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rnr42005

Classic Camper
Posts:105

Registered Users
melbourne, fl.

01/05/2008 4:35 AM
let me pose a question or two along with some insite. oil is a commodity, right? it is traded in "futures" meaning what someone is bidding/buying today is still in the ground and won't be delivered to refineries for several weeks/months. on a global scalel, oil is the largest voume commodity we have. anyone care to guess the second largest global commodity? would you believe coffee? yes, that's right, coffee!!!!! i am in the coffee production/supply line of work. what is referred to as "green coffee" means that it is still in the fields and this is what is traded on the commodities market. over the past several months, green coffee has been driven from a typical $1.05-1.10/lb to the middle of december it reached $1.40/lb!!!! it was driven there by commodity profit seekers, just like all of the other commodities. the sad news is the price "stuck" when the profit takers sold their commitments to buy. now for the really sad news....these "futures" they sold will not even be harvested for shipment from the orignating countries until late march early april! if the other commodities were to move their prices daily based on "futures", the consuming public would be outraged! movements up/down are just a part of doing business. so here is the question, the other commodities are not regulated either, so why does oil change their pump prices at a whem? i grew up close to a refinery and during the early 70's oil crisis they all but shut production down and had all of the bulk storage units full, over 50 miles of both banks of the river 4 barges wide storing crude and literally thousands of railcars as storage as well! i guess it's the same thing over again, BIG MONEY TALKS and the rest of us are just along for the ride!

1986 Fleetwood Pace Arrow Me, Wife, Daughter and two dogs EVERYTHING IN MODERATION...INCLUDING MODERATION

Balrgn

Moderator

Expert
Posts:805

Registered Users
Southern NH

01/12/2008 7:55 AM
That is some realy interesting food for thought. I wonder HOW the oil companies get away with it.... $$$

1977 Argosy 20 454 V8 Gas Southern NH Maintenance Analyst www.balrgn.com

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