Seriously... Gas... WTF?

[SicShelby]

Fuck the oil companies in general

 

Haha +1. If elections are driving fuel prices we should have fucked up elections EVERY year. YAY!!

[LJ]

Fuck the oil companies in general

 

Hey fuck you too!

[2 Sweet]

Anything over a buck is rape, and I won't be content until it's down that low again.

 

I agree times ONE THOUSAND GABILLION

[LJ]

Remember that spot crude that is bought and sold at a spot price (most major oil companies) that the price is determined by a 30 day moving average. So Crude sold at this moment is going for $96.13

[OSUGT]

Define Irony...."guy with 40k+ car starts thread to bitch about gas prices going down"

[Putty]

Hey fuck you too!

 

 

Easy, tough guy!

[El Karacho1647545492]

OPEC has very little to do with the price of oil. During the past few years where prices have skyrocketed, OPEC has consistently increased their production of oil by about half a million barrels every year. The gouging comes stateside when our expensive refineries ship all the cheap cheap diesel overseas to Europe on the cheap, then turn around and jack up the price of unleaded to sell to our gas guzzlers.

[BIG SHAFE]

Can't have hyperinflation when all the currencies your money is printed against are in the same boat

 

But if other countries that hold our dollars were to get rid of them, by pouring them back into circulation, it would certainly devalue the dollar. Not to mention all of the money to be printed for all of the bailouts.

[LJ]

But if other countries that hold our dollars were to get rid of them, by pouring them back into circulation, it would certainly devalue the dollar. Not to mention all of the money to be printed for all of the bailouts.

 

 

COULD happen, but that is a less likely scenerio as all the other countries are going to be in the same situation as us. If this was JUST the U.S. going through this, then yes, hyperinflation out the ass... but in the actual real situation we are in, we may actually see a long period of deflation.

[87GT]

OPEC has very little to do with the price of oil. During the past few years where prices have skyrocketed, OPEC has consistently increased their production of oil by about half a million barrels every year. The gouging comes stateside when our expensive refineries ship all the cheap cheap diesel overseas to Europe on the cheap, then turn around and jack up the price of unleaded to sell to our gas guzzlers.

 

QFT

[mmrmnhrm]

...but in the actual real situation we are in, we may actually see a long period of deflation.

Ladies and gentlemen, we have a winner. Deflation is what is making Paulson and Bernanke shit their pants, wet their beds, and go hiding in a corner at night.

[BIG SHAFE]

COULD happen, but that is a less likely scenerio as all the other countries are going to be in the same situation as us. If this was JUST the U.S. going through this, then yes, hyperinflation out the ass... but in the actual real situation we are in, we may actually see a long period of deflation.

 

It will hurt us more for many reasons.

 

One, because we are a consumption country. Over 70% of our GDP is consumption. You can only consume so much. We produce much less, nearly on a daily basis.

 

Two, Asian countries have much higher levels of production. We are inflating to price fix the costs of homes, which is obvious the market is rejecting.

 

Three, we have large deficits. We have large government spending deficits, with record deficits expected for next year, and trade deficits.

 

Four, we our military is spread all over the world costing nearly $1 trillion to sustain. That does not account for the Iraq war either. Not to mention very little of our military is here to really protect us.

 

Five, we have spread ourselves very thin and on top of that are devaluing our dollar. Look to the fall of Ancient Rome, Germany in the 1930's, Zimbabwe currently and past few years, even the Continental currency during the revolution. All have strong similarities to what we are doing.

 

Six, countries like China and Saudi Arabia loan us money. They have savings while we as a country live on credit. Even recently the Chinese government is telling their banks not to lend to us. If they have money to lend and we don't, who is going to be hurt more? Link

 

No way we will see deflation, we will have inflation (which will increase more rapidly) by the very definition of the word. Definition Where is the $700 billion bailout, the previous approximate $700 billion bailout, and the $25 billion bailout money coming from? Our country is $9 trillion in debt but yet we are putting money into the economy, we are doing that by printing money, which by definition is inflation. We are going to inflate much faster because of not only bailing out companies but we are taking on bad debt.

 

We have unsound monetary policy and as history has shown, all fiat money eventually ends.

[SicShelby]

Define Irony...."guy with 40k+ car starts thread to bitch about gas prices going down"

 

Granted. I'm complaining because I don't understand why minor turn of events seem to dictate the rise and fall of gas prices, not because of the car I drive. I don't drive the Shelby every day.

 

I have a Toyota dd and I still get pissed off every time I drive past the pump. I would be aggravated if I took a freegan moped to work.

 

But I can see the irony.

[351mach11647545510]

Hell yeah. I've used at least 2-1/2 tanks this past weekend driving almost 1000mi.

werd. i've put 1400 miles on my truck the past 2 weeks just because i can.

[LJ]

It will hurt us more for many reasons.

 

One, because we are a consumption country. Over 70% of our GDP is consumption. You can only consume so much. We produce much less, nearly on a daily basis.

 

Two, Asian countries have much higher levels of production. We are inflating to price fix the costs of homes, which is obvious the market is rejecting.

 

Three, we have large deficits. We have large government spending deficits, with record deficits expected for next year, and trade deficits.

 

Four, we our military is spread all over the world costing nearly $1 trillion to sustain. That does not account for the Iraq war either. Not to mention very little of our military is here to really protect us.

 

Five, we have spread ourselves very thin and on top of that are devaluing our dollar. Look to the fall of Ancient Rome, Germany in the 1930's, Zimbabwe currently and past few years, even the Continental currency during the revolution. All have strong similarities to what we are doing.

 

Six, countries like China and Saudi Arabia loan us money. They have savings while we as a country live on credit. Even recently the Chinese government is telling their banks not to lend to us. If they have money to lend and we don't, who is going to be hurt more? Link

 

No way we will see deflation, we will have inflation (which will increase more rapidly) by the very definition of the word. Definition Where is the $700 billion bailout, the previous approximate $700 billion bailout, and the $25 billion bailout money coming from? Our country is $9 trillion in debt but yet we are putting money into the economy, we are doing that by printing money, which by definition is inflation. We are going to inflate much faster because of not only bailing out companies but we are taking on bad debt.

 

We have unsound monetary policy and as history has shown, all fiat money eventually ends.

 

http://www.voxeu.org/index.php?q=node/2384

http://www.bloggingstocks.com/2008/10/06/inflation-thats-bad-deflation-thats-worse/

 

Once again, I will say this... if the U.S. was the only country seeing the effects, we would have inflation, since that is NOT the case, and China has NOT called any loans, we risk deflation more than anything else.