$19.02 for a toggle switch!

That's the same logic that's having us pay $3 for a gallon of gas, while oil companies rack up unprecedented and obscenely huge profits.

Reply to
Tom S
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Lack of refining capacity might make the price of gasoline go up, but it would make the price of crude oil go down (lower the demand for crude oil, and the oil-producers won't be able to demand such high prices anymore). Since the price of oil has been going up as well, the only logical conclusion is that not enough crude oil is being produced.

Reply to
m4rcone

Sad fact is that the price of oil is decided by a few people in some offices and has very little to do with supply and demand.

My best guess is they throw a dart and where it lands is the price of oil this week. < LOL>

The Bush family IS in oil, and with no chance to be re-elected after a second term anyway, guess who&#39;s going to make sure he has a nice "retirement package" set up after the next election. So don&#39;t hold your breath that the "powers that be" will do anything other than provide lip service.

At best,....as winter approaches they "may" subsidize heating oil and natural gas, to keep people from rioting in the streets to stay warm.

AMUN

Reply to
Amun

riiiight. $70/barrel == $35/barrel Must be that new math.

Reply to
AZ Nomad
  1. Tom S Aug 26, 3:18 pm show options

Newsgroups: alt.home.repair From: "Tom S" - Find messages by this author Date: Fri, 26 Aug 2005 19:18:31 GMT Local: Fri, Aug 26 2005 3:18 pm Subject: Re: $19.02 for a toggle switch! Reply | Reply to Author | Forward | Print | Individual Message | Show original | Report Abuse

"That&#39;s the same logic that&#39;s having us pay $3 for a gallon of gas, while oil companies rack up unprecedented and obscenely huge profits."

If people stopped buying huge SUVs getting 12 MPG (like the one my brother bought), the cost of gas would go down. You don&#39;t like the price of gas? Get a fuel efficient car and it won&#39;t matter as much! We as a country squander resources at enormous rates, then gripe about the cost. We have huge houses, huge vehicles, and live in a throw away society.

My company service truck only gets 12 MPG, but I need a large vehicle to carry all the stuff I need to take care of my customers. My family car gets better fuel economy, and when the kids move out, we will get a still smaller car! You just want someone else to pay for your wasteful habbits.

Stretch

Reply to
Stretch

Amun wrote: ....

The actual facts are that oil prices are set on the open markets and currently are mostly controlled by two factors--increased demand markedly influenced by rapid growth/exapnsion in China and India and the rest of SE Asia and speculation based on current events and inflexibility in both the producing a supply side. The latter effect is readily observable simply by paying attention to the high correlation in prices to world events and even things as small as threat of loss of production owing to such events as hurricanes in the Gulf. While in theory the loss of gasoline refinery capacity for a short time shouldn&#39;t matter (in fact, reduce demand for crude), it can be noted that in the present speculative mode crude also tends to rise rather than fall.

The price of crude oil is set by movements on the three major international petroleum exchanges--

- New York Mercantile Exchange (NYMEX,

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- International Petroleum Exchange in London (IPE,
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- Singapore International Monetary Exchange (SIMEX,
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The significance of the Bush family in the global oil markets is absolutely inconsequential. They&#39;re nickel and dime players even in the US. (Not that I wouldn&#39;t like a few of the nickels and dimes, but reality is they just are not a sizable factor in the overall oil business).

The problem is that your omnipotent "powers that be" simply aren&#39;t...the primary problem in the US continues to be the stranglehold on expansion of domestic production (including exploration but primarily refining capacity) owing mostly to environmental regulation and the "not in my backyard" siting problems.

There&#39;s another problem of unintended consequences--the tightness of supplies of natural gas is largely owing to the high conversion to gas for producing electricity in order to reduce coal usage. This was one of Al Gore&#39;s brilliant ideas (actually I doubt if it was Al&#39;s idea, I don&#39;t think he&#39;s ever had one, but it was a strategy he was a major proponent for)...

Reply to
Duane Bozarth

Only inside your pea brain. No one claimed $70 = $35.

Turn off your damned computer and pick up a WSJ.

Reply to
Tom S

Can you name them?. Why do they set prices instead of the New York Mercantile Exchange and other commodity exchanges? Thanks.

-- Doug

Reply to
Douglas Johnson

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