Anyone else hoping gas prices rise again?
- Thread starter Neil09
- Start date
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My investments in Exxon and a couple of natural resource mutual funds are down far more than I'll save in fuel purchases -- but since I'm not planning on selling any stock or shares anytime soon I'm sure gas prices will eventually rebound...
I enjoy the gas prices being low. The purchase of oil and gas futures that drive the prices of gas is a gamble by those who want to manipulate the market to their benefit. If you are looking to blame someone for the current situation, blame them.
It's a hard game to play, and working in the oil and gas industry rolls those same dice. How many rigs are out in the gulf that are rusting or abandoned because they just don't produce anymore? The prices of gas shouldn't be at the level they have been in the first place. The powers that be drove the price to where it was and lined their pockets... now they are having to back it down. Do you think they're suffering? Of course not. It's the workers that suffer so their bottom line stays where it is.
Just like any other corporate entity.
I remember a bunch of years back there was a fire at a Korean factory (I believe) of computer memory chips. Now, that particular company and factory produced less than 1% of all the memory chips that were imported into the United States. Even so, the prices of chips across the board SKYROCKETED 200% and even 500% simply because the fire was used to create a panic that there would be a shortage. The down side? THAT SO CALLED SHORTAGE FROM ONE FACTORY LASTED NEARLY TWO DECADES!! Which also drove the prices of everything that contained those chips. Imagine how expensive phones, tablets, laptops, etc. would be today if that "shortage" was still a threat.
The same thing has happened countless times over the last 20 years on MANY consumer goods... Ground Beef, AR-15's, ALL ammunition, Console video games (every year!), tablet PC's, Dairy Milk... the list goes on. Oil and Gas is ALWAYS at the top of the list. It is manipulated DAILY... even by something as simple as a news story.
I'm sure the folks up north that need that heating oil for the winter times aren't complaining one bit about the cost of oil and gas this year. How that relates to the local market's job base down south or production is probably not their concern either. It's not just the price of Gasoline... it's anything that requires a petroleum base to be produced...
http://www-tc.pbs.org/independentlens/classroom/wwo/petroleum.pdf
and PLENTY PLENTY MORE!
In the long run everyone suffers... because the consumer gets used to the price being low and then it jumps up again and we're left trying to figure out how to work it back into our budgets.
It's a hard game to play, and working in the oil and gas industry rolls those same dice. How many rigs are out in the gulf that are rusting or abandoned because they just don't produce anymore? The prices of gas shouldn't be at the level they have been in the first place. The powers that be drove the price to where it was and lined their pockets... now they are having to back it down. Do you think they're suffering? Of course not. It's the workers that suffer so their bottom line stays where it is.
Just like any other corporate entity.
I remember a bunch of years back there was a fire at a Korean factory (I believe) of computer memory chips. Now, that particular company and factory produced less than 1% of all the memory chips that were imported into the United States. Even so, the prices of chips across the board SKYROCKETED 200% and even 500% simply because the fire was used to create a panic that there would be a shortage. The down side? THAT SO CALLED SHORTAGE FROM ONE FACTORY LASTED NEARLY TWO DECADES!! Which also drove the prices of everything that contained those chips. Imagine how expensive phones, tablets, laptops, etc. would be today if that "shortage" was still a threat.
The same thing has happened countless times over the last 20 years on MANY consumer goods... Ground Beef, AR-15's, ALL ammunition, Console video games (every year!), tablet PC's, Dairy Milk... the list goes on. Oil and Gas is ALWAYS at the top of the list. It is manipulated DAILY... even by something as simple as a news story.
I'm sure the folks up north that need that heating oil for the winter times aren't complaining one bit about the cost of oil and gas this year. How that relates to the local market's job base down south or production is probably not their concern either. It's not just the price of Gasoline... it's anything that requires a petroleum base to be produced...
http://www-tc.pbs.org/independentlens/classroom/wwo/petroleum.pdf
and PLENTY PLENTY MORE!
In the long run everyone suffers... because the consumer gets used to the price being low and then it jumps up again and we're left trying to figure out how to work it back into our budgets.
Last edited:
No.
I sold the 1974 Exxon stocks my Grandfather gave me a few years after they merged with mobile and the stocks had split then rose again. I couldn't resist. Kinda got mixed feelings about selling some gold during that boom though. Got a feeling I should have kept all I had.
I sold the 1974 Exxon stocks my Grandfather gave me a few years after they merged with mobile and the stocks had split then rose again. I couldn't resist. Kinda got mixed feelings about selling some gold during that boom though. Got a feeling I should have kept all I had.
Gator 45/70
Well-Known Member
Yes
Why doesn't diesel prices fall with the price of oil dropping like gas does? I'm no oil and gas expert but I thought diesel was bi-product or side product of refining gasoline.I know when oil prices were sky rocketing the prices of consumer goods were going up based on the fact that it was costing more to get good to market/crops harvested from the fields. SO far I see no effects of the falling oil prices reducing the price of goods.
The stock market and investors control all. I'm a farmer. Nitrogen prices should be so low because it's made from natural gas, in large part. Well when gas went down this time, nitrogen didn't nearly come down a proportionate amount. We should see a dip in Pot Ash prices as diesel falls- takes a lot if machinery to mine. I'm willing to get we won't see a dip.
Companies that used to operate on margins as a business model, now operate on profit taking. Profits look good to investors. Done deal.
Side note: it's the big companies like Monsanto, DuPont, Dow, the big fertilizer houses, that lobby and influence the commodity portions of the farm bill- not farmers. It's become, "how much protection does the farmer need to just survive." On the business side it's "how much can we charge and have the farmer barely survive"
Rant over!
Sent from my iPhone using Tapatalk
Companies that used to operate on margins as a business model, now operate on profit taking. Profits look good to investors. Done deal.
Side note: it's the big companies like Monsanto, DuPont, Dow, the big fertilizer houses, that lobby and influence the commodity portions of the farm bill- not farmers. It's become, "how much protection does the farmer need to just survive." On the business side it's "how much can we charge and have the farmer barely survive"
Rant over!
Sent from my iPhone using Tapatalk
I do not have any Exxon/Mobil or any other stock so I do not want the price of gasoline or anything else to rise any more than necessary. Do you want to see Gun and Ammunition prices rise again?
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Hot Pepper
Well-Known Member
Living along the gulf coast with Oil & Gas as one of main economy drivers we should all support strong oil & gas prices.... Unfortunatley as some else said its the employees who suffer when oil & gas prices plunge. I'm too young to remember but in the early 80's oil plunged and people lost everything!
Good to hear. Hope it's just a delayed effect.
Between trading my SUV for a car with a smaller tank and better mileage, I'm now under $30 to fill up. I really didn't have a problem with gas at $3/gallon, it was acceptable and helped me be more efficient as a consumer. It was the $4.50/gallon that I felt was unreasonable.
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