Not Logged In Log In   Sign Up   Points Leaders
Follow Us    9:08 AM

GasBuddy News Article

47
votes
Energy prices shouldn’t be rising, but traders keep pushing them higher

Quartz -- US-benchmark oil prices are at a 15-month high today, gasoline and diesel prices are rising with them, and the usual suspects seem to blame—escalating geopolitical trouble (this time in Egypt) and tight supplies (lower US stockpiles.)

But the usual explanations don’t quite work. Instead, we seem to be watching the handiwork of conflicted traders who, while healthily wringing out a longstanding distortion in the market, are also exhibiting primordial casino behavior (more on this below.)
The Suez Canal is not likely to close, but let’s say it does

First, consider the worst-case scenario from Egypt: a possible closure of the Suez Canal and the 200-mile-long trans-Egyptian Suez-Mediterranean pipeline, through which a combined two million barrels a day of crude oil moves to the market.

Tank


Read the Full Article

Submitted Jul 11, 2013 By: kx250
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Energy prices shouldn’t be rising, but traders keep pushing them higher Back to Topics
REPLIES (newest first) Post a Reply
Profile Pic
honda0105
Champion Author Tallahassee

Posts:24,548
Points:2,514,790
Joined:Nov 2008
Message Posted: Jul 16, 2013 5:31:03 AM

bear: I'm afraid you're right.

The whole Beltway is a joke these days, I'm afraid...
Profile Pic
KAR120CSII
Champion Author Oregon

Posts:6,384
Points:1,334,125
Joined:Apr 2010
Message Posted: Jul 14, 2013 1:21:02 AM

Say it ain't so --
Profile Pic
Bearcat500
Champion Author Cincinnati

Posts:12,019
Points:2,166,775
Joined:Nov 2005
Message Posted: Jul 12, 2013 5:57:19 AM

And the thing is these traitors at the Wall Street Casinos are living in a perfect world. Phil Gramm and Bill Clinton opened the door for them. Because of these two they can pick our pockets on a whim. Obama is doing nothing about it. And Congress? Pffffft!! They are too busy trying to repeal Obamacare, for the gazillionth time. God help us.
Profile Pic
Badmoon
Champion Author Massachusetts

Posts:11,810
Points:2,499,795
Joined:Oct 2008
Message Posted: Jul 12, 2013 1:51:35 AM

It would be nice to see a few traders get burned here.
Profile Pic
KrsnaDragon
Champion Author Montreal

Posts:6,326
Points:1,390,545
Joined:Nov 2011
Message Posted: Jul 12, 2013 1:26:41 AM

Speculation breeds despair.
Profile Pic
wild3bill
Champion Author New York

Posts:2,630
Points:1,958,745
Joined:Nov 2005
Message Posted: Jul 12, 2013 1:22:23 AM

Not to worry because the end of the world is close at hand ;-|
Profile Pic
wild3bill
Champion Author New York

Posts:2,630
Points:1,958,745
Joined:Nov 2005
Message Posted: Jul 12, 2013 1:20:20 AM

Big Oil Monopoly can raise prices WITHOUT justification. The Climate Change Cult has vilified coal which was our Ace I the hole against the Oil Monopoly. Now they just raise Oil, gasoline and Diesel sand Jet fuel until it sours the economy and bad outlook numbers cause the traders to back off the unjustified increases because they put people out of work!
Profile Pic
JuicyQ69
All-Star Author San Bernardino

Posts:864
Points:1,749,880
Joined:Apr 2009
Message Posted: Jul 12, 2013 12:49:58 AM

If it isn't one thing it's another.
Profile Pic
suicyco16
All-Star Author Phoenix

Posts:635
Points:1,013,830
Joined:Jun 2012
Message Posted: Jul 12, 2013 12:48:08 AM

This is not going to end well.
Profile Pic
rap12MA
Champion Author Boston

Posts:3,258
Points:848,000
Joined:Mar 2012
Message Posted: Jul 12, 2013 12:45:28 AM

These traders have too much influence that affects oil prices.There needs to be limits instituted on these guys.
Profile Pic
labombaOH
All-Star Author Ohio

Posts:619
Points:207,145
Joined:Nov 2007
Message Posted: Jul 12, 2013 12:45:03 AM

ANYTHING TO RAISE IT.........
Profile Pic
Zonk
Champion Author Michigan

Posts:9,942
Points:2,941,500
Joined:Oct 2005
Message Posted: Jul 12, 2013 12:44:57 AM

Must get away from dependence on foreign oil.
Profile Pic
rosyLI
Champion Author Long Island

