AmbergrisCaye.com Home

the gas crooks dropped prices ..

Posted By: captjeff

the gas crooks dropped prices .. - 09/30/06 04:56 PM

Well just returned from a business trip ,and filled my car up ,the prices was cheap compared to the summer high rip off prices !!! the gas was $2.12 a gallon and high test was $2.39 .Looks like the oil compines crooks were asleep .There screw the public overpricing team ,who manipulates the prices up must be on a vacation !!!! We should hang them all!!!In the public square.Then the corrupt politicians who take there bribe money ,We should hang them all next..How we let them get away with this is just crazy... But I am still having a living the dream day in spite of thinking those oil thieves!!!!!!!!!!!!!!!!!
Posted By: Uncle Buck

Re: the gas crooks dropped prices .. - 09/30/06 05:16 PM

Even at $2.39 a gallon, is by far the cheapest gas price throughout the majority of the world.
Posted By: captjeff

Re: the gas crooks dropped prices .. - 09/30/06 05:21 PM

Your right ,But there still crooks!!!!!!!!!! should be $1.00 OR LESS.. let us see when gas drops in sanpedro.????????????? bet ya ,never..but thats another story!!!!!!!
Posted By: Anonymous

Re: the gas crooks dropped prices .. - 09/30/06 05:24 PM

And your cruises should be much cheaper, but thats someone elses fault- right?
Posted By: captjeff

Re: the gas crooks dropped prices .. - 09/30/06 06:01 PM

What do gas prices ,and cruises have to do with me ? You think I own cruise ships??? You can not be that stupid.And if gas prices go down has that ever affected travel prices to go lower ??cruises /air fare ,Think not genius .This troll is winner..What is your problem..
Posted By: Anonymous

Re: the gas crooks dropped prices .. - 09/30/06 09:08 PM

qwicherbichin!!!
Posted By: deacon+

Re: the gas crooks dropped prices .. - 09/30/06 09:20 PM

The oil companies like mant others get away with it because they can. Change the President to one who cares about the country not his pocket book.{right like there's one that exsists}.
Posted By: SFJeff

Re: the gas crooks dropped prices .. - 09/30/06 09:41 PM

Hey, cut the big oil Co's some slack, would ya... I mean Exxon's first quater profits this year were actually LOWER than analyst's forecasts... a mere $1,080...

Oh wait, nevermind... 'was "$1,080 a second." Ha, silly me.

Uh... guess Exxon made 8.4 billion... eh, not bad for a couple of months...

Do you think that does or does not include the billions in oil revenue "unaccounted for" in Iraq??? Eh, who can be expected to keep track of EVERY cent, I mean really!!!
Posted By: kris48

Re: the gas crooks dropped prices .. - 09/30/06 10:23 PM

Local editorial cartoon.
$1.59 gas--due to mid-term elections.
Makes sense!
Posted By: sandb

Re: the gas crooks dropped prices .. - 10/01/06 02:01 AM

Quote
Originally posted by captjeff:
Your right ,But there still crooks!!!!!!!!!! should be $1.00 OR LESS.. let us see when gas drops in sanpedro.????????????? bet ya ,never..but thats another story!!!!!!!
What it should be is what it is. It's called supply and demand brought to you by free enterprise. Don't like it? Stop driving, move where gas is cheaper, whatever. What is your solution? smile
Posted By: deacon+

Re: the gas crooks dropped prices .. - 10/01/06 02:17 AM

Revolution??!!!
Posted By: sandb

Re: the gas crooks dropped prices .. - 10/01/06 02:40 AM

Wow, complaining about a gallon of gas being $2.12. What color is the sky in your world? :rolleyes:
Posted By: captjeff

Re: the gas crooks dropped prices .. - 10/01/06 01:00 PM

My point if gas was $3.59 now $2.12 why the change in price ??? I love free enterprise, but not the crooks who have the goverment rapped around there fingers !!! This is not about me.or what I can afford or not afford ,or the poor working man working three jobs just to live . My point was how they can move the rate any way,or time they want. like november elections!!! are going to be here fast.So lets keep the price low for now.. And my sky is blue, all the time!! ask any one in sanpedro who knows me !!all know who I realy am!! Not like you who hids there identity from the board.maybe you and gringostar are cousins or maybe the same person.???
Posted By: Anonymous

Re: the gas crooks dropped prices .. - 10/01/06 01:25 PM

No, theres a bunch of us that are sick of your ranting about American problems on our Belize message board. Go somewhere else.
Posted By: Nova

Re: the gas crooks dropped prices .. - 10/01/06 01:52 PM

Back off gringo - you're not above a rant or two of your own, and you're certainly not the board police!
Posted By: captjeff

