Truckers

[Jason1212]

Fett this is a time where your knowledge can be most beneficial. Why, how does the futures market work for petroleum? I somewhat understand for crops, but petroleum isnt seasonal. How do they make money on the futures for petroleum? Are they betting on how much is going to sell or how much is going to be produced.

[Thrust]

*edit* nevermind....i need to remind myself to stay out of i-net political stuff

[anuske9]

Sorry but I dont believe this. The tax breaks are 18 billion. Id take an 18 billion loss to get 145 billion in profits. What were the gas prices at the pump when oil was $75 a barrel?? They were $3 bucks a gallon or so. Now we come to $109 barrel and where are the prices?? Around $3 bucks maybe a tad more. Sorry but Im not believing what I am being told. Someone is a liar.

eh, you are assuming that the only factor upon the price of gas is how much a barrel of oil is...

The first factor would be supply, then it would be a lag in the market (usually 2-3 weeks) for the price of gas to mirror any moves, and then there's variability in the place that you live. The average gas price last year at this time was 2.69, now it's 3.30. This is where I would tell the price of a barrel this time last year, but apparently google and cnbc don't know?!?!? I couldn't find a chart to save my life... w/e. I found one.. http://futures.tradingcharts.com/chart/CO/M

[anuske9]

Fett this is a time where your knowledge can be most beneficial. Why, how does the futures market work for petroleum? I somewhat understand for crops, but petroleum isnt seasonal. How do they make money on the futures for petroleum? Are they betting on how much is going to sell or how much is going to be produced.

There is a season for petroleum.. Summer is a high point, winter is a low point. And it's the opposite generally for natural gas.

[lerxstcat]

I think if oil company CEOs started getting shot on a large scale they'd start to get the idea. If they don't get with cutting profits for the sake of the nation they should be nationalized. Not like that's gonna ever happen.

[åron]

Go see There Will Be Blood. Then wait a couple weeks and watch it again. That movie says a lot about the US and its relationship with oil, but not in any overt way. Good visual flick that relies on the viewer to connect the dots and find the meaning (for me that took 2 screenings).

Oil runs the world. That statement is true on several levels. I don't know what can be done. Oil isn't happy about Chavez nationalizing the infrastructure in Venezuela, so WE aren't happy with Venezuela. What Oil wants, Oil gets and the only time citizens realize the truth is when prices go way up. We're stuck.

[fett]

Fett this is a time where your knowledge can be most beneficial. Why, how does the futures market work for petroleum? I somewhat understand for crops, but petroleum isnt seasonal. How do they make money on the futures for petroleum? Are they betting on how much is going to sell or how much is going to be produced.

Futures 101. The whole concept of buying or selling Futures was a way for farmers to spread out their risk. It's kinda complicated. Then you have the floor traders that buy when others are selling and vice versa. They trade on their own ability to be "The other side". They make money and they lose money. Here is the disfunction. These guys are just trading with each other now. It's a game to them and serves no economic function. They just play on fear; news; and BS. If you eliminated the Futures Market on oil, The price would crash. It costs $3 to pull up a barrel of oil. The shipping $10. The refining $7. The taxes $5. I'm making those numbers up. But my point is that there is a tremendous amount of BS dollars with oil at $111.

[Pigsnatcher]

I think if oil company CEOs started getting shot on a large scale they'd start to get the idea. If they don't get with cutting profits for the sake of the nation they should be nationalized. Not like that's gonna ever happen.

My wife tells me I'm crazy when I say that...... Enough of the school shootings....if you must shoot someone then do us all some good!

[straycat]

Being a trucker I have seen less independent owner/operators out there.I drive for a company so I have to run.
I went thru a strike in the late 70's and mid 80's when I was an owner/opreator and yes it got real ugly.I did support the strike and shut mine down for 4 weeks lost my buisiness contacts and contracts and had to sell my trucks.
Fuel price does effect everything in that industry.

[yard dawg]

Does anyone think they are raising prices so the shiping companys can get cheaper labor? ( illegals when they get there lic priviledges from Hillary,Obama McCain) Just a thaught. I know a trucker who makes 60 grand a year. Maybe the corporate scum dont want to pay that high a wage anymore?????

[SEEGERMANY]

"I know a trucker who makes 60 grand a year"

I had a neighbor that worked for Tango Trucking and he made well over $75,000. Guess what. He worked a bazillion hours to make that much and was never home. Additional expenses on the road and no time at home was the key ingredient to his divorce.

[lerxstcat]

My wife tells me I'm crazy when I say that...... Enough of the school shootings....if you must shoot someone then do us all some good!

I just foresee things getting worse until lots of people start snapping and going 1789 on these fuckers, i.e., guillotining the fat cats. Maybe when these oil company execs start getting whacked they will decide that a modest profit is enough. When the President of shell smirks on national TV that if people don't like it they should cut back on driving, I think he would deserve to get whacked. Most people's driving is not discretionary but is necessary to make a living, buy groceries, etc...

These fuckers think it's funny. eventually they will find out it's not...

[El_Kabong]

On this side of the pond, gasoline prices dropped the equivalent of 25 cents due to a discrepancy with a government bill. A litre now costs 1.18.

But the local squid fisherman still can't go out as diesel prices are so high, they'd lose money by working. But Hell, there is no amount of money to make me eat something that looks like a dismembered cock. It's all relevant.

[Newc]

Gas Out Day and all that other stuff will not hurt the oil companies. They have excess money. You'd have to have a Gas Out Year for them to notice, and a Gas Out Decade for them to drop the price $1.

30 years of Gas Out might make one of them break a sweat.


And don't even get me started on the alleged "Gas Crunch" of the 70s. That was a corporate production.

[Carbuff]

I think if oil company CEOs started getting shot on a large scale they'd start to get the idea. If they don't get with cutting profits for the sake of the nation they should be nationalized. Not like that's gonna ever happen.

Wow, I thought I was the only one who thought about shooting Oil company CEO's. LOL!:ROTF: