This is just an observation with no scientific backing, but it makes one think...
Over the past year, particularly over the past two months or so, MI (the Detroit area) saw unreal layoff numbers. To put it into perspective of just how many people are unemployed here, I'll take you through traffic patterns.
In years past, even months past, working traffic was always bad, especially on a Friday afternoon. My commute is 37 miles one way, mostly highway. About 50 - 60% of the drive is currently under construction both ways. On a typical Friday afternoon leaving work at 5:30, my commute used to be one to 1.5 hours with no construction. Now, even with construction, the entire drive is at highway speeds making the commute 40-45 minutes regardless of what day it is. This is unreal for Detroit traffic. If the amount of construction would have been in place just a year ago, traffic would have been backed up 20-30 miles and the commute would have been 1.5 - 2 hours.
Which leads me to believe since there are far fewer people on the roads, then less gas is being consumed.
So why have the prices went up $.50 + over the past two months?
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Gas prices plummeted after Bush announced he was withdrawing the executive ban on offshore drilling. They started back up when Obama reinstated the offshore ban. Prices are up $1.00 per gallon since the coronation on January 20... Oops... I meant "inauguration." [:'(]
Gas prices rise every summer, BUT part of the quick rise this summer is do to the weekening U.S. dollar. That's what happens when the printers are running full tilt trying to keep up with quick spend Obama!!
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Right now there is no conection between S&D. Even the most pro free market experts agree. We are in a period of low demand but the speculators are at it again. They need to change the law back to what it was where speculators needed a much higher amount of money to control X number of oil stocks, OR MAKE THEM TAKE DELIVERY.
Gas prices rise every summer, BUT part of the quick rise this summer is do to the weekening U.S. dollar. That's what happens when the printers are running full tilt trying to keep up with quick spend Obama!!
Bingo, it's called inflation fears. Just like folks putting money into metals like gold and such, Oil is the exact samething, a commodity.
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Why inflation fears, prince osama says all is well and that he is well on the way to saving us from ourselves and future times of abundance, He is grabbing all the power so we don't have to worry about anything, Look for a new 'Don't worry be happy" Czar.
Poor osama say's FOX news is picking on him and seldom gives him positive rating, That's not Fox's Fault he has to do something positive and non dictator like to get credit for it.[:@]
It's money printing, and related to the fall in the dollar's value relative to other currencies. Speculators do not have an impact on the price. They're merely betting on where they think prices will go based on the fundamentals, WITH SOMEONE TAKING A SHORT POSITION FOR EVERY LONG POSITION TAKEN! If they are right and fundamentals lead to an increase in price, then they will make money, but it's the fundamentals that determine the direction and magnitude of gas price changes, supply (including refinery disruptions as well as oil produced), demand and inflation/devaluation of currency.
According to Lou Dobbs, the speculators have a lot to do with the price. As he says, with just 10 percent up front they can control a lot of stock. He says too that it used to take 50 percent up front and should return to that at least. He also thinks that they should have to accept delivery if they want to buy, Nobody wants a bunch of oil drums in their yard. I place some value on his opinion, He knows a lot more about it than I do.
If gas prices follow S&D, then why...
