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☖ Forums → Discussion Forum → Maybe I don't get it...but isn't this a self-fulfilling prophesy?
12
Maybe I don't get it...but isn't this a self-fulfilling prophesy?
2008-06-08, 8:20 AM #1
http://money.cnn.com/2008/06/08/news/economy/gas_prices/index.htm?eref=rss_topstories

(gas prices)

Quote:
The $10.75 gain was the biggest one-day advance in dollar value ever, nearly doubling the previous mark of $5.49 set Thursday. Weakness in the dollar, geopolitical concerns and an analyst's prediction of $150-a-barrel oil by July 4 helped spur Friday's advance.


'I think it's going to be expensive soon.'

'LET'S MAKE IT EXPENSIVE!'

:carl:
woot!
2008-06-08, 8:36 AM #2
No. I think it's a response to a huge amount of growth outside of the United States combined with shoddy foreign policy and an unstable dollar. It's a prediction, and one with a good foundation.
2008-06-08, 8:46 AM #3
Eh. America requires a much needed wake-up call when it comes to relying so drastically on foreign oils. I bet it will only get worse.
SnailIracing:n(500tpostshpereline)pants
-----------------------------@%
2008-06-08, 9:47 AM #4
$6 by Jan. 2009
Code to the left of him, code to the right of him, code in front of him compil'd and thundered. Programm'd at with shot and $SHELL. Boldly he typed and well. Into the jaws of C. Into the mouth of PERL. Debug'd the 0x258.
2008-06-08, 10:16 AM #5
I saw Supreme Gasoline at a Chevron yesteray was 4.67 right next to the ocean, as opposed to 4.60 at my house 20 minutes away.

As far as I'm concerned, we're already paying $5.00 a gallon.
This signature agrees with the previously posted signatures. To violate previously posted signatures is a violation of the EULA for this signature and you will be subject to unruly behavior.
2008-06-08, 11:10 AM #6
Welcome to the exciting world of price speculation.
"If you watch television news, you will know less about the world than if you just drink gin straight out of the bottle."
--Garrison Keillor
2008-06-08, 11:40 AM #7
Apparently we won't hit $4.00 a gallon until 2050...Oh wait, s**t.

[http://i68.photobucket.com/albums/i26/DelSesto/SOB/6162-74818-gasjpg-550x.jpg]
Think while it's still legal.
2008-06-08, 11:48 AM #8
gas went down here the other day, dropped a whole dime, day after I filled a car

$3.84
Holy soap opera Batman. - FGR
DARWIN WILL PREVENT THE DOWNFALL OF OUR RACE. - Rob
Free Jin!
2008-06-08, 12:16 PM #9
I hate you.
Pissed Off?
2008-06-08, 12:50 PM #10
Stupid speculators. Why can't they go back to inflating the price of housing?
2008-06-08, 12:54 PM #11
yes the commodities market does influence the price of oil, and yes, it is a self fulfilling thing. kind of sucks, because every moron keeps predicting higher oil prices. the thing is though that when you buy a commodity its not as if you actually are buying a big tank of oil. i don't really fully understand how it works.

is anyone here really familiar with it?
New! Fun removed by Vinny :[
2008-06-08, 1:00 PM #12
Yeah, I thought the same thing when I heard this story (before I saw thread)

It's like A) Guy predicts will be $150 by July --> B) Price shoots up to meet prediction

How about this guy predict oil will fall to $40 a barrel by August :)

I know its not nearly so simple, but the way the story was quoted in media it was like "Hmm!"
2008-06-08, 1:01 PM #13
guys join my facebook group 2 get gas prices 2 go down!!11 we need 15,000,000 memberrss!
[01:52] <~Nikumubeki> Because it's MBEGGAR BEGS LIKE A BEGONI.
2008-06-08, 1:05 PM #14
Expectations of higher prices in the future are always a self-fulfilling prophecy. If people think something they need will cost more later, they'll buy it now. If more people want to buy something now, the price goes up.
If you think the waiters are rude, you should see the manager.
2008-06-08, 1:19 PM #15
Originally posted by mb:
guys join my facebook group 2 get gas prices 2 go down!!11 we need 15,000,000 memberrss!


