When will the BS end.......?
http://www.independent.co.uk/news/business/news/oil-price-passes-80-for-first-time-in-a-year-1806215.html
"The oil price is not really following demand and supply signals," said David Hunter, an analyst at the independent energy consultancy McKinnon & Clarke. "The increases this month are related to signs of economic optimism, especially in the US, as well as a weaker dollar price and seasonal increases in demand for fuel."
Uh huh.
http://www.google.com/hostednews/ap/article/ALeqM5i4_q7DtiEHvUTVNlJoaJ9ufkd1kgD9BFMHGO0
Wednesday's lift was provided by a weak dollar and
government oil inventory data showing a sharp drop in gasoline
supplies and a smaller-than-expected rise in crude oil stocks.
There is usually a lag between the direction of crude bought and sold on Nymex and the price that people pay for gasoline to fill up their cars.
Only when the prices drop is there this "lag". There is no lag, however, when the prices go up. That amazingly occurs and becomes visible at the pumps, overnight.
"Crude and products futures fell in heavy overnight volume
as the dollar strengthened against the euro," Addison
Armstrong, analyst at Tradition Energy in Stamford,
Connecticut, said in a note.
Oh so it's the dollar against the euro, now? Must add that one.
Oil prices hit new highs for the year Wednesday just as the dollar fell to new lows against the euro, showing how much the weak U.S. currency has come to dominate energy markets.
The run-up in prices came within minutes of a government report showing that crude supplies in the United States are growing and that refiners are producing very little gasoline because consumers aren't using as much.
Then why do we have a shortage, if we're not using as much?
The oil producers' cartel, Opec, reacted to the rise by cautioning against further increases. The head of Opec, Abdallah Salem el-Badri, said an oil price of more than $80 risked damaging any burgeoning economic growth.
But, wasn't it you, OPEC, who cut supplies in half when fuel prices were down around the $40/barrel range. But now they caution everyone against further increases. YOU CUT supplies in half earlier this year, or are you assuming we surely forgot about that by now? Not happening, thanks to the Double Standard Fuel Price Excuse List! #21 - #25 added. More to come!
Excuse Tracker for reasons that gas prices increase:
1. Winter months, heating
2. Hurricane in Gulf of Mexico
3. Manufacturing demands by industrial nations, i.e. China
4. Americans and SUVs
5. Market speculation
6. March and April "pressures on refineries"
7. Tensions in Middle East
8. A whale died in the Atlantic
9. A turtle sneezed in the Pacific
10. Global warming
11. Pollen levels
12. Jupiter's red spot
13. The dog ate it.
14. Gas prices take a while to come down because the stations are still selling what they bought at the higher prices
15. Gas prices take no time at all to skyrocket overnight, because reason #14 doesn't apply the other way around.
16. Oil up to pay for alternative resource research
17. Because OPEC says so!
18. A special summer blend is more expensive than the winter blend, as it uses special ingredients! But I thought it was higher in the winter because of the heating demands?
19. Summer vacation, kids are off! And since they all drive cars, this makes total sense!
20. Memorial Day weekend and Independence Day, even tho it's still May and that's in July.
*NEW*
21. Weak dollar causing gas prices to rise
22. Strong dollar gets it back under $80
23. Fuel supply shortage (because OPEC cut the supply in half, right?)
24. Dollar against the Euro
25. See #1 - winter heating, as it got cold in some parts of the U.S. in October, thanks to...global warming?
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