Is anyone going to blame OBAMA for these wonderfully low gas prices this morning?

originally posted by: AugustusMasonicus
a reply to: theySeeme

Let me see if I am following your brilliant business understanding. A gas station franchisee is going to purchase refined product and then sell it at a loss because future refined prices may drop?


please open a gas station near me.

Absolutely, because the longer they wait, the less their product will be worth. No one will buy that franchises refined product at higher price when they can buy it elsewhere on the same day at a cheaper price.

According to your absolutely ridiculous logic, if a person buys a barrel of oil today for $100, and the price drops to $50 tomorrow, he will still be able to sell it for $100 -- I mean seriously, do you even realize what you are saying?

If the price of coc aine cost $100 a gram today, and a huge sum of coc aine floods the streets overnight, you can be guaranteed that no broke drug addict is going to pay 100 for a gram simply because the supplier bought it when the price was high - no no, doesn't work like that. What the fck?!

a reply to: theySeeme

The refined price is based on the initial cost, not the future cost of a barrel of oil. The lower price for oil from Friday is still months away from the refining process.

Your thought process: Buy product for $2.00. Find out future product will be $1.50. Sell current product for loss. You should be teaching at Harvard Business School with that incredible plan.

a reply to: theySeeme

If Obama takes credit for the lowering of gas prices, can we blame him when they were high? Can we blame him when they rise again?

Corporate bankruptcies could affect the tax revenues necessary for the Sanders plan for the new Medicare !!!!

And I hear the banks in the Cayman Islands are ordering more account application forms !!!

originally posted by: AugustusMasonicus
a reply to: theySeeme

The refined price is based on the initial cost, not the future cost of a barrel of oil. The lower price for oil from Friday is still months away from the refining process.

Your thought process: Buy product for $2.00. Find out future product will be $1.50. Sell current product for loss. You should be teaching at Harvard Business School with that incredible plan.

It's not months away from the refining process, Iran has 30 million barrels stock piled, 30 million of STOCKPILED REFINED OIL!

This 30 million was building for the last 21 years and is now able to be sold. Please, read before speaking.

originally posted by: DBCowboy
a reply to: theySeeme

If Obama takes credit for the lowering of gas prices, can we blame him when they were high? Can we blame him when they rise again?

No, because imposed sanctions were on contracted time - time contracted before he took office. He had no power to change them until this time, as the clock has run out.

originally posted by: AugustusMasonicus
a reply to: theySeeme

The refined price is based on the initial cost, not the future cost of a barrel of oil. The lower price for oil from Friday is still months away from the refining process.

Your thought process: Buy product for $2.00. Find out future product will be $1.50. Sell current product for loss. You should be teaching at Harvard Business School with that incredible plan.

Again, according to your crazy and completely irrational logic -

If a person buys 100 shares of stock today at $1 per share, and the price of the shares drops to 0.5 per share tomorrow - he is most likely not going to wait, as he knows the price will most likely drop more each day after, he will sell it and CUT HIS LOSSES/PROFITS to prevent loosing even more.

It's called knowing when to fold them. Not sure why you have upvotes (just kidding, it's because people cannot find adequate points or arguments against anything I've said, and in attempt to "defeat" me, upvote the nonsense)

a reply to: theySeeme


Iran has 30 million barrels stock piled?!?!?!


the entire production of Saudi Arabia... of 3 days...

originally posted by: Indigent
a reply to: theySeeme


Iran has 30 million barrels stock piled?!?!?!

the entire production of Saudi Arabia... of 3 days...

Sorry, actually they own several hundred million barrels of oil, however 30 million of it is already at sea getting shipped.

So they are shipping the entire production of Sadui Arabia, of 3 days, in a single day. This stockpile is exactly that, a pile of stock, stock that is ready to be shipped/sold.

Nice try though, really.

a reply to: theySeeme

Nice try? you are the one that don't seen to grasp how prices and production volumes work

ATTENTION!

