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this is a discussion within the Everything Else Community Forum; Upon further review, I see it's already been addressed in a previous thread, http://blackandgold.com/ee/41978-i-w...mned-high.html ....
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03-10-2012, 08:08 AM | #11 |
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Upon further review, I see it's already been addressed in a previous thread, http://blackandgold.com/ee/41978-i-w...mned-high.html.
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03-10-2012, 09:09 AM | #12 |
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Location: SW Ohio
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In my opinion Wall Street (actually the New York Stock Exchange, NASDAQ, etc) is broken. Once upon a time (a phrase used to begin many a fairy tale) Wall Street was created as a place for businesses to raise capital. If you had a new idea for a business or needed to expand your business you sold a piece of the company as stock to private investors. Investors bought and sold stock in companies based upon their long-term perfornace, market trends, etc.
For nearly 200 years this worked really well. Today, the whole system looks more like Vegas-east where money is bet not invested. Day traders buy and sell, flipping stocks so fast that the actual performance of a company is often not the issue at all. You make short term bets on stock, commonidites, etc and if you're a big enough player your bet moves the market. In short the game is fixed. So, when traders, hedge fund managers, etc take positions on oil they have no intent on ever taking delivery. They are only betting the price will go up or down. This creates a false "demand" driving the price up or down and the traders win. Unfortunatley, for every winner there is also a looser and in this case it is us, the consumers. Will the problem get fixed, highly unlikely. Wall Street money actually fixes two games. First, the trading process itself, as described above. Second, a chunk of the "profits" from the trades flow back to Washington in the form of campaign contributions, in short, protection money. If you have a problem with low blood pressure I suggest reading Throw Them All Out by Peter Schweizer. |
03-10-2012, 12:26 PM | #13 |
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Originally Posted by skymike
They pay well over 6 bucks a gallon in Europe. The 'lucky' folks in some places in Europe are paying just under 6 bucks a gallon.
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03-10-2012, 02:11 PM | #14 |
03-10-2012, 06:35 PM | #15 |
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It's $3.59 here in Nawlins. I did a little math. I basically work 2 full days for free every month. Between driving 73 miles a day, 5 sometimes 6 days a week, and $2.00 toll for the same said days. What you gonna do, there are bills to pay.
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03-11-2012, 06:39 AM | #16 |
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Originally Posted by saintfan
Across the river, Canadians are paying approx. $1.30CAN per litre, they also use an Imperial Gallon which is 4.5 litres/gallon as opposed to the US Gallon which is 3.78 litres/gallon. That translates into about $5.85 gallon. They've always had pretty high gas prices compared to us, but they get more gas per their gallon.
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03-11-2012, 10:24 AM | #17 |
Originally Posted by SloMotion
yeah ... for sure... although there have been a couple of new refineries come online recently, there are too many older ones that need updating.. and we need some new ones too just to keep up with demand.
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Last edited by SmashMouth; 03-11-2012 at 10:30 AM.. |
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03-12-2012, 02:13 AM | #18 |
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Location: Märsta, Sweden
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We pay about $8 per gallon in Sweden right now. Our taxes on gas are really high. But I went trough college for free and don't pay much for healthcare so I'm pretty happy about it.
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03-12-2012, 11:03 AM | #19 |
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Tags |
conservation, drill, embargo, gas, gulf, inflation, oil, pipeline, shale, spill |
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