What is Digg?174 Comments
- StingingNettle, on 05/29/2008, -2/+64Oil prices JUST fell. Gas usually legs behind oil price changes.
- Calcularius, on 05/30/2008, -13/+38Thanks for all the money!
Sorry about your kids.
-Love, Halliburton - CanIGetAWitness, on 05/29/2008, -0/+23Because the US government doesn't run the world.
- Jeveran, on 05/30/2008, -1/+23If you want to make some of that money back, invest in oil companies. Then, when your stock triples in value, you won't be complaining so much.
- mfc5200, on 05/30/2008, -1/+22they don't call them oil FUTURES for nothing. God damn.
- inactive, on 05/30/2008, -7/+25Now does everyone see that Huffington Post is nothing more then a propaganda machine?
- davidjunit, on 05/30/2008, -2/+19Well, only when prices are falling that is.
- inactive, on 05/29/2008, -4/+21the price of a barrel may have dropped since last week, but the demand for oil skyrocketed since it was a holiday weekend and people were traveling and out on the lakes, etc. lets keep things in perspective and stop writing articles just to hear the sounds of clicking keys. k? thnx
- MediaSight, on 05/29/2008, -2/+18Damn, i'm selling my car!
- randyzaia, on 05/30/2008, -0/+13Gas prices at the pump and oil prices do not move together on a daily basis - there's a lag.
- randyzaia, on 05/30/2008, -1/+14Oh my, tomatoes are 3.99 a pound that's so high...isn't that high...it seems so high...
- jasoninoakland, on 05/30/2008, -0/+13That's because the value of the dollar keeps dropping. (Oil is a fungible commodity traded the world over)
There are many reasons for the dollar's drop, but most of it has to do with our government's reckless and unaccountable lack of stewardship of the economy. - inactive, on 05/30/2008, -5/+17you can't explain economics to huffington post readers, they expect government control on everything. they don't understand refinery limitations either and our lack of finding our own ***** oil, which we have plenty of, but refuse to tap it.
- jim3008, on 05/30/2008, -0/+12dugg, i'm pretty sure lots of people don't even know what futures are
- Ryan166, on 05/30/2008, -1/+12$4.20?? It's a sign.You just gotta toke up instead of driving, bro.
- SemiSarcastic, on 05/30/2008, -2/+13More like the Hippest Propaganda Machine ever!
- iancgi, on 05/30/2008, -0/+10The reason is because oil is priced in American dollars. I don't know but if any of you guys know the American dollar has been on a decline in value for about 6 years now.
Sure they are gonna tell you its cause of peek oil or global warming. But they really are just distracting you so they can make a bit more money before the bottom falls out of this ***** fiat debt based economy we were sold into. - Uriah, on 05/30/2008, -0/+9Anyone would think that there was some sort of commodities market where people pay for the good well before it is delivered, to ensure they have the capital to produce it.
But that's just crazy talk! LOL.
It never ceases to amaze me how many people, even prominent people, don't understand basic economics and how some of our most essential markets work. - slightlygifted, on 05/30/2008, -0/+9only way for the prices to go down are for people to buy less gas.
- inactive, on 05/30/2008, -1/+9Because he feels entitled to cheap gas.
- Uriah, on 05/30/2008, -2/+9You think you're so smart, with your knowledge of how commodity markets operate and your fancy pants economics.
You just run around pointing out the obvious and making perfect sense.
If you keep this up, the HuffingtonPost will have nothing to write about!
Please won't somebody think about Arianna Huffington? - aznhomig, on 05/30/2008, -0/+7Supply of oil is inelastic; it takes time for the price change to reflect on the actual price paid for crude oil. The oil en route already were bought a few weeks ago, so their price won't be reflected on today's prices.
Pump prices aren't instantly responsive to crude oil prices on the market, that's all. - randyzaia, on 05/30/2008, -2/+9Why is it ridiculous that you have to pay that much?
- jserio, on 05/30/2008, -0/+7Yep. I too had no idea until I read about it this past weekend. For this interested:
http://en.wikipedia.org/wiki/Futures_exchange - inactive, on 05/30/2008, -6/+13This past weekend when I went home for Memorial Day, I heard someone at a station say we were all being screwed because gas prices didn't go down on the same day crude went down a bit in price.
I stared at him blankly, he responded by saying "It's outrageous...this is a $100 fill-up".
My response? "At least we're not in Europe. It'd be more like $200."
The guy seemed pissed, I wonder if that blew his mind. - altgeeky1, on 05/30/2008, -0/+6But we still have the World Series, right?
- MercedRocks, on 05/30/2008, -3/+9The "Pre-Bush price" was also pre-China and pre-India increased demand.
- aussieNickuss, on 05/30/2008, -0/+6I'm not savvy with how the refining process works, but I would assume the fuel I'm putting into my car today was probably refined two, three maybe even more weeks ago when it was at a higher price.
- santaliqueur, on 05/30/2008, -0/+6Are you one of these people who looks to the government to solve all his problems?
