Santorum quit

[darthtang aw]

The price of crude hit a low of $45/barrel at the end of 2008, which is why the price of gas was so low.  At the beginning of 2009, the recession started to hit, which slowed demand, which in turn increased the cost for a barrel of oil.  Hence why the price of gas started climbing back up.  So in reality, it was Bush's fault because he was the idiot that drove us into the recession in the first place! BWHAHAHAHAHAHAHAHAHA.
Here's a nice lesson into why gas prices go up and down:
http://auto.howstuffworks.com/fuel-efficiency/fuel-consumption/gas-price.htm
http://useconomy.about.com/od/supply/p/oil_gas_prices.htm
The recession started in 2007.
http://money.cnn.com/2008/12/01/news/economy/recession/index.htm
What kind of tool are you? A screwdriver or a Hammer.
Just trying to figure out if you're mentally screwy or Hard-headed.
Darth (It's like arguing history with a 2nd grader) Tang

 

[bionicarm]

Quote:
Originally Posted by Darthtang AW http:///t/391285/santorum-quit/20#post_3469529
The recession started in 2007.
http://money.cnn.com/2008/12/01/news/economy/recession/index.htm
What kind of tool are you? A screwdriver or a Hammer.
Just trying to figure out if you're mentally screwy or Hard-headed.
Darth (It's like arguing history with a 2nd grader) Tang
Look at the history and trends of the price for a barrel of crude, and what the economy was doing at the beginning of 2009. It took a little over a year for the effects of the downturn towards the end of 2007 before the real part of the recession started affecting prices.

 

[reefraff]

Quote:
Originally Posted by bionicarm http:///t/391285/santorum-quit/20#post_3469632
Look at the history and trends of the price for a barrel of crude, and what the economy was doing at the beginning of 2009. It took a little over a year for the effects of the downturn towards the end of 2007 before the real part of the recession started affecting prices.
You still arguing less demand increased the price? ***SNORT!***

 

[darthtang aw]

Look at the history and trends of the price for a barrel of crude, and what the economy was doing at the beginning of 2009.  It took a little over a year for the effects of the downturn towards the end of 2007 before the real part of the recession started affecting prices.
It amazes me that a business owner would think That if less people buy his product, he should charge more to sell it, especially if he has a stock pile of it.
In all my years in business I have NEVER encountered this.

 

[bionicarm]

Quote:
Originally Posted by Darthtang AW http:///t/391285/santorum-quit/20#post_3469640
It amazes me that a business owner would think That if less people buy his product, he should charge more to sell it, especially if he has a stock pile of it.
In all my years in business I have NEVER encountered this.
The oil industry isn't your standard business. You don't think the Exxon's, Mobil's, and Shell's don't have large reserves sitting in their storage tanks right now? The price you pay for gas today is due to their speculations of what they'll have to pay for a barrel of crude 6 months fro now. Just look at the trends in the last month. Gas in my area has gone up 30 cents in that timeframe, and fewer and fewer people in my area are taking extended driving excursions because of the high gas prices. Why did Valero keep jacking up their prices, knowing there are less people buying their product at present time?

 

[reefraff]

Quote:
Originally Posted by bionicarm http:///t/391285/santorum-quit/20#post_3469705
The oil industry isn't your standard business. You don't think the Exxon's, Mobil's, and Shell's don't have large reserves sitting in their storage tanks right now? The price you pay for gas today is due to their speculations of what they'll have to pay for a barrel of crude 6 months fro now. Just look at the trends in the last month. Gas in my area has gone up 30 cents in that timeframe, and fewer and fewer people in my area are taking extended driving excursions because of the high gas prices. Why did Valero keep jacking up their prices, knowing there are less people buying their product at present time?
What do you call "large reserves"? As of last week at current consumption rates the US had a 25 day reserve. And that would indicate the yearly build up to account for summer driving season. I guess the talk of releasing some of the strategic reserve to help hold down prices was lost on you?

 

[darthtang aw]

The oil industry isn't your standard business.  You don't think the Exxon's, Mobil's, and Shell's don't have large reserves sitting in their storage tanks right now?  The price you pay for gas today is due to their speculations of what they'll have to pay for a barrel of crude 6 months fro now.  Just look at the trends in the last month.  Gas in my area has gone up 30 cents in that timeframe, and fewer and fewer people in my area are taking extended driving excursions because of the high gas prices.  Why did Valero keep jacking up their prices, knowing there are less people buying their product at present time?
I honestly think you just make crap up to defend your position. There are so many wrong points in this statement I don't even know where to begin.
Darth (Some people should be seen and not heard) Tang

 

[mantisman51]

The CEO of ExxonMobil was on Fox News on Wednesday and he said demand is down 5% and all storage tanks are "overflowing"-his words. He said the price of gas should be 40% lower. He said it is the fault of speculators. He said their refiners get oil that has been traded 30 or more times from the time it is loaded on the tankers to the time it is unloaded at their refineries. He's calling for reinstituting the rule that only processors can buy and sell oil and futures. So while I know Obama's policy of closing down government land for drilling and exploration has fueled the trading speculation, it is the speculation that is causing the run up in prices when all market forces are trending downward. Even Bill O'reilly and (I can't remember his name-the British anchor on Fox News) gave the numbers and every indicator is prices should be dropping-and not just a little. The British Fox Biz guy said 2 companies seem to be driving the higher prices more than anyone else: Goldman Sachs and Morgan Stanley. Matter of fact he said Morgan Stanley is the largest "oil company" in the world and they are using their leverage to artificially inflate the market, with a lot of help by Goldman Sachs. I really don't know the numbers well enough to argue the point. But those guys sure had a strong argument on the face of it.

 

[beth]

GS and MS again. The companies that were bailed out by the American tax payers.

 

[jerthunter]

I thought of one pro for both of them. Neither is Santorum.

 

[stdreb27]

Quote:
Originally Posted by mantisman51 http:///t/391285/santorum-quit/20#post_3469716
The CEO of ExxonMobil was on Fox News on Wednesday and he said demand is down 5% and all storage tanks are "overflowing"-his words. He said the price of gas should be 40% lower. He said it is the fault of speculators. He said their refiners get oil that has been traded 30 or more times from the time it is loaded on the tankers to the time it is unloaded at their refineries. He's calling for reinstituting the rule that only processors can buy and sell oil and futures. So while I know Obama's policy of closing down government land for drilling and exploration has fueled the trading speculation, it is the speculation that is causing the run up in prices when all market forces are trending downward. Even Bill O'reilly and (I can't remember his name-the British anchor on Fox News) gave the numbers and every indicator is prices should be dropping-and not just a little. The British Fox Biz guy said 2 companies seem to be driving the higher prices more than anyone else: Goldman Sachs and Morgan Stanley. Matter of fact he said Morgan Stanley is the largest "oil company" in the world and they are using their leverage to artificially inflate the market, with a lot of help by Goldman Sachs. I really don't know the numbers well enough to argue the point. But those guys sure had a strong argument on the face of it.
bill oreilly went to the kookie bin a long time ago... keep in mind, price fixing, which they allege, is illegal already...