CC1981 Posted July 29, 2008 Posted July 29, 2008 What has Hindutva got to do with this??...you will remain a moron forever. Hinduvta like yourselves who try to draw a religious 'evil mooslim wanting to **** us over thus jacking up price and lowering production' type of responses most categorically have a lot to do with the issue. And i thought you were admonishing others for namecalling personally...what happened chump ? forgot your own rule ? I can see, why well known jeehadi sympathizers, soar loosers like you are p!ssed with hindutva Get this through your thick skull- i am not a jeehadi sympathiser and i have NEVER EVER made a comment endorsing jihad..and newbie, if you'd been here long enough, you'd know that i've been BANNED a few times for dissing/taking apart Islam and the prophet...if you think i am jihadi, just ask mhr123 what he thinks on this- he is gonna laugh you outta the ballpark. What you hinduvta 'if you arnt with us, you are with our enemy' type of thinking morons don't get is, i am not a jihadi sympathizer- i hate the jihadis and the hinduvtas EQUALLY and i laugh at your religion's concept of God just as much as i laugh at theirs. I laugh at allah just as much as i laugh at your vishnu...if anything, call me an equal opportunity hater. Speaking from rear stinking orfice again without knowing the data. Look, noobie, be very very careful if you want to challenge me on the oil industry and oil politics. Long-time posters here know of my basis of knowledge on mid-east politics and particularly on oil. Trust me, unless you are a longtime worker in the oil industry there, you have very little data or knowledge to challenge me on this. Show me how Kuwait's oil production is affected because of Iraq invasion first before your any statement is taken with even a pinch of salt. Idiot, learn to read. I mentioned iraq,kuwait etc. as examples...when Iraq invaded kuwait, its oil export got destroyed and so did in the ensuing gulf war (there were TWO YOU KNOW!) until Iraq was beaten and kuwaiti oil fires were put out. You'd have done far better to ask for clarification instead of misinterpreting what i said. Iraq before invasion was living under tough sanctions of Amreeka. Saddam regime was never allowed to export oil in bulk quantity and generate much foreign exchange so much so that they can affect OIL PRICE by even a fraction of precentage. My example of oil price jumping even in midst of a middle eastern war involving an oil producing nation is on Gulf war- which is what the 1991 episode is referred to. Again, ask for clarification, instead of being a moron. As said before, much of world's oil price rise is due to production cuts/refusal to increase production with rising demand by OPEC countries particularly Saudi Arabia. And this is why it is a clear ARM-TWISTING. No, that is one of the three main factors- and even my father, who worked at the very TOP MANAGERIAL level of a highly influential oil company in mid-east for 20 years doesnt know which one of the three is the biggest factor, so tu kis kheth ki mooli hain ? You seriously think i am gonna give credibility to a two-bit hinduvta moron over the internet over that of a guy who's opinion was sought by kings of these arab oil-bations ??? The three conditions are : 1. refusal to increase production from OPEC 2. Oil speculators in the west 3. Iran-US oil tension and the Hormuz angle. PS: Speaking of eunuches, i noticed that like a typical eunuch, you ignored the nexus of my argument, the Iran-US-Hormuz angle. Nice going, Eunuch!
Guest dada_rocks Posted July 29, 2008 Posted July 29, 2008 SO MM till 2007 oil price was at 60 -70 $ per barrel.. what new destabilization spots have been opened to justify your claim that it's bush operation around the world behind the gar price rise......
CC1981 Posted July 29, 2008 Posted July 29, 2008 SO MM till 2007 oil price was at 60 -70 $ per barrel.. what new destabilization spots have been opened to justify your claim that it's bush operation around the world behind the gar price rise...... Iran-US tensions and escalation, with Iran having the ability to **** over the entire world's economy is 'whats changed'. You've also been told that its a factor of 3 events ( oil nations not wanting to increase output-cant blame em for that, oil speculators in the west and iran-us-hormuz angle), you've instead, ignored all that and gone straight back to your nonsense, as usual.
Lurker Posted July 31, 2008 Posted July 31, 2008 It would have been hilarious had it not been so freaking tragic. Exxxon Mobil makes 12 billion $ quarter profit, with a record 138 billion $ in sales! Wooooohooo!!! Surely the rising oil prices must be solely due to arm twisting of OPEC countries :hysterical::hysterical: In the last 2 weeks the price of oil has come down atleast 15-20%(from 150$ a barrel to about 120 or so). However the price at the pump has barely fallen 15-20%. If the average price was $4.5 per gallon, a 15% lowering would mean close to $3.80 or so, which is definitely not the case. In other words International Oil price falls but local price remains unchanged. I suppose OPEC countries are also making money at the gas pumps in USA! :hysterical: http://money.cnn.com/2008/07/31/news/companies/exxon_profits/index.htm?cnn=yes
kumble_rocks Posted July 31, 2008 Posted July 31, 2008 It would have been hilarious had it not been so freaking tragic. Exxxon Mobil makes 12 billion $ quarter profit, with a record 138 billion $ in sales! Wooooohooo!!! Surely the rising oil prices must be solely due to arm twisting of OPEC countries :hysterical::hysterical: In the last 2 weeks the price of oil has come down atleast 15-20%(from 150$ a barrel to about 120 or so). However the price at the pump has barely fallen 15-20%. If the average price was $4.5 per gallon, a 15% lowering would mean close to $3.80 or so, which is definitely not the case. In other words International Oil price falls but local price remains unchanged. I suppose OPEC countries are also making money at the gas pumps in USA! :hysterical: http://money.cnn.com/2008/07/31/news/companies/exxon_profits/index.htm?cnn=yes :hysterical::hysterical::hysterical::hysterical: High time we had windfall tax ! This has become a monopoly and daylight robberry. These fa.cking oil companies have made sure that their is no mass transit in Texas !
