My point is if the price of a barrel is down, shouldn't that effect the price at the pump. When the price of a barrel goes up, the price goes up. Why wouldn't the same happen when the price goes down?

Wouldn't that be too simple, I think the stockholders are to blame, investors expect to see the profit go up, so their portfolios get fatter, I mean obviously, they’re investors, they are expecting to make a return on their money, even in hard times, I was one once, not big time, I could have been, but the management of the bank I invested in, got greedy, and it folded, and it was an old, well established bank, so is nothing sacred?

Dropoed just Below $4 here today. Don’t expect it to last. They will be switching to that summer blend and it will go right back up.

[QUOTE=sw1911;549826]Facts, not ********.

"The price of oil is set in the global marketplace. Oil is traded globally and can move from one market to another easily by ship, pipeline, or barge. As a result, the supply/demand balance determines the price for crude oil around the world."

Oil companies do not control the demand for crude oil.

It is fact, not ********, that the present administration is doing everything it can to depress the domestic supply of crude oil and natural gas. Even so far as pressuring Wall Street to not make capital available for oil and gas exploration and production.

Do the math.[/QUOT

You might want to Google the quotes from at least 4 CEO's of major oil companies in which each of them say they are not interested in increasing production, but are interested in continuing the increased money stream to shareholders. Wonder why? Institutional and individual greed to keep their jobs with bonuses from the shareholders. We have been living in the new robber baron, gilded age since 1981. We have our own brand of oligarchs.

[quote=captrat;549833] Why? I would submit to you that it has something to do with increased risk associated with domestic hydrocarbon investment.

Exactly!
The other thing affecting prices is the oil futures market..... pure speculation, just like soy bean or pork belly futures. People making huge $$$ who have absolutely nothing to do with exploration, drilling, refining or pumping

Actually the futures market has nothing to do with the daily price. It's buying oil for todays price for what you think it will be a month from now. If you got it at 80 and it's 130 for the day you purchased for. You make 50 a barrel. If it's 40 on the day you bought it for then you lose 40 a barrel. Yeah, you can win big, You can also lose your arse like they did when Oil went negative when Russia and Saudi's tried to put each other out of business.

That might in INMO have some effect for the end consumer. Reality is that no one country or source is completely in control of the global market. From 1973 until now this has been the situation. Until as consumers we recognize this we will continue to lay blame on political leaders who really have no control because it is driven by supply and demand which can be effected by things out of their control. Sort of like we think that USAC can singly handed fix the purse structure of non-wing racing.

So when an administration of a country you live in with plentiful oil supply uses ******** to shut down that supply that was being used just two short years ago, and demand is up then guess what?? Price does go up and partially it’s due to the political leaders.
I agree wholeheartedly that Usac can’t fix the purse structure of non wing racing because they have failed miserably at it for years. Now that there is some competition we will see if the payouts increase. I like the chances that they do.

Like many things I will respectfully disagree with the idea that a single administration has been the main cause of this. Until we understand that as a country it is just not about oil that we are dependent but also other resources. We were the king at the turn of the 20 century because of what we thought were limitless resources in our own country. We are now like most countries in an ala carte menu of resource suppliers.