The Gasoline Blues

[Tim McG]

I'm not saying they are working together or that speculators are on the oil company payroll [though I wouldn't be surprised...remember the insider trading scandal of a few years back and today's mortgage investment/loan scandal; it is possible].

What I am saying is they would not speculate on anything that wasn't needed, being bought or could be resold at unchecked prices. That is how they are undeniably linked.

Why speculate on something nobody has a use for later?

Speculators trade whatever is moving good. The more "action" in an investment, the more speculators get attracted to it. Speculators are therefore exaggerating the price on oil right now. I don't see what this has to do with the oil companies. Nobody likes overvolatile prices. I doubt the oil companies do either. It makes it harder to budget and come up with reasonable quarterly goals. Screws up planning, basically.

There is a role that speculators play, btw. They help create a more efficient pricing mechanism and provide market liquidity. Nevertheless, prices overshoot, and that's what has been happening.

Makes good sense.

I would compare that to flipping or spec'ing houses.

All I'm saying is speculators won't trade what won't sell. Oil sells and is needed. Hence, it works well for them. Sucks for the rest of us.

What is has to do with the oil companies is they get to further jusify that new spike in cost at the pump AND they have a made-to-order scapegoat to blame it on.

Edited July 3, 2008 by GoodSpeak

[Shawn]

Late last week regular unleaded was $3.93 a gallon here, last night on my way home I noticed many stations were selling it at $3.75 a gallon.

[7/4]

My station has been $3.79 for a few weeks. If it went up or down, I didn't notice.

.

[zen archer]

Yesterday we bought gas for $3.85 that is the cheapest i have seen it in a very long time.

[Jim Alfredson]

I paid $3.65 in Pennsylvania on the way back home.

[Joe G]

$3.72 at the Admiral this morning.

[Shawn]

I know it's just a drop in the bucket...but 18 cents a gallon less feels pretty damn good.

[medjuck]

When there's a Republican administration oil prices tend to go down as elections approach.

[Quincy]

$4.23 in Eugene OR. But that's less than it was. Glad I only drive about 3000 miles a year.

[sidewinder]

Dropped by 5-6p a litre over here during the past few days. A bargain !

[BillF]

British Labour Party Members of Parliament called today for a windfall tax on oil companies in view of their massive profits in the present situation.

[7/4]

I just got back from taking care of a few chores...it looks like it went up 10c overnight to $3.89.

.

[porcy62]

Just in case you're worry, our PM Berlusconi launched the proposal that the consumer states should meet to fix the price of oil.

http://uk.reuters.com/article/oilRpt/idUKPAB00419520080713

So take it easy.

I am thinkin' that we at organissimo could fix the original BN vinyl price, otherwise we could go for the cd version.

Man, it's an hard job to find the funny side of my country.

[sidewinder]

Just in case you're worry, our PM Berlusconi launched the proposal that the consumer states should meet to fix the price of oil.

Not required ! The 'Broon' has already been over to the Gulf and had some hard words with the Saudis etc. and they immediately capitulated reduced their prices to the UK in response.

And Blue Note original vinyls are now hereby fixed at £2.99 each.

[BERIGAN]

When there's a Republican administration oil prices tend to go down as elections approach.

Is there no end to their evil ????

[Jazzmoose]

$4.23 in Eugene OR. But that's less than it was. Glad I only drive about 3000 miles a year.

Same here in La Grande. Um...unfortunately only the first part; commuting 20 miles each way five times a week hurts like hell!

[sidewinder]

Filled up at 110p a litre this afternoon. But the next gas station I passed was 116.9p..

[Shawn]

Price Of Gas Rises To Four Expletives Per Gallon

HOUSTON—Gasoline prices rose to a record-high four expletives per gallon Monday, a rate of fuel-price-related cursing not seen since the 1979 energy crisis sparked a nationwide obscenity boom. "Two years ago it seemed impossible that a gallon of gasoline would go as high as goddamn-shit-ass-balls," said commodities trader Philip Roan, adding that refined petroleum is up nearly 100 percent from cock-fuck last March. "Considering the unrest in the Middle East and growing global energy demands, fuel prices may well reach dick-ass-Christ-fuck-hell in as little as six months." The unprecedented jump in swearing rates has reportedly prompted an increase in the number of Americans riding motherfucking bicycles.

Edited August 6, 2008 by Shawn

[sidewinder]

Seems to have dropped a few more pence a litre here - almost afordable . Of course, the corporate morons on the main roads are all back racing to work at 80-90mph as if the gas crunch had never happened.

[BFrank]

[AndrewHill]

Was down to $3.50 at my local BP.

[7/4]

Was down to $3.50 at my local BP.

That's impressive!

I saw 3.65 a few hours ago and that was about a mile or so from the Bayway Refinery here in NJ.

.

[BFrank]

about $4.25 here ...

[7/4]

hittin' 3.52 here!

.

[Tim McG]

$4.59 here.

And no, you can't have our Coastline.