Re: the gas crooks dropped prices .. - 10/01/06 01:53 PM

Another troll appears , from under a rock..Ok how much is gas in Sanperdo ,Ask a local fisherman about ranting on gas prices, there is not a day go by that belizeans talk about gas prices !!Are you are so dumb did not get the message,this is not about me or you??OR where ever you realy live .It is about the total world problem..I have no Idea why I am talking to a troll????????????????????????????????????????????
Posted By: klcman

Re: the gas crooks dropped prices .. - 10/01/06 01:59 PM

Let it go Cappy........ wink Mortality rate for trolls left unfed is nearly 100%
Posted By: captjeff

Re: the gas crooks dropped prices .. - 10/01/06 02:14 PM

klcman I just got a revelation your sooooooooooooo right.Thank you for showing me the light!!!!!!!!!!
Posted By: ChrisW

Re: the gas crooks dropped prices .. - 10/01/06 02:32 PM

"What it should be is what it is. It's called supply and demand brought to you by free enterprise."

Price swings of that magnitude and speed are not a result of simple supply and demand changes. Swings like that are caused by speculation (people buying and selling "paper" oil when they don't really want possession of the real oil) and by other types of "unnatural" market forces.
Posted By: Anonymous

Re: the gas crooks dropped prices .. - 10/01/06 02:44 PM

I agree, Chris, it's certainly not supply and demand. But don't the futures traders base what they do on OPEC's constant changes/control of it's output quotas? In other words, aren't the countries in OPEC the "bad guys?"

And re the difference in prices, OPEC sells at the same price to everyone. The price differences are based entirely on individual country tax systems, Belize pays what it does for gas due to the actions of its government.
Posted By: travelqueen

Re: the gas crooks dropped prices .. - 10/01/06 03:37 PM

I saw it for $2.02 on the north side yesterday! I just may go back there tomorrow! wink
Posted By: sandb

Re: the gas crooks dropped prices .. - 10/01/06 03:42 PM

"And re the difference in prices, OPEC sells at the same price to everyone. The price differences are based entirely on individual country tax systems, Belize pays what it does for gas due to the actions of its government."
Notwithstanding the variable mechanics and cost of delivery, excellent point...taxes mad

"Price swings of that magnitude and speed are not a result of simple supply and demand changes. Swings like that are caused by speculation (people buying and selling "paper" oil when they don't really want possession of the real oil) ..."
In my mind the swings in the price of oil are indeed speculaion...based on perceived supplies(globally there's plenty; we're talking about how much OPEC and others open the tap) and demands. It is how the sysytem is designed to work. It's the same concept as the gas station raising its prices even though it just filled up its tanks with cheaper gas...the price was raised on speculation as to the next price that the station will pay. And the converse is true and balances things out. The current drop in price at many pumps has occurred while the previous higher priced gas is still in its tanks
And, how is the price of gold determined? Speculation...just my $.02 on a Sunday morning. smile
Posted By: 2MILESNORTHOFCUT

Re: the gas crooks dropped prices .. - 10/01/06 04:14 PM

What is the current price of gasoline in San Pedro at Texaco station on back of caye? (I just wanted to know how many suitcases of $$ to bring down to fill up the Yacht?)
Posted By: klcman

Re: the gas crooks dropped prices .. - 10/01/06 04:37 PM

I've seen that yacht - looks to me like it would take about 150 suitcases to fill it up.
Posted By: captjeff

Re: the gas crooks dropped prices .. - 10/01/06 04:46 PM

2 miles whats a matter with you ??Stop talking about gas prices,in sanpedro in fact gringo what ever said ,Americans get off ranting about gas prices on the message board ..Did you not hear what he or she or it said.There is no problems with gas prices in sanpedro it is a american problem So please We are having a bad troll day..Do not say anything.!!!let it stay under it's rock..
Posted By: 2MILESNORTHOFCUT

Re: the gas crooks dropped prices .. - 10/01/06 04:59 PM

Right Cappy, Who cares how much gas costs in San Pedro, We pay what we have to or go somewhere else. I'll bring enough $$ to LTD. KLC, Ya think? I have to go to the mall and buy some additional suitcases. (Let's see American airlines @ $50.00US per extra checked luggage times 150 eek ) I think It's cheaper to buy my own airplane to get my fuel $$ there. Hey Cappy Want to buy a share in a Gulf-stream-3 with me? wink
Posted By: ChrisW

Re: the gas crooks dropped prices .. - 10/02/06 01:27 PM

The original intent of the futures market is kind of lost now (or at least overshadowed). The futures market use to be mainly to facilitate transactions between producers and consumers (example:farmers and cereal companies).

