Sorry, you are wrong/ Couldn't be more so if you tried harder. Get over yourself and back to ranch 101 economics. It seems your speed.Flumper wrote: ↑Tue May 12, 2020 12:42 amwhat a dumb ass.WestTexasCrude wrote: ↑Tue May 12, 2020 12:23 am We aren't selling jalapenos, idiot but the life blood of every economy on Earth. Wall Street speculators seeking short term profits have nothing to do with the year/ year Supply/ Demand World wide situation. I hope this clears it up for someone who seems stuck in some fantasy economic World.
Oil ↓
Moderator: Animal
Re: Oil ↓
- Animal
- The Great Pretender
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Re: Oil ↓
how about you do something, then. how about you explain to me how the price of oil is set? who determines it and how?WestTexasCrude wrote: ↑Tue May 12, 2020 12:50 amSorry, you are wrong/ Couldn't be more so if you tried harder. Get over yourself and back to ranch 101 economics. It seems your speed.Flumper wrote: ↑Tue May 12, 2020 12:42 amwhat a dumb ass.WestTexasCrude wrote: ↑Tue May 12, 2020 12:23 am We aren't selling jalapenos, idiot but the life blood of every economy on Earth. Wall Street speculators seeking short term profits have nothing to do with the year/ year Supply/ Demand World wide situation. I hope this clears it up for someone who seems stuck in some fantasy economic World.
Re: Oil ↓
First, it not set by the Wall Street speculators looking for a quick buck on the next months futures short or long that you seem so infatuated about. Throw that out the window. Supply/Demand. OPEC used to set the price- but that's 50's years ago. "How is the price set"? "Who determines it and how"? Market economy. Simple as that. Glut due to the virus- low prices. Economy opens up- increased demand. prices rebound. It's really not that hard to fathom. It's been the exact history of the oil business for 180 years. And I'm fixing to go do something else.Flumper wrote: ↑Tue May 12, 2020 12:54 amhow about you do something, then. how about you explain to me how the price of oil is set? who determines it and how?WestTexasCrude wrote: ↑Tue May 12, 2020 12:50 amSorry, you are wrong/ Couldn't be more so if you tried harder. Get over yourself and back to ranch 101 economics. It seems your speed.Flumper wrote: ↑Tue May 12, 2020 12:42 amwhat a dumb ass.WestTexasCrude wrote: ↑Tue May 12, 2020 12:23 am We aren't selling jalapenos, idiot but the life blood of every economy on Earth. Wall Street speculators seeking short term profits have nothing to do with the year/ year Supply/ Demand World wide situation. I hope this clears it up for someone who seems stuck in some fantasy economic World.
- Animal
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Re: Oil ↓
the things that you describe set the supply and the demand. the actual price is set by the futures contracts traded on the commodity market. that market is where the two (supply and demand) come together. very few of the people trading futures contracts (percentage) are speculators. most of them are companies buying or selling oil at future prices. do some fucking research on the subject and learn a thing or two.WestTexasCrude wrote: ↑Tue May 12, 2020 1:17 amFirst, it not set by the Wall Street speculators looking for a quick buck on the next months futures short or long that you seem so infatuated about. Throw that out the window. Supply/Demand. OPEC used to set the price- but that's 50's years ago. "How is the price set"? "Who determines it and how"? Market economy. Simple as that. Glut due to the virus- low prices. Economy opens up- increased demand. prices rebound. It's really not that hard to fathom. It's been the exact history of the oil business for 180 years. And I'm fixing to go do something else.Flumper wrote: ↑Tue May 12, 2020 12:54 amhow about you do something, then. how about you explain to me how the price of oil is set? who determines it and how?WestTexasCrude wrote: ↑Tue May 12, 2020 12:50 amSorry, you are wrong/ Couldn't be more so if you tried harder. Get over yourself and back to ranch 101 economics. It seems your speed.Flumper wrote: ↑Tue May 12, 2020 12:42 amwhat a dumb ass.WestTexasCrude wrote: ↑Tue May 12, 2020 12:23 am We aren't selling jalapenos, idiot but the life blood of every economy on Earth. Wall Street speculators seeking short term profits have nothing to do with the year/ year Supply/ Demand World wide situation. I hope this clears it up for someone who seems stuck in some fantasy economic World.
