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10/20/2017 1:01:18 AM
9/22/2017 12:11:25 AM
Posted: 8/13/2005 3:24:48 PM EDT
The oil you see traded is unrefined oil. In other words, it has never been through a refinery. If a refinery bottleneck was the problem, you'd see the prices for gasoline, diesel, and heating oil going up and crude oil prices staying the same.

The problem is not refineries.

Imagine you were talking about wood and chairs. Hey, did you see the price of wood went up? Must be because there haven't been any new chair factories built in 20 years.

Same thing.

http://money.cnn.com/markets/commodities/
Link Posted: 8/13/2005 3:26:22 PM EDT
actually I think all the TROLLs artificially inflate the price of crude
Link Posted: 8/13/2005 3:41:04 PM EDT
Please don't stop buying gas and oil !!! The oil barons are starving in the streets !!! Think of their children !!
Link Posted: 8/13/2005 3:47:25 PM EDT
China is squeezing our balls by buying up oil with all their American money. Anything that slows us down is good for them. It's part of their "Total War" doctrine.
Link Posted: 8/13/2005 3:53:56 PM EDT

Originally Posted By Da_Bunny:
China is squeezing our balls by buying up oil with all their American money.


Even though their demand for oil as decreased?

Why is it that some people blame everybody except the culprit: Big Oil. Oil futures investors are pushing the prices artificially beyond supply & demand.
Link Posted: 8/13/2005 4:02:39 PM EDT
Link Posted: 8/13/2005 4:10:18 PM EDT

Originally Posted By Kroagnon:

Originally Posted By Da_Bunny:
China is squeezing our balls by buying up oil with all their American money.


Even though their demand for oil as decreased?

Why is it that some people blame everybody except the culprit: Big Oil. Oil futures investors are pushing the prices artificially beyond supply & demand.



It's not Big Oil's fault either. It's your fault.

In May, the price of oil had hit a new record. For the same month, oil consumption also increased. Why? Because people still bought gas for their cars.

If you're really serious about cutting oil prices, stop using it.
Link Posted: 8/13/2005 4:11:43 PM EDT
It's speculation plain and simple.

OPEC is producing more oil now than anytime since 1979. As others noted, China's demand had decreased. Everything should point to crude oil prices being lower because you're right refineries shouldn't have anything to do with crude oil. So why the increase? Because people will use any excuse to buy oil. Speculators who don't normally invest in oil buy oil on any bad news concerning oil and gas and hope that the price will increase so they can make a profit. So events that shouldn't raise the price of oil do simply because it effects the way people perceive the situation.
Link Posted: 8/13/2005 4:13:42 PM EDT
Link Posted: 8/13/2005 4:18:07 PM EDT

Originally Posted By DoubleFeed:
Who's going to be the John Galt that puts an alt fuel car on the road?



Its coming.
Link Posted: 8/13/2005 4:19:12 PM EDT

Originally Posted By The_Beer_Slayer:

Originally Posted By Kroagnon:

Originally Posted By Da_Bunny:
China is squeezing our balls by buying up oil with all their American money.


Even though their demand for oil as decreased?

Why is it that some people blame everybody except the culprit: Big Oil. Oil futures investors are pushing the prices artificially beyond supply & demand.



i don't know what the problem is but if thats true and can be proven it's damn near time for armed revolt while i can still afford to drive there.



Chinese oil consumption in the 2nd quarter dropped 1% compared to the same quarter last year.
Link Posted: 8/13/2005 4:37:46 PM EDT
[Last Edit: 8/13/2005 4:39:19 PM EDT by GeorgeInNePa]

Originally Posted By Kroagnon:

Originally Posted By Da_Bunny:
China is squeezing our balls by buying up oil with all their American money.


Even though their demand for oil as decreased?

Why is it that some people blame everybody except the culprit: Big Oil. Oil futures investors are pushing the prices artificially beyond supply & demand.



+1

You almost never hear on the news the fact that the price per barrel is a FUTURES contract. The gamblers are pushing the price.
Link Posted: 8/13/2005 4:52:54 PM EDT
Link Posted: 8/13/2005 4:59:27 PM EDT

Originally Posted By Kroagnon:

Originally Posted By Da_Bunny:
China is squeezing our balls by buying up oil with all their American money.


Even though their demand for oil as decreased?

Why is it that some people blame everybody except the culprit: Big Oil. Oil futures investors are pushing the prices artificially beyond supply & demand.



Their overall demand has increased in the past few years, along with other markets as well. It's like the electrical "shortage". People are paying high prices to secure a steady supply. It's being manipulated, that's for certain, but then, it always has been.
Link Posted: 8/13/2005 5:02:41 PM EDT

Originally Posted By Kroagnon:

Originally Posted By Da_Bunny:
China is squeezing our balls by buying up oil with all their American money.


Even though their demand for oil as decreased?

Why is it that some people blame everybody except the culprit: Big Oil. Oil futures investors are pushing the prices artificially beyond supply & demand.



You are implying that a corner on the market is being attempted.

Nothing can corner any market. They'll get their ass handed to them in the end.
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