Oil prices rigged?

Wednesday, September 20, 2006
I was asking Gale about what he was hearing about the election here in southern Indiana. He says he thinks Hostettler will win because the Democrats put up a weak candidate.

But....he also says most of the people he has talked to think Hostettler took money from oil companies and that the price of gas will go right back up after the election. It is all a conspiracy. The prices are only down to help them win and then watch out! BAck up they will go.

I think that is nonsense, after all Americans do not control the world price of oil...pity that...but he says it is firmly in people's minds. If those prices stay down will that change minds or are these kinds of views so firmly planted in the psyche of the public that there is no changing them?

18 comments:

Rick Ballard said...

I sure hope no one finds about about the deal the Reps cut with the oil companies for discounts for registered Republicans. .10 per gallon doesn't sound like much but it adds up over the years.

Skookumchuk said...

It is a conspiracy only if America controls the planetary supply and is the only important region of demand. But lookey here.

truepeers said...

How many of those people would put their money where their mouths are - and speculate on oil futures - if it's such a sure thing? what would they say if you put that question to them?

Stephen_M said...

They didn't reason their way into that paper bag so they aren't gonna reason their way out of it.

Fresh Air said...

Man, now it's a neocon-papal-oil-zionist-conspiracy thingee.

The loons are thick in the air this time of year. Isn't there a flyway in Southern Indiana?

terrye said...

truepeers,

That is a great idea, I am going to suggest it and I did mention that we do not actually control the world market on oil but it seems that people just can't get their heads around that.

terrye said...

fresh air:

Ah you are just one of those poor slobs who believes whatever he is told, these folks know better. How it works is a mystery, but they just know better.

Fresh Air said...

Terrye--

...but they just know better

They ought to be up in Greencastle teaching economics. They can put that commodity pricing theory to bed once and for all.

terrye said...

fresh air:

The ridiculous thing is that this is farm country and these folks know better than anyone that markets have a mind of their own.

Skookumchuk said...

terrye:

The ridiculous thing is that this is farm country and these folks know better than anyone that markets have a mind of their own.

Yes. I've had lots of contact with farmers over the past 20 years or so. Want to know about soybeans in Brazil and demand for wheat in Egypt and how the Mexicans like Gala apples? Ask an American (or Canadian) farmer.

David Thomson said...

The odds are far greater that you will win the lottery and then humiliate Shaq O’Neal on the basketball court. Too many people would have to be on the fix. Traders buy and sell oil based on information concerning political instability, hurricanes, legislation, technological advances, and a vast number of other factors. Any attempt to control prices would throw a monkey wrench into the works. It would be patently obvious to the experts. I’m sure that the con would be revealed to the world within the very first day---if not the first few hours!

MeaninglessHotAir said...

One thing I've been wondering. If oil companies are controlling the price of gasoline, why are they leaving the price at a mere $3 or so per gallon? Why not move it on up to $4? Wouldn't that get them more filthy lucre? And why stop there? Why not $5 or $10? Or $100? I just don't understand why they're content with $3. Is it altruism?

CF said...

They want to keep it lower so you don't develop cheap renewable energy resources or perpetual motion machines that keep the earth pristine and power lines and pipelines that are invisible. They keep the price just lower than the alternatives. Gee--I have to explain everything, don't I?

terrye said...

cf:

yes, and if they got the price too high for too long then someone would eventually catch onto their Enron style scheme.

I do think that Enron had a little something to do with this kind of thinking. The behavior of those executives validated the paranoia.

Knucklehead said...

Gaia help us all if we get a full moon on Holloween this year.

Stephen-M - excellent point.

MHA - comeon, Dude, if the Oilgopoly raised prices that high the 200mpg carburetor would get invented again. There's another one, BTW, that people who should know better still believe.

chuck said...

carburetor?

Knucklehead said...

Surely you have heard about the wonders of the 200 MPG carburetor?.

Here's a guy who will sell you the secrets of the 200 MPG carburetor for a mere $14.95. He's on to something if you aks me. As he points out, the patent is expired and anyone at all can build and sell the things - all you need are the drawings!

Seneca the Younger said...

Ten cents a gallon? Feh. I get that from Safeway.