Gas prices

[Vern Humphrey]

Speculators cannot drive prices up.

Look at it this way. I believe gas prices are going up, so I buy an option to buy a million gallons at $10.00 a gallon.

IF prices go above $10,00 a gallon, I make money. I win.

If they don't go that high (and I don't sell the option to a bigger fool) then I have to take delivery on a million gallons at $10.00 a gallon. I lose.

Now for me to actually DO that, I have to find someone who believes princes won't go that high. I buy that option from him. I am in effect, betting against him. If prices don't go to $10 a gallon, he wins. WE CAN'T BOTH WIN!!

Yet if those who say speculators drive prices are correct, we would BOTH have to win! And that is logically and mathematically impossible.

[Roadkingtrax]

It's called Hedging.

People short stocks all the time.

[oscars]

I just checked prices on Gas Buddy and noted a $.72 variation over a 5 mile spread. Got some conspiracy theories?

[Roadkingtrax]

I just checked prices on Gas Buddy and noted a $.72 variation over a 5 mile spread. Got some conspiracy theories?

He's all conspiracy, and no theory.

[Sandpebble]

OK... gas prices went up under Biden . To date the highest I ever paid for gas was under G.W. Bush .... who were you blaming then ? ......oh, you weren't complaining then , right ?

Never mind gasoline ....

how about Lysol and vacuum bags that doubled in price under Trumps 4 years ? Didn't give it thought did ya? Your cleaning services were deemed greedy for raising their prices so high .

Shall we go on to mention the huge price increase on those vacuums and that repair parts were no longer available.

You guys whining about price increases under Biden make me laugh .... check your bank and credit card statements over the past four years and then get back to me.

[BudT]

Biden is senile, and the reason we have inflation right now at this moment. Wait till Wells Fargo folds that ones gonna be fun. Barry said he wanted 5 dollar gas and the little girl hair sniffer is about to deliver and he probably is so senile he doesn't even know it.

[Major Tom]

As I posted in an earlier post; in Duarte, CA, a friend bought gas and when the cost hit $50 he stopped! He had bought only 7.4 gal. You do the math!

[BudT]

Ya, it just keeps getting worse and worse . Whats amazing or interesting is just how the stupid morons that voted for this stuff are coping with the other 1/2 of us that could see this would happen if the hair sniffer were installed. Gas is only a part of this and it will continue to spread wider and worse, it's a lot like dominoes ya knock one down and all the rest follow it's also rare when the effect can be changed or stopped. How bad will it be when the last one falls well I don't know for sure but I do know it ain't gonna be what the useful idiots want. At least and for the time being I still live in a state that is 85% controlled by the right thinking people so there is still some good ground to stand on your principles. The gas pumps are only one tiny part of the big picture but they are a part that is very important.

[Grumpy ole man]

Just got my Rumpke bill for the next 3 month, not surprisal in a 15% fuel charge added on. Oh well, life goes on and @ these prices I wonder how long.
GOM

[togor]

Speculators cannot drive prices up.

Of course they can. It's called "cornering the market". Buy up positions in some commodity to the point where you control enough supply, then limit that supply so as to achieve the target price. It's usually attempted with an element of stealth for obvious reasons.

- - - Updated - - -


There's also "pump and dump" schemes where speculators try to drive up a stock price on an engineered rumor to fuel momentum, then sell the stock off at a nice profit.

[lyman]

Just got my Rumpke bill for the next 3 month, not surprisal in a 15% fuel charge added on. Oh well, life goes on and @ these prices I wonder how long.
GOM

Mr Boggs,, no duplicate accounts,

I put you on a 7 day ban since I know you are having account issues, to give Sysad a chance to work it out,

unless you prefer I ban your current SA boggs account (I banned the other one you had long ago)

[Johnny P]

OK... gas prices went up under Biden . To date the highest I ever paid for gas was under G.W. Bush .... who were you blaming then ? ......oh, you weren't complaining then , right ?

Never mind gasoline ....

how about Lysol and vacuum bags that doubled in price under Trumps 4 years ? Didn't give it thought did ya? Your cleaning services were deemed greedy for raising their prices so high .

Shall we go on to mention the huge price increase on those vacuums and that repair parts were no longer available.

You guys whining about price increases under Biden make me laugh .... check your bank and credit card statements over the past four years and then get back to me.

Just before Obama took office gasoline prices were the lowest they had been in years. Obama took care of that.

As to Lysol and vacuum cleaner prices, what does that have to do with the economy?

[togor]

Just before Obama took office gasoline prices were the lowest they had been in years. Obama took care of that.

As to Lysol and vacuum cleaner prices, what does that have to do with the economy?

This is the second time I have heard someone advocate a cratering economy as a solution for high gas prices. Bush 2008 and Trump 2020 were terrible years.

[Roadkingtrax]

This is the second time I have heard someone advocate a cratering economy as a solution for high gas prices. Bush 2008 and Trump 2020 were terrible years.

It's like bad economic policy has a 3 year cycle or something.

[BudT]

Ya got to love the hair sniffer

Sent to me by a friend, Bug Sur gas pump, joe getting Obamas wish.