2009 Oil Price Thread

[MikeMike]

01-03-09
U.S. Stocks Gain Most in 5 Weeks as Oil Boosts Energy Producers
http://www.bloomberg.com/apps/...ToIE9kIYmGY&refer=home

Seems investors, and crude oil futures are gaining ground, feeling that 2009 is going to be a better year. Oil is at $46.xx for the end of the week, it seems that oil IS related to the stock market, a good economy means oil still isnt profitable for most companies, a $50 is shown numerous times as the BEP for producers

12-31-08
http://biz.yahoo.com/ap/081231/oil_prices.html

Oil had a hell of a year, it seems to me that the speculators see that IF oil rises, other alternative energy solutions become applicable due to costs, however because of this, oil likes to stay around and thus the price must not become exorbitant

Energy Prices are Located Here

For those of you first viewers of this thread, every time i update the OP, i will have the date, then the article i am referencing, and then below that in quotes i will have my own input on the article. because of this, i believe it will be easier to read as it will be easy to find my own commentary, and the links. everytime i update the OP i will change the summary...
Please try to keep personal attacks out of it, and keep an open mind to what can, could, and has happened to oil in the past. One track minds are the bane of our society.

If those who have a 1 track mind do post, please ignore them, dont quote them, and just continue on with a balanced and fair discussion of what is going on with oil prices.

ALSO, THIS IS AN OIL PRICE THREAD, NOT A GASOLINE PRICE THREAD.

 

[dphantom]

Oil will be around for many decades to come. Eventually, the market will move toward other forms of energy. But if we force the market to go where it does not want to be, we only create distortions in the market which will inevitably correct themselves, often painfully. See the home mortgage problem for an excellent current example.

 

[Brovane]

In my opinion this is the time for the government to start encouraging alternative forms of energy. Oil has just been to volatile as a energy solution. How can people and businesses budget properly when gasoline swings from $1.50 a gallon to $4+ gallon? Oil is a national security issue for the US and needs to be treated as such. We need a national energy policy that leads us away from oil because the market will not do the job.

Mortgage is a poor example because it was really the financial markets with there credit default swaps that where the key of the mortgage mess.

 

[StageLeft]

I think it was a beautiful and classical bubble that followed the typical bubble route of blowing up, then contracting very quickly, and before the blowout people saying it's a bubble, others saying it is fundamentally worth that, etc. After seeing the housing bubble burst, this just looked way too much like a duck not to be one. It seems that it's fairly static now, like the stock market. I think we can expect it will move decently in 2009, though not sure in which direction. It will get greater resistance to fall because production methods become unprofitable at lower prices and will be taken off line.

 

[OCGuy]

Just filled up my truck for ~ $30. :thumbsup:


In reality we are one Persian war away from another embargo, but there isnt much we can do about it until alternate energy sources can replace fossil fuels. I guess I'll enjoy cheap gas until next summer.

 

[dmcowen674]

Originally posted by: MIKEMIKE
12-31-08
http://biz.yahoo.com/ap/081231/oil_prices.html

Oil had a hell of a year, it seems to me that the speculators see that IF oil rises, other alternative energy solutions become applicable due to costs, however because of this, oil likes to stay around and thus the price must not become exorbitant

For those of you first viewers of this thread, every time i update the OP, i will have the date, then the article i am referencing, and then below that in quotes i will have my own input on the article. because of this, i believe it will be easier to read as it will be easy to find my own commentary, and the links. everytime i update the OP i will change the summary...
Please try to keep personal attacks out of it, and keep an open mind to what can, could, and has happened to oil in the past. One track minds are the bane of our society.

Your summary is yesterday's news.

Since you are the new caretaker, here is today's article and good luck.

12-31-2008 Oil jumps 14 percent, products up

U.S. crude oil rose 14 percent on the final trading day of 2008 in thin pre-holiday trade on Wednesday, tracking a jump in gasoline as a slowdown in domestic refinery activity sparked fears of tightening fuel supply this winter.

"There's a sign that the industry might be cutting back on production rates to try to boost margins. As heating oil and gasoline prices are rallying, crude is tagging along," said Gene McGillian, analyst at Tradition Energy Stamford, Connecticut.