Ram Posted August 5, 2008 Author Posted August 5, 2008 Oil at $119/barrel right now, its lowest in 3 months.
Lurker Posted August 5, 2008 Posted August 5, 2008 Yep they are coming down but still the price at pump stations dont fall the same trend. Remains to be seen if they do. Airline Industry is certainly NOT following the trend. When the gas price was high, they jacked up the price including charging people for luggage etc. Now that the price comes down it is the same old story. The other day I saw a clip on CNN where they showed how certain tickets have shot up by 227% within 1 year!!
retterimp Posted August 7, 2008 Posted August 7, 2008 that chicken and egg comment was hilarious....the dollar is weak not cause oil is high...its weak cause of the *****iness of american economy...we're in a stagflation scenario boys, where the fed cant raise rates to help the dollar, and neither cut it to help out the economy and dont get too happy about oil price drop....its just a correction...long term trend is up.....
Ram Posted August 12, 2008 Author Posted August 12, 2008 Despite the Russia-Georgian conflict, Oil has continued its downward trend. It closed yesterday at $114.32 Some of the most important oil/natural gas supply pipelines for Europe run though Georgia. There were fears that had the conflict continued for any longer, it could have an adverse impact on prices again.
Guest dada_rocks Posted August 12, 2008 Posted August 12, 2008 As I said this has nothing to do with socalled political instability because price started going up when confilicts were at relative political stabiility stage even in Iraq.......I know it's conveneitn tool for peopl to beat Bush with but certainly has no signifcant bearing on opil price.. First thing Bush did after entering Iraq is to consolidate the oil fields and that was for some reason ..
CC1981 Posted August 13, 2008 Posted August 13, 2008 Despite the Russia-Georgian conflict, Oil has continued its downward trend. It closed yesterday at $114.32 Ofcourse. Its expected that oil prices will come down,atleast a bit (Even though the long term trend is up and only up) : more oil is being pumped out and the prime geo-political consideration towards oil ( Iran-US/Israel relation) has been less rhetoric-driven in the recent past.
Ram Posted September 15, 2008 Author Posted September 15, 2008 Right now, the price is at $96.60. Thats a massive 35% drop from its July levels. Much needed repreive for conusmers, already suffering from the onslaughts from all other directions.
Lurker Posted September 15, 2008 Posted September 15, 2008 Right now' date=' the price is at $96.60.[b'] Thats a massive 35% drop from its July levels. Much needed repreive for conusmers, already suffering from the onslaughts from all other directions. Yep but oddly enough the price at pump has not fallen 35%. In July the rate was hovering around 4$ a gallon, 35% off it would mean it should sell about 2.65$ per gallon. It is actually selling a dollar more. Same story with Airlines, their charges has also not come down yet.
Ram Posted September 15, 2008 Author Posted September 15, 2008 Yep but oddly enough the price at pump has not fallen 35%. In July the rate was hovering around 4$ a gallon, 35% off it would mean it should sell about 2.65$ per gallon. It is actually selling a dollar more. Same story with Airlines, their charges has also not come down yet. There's no linera corelation between the price of oil/barrel and price of gas at the pumps, Lurks. You must understand that as such, the gas that you get at the pump is highly subsidized by the govt. If you dont believe, ask the guys who are living in the U.K. They pay more than twice as much as you do, for a gallon of petrol. So, you couldnt possibly expect the commercial price to fall, if the oil price fall too.
Ram Posted September 16, 2008 Author Posted September 16, 2008 The price is now down at around $91. This is a freefall now, which is not a good sign. Generally, such price hikes or free-falls are both unsustainable. Oil price has been going down literally $3, $4 A DAY. Possibly, it could stabilize around the $78, $80/ mark. At this point, I am tempted to recollect some of the predictions earlier this year about how the price could go upto $200.
punjabi_khota Posted September 17, 2008 Posted September 17, 2008 WHAT THE **** JUST HAPPENED TO GAS PRICES IN US TODAY ???????? 2 days back, it was 3.35 here...it was 3.99 today. WTF!!!! IKE ?
Ram Posted September 17, 2008 Author Posted September 17, 2008 WHAT THE **** JUST HAPPENED TO GAS PRICES IN US TODAY ???????? 2 days back, it was 3.35 here...it was 3.99 today. WTF!!!! IKE ? Because Hurricane Ike was expected to hit the Gulf coast, which is were some of the biggest US oil refineries are present, it was expected that supply of gas to the retail stations may be affected. So, people started filling their tanks to the brim, over and above what they would normally do. And as always... When Demand increases, so does the cost. You will see a fall in the prices soon though.
Lurker Posted September 17, 2008 Posted September 17, 2008 Because Hurricane Ike was expected to hit the Gulf coast, which is were some of the biggest US oil refineries are present, it was expected that supply of gas to the retail stations may be affected. So, people started filling their tanks to the brim, over and above what they would normally do. And as always... When Demand increases, so does the cost. You will see a fall in the prices soon though. Yep. It is also compounded by the greed of local gas pumps who simply rake in money without having a single moral bone breaking in their body. I suggest take a couple of gallons so you are able to last a few days. The situation should get to normal within 72 hours or so in most places. No need to give this greedy son of guns extra of your hard earned money.
Laaloo Posted September 18, 2008 Posted September 18, 2008 $3.59 last night in NJ. It was hovering around $3.29 4 days before that.
Ram Posted September 18, 2008 Author Posted September 18, 2008 Oil is rebounding today, up nearly $5/barrel, to around $95/barrell. God knows what changed in the last 2 days for this rally to happen.
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