Posts:9,022
Points:1,893,020
Joined:Apr 2010
Message Posted: Jul 12, 2013 12:44:03 AM

Maybe the shouldn't be rising but the are period!
Profile Pic
vangobrown
Champion Author Wilmington

Posts:1,718
Points:1,036,655
Joined:Mar 2012
Message Posted: Jul 12, 2013 12:42:29 AM

everything is grand
Profile Pic
Bigwaynef
Champion Author South Carolina

Posts:15,891
Points:2,924,880
Joined:Dec 2006
Message Posted: Jul 12, 2013 12:41:24 AM

Obummer says don't worry, he's got it under control!
Profile Pic
unicornpmb
Champion Author Buffalo

Posts:11,989
Points:2,527,570
Joined:Sep 2005
Message Posted: Jul 12, 2013 12:40:40 AM

Sounds about right.
Profile Pic
Tigercat88
Champion Author North Carolina

Posts:6,700
Points:1,484,190
Joined:Jul 2011
Message Posted: Jul 12, 2013 12:37:05 AM

SPECULATORS AND GREED!!!!!!!
Profile Pic
dad2two
Champion Author Dallas

Posts:6,231
Points:1,465,920
Joined:May 2010
Message Posted: Jul 12, 2013 12:36:59 AM

Speculators? Nothing new here.
Profile Pic
Hi1
Champion Author Ontario

Posts:8,021
Points:2,511,050
Joined:Jun 2007
Message Posted: Jul 12, 2013 12:36:09 AM

Greed.
Profile Pic
boatfloyd
Champion Author Jacksonville

Posts:5,262
Points:1,251,345
Joined:Mar 2012
Message Posted: Jul 12, 2013 12:35:51 AM

Those Darn Traders.
Profile Pic
Vette1967
Champion Author Albany

Posts:9,460
Points:2,124,095
Joined:Jun 2009
Message Posted: Jul 12, 2013 12:35:24 AM

So, now it's the Traders?
Profile Pic
mrreferee
Champion Author Savannah

Posts:3,544
Points:1,399,415
Joined:Jun 2011
Message Posted: Jul 12, 2013 12:30:25 AM

money grabbin'
Profile Pic
Dragnet
Champion Author Arizona

Posts:19,039
Points:3,723,055
Joined:Jul 2004
Message Posted: Jul 12, 2013 12:29:06 AM

Anybody got a rope to put these clowns out to pasture
Profile Pic
oldred11
Champion Author Indianapolis

Posts:4,870
Points:1,571,425
Joined:Mar 2011
Message Posted: Jul 12, 2013 12:26:44 AM

What I want to know is how and why did our crude inventory drop so low when the price of oil was down?
Profile Pic
jetskijerry
Champion Author North Carolina

Posts:7,294
Points:1,607,360
Joined:Mar 2011
Message Posted: Jul 12, 2013 12:24:50 AM

We're like lemmings going over the cliff.
Profile Pic
jkpsr
Champion Author New Jersey

Posts:5,978
Points:1,655,970
Joined:Jun 2005
Message Posted: Jul 12, 2013 12:24:45 AM

We need to get away from foreign oil.
Profile Pic
jetskijerry
Champion Author North Carolina

Posts:7,294
Points:1,607,360
Joined:Mar 2011
Message Posted: Jul 12, 2013 12:24:31 AM

If we'd quit buying, the price would go down.
Profile Pic
jetskijerry
Champion Author North Carolina

Posts:7,294
Points:1,607,360
Joined:Mar 2011
Message Posted: Jul 12, 2013 12:24:05 AM

crooks
Profile Pic
Ray_10589
Champion Author New York

Posts:8,257
Points:2,027,370
Joined:May 2009
Message Posted: Jul 12, 2013 12:23:49 AM

it should be illegal
Profile Pic
judgemobile
Champion Author Ohio

Posts:11,071
Points:3,330,600
Joined:Nov 2005
Message Posted: Jul 12, 2013 12:22:03 AM

greed lives, film at 11:00
Profile Pic
LS300
Champion Author Cleveland

Posts:19,384
Points:3,828,105
Joined:Jan 2005
Message Posted: Jul 12, 2013 12:20:14 AM

Pure speculation in the market.
Profile Pic
crreed1
Champion Author West Virginia

Posts:5,266
Points:3,283,910
Joined:May 2005
Message Posted: Jul 12, 2013 12:19:11 AM

old news
Profile Pic
jcdakota
Champion Author Baltimore

Posts:1,618
Points:415,920
Joined:Nov 2010
Message Posted: Jul 12, 2013 12:19:05 AM

