Posted on 06/13/2006 8:00:02 AM PDT by Straight Vermonter
You know while everyone has been bitching about oil prices the smart people have been investing in oil stocks.
Jack
"Tumbling prices? $68.00 per barrel is tumbling???
I might consider this the right adjective if it was $50.00 per barrel..."
My thought exactly.
LOL!
Frog march some of these criminals
The gas prices near our home are already down to $2.10 per gallon on this news!
/s
Betcha we'll be hearing from Warren Buffet pretty soon to try and prop up the price.
I wish I would see $2.10 again.
Still about $2.75 in Wilmington NC
That "supply and demand" thing works everytime.
“No external force, no coercion, no violation of freedom is necessary to produce cooperation among individuals all of whom can benefit. That is why, as Adam Smith put it, an individual who 'intends only his own gain' is led by an invisible hand to promote an end which was no part of his intention.” - Milton and Rose Friedman, Free to Choose, 1980.
"It is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from their regard to their own interest. We address ourselves, not to their humanity but to their self-love, and never talk to them of our own necessities but of their advantages. Nobody but a beggar chooses to depend chiefly upon the benevolence of his fellow-citizens. Even a beggar does not depend upon it entirely...." - Adam Smith, The Wealth of Nations, 1776.
"The real price of everything, what everything really costs to the man who wants to acquire it, is the toil and trouble of acquiring it. What everything is really worth to the man who has acquired it, and who wants to dispose of it or exchange it for something else, is the toil and trouble which it can save to himself, and which it can impose upon other people. What is bought with money or with goods is purchased by labour as much as what we acquire by the toil of our own body." - Adam Smith, The Wealth of Nations, 1776.
"The price of monopoly is upon every occassion the highest which can be got. The natural price, or the price of free competition, on the contrary, is the lowest which can be taken, not upon every occasion, indeed, but for any considerabe time together. The one is upon every occasion the highest which can be squeezed out of the buyers, or which, it is supposed, they will consent to give: the other is the lowest which the sellers can commonly afford to take, and at the same time continue their business." - Adam Smith, The Wealth of Nations, 1776.
Adam Smith - The Invisible Hand Speaks.
http://www.FreeRepublic.com/focus/news/671594/posts
No, manipulating it... Back when ENRON collapsed and the California energy thing was going down, multiple government studies showed the energy markets were highly subject to fraud and manipulation because of LAX enforcement and loose regulation... all recommended better enforcement and reform...
To my knowledge none of these recommendations have been acted on.
Sure they do... per gallon!
Funny, I went o but a truck and looked long and her at the Dodge Durango. Thats all I ended up doing, thank goodness
And (evil grin), it's pretty easy to take a piece of the pie once the parabolic longs run out of cash...which is happening as I write this. The margin calls will be -- as always -- VERY ugly.
"Funny, I went o but a truck and looked long and her at the Dodge Durango. Thats all I ended up doing, thank goodness"
Please. This is a family site.
spellcheck is not my friend obviously(lol)
What has surprised me is the fact that US consumption has really not declined all that much given the dramatic price rise.
If consumption in the US remains at 98% of the consumption prior to the price rise, what would motivate anybody to sell for $40 per barrel rather than $70?
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