- Animal
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Re: Oil ↓
no. not every one of them. some are speculators selling and then covering themselves by buying back before the contract expires. but that's a small part of it.WestTexasCrude wrote: ↑Tue May 12, 2020 1:28 amSo, you actually think these people "Own" these 100 million barrels you site. How quaint.
- Animal
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Re: Oil ↓
i'm frankly a little mind blown that you act as though you are so ingrained in an industry and such an expert on it, and yet you don't even grasp the most simple concept about how the price of oil is set from month to month, day to day, and minute to minute.
Re: Oil ↓
Yeah, I get it. It not just the price of oil posted at the end of the day to track. But, you are way overestimating the futures market. It's just way stimulated right now with the virus BS. Normal decades on end, prices month to month are steady as shit depending on the circumstancesFlumper wrote: ↑Tue May 12, 2020 1:24 amthe things that you describe set the supply and the demand. the actual price is set by the futures contracts traded on the commodity market. that market is where the two (supply and demand) come together. very few of the people trading futures contracts (percentage) are speculators. most of them are companies buying or selling oil at future prices. do some fucking research on the subject and learn a thing or two.WestTexasCrude wrote: ↑Tue May 12, 2020 1:17 amFirst, it not set by the Wall Street speculators looking for a quick buck on the next months futures short or long that you seem so infatuated about. Throw that out the window. Supply/Demand. OPEC used to set the price- but that's 50's years ago. "How is the price set"? "Who determines it and how"? Market economy. Simple as that. Glut due to the virus- low prices. Economy opens up- increased demand. prices rebound. It's really not that hard to fathom. It's been the exact history of the oil business for 180 years. And I'm fixing to go do something else.Flumper wrote: ↑Tue May 12, 2020 12:54 amhow about you do something, then. how about you explain to me how the price of oil is set? who determines it and how?WestTexasCrude wrote: ↑Tue May 12, 2020 12:50 amSorry, you are wrong/ Couldn't be more so if you tried harder. Get over yourself and back to ranch 101 economics. It seems your speed.Flumper wrote: ↑Tue May 12, 2020 12:42 amwhat a dumb ass.WestTexasCrude wrote: ↑Tue May 12, 2020 12:23 am We aren't selling jalapenos, idiot but the life blood of every economy on Earth. Wall Street speculators seeking short term profits have nothing to do with the year/ year Supply/ Demand World wide situation. I hope this clears it up for someone who seems stuck in some fantasy economic World.
- Animal
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Re: Oil ↓
this topic is way out of your wheel house. keep thinking that there is some magic store where big companies buy and sell oil. or some street corner they all stand on with barrels in the back of their trucks for sale.WestTexasCrude wrote: ↑Tue May 12, 2020 1:39 am Yeah, I get it. It not just the price of oil posted at the end of the day to track. But, you are way overestimating the futures market. It's just way stimulated right now with the virus BS. Normal decades on end, prices month to month are steady as shit depending on the circumstances
Re: Oil ↓
And I'm amazed at your lack of knowledge on how this industry actually works. It's been around almost 2 Centuries. Produce- pipeline -refine- ship. That's your 2 Century model. What Wall Street does with that is no concern here even if we could do anything about it. Capeche?
Re: Oil ↓
Or maybe Ease up and learn the truth. Or will your pride not allow that?Flumper wrote: ↑Tue May 12, 2020 1:43 amthis topic is way out of your wheel house. keep thinking that there is some magic store where big companies buy and sell oil. or some street corner they all stand on with barrels in the back of their trucks for sale.WestTexasCrude wrote: ↑Tue May 12, 2020 1:39 am Yeah, I get it. It not just the price of oil posted at the end of the day to track. But, you are way overestimating the futures market. It's just way stimulated right now with the virus BS. Normal decades on end, prices month to month are steady as shit depending on the circumstances
- Animal
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Re: Oil ↓
i'm laughing at how stupid you are about this.WestTexasCrude wrote: ↑Tue May 12, 2020 1:50 amOr maybe Ease up and learn the truth. Or will your pride not allow that?Flumper wrote: ↑Tue May 12, 2020 1:43 amthis topic is way out of your wheel house. keep thinking that there is some magic store where big companies buy and sell oil. or some street corner they all stand on with barrels in the back of their trucks for sale.WestTexasCrude wrote: ↑Tue May 12, 2020 1:39 am Yeah, I get it. It not just the price of oil posted at the end of the day to track. But, you are way overestimating the futures market. It's just way stimulated right now with the virus BS. Normal decades on end, prices month to month are steady as shit depending on the circumstances
- Animal
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Re: Oil ↓
i guess you also think the butcher down at the Piggly Wiggly sets the price on bacon, too.WestTexasCrude wrote: ↑Tue May 12, 2020 1:56 amRetards have to chime in on subjects they have no clue about.
