Mark, good luck! If something happens to your house don\’t wait for your insurance company to pay for it or the Feds, you\’d better depend on your own nest egg!
Predictions have nothing to do with rising gas cost. Every year at the beginning of summer the cost of gas goes up. Vacations/Travel, it has been ongoing for years and years. This is nothing new.
Insurance rates do NOT depend on hurricane forecasts. The length of the rate approval process alone would prohibit this, even if a company were stupid enough to try it.
Exactly – while some companies use a hurricane model as part of their ratemaking process, the outcome of the model isn\’t \”this year\’s forecast.\” It\’s how much damage we can expect a hurricane to do in an average year.
I realize we\’ve got the changeover to summer blends of gasoline, and the increased demand, but isn\’t the price partly based on predictions? My loose understanding is that you have people looking at a number of factors and predicting what the price per barrel will be. So, the gas companies operate based on the a prediction of what the oil price will be, not what it actually is. When the price of gas at your local quickie fill goes up 5 cents, it could be because the gas company has said that based on the prediction that the price of oil will go up, you need to raise your price at the pump so you have enough to pay for your next load of gas.
I also understand that the profit on a gallon of gas is only about 7 cents. That seems to be a little known that haters of Big Oil will never talk about.
Where the oil companies have to drill offshore now, deepwater, costs ONE BILLION DOLLARS and takes two years if all goes well. THAT\”S why gas prices are high. Duh………can you understand that?
Meanwhile oil oozes out of the groung in California and elsewhere where drilling is virtually banned.
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Mark, good luck! If something happens to your house don\’t wait for your insurance company to pay for it or the Feds, you\’d better depend on your own nest egg!
If this person did so well in 2006 maybe they will be right again this year.
Ted Kennedy is also laughing all the way to the bank since he owns a significant share in oil and gas companies…
OOPS, did I just expose ANOTHER hypocracy of the left???
Predictions have nothing to do with rising gas cost. Every year at the beginning of summer the cost of gas goes up. Vacations/Travel, it has been ongoing for years and years. This is nothing new.
Insurance rates do NOT depend on hurricane forecasts. The length of the rate approval process alone would prohibit this, even if a company were stupid enough to try it.
Exactly – while some companies use a hurricane model as part of their ratemaking process, the outcome of the model isn\’t \”this year\’s forecast.\” It\’s how much damage we can expect a hurricane to do in an average year.
Bull,
You make an awful lot of references to Ted. I was just wondering if you two used to date, and it ended badly?
I realize we\’ve got the changeover to summer blends of gasoline, and the increased demand, but isn\’t the price partly based on predictions? My loose understanding is that you have people looking at a number of factors and predicting what the price per barrel will be. So, the gas companies operate based on the a prediction of what the oil price will be, not what it actually is. When the price of gas at your local quickie fill goes up 5 cents, it could be because the gas company has said that based on the prediction that the price of oil will go up, you need to raise your price at the pump so you have enough to pay for your next load of gas.
I also understand that the profit on a gallon of gas is only about 7 cents. That seems to be a little known that haters of Big Oil will never talk about.
Where the oil companies have to drill offshore now, deepwater, costs ONE BILLION DOLLARS and takes two years if all goes well. THAT\”S why gas prices are high. Duh………can you understand that?
Meanwhile oil oozes out of the groung in California and elsewhere where drilling is virtually banned.