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Re: Re: Re: High cost of fuel...Reason?
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Posted by Ron on June 07, 2004 at 17:15:37 from (69.179.2.158):
In Reply to: Re: Re: High cost of fuel...Reason? posted by Paul in Mich on June 07, 2004 at 15:02:10:
You may have missed economics 100. Pizza is what economists categorize as “discretionary spending”. Oil, on the other hand, is a commodity. Futures (commitments to buy and sell in the future) are traded based on expected future supply and demand. It’s really just that simple. Actual pump prices are determined by the particular nation’s gas policy. See http://money.cnn.com/pf/features/lists/global_gasprices/price.html and when gas hits $5.00/gallon here, don’t be surprised. I sure won’t!
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