oh wait, its just hundreds of years of supply and demand that do that. farm, raise, feed, butcher, ship.
LMFAO
Re: Oil ↓
Whatever, this is done. I'm talking the Supply/ demand world supply that the entire World depends on and your talking some Wall Street BS Long/ short manipulation that nobody cares about in a crisis. Hope some economic classes open soon at your local JC. I'll pay.Flumper wrote: ↑Tue May 12, 2020 1:52 ami'm laughing at how stupid you are about this.WestTexasCrude wrote: ↑Tue May 12, 2020 1:50 amOr maybe Ease up and learn the truth. Or will your pride not allow that?Flumper wrote: ↑Tue May 12, 2020 1:43 amthis topic is way out of your wheel house. keep thinking that there is some magic store where big companies buy and sell oil. or some street corner they all stand on with barrels in the back of their trucks for sale.WestTexasCrude wrote: ↑Tue May 12, 2020 1:39 am Yeah, I get it. It not just the price of oil posted at the end of the day to track. But, you are way overestimating the futures market. It's just way stimulated right now with the virus BS. Normal decades on end, prices month to month are steady as shit depending on the circumstances
- Animal
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Re: Oil ↓
actually you don't know WHAT you are talking about and you know it. you have found yourself in a conversation that you always thought you understood, but in fact you have no clue.WestTexasCrude wrote: ↑Tue May 12, 2020 2:04 am Whatever, this is done. I'm talking the Supply/ demand world supply that the entire World depends on and your talking some Wall Street BS Long/ short manipulation that nobody cares about in a crisis. Hope some economic classes open soon at your local JC. I'll pay.
Re: Oil ↓
Actually I know exactly what I'm talking about and I think Mr. Rancher with his economic 101 rural economic experience has no clue how this industry actually works. But thanks for trying.Flumper wrote: ↑Tue May 12, 2020 2:11 amactually you don't know WHAT you are talking about and you know it. you have found yourself in a conversation that you always thought you understood, but in fact you have no clue.WestTexasCrude wrote: ↑Tue May 12, 2020 2:04 am Whatever, this is done. I'm talking the Supply/ demand world supply that the entire World depends on and your talking some Wall Street BS Long/ short manipulation that nobody cares about in a crisis. Hope some economic classes open soon at your local JC. I'll pay.
- Animal
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Re: Oil ↓
stay blissful, dummy.WestTexasCrude wrote: ↑Tue May 12, 2020 2:24 amActually I know exactly what I'm talking about and I think Mr. Rancher with his economic 101 rural economic experience has no clue how this industry actually works. But thanks for trying.Flumper wrote: ↑Tue May 12, 2020 2:11 amactually you don't know WHAT you are talking about and you know it. you have found yourself in a conversation that you always thought you understood, but in fact you have no clue.WestTexasCrude wrote: ↑Tue May 12, 2020 2:04 am Whatever, this is done. I'm talking the Supply/ demand world supply that the entire World depends on and your talking some Wall Street BS Long/ short manipulation that nobody cares about in a crisis. Hope some economic classes open soon at your local JC. I'll pay.
- FreakShowFanatic
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Re: Oil ↓
Unlike most products, oil prices are not determined entirely by supply, demand and market sentiment toward the physical product. Rather, supply, demand and sentiment toward oil futures contracts, which are traded heavily by speculators, play a dominant role in price determination. Cyclical trends in the commodities market may also play a role.