cost of oil is VERY low, if a monopoly did not control the supply.
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Dude this shows a complete lack of understanding down to the basic level.

1. There's no such thing as a "supply and demand cost".
2. If you meant the supply cost, you neglect all the other costs, such as R&D, refinement, transportation, and delivery. The profit margins of the major oil companies is very low compared with other products.
3. There are several oil companies delivering product, therefore there is no monopoly.
4. Although OPEC wishes to be a monopoly (and that form or business partnership is illegal in the US) their members haven't been able to "corner the market" since they were able to cooperate due to their universal hatred of Jimmy Carter.
 
Yurt said:
imo, this would change if america produced more of our own oil instead of being slaved to the ME oil a la opec....we need to open up alaska
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True, we would not be as reliant upon OPEC screwing with the price. We also would be able to use the taxes/royalties off of the production to fund alt/clean energy research and development. We would also be able to control the environmental standards of the oil being produced (obviously just referring to our own oil production and not magically controlling all oil production standards)
 
Southern Man said:
Dude this shows a complete lack of understanding down to the basic level.

1. There's no such thing as a "supply and demand cost".
2. If you meant the supply cost, you neglect all the other costs, such as R&D, refinement, transportation, and delivery. The profit margins of the major oil companies is very low compared with other products.
3. There are several oil companies delivering product, therefore there is no monopoly.
4. Although OPEC wishes to be a monopoly (and that form or business partnership is illegal in the US) their members haven't been able to "corner the market" since they were able to cooperate due to their universal hatred of Jimmy Carter.
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Idiot
 
Its not about where the oil is produced.... Its about alowing only a few to sell oil here in the United States.
 
Jarod said:
Its not about where the oil is produced.... Its about alowing only a few to sell oil here in the United States.
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You post ignorant shit like this... ONE post after calling someone ELSE and idiot?

Here is a little lesson for you Jarod... If we control MORE of the oil SUPPLY, the ability of others to manipulate the oil market diminishes. The amount it diminishes is directly correlated to how much we increase our own supply and decrease our own demand.

He who controls the spigot... controls the price (to a degree)
 
Other countries have way less stringent environmental standards. Why do deems want to pollute the world and deprive the US of thousands of well paying jobs. also keeping the money here would quickly balance the budget. Playa!
 
Topspin said:
Other countries have way less stringent environmental standards. Why do deems want to pollute the world and deprive the US of thousands of well paying jobs. also keeping the money here would quickly balance the budget. Playa!
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I don't know if it would balance the budget, not the way the idiots in DC (both parties) have been spending the past 10 years.... but otherwise you are correct.

You keep the jobs here, you keep the money here, you can control the environmental standards of oil produced here, you have the revenue from the wages earned by the employees here, you have the revenue from the royalties/taxes on the oil produced here....

Until we ween ourselves off of oil completely, it makes sense to produce as much of it ourselves as we can.
 
Royalties are generally 1/8th of revenue that's easily billions more. Lib- tards are objecting based on old tired 1970's politics only.
 
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