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Gas Futures
Here’s another one of the Great Mysteries of Economics (no wonder they call it the “Dismal Science”) that I’ll never be able to get my mind around. Maybe some Ph.D. can explain it to me: How is it that the price of gasoline in the underground tank, the stuff that’s ALREADY BEEN BOUGHT, is instantly affected by storm- or terrorism-induced fluctuations in the futures market? I thought “Future” meant the prices hadn’t arrived yet.
Conversely, why is it that it takes weeks after the supply situation has returned to normal for the prices to “work their way down through the pipeline” to our local gas pump?
I guess if you’re the type of person who can understand this principle, you are the type who gets invited on quail “hunts” with Dick Cheney. Be sure to wear face protection.
CHAN LOWE
Comments
I know you know the answer to this, but I'm going to vent anyway. It's the corporate double standard. The little people get the shaft ALL the time.
3 days before we knew which turn Ike was going to take, I went to put some gas in my car and there was nothing but premium available. 16 tanks. Why wasn't the lower priced regular the only gas available? This was before the slight urge to fill tanks because of the 'possible' storm.
Now we have the bailout. The banks need us (the taxpayers). What happens when I needed the banks? It happened with the airlines after 9/11. They couldn't fly, they needed funding. They got it, from the taxpayers. Now they nickel and dime you for everything.
Tell me, where's the gratitude?
Posted by: Alan Fundt | September 23, 2008 8:48 AM
Antonino Thank you for an objective focus on Chan's stated bias towards McCain/Palin. Perhaps Chan could pen a caricature of Obama "walking on water" asking the fishermen "Is this what a real job is about?" But that might offensd his leftist buddies.
Posted by: Jon Dobre | September 29, 2008 10:45 AM