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Speculation blamed for one-third of fuel prices

Discussion in 'Truckers News' started by Cybergal, Jun 4, 2008.

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  1. Jun 4, 2008 #1
    Cybergal

    Cybergal Road Train Member

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    Speculation blamed for one-third of fuel prices
    6/3/08
     
    Cybergal, Jun 4, 2008
    Cybergal, Jun 4, 2008
    #1
    Working Class Patriot, truckermario and GuysLady Thank this.
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  3. Jun 4, 2008 #2
    25(2)+2

    25(2)+2 Trucker Forum STAFF Staff Member

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    I'd blame it for more than that, I've read some of the stats on this, but they leave out how speculation is a fire that fuels itself. Every bit of news affecting oil and fuel prices is either used, or, if unfavorable to continued rising prices, ignored. Part of it has to do with turning dollars into something that is going up rather than going down.
     
    25(2)+2, Jun 4, 2008
    25(2)+2, Jun 4, 2008
    #2
  4. Jun 4, 2008 #3
    Ronnocomot

    Ronnocomot Road Train Member

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    The smart money is dumping Crude.
     
    Ronnocomot, Jun 4, 2008
    Ronnocomot, Jun 4, 2008
    #3
  5. Jun 4, 2008 #4
    Working Class Patriot

    Working Class Patriot Road Train Member

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    The speculators traded into energy after the Securities and the dollar swooned last year. Remember all the hoopla after Warren Buffet shorted the dollar and invested in China, India and finally oil?
    Crude is swooning today and I suspect the fundamentals are failing and the price will fall.
    What I'll predict though is states like CA that depend on fuel tax revenue to support their general fund, people are driving less, trading in the SUV for the Prius and the revenues are falling. To make up for the loss, these states will surely raise the tax rate on fuel and certainly increase road use taxes on carriers.
    Crude could actually trade for less than $100 a barrel and you'll still see diesel over $3.50 in CA.
     
    Last edited: Jun 4, 2008
    Working Class Patriot, Jun 4, 2008
    Working Class Patriot, Jun 4, 2008
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  7. Jun 4, 2008 #5
    25(2)+2

    25(2)+2 Trucker Forum STAFF Staff Member

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    There is plenty of crude available at this time., Now they will ride it back down, wonder how far it will go?
     
    25(2)+2, Jun 4, 2008
    25(2)+2, Jun 4, 2008
    #5
  8. Jun 4, 2008 #6
    Working Class Patriot

    Working Class Patriot Road Train Member

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    Does that mean that since I wouldn't have voted for Hillary....I'm not misogynistic?
     
    Working Class Patriot, Jun 4, 2008
    Working Class Patriot, Jun 4, 2008
    #6
  9. Jun 4, 2008 #7
    Ronnocomot

    Ronnocomot Road Train Member

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    My guess is $90, if they really go crazy it will be $60.
     
    Ronnocomot, Jun 4, 2008
    Ronnocomot, Jun 4, 2008
    #7
  10. Jun 4, 2008 #8
    25(2)+2

    25(2)+2 Trucker Forum STAFF Staff Member

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    I hope it is $60 to $70 but we really don't know, all I do know is that static prices are a thing of the past, too much money to be made playing the commodities markets.
     
    25(2)+2, Jun 4, 2008
    25(2)+2, Jun 4, 2008
    #8
  11. Jun 4, 2008 #9
    25(2)+2

    25(2)+2 Trucker Forum STAFF Staff Member

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    Bill was the only person I know of who was labeled a misogynist by a former member of his own staff. You know,the wannabe first husband. Now I guess he might be going for husband of the VP:biggrin_25523:.
     
    25(2)+2, Jun 4, 2008
    25(2)+2, Jun 4, 2008
    #9
  12. Jun 4, 2008 #10
    BigDiesel

    BigDiesel Light Load Member

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    It is funny how the left-wing liberal media has not mentioned anything about oil dropping the past week.....
     
    BigDiesel, Jun 4, 2008
    BigDiesel, Jun 4, 2008
    #10
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