The other side of any "shortage" - real, contrived or imagined - is demand. US citizens represent must less than 4.5% of the world's population, but we still consume 20% of the world's gasoline. We are embarrassingly addicted to, and gluttonous of, petroleum.If not, there is only one thing causing the price of oil to rise, speculation in the markets, period. If you disagree please state your reason/s why.
Some people think it's our right to be gluttons.The other side of any "shortage" - real, contrived or imagined - is demand. US citizens represent must less than 4.5% of the world's population, but we still consume 20% of the world's gasoline. We are embarrassingly addicted to, and gluttonous of, petroleum.
World Motor Gasoline Consumption by Country (Thousand Barrels per Day)
www.indexmundi.com
Ok but you are not explaining what the other players do to influence the price of oil if there are no shortages? If there are no shortages why is oil rising?Another thread from this OP devoid of reality or even understanding that oil is a globally traded commodity with all sorts of players in the game from ground to in the gas tank across the planet.
Blaming this all on "speculation in the markets" is not only naive, but borderline intentionally dishonest.
Indeed.Some people think it's our right to be gluttons.
Husband thinks it is due to hysteria. I agree.If not, there is only one thing causing the price of oil to rise, speculation in the markets, period. If you disagree please state your reason/s why.
Ok but you are not explaining what the other players do to influence the price of oil if there are no shortages? If there are no shortages why is oil rising?
I don't recall blaming shell or bp for anything but you can correct me if I'm wrong. What I did blame was speculation in the markets, wall street, not big oil or these other players to which you keep referring.Again, oil is traded globally with price determined by a slew of factors... not just because of any one nation importing from / exporting to other nations.
You have created a very naive false dilemma that it is either shortages or speculation, excluding the possibility of a combination of the two as well as a combination of the two in concert with other factors. I don't know, like a world oil supplier invading another nation.
Oil markets, again internationally, are easy to spook one price direction or another. You add in Putin's temper tantrum and this is amplified.
Looking over the futures market for oil (which I used to do anyway) I can clearly see what is happening with supply / demand assumption over the coming half year at least impacted greatly by Russia having to look for other buyers and numerous nations changing their outlooks on buy sell arrangements.
You may politically, haphazardly, and rather foolishly say go target big oil and ignore all the other players but that is beyond asinine. The typical Elizabeth Warren rhetoric designed to mislead, as you are doing with this thread.
You of all people should know what happens with supply side faults (for any reason and for any amount of time) against economic gains where demand and supply do not line up. It leads to higher costs and higher profits *exclusively* because of econ 101 explanation of demand not changing when supply is (or even might.) Speculation has no choice but to reevaluate who is going to be a buyer and a seller on settlement day each month in concert with global movement of oil.
It is a new political bogeyman designed to ignore a real issue, when speculation has just as much power to decrease price as increase it assuming factors.
Those factors you care not to talk about and refuse to acknowledge.
Oh never mind, it is Shell and BP sticking it to the public... have fun selling that bullshit.
I don't recall blaming shell or bp for anything but you can correct me if I'm wrong. What I did blame was speculation in the markets, wall street, not big oil or these other players to which you keep referring.
Our biggest utilization of oil is transportation…and yes, a chunk of that is personal autos.The other side of any "shortage" - real, contrived or imagined - is demand. US citizens represent must less than 4.5% of the world's population, but we still consume 20% of the world's gasoline. We are embarrassingly addicted to, and gluttonous of, petroleum.
World Motor Gasoline Consumption by Country (Thousand Barrels per Day)
www.indexmundi.com
We should all be doing our part, everything we can do, every day. A good place to start would be no recreational use of fossil fuels.Our biggest utilization of oil is transportation…and yes, a chunk of that is personal autos.
Where should we make the cuts?
I think I've articulated it a couple of times already, speculation in the markets, you however disagree so I guess we're at a standoff but you still haven't really explained how 'other players' influence the price of oil when there are no shortages. The big oil producers like saudi arabia set a price they would like to get for a barrel of oil and because of differing factors that price moves around, sometimes they get more, sometimes they get less but mostly the price of a barrel of oil depends on speculation in the markets barring any shortages or wars or that kind of disruptive event.But you cannot articulate why, then pretend to win.
So, put the jet ski, dirt bike, snow mobiles, RVs, etc companies and associated repair shops and industries out of business?We should all be doing our part, everything we can do, every day. A good place to start would be no recreational use of fossil fuels.
Do we really need to be screaming through the woods on dirt bikes and snowmobiles? Do we really need to spin in circles on our Jet Skis?
Can we use a rake instead of a gas powered leaf blower? Can we shovel our driveway instead of powering up the snowblower?
These question can only be answered by the individual, but a little more respect for the environment, and the lives sacrificed to provide us with gasoline, could go a long way to reducing our consumption.
Yet somehow completely correct.Another thread from this OP devoid of reality or even understanding that oil is a globally traded commodity with all sorts of players in the game from ground to in the gas tank across the planet.
Blaming this all on "speculation in the markets" is not only naive, but borderline intentionally dishonest.
Speculation is how oil is priced.If not, there is only one thing causing the price of oil to rise, speculation in the markets, period. If you disagree please state your reason/s why.
I think I've articulated it a couple of times already, speculation in the markets, you however disagree so I guess we're at a standoff but you still haven't really explained how 'other players' influence the price of oil when there are no shortages. The big oil producers like saudi arabia set a price they would like to get for a barrel of oil and because of differing factors that price moves around, sometimes they get more, sometimes they get less but mostly the price of a barrel of oil depends on speculation in the markets barring any shortages or wars or that kind of disruptive event.
Speculation is how oil is priced.
Likely speculation about future shortage which might or might not turn out accurate is part of the story.If not, there is only one thing causing the price of oil to rise, speculation in the markets, period. If you disagree please state your reason/s why.
We have feet, we have sidewalks, we have a variety of cycles, we have roller skates all of which play a part in our transportation system. PARK our cars and use our feet, our sidewalks, pick a cycle or roller skates and begin cutting way back on the use of fossil fuels. We'll all be glad we did do this.speculation created by numerous spectators is the right answer because shortage of oil is not the problem.
inflating commodities aka duping the consumers is unethical.
Consumers one way to battle inflation is to stop shopping irresponsibly which will work. Elected officials are not going to do anything about it except offer political rhetoric to appease the voters who keep re-electing these bogus capitol hill inside trading crooks.
Bongsaway is not naive.
Healthier tooWe have feet, we have sidewalks, we have a variety of cycles, we have roller skates all of which play a part in our transportation system. PARK our cars and use our feet, our sidewalks, pick a cycle or roller skates and begin cutting way back on the use of fossil fuels. We'll all be glad we did do this.