[http://blog.stealingourwebs.com/images/posted/idiot.jpg]
the idiot is the person who follows the idiot and your not following me your insulting me your following the path of a idiot so that makes you the idiot - LC Tusken
2008-06-08, 1:21 PM #16
Maybe she was being sarcastic?
2008-06-08, 1:30 PM #17
I don't have much faith in Sarah Smith to make that excuse for her.

Anyways, there's a sign at a gas station near me that says "Hey, it's not our fault".

Motorcycle/bus time is getting close
2008-06-08, 7:39 PM #18
the fuel my go-kart uses cost $8 a gallon
"Nulla tenaci invia est via"
2008-06-08, 7:40 PM #19
Two stroke?
2008-06-08, 7:41 PM #20
yeah
"Nulla tenaci invia est via"
2008-06-08, 7:41 PM #21
it's 110 leaded octane
"Nulla tenaci invia est via"
2008-06-08, 11:06 PM #22
Originally posted by Avenger:
I hate you.


all you have to do is move away from California
Holy soap opera Batman. - FGR
DARWIN WILL PREVENT THE DOWNFALL OF OUR RACE. - Rob
Free Jin!
2008-06-09, 12:39 AM #23
we are paying about AU$1.52 per litre here, which is equal to about US$5.81 per gallon.

so count yourselves lucky.
Snail racing: (500 posts per line)------@%
2008-06-09, 12:54 AM #24
Originally posted by SAJN:
Apparently we won't hit $4.00 a gallon until 2050...Oh wait, s**t.

[http://i68.photobucket.com/albums/i26/DelSesto/SOB/6162-74818-gasjpg-550x.jpg]


I lol'd.

And to think some poor sap probably laughed his *** of when he played that game in 2001 thinking those prices are absurd.
"it is time to get a credit card to complete my financial independance" — Tibby, Aug. 2009
2008-06-09, 3:11 AM #25
Originally posted by alpha1:
we are paying about AU$1.52 per litre here, which is equal to about US$5.81 per gallon.

so count yourselves lucky.

It's about £1.15 per litre here which is about $8.56 per US gallon.:eek:
2008-06-09, 6:21 AM #26
Originally posted by alpha1:
we are paying about AU$1.52 per litre here, which is equal to about US$5.81 per gallon.

so count yourselves lucky.


Do you at least get a good public transportation system? I'm pretty sure that your cost is so high due to taxes..
woot!
2008-06-09, 7:59 AM #27
Originally posted by JLee:
Do you at least get a good public transportation system? I'm pretty sure that your cost is so high due to taxes..
Due to taxes and the fact that they don't have an entire army overseas keeping the oil flowing their direction.
Dreams of a dreamer from afar to a fardreamer.
2008-06-09, 8:03 AM #28
Originally posted by Fardreamer:
Due to taxes and the fact that they don't have an entire army overseas keeping the oil flowing their direction.


When we invaded Iraq, gas in America cost $2.00/gallon.

Now, it costs $4.00/gallon.

Your logic does not compute.
"it is time to get a credit card to complete my financial independance" — Tibby, Aug. 2009
2008-06-09, 8:06 AM #29
Originally posted by Recusant:
It's about £1.15 per litre here which is about $8.56 per US gallon.:eek:


Last I saw, Diesel was up to £1.30ish - thats $9.72 per US gallon.
nope.
2008-06-09, 9:11 AM #30
Originally posted by Freelancer:
When we invaded Iraq, gas in America cost $2.00/gallon.

Now, it costs $4.00/gallon.