 

[shiner]

Originally posted by: dmcowen674

Originally posted by: MIKEMIKE
12-31-08
http://biz.yahoo.com/ap/081231/oil_prices.html

Oil had a hell of a year, it seems to me that the speculators see that IF oil rises, other alternative energy solutions become applicable due to costs, however because of this, oil likes to stay around and thus the price must not become exorbitant

For those of you first viewers of this thread, every time i update the OP, i will have the date, then the article i am referencing, and then below that in quotes i will have my own input on the article. because of this, i believe it will be easier to read as it will be easy to find my own commentary, and the links. everytime i update the OP i will change the summary...
Please try to keep personal attacks out of it, and keep an open mind to what can, could, and has happened to oil in the past. One track minds are the bane of our society.

Your summary is yesterday's news.

Since you are the new caretaker, here is today's article and good luck.

12-31-2008 Oil jumps 14 percent, products up

U.S. crude oil rose 14 percent on the final trading day of 2008 in thin pre-holiday trade on Wednesday, tracking a jump in gasoline as a slowdown in domestic refinery activity sparked fears of tightening fuel supply this winter.

"There's a sign that the industry might be cutting back on production rates to try to boost margins. As heating oil and gasoline prices are rallying, crude is tagging along," said Gene McGillian, analyst at Tradition Energy Stamford, Connecticut.

Fix your link

 

[blackangst1]

Meanwhile gas continues to drop. From Gasbuddy avg US prices:

Today 1.613
Yesterday 1.616
One Week ago 1.644
One Month ago 1.821
One Year ago 2.761

 

[StageLeft]

Originally posted by: blackangst1
Meanwhile gas continues to drop. From Gasbuddy avg US prices:

Today 1.613
Yesterday 1.616
One Week ago 1.644
One Month ago 1.821
One Year ago 2.761

I filled up for $25 yesterday. Granted, it wasn't entirely empty, but dayum!

 

[MikeMike]

Originally posted by: dmcowen674

Originally posted by: MIKEMIKE
12-31-08
http://biz.yahoo.com/ap/081231/oil_prices.html

Oil had a hell of a year, it seems to me that the speculators see that IF oil rises, other alternative energy solutions become applicable due to costs, however because of this, oil likes to stay around and thus the price must not become exorbitant

For those of you first viewers of this thread, every time i update the OP, i will have the date, then the article i am referencing, and then below that in quotes i will have my own input on the article. because of this, i believe it will be easier to read as it will be easy to find my own commentary, and the links. everytime i update the OP i will change the summary...
Please try to keep personal attacks out of it, and keep an open mind to what can, could, and has happened to oil in the past. One track minds are the bane of our society.

Your summary is yesterday's news.

Since you are the new caretaker, here is today's article and good luck.

12-31-2008 Oil jumps 14 percent, products up

U.S. crude oil rose 14 percent on the final trading day of 2008 in thin pre-holiday trade on Wednesday, tracking a jump in gasoline as a slowdown in domestic refinery activity sparked fears of tightening fuel supply this winter.

"There's a sign that the industry might be cutting back on production rates to try to boost margins. As heating oil and gasoline prices are rallying, crude is tagging along," said Gene McGillian, analyst at Tradition Energy Stamford, Connecticut.

well, seeing as how i will post articles with declines, and increases in oil prices, you will see this thread go WAYYY better than yours. i will not use anything you post, nor will i even quote you ever again in this thread, posters would be advised just to completely ignore Dave, we can have a good balanced discussion with view points from each side from people whose eyes are open to both sides of a discussion. i would say stay out of here, but it is your right to post, so continue posting, and i hope ppl will ignore you completely.

 

[BarneyFife]

These gas threads provide ample entertainment

 

[Jaskalas]

Originally posted by: BarneyFife
These gas threads provide ample entertainment

Shoot the speculators and it'll be a lot less entertaining. Their manipulation seems to be a very convincing reason as to why it can jump around to $150 and then down to $40.