Now a days its used by gamblers (speculators) to bet on the future prices of different things. Which is fine until you consider that 90% of a given futures market volume might be bets being made be people who neither consume nor produce the product. IE its just pieces of paper being passed around.

All that betting doesn't negate the force of supply and demand on the price, but it does allow the current price to pull away from the natural price at least for a while. Think of the natural price as a nail in a wall that moves up and down with changes in supply in demand. And think of the betting factor as a rubber band and ball tied to the nail with ball being the current price. So the ball (current price) bounces up and down on the nail (natural price).

In a commodity market where most trades are actual exchanges between consumers and producers the rubber band would be short and the ball should always stay relatively close to the nail. Most of the movement is caused by the nail moving up and down on the wall (supply and demand). On the other hand, if 90% of trades are bets and 10% are actual consumer/supplier transactions, the rubber band is long and stretchy and the ball bounces all over the place. And worst case scenario you end up with a tail wagging the dog situation where the biggest part of a price change is from the rubber band (betting) and not the nail (supply/demand).

So to answer the question about OPEC, yes they can in theory influence the nail by controlling supply, but in my mind the bigger problem is that all the betting in the market makes it way to easy for OPEC and OTHERS to influence the price simply by telling stories and making the ball bounce around.
Posted By: ChrisW

Re: the gas crooks dropped prices .. - 10/02/06 02:03 PM

Here is one theory about how the latest large "unnatural" price movement of gas came about:

-------------------

Change in Goldman Index Played Role in Gasoline Price Drop

By HEATHER TIMMONS

Published: September 30, 2006

LONDON, Sept. 29 ó Politics and worries about oil supplies may have caused gasoline prices to go up at the pump earlier this year, but one big investment bank quietly helped their rapid drop in recent weeks, according to some economists, traders and analysts.

Goldman Sachs, which runs the largest commodity index, the G.S.C.I., said in early August that it was reducing the index's weighting in gasoline futures significantly. The announcement did not make big headlines, but it has reverberated through the markets in the weeks since and some other investors who had been betting that gasoline would rise followed suit on their weightings.

"They started unwinding their positions, and those other longs also rushed to the door at the same time," said Lawrence J. Goldstein, president of the Petroleum Industry Research Foundation.

Wholesale prices for New York Harbor unleaded gasoline, the major gasoline contract traded on the New York Mercantile Exchange, dropped 18 cents a gallon on Aug. 10, to $1.9889 a gallon, a decline of more than 8 percent, and they have dropped further since then. In New York on Friday, gasoline futures for October delivery rose 4.81 cents, or 3.2 percent, to $1.5492 a gallon. Prices have fallen 9.4 percent this year.

The August announcement by Goldman Sachs caught some traders by surprise. The firm said in early June that it planned to roll its positions in the harbor contract into another futures contract, the reformulated gasoline blendstock, which is replacing the harbor contract at the end of the year because of changes to laws about gasoline additives.

Later in June, Goldman said it had rolled a third of its gasoline holdings into the reformulated contracts but would make further announcements as to whether the remainder would be rolled over. Then in August, the bank said it would not roll over any more positions into gasoline and would redistribute the weighting into other petroleum products.

Goldman Sachs declined to comment. Some traders speculated that Goldman might have been concerned about the liquidity of the reformulated contract and whether other traders would embrace it because there were so few contracts outstanding. The open interest, or number of futures contracts taken out, has increased ninefold in the reformulated contract since then.

Unleaded gasoline made up 8.72 percent of Goldman's commodity index as of June 30, but it is just 2.3 percent now, representing a sell-off of more than $6 billion in futures contract weighting.

Like many market indexes, trading in the Goldman Sachs Commodity Index is publicly available, allowing individual investors and third-party asset managers to participate in that market. The $100 billion invested comes from brokers, fund managers and individuals, probably including some of the same people who were hurt by high gasoline prices earlier in the year.

Goldman's announcement on Aug. 9 was not the only downward pressure on prices that week, market participants stress. And while it may have played a part in sending prices down, the market would never have continued its downward trend unless supplies had loosened up, they say.

Also during that week, climatologists revised their hurricane forecasts, easing fears that oil supplies could be disrupted. And BP said it would still produce some oil from its field in Prudhoe Bay, Alaska, where leaks were being repaired. Meanwhile, the peak gasoline season was ending, and new supplies of ethanol were coming online.

The week started with "everyone talking about $4 gasoline and ended with the market down sharply," said Phil Verleger, an independent economist in Aspen, Colo.

In following weeks, "traders all tried to push themselves through that door," Mr. Goldstein added.

"We saw gasoline fall 82 cents in the wholesale market over a four-week period, which is unprecedented," he said. Mr. Goldstein said that the decline in gasoline prices helped send prices of the whole group of energy-related products down.

