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post #1 of 16 Old 06-11-2009, 09:21 AM Thread Starter
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250.00 a barrel

Oil price leaps to year's high | Business | guardian.co.uk

I personally have a hard time seeing this. Supply and demand prinicples will kick in. If you can't afford it, and demand drops so should prices right? I guess speculators could cause havoc for awhile, but if they drive the prices up too high they will only end up burning themselves right? Of course this after they burn the rest of us.

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post #2 of 16 Old 06-11-2009, 09:26 AM
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I don't see it happening. My parents just went to their reunion planning meeting and about 1/2 of the folks there were laid off. How is demand going to be that high when so many people are out of work unless they shut down a bunch of rigs/refineries....

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post #3 of 16 Old 06-11-2009, 09:36 AM
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I believe it will happen, first it was hurricane Katrina, then it was supply/demand, then another hurricane, etc, etc...... I'm sure someone will come up with a lame-azz excuse even though the car companies are hurting worse than ever and the economy is in the toliet. I'm going to go with no one is buying fuel effiecent cars cuz they don't have money and they are holding on to their old gas gusslers

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post #4 of 16 Old 06-11-2009, 09:44 AM
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I agree that the economy won't support the prices going that high. Look what happened last time they artificially raised the price of oil. The prices drove consumers to not spend as much on the oil and the market corrected itself to a low of I believe $30. It will happen again if they try to raise the prices.

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post #5 of 16 Old 06-11-2009, 10:26 AM
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I agree that the demand will dwindle so bad they can't maintain prices that high... But making it til they come back down again is painful. Last year about took me out.

Prices are starting to get insane again. Yesterday morning on the way to work it was $2.29, coming home at lunch it was $2.39, and going home it was $2.47. All at the same station!

If Lowe's did that to plywood they get fined bigger that anything for price gouging. I just don't see how they get away with this crap

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post #6 of 16 Old 06-11-2009, 10:31 AM
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Quote:
Originally Posted by Firemanbill View Post
I agree that the demand will dwindle so bad they can't maintain prices that high... But making it til they come back down again is painful. Last year about took me out.

Prices are starting to get insane again. Yesterday morning on the way to work it was $2.29, coming home at lunch it was $2.39, and going home it was $2.47. All at the same station!

If Lowe's did that to plywood they get fined bigger that anything for price gouging. I just don't see how they get away with this crap
because the Gov't is tied in to it, so its obvious that they can do what they want..

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post #7 of 16 Old 06-11-2009, 11:12 AM
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Think of it this way: if obama wants to spend like a drunken sailor, AND get reelcted, he has to get revenue from somewhere without raising taxes so high that people can't afford to eat. The government makes 45% of the profits from the gas and oil industy, enough said


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post #8 of 16 Old 06-11-2009, 11:16 AM
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Well then I say we boycott the obamanation and start using vegi fuel

Jason

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post #9 of 16 Old 06-11-2009, 11:24 AM
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Originally Posted by 2006PSDSD View Post
Think of it this way: if obama wants to spend like a drunken sailor
Hey wait I am offended by being compared to Maobama.

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post #10 of 16 Old 06-11-2009, 11:24 AM
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Quote:
Originally Posted by 2006PSDSD View Post
Think of it this way: if obama wants to spend like a drunken sailor, AND get reelcted, he has to get revenue from somewhere without raising taxes so high that people can't afford to eat. The government makes 45% of the profits from the gas and oil industy, enough said

wanna explain that?
I'm callin BS untill you put up somethink to back it.

The price could very well go up simply based on the fact that a dollar bill is worth about 30% less than it was last year. 250 per barrel oil this year is equivelant to 175 a barrel last year.
Also China is consumming more oil that ever as well as India. All OPEC has to do is slow production and the price goes up. This has nothing to do with our economic woes....IMO

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