Favonius Cornelius Posted September 20, 2006 Report Share Posted September 20, 2006 Speaking of numbers, price of gas here in San Diego has dropped some 40-50 cents. Amazing isn't it, the effect of fall has on gas prices? I'm sure the elections in a month have nothing to do with it! Corporations don't have ANY power in the government! Amazing gas prices, I've never seen them fluxuate as wildly in my 20 years of paying attention to them as with the last 6 years. Link to comment Share on other sites More sharing options...
M. Porcius Cato Posted September 20, 2006 Report Share Posted September 20, 2006 Elections occurring in one month have nothing to do with gas prices. There is a seasonal fall in demand. If you don't believe in the seasonal theory, let's try an experiment. You buy a gallon of gas on November 15 (after elections), and I'll buy it back from you in July (before elections, but during the summer) at the November 15 price. See you in the poor house, mate! Link to comment Share on other sites More sharing options...
Favonius Cornelius Posted September 20, 2006 Author Report Share Posted September 20, 2006 Uh huh... Link to comment Share on other sites More sharing options...
Gaius Octavius Posted September 20, 2006 Report Share Posted September 20, 2006 Thank God that we are already in the Arena. I can see the tyrant's fingers itching to strike. Some years ago, there came to be a 'beef' vs 'chicken' war. The supply and demand for beef remained constant, yet its price rose. The polloi were fed the pap that the 'cost' of production caused the price rise. The multitudes took to buying 'chicken' and magically the 'cost' increase must have misappeared as the price of beef plunged. Now it came about that the 'cost' of producing chicken rose. The demand increased but the supply easily kept up, and it came to pass that the price rose - once again. At the time it called to mind a prof's question as to how 'things' are priced. S & D? Cost? Etc.? Well, not altogether so. "What the market will bear." Bingo! Coffee may respond to S & D as there are many producers. Oil is an oligopoly and responds to price fixing - just as U.S. Steel once used to have an annual meeting of producers at which the price of steel was set for the year - by U.S.S. Elections do effect markets. Link to comment Share on other sites More sharing options...
M. Porcius Cato Posted September 20, 2006 Report Share Posted September 20, 2006 If you really think that there is an election-driven price plunge (by what magic I'd love to know), then the fall in prices should reverse after the elections. I think you two are all wet, and I'll bet you gasoline prices (currently averaging $2.84/gallon nationwide) do not climb after Election Day--you ready to make that wager? Say, a $50 gift certificate to Amazon.com if the average nationwide gasoline prices aren't higher by Thanksgiving? Come on, guys--put your money where your mouth is. Link to comment Share on other sites More sharing options...
Gaius Octavius Posted September 20, 2006 Report Share Posted September 20, 2006 I am really surprised! Are there two MPC's hereabouts? If I am one of the two who is "all wet", I will lay you odds on anything I have said, (not what you say) at whatever you can afford. Whatever I WILL win, I will give to UNRV for books to members. Link to comment Share on other sites More sharing options...
M. Porcius Cato Posted September 20, 2006 Report Share Posted September 20, 2006 FC claimed that gasoline prices were falling for some reason connected with the upcoming elections. GO claimed that "elections affect markets" (which is vague enough to mean anything). Now, if you two--GO and FC--want to claim (and maybe this wasn't your intent) that recent prices are falling due to the upcoming elections, then in logic they should rise again after the elections are over. I'm willing to bet that claim is completely wrong--it could be right, but my guess is that gasoline prices are falling due to seasonal demand and will continue to do so up to Thanksgiving at least, and I'm willing to put money on my hypothesis against the alternative one. Any takers? Link to comment Share on other sites More sharing options...
Favonius Cornelius Posted September 20, 2006 Author Report Share Posted September 20, 2006 I'll take on your bet Cato, but I'm too lazy to bet with money. Our fiscal reputations will have to be the currency. I say that gas prices will remain low until a few days after the elections, after which they will rise again. That is my gamble. By November most of the nation is cold so if they remain fairly low then it would be artificial. This bet is assuming nothing major happens in the Middle East. The October suprise is Bush talking softly at the UN (Bush talking at the UN at all for that matter), and remarkably low gas prices. Link to comment Share on other sites More sharing options...
M. Porcius Cato Posted September 20, 2006 Report Share Posted September 20, 2006 OK, I can respect that (though I was looking forward to a new Roman history book). Now let's agree on a source for national gasoline prices on 11/22. Can we agree to those publised by the Energy Information Administration? As of 9/18, US gasoline was selling at $2.49. If on 11/22 prices are higher, you win; if not, I win. BTW, who heats with gasoline? Link to comment Share on other sites More sharing options...
Gaius Octavius Posted September 20, 2006 Report Share Posted September 20, 2006 (edited) G.O., M.P.C., F.C., this has become unworthy of ourselves and will only get us all thrown off the board. Whatever twaddle we must engage in, lets do it by P.M.'s. The tyrants, justly, won't stand for it. So, lets make an end to Eco none-o-one. I apologize to all for my untoward behavior. Edited September 20, 2006 by Gaius Octavius Link to comment Share on other sites More sharing options...
M. Porcius Cato Posted September 20, 2006 Report Share Posted September 20, 2006 I don't think it's unworthy at all--it's perfect for the Arena, and I wish all our debates would end in opposing, verifiable predictions with a clear answer. This is high drama: we can all find out in the future whether I'm wrong or I'm right. Link to comment Share on other sites More sharing options...
Gaius Octavius Posted September 20, 2006 Report Share Posted September 20, 2006 (edited) I don't think it's unworthy at all--it's perfect for the Arena, and I wish all our debates would end in opposing, verifiable predictions with a clear answer. This is high drama: we can all find out in the future whether I'm wrong or I'm right. But not bets! It's not drama; it's baloney. See my PM. FYI, only my Bride and kids win bets with me! Don't tempt fate! Edited September 20, 2006 by Gaius Octavius Link to comment Share on other sites More sharing options...
Moonlapse Posted September 21, 2006 Report Share Posted September 21, 2006 Well, I'm entertained... at least theres a reason for people to look into and pay attention to these things. Gasoline prices typically drop after summer and will get to about $2.50 this winter, rising again in February. Supplies are higher this year and demand is growing more slowly. It also doesn't hurt that this hurricane season was uneventful. BTW, I'm going to split this topic. Link to comment Share on other sites More sharing options...
Favonius Cornelius Posted September 21, 2006 Author Report Share Posted September 21, 2006 I need to stress my stipulation: there has to be no major event that plays into Republican hands. A new war, American terrorist attack, Republican assassination, Osama bin Ladin found hiding in Texas, etc. According to my theory, any of these would give enough added momentum to Republicans in general for big oil to turn up the prices and bring in more money. So long as things are business as usual until December after the election, and we have to wait until a few weeks into December to see the increase. We should do this again in 2007, I bet in that year the price would decrease slightly this time of year but no where near an astounding $0.50 As far as oil consumption Cato, the deeps of winter and summer cause more of it to be used, how and why are numerous. Link to comment Share on other sites More sharing options...
Primus Pilus Posted September 21, 2006 Report Share Posted September 21, 2006 This kind of thing you guys really ought to do in private. Link to comment Share on other sites More sharing options...
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