Gas Price
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rastamon wrote:
I just paid 3.60 at Valero for my car, oil closed at 117.bbl. Chatter is 120-125 and possibly 150. When does it end
When the country goes in the pooper & were not far away..
I just paid 3.60 at Valero for my car, oil closed at 117.bbl. Chatter is 120-125 and possibly 150. When does it end
When the country goes in the pooper & were not far away..
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224 Posts
The majority of this gas increase are the speculators on wall street. There has been no major storms, refinery blow ups or other calamities that would warrant such a sharp steady increase. There are some anaylsts predicting $75 a barrel by year end. Today it closed at $116 up almost $2 from yesterday. Once an announcment comes of another major oil pocket found,or they announce an official recession, the prices will fall very rapidly. As profit taking will take place and oil contracts will fall 3x's faster than they went up. There is an ultrashort oil& gas fund, symbol DUG, that will go up when oil goes down......something to think about.
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4,314 Posts
You got that right!
We are in and headed deeper into a a major beating/recession/painful time in American history.
This is going to get ugly for the average American.It already is from what I'm hearing in my travels ...
What sucks is that we finally get this jerk out of the White House but his replacement will be another bozo with the candidates we get to choose from.
Obama
Clinton
McCain
Each is a suckass candidate
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We are in big trouble
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PT RICHI]rastamon wrote:
I just paid 3.60 at Valero for my car, oil closed at 117.bbl. Chatter is 120-125 and possibly 150. When does it end
When the country goes in the pooper & were not far away..[/quote]
We are in and headed deeper into a a major beating/recession/painful time in American history.
This is going to get ugly for the average American.It already is from what I'm hearing in my travels ...
What sucks is that we finally get this jerk out of the White House but his replacement will be another bozo with the candidates we get to choose from.
Obama
Clinton
McCain
Each is a suckass candidate
We are in big trouble
PT RICHI]rastamon wrote:
I just paid 3.60 at Valero for my car, oil closed at 117.bbl. Chatter is 120-125 and possibly 150. When does it end
When the country goes in the pooper & were not far away..[/quote]
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2,487 Posts
Gaucho wrote:
I just dont understand this mess.
Isnt it suppose to be supply and demand????
I think it still is,demand will always be high so opec keeps the supply just right,they can pump and sell less oil for more money and sit back and watch there profits go through the roof.
I just dont understand this mess.
Isnt it suppose to be supply and demand????
I think it still is,demand will always be high so opec keeps the supply just right,they can pump and sell less oil for more money and sit back and watch there profits go through the roof.
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6,718 Posts
MACKS wrote:
Gaucho wrote:
I just dont understand this mess.
Isnt it suppose to be supply and demand????
I think it still is,demand will always be high so opec keeps the supply just right,they can pump and sell less oil for more money and sit back and watch there profits go through the roof.
See Stingrays response above...
Right now oil is being manipulated by hedge funds and wall street. Very little to do with supply and demand. I too agree that any news of new oil field, increase in production or dollar getting stronger, will cause oil to plummet. Lets just hope its sooner then later.
Gaucho wrote:
I just dont understand this mess.
Isnt it suppose to be supply and demand????
I think it still is,demand will always be high so opec keeps the supply just right,they can pump and sell less oil for more money and sit back and watch there profits go through the roof.
See Stingrays response above...
Right now oil is being manipulated by hedge funds and wall street. Very little to do with supply and demand. I too agree that any news of new oil field, increase in production or dollar getting stronger, will cause oil to plummet. Lets just hope its sooner then later.
there is no manipulation in the price of oil. as the value of the dollar falls, you need more of them to by the same amount of hard assets.
politicians, no matter how important, have nothing to do with pricing of hard assets. look to your treasury secretary, and your chairman of the federal reserve with respect to the dollar's fall.
politicians, no matter how important, have nothing to do with pricing of hard assets. look to your treasury secretary, and your chairman of the federal reserve with respect to the dollar's fall.
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European prices will always be highier since they have to import all of their oil. I don't think many European countries have their own refineries either, so that is a problem they pay for. We still produce some of our own oil and get most of the rest from Canada.If we didn't have our own refineries things would be worse. So our comparing prices to those in Europe is not valid. Venezuela has great oil prices, every thing else there is terrible.
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2,127 Posts
The major difference in gas prices in Europe and the US is...
Taxes. Which is the same reason why NJ gas is so much cheaper then NY gas. The NJ state taxes are less then NY. European countries tax the piss out of gasoline. That is why it is so much more expensive.
Taxes. Which is the same reason why NJ gas is so much cheaper then NY gas. The NJ state taxes are less then NY. European countries tax the piss out of gasoline. That is why it is so much more expensive.
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853 Posts
I agree somewhat with algreek. I agree the price of oil continuing to hit new highs has to do with speculators and hedge funds inflating oil prices.
The question is, is it sustainable?
And that has Everything to with supply and demand. We have tighter supply and higher demand. Higher demand from emerging market countries like China and India. China is guzzling oil like fuggedaboudit!! As long as the demand for oil doesn't subside I believe these prices aren't going lower any time soon.
Unless we have big production increases by OPEC or find new oil (like algreek said) I don't see these prices coming down anytime soon.
On an inflation adjusted basis it's cheaper than it was in the 70's.
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The question is, is it sustainable?
And that has Everything to with supply and demand. We have tighter supply and higher demand. Higher demand from emerging market countries like China and India. China is guzzling oil like fuggedaboudit!! As long as the demand for oil doesn't subside I believe these prices aren't going lower any time soon.
Unless we have big production increases by OPEC or find new oil (like algreek said) I don't see these prices coming down anytime soon.
On an inflation adjusted basis it's cheaper than it was in the 70's.
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5,139 Posts
TheN4cer wrote:
Why do you think that a refinery has not been built in this country for so many years? Interesting to see the responses.
One reason is placemeant. Where are you going to put it?
No one wants one in there backyard, then the tree huggers come out in groves. It would take 5-10 years to get one built if at all.
That should of been the question 10 years ago.
It was well known then that the plants that are in operation now are outdated, nevermind the maintaince cost or the change over mode to change crude into regular gas or heating oil. Those changes of operation take a while in plant operation and are costly.
Why do you think that a refinery has not been built in this country for so many years? Interesting to see the responses.
One reason is placemeant. Where are you going to put it?
No one wants one in there backyard, then the tree huggers come out in groves. It would take 5-10 years to get one built if at all.
That should of been the question 10 years ago.
It was well known then that the plants that are in operation now are outdated, nevermind the maintaince cost or the change over mode to change crude into regular gas or heating oil. Those changes of operation take a while in plant operation and are costly.1 - 20 of 35 Posts
