Irrational Irritation

[Mother]

http://news.bbc.co.uk/2/hi/business/7786456.stm


Opec wants to drive prices up?

I know I know capitalism

but

for make the beast with two backss sake, really?

I'm enjoying $1.58 a gallon

because of it i will drive more on my days off and spend more when i'm out driving

which translates into economy stimulus

why is this concept so hard for people to get?

cheap staples mean more discretionary spending

[swampduc]

Is it truly capitalism when you have a cartel as much as the market controlling supply?

Anyway, I think gas will still remain relatively affordable for a while due to reduced demand.

[Mother]

Is it truly capitalism when you have a cartel as much as the market controlling supply?

Anyway, I think gas will still remain relatively affordable for a while due to reduced demand.

I dunno

all i know is that OPEC can kiss my ass

[lauramonster]

I dunno

all i know is that OPEC can kiss my ass

that's the general direction they're aiming for, but they want to stick, not kiss.

"no one ever was taxed into prosperity"

[CowboyBeebop]

http://news.bbc.co.uk/2/hi/business/7786456.stm


Opec wants to drive prices up?

I know I know capitalism

but

for make the beast with two backss sake, really?

I'm enjoying $1.58 a gallon

because of it i will drive more on my days off and spend more when i'm out driving

which translates into economy stimulus

why is this concept so hard for people to get?

cheap staples mean more discretionary spending

Opec is a cartel, not a free-market actor.  Opec doesn't care about discretionary spending, as that's not how they get paid.  They know that they can make more money by raising prices than they currently are making from increased demand.  The only way to break them is to get off oil.  Me, I walk more and take public transportation when its convenient.  $4 a gallon or $1, I'm tired of giving my money to people who hate me and want to see me suffer. 

[Triple J]

There's a sweet spot for the price of oil where the oil companies/producers make a lot of money, but demand isn't significantly affected. This is what OPEC is looking for. Right now the price is so low they aren't making that much money (relatively speaking ofcourse). Late summer the price was so high that demand fell sharply.

[herm]

interestingly enough, i have heard that the retail side (gas stations) are actually making more money now, at the lower prices than they were when prices where through the roof.

personally, i think gas should be expensive enough for people to think about their consumption habits, but not just because OPEC wants to make a few more bucks.

[Scottish]

Opec is a cartel, not a free-market actor.  Opec doesn't care about discretionary spending, as that's not how they get paid.  They know that they can make more money by raising prices than they currently are making from increased demand.  The only way to break them is to get off oil.  Me, I walk more and take public transportation when its convenient.  $4 a gallon or $1, I'm tired of giving my money to people who hate me and want to see me suffer. 

I'm there... walking isn't very feesible for me... but I've definitely reduced my consumption as well.

interestingly enough, i have heard that the retail side (gas stations) are actually making more money now, at the lower prices than they were when prices where through the roof.

personally, i think gas should be expensive enough for people to think about their consumption habits, but not just because OPEC wants to make a few more bucks.

Actually makes since... their profit margin isn't going to change much regardless of the final price at the pump. Most of that money goes to people further up the ladder. Lower prices they still make close to the same per gallon, but are selling more gallons.

[CowboyBeebop]

Actually makes since... their profit margin isn't going to change much regardless of the final price at the pump. Most of that money goes to people further up the ladder. Lower prices they still make close to the same per gallon, but are selling more gallons.

Most gas stations are also convenience stores now.  They sell everything.  The lower the gas prices, the more customers to potentially buy things unrelated to gas. 

[the_Journeyman]

One of the smaller stations near my old house was making $0.01 per gallon.  They relied on the other stuff they sold to carry the gas station part ~

JM

[Fox]

I think one of the many causes for our "global financial crisis" is the run up of gas prices in the summer. By raising the prices they can assure that folks will continue to reduce demand and put more emphasis on competing forms of energy. They lack foresight, but I can't wait until there are other viable alternatives to oil available to the general public.

[Speedbag]

I dunno

all i know is that OPEC can kiss my ass suck my balls

Fixed.

Now that gas is cheap and I have a round trip work commute under ten miles I hardly spend anything on fuel. 

[He Man]

Maybe we should do some Metal Gear solid shit an kill all the CEOs and leave notes, next CEO better help the world and not be money whores.

[LA]

For the Saudis to break even they need $55 a barrel because of all the super high rise construction on the man made islands they're doing.  They actually want a stable price of around $70 a barrel. 

No body really wanted $140 a barrel and the Saudis weren't responsible for that price.  It was not a supply and demand thing. Somewhere between $40 and $70 per barrel of that $140 per barrel price was due to speculation.  And because of some of the de-regulatory changes (Thanks Sen. Phil Ghramm) that that helped us get into this financial mess, people could speculate by only putting up 5% margin rather than at least 50%.  The de-reg excluded energy futures contracts from government oversight.

Can't blame people for speculating in that type of environment.

LA