Retail gasoline prices likely to top Y180 per liter

Saturday 28th June, 07:58 AM JST

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Maruku at 06:30 PM JST - 28th June

No Knuckle ... slow down tiger. The US is capping its reserves for a rainy day (a rainier day) when 140 looks like 25. The fact that the Reps are populists (tax breaks etc.) needs to be weighed against the fact the Dems are less so, but that doesn't mean they are less shrewd!

The Dems are capping that oil for tomorrow, even though McCain wants to be elected today. That's how it is. That's governance.

Bush was a Tiger 10 years ago? Was that before or after he gave up coke? Or just before he handed over to Cheyney?

My point is America's gas policy is bigger than one Prez. And, high gas means more alternative energy. And if the Dem's actions bring about decreased reliance on oil, then I'm thinking this a good thing *because you still want want to be in(with) power when the oil runs out! *. Do you get the plan Knuckle? See the big picture?
Youdontknow at 07:37 PM JST - 28th June

It's been ￥180 in some places in Yamaguchi for bloody weeks!!

rajakumar:

The future is bright, for next 10-20 decades. We are just begining stages of globalisation, virtual openess,open skies and free trade. First time for billions to have ability to improve.

I suggest before you write about business, you actually learn something about it first!! The world has been in the grip of globalisation since the mid 1980's and beyond! Just beginning? OMG...you gave me a laugh if nothing else!
Sarge at 11:05 PM JST - 28th June

I can't help fantasizing about every gas station being completely deserted except for the staff who wait all day and night for non-existent customers who simply refuse to pay the current price. Just shut down all businesses until the oil companies lower the price. But then that would mean going to the conbini to find it closed - oh, noooooooo!
knucklerap at 06:01 AM JST - 29th June

My point is America's gas policy is bigger than one Prez.

One of my points is that the president doesn't control the price of gas. The fed's creation of fiat money has devalued the dollar and created inflation.

And, high gas means more alternative energy.

No argument there. I find this desirable because I value clean air more than cheap gas.

And if the Dem's actions bring about decreased reliance on oil, then I'm thinking this a good thing *because you still want want to be in(with) power when the oil runs out! *. Do you get the plan Knuckle? See the big picture?

"The oil" will never run out. Access may become exceedingly difficult, creating an unfavorable cost-benefit ratio, but oil will never, ever run out.

You can be sure the Democratic party will take credit for decreased reliance on oil or imported oil, but this won't make it true.
knucklerap at 06:31 AM JST - 29th June

Here's a quote from some coffee shop in Oxford (poster: WMD - oooh):

But our so called leaders refuse to even consider the possibility of speculators forcing the price up (and do something about it ) because they too want a finger in the pie after they retire/are forced out of the political world. This is all going to end in major tears.

I hope I'm making myself clear when I say government is the problem, not the answer.

The United States, for sure, is gonna be just fine.

We possess abundant supplies of coal.

Proven technology for converting coal into fuel exists.

Market conditions (high gas prices) make conversion practical and profitable.

If gas prices remain above $55 per barrel, and they will as long as the government does not interfere with market forces, America will enjoy fuel self-sufficiency as far as they eye can see.

Free tissue at the station WMD.
browny1 at 09:50 AM JST - 29th June

Speculative practices ARE the dominant factor at the moment in the price surge. It's not a hidden conspiracy it is openly there to be viewed by all as a sign the machinations of free market are running true to text.

The immediate larger problem of such artificially inflated prices, is not whether the SUV lovers are getting their own, or alternatives are getting a look in - esp in the fat societies - but the enormous burdens it is placing on the poorer billions of the world. It is devestating their livelihoods as agriculture & transportation costs rise. Smug "I told you so" types sitting pretty in Rich-Land don't have much to lose at all.
knucklerap at 11:10 AM JST - 29th June

From browny1:

Speculative practices ARE the dominant factor at the moment in the price surge

Are you saying that speculators are buying or selling?

Oil production over the past two years has not budged! Consumers are demanding 87 billion barrels a day and only 85 billion barrels are being produced. These are the market fundamentals. It's only natural that investors would test the market to see how high they can push the market, however, crude oil stocks are EXACTLY where they have been historically. No evidence of a bubble.

Bloomburg has some story of 10 ships storing oil off Iran. This out of 5,000 tankers; hardly large enough to affect demand. No evidence that speculators are responsible for this.

