mike84 Posted May 6, 2011 Share Posted May 6, 2011 I can fully see the advantages in it for you, but shall have to decline the educating pork offer. so throwing insults around helps get your point of view across does it? i'm sure that it helps your ego, it appears obvious that you dont have the ability or capacity to get your point of view across any other way. Link to comment Share on other sites More sharing options...
Mangoes Posted May 6, 2011 Share Posted May 6, 2011 so throwing insults around helps get your point of view across does it? i'm sure that it helps your ego, it appears obvious that you dont have the ability or capacity to get your point of view across any other way. Now you are just being impertinent. It is not magnanimous to exceed the limits of propriety and good manners. Link to comment Share on other sites More sharing options...
Cyclone Posted May 6, 2011 Share Posted May 6, 2011 So is a tin of beans... and petrol is a much more expensive product to produce too! How about you compare the rate of inflation on a tin of beans compared to petrol since 1970? Tell us about how expensive that tin of beans is in comparison. Link to comment Share on other sites More sharing options...
Cyclone Posted May 6, 2011 Share Posted May 6, 2011 Now you are just being impertinent. It is not magnanimous to exceed the limits of propriety and good manners. Now you sound like a ponce. You made a statement, if you want to debate the issue you need to back up your statement with reasoning. Why is trading in oil immoral? Link to comment Share on other sites More sharing options...
Harleyman Posted May 7, 2011 Share Posted May 7, 2011 So we are paying more for 2 litres than Americans are paying for a gallon. It stinks. That's because the government tax is higher in UK. Doesn't some of that tax go to funding the NHS? Link to comment Share on other sites More sharing options...
NorthernStar Posted May 7, 2011 Share Posted May 7, 2011 Now you sound like a ponce. You made a statement, if you want to debate the issue you need to back up your statement with reasoning. Why is trading in oil immoral? If I may interject, I think that mangoes is trying to point out that an individual being able to corrupt the natural market forces to control the price of oil is clearly wrong in much the same way as we might prevent monopolies and organised price fixing. This is clearly a form of corruption and serves no other purpose but to rip off the consumer. Link to comment Share on other sites More sharing options...
Rupert_Baehr Posted May 7, 2011 Share Posted May 7, 2011 The cheapest in my area is currently at about 2 pounds 54 per gallon based on the current exchange rate dollar - pound. The price is always higher in California than the rest of the country because petrol has to be specially refined to meet State air quality standards. ... 'Fraid not. Individual States have their own taxes and individual towns have their own prices. Gasoline is cheap in Texas and Georgia - but expensive in California, Florida and a few other States. This link shows historical prices for petrol in the US and (duty free) fuel in the UK and Europe. (Go to the graph, click on 'UK' and 'US Average' and select 'Super' as the grade to give a petrol comparison. - Or just compare the prices for 'Super' in the boxes above the graph.) Most European countries are selling 'Super E10' which contains 10% Ethanol and is very similar to the fuel sold in California [though gasoline sold in the US is a different distillate to that sold in the UK.] Super E10 is cheaper than Super without Ethanol (about 20 cents per US gallon cheaper.) The tax-free price for fuel in the UK and in Europe is higher than the average price in the US. In the UK, the tax-free price for Super is $4.22 per US gallon; in the US the average price is $3.99. A part of the reason for that difference is that many buyers in the US purchased options to buy fuel at a given price. - If the price on the day they wish to buy fuel is lower than the option price thy lose the money they paid to get the chance to buy at the agreed price; if it's higher, they pay the agreed price. This year the market prices are higher than the agreed prices, so those companies (including a number of airlines) which bought an option to buy at a fixed price are getting their fuel cheaper than those who buy on the 'spot' market. Options are a risk you take - or choose not to take. Most buyers in the UK have elected not to pay the premium to buy fuel at an 'option' price - and seasonal or other price increases are passed on to the consumer. 