Wednesday, March 08, 2017

Supply/Price Decoupling?


EIA weekly petroleum report (emphasis added):



Prices remain stubbornly high while inventories cannot shrink to even upper storage levels with the switch to spring fractions here already.  IMO retail prices should be much lower but i am almost always wrong due to my stubborn adherence to facts and supply/demand economic theories. 

49 comments:

Rob Dawg said...

Someone, everyone who has Outsider's contact. reassure her that we are mostly harmless. She's rightfully concerned of repeating past bad experiences.

Lawyerliz said...

Please tell I miss her dreadfully.

Lawyerliz said...

And I want to hear the latest on her bees !!

Lawyerliz said...

Also, supply and demand doesn't work for oil???

Lawyerliz said...

House up another 200$! On Zillow.

Lawyerliz said...

10 year up to 2.56%. Somebody named Tepper sez he's gonna short bonds.
Anybody oUT there.

Rob Dawg said...

Liz. The tracking metrics say EN is doing well. The lull times are not anything except useful people in the real world doing the things that keep them interesting.

LBD said...

Why sell for less if you can make more money? Someone will blink if they are holding cost are to much and then it will move.

I just quit work on the project house a little detailing and clean up it's done. Three months empty and o no lookers. Looks like I have rents for half the duplex. Now back to my fun projects. :)

Lawyerliz said...

That's depressing.

Rob Dawg said...

The drink my kiddo made up for us Monday.

2 pineapple juice.
1 vermouth.
1/2 Midori.
1/2 Bourbon.
Broken ice.
Combine all.
Shaken.
Pour into cocktail glass rimmed with sugar and grenadine.

Yes it sounds bad. Suit yourself.

LBD said...

What's depressing?

Mike said...

something something...peak oil

Mike said...

just saw LA LA Land..pretty good movie (and I'm not big into movies)...

Lawyerliz said...

Not renting.

Mike said...

so we've had our "Day without immigrants" and "Day without women"..I think I'll organize a "Day without grumpy old guys" to demonstrate how important we are to the country..

Rob Dawg said...

La La Land was too predictable and formulaic for me. I can however appreciate why people liked it.

Rob Dawg said...

Wait. A day without grumpy old guys. Do I post more or not at all? Is 36 holes instead of 18 contributing or dropping out more? If I tank up the GS1100-ES and burn up a few mountain roads am I dropping out or showing up?

Mike said...

ha ha..yeah best just to shut down EN for a day I think...

Rob Dawg said...

It took a bit but EN is back full time now. I will be dead a week before anyone notices. Posts are scheduled out 3-4 days.

Wouldn't it be a cosmic joke if I got a couple hundred posts ahead and no one knew?

Rob Dawg said...

I was surprised at the radically divergent home price appreciation around your city. Why did the island lag so much?

Mike said...

are you talking to me Rob?? what island..Mercer Island??

Rob Dawg said...

I saw Bainbridge lagging but yeah, in general the price appreciation seems random.

LBD said...

LL I am not depressed it's just biz. I steal a property or I don't buy it. All where cash and all paid back at least once if not twice. I can take a hit but I do like winning. More fun coupons the better! :)

LBD said...

Count me in on the Grumpy old man gig! Realist come accrossed as doomers and they think I am grumpy. When do we strike? What do I do take a day off from what? LOL!

Lawyerliz said...

Grumpy old women doesn't have the same cache'
Humphf

Mike said...

in general the price appreciation seems random.

I haven't seen the break-down..if you post a link I'd be glad to offer my expert analysis and commentary.. ;<)

Mike said...

Count me in on the Grumpy old man gig!

cool...we might have a movement starting here..which is always cause for celebration at our advanced ages!!

Rob Dawg said...

Short Metamucil stock!

Lawyerliz said...

Shouldn't you go long?

Walt Tucker said...

CR told us recently that the rig count was way up and increased production would follow. Today oil futures fell 5%. He warned us...

LBD said...

Everybody go to Denny's order a full breakfast with extra bacon. That will make a statement.

Mike said...

Our protests will have to be strategically timed however to accommodate our nap schedules..

LBD said...

Not to mention doctors visits and time zones. This thing is gonna be Big!

Cinco-X said...

How about scheduling a pig on dead posts so that some of us don't get left there
😥

Cinco-X said...

That reminds me... What ever happened to Vermont codger?

Cinco-X said...

Ouch!!!!

Cinco-X said...

http://www.tabletmag.com/jewish-news-and-politics/225587/trump-american-press

H/T Nemo

Mike said...

where is nemo posting these days..muddy economist??

LBD said...

Good Morning!

Another beautiful day ahead!

Cinco-X said...

Reddit

Cinco-X said...

'morning

Rob Dawg said...

Busy day. Pull CAT6 wire. Hair trim. Pick up tuxedo. Moar yard work!

LBD said...

Local gas prices down 8 cents this past week to $2.07.

Cinco-X said...

http://dilbert.com/strip/2017-03-09

Mike said...

$2.59 (Costco) cheapest I could find up here. I guess that's the premium you pay for our great weather!!

Elizabeth Merceret said...

2.219 here.

Rob Dawg said...

$2.69 at both Costco and Food4Less.

Something strange happened however. Premium has always been 20¢ more. Always until last week when for several days it was 16¢ more. Back to 20¢ now.

Taxes 39.5¢/gal, 1.4¢/gal, 2.25%, 9.67%, + local sales taxes.

Cinco-X said...

$2.079 at BJ's this past weekend

Cinco-X said...

http://m.chron.com/news/politics/election/article/Donald-Trump-s-favorability-numbers-now-higher-10987190.php

Ouch