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Lucky Luciano

(11,257 posts)

11. Production is high...but there is a demand problem.

Fri Aug 21, 2015, 09:51 PM

Aug 2015

Last edited Sat Aug 22, 2015, 11:37 AM - Edit history (1)

China's economy is slowing...their Yuan devaluation gave it away along with their terrible PMI number last night. By demand, I don't mean Joe Schmoe driving his SUV. I mean entire economies / particularly in the EM.

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34 replies

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Oil Prices Trade Below $40 A Barrel For First Time Since 2009 [View all] Purveyor Aug 2015 OP

And our gas prices go up Duckhunter935 Aug 2015 #1

I don't know where you live, but our gasoline prices have been dropping all year. FLPanhandle Aug 2015 #2

Oklahoma Duckhunter935 Aug 2015 #3

gas has been $2.59 forever here TheFarseer Aug 2015 #25

They will come down soon for you. Lucky Luciano Aug 2015 #7

You're worried about YOUR gasoline price? Do you realize what global problem this drop signals? Psephos Aug 2015 #22

I agree. Gas should be a 1.50 a gallon at most yeoman6987 Aug 2015 #27

They shouldn't compare prices to the time of the crash. Spitfire of ATJ Aug 2015 #4

They should. Lower oil prices are partly caused by demand destruction Lucky Luciano Aug 2015 #6

Under Dubya oil was going for almost $150 a barrel.... Spitfire of ATJ Aug 2015 #8

Oil going down like this is a symptom of other problems. Lucky Luciano Aug 2015 #9

Oil is going down because production is high and what's wrong with lowering demand? Spitfire of ATJ Aug 2015 #10

Production is high...but there is a demand problem. Lucky Luciano Aug 2015 #11

Still, I see no problem with a lowering of oil consumption. Spitfire of ATJ Aug 2015 #14

Agreed in and of itself. Lucky Luciano Aug 2015 #16

The investment class loves to fear monger about jobs to justify their greed. Spitfire of ATJ Aug 2015 #18

The truck and SUV craze is far from over, unfortunately NickB79 Aug 2015 #19

This is the target market... Spitfire of ATJ Aug 2015 #21

Thanks for the interesting graph. 6chars Aug 2015 #28

Quick!! Shut down some refineries!! thelordofhell Aug 2015 #5

Then how come mike in raleigh Aug 2015 #12

Because we are slaves to the rich. Spitfire of ATJ Aug 2015 #15

Okay, how much was a barrel of oil bpositive Aug 2015 #13

Roughly $28-30...possibly during the winter too (in LA/NY) Lucky Luciano Aug 2015 #17

Gas prices should be pegged to $4/gal, and then adjusted for inflation monthly NickB79 Aug 2015 #20

Oh no way. That is totally ridiculous. It should be 1.50 at most right now yeoman6987 Aug 2015 #29

What is ridiculous is the amount of carbon we're putting out NickB79 Aug 2015 #33

I would perfer not screwing over the poor and working class yeoman6987 Aug 2015 #34

I'm sure a lot of low income people who don't live next to public transportation would love that Travis_0004 Aug 2015 #30

And the hundred million people in Bangladesh who's homes will be underwater as the ice caps melt? NickB79 Aug 2015 #32

Gas prices are at our summer high and rising. Some bullshit about BP refinery problems. Ed Suspicious Aug 2015 #23

Same here. You must be around the Michigan/midwest area, eh? Started to go down some here at 2.79. Purveyor Aug 2015 #24

Its still high a the pump given the barrel price.... Historic NY Aug 2015 #26

No reflection at the gas pump emsimon33 Aug 2015 #31