I actually heard this one the AP radio news this morning.

[MindPilot]

"...and gas is averaging $3.88 with several states over the $4.00 mark. Oil is trading down this morning on fears that Americans may drive less." :wtf: (we really need a "No Fucking Shit Sherlock" similie for this one)

[Shagbark Hickory]

1. I always get a kick out of the reasons stocks trade up or down.

They're spur of the moment bullshit.

[MindPilot]

7. I know...it's bothersome on several levels

Are the people who wield enough money that they can affect the prices of things really that short-sighted? I'm a trader and I'm going to speculate that oil will keep increasing because it is an ever more scare commodity, and...HOLY SHIT! THE PRICE OF GAS IS GOING UP AND PEOPLE MAY BUY LESS OF IT!!11!

Or that some analyst believes that we actually believe that said analyst knows the collective "mind" of the traders?

[unblock]

14. the media feels compelled to offer an explanation, and they can always find someone to give them one

[Shagbark Hickory]

16. Yes and they are silly reasons.

Stocks closed down on monday because of fears gas prices would cause an economic slow down.
Stocks closed up on tuesday because of an optimistic outlook on the economic recovery.

Wait! What happened to monday and the fears of the slow down?

Examples like that.

[roguevalley]

17. its 4.38 here

[kentuck]

2. Why should it matter to the oil companies??

If they sell gas for $4 per gallon instead of $3 dollars a gallon, they only have to sell 3/4ths as much to make the same profit. I don't understand that logic? If people keep driving less, they only have to keep raising the price to keep profits the same.

[Taverner]

3. Gas is $4+ here

And its $4.50 in the city

[kentuck]

4. Here's my solution:

Tax everything above $3 per gallon at 100%. That would give them no incentive to raise prices and it would bring in much-needed revenue to the Treasury. It would also put a damper on the Wall St traders that bid up the prices to fatten their own pockets.

[Peregrine Took]

5. I heard that while prices are going up, gas sales are going down.

Finally people are waking up???

[MindPilot]

9. People probably are.

However, "the market" seems to notice not the least bit of iorny. Or certainly not in the reporting thereof.

[DefenseLawyer]

13. If you mean buying fewer gallons, I don't think waking up has anything to do with it.

Other than waking up to find that you only have 20 bucks, so you buy 20 bucks worth. Math isn't my strong suit, but i think the higher the price, the fewer gallons people on a fixed budget are going to buy.

[Drale]

6. I've already started driving less

I drive to and from school and either I don't go out after that or I walk or ride my bike.

[JohnnyRingo]

8. This bubble too will burst

The Wall Street propaganda that has been spread for the last two weeks that oil prices will continue to rise throughout the summer is jut that, propaganda.

In a textbook pump & dump scheme, the investors on the ground floor have artificially inflated the outlook of oil futures to draw in more money from mutual funds, pensions, and anyone with a PC and bank account. As they jumped in with both feet on this sure bet, supply & demand drove the price ever higher. When the time is right, the bubble planners will flood the market with their dumped shares and open the trap door to falling prices as unwitting investors run for the door.

Those still holding the oily bag will take a severe beating (again), and the Dow will lose value as the Wall Street pirates extract the money and run. Regulating the oil futures market is more important than other trades since our currency is now based on the Petrodollar. This scheme has real consequences to our overall economy and the foreign value of the dollar.

[MindPilot]

12. That should be an OP

Excellent summation.

[calimary]

10. Ahhh... AP Radio News...

What memories!

And yeah, no fucking shit, sherlock!

[demwing]

11. Walk more, spend less, live longer

I started applying that philosophy to my life a few months ago. No more drives to the store a block away, or to the library a mile away. I've lost 15 pounds, and used less than a 14 gallan tank of gas in the last month.

Yesterday, my 16 year old son and I walked 8 miles to the beach, and 8 miles back. It took us hours, but we haven't spoken to each other so much in months. Great day :)

[reggie the dog]

15. that is awesome

8 miles i do if you cant get a bicycle down the trail, i like the bike because you can go farther in the same amount of time, but like you said, you are losing weight just by walking, sport is sport, hats off to ya.