'Downtown' prices in Germany for Super (not Super Plus, the higher octane grade) 1.67 Euros (£1.46) per litre. (The highest grade costs about £1.53 a litre.) Petrol in the UK is considerably cheaper than it is in Germany - and elsewhere on the continent. Californian fuel may contain additives (notable MTBE and Ethanol) all year round, but a number of other States mandate the same types of fuel in times when smog is more likely. Some States have higher prices (because they get a significant amount of income from tourists and tourists burn a lot of fuel.) I lived 5 miles from where fuel was pumped ashore on the Mississippi. After the fuel had travelled a further 30 miles, the price fell by an average of 30 cents a gallon ... the petrol retailers in the place in which I lived had a monopoly and they kept the prices high. american gallon and UK gallon are different, if i rem rightly, the usa gallon is about .88 of our gallon, tho still damm cheaper than here in UK!! An imperial gallon is 8*20 = 160 Fl Oz. A US gallon is 8*16 = 128 Fl Oz. 1 imperial gallon = 1.25 US gallons 1 US gallon = 3.79 litres Your understanding is far too limited for me to even begin to explain that to you. Your understanding of futures and options trading doesn't seem to be particularly extensive, so don't bother. That's because the government tax is higher in UK. Doesn't some of that tax go to funding the NHS? Most European countries charge higher taxes on road fuels than does the US. The downside of that (for Europeans) is that they pay more for fuel all the time, but the (albeit limited) advantage is that a fluctuation in the price of a barrel of oil produces a comparatively smaller fluctuation in the pump price. When oil prices rose in 2007/08, the effect on pump prices in the US was far greater than it was in the UK. As a result, many small firms (which were faced with a larger percentage rise on costs) went to the wall. The price of fuel for the motorist is only a part of the equation. Ferries don't pay tax on their fuel and much of the freight which enters the UK does so by ferry. Last year (and for the past few years) you could get 'deals' for 'A car + 4 passengers' for £25 each way between Dover and Calais. - There are such deals available - but only if you travel in the small hours of the morning. Last year the typical fare for a motorcycle + rider between Dover and Calais/Dunkerque was £25 (throughout the summer.) At the moment (and it's not peak season yet) you'll be doing well to get it for £37.50. The round trip fare for a car + 2 between The Hook and Harwich was £220 last year. It's £340 this year. Most fares seem to have risen by more than 50%. If lorries are also paying 50% more, you can expect freight charges to increase accordingly. Link to comment Share on other sites More sharing options...
Mangoes Posted May 7, 2011 Share Posted May 7, 2011 If I may interject, I think that mangoes is trying to point out that an individual being able to corrupt the natural market forces to control the price of oil is clearly wrong in much the same way as we might prevent monopolies and organised price fixing. This is clearly a form of corruption and serves no other purpose but to rip off the consumer. I am relieved to see that one person understands. It appears that Cyclone and the others are not intelligent enough to comprehend what is actually quite a simple notion. It is clearly corrupt. He will probably make some weak retort now stating that what you said and what I said were different. Of course they are not otherwise you could not have interpreted it in this manner. Link to comment Share on other sites More sharing options...
daftlad Posted May 7, 2011 Share Posted May 7, 2011 Excellent business man if you ask me. I wish I had the credit facility to do the same. Then I could live in the bahahmas. no just a greedy man like all tories, look after number 1 Link to comment Share on other sites More sharing options...
Cyclone Posted May 7, 2011 Share Posted May 7, 2011 If I may interject, I think that mangoes is trying to point out that an individual being able to corrupt the natural market forces to control the price of oil is clearly wrong in much the same way as we might prevent monopolies and organised price fixing. This is clearly a form of corruption and serves no other purpose but to rip off the consumer. That's a statement I could agree with. But it's not the statement he made... In my opinion to buy and sell oil that you never want is immoral He said that if you go and buy some oil futures now, you're immoral. You (I expect) aren't capable of cornering the oil market or manipulating it to your advantage, so why would trading in a commodity be immoral? That's what he won't, or more likely, can't, explain. Link to comment Share on other sites More sharing options...
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