Were there no Middle East conflicts from 1976-2000 (No Iran-Iraq war & no Soviet occupation of Afgan)
No hurricans at all from 1976-2000? Wow!!!
All the oil refineries did not had a single problem from 1976-2000? Can we look at the records?
2007-09-09 17:38:22 · 15 answers · asked by Anonymous in Politics & Government ➔ Politics
I ACTUALLy predicted that jump. I predicted that gas prices would drop right before the election and go back up after.
and it happened just like I said. Some will say its becasue of supply and demand.
I know it was because they were trying to manipulate voters into being less angry about high gas prices.
There is no greater proof that high gas prices are manipulated and we are being gouged.
2007-09-09 17:41:48 · answer #1 · answered by me 3 · 3⤊ 2⤋
Gas prices, like many commodities, are based on the futures market, which is greatly affected by speculation. Speculation in the futures market works like this
1 I say I will be 10,000 barrels of oil on Dec 1 at $ 70 a barrel
2 An oil producer agrees because he thinks the price will be less than that.
3 On Dec 1, if the price of oil is lower than $70 a barrel, I make money! To cover the loss, the producer raises the price on all his fluctuating barrels. (meaning barrels that are being sold at an unfixed price) Then whoever is buying the oil, such as a refinery that is making gasoline, has to raise their turn around prices to still make a profit.
4 Or on Dec 1, the price is above $70 a barrel and I lose money. (and the producer is happy because I still have to buy oil that when I sell, I will lose money on)
Note: It is assumed speculators don't hang on to their speculations for more time then it takes to sell them.
2007-09-10 01:56:50 · answer #2 · answered by Anonymous · 0⤊ 0⤋
The economy is not "real Bad"!
There are a lot of factors for the oil prices.
1} Traders that perceive things to happen in the future that will affect oil production, raise the futures of oil.
2}old and slow oil refineries that are unable to keep up with the demand.
2007-09-10 00:50:25 · answer #3 · answered by lynne f 3 · 1⤊ 0⤋
Gas prices were hardly $1.90 in October of 2006. Rising Demand from a growing population, coupled with no increase in our refrining capacity is the main reason for the price increase. Foriegn wars endanger the suppy transport and production so they are obviously going to raise prices. Among other things
Oh and your prices from 1976 are not adjusted for inflation!!!!
2007-09-10 00:52:54 · answer #4 · answered by asmith1022_2006 5 · 0⤊ 1⤋
It is a very good question!
Lets look at it pragmatically:
The cause and effect route should take into account THE DEMAND FOR OIL, THE SUPPLY SITUATION ie DOMESTIC AS WELL AS INTERNATIONAL, THE GROWTH IN POPULATION OVER THE SAME PERIOD OF TIME, THE GROWTH IN NUMBER OF CARS ON ROAD, THE INTERNATIONAL SECURITY SITUATION, NON-GULF OIL- SUPPLYING COUNTRIES' POLITICAL AND SECURITY AND MANIPULABILITY POTENTIAL, CURRENCY MARKETS, BALANCE OF TRADE POSITIONS, MEDIA-RATINGS OF VARIOUS LEADERS, THE DEBATE WHETHER OIL AS A COMMODITY IS ELASTIC OR INELASTIC BY NATURE, WEATHER CONDITIONS ALL OVER THE WORLD, GLOBAL-WARMING, NATO AND RELATED ISSUES, CONSUMPTION FIGURES FOR THE Nth QUARTER OF THE Xth YEAR FOR THE Y BASKET OF GOODS, THE WORLD SUMMIT IN DAVOS, THE GREEN HOUSE GASES EMISSION DETAILS, THE HUMAN RIGHT'S VIOLATION IN CHINA VIS-A-VIS THE BALANCE OF PAYMENT SITUATION IN CHINA, PROPERTY PRICES IN THE US, AND THE EMOTIONAL QUOTIENT OF THE WORLD LEADERS RATHER THAN THEIR IQ!!!!!!!!!!!!!
ALL THESE FACTORS AFFECT THE OIL PRICES! SO ONE HAS TO STUDY EACH AND EVRY PARAMATER IN DETAIL FOR THE PERIOD FOR WHICH THE OIL PRICES HAVE NOT CHANGED ie 1976 TO 2000. THE NET EFFECT OF ALL THESE FACTORS FOR THIS PERIOD IS ZERO AND HENCE THE OIL PRICES DID NOT CHANGE.
STOCK-MARKET ANALYSTS AND ECONOMISTS FROM VARIOUS STOCK BROKERAGE FIRMS' OPINION HAS TO BE FACTORED IN AS WELL!!!
ONE MORE POSSIBLE REASON COULD BE MANIPULATION!!!!
2007-09-10 01:16:49 · answer #5 · answered by devotee 2 · 0⤊ 0⤋
I would be interested to see the source for your data. Crude oil prices jumped significantly from1973 peaking in 1981 before falling for most of the next 15 years.
http://en.wikipedia.org/wiki/Image:Oil_Prices_1861_2006.jpg
2007-09-10 01:20:54 · answer #6 · answered by Sageandscholar 7 · 0⤊ 0⤋
Well, if you really want to know, the economy is bad. Really bad. They're not telling us everything on the news. But, you have to look at what's happening right outside your front door in your city, and try to look at the bigger picture. 1976-96? 40 cents. 2004 to 2007? A dollar and ten cents. It's getting bad, and they're not going to tell us until the world is literally falling down right around our ears.
2007-09-10 00:45:10 · answer #7 · answered by Jamar M 2 · 2⤊ 2⤋
probably global demand rose, like China but thats too much of a change in such short time...I'm sure the use of fuel in the military affected demand, I think your forgetting inflation and the value of the dollar when it comes to oil trade.
dont know, some executives wanted new sportfish yachts
2007-09-10 00:42:50 · answer #8 · answered by Petey V3.3 3 · 3⤊ 0⤋
Well, from 1962 (Gas was .28 cents per gallon) to the year 1975 (Gas was .50 cents a gallon) gas increased only .22 cents per gallon. Now we get .22 cents increase in 5 days. How can that be?
2007-09-10 00:48:41 · answer #9 · answered by Anonymous · 3⤊ 1⤋
because in the 70's, the floor oil traders were all WWII vets, real men who didn't scare easy. now all the floor traders are pansy assed sissys who never had so much as a fist fight in prep school. they panic like little girls every time someone farts in the middle east
2007-09-10 01:58:32 · answer #10 · answered by iberius 4 · 0⤊ 1⤋