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Author
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Topic: Speculation Affected Oil Price Swings After All!!
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SheerSliver03
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Member # 6589
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posted
 
 
yeah, i think anyone who understands econ and the stock market knew that one.
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2003 Altima SE
1970 Mustang Coupe *Sold
Posts: 641 | From: elk grove | Registered: Mar 2006
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RiddlerGT
Midnight King
Member # 113
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posted
look up the enron energy loop hole...it gets worse!
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SR
Posts: 2292 | From: San Ramon | Registered: Dec 2000
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Wildfire532FB
CAFords OG
Member # 1482
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posted
gas is going up again ![[Frown]](frown.gif) I paid 1.97 for gas a couple of days ago when about a month ago i was paying 1.59
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68 Fastback
84 CJ7
94 HMMWV
95 GT
03 F350
17 Fusion Hybrid
Posts: 17578 | From: 530 | Registered: Jun 2002
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iceman302
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Member # 7180
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posted
I've been saying this for easily 6 months or more. I think even had a couple threads on the topic.
Unfortunately, now prices have swung too far back the other way. The higher prices were funding a lot of projects that were producing more oil supply from oil shale, oil sands, etc. That was keeping supply more in line with demand. We will be OK as long as the economy is in rough shape and demand stays low but once the economy comes back around and people are employed again and driving more, oil will shoot back up rapidly since supply has been cut so short. The "alternative" production supplies that I mentioned above accounted for about 7% additional production. OPEC still controls 40% of the world supply and they've cut production by over 4 million BPD. They have majorly cut supply to deal with the current demand realities. Once demand returns to previous levels, oil prices will spike in the other direction and probably overshoot the supply/demand price of around $75 a barrel. We will see, but I think we're in for a yo-yo ride early next year.
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'65 Mustang Fastback
Posts: 4171 | From: Rancho Murieta | Registered: Oct 2006
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FriscoNotch
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Member # 5916
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posted
$2.05 for regular Chevron here in SF this morning.
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'93 SSP 5.0 Police Coupe
'83 GLX 5.0 Coupe
'79 Ghia Coupe
Posts: 305 | From: SF | Registered: Aug 2005
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