Fail, baby, fail

[deskslave]

Turns out there's absolutely no connection between increased U.S. drilling and falling gas prices.

I for one am shocked. SHOCKED.

http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2012/03/20/national/w235136D94.DTL&type=business

That's because oil is a global commodity and U.S. production has only a tiny influence on supply.

 

[Boom_70]

Don't we have an "oil running thread" ? If not we should have.

 

[Zeke12]

Don't we have an "oil running thread" ? If not we should have.

I sold it short on a tip from Moddy, made a killing when it got locked.

 

[Azrael]

Don't we have an "oil running thread" ?

Yes, but it's a plug-in electric, so it won't be ready to use for another nine hours.

 

[waterytart]

Don't we have an "oil running thread" ? If not we should have.

I sold it short on a tip from Moddy, made a killing when it got locked.

Threads being locked is strictly a function of supply and demand. I would be happy to explain it to you over some nice Sacher torte.

 

[Azrael]

Ach! Gut! Mit Schlagsahne, bitte!

 

[apeman33]

Don't we have an "oil running thread" ? If not we should have.

I sold it short on a tip from Moddy, made a killing when it got locked.

Threads being locked is strictly a function of supply and demand. I would be happy to explain it to you over some nice Sacher torte.

Better lock it now. The price might go up again tomorrow.

 

[Zeke12]

Don't we have an "oil running thread" ? If not we should have.

I sold it short on a tip from Moddy, made a killing when it got locked.

Threads being locked is strictly a function of supply and demand. I would be happy to explain it to you over some nice Sacher torte.

Nach Moddy, wir?

 

[franklin lincoln]

Anyone have a link to the regression analysis? I only saw a link to some data the AP said it used. If that's it, there's some serious omitted variable bias. Regardless, there's some tainted variable issues.

 

[EStreetJoe]

"Any politician that tells you they can lower gas prices is full of b.s." -- FoxNews commentator Bill O'Reilly in 2008

 

[Zeke12]

http://www.documentcloud.org/documents/327163-gas-production-and-prices.html

 

[Boom_70]

Don't we have an "oil running thread" ? If not we should have.

I sold it short on a tip from Moddy, made a killing when it got locked.

You should have held on. Price went up today due to heavy internet traffic over Tebow/ Saints.

 

[franklin lincoln]

http://www.documentcloud.org/documents/327163-gas-production-and-prices.html

EDIT: Thanks for the link.

One question I have is on the L2 regression.

If that stands for a 2-month lag time, as I suspect it does (and would be reasonable for refinement), then the regression produces a statistically significant drop in prices.

In fact, there's a clear pattern where L1 and L3 see increases in price and decreases in gas purchases, while L2 shows the opposite.

 

[Ace]

Oil companies execs will tell you they have nothing to do with the gas prices.

 

[Football_Bat]

Y'all are just trying to call me out by speaking fake German.

Oil hasn't been solely governed by the laws of supply and demand since probably 1998, if even then.

Obama is going tomorrow to Cushing, which is absolutely floating in oil. Every tank in the farm is bursting to capacity as Big Oil waits for the real peak to release it. At the same time, U.S. demand is down. The dollar is as strong against the euro as it's been in two years.

Domestically we have four times as many rigs drilling as we had at the end of the Bush administration. We're drill, drill, drilling, and you don't even have to give Obama credit, nor should you necessarily. Facts are facts.

This is 100% on the backs of speculators betting on a blow-up in Iran despite the fact NATO has four carrier battle groups in the Persian Gulf or within a day's sail. The Strait of Hormuz will stay as open as Snooki's hoo-ha.

 

[User 11148]

http://www.documentcloud.org/documents/327163-gas-production-and-prices.html

EDIT: Thanks for the link.

One question I have is on the L2 regression.

If that stands for a 2-month lag time, as I suspect it does (and would be reasonable for refinement), then the regression produces a statistically significant drop in prices.

In fact, there's a clear pattern where L1 and L3 see increases in price and decreases in gas purchases, while L2 shows the opposite.

Not really, there's no clear pattern here. Some of the point estimates for slope coefficients are negative, but very few are significantly different from zero. Further, you've got an error-and-fishing rate dynamic in play here: So many tests raises the probability that at least some of the "significant" results we see here are simply through chance.

 

[Batman]

http://www.documentcloud.org/documents/327163-gas-production-and-prices.html

EDIT: Thanks for the link.

One question I have is on the L2 regression.

If that stands for a 2-month lag time, as I suspect it does (and would be reasonable for refinement), then the regression produces a statistically significant drop in prices.

In fact, there's a clear pattern where L1 and L3 see increases in price and decreases in gas purchases, while L2 shows the opposite.

That paragraph reads like a cheat code from "Grand Theft Auto."

 

[Zeke12]

Don't we have an "oil running thread" ? If not we should have.

I sold it short on a tip from Moddy, made a killing when it got locked.

You should have held on. Price went up today due to heavy internet traffic over Tebow/ Saints.

It's OK, took my profits and diversified. I'm long on Ragu character count, Dooley posts and Boom typos.

 

[Football_Bat]

Don't we have an "oil running thread" ? If not we should have.

I sold it short on a tip from Moddy, made a killing when it got locked.

You should have held on. Price went up today due to heavy internet traffic over Tebow/ Saints.

It's OK, took my profits and diversified. I'm long on Ragu character count, Dooley posts and Boom typos.

Good thing you shorted RokSki and John D. Villarreal.

 

[txsportsscribe]

Oil companies execs will tell you they have nothing to do with the gas prices.

and strippers will tell you they're putting themselves through college