Chevron Lubricants Q&A

click here to participate in the Chevron Lubricants Q&A

Recent Topics
Leather care?
by Srt20
04/27/15 11:36 AM
3k miles,98corolla, PYB, 3 months. change it?
by ziggy
04/27/15 11:10 AM
Free SW to correct (barrel) distortion?
by 97tbird
04/27/15 11:06 AM
Bellevue, Washington
by andrewg
04/27/15 10:52 AM
my car relativity theory
by friendly_jacek
04/27/15 10:29 AM
2006 PT...how long for oil change
by HIGHGROOVE
04/27/15 10:14 AM
Adjustable drawbar for towing
by supton
04/27/15 10:04 AM
2012 kia optima 2.4L GDI, Transmission Fluid
by jstutz
04/27/15 09:48 AM
Walmart Cary, Nc supertech filters, fram clearance
by Saul
04/27/15 09:37 AM
2008 GM 3.5L
by DownRiverDet
04/27/15 09:32 AM
Older model Expedition/Suburban recommendations?
by Fitz98
04/27/15 09:24 AM
Fake emails
by SVTCobra
04/27/15 08:15 AM
Newest Members
Acid_Rock_Racer, chasm22, digitalbilly, farmerjohn, kruq
53748 Registered Users
Who's Online
98 registered (2009Edge, 87sammy, 77GrandPrix, 440Magnum, 4Scott4, 2010_FX4, 7 invisible), 2170 Guests and 182 Spiders online.
Key: Admin, Global Mod, Mod
Forum Stats
53748 Members
66 Forums
230407 Topics
3688397 Posts

Max Online: 2862 @ 07/07/14 03:10 PM
Donate to BITOG
Page 1 of 2 1 2 >
Topic Options
#2546258 - 02/23/12 06:12 PM Saudis & Oil Speculators
buster Offline


Registered: 11/16/02
Posts: 29392
Loc: NJ
_________________________
2015 Mazda 3i SV 6spd MT - Mobil 1 EP 0w20

Top
#2546271 - 02/23/12 06:30 PM Re: Saudis & Oil Speculators [Re: buster]
eljefino Offline


Registered: 06/15/03
Posts: 25976
Loc: ME
We need tools to knock the knees out from under speculators when things get ridiculous. Be nice to have preset "circuit breakers" like a 55 mph speed limit or even extra gas tax that would cut consumption beyond whatever margin the traders are counting on, if a price per barrel increase goes over a certain % over X months. That preset, already-law circuit breaker would overshadow said speculators and might convince them to find other pickings.

Begging the saudis is kind of low for a first world nation, but we weren't and aren't rife with options.

Top
#2546283 - 02/23/12 06:50 PM Re: Saudis & Oil Speculators [Re: buster]
SHOZ Offline


Registered: 06/28/03
Posts: 2418
Loc: Illinois
Tax to cut consumption? Consumption is way down and dropping every year further.

Top
#2546293 - 02/23/12 07:05 PM Re: Saudis & Oil Speculators [Re: eljefino]
demarpaint Offline


Registered: 07/03/05
Posts: 22580
Loc: NY
Originally Posted By: eljefino
We need tools to knock the knees out from under speculators when things get ridiculous. Be nice to have preset "circuit breakers" like a 55 mph speed limit or even extra gas tax that would cut consumption beyond whatever margin the traders are counting on, if a price per barrel increase goes over a certain % over X months. That preset, already-law circuit breaker would overshadow said speculators and might convince them to find other pickings.

Begging the saudis is kind of low for a first world nation, but we weren't and aren't rife with options.


Bingo!!
_________________________
God Bless Our Troops


Top
#2546302 - 02/23/12 07:19 PM Re: Saudis & Oil Speculators [Re: buster]
NHGUY Offline


Registered: 10/09/11
Posts: 3810
Loc: USA
There was a time when there were no speculators bidding on oil futures.I think it all started in 79.Why it was even allowed back then I will never know.

