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For once we agree. That may have been the dumbest thing I have EVER heard a candidate for POTUS say.
She doesn't even understand why oil prices go up and down.
Wow, incredible.
[b]Oil producing countries DO NOT set the price of oil![/b] That is done by [b]oil traders [/b]on the commodity exchanges. All oil-producing countries can do is change output.
The woman is an idiot. I hope the Republicans jump on this.
What a truly breathtaking Christmas gift to the GOP! I wonder which Republican will be the first to utter the magic phrase "Misery Index".
The good thing about this global warming hysteria is that the development of alternative fuel sources will not be determined by the price of oil. PG&E already has plans to convert 60% of their energy sources to alternative fuel within ten years.
http://www.wecandothis.com/
The price goes down until supply and demand match again. Econ 101
Oil prices only traded up close to $100 a barrel because [b]gas prices were not rising hand in hand[/b]. Once gas got over $3 a gallon, you will notice that [b]oil prices came back down[/b].
Right now, there is an [b]"oil bubble"[/b] in the commodities market. A "bubble" occurs when a traded instrument (internet stocks, real estate, oil), [i]trades at a higher valuation than its intrinsic value as a commodity[/i].
In other words, when real estate goes up, not because of it's [b]value as shelter[/b], but because they [b]trader thinks someone else will pay more for it than he did[/b].
Once the bubble "bursts", the commodity always comes back down to its intrinsic value. That is what will happen to oil every time gas goes over $3 a gallon.
If oil prices send the US economy into a recession, the oil traders have [b]"killed the goose that laid the golden egg"[/b], so they back off. Traders sell their long positions and go short, thus putting downward pressure on prices.
That's how it REALLY works. Not that Hillary Clinton would have any clue.
What "history" is that? Do you know that the price of gasoline, adjusted for inflation, is virtually the same as it was in the early Seventies?
I think your claim is false. No single commodity can cause either inflation or recession.
Bingo, equilibrium.
And Bat, that's the first thing I thought: Hillary's actually going to campaign on bringing back the misery index...Merry Christmas to the Republicans. Hillary's not promising lower gas prices, she's promising to get lower oil prices, and then the federal government can raise the taxes to fill the gap that's left between old oil prices and new.
Yes, because we all know how Hillary and the rest of the Dems like to "mandate" things. Bye bye "free people making free choices".
OIL PRODUCING COUNTRIES DO [b]NOT NOT NOT [/b]SET OIL PRICES. Oil prices are [b]set by traders[/b] on the commodities markets. Also contrary to popular belief, oil companies DO NOT set oil prices. They do have some control, however, on the margins that are charged for the price of gasoline at the pump. Usually, gasoline costs about 60 cents more at the pump that it costs the oil companies to make it.
The fact that Hillary Clinton thinks oil-producing countries can "reduce oil prices" means that she does not understand the MOST BASIC fundamentals of the problem.
Scary.
Once again, [b]you will NEVER see gas stay above an inflation-adjusted $3 a gallon nationally in the USA[/b]. Gas above $3 a gallon produces a [b]significant drag on the economy[/b], thus [b]reducing the demand for oil[/b], thus [b]driving down the price[/b].
Think of $3 as the "pain point".
THE FUTURE:
Within 5 years, most cars will run on [b]hydrogen fuel cells[/b] or [b]100% electric motors [/b]which can fully recharge in 5 minutes.
We will look back nastalgically on when we used to actually burn rotted vegetation from 100 million years ago in order to get around in the same way we recall the rotary dial telephone now.
As the technology involved in actually "broadcasting" electricity (i.e., no wires) improves, eventually, electricity could be transmmitted to your car along the roadways like cell signals are now transmitted to your phone.
That's what makes the new legislation that requires 35 MPG by the year 2020 is so laughable. By the year 2020, the use of fossil fuels by anything except perhaps jet airplanes and electric plants will be a thing of ancient history (and even they will burn cellulose-based hydrocarbons derived from things like garbage and animal waste).
She's a Dem, and Dems don't get real economics, as they all believe in Marxist "economics".