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Gadhafi's son complicit with the market?
by
Quantum TD
on 24 Feb, 2011 13:47
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So, last Satruday, I hear the news about Libya. On Sunday, I read a comment from Gadhafi's son where he's quoted as saying "It will be civil war. The oil fields will burn at the hands of insurgents" (paraphrased). I told my girlfriend to fill up her car as soon as possible, because that's all the a$$hole oil speculators needed to hear to start dumping money into oil stocks. She filled up on Monday at $3.45/gal for diesel. On Tuesday prices shot up. Today they're at $3.60-3.75/gal for diesel here in TN, and expected to rise more.
On NPR on Monday, they read a quote from a dissertation from a PhD at a London school. Anyways, it was from a PhD in Economics by Qaddafi's son. Yeah, he has a PhD in economics from the London School of Economics. You don't think he's trying to pad the family coffers by stirring up $hit in the economy? How long has the recent unrest in that region of the world been going on? Have fuel prices increased much (if at all) during this process? Suddenly, some rag-head says "Oil fields will burn" and every douche-bag speculator on the market goes clamoring for oil futures.
Whoever said that prices were supply and demand had their head up their a$$. It's all ideological. The market isn't controlled by supply and demand. It's controlled by FEAR. Fear that you won't be able to consume something that you once thought you could. Fear that someone else will make money and you'll be standing there.
Gotta love human nature.
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#1
by
theman53
on 24 Feb, 2011 14:48
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Last I checked the middle east has been in unrest since Jacob and Esau...probably before.
3.759/gallon diesel here. Yesterday I could have gotten it .30 per gallon cheaper. They will probably lower it and then take it back up slowly, so people don't notice as bad.
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#2
by
erice1984
on 24 Feb, 2011 15:43
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some places here still at 3.49 most are 3.75
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#3
by
Quantum TD
on 24 Feb, 2011 16:47
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Last I checked the middle east has been in unrest since Jacob and Esau...probably before.
3.759/gallon diesel here. Yesterday I could have gotten it .30 per gallon cheaper. They will probably lower it and then take it back up slowly, so people don't notice as bad.
That's true. It's just "grades" of violence. Like hemorrhoids, they're always simmering, but sometimes they flare up.. How can people of the same race and religion want to kill each-other so badly? At the end of the day, they're just fighting over some really crappy real estate.
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#4
by
mystery3
on 24 Feb, 2011 16:59
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I resent your racist attitude but the oil market is a monopoly run by a few cartels which are in collusion with one another, so the theory of supply and demand does not apply in this case.
BTW saw diesel as high as $4.19/gal this morning on the way to work.
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#5
by
Dakotakid
on 24 Feb, 2011 17:39
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Wow, man.....every time I fill up from now on, I will be thinking about having a burning "bunk!" I'll put a towel on the seat....just in case....
Tonight, it was said that OPEC will step in and freeze oil at about $100/barrel. Not sure we can count on this though.
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#6
by
8v-of-fury
on 24 Feb, 2011 19:45
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stop your whining.. we have been paying $4.15+/g where I am for the last 5 years
Wanna know what I pay for diesel right now.. $5.25/g
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#7
by
theman53
on 24 Feb, 2011 19:47
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the only way opec will freeze it is if they think it will come back down. That way they gaurantee higher prices a little longer.
We should raise the cost of food equally
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#8
by
mystery3
on 24 Feb, 2011 19:49
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Wanna know what I pay for diesel right now.. $5.25/g
A couple years ago I would have said yeah but that's Canadian dollars but I think you guys are up about 5% right now against the USD.
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#9
by
mystery3
on 24 Feb, 2011 19:50
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the only way opec will freeze it is if they think it will come back down. That way they gaurantee higher prices a little longer.
We should raise the cost of food equally
Or we can convert the food into ethanol and burn it in our gas tanks instead, or SVO etc?
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#10
by
theman53
on 24 Feb, 2011 20:00
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the only way opec will freeze it is if they think it will come back down. That way they gaurantee higher prices a little longer.
We should raise the cost of food equally
Or we can convert the food into ethanol and burn it in our gas tanks instead, or SVO etc?
No, really I would rather see which one is more important. Us getting oil or others getting food. I say this with a smirk as I am only 1/2 joking. I am all for others to make a profit on something they have...just the same I am all for making a profit if I have something someone else wants. My problem is when it is a one way street.
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#11
by
8v-of-fury
on 24 Feb, 2011 20:04
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I think we are above the USD at closing today.. 1 CDN = .98 USD or something
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#12
by
Quantum TD
on 24 Feb, 2011 20:15
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I resent your racist attitude but the oil market is a monopoly run by a few cartels which are in collusion with one another, so the theory of supply and demand does not apply in this case.
I didn't say ALL people in the middle east wear rags on their heads. But enough of them do to warrant a generalization. No?
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#13
by
Vincent Waldon
on 24 Feb, 2011 20:22
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Hows about we 86 the racial profiling...thanks.
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#14
by
maxfax
on 24 Feb, 2011 20:58
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Just think of it this way, every time the price goes up at the pump, so do the values of our cars.
