Gas prices-

[justplugit]

Originally Posted by Backbeach Jake

It's all part of our training process.

Ya, Fred, the monkey never learns.

I'm no expert on oil prices, that's for sure.
Depends on who and where you get your information from. So many contradictions.

I've read where as high as 60% of oil prices are due to speculation.
Therefore if that is true, it would make sense if there is a chance of more oil coming to the market prices on NYMEX would react.

OPEC refers to NYMEX when setting it's prices so it has a big effect.

A few months ago i read where gas would be $5/ gal by Labor Day, and now with people driving a little less and polls showing 70% of the American people
want to drill, oil prices have suddenly dropped from over $157a barrel to today's price of $118.

I've read where the Democrats don't want to vote on the drilling question until after the election.
I've read where the oil companies are to blame, or not.

Charts show that seasonal summer gas price drops start at the end of August but now it's just the beginning of August.

A lot of factors to sort out for sure.

Does anyone really know.

Only thing i know for sure is in these dangerous times we need to start drilling yesterday, as ya can't run tanks and jet fighters on batteries yet.

[Scaup]

Originally Posted by justplugit

I've read where the Democrats don't want to vote on the drilling question until after the election.

Dems want to try and hold off on vote because they assume they will gain the WH and retain control of congress and therefore can do something other than be forced to vote on drilling - its political posturing and nothing more - its not based on doing what the American people want.

[Fishpart]

Interestingly enough, as the price of oil drops the DJIA goes up. The speculators have made a fortune on oil and are retreating to the stock market.

Personally as someone who makes stuff for a living, I believe high oil can only help us because it makes artifically low priced Chinese goods more expensive than locally manufactured goods. It also opens up more incentive for people to recycle, thus creating more industry locally to take advantage of less transportation. I just hope my theories become more widely accepted. We need to do things for the right reasons F#$% THE CEO and his board of YES MEN. In the long run doing the right thing for the right reasone will create more value for the shareholders.

[justplugit]

Originally Posted by Scaup

- its political posturing and nothing more - its not based on doing what the American people want.

That's why people need to e-mail their representatives expressing their views and check their voting record on the issue.

Like when does the average American have time to do that??

Politcians depend on people not really having the time to make intelligent voting decisions.

They depend on their innuendo ads, if you can't convince them with the facts, dazzle em' with BS.

[Joe]

Global demand has increased 100% over the last year and that is what has pushed oil prices higher.
China and India grew at a remarkable 100% last year.
Somebody pass me the vasoline.