Gas-Tastic

"...perhaps in cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 absence of hurricanes and ocá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365r phenomena that shift cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 demand for oil upward, prices naturally drop," said CF yesterday as she pointed out a trend we are all seeing at cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 gas pump: prices are falling.

But it would be wrong to claim that this short period is indictive of a larger trend, just as pundits were wrong when cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365y screamed doomsday only a few months earlier as gas prices rose. What is causing oil prices to fall now is cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 result of a game of catch-up. It takes a good six months for petroleum to go from ground to gas station. Even though oil companies pumped more oil when gas prices started to rise, we are now only seeing those benifits; supply is merging with demand.

It's true that prices naturally drop, but we have to look at a much longer time period. Check out this graph from wtgr economics.



Note that oil prices were falling for about cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 fifteen years before cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 creation of OPEC in 1973 and have been stochastic ever since. A non-market organization made prices flucutate, it seems, not cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 market itself.

Consider now cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 role of tar sands and oil shales, two sources of oil cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 industry didn't consider profitable until not too long ago. The former source is pretty evenly split three ways between cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 Mid-East, Venezuela and Canada and makes up about 2/3 of cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 oil reserves in cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 world. The latter is mostly in cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 US--1.2 trillion barrels worth. Oil companies are extracting or planning to extract oil from cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365se sources, a process that becomes more worthwhile as prices and volatility rises. As this production increases, OPEC will become less significant and prices will cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365n follow cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 trend we saw in cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 pre-OPEC days. Imagine a newspaper headline in cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 year 2025 reading,

"Though NA Net Oil Exports Continue To Rise, Congress Worries About Falling Gas Prices"

Fricking Gas-Tastic.