A few of you are getting a little out of hand in your debating.

Debate the subject. Leave the snarky comments and insults out of it.

If you can not, you may find your posting rights removed.

Do not reply to this post.

originally posted by: theySeeme
It's not months away from the refining process, Iran has 30 million barrels stock piled, 30 million of STOCKPILED REFINED OIL!

This 30 million was building for the last 21 years and is now able to be sold. Please, read before speaking.

Is it refined? No. How long before it is? Months. Not to mention their refining capacity has been severely curtailed due to not maintaining their infrastructure during the sanctions.

a reply to: theySeeme
Do you notice a trend here in your thread? There are some pretty smart people who have replied to you and not one agrees with your OP.

Might be worth your time to re-evaluate your position.

Nah, its just all conservative trolls and you are the only person to see the truth..........

originally posted by: theySeeme
Again, according to your crazy and completely irrational logic -

If a person buys 100 shares of stock today at $1 per share, and the price of the shares drops to 0.5 per share tomorrow - he is most likely not going to wait, as he knows the price will most likely drop more each day after, he will sell it and CUT HIS LOSSES/PROFITS to prevent loosing even more.

It's called knowing when to fold them. Not sure why you have upvotes (just kidding, it's because people cannot find adequate points or arguments against anything I've said, and in attempt to "defeat" me, upvote the nonsense)

Purchasing issues and refining oil are not the same. Poor analogy. The refining of oil takes time, using your E*Trade account is instantaneous. If a gas station franchisee dollar cost averaged his purchased product like you suggested he would be out of business, margins are tight as it is and selling at a loss completely destroys them.

originally posted by: theySeeme

originally posted by: stosh64
a reply to: theySeeme
Obama really has nothing to do with the price of gas.

Neither did Bush.

You are wrong, Obama's deal with Iran directly influenced the gas prices, do some research. Iran hasn't been able to sell oil to the United States since 1995, now they can, and they have so much of the stuff stock piled the price may very well hit below 1$ by next week.

It will also greatly reduce ISIS funding since their main source of profit is quickly loosing it's value. But no one will credit the man for that. Had trump been in office, we would NEVER have had this great deal with Iran, as trump has made clear, and we'd be paying 3$.

No , the price of a barrel of oil has been dropping for a long time. It was getting close to the price it is now last year. Then it soared back up. As the demand , at least in the US, is falling.Any market driven product is 90% supply and demand. And I will admit though , Obama loves to take credit for something good he had nothing to do with.

a reply to: theySeeme

Nothing good will come of this. You don't have a foot in reality and I won't be the one to burst your bubble. Enjoy it while you have it.

Greed is something hasn't been fixed.

originally posted by: theySeeme
Sorry, actually they own several hundred million barrels of oil, however 30 million of it is already at sea getting shipped.

That is an outright fabrication. None of it has even left the country:

For Iranian oil, a big question is how much and how fast. Already, some 38 million barrels of oil are in Iran's floating reserves, ready to enter the market, according to the International Energy Agency. Iran has signaled it aims to put as much as 1 million to 1.5 million barrels daily into the market. But the IEA estimates that 400,000 to 500,000 barrels a day is more likely; some experts see 300,000 or so barrels coming in during the next six months. Source

All that and the price around here is still nearly $2

originally posted by: Indigent
a reply to: theySeeme

Nice try? you are the one that don't seen to grasp how prices and production volumes work

Or how the oil in Saudi Arabia is easier to produce compared to Fracking, oil shale, tar sands, ocean rigs, whatever.

Sweet crude just under the surface is far cheaper to get out the ground and to market than all that mining for shale, drilling for lesser grades of oil, ocean oil rigging, and processing to make it marketable.

The Sauds just turn on the spigot…

a reply to: intrptr

The Saudi's might be the first one to crack. They have a war on their southern border and they are burning through their own cash reserves.

SA recently had a bond sale to get some funding for their fight with the Houthi rebels on their southern border.