Posted by JMS/.MN on January 31, 2009 at 17:40:56 from (209.237.107.155):
In Reply to: Gas prices posted by jayinNY on January 31, 2009 at 15:57:54:
Econ 101. Oil is a commodity, like grains, LP, gold, etc. Traded on the commodity market. Supply and demand have nothing to do with the price. Where have you been for the last two years? Investors left the stock market when they crashed that, went into the commodities market, ran the price of grains and oil sky high, and then pulled out. Ever hear of index funds? Not trying to defend oil companies, but where do they buy oil from? Commodity market! What is their margin of profit? "Big" profit? by what percentage of cash flow. Profit of any company dos not mean squat unless you tell the other side of the story- how many dollars of income and expense. ie, cash flow.
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Today's Featured Article - New Hitches For Your Old Tractor - by Chris Pratt. For this article, we are going to make the irrational and unlikely assumption that you purchased an older tractor that is in tip top shape and needs no immediate repairs other than an oil change and a good bath. To the newcomer planning to restore the machine, this means you have everything you need for the moment (something to sit in the shop and just look at for awhile while you read the books). To the newcomer that wants to get out and use the machine for field work, you may have already hit a major roadblock. That is the dreaded "proprietary hitch". With the exception of the
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