So much for that conspiracy. (1 Viewer)

Rickboy

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Some of you jokingly, some not, have spoken up about the dive in gas prices as the election loomed near. Some said that it was an attempt by the Republicans to influence the election and that prices would climb again as soon as the election was over.

Guess what.

http://today.reuters.com/news/artic...4_RTRUKOC_0_US-MARKETS-OIL.xml&src=rss&rpc=23

LONDON (Reuters) - Oil briefly dropped below $55 Friday to its lowest level since mid-2005 amid fund selling across commodity markets on worries of an economic slowdown in the world's largest energy consumer, the United States.

Also of note in the article, something I've been saying for a while....

"This fall also speaks of a well supplied crude market and a warmer outlook in the U.S., and with those conditions maybe the market is starting to wake up to the fact that prices shouldn't be near $60."
I'm tellin' ya, its only a matter of time. OPEC members are not going to stick with the new lower quotas because it would be stupid. Prices are still way to high to justify any type of cutback. It would be robbing themselves. No, you won't see any real OPEC cutbacks until prices get below $40. IMO, $40 is a fair price and gas should hover into the $1.50ish range (assuming no production, refining, or transportation issues)
 

Joe OKC

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Some of you jokingly, some not, have spoken up about the dive in gas prices as the election loomed near. Some said that it was an attempt by the Republicans to influence the election and that prices would climb again as soon as the election was over.

Guess what.
Rickboy.. I am one of the ones that you speak of... But again I say... If it was a republican setup due to elections.. Prices would not rise until after the holidays are over... and as spring and summer approach of 2007.. then gas prices will rise again with the normal US gas related consumption, activities and continue to go back up... You just can;t do a price fix and change it 2 weeks later... This takes planning here..

I say by the summer of 2007, the answer should be plain... But now.. Guess what... America wanted a little change... So that might complicait things a little... ANd Rummy is gone too... as is the old thread.

Lets use July 4th 2007 as the guage...... and I hope that I am wrong here...

Joe
 

LSSpam

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Oil prices SHOULD rise this winter anyways because of the winter heating season. Gas prices will lag behind though because it isn't a travel season. Prices then should drop in the spring and then sharply go up in the summer (in particular gas prices) due to the travel season.

You'd have to compare the relative spikes that come with peak usage against previous years spikes and see if the rise is greater then (or less then this Summer-to-Winter transition) by a great enough factor.

Edit - And i'm to lazy to do all of that :hihi:
 

LSSpam

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Ok, y'all remove your tinfoil hats. The only way the fed gov could manipulate gas prices is by a price freeze or removal of all gas taxes.
Well it wouldn't be the federal government, it would be the "oil conglomerates" fixing prices to influence the election because the Republicans provide some sort of compensating benefit. And no I don't buy it either.
 

LSSpam

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I don't know spam, that would involve a lot of players and word would get out eventually.

C
I think so yes. Investors in particular I would think would be scouring the financials and production data of oil companies. They do so anyways to predict trends. I'm not an expert or anything, but just from a laymans perspective, it seems to me much of "the Street" would be tipped off on any blatant, cross-industry price manipulation. Not to mention that oil prices are world-wide, not strictly US-wide.
 

JackT.

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could the reason for the decrease in oil prices be because of the huge oil deposit that was recently found?
 

Rugger

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Oil prices SHOULD rise this winter anyways because of the winter heating season. Gas prices will lag behind though because it isn't a travel season. Prices then should drop in the spring and then sharply go up in the summer (in particular gas prices) due to the travel season.

You'd have to compare the relative spikes that come with peak usage against previous years spikes and see if the rise is greater then (or less then this Summer-to-Winter transition) by a great enough factor.

Edit - And i'm to lazy to do all of that :hihi:
I do not think ir is an issue about the gap between the highs and the lows. I think everyone expects the spikes a certian parts of the year and dips in others. The concern is the starting price. The .70 difference between 2.20 dip and 2.90 spike. It is the 2.55 average.

It is vastly inflated and I think one oof the main reasons is who is president and who he has a direct relationship dating back before his presidency. I do not think anyone else as president would make much difference though. I do not think it would have gooten as out of hand had someone other than Bush be in charge. Still with both parties being so indebted to oil companies it is yet another reason to vote third party.
 

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