Crude oil wealth questions and fixed price mechanisms

Crude oil wealth questions and fixed price mechanisms
Crude oil prices shot up last year to $147/barrell, and now, it is down by more than 50%.
We all know that oil-exporting countries made a lot of money during this boom. Here are my questions regarding this boom and oil prices in general:
1. The PRODUCING nations made a lot of money as did the commodity traders, and perhaps even the derivative traders. Did the people DOWN the supply chain make money, such as the proprietors of the gas stations?
2. We can all see and hear about how much money countries like Dubai and Russia has made from very high-priced crude oil prices. However, when crude oil prices are LOW, do we see a similar kind of economic growth amongst the CONSUMERS of crude oil prices? My quick answer is "YES", but the consumers "invest" their surplus funds (surplus since gas is cheap) on wasteful projects, such as gas-guzzlers.
3. Are the consumers better investors than the oil-producing aristocracy (i.e. derivatives/commodity traders, oil politicians, etc.)?
4. If exchange rate pegs can be set, why can't there be a target- price per barrell of oil? This would have many benefits such as pricing stability, and the pricing mechanism would involve reducing/ expanding production of oil.
Reply to
2.7182818284590...

I shall endeavor to answer your questions to the 215th decimal place...
Doubtful, and anecdotally, based on my brief conversations with gas station owners (requiring a Farsi translator), no. Since they're officially "little guys", they generally get screwed in the end no matter what happens...
Yeah, rising and falling energy prices do affect economic growth, but it's a push-pull type of thing, so you might not really be able to detect the actual effect and it might actually be inversely correlated for long periods of time compared to what you might think (as the economy crapped out, oil prices fell, and previously as the economy grew oil prices rose, so a lot of times it appears that as oil prices go, so goes the economy...
I don't understand the question, since it seems to be based on a lot of questionable assumptions...in my book, they are all equally stupid, so there...
Uhhh, ever heard of "OPEC"? That's EXACTLY what they do...or TRY to do...
Reply to
Bill Reid
In Canada (like most places) taxes on gasoline are quite high. When the price of gas is high the government has more money to spend on social programs. When they are low they have to get money from other tax revenues. Hard to say.
shortT
Reply to
shortT

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