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Automotive News & Views How does gas at $4 and higher impact you?
2175 messages, Last post on Nov 05, 2009 at 3:05 PM
You are in the Automotive News & Views Forum. Your Hosts are steve_ & claires
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Oil down $4 today. I like it.
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Replying to: oldfarmer50 (Nov 03, 2008 4:45 pm) a family member even drove their nissan armada over to visit for a while over the weekend. 
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Replying to: kernick (Nov 03, 2008 1:43 pm) No commodities traders get involved, everyone isn't paying $1 per board-foot today and $10 tomorrow, it just works like the sale of anything else.
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Replying to: nippononly (Nov 03, 2008 8:10 am) " So maybe they should stick to pork bellies. Nobody starves to death when the speculators go on a bidding war for pork bellies. They just switch to chicken (speaking figuratively here). Oil is a unique case, one in which there should be no commodities trading, no bidding for contracts. In fact, most energy trading should be the same way. Energy may seem like a market commodity, but in its many forms it is more a necessity of the American lifestyle than it is an option. Imagine the uproar there would be if there was commodity trading and speculation for water. " I knew we could agree! Thanks's for approaching debate honestly and not sticking your head in the sand or sadly refusing to acknowledge. Well right on! Oil was considered intrinsic enough to US national security that we established a strategic petroleum reserve after the '70's so that we could not be held hostage. If you'll check my older posts you'll see I've been consistent. Yet somehow gaming of oil based on a Goldman/Morgan proscribed paradigm was deemed acceptible. Of the nine oil speculation bills put before congress only one had teeth. Rep. John Larson (d) connecticut managed to get someone really in the know to advise him and proposed not increased regulation or a separate comittee with oversight or any of the other destined to fail while absorbing taxpayer dollars solutions but a brilliant concept that would cut to the core. Before anyone would be allowed to buy a futures contract on oil or gas, they must show the ability to accept physical delivery. No taxpayers dollars spent. Goodbye paper traders and hedge funds. At one time speculators made up only 5% of trading and were mostly individuals . Today's hedge funds account for huge multiples of that and have far deeper pockets . Avast! To the soybean pits with you.
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Replying to: duke23 (Nov 03, 2008 7:35 pm)
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Replying to: nippononly (Nov 03, 2008 7:14 pm) And if there's a shortage of timber or a suspected shortage of timber, then Home Depot pays more and raises their prices 50%. On the other hand lobster has dropped to $4.99/Lb due to a recent glut of it. But in a few months it could be $11.99/Lb. With something like oil there is going to be a lot of spikes and drops. I just look at it long-term. and figure sometimes things are good and sometimes things are bad. Figure on an average cost, but leave enough room in your budget for the bad times. |
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Replying to: gagrice (Nov 03, 2008 8:04 pm) Looks like today he's back in it. Oil is up over $7. Now that he's got Obama elected he has time to play with oil again. 
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Replying to: oldfarmer50 (Nov 04, 2008 9:24 am) I'm afraid you are right. I think his big thing is currency manipulation. Keep the market volatile and he makes money. Stability is a curse word to guys like Soros.
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Replying to: gagrice (Nov 04, 2008 9:28 am) "I'm afraid you are right. I think his big thing is currency manipulation. Keep the market volatile and he makes money. Stability is a curse word to guys like Soros. " Also ditto to OF50's comment re: Obama. Yah GS has been ticked at GWB for a long time. Short term oil may rise as the drop from$147 to $60~ ish has resembled an elevator with no brakes. Signs still point to a cold winter and now that anxiety has eased a bit we can pay some attention to opec's possible second output cut. For a while. Long term trend still down. Something to ponder in the coming months. WWGSD ? Soros do. Short the world currencies in favor of the dollar since we are a refuge in troubled times? Buy properties from ECB's and the US Govt for a song? My guess, slowly accumulate hard assets since the recession will be shorter than generally predicted, to be in place when inflation rears it's ugly head once more. Given the printing press speed in DC as BTO said, " You ain't seen nothing yet". |
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We all get to ride on a high speed train..  LOS ANGELES (AP) - California voters are green-lighting the nation's most ambitious high-speed rail system, approving a nearly $10 billion bond to put speeding bullet trains capable of topping 200 mph between the state's major metropolitan areas. The measure, which passed with 52 percent support Tuesday, will fund the first phase of what is projected to be a $45 billion, 800-mile project built with state, federal, local and private money. Backers sold the proposal as an innovative alternative to soaring airfares and gas prices. In the closing weeks of the campaign, they touted estimates that it would create nearly 160,000 construction-related jobs and 450,000 permanent jobs. Hmmmm, 450,000 permanent jobs. So with wages and benefits that comes to about $33 billion per year. Wonder how many passengers that will take to pay for? Most realistic figures peg the overall cost at $90 billion. The state is currently broke. Many cities are laying off cops and firefighters. Makes you wonder where people have their heads. |
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