MERGED: All About OIL PRICE HIKE

[masakiton]

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@antitanic: if that were the case, then how come other countries all over the world are also seeing high fuel prices?

@masakiton: really? so it's the current administration's fault that oil is past $100/barrel? the current administration must be some kind of command-economy all on its own - and capable of time travel too considering that the price of fuel started rising way before the current administration got formed.

joking aside, we really should look further outward to find the source and solutions to our problems

@oyong: preha jud ta bai. nangutang nalang gud ko ug motor para makatipid-tipid. pero sakit gihapon ui! sa una, 100 full tank na ko. karon, dili na. wapa pa jud ko kahuman bayad sa utang!

1 US beer barrel = 117.347765 liters
100 US/117.347765liters = 0..852USD/liter
1USD = 44pesos

37.495pesos/liter

[pepponeskie]

it was ramos who took the Oil Deregulation Law sa una, then hinay2x na ug saka ang gasolina, hantod sa panahon ni arroyo ug karon ni aquino. wala ra mn ng inusara ang pilipinas aning porblemaha. it's a monopoly.

Maski sa Singapore parehas2x ra ta ug presyo sa ilaha, ang deperencya lang, dagku lang ug income ang mga tawo didto. Pero kung adto ka sa Malaysia ang presyo sa gasolina barato sila tungod kay naa silay kaugalingun nga oil.

[aulim]

In a year 2000 study, Executive Intelligence Review (EIR) showed that for every 570 "paper barrels of oil"-that is futures contracts covering 570 barrels-traded each year, there was only one underlying physical barrel of oil. The 570 paper oil contracts pull the price of the underlying barrel of oil, manipulating the oil price. If the speculators bet long-that the price will rise-the mountain of bets pulls up the underlying price (Valdes 2005).

This only disproves the popular assumption that oil price hike has something to do with the "law of supply and demand." In fact, as much as 60% of today's crude oil price is pure speculation driven by large trader banks and hedge funds. It has nothing to do with the convenient myths of Peak Oil. It has to do with control of oil and its price (Engdahl 200.

In its recent statement, IBON Foundation cited a study conducted by the U.S. Senate Permanent Subcommittee on Investigations, which revealed that 30 percent or more of the prevailing crude oil cost is driven only by speculation. IBON further cited that speculation adds about $35 to a barrel of crude oil (Martinez 200.



Article Source: Philippine Oil Deregulation - A Policy Research Analysis

[reptoid]

The big producers (OPEC) carefully control supply in order to maintain high prices for their product. Market speculation over ability to supply due to external factors (war, political instability etc) also cause prices to fluctuate.

Governments will often increase VAT on fuel as a way of increasing tax revenue. These tax increases are rarely reversed and significantly affect inflation.

[binarypill]

1 US beer barrel = 117.347765 liters
100 US/117.347765liters = 0..852USD/liter
1USD = 44pesos

37.495pesos/liter

factor in distribution costs.

[binarypill]

@pepponeskie: i think a lot of countries went for oil deregulation. the ones who are not as affected right now are those who produce their own oil.

@aulim: that's what i've read as well. i was skeptical about it but their arguments have merits. considering the recent financial crisis that the US went through (which had a global effect) and what caused it, this does not seem far from the truth at all.

@reptoid: yep, the problem definitely has multiple sides to consider. thanks for pointing out the effects of government taxation without going "it's all the current administration's fault! abnoy is behind it all! herp derp derp!!!" about it. there seems to be a lot of those kinds of people here in the forum.

[jorjie]

Were being played by the business men around the world

[binarypill]

i think one particular side we need to see - and basically the only side we have any control over - is the demand/consumer side.

[leo_trams]

Were being played by the business men around the world

hehehe...

how about turning this around?
ato silang duwaan sab....like, in our country...let's only patronize one fuel brand...PETRON perhaps? or SHELL or CHEVRON? if for one month one or two of them have no fuel sales, unsa kahay mahitabo nila or sa ilang fuel prices?...law of supply and demand?


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[leo_trams]

if only kita tanan mag kasinabot pud nga dili na mosakay ug mga sakyanan nga tig gamitan ug krudo o gasolina...mag bike na lang ta tanan...

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