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So oil is down to about $62 a barrell
- Thread starter ortiz34
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mrplunkey
New member
will my suppliers lower the prices on my petroleum based products that they raised my prices 24% over three month starting last spring?
I think not
Businesses are going to pocket those price increases to brace for the upcoming tax increase. They'll recover the tax increase several times over by price increases, wage freezes, layoffs, offshoring and deferral. Its a classic "all of the above" strategy and the increases give businesses the license to implement them with zeal.
JayC9
Well-known member
yep, and you ain't seen nothing yet baby
Razorguns
Well-known member
lol!!
I went to six flags on sat. THe place was PACKED. Kids were partyiung and having fun.
I guess they don't waste their time on cnn.com and get depressed like the rest of u geezers!
r
ponyfitness
New member
Yup. I'm getting the "wait and see" lines from all of my people I had lined up for Q4. The funny thing is we already made an announcement that our prices are going up as of January so buy now while they are still good. Noone seems to care.
least gas will come sown and save my business on average of $700 a month
other than that, all I can hope is that they run some incredible spiffs and sales
Any ways
Lemme know when they start asking for tulips.
digimon7068
New member
at the risk of sounding like a conspirist. . .do you think that maybe the oil guys are trying to influence the outcome of the election?? the timing seems to be more than just a coincidence. a lot of voters will pull that lever based upon how they feel when they get out of bed on 11/04. . .and if they filled up for $2.25 a gallon on 11/03. . .who knows??
I doubt it. OPEC is trying desperately to stop the price drop. They have placed a $100/barrel target price as they think that is fair value. In reality, OPEC production cuts don't raise prices that much. It's all boils down to supply and demand, or perceived supply and demand. Six months ago there were fears that oil supplies were dwindling with our increased demand. Now that perception has gone away, so oil prices have plummeted.
On another note, two refineries in the US are planning to shut down and plans to build one have been scrapped. A little hasty considering we only had two months of dropping oil prices. With those refineries shutting down, that would increase gas prices more than anything.
Here's hoping we see $20/barrel oil by Christmas and it stays that way next year so our economy can recover, airlines can survive, and we can all fill our tanks with less money. However, even if gas prices stay low, I don't foresee food producers lowering their prices or others giving up that hidden fuel surcharge quite so easily.
billfred
New member
No.. this is not like 2000 where Bill Clinton released oil from the reserve to try and drive prices down before the election.
This is a factor of the economy going to shit - hence lower demand.
at $20/bbl most of our domestic pipelines will be shut in, and drilling will pretty much stop.
digimon7068
New member
meh. . .they began ratcheting back and flat-out scrapping many of their plans a couple/few of years ago when there became such a big focus on alternative fuels. . .of course, most of the companies are the same piggies at the trough for those research dollars as well. . .
billfred
New member
why would you build new refineries when oil production has not increased in 3 yrs? No need for new capacity until their is new production.
digimon7068
New member
yeah. . .that's what i'm sayin'. . .
mrplunkey
New member
Yup. While price-fixing is America is quite illegal (here they put you in jail), foreigners are welcome to collaborate on pricing and manipulate both supply and price in world markets.
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