Thread: The Greenback

Originally Posted by Spin

Nobody should be too surprised at the high price of oil these days but has every right not to be happy about it.

(my bolding - sorry)

On the basis of supply and demand setting prices, I have never really understood this comment.

They have more oil reserves now than at any time since, I think, the 1960s. While I would agree the cost of getting to most of this is more than it was in the 1960s, it is nowhere near expensive enough to warrant a $90 a barrel price tag.

IMO, a more accurate price for oil would be in the $30-50 a barrel range.

^ there is no oil shortage, the elasticity is only coming from the "pump", that's how they control the supply and hence the price,

Remember the California energy crisis in 99 ? same shit, different "commodity"

Originally Posted by Butterfly

^ there is no oil shortage, the elasticity is only coming from the "pump", that's how they control the supply and hence the price,

Remember the California energy crisis in 99 ? same shit, different "commodity"

Shortage is refinery capacity.

^ not even that, it's happening also before it gets there.

Originally Posted by david44

conspiracy is the masturbation of the insecure

More pearls of wisdom ^.


For me the lower the baht goes against the dollar the better. I live here. But I save in dollars. If the shit really hit the fan here and my family had to get the fuck out I sure as hell would rather have dollars than baht.
Walk in to Wells Fargo in the states and see what kind of exchange rate you would get on ten million baht. Not freaking much. It world be almost like taking in Dong these days.

Petrol was down a bit today so I topped up.