


John from Boston
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Enigma869 wrote:Dow down 752 points as of 2:50 this afternoon! Holy fuck! Looks like that bailout is restoring full confidence in the market![]()
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John from Boston
Enigma869 wrote:Dow down 752 points as of 2:50 this afternoon! Holy fuck! Looks like that bailout is restoring full confidence in the market![]()
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John from Boston
RossValoryRocks wrote:I heard one economist say 8400 is a possibility for the bottom of this thing!
Enigma869 wrote:Dow down 752 points as of 2:50 this afternoon! Holy fuck! Looks like that bailout is restoring full confidence in the market![]()
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John from Boston
I don't think they can drop the prices all at once until they recoup what they already have invested in the wells. But I'm certainly no expert.Enigma869 wrote:On another note, how is it that crude oil is down 40% and the prices at the pump have only gone down about 12%? Fucking gouging sucks!
Enigma869 wrote:On another note, how is it that crude oil is down 40% and the prices at the pump have only gone down about 12%? Fucking gouging sucks!
Saint John wrote:I don't think they can drop the prices all at once until they recoup what they already have invested in the wells. But I'm certainly no expert.Enigma869 wrote:On another note, how is it that crude oil is down 40% and the prices at the pump have only gone down about 12%? Fucking gouging sucks!
Thanks for the explanation, Stu.RossValoryRocks wrote:Saint John wrote:I don't think they can drop the prices all at once until they recoup what they already have invested in the wells. But I'm certainly no expert.Enigma869 wrote:On another note, how is it that crude oil is down 40% and the prices at the pump have only gone down about 12%? Fucking gouging sucks!
No the price of gas is weeks behind the price of oil on the downside...on the upside it is almost immediate...and the refineries aren't all back on line yet...so the market is a little tighter than the oil...
Saint John wrote:Someone should post a graph of the stock market form its inception and it clearly demonstrates a steady upward climb in a straight line that went horribly askew in an upward pattern over the last 15 or so years. This correction seems to be pretty natural.
Saint John wrote:Thanks, Gunbot. If it corrects to where it should be, we'll see it about 4,000. That would be funny as hell.
Rhiannon wrote:Enigma869 wrote:On another note, how is it that crude oil is down 40% and the prices at the pump have only gone down about 12%? Fucking gouging sucks!
I'm not totally for sure, but I think when barrel prices drop or go up or anything like that it has to trickle down and could take a week or so before we see the effects at the pump.
Luvsaugeri wrote:Rhiannon wrote:Enigma869 wrote:On another note, how is it that crude oil is down 40% and the prices at the pump have only gone down about 12%? Fucking gouging sucks!
I'm not totally for sure, but I think when barrel prices drop or go up or anything like that it has to trickle down and could take a week or so before we see the effects at the pump.
This is what I have never understood. When the prices go down, they say it takes a few weeks for it to go down at the pump. But when the prices go up, you can bet the price at the pump will jump .20 the very next day!!
Rhiannon wrote:I believe the quicker jumps are attributed mostly to supply/demand paranoia.
Enigma869 wrote:Rhiannon wrote:I believe the quicker jumps are attributed mostly to supply/demand paranoia.
The rapid price increases are directly attributable to station owners, who never delay a second when opportunity presents itself to jack up the price. As soon as the media is reporting a hurricane or crude oil price increases, your local Exxon station jacks the price up within 20 seconds (sooner if they can find someone to make the change)! The reality is that the gas they have in the ground was purchased for whatever the market rate was the day it was delivered. They simply want any excuse they can to jack prices up!
John from Boston
Enigma869 wrote:Rhiannon wrote:I believe the quicker jumps are attributed mostly to supply/demand paranoia.
The rapid price increases are directly attributable to station owners, who never delay a second when opportunity presents itself to jack up the price. As soon as the media is reporting a hurricane or crude oil price increases, your local Exxon station jacks the price up within 20 seconds (sooner if they can find someone to make the change)! The reality is that the gas they have in the ground was purchased for whatever the market rate was the day it was delivered. They simply want any excuse they can to jack prices up!
John from Boston
conversationpc wrote:I'm not so sure that really matters in the end since gas stations make very little, if any, profit on selling gas. Their profits come mostly from the convenience items they sell inside the store.
Enigma869 wrote:I worked for an Exxon station for 4 years while I was in college, and am somewhat familiar with the way things work. In spite of what station owners tell you (they are ALWAYS crying poor mouth), they are absolutely making money on every gallon they pump. What they also don't tell a lot of people is that the larger chains all get kickbacks, based on the volume of gallons pumped! Also, if they have 10,000 in the ground that they paid $3.25 a gallon for, and crude oil prices go up, they usually increase the retail price, IMMEDIATELY, in spite of the lower cost they paid for the supply, on hand. It's not unusual in a volatile market for station owners to be pocketing a whole lot of money, per gallon, during price increases! The one thing I know about business is that nobody is losing money for very long. Once they start bleeding money, the shop is closing, because it cannot sustain itself!
You see a depression...I see an opportunity.conversationpc wrote:Saint John wrote:Thanks, Gunbot. If it corrects to where it should be, we'll see it about 4,000. That would be funny as hell.
Funny? That would basically mean a depression here and economic problems worldwide.
Saint John wrote:You see a depression...I see an opportunity.conversationpc wrote:Saint John wrote:Thanks, Gunbot. If it corrects to where it should be, we'll see it about 4,000. That would be funny as hell.
Funny? That would basically mean a depression here and economic problems worldwide.
fredinator wrote:I remember slucero predicting ALL of this 6+ months ago... I wonder what he sees in his crystal ball for the future? (Slucero--if it's a freight train--sigh, I guess go ahead and say so...)
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