Now, rather than highs, these products are hitting lows ó natural gas, for example, traded on Wednesday at its lowest price in four years.
Posted By: GAY AND DAVID

Re: the gas crooks dropped prices .. - 10/02/06 08:06 PM

i saw $1.99 per gal yesterday on my side of town. i brought it to the mister's attention, but, he said he had lots of gas :rolleyes:
Posted By: 2MILESNORTHOFCUT

Re: the gas crooks dropped prices .. - 10/02/06 08:18 PM

I saw $1.97 at a WaWA store in south jersey today. Said to my coworker wow look at that CHEAP GAS eek
Posted By: patatjemet

Re: the gas crooks dropped prices .. - 10/02/06 08:39 PM

CJ is right on it.
cheapest gas here in so. cal. is $2.59
Came down from $3.35 not to long ago.
And why is diesel, the "unfinished product"
even more expensive? Talking about crooks....
confused
Posted By: SimonB

Re: the gas crooks dropped prices .. - 10/03/06 02:54 PM

From Channel 7 News (mainland prices quoted):

An Ease at the Gas Pump

Tonight, the price for a gallon of premium fuel in Belize is the lowest itís been since December of 2005.

At 12:01 on Sunday morning the pump prices for a gallon of premium fuel rolled back a dramatic 81 cents for premium fuel Ė bringing it to $9.72 a gallon, 76 cents for regular fuel which is now $9.29 a gallon and 77 cents for diesel, which is now $6.78 a gallon.

This is the second decrease in five weeks and the decreases come after world oil prices have steadily declined. Tonight the best advice is to enjoy the mild reprieve, but donít get too used to it, as world oil prices are reportedly on the rebound.
Posted By: MALIBU

Re: the gas crooks dropped prices .. - 10/03/06 08:13 PM

My vote: They're crooks!
Posted By: Anonymous

Re: the gas crooks dropped prices .. - 10/03/06 09:02 PM

today in nj $1.71 for bulk diesel cheapest in over a year! That will still put it at $2.25 for home delivery(heating-same stuff) guaranteed it'll be back to $3.00 first cold snap. Oil down over $2 a barrel today may hit $55 before re-ascending
Posted By: coolbummings

Re: the gas crooks dropped prices .. - 10/03/06 09:14 PM

I had to laff when I saw a car ad the other night touting an economical vehicle's consumption at 30 mpg....My honda which is almost 20 years old gets approximately 52 mpg on the highway....my volvo which is 35 years old gets about 30 mpg. It would probably get more but that is an engine overhaul issue. My Suzuki 4by4 gets 35 mpg and it is 10 years old.

I suppose though, after years of driving broncos, explorers, suburbans and the like 30 mpg would sound economical.

WAKE UP PEOPLE and stop the whining. Nice though to see prices have dropped here in Belize somewhat. THANK YOU MR. CHAVEZ. har de har har.
Posted By: Laguna Punta

Re: the gas crooks dropped prices .. - 10/04/06 05:10 AM

Gas prices...must be a dartboard in someones office. :rolleyes:
Posted By: CarribeanSunSeeker

Re: the gas crooks dropped prices .. - 10/05/06 07:37 PM

Thanks ChrisW. Your posts help to show how the market for gas and oil prices work and how complex the workings of the market are. Even though large oil companies like Exxon Mobil are making a huge profit, (Should there be a windfall profits tax?) their profit only represents a few cents a gallon. They do not set the price.
The only power the government has over energy is to tax oil and gas and to encourage (research grants and tax incentives) alternative energy. Unfortunately this policy will cause gas and oil prices to the consumer to rise, at least in the short term. After the "oil shortage" in the 70's Jimmy Carter tried to promote this type of policy. Recession and reduced oil prices ended his initiatives.

CaptJeff, Hard to find "crooks" in this story. Would it be the OPEC nations, the oil conpanies, the energy speculators or the governments involved. Seems to me there are no crooks but plenty of greed from the producers to the consumers that fuel their large SUV's, homes, boats etc. without any concern for energy conservation or alternative fuel sources.
Posted By: dogmatic prevaricator

Re: the gas crooks dropped prices .. - 10/06/06 11:15 AM

From a functionally ambivalent perspective, maybe the US citizenry should petition Congress to author legislation to deport the entire population to Mexico. That action would serve to dramatically reduce the collective US carbon footprint. Less energy would be consumed because we wouldn't be driving cars, utilizing air-conditioning and otherwise practicing a high energy consuming US lifestyle. This would also provide an opportunity for Canadian territorial expansion as well.
© 2022 Ambergris Caye Belize Message Board