bill to allow feds to cap gas prices at 2.49!!!!!!

Yeah, we have race fuel aswell at some of our racetracks, and some of the petrol stations near the racetracks have started selling 105 octane to try and cash in on people coming out of a day at the track and wanting to "improve" their cars performance.

I use 99 all the time as mine's a Jap import and mapped to run on 100ron, and averaging 19mpg, doing 40 miles a day for work, it soon drinks whatever I put in it :rolleyes: But still, 0-60 in 4.8 seconds will do me ;)

Sorry, off on a totally different tangent again. :oops:

I'll let you guys carry on and discuss your fuel crisis without butting in now. :)

You aren't butting in at all. You are as entitled and welcome to participate in this thread as any of us colonials are.

Thanks very much, just didn't want to distract from the original thread title and post too much! :8:

Well they probably wouldn't call it the "off topic cafe" if they didn't allow for you to stray off topic now and then.

The cheapest I ever paid for gas was 98 cents a gallon. That was in the late 90's...of course I also lived in OK at the time.

Quote:

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Originally Posted by FIREball

They would never agree to cap it, even at 4.49

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i agree with fireball Its a natural resource it will keep depleting theres no way it can be at a constant price

Hey guys/gals,

I watched a House of Representatives meeting last night on C-span that totally changed my view of how this whole gas thing works.

So, here's the jist of what I got: Most big banks/investment firms trade on margins. This is nothing new. Trading on margins means buying way more stocks/commodities than you currently have funds for. As long as the exchange you are buying with doesn't "margin call" (meaning you have to pony up the dough NOW) you can get away with this to some extent. They do have fees and limits on how much you can do though.

BUT....

I heard on this report how US commodities are traded on foreign markets which have little to NO regulations and NO MARGIN CALLS. Which means, provided that exchange likes you...you can call up and say "I want 3,000,000 barrels of oil" and front little to no money for it.

They pointed out that Valero Energy Corp and Goldman Sachs Investment firms are buying up TONS of oil in such a way and then announcing "Crude will hit $200 a barrel".

Yeah, with this kind of bizarre demand affecting supply it will. I don't understand how US commodities can be traded so willy nilly on foreign markets.

It would be like me buying up ALL ball pythons in the US through a European market and fronting no money for it, and driving up prices as a result.

JonV