Gas Prices.... (1 Viewer)

there is a Goldman Sachs report that drove oil to $123 today....they are saying we could see $150-200 pbl in the next two years. Funny thing is 8 mo ago when they said $100 oil will be here, i thought there is no way. Couldnt have been more wrong.
 
Anyone else think Goldman Sachs is too heavily invested in the energy derivatives similar to Bear in the mortgage area? Wonder if they will pop and get bailed like Bear Stearns too.
Also, anyone think Goldman has too much control of the price of oil?
Normally I don't go for conspiracies but this is just annoying. They been screaming new oil highs for a while and they seem to always be right.


Yeah, as soon as I saw the article on the Drudge Report, I thought the same thing.

Goldman Sachs is up to their eyeballs in it. I guess they need to earn back some of the
billions lost by Bear Stearns.

If you read the article, there are just as many experts that think oil will be 40 dollars a barrel in
two years. I doubt that, but I hope the 200 dollar figure is not accurate either.

Joe
 
The gas tax "holiday" is impractical and a political pander. Even if the corporations don't price that 18 cents back into the price, rising demand as summer arrives will insure that the price rises to more than cover the savings anyway.

Of course, that's in addition to the fact that we can either postpone roadwork (and the jobs that go with it) or borrow to cover the difference (which could weaken the dollar, which could raise commodity prices like oil, which would then be reflected in higher gas prices, etc).

I'm not sure that oil will hit 200 dollars. There really is no "physical" reason why it should...a lot of this is a mixture of the dollar's declining value mixed with speculative BS (a lot of experts say that, even with geopolitical concerns, there is no real reason for oil to be higher than 75 dollars). The pyramid has to crash at some point, one would think.

However, I could see it hitting 150 before that happens...
 
Everyone does know our biggest oil importer is Canada right?

I'm coming around to the idea that oil trading is going thru something similar to what Enron did with electricity to keep the price high. Something is going on and we do not know the whole story. It would not surprise me that the price is being kept high to avoid investment losses.

btw, in sw washington, regular is now $3.80, desil is $4.48
 
How would this encourage the use of more fuel? So just because the gas would be 18.4 cents cheaper, people are going to drive more? Whoever thinks that is the <b>idiot</b>. I don't know about you, but I still would not just do a 1000 mile joy ride for the hell of it because fuel is $3.20 versus $3.38. It would just help out with the fuel people would be purchasing anyway. Either way, McCain wins. Either Congress does this and McCain's idea would be essentially saving people money during the Summer, or Congress does not do it and their true colors are now visible for even the more ignorant to see. They speak what people want to hear just to get into power and stay there, while directing their tone towards voters who have absolutely no idea of what is really happening. This is time for Ms. Nancy & Company to put up or shut up.

I guess you've never heard of a little thing called supply and demand. It's not at all complicated. Maybe you should look it up and, btw, when they cut the gas tax this summer, where do you think they're going to make up for the shortage? Borrow more and drive up interest rates, Print more and devalue the currency further. Both, probably.
 
Everyone does know our biggest oil importer is Canada right?

I'm coming around to the idea that oil trading is going thru something similar to what Enron did with electricity to keep the price high. Something is going on and we do not know the whole story. It would not surprise me that the price is being kept high to avoid investment losses.

btw, in sw washington, regular is now $3.80, desil is $4.48

That is what i think is up also. I think its kinda suspicious how we have gone from electricity to natural gas to real estate to oil in the last few years.

I am in Central Cailfornia. I am from Montana and still don't consider myself a Californian.
 

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