 

[dmcowen674]

Originally posted by: MIKEMIKE

Originally posted by: dmcowen674

Originally posted by: MIKEMIKE
12-31-08
http://biz.yahoo.com/ap/081231/oil_prices.html

Oil had a hell of a year, it seems to me that the speculators see that IF oil rises, other alternative energy solutions become applicable due to costs, however because of this, oil likes to stay around and thus the price must not become exorbitant

For those of you first viewers of this thread, every time i update the OP, i will have the date, then the article i am referencing, and then below that in quotes i will have my own input on the article. because of this, i believe it will be easier to read as it will be easy to find my own commentary, and the links. everytime i update the OP i will change the summary...
Please try to keep personal attacks out of it, and keep an open mind to what can, could, and has happened to oil in the past. One track minds are the bane of our society.

Your summary is yesterday's news.

Since you are the new caretaker, here is today's article and good luck.

12-31-2008 Oil jumps 14 percent, products up

U.S. crude oil rose 14 percent on the final trading day of 2008 in thin pre-holiday trade on Wednesday, tracking a jump in gasoline as a slowdown in domestic refinery activity sparked fears of tightening fuel supply this winter.

"There's a sign that the industry might be cutting back on production rates to try to boost margins. As heating oil and gasoline prices are rallying, crude is tagging along," said Gene McGillian, analyst at Tradition Energy Stamford, Connecticut.

well, seeing as how i will post articles with declines, and increases in oil prices, you will see this thread go WAYYY better than yours. i will not use anything you post, nor will i even quote you ever again in this thread, posters would be advised just to completely ignore Dave, we can have a good balanced discussion with view points from each side from people whose eyes are open to both sides of a discussion. i would say stay out of here, but it is your right to post, so continue posting, and i hope ppl will ignore you completely.

Originally posted by: BarneyFife
These gas threads provide ample entertainment

Yes and as a spectator I get to watch the FUD in action.

I wonder what liablity there is for AT if I E-mailed Edward McAllister of Reuters that he is being painted as a liar by the OP.

 

[TheSlamma]

MIKEMIKE this might be a good link to go up top there in the OP if you want.

http://www.bloomberg.com/marke...ties/energyprices.html

 

[dmcowen674]

Originally posted by: TheSlamma
MIKEMIKE this might be a good link to go up top there in the OP if you want.

http://www.bloomberg.com/marke...ties/energyprices.html

Nymex Crude Future 44.60 5.57 14.27 12/31

Especially the first line

 

[shiner]

Originally posted by: dmcowen674

Originally posted by: TheSlamma
MIKEMIKE this might be a good link to go up top there in the OP if you want.

http://www.bloomberg.com/marke...ties/energyprices.html

Nymex Crude Future 44.60 5.57 14.27 12/31

Especially the first line

AGAIN.....FIX THE LINK IN YOUR ORIGINAL POST

 

[alien42]

Crude Oil Falls on Concern Slowing Economy to Limit Fuel Demand

"Jan. 2 (Bloomberg) -- Crude oil fell in New York, extending its worst yearly drop, on concern that a global economic contraction will limit fuel demand.

Fuel consumption in the U.S., the world?s biggest economy, was down 3.7 percent during the four weeks ended Dec. 26 from a year earlier, according to the Department of Energy. Oil jumped 14 percent on Dec. 31 after a report showed U.S. fuel stockpiles climbed less than expected and the conflict between Israel and Hamas raised concern Middle East supplies may be disrupted.

?That rally on the 31st didn?t have too much behind it so we?re seeing crude come back to a level more reflective of the fundamentals,? said Toby Hassall, an analyst with Commodity Warrants Australia in Sydney. ?We still don?t have a clear picture of when a global recovery is going to take place.?

Crude oil for February delivery dropped as much as $2.32, or 5.2 percent, to $42.28 a barrel in after-hours electronic trading on the New York Mercantile Exchange. It was at $42.54 a barrel at 2:13 p.m. Singapore time."

http://www.bloomberg.com/apps/...YdHj7NTFrtQ&refer=home

 

[BoomerD]

Yet oddly enough, gas prices here in Northern Kahleeforneeya continue to climb. Up 20-40 cents or more in the past couple of weeks.

