the oil market plunges-"I" Told You So

[maui1]

oil over supply has been hidden by the weak dollar, which is the result of fiat currency printing and gov't direct intervention in this market.

people that don't understand the laws of supply and demand, should look for evidence of price supports when making bets on market direction.

[blebs]

Oil commodities have always baffled me. It never has made sense.

[maui1]

to much outside influences. if left to the open market, ya sure there would be ups and downs, but nothing like we are seeing due to our gov'ts central planning, and this by a gov't that can't fix breakfast, let alone a world market.

[domeasingold]

I have little faith that the "Super Committee" can do anything to salvage the economy. I guess there may have to be a "Super Duper Committee" to oversee things. I nominate Maui and FTI. At least you would get both lines of thought on the subject.
However, even in agreement with Maui here does not take into account that I still think the USA is the best place to be.
Also, in keeping with the topic of this thread in my opinion there has never been rhyme nor reason to oil prices and its relationship to the consumer. Why is it that oil plummets but gas prices remain the same for about two weeks before a meager reduction and when oil rises, gas peices are in lock step up?
Never could figure that out and never got a rational answer either!

[maui1]

let me try...........

when oil prices go up.......it is an easy sell, raising gas prices with the rise in oil.

when oil goes down, the public is happy with the down direction and not as concerned with the time it takes to go down, so all those that supply gas, take advantage of this human nature weakness.

imo---we need a really super duper committee. i can't see just a regular old super duper committee being able to do, what anyone of us could do, in just 5 minutes.

[domeasingold]

I think a news program did that just last week. 10 everyday people(all races) set in a room for an hour and identified over 4 trillion in cuts. Targeted social programs for illegal aliens, welfare programs, and corporate givebacks. Fairly easy if the majority of taxpayers can do it.
P.S. How is it that oil has fallen 20% in the last 2 weeks and gas prices 2 cents?

[maui1]

you don't see people yelling an screaming, like you do when prices are going up, do you?

if we had some yelling and screaming when prices are going down, you would see prices going down a lot faster than they are going down now.

again, people are ok with prices just going down.

[tyfighter3]

There is always a reason why prices are where they are at.
www.ogj.com/articles/2011/08/market-watch-crude-approaches-86-bbl-in-new-york.html