happy Friday the 13th!
So oil is now up to $45.92/barrel, but this doesn't seem to have any impact on prices at the pump. I don't understand why this is the case. At this point it looks entirely possible that oil could hit $50/barrel and consumers won't even notice it. This doesn't make any sense to me.
According to weather.com the sky has been pouring buckets and spitting lightning for the past 3 hours, but you couldve fooled me. Despite the day I'm going to push my luck and go for a ride. Wish me luck.
It just occurred to me that the oil has to be refined before it arrives at the pump... so maybe consumers won't feel the shock until the gas arrives on the markets. I have no idea how long it takes for our oil to get shipped, refined, and then redistributed. But it might not be for another month or two? The way I understand it, the stock market is influenced both by predictions of much goods will cost at some point in the future, and also by consumer behavior. If the recent stock market crash was based on future pricing speculations, then perhaps the market will take another walloping when consumer purchasing power gets hammered by $2.60/gallon gas. Heh, if it takes 2.5 months for crude oil to reach American gas markets then the price spike would hit right at, before, or just after the election. The other question I have is whether the $45.92 price of crude is influenced by the futures speculation, and how that works. Someone must understand what is driving the costs. Ooohh it looks like its about to pour. Goddammit, this weather is driving me nuts.
According to weather.com the sky has been pouring buckets and spitting lightning for the past 3 hours, but you couldve fooled me. Despite the day I'm going to push my luck and go for a ride. Wish me luck.
It just occurred to me that the oil has to be refined before it arrives at the pump... so maybe consumers won't feel the shock until the gas arrives on the markets. I have no idea how long it takes for our oil to get shipped, refined, and then redistributed. But it might not be for another month or two? The way I understand it, the stock market is influenced both by predictions of much goods will cost at some point in the future, and also by consumer behavior. If the recent stock market crash was based on future pricing speculations, then perhaps the market will take another walloping when consumer purchasing power gets hammered by $2.60/gallon gas. Heh, if it takes 2.5 months for crude oil to reach American gas markets then the price spike would hit right at, before, or just after the election. The other question I have is whether the $45.92 price of crude is influenced by the futures speculation, and how that works. Someone must understand what is driving the costs. Ooohh it looks like its about to pour. Goddammit, this weather is driving me nuts.