A major holiday and increased consumption, yet the prices fall. Oh yeah, it is also election time. Name one other high travel holiday where the "increased demand" didn't drive prices up? Still think politics and oil aren't linked? Demand has NOTHING to do with the current oil prices. It is all about money and politics. The current administration wants re-election. Disagree?
2006-09-05 17:03:45 · 18 answers · asked by ? 4 in Cars & Transportation ➔ Commuting
WASHINGTON (AP) -- Move over, Alaska. Geoscientists have made what may be the nation's largest oil discovery off the coasts of Louisiana and Texas.
It could be the biggest domestic oil find in 38 years, but production is years away, and even then it won't reverse America's growing reliance on imports or have any meaningful effect at the gasoline pump.
Thank you for the link but it says first, production is years away and that it will have little effect. In other words this discovery has nothing to do with current gas prices.
2006-09-07 11:20:28 · update #1
wow- are you un-frozen caveman poster?
sounds like you just climbed out of a time-capsule and said - "aha!! i know what is the problem here!" just kidding i'm sarcastic tonight. and cetainly i'm not funny and neither is this situation.
did you know that in venezuela they fill up their cars with gas for less than it costs to buy breakfast? not that their society is doing soooo wonderful otherwise, but gas ain't scarce.
everything you ever thought about politics is nonsense. wars are soo systematic and obvious in intent it amazes me there's still people who want to fight on the front line.
it's like saying "yeah! hey, i would LOVE to be a pawn!"
pawns get to shoot lots of other pawns. and then they all fall over and all thats left is the king or queen or bush.
and the winner gets more oil.
2006-09-05 17:17:43 · answer #1 · answered by sparkloom 3 · 0⤊ 0⤋
First and foremost, I'd like to point out that Exxon / Mobile profits are obscene!
Not only can I not name another high travel holiday that did or didn't increase gas prices, the only time I can even relate to a true supply and demand situation is way back in the early 70's - and even that "shortage" disappeared immediately when prices went clean off the chart - and demand didn't change?????
I remember the term "inelastic" concerning prices from economic classes I took a hundred years ago - it simply means that when a particular product demand isn't influenced by the price of the product - the supplier will inevitably stick it to you!
I don't really know if it's politics (I would sooner expect this correlation of prices and elections to take place in 2008) or just plain old fashioned greed - either way, we're definitely on the receiving end of this economic screwing!
2006-09-05 17:22:22 · answer #2 · answered by LeAnne 7 · 0⤊ 0⤋
Both Dem's and Reps want re election and they both have their bit fat as...sitting in the oil up to their necks. They are a bit like Ho's they will do anything for a twenty.
The reason prices could go down is supply and demand, and the reason why they...meaning the oil Barron's could raise the gasoline prices is because our wonderful environmentalist lobbied congress and got laws passed forbidden the construction and building of new refineries,...thus although we had the oil on hand, we CAN NOT make it into gas at a reasonable cost. If you wish to pin the tail on the donkey, try our new god of all mother earth.....environment ism and oil.
Oh and then there are the libs...that complain that we Americans don't pay enough for a gallon of gas...why the comparison is with th EU...so..there is another reason, to lower our standard of living, through our not being able to drive and have free commerce due to higher and higher gas prices...just like the EU and Eastern Euros....bless our Congress.
2006-09-05 17:16:12 · answer #3 · answered by kickinupfunf 6 · 0⤊ 0⤋
Disagree!! It's really not difficult to understand the whole thing. The main reason the gas prices have come down is because the refineries on the Gulf Coast are finally coming back on line after being off line since Katrina hit last year. When the refineries went off line, the prices went up. Obviously, when the refineries come back on line it would seem to be common sense to expect the opposite to occur. Waddya know....it did!! Simple supply and demand. Nothing sinister about that!! Just good old Econ 101!!
2006-09-05 18:05:26 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Prices are falling for two reasons:
A) Labor Day marks the end of the summer driving season. Barring some catasrophic event, prices are generally higher during the summer than at any other time of the year because more people are driving and drive longer distances. It's simple supply and demand.
B) Oil platforms damaged by Hurricanes Katrina and Rita and coming back online, one by one. The more oil that comes in, the more prices fall.
2006-09-05 18:49:26 · answer #5 · answered by brotherb95 3 · 0⤊ 0⤋
Good point. Tell me when things like resources were NOT part of any political agenda??? Look, we are in this tight spot in the most part from our own doing. One side tries to do the right thing by protecting the environment we live in. They go too far. The other side tries to keep a steady economy by political negotiation and tariff/tax re-arrangement. They go too far. So now we are dependent on others for what is currently a PRIMARY fuel source and are at their mercy ( ie OPEC). All concerned need to work together to help resolve our current situation. Oh, yes, the supply and demand structure does work. What you are seeing is the supply affected by politics not the demand.
2006-09-06 04:47:41 · answer #6 · answered by sbhutchi 1 · 0⤊ 0⤋
It is strange that with so many people driving because of airline scares on one of the biggest driving holidays of the year that gas prices went down. However, when you realize that gas prices have more to do with the speculative oil market than with demand, it all starts to make sense.
2006-09-05 17:11:53 · answer #7 · answered by Anonymous · 0⤊ 0⤋
you are a wise man my friend!!! too bad others cant put two and two together. Ive been telling everyone for months that right before the elections gas prices would fall and we would have an increased terror alert. well gas is dropping and bush is considering raising the terror threat level!!! right on cue!!! oh and for the person that says bush cannot run?? wow you are a genius. its congress that's running. and bush knows that if his republican controlled congress gets booted out then he will be a lame duck for the next two years.
2006-09-05 21:53:26 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Come on, if you'd pay attention, EVERY YEAR something like this happens.
Prices go up, prices go down.
I'd imagine prices will go up again, and it will have nothing to do with elections. Every fall they go up, and refineries always blame it on having to produce "winter blends."
Watch in the spring for prices to go up again. The co's that produce gasoline will blame it on the "summer blends" they have to make.
It's not necessarily politicians only at fault... it's the durn environmental guidelines that insist on these different "blends" that NOBODY can explain.
2006-09-05 17:14:19 · answer #9 · answered by Anonymous · 0⤊ 0⤋
I agree, but no hurricanes as speculators hope for, end of summer driving, election year, all added up to lower prices. Thank god!
2006-09-06 15:02:11 · answer #10 · answered by randyrich 5 · 0⤊ 0⤋