Wednesday, September 20, 2006

Gasoline Prices to Rise on Schedule

Business? it’s quite simple: it’s other people’s money.
Alexandre Dumas (1824–95), dramatist

It’s almost as if on cue. The headline in yesterday’s Los Angeles Times at the top of page four in the Business section encourages drivers to “Enjoy cheaper Gasoline, for Now.” Soon prices will be reacting to concerns about Iran’s nuclear enrichment program and continued delays in starting production at oil giant BP’s Thunder Horse platform in the Gulf of Mexico. Now the facility won’t be open until mid-2008.

This is why I have a hard time believing oil prices are not manipulated through a labyrinth of arcane deals that only Inspector Clouseau could uncover through serendipity.

According to the article, Monday was the first time since March that American motorists spent less than $1 billion a day on gasoline.

As I have predicted, no matter the excuse, gas will be $3.25 a gallon by Thanksgiving.


Chandira said...

One more reason I don't own a car.. Been lucky and have got away with that for 6 years now, and aboout 11 years in England, I've never owned one! I'm not about to start now, either.
My office manager said to me one day that she spends about $3-400 a month on hers, with payments, insurance, gas, repairs. She said there's no way I'd spend that on busses and taxis in a month, and she's right! My $56 buss pass gets me everywhere I need to go for a month. But having said that, Robert has a car, so it's not like I don't get the benefits of that occasionally.
I'm doing what I can to refuse to feed the machine.

theBhc said...

I've seen these various reports coming out here and there, all saying the same thing. This will be a temporary lull, so conveniently timed, so be prepared to suck it up again. The whole thing is a charade. Who knows what is really going on.

The drive-in utopia (if i may borrow a phrase) is lurching along with expensive gas, which miraculously is now dropping in price like some sort of rope-d-dope trick. Do we really think oil is going to get and stay cheap? It's all a sham. One day OPEC says they're straining to keep up with demand, that there is no swing capacity. The next they tell us everything is great, they've got too much oil on hand and need to cut back. They can't keep up and have to cut back, all within three months. The happy idiots of the "free market" rationalize it all in the most hysterical ways. I actually saw one guy say that the market is responding to a stabilizing situation in the Middle East. Right. Back in the spring everyone was predicting $100/bbl oil. So what happened? Nothing has changed in the Middle East. What was that wonk talking about? Nothing. He was just pulling shit out of his ass, hoping no one noticed that it didn't smell like daisies.

I couldn't help but notice Taylor never responded. I'm sure he thinks we're all completely deluded because we suspect the oil companies of bad behaviour. I guess you must be crazy to think that.

The Misanthrope said...

Chandira, I am tired of driving. My car is 1.5 years old and I have 40k on it already and I only travel to work and back, for the most part.

thebhc, I think Dr. Taylor feels he made his point. I don't have nearly the faith he has in the system. The system is rigged with friends and lobbyists, which is another post altogether regarding friendship, which today is someone you network with not count on.

Uisce said...

manipulated? ha! I'd like to know if there's anything they DON'T manipulate!

p.s. my blog has moved -- Whiskey Talking now lives at