Oil and Gasoline Fall as Fuel Price Hikes Slow Demand Growth

[FromTexas]

HIS

The thread

People can form their own opinions.

Your 1st post in this thread showed its intention.

Actually, no. Gas rationing refers to a government mandated limit on the amount of gas people are allowed to use. It never happened. Because your local supplier doesn't want to give you more gas, if it really ever happened, that is not rationing. That is conservation... probably with the hope that the gas they already have bought will be worth more next week so they will conserve it. The only time it is rationed is when it is dictated by higher powers you can not use more than a certain allotment.

I tried to meet you halfway and agree you heard it and take your view of what rationing should be but they were just panicing. However, if I have to spell out the misunderstanding from your side completely, I can. Simple fact -- gas supplies were fine, no mandated rationing, no long lines, and nobody should have paid the prices they did for what was already bought gasoline by both suppliers and stations. It was panic.. nobody here has demonstrated otherwise. All they have shown is that some supplier may have paniced or devilously planned to conserve for higher prices which reflected no shortage.

BOING!

 

[Bruzilla]

I can't make much sense of what this reporter is talking about. "Crude oil fell and gasoline plunged to a one-month low on signs that record fuel prices are slowing growth in global energy demand." Where did gas prices drop down to a one-month low? Since when is 4.1% a "plunge", especially at a time when we expect to see prices go down? He then goes on to state how there's no shortage of crude. Based on his reporting I think it's pretty clear that we saw a severe upswing in price based on panic and speculation about Katrina damage, and a slight drop resulting from the news that the damage wasn't all that bad and the end of the summer driving season, and that the drop in price doesn't have dickety-doo to do with decreased demand due to prices.

I think it's time to don our conspiracy theorist's aluminum foil caps and look at this published view being someone trying to make the case that lowering our demand for fuels, i.e., parking the SUVs, will lower the cost of gasoline. I sure haven't seen any drop in the number of vehicles on the road down here, and there are just as many trucks and SUVs as ever. If there were all this lowered demand I would expect to see a lot more of a price reduction than an amount that's barely autside the margin of error.

 

[kwillia]

Good grief, FT. Call it what you will. The supplier had a limit of what they were delivering. They made a rotation schedule for delivery. The station we fuel at ran out because of this rotation schedule. I haven't a clue why you want to argue about it.

 

[kwillia]

I parked my Z71 Suburban. I'm driving my sedan back and forth now and I figure I'm saving myself about $60 a week in fuel cost with the prices the way they are now.

 

[FromTexas]

Good grief, FT. Call it what you will. The supplier have a limit of what they were delivering. They made a rotation schedule for delivery. The station we fuel at ran out because of this rotation schedule. I haven't a clue why you want to argue about it.

Well if people want to still believe a problem existed when it never did, that is fine.

 

[kwillia]

Well if people want to still believe a problem existed when it never did, that is fine.

Thank you for permission... I hope you don't make your wife work this hard for it...

 

[FromTexas]

See - I knew your crap comment was nothing more than a poke and pick at my husband's thread. You can go back into that thread and read the articles posted. They mentioned various places where there were lines, where there was no fuel delivered. Temporary or otherwise, it was rationed nomatter what excuses you want to make.

Also, nobody had a clue that things were going to be just fine a week later (not 2-days later) and that it wasn't as bad as they thought.

Gas prices are still not back to the price they were before Katrina.
.

Was I trying to hide where it was directed at? You are a regular Sherlock Holmes. I thought it was rather obvious myself. I don't try for the subtle like you.

Let's make it simple. At this point you still can't agree that Bogart and others were right... it was just panic and rumor mongering that exacerbated the problem and not a true supply issue. Keep debating if you want. Events have shown otherwise.

Also, it was 2 (maybe 3) days later. Prices spiked around $3.30-$3.50 around here and by Labor Day they were back down around $3.05-$3.15 and have been dropping since. They still shouldn't even be this high, but they got you happy about it dropping so they can rake in some more off it.

 

[Kizzy]

I thought it was rather obvious myself.

At least we agree on something.

I don't try for the subtle like you.

If something is so slight as to be difficult to detect or describe, a person will sway it to be what they WANT to see.

Let's make it simple. At this point you still can't agree that Bogart and others were right... it was just panic and rumor mongering that exacerbated the problem and not a true supply issue. Keep debating if you want. Events have shown otherwise.

Ok

 

[soul4sale]

Speaking of which, did you notice that the same media that was hyping big time the "fact" that there was a "real possibility" that production from the area was going to be "out for months" is ducking any responsibility for panic buying and high prices as we now learn that production will be back to normal before the end of Oct?

No, I notice that we're going to be back to normal by October, because the media put the burn to the industry, especially refiners who were making a fat profit off the "shortage."

The best prophecies of impending doom are the ones that never come true.

 

[czygvtwkr]

Walmart is out of twinkies and they said they won't get anymore until Tuesday, they are rationing twinkies!!!

 

[Bruzilla]

No, I notice that we're going to be back to normal by October, because the media put the burn to the industry, especially refiners who were making a fat profit off the "shortage."

Who in the media, besides Bill O'Reilly, is doing that?