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Old 03-29-2012, 08:18 PM   #2549
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All Keystone Canadian oil is exported & will be exported. The pipeline isn't for the US consumption. The price of gas has nothing to do with supply & demand & everything to do with Wall Street & speculation on the market. We have an excess supply of oil but the price is going up to maybe $5 a gallon by this summer but there's plenty of oil.
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Old 03-29-2012, 08:28 PM   #2550
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$4.19 a gallon today in Lapeer Michigan.
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Old 03-30-2012, 05:29 AM   #2551
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Originally Posted by silverwoman View Post
All Keystone Canadian oil is exported & will be exported. The pipeline isn't for the US consumption. The price of gas has nothing to do with supply & demand & everything to do with Wall Street & speculation on the market. We have an excess supply of oil but the price is going up to maybe $5 a gallon by this summer but there's plenty of oil.
Just curious how you arrived at this conclusion? I keep hearing how the speculators are all to blame, but it all seems to be just someone's opinion.
There's $.50 a gallon price difference just driving across Missouri.
I would think Keystone would at least help in keeping some $$$ in Canada vs Iran, and there has to be some cost in shipping it to Europe, or bringing it here from the Middle East. You'd think there would be some price break if it didn't need to be shipped across the world, but who knows. So much of the news any more is just someone's spin, or agenda..
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Old 03-30-2012, 07:54 AM   #2552
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HowStuffWorks "How does oil speculation raise gas prices?"
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Old 03-30-2012, 08:59 AM   #2553
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Old 03-30-2012, 11:34 AM   #2554
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I think the higher the demand vs. present supplies of oil in the world market, the more opportunity for speculators to capitalize on potential shortages. Both affect the price. It is a tight market and therefore, tying up supplies causes quick jumps in price allowing speculators to cash in, over and over. Buy futures low, price rises, sell, price drops, buy again, price rises, sell… The guys that are good at this make money more than they lose. Every threat of a war against Iran boosts prices. A conflict in the Middle East (Syria for ex.) causes fear and that raises prices. If the Chinese economy slows down, prices drop, but a few days later a positive report from China increases prices.

At present, supply exceeds demand in the Rocky Mountain states and prices have been lower here, but as demand picks up in the spring here, the difference is narrowing. During winter, retail prices here were lower than wholesale prices on the New York exchange that trades gasoline futures (NYMEX), but now they have reversed, though local retail prices are still a bit lower than the rest of the US.

People in rapidly developing Asian countries want what we have—lots of cars. Demand will increase and supplies of oil are not expanding as fast. Opportunity for speculation increases as well. Speculation can be reduced if politics does not continue to block it, but demand cannot be changed unless people switch to alternative fuels for everything to reduce demand. Politics gets in the way of that too. Watch where political donations from oil companies go to see how that works.

There is a measure before a government regulatory agency, the Commodity Futures Trading Commission, to reduce speculation, and it should reduce speculation, especially by Wall St. investment banks, if it were adopted. It has been tied up in politics.

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Old 03-30-2012, 12:11 PM   #2555
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I tried to open Used Car Lot with no address, then buy cars that I never had to take possession of so I could sell them at a profit when the market improved.

The Bank said it wasn't viable business model.

Bob
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Old 03-30-2012, 01:13 PM   #2556
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Corona, California, $ 4.33 regular, per gallon.

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Old 03-30-2012, 01:18 PM   #2557
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I tried to open Used Car Lot with no address, then buy cars that I never had to take possession of so I could sell them at a profit when the market improved.

The Bank said it wasn't viable business model.

Bob
Then the bank financed their own bank used car lot with the same idea and made billions.

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Old 03-30-2012, 01:42 PM   #2558
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Close Gene, the banks are fully invested in oil futures right now and don't have the capital to fund a virtual used car lot.
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Old 03-30-2012, 02:13 PM   #2559
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$ worth Nothing

Oil is marketed on the US dollar which has been dropping in value - hence it takes much more of them to do anything. I think Ron Paul said you can still buy a gallon of gas with a thin dime minted in the 1950s. Our federal reserve notes pretty soon wont be worth the paper they're printed on. OMHO. Sal.
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Old 03-30-2012, 04:57 PM   #2560
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Quote:
Originally Posted by silverwoman
All Keystone Canadian oil is exported & will be exported. The pipeline isn't for the US consumption. The price of gas has nothing to do with supply & demand & everything to do with Wall Street & speculation on the market. We have an excess supply of oil but the price is going up to maybe $5 a gallon by this summer but there's plenty of oil.
So what you're saying is that we need to buy gas and, since the market is unregulated, they can charge whatever the market will bear? Go figure.
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Old 03-30-2012, 06:38 PM   #2561
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Originally Posted by silverwoman
All Keystone Canadian oil is exported & will be exported. The pipeline isn't for the US consumption. The price of gas has nothing to do with supply & demand & everything to do with Wall Street & speculation on the market. We have an excess supply of oil but the price is going up to maybe $5 a gallon by this summer but there's plenty of oil.

POI...The Keystone is already in place....The Keystone XL has been stopped by US.

All Keystone oil is exported? I think that's rong.

Keystone Pipeline System:

"In June 2010 TransCanada commenced commercial operation of the Keystone Pipeline. Keystone's first phase was highlighted by the conversion of a natural gas pipeline to a crude oil pipeline and construction of an innovative bullet line that brings the crude oil non-stop from Canada to market hubs in the U.S. Midwest.

The Cushing Extension was an extension of Keystone from Steele City, Nebraska to Cushing, Oklahoma and began operations in February 2011. The 36-inch pipeline connects to storage and distribution facilities at Cushing, a major crude oil marketing/refining and pipeline hub."

To learn more about phase 1 and 2 of the Keystone Pipeline System please visit the Keystone operations website.

Bob
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Old 03-30-2012, 08:24 PM   #2562
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do I hear $5: filled up our car, which takes super today, $4.90.9 for super, Stewart's Point CA. I wonder if this is the highest in the US?
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