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Low gas prices bad for the economy???

Discussion in 'Anything goes' started by hondo, Sep 19, 2006.

  1. old_tony

    old_tony Well-Known Member

    When gas was highest, what was the price of oil? What has happened to the price of oil lately? Feel free to ignore the truth, dog. You'd probably have to kill yourself if you ever did face the truth.

    Here's a hint, though, because I know you won't look it up: oil was over $72 a barrell in April. It's down to $62 today and is probably going to be below $60 a barrell soon. But no, it has nothing to do with oil prices. NOT!
  2. dog428

    dog428 Active Member

    Tell me you didn't just use "NOT!" in a post. And this not 10 minutes after asking for a mature conversation.

    Here's a good explanation for you from the ultra-liberal rag, Business Week:

  3. old_tony

    old_tony Well-Known Member

    Wow, you're an even worse case than I thought. So you think OPEC would have limited production while prices were at record highs? If that's what you think, there's no point in ever having another discussion with you. As to using NOT!, I was 100% confident you wouldn't get the sarcasm. The fact that you need the help is not a reflection on me, but you.
  4. dog428

    dog428 Active Member

    Let's see ... Business Week or old tony from SportsJournalists.com ... Business Week or old tony ... yeah, I'm gonna go with Business Week. But you were right there.
  5. PeteyPirate

    PeteyPirate Guest

  6. old_tony

    old_tony Well-Known Member

    Yup, just ignore common sense. No matter what Business Week says, if you think any company or organization tries to limit production when prices are at record highs, you're hopeless.
  7. The Big Ragu

    The Big Ragu Moderator Staff Member

    Dog, What is your point? In your first post you blamed OPEC. I started to respond about how OPEC doesn't have anything near the power it had in 1974, but decided not to get dragged into more idiocy. Then you contradicted yourself by linking to that article saying basically that. And the article just points out that 1) They can't pump enough of the stuff out of the ground quickly enough, and 2) Refining capacity is low and took a hit during the hurricanes in 2005. So essentially you just linked to an article that points out that prices are high because supply is woefully inadequate for the worldwide demand. So how exactly is George W. Bush at work here?
  8. zeke12

    zeke12 Guest

    Wait a minute, I missed the part where dog blamed OPEC.

    I remember the part where Lyman said it was proof of media bias that the media didn't blame OPEC.

    That much I've got.
  9. Starman

    Starman Well-Known Member

    "Low" (or, more accurately, "somewhat lower") oil prices are simply a shell game by the oil company/Emperor Palpacheney regime to blunt consumer anger just before the elections, and maybe save some of their precious Republipetrochemical seats in Congress.

    Then, since we've already been pre-conditioned/numbed to the idea of rocketing prices, as soon as the election results are in, we'll rocket right back up to $5.00 a gallon the first time anybody takes a piss in the Gulf of Mexico and raises prevailing winds over four knots, or some mullah in the Middle East rattles his rusty saber.

    This particular story is nothing more than the right wing "Suck The Dick Of Big Business Every Day" media amen chorus going along to pump the public notion that it's a bad, bad thing if the oil companies aren't raking in profits by the billions every second. Oh yeah. It's a real bad thing.
  10. dog428

    dog428 Active Member

    Ragu, I never suggested OPEC was guilty of anything. You've got me confused with old tony (thanks for that, btw). I said the problem was on this end, not with the supply of crude oil. And it's not. There's plenty of oil, just not plenty of refined product.

    Certainly, OPEC can be the problem in some cases. But not in this one. It's the refining capacity. And the refiners are toying with the supply and screwing with the price. They've done it before and they're doing it now.

    And no one knows that better than a person who spent his life in or around the oil business. The president and vice president have known since day one that the oil companies were screwing us and they knew exactly how they were screwing us. And that's the reason I blame GWB and his administration. I've never said they were responsible for the price increases. But they can be held accountable for not putting a stop to the bullshit.
  11. Read and weep

    Read and weep Member

    What I find ludicrous in the story is the inference that people will now be flush with cash and be out spending wildly. Look at it this way: say you drive 300 miles a week and your car gets 20 miles to the gallon, that's 15 gallons per week. If you are now paying 40 cents less per gallon than a few months ago, that's a whopping savings of $6 per week. You're not exactly going to rush out and buy that new HD TV. Maybe an extra lunch at McDonald's instead.
    The whole agrument is moot.
  12. jgmacg

    jgmacg Guest

    But who controls the market?
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