Oil Gains as Supplies Decline More Than Expected

Oil New Highs after unexpected Supply Decline - BS!!!

www.businessweek.com

Oil traded near the highest close since May after U.S. stockpiles dropped to the lowest in four months and China signaled it may take more steps to boost growth in the world’s second-biggest economy.

(visit the link for the full news article)

I am so sick and tired of the current trend that has seemed to be going on for a couple of years now where Oil prices increase even though the so called Global Economy decreases at the rate it is but for some reason inventories are decreasing.

A pipe needing repaired here, a crazy fire there, a sudden inclination of Economic Stimulus here, etc. All the while the Oil rich countries that keep reaping the benefits from Wars (Multiple wars over the last 15+ years) and fires Increase there Oil Profits. Not counting the Contracts that our Oil Companies all of a sudden have because of these Wars.

Had to Vent, sorry. Cant help it. Last week the reason was the Chevron fire, now all of a sudden its China and a so called Stimulus package.

I am sick of it!!!

www.businessweek.com
(visit the link for the full news article)

reply to post by hoochymama


Oil has no set price. The price is random, and not truly influenced by any event. Big Oil company spokespeople have already admitted it, so I don't know why they continue with this charade.

Short story---relevant. 4 gas stations in my little town. BP is one of them. They all mimic the gas price of the others. If one drops 10 cents, the others follow suit so they don't lose business. One week, BP spiked their prices 30 cents/gallon in the evening. The others didn't follow suit. By the next morning, they had dropped back down to the original price. They did it again two days later, 25 cents this time. The others increased by 10 cents. The next day BP lowered it 15 cents to match them.

The price could be double, it could be half of its current price. They choose an arbitrary number. Don't you wonder why one town bordering the other could cost 20 or 30 cents more, and only be separated by 2 miles?

reply to post by psuxavier
The price of Oil has direct relation to the price of Gas at the pump. Otherwise we wouldn't pay the amount we do now. I am sure it also has something to do with the value of our Dollar as well. But combine the two and you get an increase from $1.15 a gallon to $3.00 to $4.00. Now, the question is how come the price doesnt fluctuate from $1.15 to $2.00 but jumps to $5.00, comes down to $3.00 (wow) and now HOVERS that price for years.

The fires. The small Wars. The "Stimulus". Etc.

Originally posted by hoochymama

Had to Vent, sorry. Cant help it. Last week the reason was the Chevron fire, now all of a sudden its China and a so called Stimulus package.

I am sick of it!!!

Don't apologize!!! More people need to call out the elite on their BS. Great op and posts, S&F!

Iran this, Syria there.
Yeah right.. unexpected decline.
Kids gonna get oranges and apples for xmas this year I swear.

reply to post by eagleeye2
Maybe a little Coal in the stocking might not be a bad idea this Christmas. Or a 50 gallon drum. Juss sayen.

reply to post by hoochymama


News flash.

The oil markets are the most controlled of markets on the planet qith supply and demand have zero to do with pricing.

Other than that hyooge kerplunk of an error, great thread.

reply to post by hoochymama

I hear ya OP. you know what I am so sick of, the cock and bull stories people throw down on why its the way it is. Like they dont care because they either dont consume it or they are buying it on speculation of going higher.

OP I hear ya,OIL isnt a dirty 3 letter word, there are no shortages other that man made and its now really clear it doesnt run out. So tired of hearing about "We have to get off the dependency of oil this and that"

Here is another one, the Arab countries subsidize the price of oil at the pump of its consumers. what do they pay 16 cents a liter?

so so sick of it.

in the uk where i live a gallon of petrol is $11 ? i remember about the year 2000 that a barrel of oil was $30 then over night the cost of oil & housing more than trebled the banks did well on this as do pension funds which manipulate the price of oil

Originally posted by WhamBam
reply to post by hoochymama

 

News flash.

The oil markets are the most controlled of markets on the planet qith supply and demand have zero to do with pricing.

Other than that hyooge kerplunk of an error, great thread.

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This.

All these rumors are started by speculators with the backing of the oil industry execs who often invest in speculating. The stockholders of the corporations make peanuts compared to the speculators. Speculators rarely lose money either, they control everything.

I have a 6 cylinder truck, maybe 15 miles a gallon and costs like $85 to fill up.

Its pathetic!!!! Here we are with quantum computers, A.I., and smartphones that are practically mini computers in our palms and were still required to use ancient 100 year old technology that no one has changed in the last 100 years?

Give me a break!!!!!!! Quantum frickin computer is here and were pumping gas still. It boggles the mind