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About This Page: This is a discussion on Politics within the LetsGoKings.com forums, at Los Angeles Kings Hockey Fan Forum. When my wife and I go have a burger in the plane on the weekend it's called a $100 burger....but realy soon here if someone doesn't get a handle, it's
When my wife and I go have a burger in the plane on the weekend it's called a $100 burger....but realy soon here if someone doesn't get a handle, it's going to be a $100 hockey game every other night...And that's before you get to the pretzels!
Crazy times, especially with the dollar being so low. Everything we buy is going to be $$$$
As to the issue of crude oil this is the key. Huge "institutional funds" and the like (which includes Calpers from what I understand) are putting their money into crude oil, hence driving the price up. They need somewhere to put their funds instead of the dollar since it is doing so bad. So the price of crude is really speculative as I've read that the real price shouldn't be any higher than $80/barrel or even less. Expect a "crash" in oil prices at some point....what the effects of this will be on Common Joe I don't know.
This situation is similar to the stock market in the late 90s and the recent crash in real estate. People are jumping from one misguided speculation to another it seems.
jom
__________________ Old men's room wall saying: Flush hard, it's a long way to Washington
As to the issue of crude oil this is the key. Huge "institutional funds" and the like (which includes Calpers from what I understand) are putting their money into crude oil, hence driving the price up. They need somewhere to put their funds instead of the dollar since it is doing so bad. So the price of crude is really speculative as I've read that the real price shouldn't be any higher than $80/barrel or even less. Expect a "crash" in oil prices at some point....what the effects of this will be on Common Joe I don't know.
This situation is similar to the stock market in the late 90s and the recent crash in real estate. People are jumping from one misguided speculation to another it seems.
jom
Yes, I heard this also that oil is like what house prices were 1 1/2 years ago...but the difference I think is that if the oil prices every "crash" to a more respectable $80-85 a barrell, we won't see it go down for what 2-3 months?! But tomorrow, gas will be up 5-6 cents. And another thing that kinda boggles my mind is Diesel and AvGas. It's takes nearly 10 steps less to make either, but both are almost $1 more than 87 octane. All the while companies, and the Bush's, post record profits!!!!
Yes, I heard this also that oil is like what house prices were 1 1/2 years ago...but the difference I think is that if the oil prices every "crash" to a more respectable $80-85 a barrell, we won't see it go down for what 2-3 months?! But tomorrow, gas will be up 5-6 cents. And another thing that kinda boggles my mind is Diesel and AvGas. It's takes nearly 10 steps less to make either, but both are almost $1 more than 87 octane. All the while companies, and the Bush's, post record profits!!!!
I've been wondering that about diesel was well. I've seen diesel fuel selling for $5.00 a gallon.
I've been wondering that about diesel was well. I've seen diesel fuel selling for $5.00 a gallon.
Maybe some "entity" is buying futures at higher rate?
Economics seems to be less influenced by supply and demand than it is speculation these days. Ever since the stock market crashed everyone wants to jump on the next "tulip bulb" frenzy.....
Maybe some "entity" is buying futures at higher rate?
Economics seems to be less influenced by supply and demand than it is speculation these days. Ever since the stock market crashed everyone wants to jump on the next "tulip bulb" frenzy.....
Maybe some "entity" is buying futures at higher rate?
Economics seems to be less influenced by supply and demand than it is speculation these days. Ever since the stock market crashed everyone wants to jump on the next "tulip bulb" frenzy.....
jom
You're exactly right about supply and demand not driving price....
Whats interesting is prices are now at a level where Shale Oil extraction is doable and the United States and Canada have the largest known reserves on this front. There was much excitement about Shale Oil possibilities in the 1980's but extraction proved to expensive at the time. The oil companies did extensive research and they figured if Oil was continually above $90 a barrel, than this source can come into play. I wonder what developements are being made on this front.
__________________ University of Denver Hockey...lets bring it home boys!
FlyinKIng
Crude Oil Hits New High Near $114; Gas Also at Record 
