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03-15-2011, 09:02 PM
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Ban Survivor. (x2)
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Join Date: Jun 2010
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Disaster in Japan... question about oil price
So, any other time in history, big oil would have jumped all over raising fuel prices when this tsunami hit japan and the threat of nuclear meltdowns and that oil rig burning to the ground. However fuel holds a solid 3.65.
Did big oil grow a heart and say what a minute, because we had to jack up prices from libya and there BS, we can't possibly jack the prices again.
It just pisses me off, anything and everything is an excuse to raise prices, yet this HUGE thing happens and fuel dont go up a cent.
It just makes me feel like those "other" things are exactly that... EXCUSES. and in all actuality have no effect on oil price, just being used as an excuse.
WTF!!!!
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03-15-2011, 09:05 PM
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Get Lifted.
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Join Date: Nov 2010
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Re: Disaster in Japan... question about oil price
in all reality oil shouldnt of gone up at all.
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03-15-2011, 09:12 PM
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I'm an F-18, bro
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Join Date: Jan 2010
Posts: 1,972
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Re: Disaster in Japan... question about oil price
The oil price went up with Libya/Egypt because of the possibility of the Suez canal being compromised. Japan has nothing to do with the world's supply of oil.
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1999 B2500 5 Speed
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03-15-2011, 09:14 PM
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Ban Survivor. (x2)
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Join Date: Jun 2010
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Re: Disaster in Japan... question about oil price
^^^ I understand that, what I am saying is this. Had the libya thing never happend and nothing else was going on that would "effect" oil prices, I garun-damn-tee oil prices would have skyrocketed after these latest events.
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03-15-2011, 09:17 PM
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I'm an F-18, bro
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Join Date: Jan 2010
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Re: Disaster in Japan... question about oil price
Quote:
Originally Posted by pooleo
^^^ I understand that, what I am saying is this. Had the libya thing never happend and nothing else was going on that would "effect" oil prices, I garun-damn-tee oil prices would have skyrocketed after these latest events.
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I doubt it. Oil didn't go up after the New Orleans crisis.
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1999 B2500 5 Speed
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03-15-2011, 09:23 PM
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Ban Survivor. (x2)
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Join Date: Jun 2010
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Re: Disaster in Japan... question about oil price
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03-15-2011, 09:27 PM
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I'm an F-18, bro
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Join Date: Jan 2010
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Quote:
Originally Posted by pooleo
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I stand corrected. As I give katrina more thought, I remember a busy US port was compromised. Bad example I guess. I still stand by my original opinion.
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03-16-2011, 03:40 AM
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Ford Ranger Driver
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Join Date: Sep 2010
Posts: 3,182
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Re: Disaster in Japan... question about oil price
If the scumbag oil speculators on wall street have a chance to screw this country....they do it. Last I checked the price of oil futures dropped after this happened.
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03-16-2011, 05:40 AM
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slingin' mud to the sky!
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Join Date: Feb 2011
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Re: Disaster in Japan... question about oil price
since the japan thing happened here we dropped 10 cents in gas price from 3.59 to 3.49
persoanlly i think all they do is make up excuses cause they hate us
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03-16-2011, 06:00 AM
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Ford Ranger Driver
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Join Date: Mar 2010
Posts: 2,137
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Re: Disaster in Japan... question about oil price
Quote:
Originally Posted by dvrich
If the scumbag oil speculators on wall street have a chance to screw this country....they do it. Last I checked the price of oil futures dropped after this happened.
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They are the only reason why oil goes up.
When the arabs dropped prices on several occasions over export to stimulate world economy, oil companies still raised them.
Btw, Japan oil demands dropped to an all time low, so companies should have massive surplus. I doubt they'll drop prices, they'll just find another obscure country at war that has nothing to do with the industry to blame for another raise.
Grr
Trolls.
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03-16-2011, 06:37 AM
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Ford Ranger Driver
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Join Date: May 2010
Posts: 723
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Re: Disaster in Japan... question about oil price
Gas is traded on the stock exchange every day , so investors use it as a cash tool to make money . when any event occurs , it usually means people either invest in oil or sell it depending on what happens . Just a way to make a quick buck . Gas/Oil co's like exxon and BP , and chevron etc . Make the money when the oil goes higher , but also the investors make money as well when the price goes up .
Brief explaination as to why prices go up so quickly and down takeas longer . More to it than this but a basic description !
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Merlin215
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03-16-2011, 11:07 AM
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florida cracker
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Join Date: Nov 2010
Posts: 543
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Re: Disaster in Japan... question about oil price
hell in florida the prce went down 3 cent japan thing happend
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03-16-2011, 11:22 AM
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"Eh, it'll buff out"
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Join Date: Oct 2010
Posts: 1,683
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Re: Disaster in Japan... question about oil price
I just find it funny that we have enough oil in the US alone to keep us going for the next 800 years (just in the US and with the current growth rate)... but they'd rather import it, jack the price and tax the shit out of it.
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2008 Ford Ranger Sport 4x4 4.0L
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03-16-2011, 11:37 AM
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Ford Ranger Owner
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Join Date: Mar 2011
Posts: 70
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Re: Disaster in Japan... question about oil price
Quote:
Originally Posted by ObsoleteE
The oil price went up with Libya/Egypt because of the possibility of the Suez canal being compromised. Japan has nothing to do with the world's supply of oil.
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This is true Japan is not a producer of crude. The reason it could affect the price of oil is because it is fuel in the short run has a fairly inelastic demand meaning that the price does not affect the quantity of oil based products sold. for example, you arent going to sell or stop driving your ranger if the price of gas goes up tomorrow, you are going to suck it up, in the long run you may considering getting rid of it for something easier on gas. So in short the price will go up for the same reason that the price goes up during long weekends. They know that we will pay
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Quote:
Originally Posted by 08Ranger Sport 4x4
I just find it funny that we have enough oil in the US alone to keep us going for the next 800 years (just in the US and with the current growth rate)... but they'd rather import it, jack the price and tax the shit out of it.
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You mean negative growth right? lol jokes man just and ignorant canadian talking
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03-16-2011, 11:39 AM
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"Eh, it'll buff out"
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Join Date: Oct 2010
Posts: 1,683
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Re: Disaster in Japan... question about oil price
lol sloan, idk about the growth rate. positive or negative. either way, still have plenty of crude around.
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2008 Ford Ranger Sport 4x4 4.0L
-5 speed, undercoating, tinted windows, keyless entry, 3.73 gears
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-33x12.5 r 15 BFG M/T KM2's
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