Help me understand....Russia invades Georgia and oil prices tumble?

Seen the light

(1000+ posts) Send PM | Profile | Ignore

Fri Aug-08-08 11:28 AM
Original message

Help me understand....Russia invades Georgia and oil prices tumble?

Russia invades Georgia, which is a key transit point for oil because of its energy pipeline (http://www.timesonline.co.uk/tol/news/world/europe/article4484849.ece) and yet...oil is down almost $4 a barrel today?

How does any of this make any fucking (hi Washington Times!) sense?

Printer Friendly | Permalink | | Top

Mojorabbit

(1000+ posts) Send PM | Profile | Ignore

Fri Aug-08-08 11:30 AM
Response to Original message

1. No it does not

make any sense. I am wondering if there is an effort to decrease the price before the election.

Printer Friendly | Permalink | | Top

SeaLyons

(1000+ posts) Send PM | Profile | Ignore

Fri Aug-08-08 11:33 AM
Response to Reply #1

4. That's exactly my thoughts....

Edited on Fri Aug-08-08 11:33 AM by cricket08

you can just see it - talk of bringing troops home, gas prices falling. All geared to the uninformed voters.

Printer Friendly | Permalink | | Top

leveymg

(1000+ posts) Send PM | Profile | Ignore

Fri Aug-08-08 11:32 AM
Response to Original message

2. Everybody is ignoring events closely until something happens

Yogi Berra couldn't have said it any better? No?

Printer Friendly | Permalink | | Top

originalpckelly

(1000+ posts) Send PM | Profile | Ignore

Fri Aug-08-08 11:32 AM
Response to Original message

3. The dollar is stregnthening, is someone manipulating the value of the dollar?

There might be a way to figure this out, I'll be back.

Printer Friendly | Permalink | | Top

originalpckelly

(1000+ posts) Send PM | Profile | Ignore

Fri Aug-08-08 11:36 AM
Response to Reply #3

6. Ah no luck.

We really need a database of currency trades and the people behind them to be openly disclosed to really investigate this kind of stuff.

Printer Friendly | Permalink | | Top

Mojorabbit

(1000+ posts) Send PM | Profile | Ignore

Fri Aug-08-08 11:38 AM
Response to Reply #3

7. There is an article

in todays stock market watch that might explain why the dollar is "strengthening".

Printer Friendly | Permalink | | Top

Canuckistanian

(1000+ posts) Send PM | Profile | Ignore

Fri Aug-08-08 11:35 AM
Response to Original message

5. Prices go up when someone sneezes in Nigeria

But fall when a superpower invades an oil pipeline area?

Must be one of those mysterious "supply and demand" things.

Printer Friendly | Permalink | | Top

ben_meyers

(1000+ posts) Send PM | Profile | Ignore

Fri Aug-08-08 11:39 AM
Response to Original message

8. Maybe because elsewhere in the world

Euro Falls the Most in 8 Years on Reduced Bets for Higher Rate.

Iraq to resume oil search after 20-year halt. (could double reserves)

Wyden bill takes aim at oil, natural gas speculators.(partial re-regulation of speculators}

The great oil bubble has burst.
http://www.telegraph.co.uk/opinion/main.jhtml?xml=/opinion/2008/08/08/do0801.xml

The price of oil has become detached from supply and demand, and the speculators may be reading the handwriting on the wall. Time to bail.

Printer Friendly | Permalink | | Top

LostinVA

(1000+ posts) Send PM | Profile | Ignore

Fri Aug-08-08 11:46 AM
Response to Reply #8

11. Bingo -- the Euro

Printer Friendly | Permalink | | Top

HiFructosePronSyrup

(1000+ posts) Send PM | Profile | Ignore

Fri Aug-08-08 11:40 AM
Response to Original message

9. Oh c'mon.

You didn't really thing the high prices were due to supply and demand, did yo?

Printer Friendly | Permalink | | Top

muriel_volestrangler

(1000+ posts) Send PM | Profile | Ignore

Fri Aug-08-08 11:42 AM
Response to Original message

10. The article does point out the pipeline is already out of action in the Turkish section

The first major attack on the pipeline took place only last week - not in Georgia but in Turkey where part of it was destroyed by PKK separatist rebels.

Output from the pipeline, which is 30 per cent owned by BP and carries more than 1 per cent of the world's supply, is likely to be on hold for several weeks while the fire is extinguished and the damage repaired.

So there's not immediate affect on world oil supplies. The traders don't think the fighting will spread to the pipeline area, I guess.

Printer Friendly | Permalink | | Top

DU AdBot (1000+ posts)

Tue May 07th 2024, 05:31 PM
Response to Original message

Advertisements [?]

Top

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.