Top
#2546304 - 02/23/12 07:20 PM Re: Saudis & Oil Speculators [Re: buster]
Boomer Offline


Registered: 09/19/08
Posts: 1723
Loc: Pennsylvania
I think if we required that you actually had to have the facilitities to accept physical delivery of oil before you could buy futures, a lot of this [censored] would disappear.
_________________________
2003 Saturn L 300 121,250 miles
2013 VW Passat TDI SE, 22,300
2014 VW Jetta TDI SportWagen 6650 miles

Top
#2546325 - 02/23/12 07:41 PM Re: Saudis & Oil Speculators [Re: NHGUY]
Drew99GT Online   happy


Registered: 10/11/02
Posts: 21116
Loc: Colorado Springs
Originally Posted By: NHGUY
There was a time when there were no speculators bidding on oil futures.I think it all started in 79.Why it was even allowed back then I will never know.


Some speculation in markets is good. History has shown us that, especially historically in agriculture markets, as a certain amount of speculation helps with price stability (both ways).

However, what's happened in the oil market over the past decade is nothing but theft IMO.

http://news.firedoglake.com/2011/05/25/cftc-charges-oil-traders-in-2008-speculation-scheme/

Gasoline demand in the United States is at a 10 year low, we're exporting record amounts of refined gasoline, and the price of gas has never been this high at this point in a year.

It's partly supply and demand, partly the result of the devalued dollar, but to deny that part of the problem is financial corruption is just lunacy.

Top
#2546328 - 02/23/12 07:44 PM Re: Saudis & Oil Speculators [Re: buster]
GROUCHO MARX Offline


Registered: 07/24/02
Posts: 11410
Loc: The Sandhills of NewYorkistan
Tell the Iranians to play nice.
_________________________
80% of people polled say that their neighbor should take mass transit to work.

Top
#2546334 - 02/23/12 07:49 PM Re: Saudis & Oil Speculators [Re: buster]
Drew99GT Online   happy


Registered: 10/11/02
Posts: 21116
Loc: Colorado Springs
For the record, I invested in an energy ETF a few weeks ago with the thought that all this talk about Iran will make crude oil futures start climbing again.

Might as well get in on the action if you can.

Top
#2546358 - 02/23/12 08:14 PM Re: Saudis & Oil Speculators [Re: buster]
Mr Nice Offline


Registered: 09/12/04
Posts: 13745
Loc: USA
And if Iran gets attacked this summer ?????
_________________________
2007 Civic EX
2006 Accord SE
2005 RSX base
2005 Civic LX

Top
#2546371 - 02/23/12 08:20 PM Re: Saudis & Oil Speculators [Re: buster]
spock1 Offline


Registered: 01/19/12
Posts: 233
Loc: Edmonton, Alberta, Canada.
You guys may want to check out this link for a different spin.

http://lindseywilliams101.blogspot.com/2011_06_22_archive.html

Top
#2546440 - 02/23/12 09:16 PM Re: Saudis & Oil Speculators [Re: buster]
Y_K Offline


Registered: 05/29/09
Posts: 1203
Loc: WA (USA)
I am not buying into this sad Saudi tale
_________________________
Corruptissima republica plurimae leges
"The first step in community organization is community disorganization." - Alinsky

Top
#2547767 - 02/25/12 06:42 AM Re: Saudis & Oil Speculators [Re: buster]
grampi Offline


Registered: 10/08/06
Posts: 4162
Loc: OH
Today's ridiculous prices are mainly caused by out-of-control speculation...

Top
#2547788 - 02/25/12 07:17 AM Re: Saudis & Oil Speculators [Re: Y_K]
demarpaint Offline


Registered: 07/03/05
Posts: 22580
Loc: NY
Originally Posted By: Y_K
I am not buying into this sad Saudi tale


The Saudi tale just helps fuel the speculators that's all. It's a small part of the mix blown out of proportion. If we see $5 a gallon gas expect the auto industry to take a dump again. It might be time to buy that new car you've been dreaming about, the dealers will be begging for sales like they were a few years ago. JMO
_________________________
God Bless Our Troops


Top
#2548827 - 02/26/12 06:59 AM Re: Saudis & Oil Speculators [Re: buster]
SteveSRT8 Offline


Registered: 10/10/08
Posts: 16002
Loc: Sunny Florida
I like the idea that if they pump it up here then they sell it here.

This whole price thing is occurring when supplies are HIGH and demand is LOW. Completely bass-ackwards.

It is not the fault of oil speculators... it is the fault of oil exportation! There should be a strategic tariff on exported oil and oil products.
_________________________
"In a democracy, dissent is an act of faith."
J. William Fulbright
Best ET-12.79 @ 111 mph
4340 pounds, Street tires
Just like we go to Publix

Top
Page 1 of 2 1 2 >