What is happening is rising demand in emerging markets and a plateauing of oil production couple with a declining dollar. If you priced oil in gold, it hasn't changed at all.

Politicians and OPEC are looking for scapegoats. Why help OPEC use the term "speculation" as a form of magician's misdirection to obscure the fact that they are unwilling or unable to balance the market at lower prices?

Maruku, if you think the blithering idiot Obama! is more articulate than Bush, check out a the Youtube.com video from June 8, 2008, where he talks about health care (without the teleprompter). He actually speaks about kids with asthma getting hooked up to a breathalyzer. HA! Then, check out Bush in the 1994 Texas governor race speaking without notes. He was more dynamic at roughly the same age. I didn't vote for the man. Just sorting out the truth.
browny1 at 02:11 PM JST - 29th June

Knucklerap

Blind Freddy would agree that demand has increased, therefore prices will rise.

The basis of my line is that oil is inextricably linked to the ability of a people to lighten their lot. Some liken the natural markets movements in oil to any other commodity - eg gold. However Gold has no intrinsic value 'cept for some hi-tech fledges, false teeth and trinkets. Oil needs to be treated as a "case on it's own" because by it's very nature, it impacts on all peoples of the world. The same can be said of staple food stocks. A shortage of rice (ie millions are hungry) left to market devices drives up the price further resulting in billions hungry. Any sniff of intervention and the hyenas cry "Commie foul". What a sad state of affairs.
knucklerap at 07:00 AM JST - 30th June

Blind Freddy would agree that demand has increased, therefore prices will rise...Any sniff of intervention and the hyenas cry "Commie foul".

Well, demand has indeed risen, but what has happened to supply? Dragging miserably and not meeting demand. Why? Could it be the countries (Latin American despots and the like) that have nationalized oil are not to good at actually getting the oil to market?

Gold has little industrial use, but it is money and an excellent hedge against the astounding inflation that we are now experiencing. If you bought in the late 90s, congratulations, but it is still not too late as the price has not risen as fast as other commodities. When it hits $1200 at the end of the year, $927 (today's price) will seem cheap.

You might be interested in hearing Marc Faber on CNBC, 27 June: Let Big Brokers Fail; Buy Gold Not Oil -- around the 4:24 point he calls the FED the greatest speculators for creating real negative interest rates and forcing honest savers into risky ventures.

Why are those who believe in free markets "hyenas"?
rajakumar at 07:21 AM JST - 30th June

Youdontknow- Please do post more, glad to see your postings increasing on JT.
rajakumar at 07:27 AM JST - 30th June

Youdontknow- Criticise/debate more on the contents of posts, not on JT people, who post. I have been posting here since 2003. You mean all my posting from 2003, is not any contributions, to JT discussions.The idea on JT is to get more people to post, not to allow or disallow posts, that is up to moderators.
browny1 at 09:05 AM JST - 30th June

knucklerap - Thanks for the comments. I'll try and check out the lead. I am not anti-free market. I own shares and have investments- not exactly earth tilting ones - and understand fully the necessity of such in our competitive world.

My slant is solely on the destructive nature of the intense pursuit of some commodity stocks to the poor billions who have no say in such matters. One may argue that that simply is the way of the world and get used to it. I'm not missing out on my piece of the pie. Oil & Food price hikes / shortages impact exponentially in developing countries in comparison to us lucky ones. You mention gold as a good hedge but if you truly wanted to make outstanding returns invest in the agri-business. As the prices grow over the next decade you will be awash and someone will say, "Ah good old Nick, he's done well".

But done well at whose expense? We're talking full bellies here, not handsome portfolios. So my flippant remark re hyenas is aimed at the players(?) who seek to make massive quick profits while returning zilch and making life - literally - unbearable for the many.

Actually hyenas clean up their messes pretty well. (flippant)
ToughGuyBanker at 04:18 PM JST - 1st July

We're stil pushing these prices up baby, full leveraged. Mad, mad profits. Looking at $197 per barrel as the big sell. We're pulling the rug out soon enough.
Youdontknow at 12:46 AM JST - 2nd July

Gasoline is now ￥190 for high octane, ￥180+ yen for Leaded....and guess what...it ain't going to get any cheaper anytime soon!
roomtemperature at 11:37 PM JST - 2nd July

"Gasoline is now ￥190 for high octane, ￥180+ yen for Leaded....and guess what...it ain't going to get any cheaper anytime soon!"

So?