Originally Posted By Dabob2 Curse my socially conscious mutual funds!! (Actually, they've outperformed the S&P 500 and most mutuals. But not oil and defense).
Originally Posted By fkurucz >>Actually, they've outperformed the S&P 500 and most mutuals.<< That's pretty good. Few managed funds outperform the S&P 500.
Originally Posted By mrichmondj The Dow has outperformed the S&P since 2000. The S&P has been a relative laggard for the past 6 years compared to some other indexes.
Originally Posted By Mr X Hey Jon, are you still invested in oil? If so, do you believe the current downtrend to be temporary?
Originally Posted By jonvn Yes, and if you mean the downtrend in prices, then yes. It'll go back up right after the elections, I suspect.
Originally Posted By cmpaley >>It'll go back up right after the elections, I suspect.<< My right-wing spin prediction on that: "Yeah, but remember, the holiday driving season is gearing up and refineries are now making heating oil, so demand is going up and supply is down a little." Pish-tosh is what I say to that!
Originally Posted By jonvn I'm sure there will be some good sounding reason that the prices going down right now, which helps the Republicans and by extension the oil companies, will go right back up after the election. It does appear, though, that people are really quite stupid in regards to this stuff. Everyone is happy they are now only paying twice what they did a couple of years ago. Jack up the prices way high, then drop them down to a much higher level than where they were before, and you get people saying it's great. It's not great.
Originally Posted By fkurucz >>It does appear, though, that people are really quite stupid in regards to this stuff.<< Yup. Now it "only" costs me $36 to fill up, instead of $45. Whoopee!!! Wait a minute, it used to only cost $20!!
Originally Posted By jonvn I pointed this out earlier on one web page or another (I can't recall which) and people got annoyed with me saying that they were just happy that they were paying less than before. Except that we are paying like 50% at least or more than we were before. For basically no reason.
Originally Posted By DouglasDubh The reason is supply and demand, just like it is for every other commodity.
Originally Posted By cmpaley >>The reason is supply and demand, just like it is for every other commodity.<< You go right on believing that.
Originally Posted By jonvn Thanks for that stunningly simple minded reasoning behind the prices we are paying for gasoline. And, yes, go on believing that. When you're finally living in a hovel, having to pay twenty times what you do now just to have a bit of warmth in the winter, maybe then you'll figure out that you were screwed over. Until then, enjoy your lifestyle.
Originally Posted By fkurucz >>The reason is supply and demand, just like it is for every other commodity.<< True, but by keeping domestic refining capacity low supply can be restricted.
Originally Posted By fkurucz >>When you're finally living in a hovel, having to pay twenty times what you do now just to have a bit of warmth in the winter, maybe then you'll figure out that you were screwed over.<< As some of you know, I used to live in Mexico City. Unlike in the lush tropical areas, it gets pretty cold there in the winter (it definitely drops below freezing). Few homes have central heating, and are freezing mausoleums (all construction is brick and concrete) in the Winter. Few people can even afford room heaters, so they just tough it out. Anyway, I have seen the future, and its cold.
Originally Posted By fkurucz >>spoken like a true PR guy for ExxonMobil<< Huh? I was pointing out a way big oil can manipulate gas prices.
Originally Posted By cmpaley >>>>spoken like a true PR guy for ExxonMobil<< Huh? I was pointing out a way big oil can manipulate gas prices.<< I think he was referring to Douglas' "reason" for the extreme fluctuations in gas and oil prices.
Originally Posted By SingleParkPassholder I'm not driving any less than I was when gas was over $3.00 a gallon, so my demand hasn't changed, only the price.
Originally Posted By vbdad55 funny I don't remember details of a world wide shortage, and the fact that demand has abated recently. That would be supply and demand.
Originally Posted By DouglasDubh Greater demand for oil by China and other countries as driven up the global price, and here in America our refinery capacity has not kept up with growth. Those two things, along with general inflation, are driving up the price.
