Oil futures soar on price forecast

What "something" should be done, and what are all the ramifications of "doing something"?

Bush_A$$ & Cheney_DICK & their BIG OIL friends must be clapping their hands and singing in the streets. Oil is over $120 a barrel.

January 2009 can't come too soon !!!

One reason that prices is so high is because the media keep reporting that it could go higher and so people fear the reports. If the media would shut up about it people would calm down and not panic. When they started reporting $4.00 gasoline by summer you started to see the gougers race to that number. The media needs to stop helping the gougers and try and calm people down.

SDespot wrote:

How about doing something about it before it gets that high? We have the power to explore alternate options.

No green options. Can't touch the oil under our feet, could be a moose would have to move a mile to survive. Let peoople pay $4.00/gal. as long as somebody's study {public funding} says the air is cleaner. Never mind the story today about the volcano spewing ash into the stratosphere. Pelosi better start the paperwork to do a study to see if congress can ban volcanos.

Use Common Sense wrote:

One reason that prices is so high is because the media keep reporting that it could go higher and so people fear the reports. If the media would shut up about it people would calm down and not panic. When they started reporting $4.00 gasoline by summer you started to see the gougers race to that number. The media needs to stop helping the gougers and try and calm people down.

Who are the gougers racing to that number?

Can you explain more about your theory?

Oil Reserve!!!! Use it now, funnel Iraqi oil throught it!!!

Yahweh on Rye...
"Who are the gougers racing to that number?"

Station owners. Owners raise prices to predict the next purchase price for fuel, they raise prices, people see gas go up, the media reports prices are rising and the owners raise prices again. The price of oil is actually raising because of fear.

Let the scam continue to change transportation and electric costs.
We elected the schemers !

Use Common Sense wrote:

One reason that prices is so high is because the media keep reporting that it could go higher and so people fear the reports. If the media would shut up about it people would calm down and not panic. When they started reporting $4.00 gasoline by summer you started to see the gougers race to that number. The media needs to stop helping the gougers and try and calm people down.

This is BY FAR the dumbest post I have EVER seen. If the media actually had something to do with prices don't you think they would be writing about the price going down? LMAO they have to buy gas too. Thanks for the laugh, I can always use a good chuckle.

Well they're now reporting $200 a barrel, good luck with your laugh.

shud up and take it like good little consumers......

who's you oil supplier, thats right whoooooo's your oil supplier

Use Common Sense wrote:

One reason that prices is so high is because the media keep reporting that it could go higher and so people fear the reports. If the media would shut up about it people would calm down and not panic. When they started reporting $4.00 gasoline by summer you started to see the gougers race to that number. The media needs to stop helping the gougers and try and calm people down.

Well, I hate to admit it, but I actually have to agree with you on this one.

Use Common Sense wrote:

Yahweh on Rye...
"Who are the gougers racing to that number?"
Station owners. Owners raise prices to predict the next purchase price for fuel, they raise prices, people see gas go up, the media reports prices are rising and the owners raise prices again. The price of oil is actually raising because of fear.

So oil = gas?

The retail station owners are driving the price of oil?

1. Media reports gasoline price rise
2. Station owners jack up retail gasoline prices
3. The price of the raw material required to make gasoline at the wholesale level rises
4. Maniacal laughter ensues from station owners rolling in dough?

Neat.

Use Common Sense wrote:

One reason that prices is so high is because the media keep reporting that it could go higher and so people fear the reports. If the media would shut up about it people would calm down and not panic. When they started reporting $4.00 gasoline by summer you started to see the gougers race to that number. The media needs to stop helping the gougers and try and calm people down.

That has to be at least 50% of the problem...people who turn wild predictions into self-fulfilling prophecies. Maybe some articles re getting prices down would work a lot better than these panic pieces the media keeps running.

brickyak wrote:

<quoted text>
This is BY FAR the dumbest post I have EVER seen. If the media actually had something to do with prices don't you think they would be writing about the price going down? LMAO they have to buy gas too. Thanks for the laugh, I can always use a good chuckle.

No--it's one of the most ACCURATE posts so far. The media doesn't care about the prices. The more outlandish anything is---crime, politics, prices, whatever---the more papers they sell or ratings they get.

Yahweh on Rye wrote:

What "something" should be done, and what are all the ramifications of "doing something"?

The something is (1)more drilling in areas like ANWR and similar places (2)build new refineries

City Worker wrote:

That has to be at least 50% of the problem...people who turn wild predictions into self-fulfilling prophecies. Maybe some articles re getting prices down would work a lot better than these panic pieces the media keeps running.

Because, of course, commodities traders listen to CNN instead of industry analysts.

Yahweh on Rye...
"So oil = gas?"

The reports of high oil prices = high gas prices... once again it's the fear "thing". The station owners need to stay ahead of the gas prices that's why they continually raise them. You weren't an "A" student right?

City Worker wrote:

No--it's one of the most ACCURATE posts so far. The media doesn't care about the prices. The more outlandish anything is---crime, politics, prices, whatever---the more papers they sell or ratings they get.

To determine the accuracy of said post, one would have to have some sort of actual evidence, no? Instead of the same sort of speculation (by actors having nothing whatsoever to do with that commodity or industry) that the post claims pushes the prices up?

You're saying the following:

1. Media reports gasoline prices increasing.
2. Ratings for media outlet increase.
3.????
4. Oil company profit!!!

Let it go up to whatever! You will still buy it anyway. Stop complaining and just work harder, longer hours to compensate, Puny Humans!