Oil price ($80) x 15 = $1200 (1 oz gold) 15-16 is probably a good historical/long term ratio for these 2 commodities??
It's those without street smarts that ridicule every attempt to foil the manipulators. Of course, futures markets are there to provide a way for producers to hedge and smooth their cash flow. What does that have to do with the fact that there have always been SCUM that abuse the structure? If you're too naive, dumb, brain damaged, to understand that, move your stink to the Yahoo boards.
What are the A-rabs gonna do if we refuse to pay more that $30 a barrel? Eat fucking sand? Same goes for Venezuela and the rest of them.
You are so pathetically uninformed about any substantial issue. Do you think that the issue is how much you pay to the Arabs? At the pump, most of what you pay goes to the refiner and the government. In USA I think 60% of the price you pay is for those thieves and in Europe more than 75%. The Arabs have warned the governments of the west to stop taxing oil that high and to blame them for the high prices. All they try to do is optimally price a resource they have so the can get the most in the longest period of time. They got nothing else to live from. Do you think that if the price of crude drops to $30 you will pay less for gas? Allow me to laugh. The corrupted governments of the west with the huge public sectors live of oil tax. They will never let the price go down. That will shrink state revenues and cause budget deficits. The oil rally came as a gift to European corrupted politicians. Tax revenues increased substantially delaying the default of many countries. They pray for the price to go up. They keep on increasing gazoline tax. You are totally in darkness...
dont give me that wall street S@@@ y was oil 150 and 6 months later 35? same thing with all the commodities? it should be purely on supply and demand... small oil leak in some arab country which does not even supply oil to US causes $5 up move in oil thats not hedging going on its pure speculation... compare all the bubbles in last 20 yrs and u will get ur answer
In 2005 the price of crude oil averaged $50.23 per barrel, and crude oil accounted for about 53 percent of the cost of a gallon of regular grade gasoline So at least half, probably more, of the pump price is A-RAB money. Theres an ignorant twat here but it ain't me.
Here's more for the moron who dared question someone who could lose 100 IQ points and still make him look like a dickwad. Learn how to use the Internet before you make a f00l of yourself in public, intradaybill is now a damaged nick. The national average retail price of a gallon of regular gasoline in August 2010 was $2.73. There are four main components that make up the retail price of a gallon of gasoline: 1. Crude Oil: The cost of crude oil as a share of the retail price varies over time and among regions of the country. In August 2010, refiners paid an average of about $77 per barrel of crude oil, which accounted for about 67% of the national average retail price of a gallon of regular grade gasoline. 2. Refining: Refining costs and profits were 6% of the retail price of gasoline in August 2010. 3. Distribution & Marketing: Distribution, marketing, and retail dealer costs and profits made up roughly 12% of the retail price of gasoline in August 2010. 4. Taxes: Federal, State, and local government taxes (not including county and local taxes) accounted for about 15% of the national average retail price of regular gasoline in August 2010. Federal excise taxes were 18.4 cents per gallon and State excise taxes averaged 22.01 cents per gallon.
I think we can all agree that the price of oil has very little to do with supply and demand and a lot more to do with speculation. Oil at $80 a barrel tonight is a complete fucking joke.
I completely disagree. No need to repeat the same exact argument from last month.. http://www.elitetrader.com/vb/showthread.php?s=&postid=2938698#post2938698