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SweetTooth
I'm a tired mommy!
Member since 12/05 20105 total posts
Name:
Lauren
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falling gas prices - conspiracy?
Do you think there is anything to the thought that gas/oil prices are falling because the election is drawing near?
Oil companies want a president that will support them....
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Posted 8/6/08 5:09 PM  |
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Long Island Weddings
Long Island's Largest Bridal Resource |
evnme
My little lamb
Member since 8/05 12633 total posts
Name:
aka momma2b
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Re: falling gas prices - conspiracy?
Message edited 8/6/2008 5:42:17 PM.
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| Posted 8/6/08 5:19 PM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: falling gas prices - conspiracy?
absolutely not, and anyone who thinks so doesnt understand how it works.
Oil prices are market driven - hedge funds, etc. as much as the president would like, they cant control the market. 
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| Posted 8/6/08 5:34 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: falling gas prices - conspiracy?
Posted by Meaghan729
absolutely not, and anyone who thinks so doesnt understand how it works.
Oil prices are market driven - hedge funds, etc. as much as the president would like, they cant control the market.
agreed speculation drove the price up
demmand decreased- esp in China with so many factories being closed and them taking cars off the road for air quailty
demmand in the US also dropped considerably
simple economics- as the price goes up- demmand falls- therefore the price falls
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| Posted 8/6/08 5:41 PM |
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Songwriter76
LIF Adult
Member since 4/08 902 total posts
Name:
David
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Re: falling gas prices - conspiracy?
Posted by Beth1210
Posted by Meaghan729
absolutely not, and anyone who thinks so doesnt understand how it works.
Oil prices are market driven - hedge funds, etc. as much as the president would like, they cant control the market.
agreed speculation drove the price up
demmand decreased- esp in China with so many factories being closed and them taking cars off the road for air quailty
demmand in the US also dropped considerably
simple economics- as the price goes up- demmand falls- therefore the price falls
I really would LOVE to believe this. But it just goes to show the damage of this administration. Even if they have nothing to do with it, Americans ALWAYS think the worst of them with good reason.
Personally, say all you want about hedge funds, speculators and demand. That is the way it is SUPPOSED to work. But keep in mind that our President and Vice President are both Oil-Men. Don't put anything past them OR their power.
Plus, doesn't anyone out there find it interesting that prices went down right after McCain called for offshore drilling and the oil companies donated $2 million to his campaign
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| Posted 8/6/08 6:17 PM |
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HoneyBadger
YourWorstNightmare.
Member since 10/06 15979 total posts
Name:
BahBahBlackJeep
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Re: falling gas prices - conspiracy?
I wouldn't be surprised if there was some sort of connection somewhere.
But then again, I'm always looking for the conspiracy theory!!!
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| Posted 8/6/08 6:19 PM |
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mommy2Alex
3 babies for me :)
Member since 5/05 6683 total posts
Name:
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Re: falling gas prices - conspiracy?
Posted by Meaghan729
absolutely not, and anyone who thinks so doesn't understand how it works.
Oil prices are market driven - hedge funds, etc. As much as the president would like, they cant control the market.
I agree 100%. The demand for oil from China and India has grown dramatically in the past few years. Supply hasn't kept up. OPEC has not increased production enough to keep up with demand. Simple economics. It is just a coincidence that we have an "oil man" for President. The President doesn't control the price of oil.
Everyone is always looking for a conspiracy and a reason to distrust the government, from the assignations in the 60's to 9/11 to oil prices. 
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| Posted 8/6/08 8:50 PM |
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sunnyplus3
:)
Member since 11/05 8749 total posts
Name:
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Re: falling gas prices - conspiracy?
Speculation driving the price up is a myth or government & corrupt entertainment "news" shows would like the sheeple of this country to believe.
An excerpt from an article that explains why much more eloquently than I can
The Economist July 3, 2008
"The accusers point to the link between the volume of transactions on the futures markets and the price of oil. Since 2004 the near tripling of trading in oil on the New York Mercantile Exchange (NYMEX), the world’s biggest market for the stuff, has neatly coincided with a tripling in the price.
What is more, investing in oil has become something of a fad. Commodities traders and hedge funds with long experience have been joined by less expert sorts, including pension funds and individuals. All this, the theory runs, is contributing to a bubble in commodities. The rush of punters betting on higher prices is begetting a self-fulfilling prophecy: it is the tide of new investment, rather than inadequate supply or irrepressible demand, that is pushing the price of oil ever higher.
Follow the oil, not the futures
This reasoning holds obvious appeal for those looking for a scapegoat. But there is little evidence to support it. For one thing, the surge in investment in oil futures is not that large relative to the global trade in oil. Barclays Capital, an investment bank, calculates that “index funds”, which have especially exercised the politicians because they always bet on rising prices, account for only 12% of the outstanding contracts on NYMEX and have a value equivalent to just 2% of the world’s yearly oil consumption.
