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Oil Prices Fall Due To Surprise?  
User currently offlineSprout5199 From United States of America, joined Feb 2005, 1855 posts, RR: 2
Posted (8 years 7 months 17 hours ago) and read 1358 times:

Check this crap out:

http://money.cnn.com/2006/05/03/markets/oil_eia/index.htm?cnn=yes

oil supplys rose 1.7 mil bar., gas rose by 2.1 mil bar. , and diesel fell by 1.1 mil bar.. and these are surprises? 2.1 Million Barrels? 2.1 MILLION? I think this is a load of crap. maybe 1000 barrels is a surprise, but how do you not account for 3.8 million of anything? methinks something screwy is going on here.

short little rant

Dan in Jupiter

5 replies: All unread, jump to last
 
User currently offlineAerospaceFan From , joined Dec 1969, posts, RR:
Reply 1, posted (8 years 6 months 4 weeks 1 day 8 hours ago) and read 1303 times:

The various news channels have also offered two contradictory claims:

1. That oil supply has been tight, leading to the recent spectacular rise in gas prices; and, more rarely,

2. That there is actually plenty of oil, the problem being that speculators have bid the price up artificially.

Today, it was reported that the price of crude oil fell; however, the price of gasoline continues to rise -- it rose 3 cents in Southern California in the last day. Yet whenever it's reported that crude oil just rose in price, the gas companies seem to raise prices immediately. If gas prices can rise so quickly, why can't they fall equally quickly?

As you say, something is screwy here.

[Edited 2006-05-05 06:41:13]

User currently offlineAsstChiefMark From , joined Dec 1969, posts, RR:
Reply 2, posted (8 years 6 months 4 weeks 1 day 8 hours ago) and read 1297 times:

Local gasoline prices dropped 11 cents since yesterday.

Mark


User currently offlineAerospaceFan From , joined Dec 1969, posts, RR:
Reply 3, posted (8 years 6 months 4 weeks 1 day 8 hours ago) and read 1293 times:

Quoting AsstChiefMark (Reply 2):
Local gasoline prices dropped 11 cents since yesterday.

That's good news. I hope that this happens to us tomorrow.


User currently offlineL-188 From United States of America, joined Jul 1999, 29813 posts, RR: 58
Reply 4, posted (8 years 6 months 4 weeks 1 day 7 hours ago) and read 1286 times:

Welcome to market economics people.

The markets would be able to work better if we could get goverment interference out of them.....mandating ethanol blends then slapping a 50% import tariff on Brazilian Ethanol for example.



OBAMA-WORST PRESIDENT EVER....Even SKOORB would be better.
User currently offlineAerospaceFan From , joined Dec 1969, posts, RR:
Reply 5, posted (8 years 6 months 4 weeks 1 day 7 hours ago) and read 1279 times:

Free market economics, I do think, depends on competition. I wonder if the oil companies are truly competitive.

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