I paid $1.95 for unleaded regular at a "mini-mart" on Monday evening in a part of Sacramento that I'm not very familiar with, (San Juan & Fulton area) but later found it at about $1.75 a few miles down the road.
Here's another Gas Buddy Chart:

http://66.70.86.64/ChartServer...e=t&Period=1&Areas=USA Average,Modesto,&Unit=US $/G

 

[dawp]

gas jumped up to $1.42 for reg. here from the $1.35 i paid for it wed. and it cost me <$20 to fill up.

 

[EagleKeeper]

Dropped another $0.02 just before the holiday just outside Denver.

In the west Denver slums I have seen it for $1.33 last weekend.
The changes have slowed, but the downward direction still exists.

 

[Robor]

As far as regular unleaded I've seen a few $1.53's and even a $1.50. Cheapest I've paid recently is $1.55. My new Astra gets such great mileage (28+ around town) I haven't had to fill up in a while.

 

[dmcowen674]

Originally posted by: Common Courtesy
Dropped another $0.02 just before the holiday just outside Denver.

In the west Denver slums I have seen it for $1.33 last weekend.
The changes have slowed, but the downward direction still exists.

I'll notify AP Energy Writer John Porretto that he is wrong according to the above poster.

1-2-2009 The national average at the pump rose slightly overnight but remains well below year-ago levels.

JOHN PORRETTO, AP Energy Writer John Porretto, Ap Energy Writer ? 20 mins ago

The national average for regular unleaded rose eight-tenths of a cent to $1.626 a gallon, according to auto club AAA, the Oil Price Information Service and Wright Express.

 

[Fear No Evil]

Originally posted by: dmcowen674

Originally posted by: Common Courtesy
Dropped another $0.02 just before the holiday just outside Denver.

In the west Denver slums I have seen it for $1.33 last weekend.
The changes have slowed, but the downward direction still exists.

I'll notify AP Energy Writer John Porretto that he is wrong according to the above poster.

1-2-2009 The national average at the pump rose slightly overnight but remains well below year-ago levels.

JOHN PORRETTO, AP Energy Writer John Porretto, Ap Energy Writer ? 20 mins ago

The national average for regular unleaded rose eight-tenths of a cent to $1.626 a gallon, according to auto club AAA, the Oil Price Information Service and Wright Express.

Still dirt cheap. I actually dump a gallon or so on the ground when I fill up because I feel so guilty about how cheap it is.

 

[CallMeJoe]

Originally posted by: dmcowen674

Originally posted by: Common Courtesy
Dropped another $0.02 just before the holiday just outside Denver.
In the west Denver slums I have seen it for $1.33 last weekend.
The changes have slowed, but the downward direction still exists.

I'll notify AP Energy Writer John Porretto that he is wrong according to the above poster.
1-2-2009 The national average at the pump rose slightly overnight but remains well below year-ago levels.
JOHN PORRETTO, AP Energy Writer John Porretto, Ap Energy Writer ? 20 mins ago
The national average for regular unleaded rose eight-tenths of a cent to $1.626 a gallon, according to auto club AAA, the Oil Price Information Service and Wright Express.

Still the most poorly educated American on the internet?
Even you must realize that it is possible for prices to drop in Denver as the national average price rises slightly?

 

[dmcowen674]

More of that downward trend PNers keep claiming:

1-2-2009 Gas prices on the rise

A gallon of regular unleaded rises by nearly a cent to $1.626. Americans used less gas during week of Christmas.

Gas prices increased for the third straight day Friday, to an average of $1.626 for a gallon of regular unleaded gas, according to motorist group AAA. That's nearly a one-cent jump from the previous day's average of $1.618.

State prices: Prices remained above $2 a gallon in only two states on Friday: Alaska ($2.521) and Hawaii ($2.304). Gas was cheapest in Missouri at $1.395 a gallon on average, and sold for less than $1.50 on average in 11 states.

Out of major U.S. cities, Anchorage, Alaska, has the highest average gas prices, at $2.342 a gallon, according to GasBuddy.com, a service that lets motorists post local fuel prices online. St. Louis, Mo., has the lowest average, at $1.321.