Oil prices..."supply and demand"...yeah...right

SHRED

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Wed May-21-08 09:56 AM
Original message

Oil prices..."supply and demand"...yeah...right

Edited on Wed May-21-08 09:57 AM by SHRED

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It is my understanding:
Oil prices are not primarily dictated by the classic "supply and demand" scenario.
The falling dollar and speculative commodities markets are driving the majority of current hikes.

ANWR would do nothing as far as gas prices go.
As if ANWR is somehow "our" oil as a country.
Do people actually think oil corporations, based here, are loyal to us and care about what we pay?
:rofl:

Those advocating drilling in ANWR under the guise of increasing supply and thus lower gas prices are either duped or shills for the petroleum industry.

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edited for spelling

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aquart

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Wed May-21-08 09:58 AM
Response to Original message

1. Yes.

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louis-t

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Wed May-21-08 10:16 AM
Response to Original message

2. The classic whine from wingers....

"de Democraps won't let 'us' drill." :cry: When I inform them that only 5% of ANWR is closed to drilling, they don't believe it, don't know what to say. When I inform them that the amount of oil in 5% of ANWR (most of which will be sold to Japan) will not make any difference in the price of gas, they change the subject to drilling in the gulf. "Foreign countries are drilling off our coast but 'we' can't."

Isn't it funny how when supply is down, demand is up, prices go up, oil execs say that's "supply and demand". When demand goes down, supply goes up, price still goes up, that's "what the market will bear".

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cosmik debris

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Wed May-21-08 10:27 AM
Response to Original message

3. I don't get your point.

Are you saying that speculative demand is not a part of the "supply and demand" market?

Are you saying that this speculative demand is permanent and not dependent on variable world events?

Are you saying that opening up ANWAR would not change this speculative demand?

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SHRED

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Wed May-21-08 10:31 AM
Response to Reply #3

4. ANWR was the point

Rightwingers insist that opening ANWR up all the way will somehow make us "less dependent on foreign oil" and that prices will fall.

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cosmik debris

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Wed May-21-08 10:34 AM
Response to Reply #4

5. So what was all that about free markets and speculation?

It seems to me that if we could squelch some of the speculation, prices would fall.

I thought at first that you were trying to make that argument.

But now I'm just confused.

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SHRED

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Wed May-21-08 10:41 AM
Response to Reply #5

6. I was trying....

...to point out that the simple minded argument put forth by the RW and their talking heads is shallow.
That there is much more to the picture of why oil is at record prices.
But we know that.

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cosmik debris

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Wed May-21-08 10:46 AM
Response to Reply #6

7. If you say so...

But you laid the ground work for the counter-argument that opening ANWAR would reduce speculative demand and thus reduce prices.

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