More importantly, neither index funds nor other speculators ever buy any physical oil. Instead, they buy futures and options which they settle with a cash payment when they fall due. In essence, these are bets on which way the oil price will move. Since the real currency of such contracts is cash, rather than barrels of crude, there is no limit to the number of bets that can be made. And since no oil is ever held back from the market, these bets do not affect the price of oil any more than bets on a football match affect the result.
The market for nickel provides a good illustration of this. Speculative investment in the metal has been growing steadily over the past year, yet its price has fallen by half. By the same token, the prices of several commodities that are not traded on any exchanges, such as iron ore and rice, have been rising almost as fast as that of oil.
Speculators do play an important role in setting the price of oil and other raw materials. But they do so based on their expectations of future trends in supply and demand, not on whims. If they had somehow managed to push prices to unjustified heights, then demand would contract, leaving unsold pools of oil.
The futures market does sometimes signal that prices are likely to rise, which might prompt speculators to hoard oil in anticipation. But it is not signalling that at the moment, and there is no sign of hoarding. In the absence of rising stocks, it is hard to argue that the oil markets have lost their grip on reality.
Some claim that oil producers are in effect hoarding oil below the ground. But there is also little sign of that, either among companies or countries: all big exporters bar Saudi Arabia are pumping as fast as they can. "
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| Posted 8/6/08 10:26 PM |
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sunnyplus3
:)
Member since 11/05 8749 total posts
Name:
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Re: falling gas prices - conspiracy?
Prices plumeted in the fall of 06-right before election time, they fell again the end of 07 right before the big kick off to the primaries. Now with Obama clearly in the lead the prices are falling again. I'm 100% convinced the Republican party thinks people don't REALLY want Obama, but they think Bush is the cause of the economic troubles. If they could just get us to believe that oil prices are on their way down & McCain will let us drill for more oil if he's president, then surely he'll win. The oil companies are making record breaking profits...even at $4.00 per gallon, they can afford to lower the prices to please the US government.
T. Boone Pickens is making it known that he has an alternative plan figured out that would FREE us of the need for oil in the next several years. That is NOT what the oil companies, the US car makers & the good old boys Bush & cheney want to hear.
China has barely reduced its use & that is a front for the Olympics, when the event is over they will lift all of the traffic restrictions & go back to their dirty ways. India has not let up one bit on consumption.
81 percent of the $63 million in political contributions made by major U.S. oil companies since 2001 have gone to Republicans.
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| Posted 8/6/08 10:27 PM |
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sunnyplus3
:)
Member since 11/05 8749 total posts
Name:
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Re: falling gas prices - conspiracy?
And for the record, I think Obama is a socialist so don't think I'm a crazy democrat bashing all republicans.
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| Posted 8/6/08 10:31 PM |
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sunnyplus3
:)
Member since 11/05 8749 total posts
Name:
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Re: falling gas prices - conspiracy?
only two other things they can do to get the votes
1) pull bin laden of of their arses
2) invade Iraq because nobody would want Obama running the show if we were at war with them
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| Posted 8/6/08 10:41 PM |
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Erica
LIF Adult
Member since 5/05 11767 total posts
Name:
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Re: falling gas prices - conspiracy?
I definitely think speculation/hedge funds have a huge impact...just google "amaranth" and "natural gas" they can do serious damage in a very short time.
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| Posted 8/6/08 11:01 PM |
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Gertyrae
Peace out Homies!
Member since 5/05 20046 total posts
Name:
Gerty ®
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Re: falling gas prices - conspiracy?
I beleive it's all about consumption.
Every year gas and oil prices drop in August and September...consumption is down.
I lock in on my oil every year the last week of August/first week of September and always end up paying way less than other people I know.
I would love to beleive in the conspiracy theory, but history doesn't prove it...
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| Posted 8/6/08 11:04 PM |
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CookiePuss
Cake from Outer Space!
Member since 5/05 14021 total posts
Name:
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Re: falling gas prices - conspiracy?
Posted by Erica
I definitely think speculation/hedge funds have a huge impact...just google "amaranth" and "natural gas" they can do serious damage in a very short time.
Agree 100%!!!! I think speculation shouldn't be allowed on a resource that has such an impact. This isn't about corn, pork bellies, etc and farmers getting a fair price anymore.
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| Posted 8/7/08 8:31 AM |
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MrsFlatbread
Skinny jeans are in my future
Member since 6/06 10258 total posts
Name:
Baby Momma
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Re: falling gas prices - conspiracy?
Honestly, I paid only 3.99 a gallon yesterday and the last thing on my mind was a conspiriacy...I was just happy it only cost me $70 to fill my tank up instead of $80!!!
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| Posted 8/7/08 8:38 AM |
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