FloydFreak's Blog

I agree that it wont bring down prices right away. We'll have to eat these high prices until they get the crude flowing. When they do, there's enough annual supply in the gulf to supply the whole country with a surplus! Then the only problem will be getting that oil to market at lower than the global average price.

Note for the tree huggers... The oil rigs already in the gulf took a pounding by hurricane Katrina and very little to no oil was lost as a result. Dont worry, your flip flops wont get soiled! *lol*

Yellowdog.....Are you missing some screws in your mental erector set? There are two sides to supply and demand! Demand can come from more than just demand from the product now but also demand for oil yet pumped! That why they call it "oil futures"! Demand for futures is part of the equation! It's like when people speculate on what corn will sell for in 6 months and the price of Fritos goes up now! It's still demand for corn! Or in this example corn in the future! Now just replace the word corn with the word oil and it should make sense to you. Oh...and the word Fritos with the word gas!*lol*

By the way, as I already said in this blog, hurricane Katrina cause VERY LITTLE oil to be spilled. Remember, they can shut those wells off at the sea floor in the event of a storm.

Futures trading has nothing to do with supply and demand (in the classic sense), they are about SPECULATION of market supply and demand.

Traders lose on some guesses and make $$$ on others.

The consumer determines the demand and the producer (or other circumstances) the supply.

NOT futures traders.

I use a Lego brain building system and sometimes my blocks do fit together just right.

Psychology is an excellent way in helping to ease the situation. You have a good point, if the Government stated "we are going to start drilling off the coast of Ft. Lauderdale and in Alaska," even though it probably wouldn't affect anything right away, or even at all, it would make people feel better as they pump more gas. I guess one could consider it as reverse psychology. How often does the Government state they are going to implement something to make the situation better, get people all worked up to feel better about spending money, then when it doesn't happen, it takes us a couple of years to catch on, get angry for a while then move on. The Government has been proficient in this process of psychology for many years, I wonder why we haven't caught on yet or better yet, learned from it. FloydFreak, I like the way you think!

Thanks for your concern as to my whereabouts, YD. Alas, after three years of spending my work weeks (or the better part so them) in Pinellas, I have started my new job. The good news is that I get to return to the "Freak Compound" every evening. The bad news is that I now work in Ocala which is an hour's drive (company car and gas). Alas, I have very little spare time to spend online and I cannot blog at work as I once could.

I am going to make no remarks regarding your Erector set, but I must agree with my friend, the stallion. The media have planted this image that the "speculators" are as evil as Karl Rove, if not more so. If you want to see the flip side of speculation, you need look no further than Southwest Airlines.

As I noted in my original post, speculation is gambling - nothing more, nothing less. These traders are playing the odds that tomorrow's price is going to be higher than today's. And thus far, they have been correct. Agreed, it is not strictly supply and demand that is driving the run-up in prices. But it is EXACTLY the same thing that occurred in the real estate market. People were SPECULATING that a concrete block home built in Largo in 1958 would be worth $300K. And guess what? The price of a 1958 block home in Largo went to $300K. Is such a home worth $300K? Not in MY book. But if you wanted a 1958 block home in Largo (two years ago), you had to ante up $300K. Is gas WORTH four dollars. Of course not. but if you WANT it, you need to pay that for it.

I believe that the bubble will eventually burst which will be good for consumers but bad for t

And technut...

Exactly WHERE are you going to get the energy to generate the compressed air? Are you going to blow said compressed air out of your @ss? I think not. You're going to need ELECTRICITY to run said compressor. And where is said electricity going to come from? A small percentage of it will come from the might atom but the great majority of it will come from fossil fuels.

Get off of your high horse and get real. I agree, they're ugly as heck, But as mmustangg noted, you're never going to be able to SEE these rigs at all. And don't feed us the leftie crap line about spills. Otherwise, quit your bellyaching and get ready for TEN dollar gas.

Yes, we need to get off of oil - no argument. but it is going to take years. Until then, we need every drop of our OWN product that we can get our hands on!

Don't forget there is plenty of coal to fuel electricity ..and it is time we told Gore to go suck on a sock monkey. Kansas governor just turned down the plans to build a refinery in W. Kansas....no one lives in W. Kansas. Get the nuclear plants built for power to the people as well. Many people used to heat with coal. If they can send a space explorer to Mars we can build furnaces to run on coal and run clean. And guess what all of those resources would put people to work for a long time.

Hey Robin, welcome to the "cesspool" of Tampa.

Folks, Robin is one of the regulars and right thinking players in Mickey Land.

Always with a good point and a good argument (to the chagrin of the far RIGHT RWNJ's, over there).

WELCOME to Tampa Land.

I cringe every time I go to the pump. I hate the rising costs of goods and services due to rising oil costs and the weak dollar. I hate that my salary just doesn't seem to keep up. But I thank god every day because I live in the prettiest state in the country.

I go sailing every week and I spend half of every summer at the beach. I take long weekend trips to the Florida Keys. And it is only a short drive for me to see water so clear it takes my breath away. I am fortunate to have my lifestyle and it is only possible because I live in Florida.

Oil drilling off the coast of Florida threatens to destroy all the things I love about this state. If you don't think it's possible, visit the beaches in Texas and Louisiana. They are nothing short of disgusting.

Offshore drilling in the Gulf has consequences. The process of drilling and transporting oil from oil platforms has a damaging affect on the surrounding environment. And it only takes one major accident on an oil platform off the coast of Florida to completely destroy the entire coastline. Chevron has experienced 40 documented major accidents on Gulf oil platforms alone.

I sincerely hope that offshore oil drilling never becomes a reality for Florida. I would like for the next generation to be able to enjoy all of the great things about Florida that so many of us seem to take for granted. Drilling off the coast of Florida would only be trading a long-term problem for a short-term solution.

That is VERY funny YD!!

"Folks, Robin is one of the regulars and right thinking players in Mickey Land."

That is so funny dog! You are SO easily fooled!

Robin is also posting under the name CrazyNLuvit! She has a post on the front page of weather, and deleted my comment that pointed out her discusting deception of you easily fooled morons!

Glad you love her so much! Can you please keep her here in Tampa? We do not want her back in "Mickey Land"!!!