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They can control the supply, which does control the price (e.g. - releasing emergency reserves etc.)
Pre-Katrina (first part of Aug '05) the strategic reserve was at an all time high of 700 Mil bbls., of which 11 million where authorized for release in September '05 in response to the supply problems caused by Katrina. It's still down 11 Million bbls and there have been no sales since last September.
Modified to correct myself:
The sales were in September, but the actual release took place over a four month span (figures are in millions of barrels):
Sep 05: 0.5
Oct 05: 6.4
Nov 05: 2.4
Dec O5: 1.7
__________________ "If everything is under control, you are going too slow." - Mario Andretti
Re: Gas prices....................................
Regular is 2.59 in this college town in central Virginia. It's been dropping, but is still considerably higher (.20-.30) than other areas in the state. Local media are all over that, & the other night a tv crew was run off from a station by the owner/employees. Very amusing.
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Caution: Bag is not a toy.
Re: Gas prices....................................
There's only one more barge this year before freeze-up, and probably no more fuel barges, so that will be the locked-in price until the next fuel barge (probably early July '07).
good thing my job come with a vehicle, gas, and heated apartment!
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I have an inferiority complex, but it's not a very good one.
Re: Gas prices....................................
You really think politicians control the price of gasoline?
Crude oil is down from about $78 / barrel to $64 in the past month or so. *Do US politicians also control the global price of oil? *I guess that would make Jimmy Carter about the stupidest person on earth.
No I don't think that politicians control the price of oil or the supply of it...I do think that traders, speculators and oil companies do control the supply and the price, and are riding a gravy train that they do not want to see end. If prices spiked before the election, or simply stayed high, it might be enough to cause a lot of encumbents to be voted out of office just because people are pissed off - even if thats not a good reason to vote that way.
The people and companies that are getting filty rich off the current price of oil, do not want to see a change of power in Washinton especially if the incoming regime decides they want to start cutting off subsidies to oil companies, or taxing windfall profits at high rates.
Re: Gas prices....................................
actually, my job only comes with a truck....but the other project engineer's job does come with a snowmobile
with any luck, I'll be outta here by X-mas. I figure I have 8 months left to be employed before I'm FIREd. Next June-Sept. 07 should be a piece of cake compared to this fall.
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I have an inferiority complex, but it's not a very good one.
Re: Gas prices....................................
No I don't think that politicians control the price of oil or the supply of it...I do think that traders, speculators and oil companies do control the supply and the price, and are riding a gravy train that they do not want to see end. If prices spiked before the election, or simply stayed high, it might be enough to cause a lot of encumbents to be voted out of office just because people are pissed off - even if thats not a good reason to vote that way.
I work on a trading floor and never once have I heard anyone suggest putting on a trade to try to influence an election. I've also never heard of someone putting on a trade because they thought that other people will try to influence an election through their trades.
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I was . . . Yrs to Go. But now I'm Gone4Good.
Re: Gas prices....................................
I work on a trading floor and never once have I heard anyone suggest putting on a trade to try to influence an election.* I've also never heard of someone putting on a trade because they thought that other people will try to influence an election through their trades.* *
I used to work with computers and programmers...I never once heard of anyone saying that they were going to write a virus that would destroy data on peoples computers...therefore there are no viruses.
Its the same logic, just because you don't hear it discussed, doesn't mean its not happening...but time will tell.
Re: Gas prices....................................
I used to work with computers and programmers...I never once heard of anyone saying that they were going to write a virus that would destroy data on peoples computers...therefore there are no viruses.
Its the same logic, just because you don't hear it discussed, doesn't mean its not happening...but time will tell.
It is a little different because people put on trades all the time in anticipation of what other people are going to do.* If there was any credible correlation between elections and oil prices people would be tripping over themselves to exploit it.* Also the volume of trading needed to push global oil prices down $15 suggests a coordinated effort which could not be kept secret (unless it was done by the Plunge Protection Team)* . . . that's something quite different from some 15 year old virgin diddling his computer for kicks.
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I was . . . Yrs to Go. But now I'm Gone4Good.
Re: Gas prices....................................
Quote:
. . . that's something quite different from some 15 year old virgin diddling his computer for kicks.
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