GAS PRICES

[reb]

Originally Posted by Plate Dad

Shut down and head for the hills.

I wouldn't "head for the hills". We were the last to get a reliable gasoline supply after Katrina.

Y'all get ready to pay out the ass whenever employment picks back up. Gas should be under $2 a gallon now with demand low due to millions of cars and trucks off the road now. But no, Big Oil justs cuts supply to keep the market tight. It will be four dollars a gallon just as soon as Big Oil and the speculators feel Americans can afford to pay it.

[Plate Dad]

Get ready will jump ten to twenty in two weeks.

[Ace13]

Originally Posted by Plate Dad

Get ready will jump ten to twenty in two weeks.

Hopefully you're better at predicting gas prices than you are at predicting stock prices. Somehow I doubt it, though.

[gottalaff]

I heard last night that 60% of the gulf oil production has been shut down due to Ida.

[Plate Dad]

Originally Posted by Ace13

Hopefully you're better at predicting gas prices than you are at predicting stock prices. Somehow I doubt it, though.

Right. Everyone knows that crooks are just that crooks.

Originally Posted by gottalaff

I heard last night that 60% of the gulf oil production has been shut down due to Ida.

LONDON (Reuters) - Oil prices rose on Tuesday to above $80 a barrel after a late-season hurricane disrupted oil and gas output in the Gulf of Mexico and the dollar stayed close to a 15-month low.
U.S. crude for December delivery was up 92 cents to $80.35 a barrel by 1525 GMT, after trading most of the session below yesterday's close of $79.43.
London Brent crude was up $1.01 at $78.78.
Hurricane Ida, the first real weather threat to oil production of the 2009 season, was downgraded to a tropical depression on Tuesday, but output remained curtailed as producers awaited its passage out of the Gulf.
Ida shut in 29.6 percent of oil production and 27.5 percent of gas output from the Gulf of Mexico, the U.S. Minerals Management Service said Monday.

[Ace13]

Originally Posted by Plate Dad

Get ready will jump ten to twenty in two weeks.

It never did make this jump, like you had predicted. Prices have been pretty steady +/- 5 cents or so.

You should probably just keep your predictions to yourself from now on.

[tonync55]

Crude finished about $69 a barrel today. Gas prices down to $2.45 a gallon in the foothills of NC.

[Plate Dad]

Originally Posted by Ace13

It never did make this jump, like you had predicted. Prices have been pretty steady +/- 5 cents or so.

You should probably just keep your predictions to yourself from now on.

You are correct. Gas companies have cut back in production to keep prices high. People are showing that the economy is still very sugish. No jobs ... no money, no money... no wasted travel. Numbers have gottten stable for now. Which is somewhat of a puzzle. Opec deciding to stay with present numbers only show that them are afraid if they cut production. It's overall effect will rock the recovery boat far to much. We might see under two dollars a gallon. But, the oil companies are really pressed to keep those big profits coming. So, production should stay at present or less. Now, this is of course not taking into account a major conflict in the world such as Iran or elsewhere. Or a few major winter storms.

[Plate Dad]

Originally Posted by Plate Dad

You are correct. Gas companies have cut back in production to keep prices high. People are showing that the economy is still very sugish. No jobs ... no money, no money... no wasted travel. Numbers have gottten stable for now. Which is somewhat of a puzzle. Opec deciding to stay with present numbers only show that them are afraid if they cut production. It's overall effect will rock the recovery boat far to much. We might see under two dollars a gallon. But, the oil companies are really pressed to keep those big profits coming. So, production should stay at present or less. Now, this is of course not taking into account a major conflict in the world such as Iran or elsewhere. Or a few major winter storms.

Iraqis say Iran has seized oil well in Iraq, demand withdrawal

December 18, 2009 1:57 p.m. EST


The oil well is in Maysan province, east of Amara, near the Iranian border, officials say.

Major Winter Storm!!!

[tonync55]

Originally Posted by Plate Dad

Iraqis say Iran has seized oil well in Iraq, demand withdrawal

December 18, 2009 1:57 p.m. EST


The oil well is in Maysan province, east of Amara, near the Iranian border, officials say.

Major Winter Storm!!!

Rumor has it that Iraq has WMD's again. Is it time for another surge?

[VA49er]

Originally Posted by tonync55

Rumor has it that Iraq has WMD's again. Is it time for another surge?

No, O is surging in Afghanistan at the moment. Besides, most admit the Iraq surge worked last time.

[chipshot]

Winter storms keep people off the roads and can only lower gas prices. Use your head.

[Southern_Yankee]

Originally Posted by chipshot

Use your head.

Fred appreciates you.

[Plate Dad]

Originally Posted by chipshot

Winter storms keep people off the roads and can only lower gas prices. Use your head.

Winter Storms cause an increase use of heating oil. This increases the cost of a barrel of oil. Which in turns increase the cost of gas. We now have a surplus and it will take more than this storm. Just like it will take more than a taking an oil well for a few days.

[chipshot]

Maybe one day you will get a prediction correct.

[Ace13]

Originally Posted by chipshot

Maybe one day you will get a prediction correct.

[Plate Dad]

Originally Posted by chipshot

Winter storms keep people off the roads and can only lower gas prices. Use your head.

Originally Posted by Southern_Yankee

Fred appreciates you.

Originally Posted by chipshot

Maybe one day you will get a prediction correct.

NEW YORK (AP) -- Oil prices rose above $79 barrel Monday for the first time in seven weeks as an extended cold snap triggered an end-of-year rally in energy futures.
Benchmark crude for February delivery added 63 cents to $78.68 a barrel in light, holiday trading on the New York Mercantile Exchange. Prices rose as high as $79.12 earlier in the day, the highest since Nov. 5.
Futures contracts for oil, natural gas and heating oil have all become more expensive this month as snow storms blanketed parts of the country and a sharp drop in supplies of crude and other fuels surprised traders.

Just imagine. Could I be right. With no one driving I predict that it is traders driving prices, big oil looking for profits. But, that is just me. Just an exapmle I have seen it vary in the last few days from $2.45 to $2.68 in Winston. Can't wait to see what happens when we start driving again.

[VA49er]

Originally Posted by Plate Dad

NEW YORK (AP) -- Oil prices rose above $79 barrel Monday for the first time in seven weeks as an extended cold snap triggered an end-of-year rally in energy futures.
Benchmark crude for February delivery added 63 cents to $78.68 a barrel in light, holiday trading on the New York Mercantile Exchange. Prices rose as high as $79.12 earlier in the day, the highest since Nov. 5.
Futures contracts for oil, natural gas and heating oil have all become more expensive this month as snow storms blanketed parts of the country and a sharp drop in supplies of crude and other fuels surprised traders.

Just imagine. Could I be right. With no one driving I predict that it is traders driving prices, big oil looking for profits. But, that is just me. Just an exapmle I have seen it vary in the last few days from $2.45 to $2.68 in Winston. Can't wait to see what happens when we start driving again.

LOL

[reb]

$78 a barrel is bullshit. Back to $5.00 a gallon just as soon as the economy picks up at this rate. I hope it never comes back.

[Plate Dad]

Crude Oil Feb 10

(NY Mercantile: CLG10.NYM)
Last Trade:80.900002Trade Time35am ETChange: 1.54 (1.94%)Prev Settlement:N/AOpen:N/ABid:N/AAsk:N/ADay's Range:N/AVolume:N/AOpen Interest:N/ASession:Exp. Date:N/A