Your logic does not compute.


which is kinda interesting to me because 3-5 years ago everyone was 'we're in Iraq so Bush and Co can get rich off oil'. everyone has shut up about it despite this would be getting them holy****wads of money
Holy soap opera Batman. - FGR
DARWIN WILL PREVENT THE DOWNFALL OF OUR RACE. - Rob
Free Jin!
2008-06-09, 9:44 AM #31
Originally posted by Freelancer:
When we invaded Iraq, gas in America cost $2.00/gallon.

Now, it costs $4.00/gallon.

Your logic does not compute.
US military presence in the gulf did not start with the Iraq invasion. $2 or $4, it's still way cheaper than the price in most industrialized parts of the world.
Dreams of a dreamer from afar to a fardreamer.
2008-06-09, 10:16 AM #32
Again, because of taxes. OPEC is not on the US's side. If they were, Dubi would not be Dubi.
2008-06-09, 10:19 AM #33
but most of that is tax by foreign countries.
one of the reasons America's gas is cheaper is because we don't tax the **** out of it.

here, let me borrow a picture from the online souce above:
[http://www.petrolprices.com/images/fuelgraph.jpg]
2/3rds of UK petrol cost is tax! For that 2007 set on the graph thats about $1.25 USD per liter for gas, as opposed to the 30 cents a gallon here in America.

Our gas is cheap because we don't rely on it for taxation
Holy soap opera Batman. - FGR
DARWIN WILL PREVENT THE DOWNFALL OF OUR RACE. - Rob
Free Jin!
2008-06-09, 10:42 AM #34
lets think about it here, if you take the fact that America has a population of 301 million and the UK has one of 61 million

okay, now factor in the land size of America vs the UK
9,826,630 km² - US
244,820 km² - UK

so we have more people and more land

what the about the GDP?
US$43,444 - US
US$37,328 - UK

which comes out roughly in total to:
$13,076,644,000,000 in the US
$2,277,008,000,000 in the UK

So America has more money too!

What does that mean for the UK? To get the same level of Services with the American Government (or better) YOU GET TAXED MORE BECAUSE THE GOVERNMENT NEEDS wants IT TO RUN
Holy soap opera Batman. - FGR
DARWIN WILL PREVENT THE DOWNFALL OF OUR RACE. - Rob
Free Jin!
2008-06-09, 10:49 AM #35
I think I saw something not too long ago that said Iraq's oil supplies and all that oil in Alaska everyone always goes on about were in fact inferior to what is actually in US borders and the Gulf of Mexico sitting under closed wells or was recently discovered.

Can't for the life of me remember where I saw it though...
<Rob> This is internet.
<Rob> Nothing costs money if I don't want it to.
2008-06-09, 10:52 AM #36
Point: Everyone else pays more, they aren't *****ing, and it isn't destroying their economy
2008-06-09, 1:11 PM #37
People in the US are just retarded and continue to buy expensive gas guzzlers then ***** about how much it costs to fill their tank. If people bought fuel efficient cars, gas would cost less.
Pissed Off?
2008-06-09, 1:18 PM #38
Or it might cost more because there was less demand and record profits are ALWAYS in order.
2008-06-09, 1:19 PM #39
Originally posted by Rob:
Point: Everyone else pays more, they aren't *****ing, and it isn't destroying their economy


They also don't have to drive as much to get places..

Originally posted by Rob:
Or it might cost more because there was less demand and record profits are ALWAYS in order.


I wouldn't be surprised..
woot!
2008-06-09, 1:29 PM #40
Originally posted by Rob:
Point: Everyone else pays more, they aren't *****ing, and it isn't destroying their economy


Counterpoint: America was built with cheap transportation in mind. As a result, urban sprawl is commonplace. Make no mistake: high gas prices will lead to recession. I know plenty of local businesses going out of business because their fuel prices have quadrupled. When fuel prices account for a large part of your expenditures, a price 4 times higher will kill your company.
New! Fun removed by Vinny :[
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