- atb12688, on 05/30/2008, -9/+15This is complete *****. These liberals have absolutely no ***** clue how anything works. We still have some of the lowest prices worldwide. But they hate talking about that...
- headzoo, on 05/30/2008, -12/+17The petrol companies have tasted blood, and they want more. They've seen that raising the prices hasn't affected demand, so why drop the prices if demand is still high?
- DivisibleByZero, on 05/30/2008, -1/+6Bicycle FTW!
- Ryan166, on 05/30/2008, -0/+5Moped FTMFW
- Rodex123, on 05/30/2008, -1/+6$4.50 a gallon, the money I pay to fill my Jetta would have put a full tank in my old Chevy suburban two years ago.
...***** my life - KMartSheriff, on 05/30/2008, -1/+6Motorcycle FTW
- groo68, on 05/30/2008, -0/+4Thats the opposite of supply and demand, we buy less, they lower the price, we buy more, they raise the price, if theres less supply they raise the price, if theres more supply they lower the price. based on textbook economics anyway.
- Ajajadude, on 05/30/2008, -2/+6Yeah. Lags long enough for the oil prices to spike again.
- inactive, on 05/30/2008, -0/+4p.s. We aren't really sorry about your kids.
- Ajajadude, on 05/30/2008, -2/+6I was heading up to Yosemite last week and came up on a car that was completely incapable of driving in a straight line, kept drifting out of its lane and whatnot. Basically, the guy was driving like he had one too many beers. Turned out it was a Halliburton vehicle. Apparently they don't train their schmuck employees how to drive on freeways.
- woofers07, on 05/30/2008, -0/+4gladly, oh wait I thought you said wife.
- ph1sh55, on 05/30/2008, -2/+6I'm honestly confused why you would want to tap our oil reserves. The smart thing is to use everyone else's resources first so that you ultimately hold the remaining reserves and have all the power. That security blanket for our country is a good thing..
- inactive, on 05/30/2008, -2/+6it does but the huffington post didn't tell you...
- ph1sh55, on 05/30/2008, -0/+4All of our oil resources on US soil can be considered our reserves in this context.. I agree being pawns to opec and other oil producing countries is not a good idea..that's the premise of what I was saying. Think long term- if we are pawns now- with the option to draw from our own local resources - compare that to the situation where we don't have any local oil resources having expended them too soon. Then all these other countries will hold ALL of the cards.
I'd rather we keep our straw in the middle east at all costs and completely drain their stocks than give them even more power down the road. As world oil stocks dwindle and we maintain our same oil resources it is an infinitely better situation.. - gbates31, on 05/30/2008, -2/+6This might have posted in a reply somewhere but the time it takes for oil prices to reflect in gas is about 6 months. What really blows my mind is that we aren't paying $5-6 dollars a gallon right now since the general rule of thumb is OilPrice/20=GasPrice. And before anyone beats the "Greedy oil corporation" drum to wildly let me state some simple facts:
1. Every time America starts a war or military action, oil prices explode. OPEC, or some guy connected with OPEC (and I'm sure more will agree) said that if it had not been for the wars in Iraq and Afghanistan the price of oil would be at $40/barrel at the most. Remember before Iraq, oil was at $23 a barrel?
2. The amount of dollars in circulation recently has increased about 17% year over year by the Federal Reserve. Also, figures came out showing the Federal Reserve is creating money at a blistering pace of $31 BILLION dollars per day so lenders can cover their asses from all the bad mortgages. This newly created money inevitably ends up in the hands of commercial banks and investment banks who put that extra money in commodities like oil. And since more money is in these same hands, they are able to bid up the same amount of oil for a higher price simply because they have additional dollars to spend. This is called inflation.
3. The idea that oil companies charge whatever price they want while thinking "***** them" is ridiculous. The cheaper gas is the more people can afford it and the more they will use it. The more expensive it is, the less people can afford it and they will use it less. This WILL cut into Big Oil's bottom line and is in their interest to keep gas as low as possible at all costs.
And if you don't agree with me then ***** you, turn of the television, and read a book. - inactive, on 05/30/2008, -0/+3Your boss can afford it, It's his choice. He's also allowed to bitch about it. I ride a motorcyle 90% of the year. Five years ago it cost me about $7 to fill up, now it costs me almost $20. I bitch about it.
- DigitAl56K, on 05/30/2008, -0/+3I would normally digg you up for that, but RTFA:
"In the last couple of days, the dollar has rebounded against both the euro and yen, receiving some support Wednesday when the U.S. Commerce Department said orders to American factories for big-ticket manufactured goods fell by a smaller-than-expected amount in April." - Mothrog, on 05/30/2008, -4/+7More mindless garbage from the Puffington Post. Buried.
- inactive, on 05/30/2008, -3/+6huffington post, don't try to make sense....
- davidlick, on 05/30/2008, -2/+5You don't by chance have a Ritalin prescription that ran out do you?
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