After Hike In China, Global Oil Prices Fall

[Philip T]

Well considering . . . .

Originally Posted by ViewFromThePeak

This is soooo funny yet so true

and

Originally Posted by Jaxson

That sentence is so true Philip T! But "we the people" don't want to give up our driving styles to force the reduction in price of gas by keeping our money more in our pockets. It is easier to blame big oil, our govie and foreign countries. Accountability in America seems to have been throw out the proverbial window in a lot of areas of our culture.

Supply and demand means nothing to most folks in America because we have lived high on the hog too long.

I should not be so hard on [my fellow] moron Americans.

If this chart is to believed, there may be hope for US.

From a story on this topic at: The Oil Drum | Have we passed “Peak Travel?”

[franksbacon]

Now we need to compare this chart in about 18 months with the oil production one. You will see it too has peaked and the graph runs about the same as this one does. This is no mistake. The two will always run hand in hand. Prices just needed to catch up. Too bad they have not yet. We need to hit about $8 a gallon, US for this to happen. Ugly and sad, but true!

[jrice]

The thing most people dont realize is that the wall street price(or harbor price) of crude oil does not effect the consumer market (or shouldnt) for 6 months.

[Wild Style]

Originally Posted by baystater

washingtonpost.com - nation, world, technology and Washington area news and headlines

Oil falls on reports that China will raise gas prices - Jun. 19, 2008


Now things are going to start to get interesting in the world of petroleum. I know there are plenty of other factors involved in the prices of oil but one of the big ones (in my opinion) is china's subsidies of gas.

I think a lot of people are going to be disappointed when all this is said and done.