Grow up the world is messed up - DEAL WITH IT ! !
Profile Pic
10k
Champion Author North Carolina

Posts:25,977
Points:3,099,550
Joined:May 2006
Message Posted: Jul 12, 2013 12:17:50 AM

i guess it's all location, location, location: the interstate exit stores all jumped 12¢ today, while the blvd stores dropped 4¢..

kinda makes ya wanna go "hmmmmmmm" doesn't it ??..
Profile Pic
Bullseye520
Champion Author Louisville

Posts:5,559
Points:1,483,830
Joined:Apr 2011
Message Posted: Jul 12, 2013 12:16:35 AM

Old News!
Profile Pic
Edtx2009
Champion Author Houston

Posts:2,610
Points:440,640
Joined:Jun 2009
Message Posted: Jul 12, 2013 12:16:23 AM

Read an article 3 days ago that prices were going to go up due to the unrest in Egypt.

Obama done struck again.
Profile Pic
heartbroken2010
Champion Author Ottawa

Posts:7,818
Points:1,763,210
Joined:Aug 2010
Message Posted: Jul 12, 2013 12:14:19 AM

guess that's why gas prices just jumped up over 2 cents a litre about 10 miutes ago up here. Now it is $1.32.3 CDN per litre ( 4.5 litres = 1 gallon ) OUCH !!
Profile Pic
gsayeg1
Champion Author Milwaukee

Posts:1,788
Points:264,895
Joined:Jun 2008
Message Posted: Jul 12, 2013 12:11:48 AM

where's the penny slots?
Profile Pic
DrGasPain
All-Star Author Dallas

Posts:532
Points:1,059,380
Joined:Mar 2011
Message Posted: Jul 12, 2013 12:10:43 AM

They're headed up even higher and soon with crude oil prices hitting new 52-week highs
Profile Pic
ManOfLeisureII
Champion Author Philadelphia

Posts:5,268
Points:1,326,990
Joined:Jan 2012
Message Posted: Jul 12, 2013 12:09:37 AM

Nothing wrong with making money...if you can't beat 'em, buy energy stocks.
Profile Pic
dongo50
Champion Author West Virginia

Posts:16,258
Points:2,571,795
Joined:Jul 2006
Message Posted: Jul 12, 2013 12:08:58 AM

ok
Profile Pic
stratlinetime
Champion Author Kalamazoo

Posts:5,775
Points:1,430,540
Joined:Feb 2011
Message Posted: Jul 12, 2013 12:08:54 AM

Greed
Profile Pic
Goat2008
Champion Author Ontario

Posts:2,076
Points:1,278,810
Joined:Aug 2008
Message Posted: Jul 12, 2013 12:07:58 AM

Any excuse will do to raise oil prices.
Profile Pic
jrschl
Champion Author Louisville

Posts:6,462
Points:1,566,715
Joined:Jun 2011
Message Posted: Jul 12, 2013 12:07:57 AM

So take the traders out of the equation and eliminate the speculation.
Profile Pic
N5EXY
Champion Author Austin

Posts:9,032
Points:2,354,715
Joined:Jul 2004
Message Posted: Jul 12, 2013 12:07:37 AM

Blame Bush when prices go up.
Profile Pic
Jarol
Champion Author Iowa

Posts:11,935
Points:2,490,365
Joined:Nov 2007
Message Posted: Jul 12, 2013 12:06:18 AM

Why do they do it? Because they can.
Profile Pic
Burger09
Champion Author Ontario

Posts:3,516
Points:981,190
Joined:Aug 2009
Message Posted: Jul 12, 2013 12:05:47 AM

Very sad...
Profile Pic
Tsunamiron
Champion Author Jacksonville

Posts:4,791
Points:1,393,875
Joined:Mar 2011
Message Posted: Jul 12, 2013 12:05:24 AM

$4 per gallon again in the near future.
Profile Pic
PrinceLH
Champion Author Ontario

Posts:6,213
Points:1,412,145
Joined:Jun 2011
Message Posted: Jul 12, 2013 12:05:16 AM

And nothing ever gets done!
Profile Pic
bolobill
Champion Author Michigan

Posts:19,474
Points:4,033,525
Joined:Mar 2004
Message Posted: Jul 12, 2013 12:03:41 AM

ok
Profile Pic
boatmen
Champion Author New York

Posts:5,881
Points:1,354,515
Joined:Jan 2011
Message Posted: Jul 12, 2013 12:03:09 AM

Greed
Post a reply Back to Topics