2009 Oil Price Thread

[Capt Caveman]

Originally posted by: AlienCraft
You mean prices won't rise after the current excess supply of crude and excess domestic refined gas are sold off ? You mean Multi-National oil corporations won't do anything they can to return to their recent profit levels? Do you really believe that?
I'll go out on a limb and predict $2.75 to $3.25 regular Gas by oh... I'll say the Fourth of July weekend. Labor Day at the latest.

Well, currently oil and gas reserves are growing due to the drop in demand and supply not decreasing to match. With OPEC planning on reducing production, it is still to be seen if it will match the dropping demand for oil. The global economy is projected to worsen this year which will further decrease demand.

Unless production gets reduced more beyond OPEC's planned cuts, I see oil/gas maintaining it's current price levels til the global economy turns around.

 

[BarneyFife]

Originally posted by: blackangst1

Originally posted by: BarneyFife

Originally posted by: blackangst1

Originally posted by: AlienCraft
You mean prices won't rise after the current excess supply of crude and excess domestic refined gas are sold off ? You mean Multi-National oil corporations won't do anything they can to return to their recent profit levels? Do you really believe that?
I'll go out on a limb and predict $2.75 to $3.25 regular Gas by oh... I'll say the Fourth of July weekend. Labor Day at the latest.

What do multinational oil corporations have to do with the price of oil? Looks like you and Dave can both use some reading up on world commodity markets. You guys sharing a pipe now?

Why did gas increase .30 in the last week in Michigan? Keep on enjoying that Exxon cock up your ass.

Do you know how futures contracts work dumbass? OPEC production quotas? Please enlighten us as to how Exxon sets oil prices. Dave's little oil conspiracy campfire is gathering many dullards! puff-puff-pass!

Enlighten me on why gas went up .30 during the past week

 

[StageLeft]

Originally posted by: BarneyFife

Originally posted by: blackangst1

Originally posted by: BarneyFife

Originally posted by: blackangst1

Originally posted by: AlienCraft
You mean prices won't rise after the current excess supply of crude and excess domestic refined gas are sold off ? You mean Multi-National oil corporations won't do anything they can to return to their recent profit levels? Do you really believe that?
I'll go out on a limb and predict $2.75 to $3.25 regular Gas by oh... I'll say the Fourth of July weekend. Labor Day at the latest.

What do multinational oil corporations have to do with the price of oil? Looks like you and Dave can both use some reading up on world commodity markets. You guys sharing a pipe now?

Why did gas increase .30 in the last week in Michigan? Keep on enjoying that Exxon cock up your ass.

Do you know how futures contracts work dumbass? OPEC production quotas? Please enlighten us as to how Exxon sets oil prices. Dave's little oil conspiracy campfire is gathering many dullards! puff-puff-pass!

Enlighten me on why gas went up .30 during the past week

Perhaps it's tied closer time-wise with the price of raw material costs in gas. Oil has been going up recently. A day by day comparison shows that gasoline in Michigan is up about $.30 and yet in Rochester NY the same data show that it has continued to drop, but then our prices were abnormally high to begin with; in fact one of the state's senators had mentioned looking into why were getting screwed. Maybe we are just severely lagged.

 

[AlienCraft]

Originally posted by: blackangst1

Originally posted by: AlienCraft
You mean prices won't rise after the current excess supply of crude and excess domestic refined gas are sold off ? You mean Multi-National oil corporations won't do anything they can to return to their recent profit levels? Do you really believe that?
I'll go out on a limb and predict $2.75 to $3.25 regular Gas by oh... I'll say the Fourth of July weekend. Labor Day at the latest.

What do multinational oil corporations have to do with the price of oil? Looks like you and Dave can both use some reading up on world commodity markets. You guys sharing a pipe now?

I'll take you seriously and respond to you when you can communicate without involving personal characterizations about someone you've never met.

 

[Born2bwire]

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.

Originally posted by: dmcowen674
Message sent to Ms Wieland that she is wrong:

Hi Ms Wieland,

Your story about gas prices going up is incorrect according to the experts at Anandtech:

http://forums.anandtech.com/me...ead=y&STARTPAGE=1#last

Originally posted by: dmcowen674
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.

I thought we moved beyond calling people liars.

 

[dmcowen674]

add Texas to "downward trend"

1-3-2009 Gas prices on rise as 2009 opens

By Elliott Blackburn | AVALANCHE-JOURNAL
Saturday, January 03, 2009
Story last updated at 1/3/2009 - 1:32 am

Gas prices started the new year by bouncing higher but remained far below what drivers paid at the start of 2008.

Lubbock gasoline averaged $1.43 per gallon early Friday afternoon, up 8 cents from the previous week.

The average price across Texas added 8 cents to $1.47 per gallon, according to AAA Texas, Wright Express and the Oil Price Information Service. The national average increased 3 cents to $1.63 per gallon, according to the services.

To comment on this story:

elliott.blackburn@lubbockonline.com 766-8722

walt.nett@lubbockonline.com 766-8706
====================================
Shall I notify them they are wrong as well?

 

[MikeMike]

holy hell someone has no life... dear god...

 

[dmcowen674]

Originally posted by: MIKEMIKE
holy hell someone has no life... dear god...

and you fail at updating your OP

I'm not surprised of course but that is the wish of the board.

 

[alchemize]

Dave is really pissed he lost his uber-thread :laugh:

He's even taken to stalking journalists!

 

[dmcowen674]

Originally posted by: alchemize
Dave is really pissed he lost his uber-thread :laugh:

He's even taken to stalking journalists!

Actually they said they appreciate the feedback.

 

[MikeMike]

Originally posted by: alchemize
Dave is really pissed he lost his uber-thread :laugh:

He's even taken to stalking journalists!

let's try not to provoke dave, he seems to have no life and only has a life revolved around the internet and oil prices... if we ignore him, he will continue to troll, but will have to post more and more until we finally get him to troll to much... and boom the banstick gets brought down upon him...

but, it seems that Oil will hit about $55 after this upcoming week, we will see gas at $2, and then prices will hold steady for a while... that is IMO.

 

[dmcowen674]

Originally posted by: MIKEMIKE

Originally posted by: alchemize
Dave is really pissed he lost his uber-thread :laugh:

He's even taken to stalking journalists!

let's try not to provoke dave, he seems to have no life and only has a life revolved around the internet and oil prices... if we ignore him, he will continue to troll,

but will have to post more and more until we finally get him to troll to much...
and boom the banstick gets brought down upon him...

but, it seems that Oil will hit about $55 after this upcoming week, we will see gas at $2, and then prices will hold steady for a while... that is IMO.

At least your real ambition in life is clearly posted for all to see and you call me the one with no life....kettle meet pot. :laugh:

How can gas get to $2 when you guys claim it's still on a "downward trend"?

 

[dmcowen674]

Originally posted by: MIKEMIKE

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

Edited: 01/03/2009 at 01:36 PM by MIKEMIKE

So who is being designated for a separate gas prices thread?

Edit: Nevermind I see MikeMike has taken it too.

Oil up 3% already with Gaza war excuse. Biggest 1 week increase since 1986.

I suspect they will hot $200 very quickly but for updates on my predictions you will have to look elsewhere where I will be posting.

 

[Capt Caveman]

Oil surges over 3 percent on Gaza, Russian gas row

Oil jumped more than 3 percent on Monday after an Iranian military commander reportedly called for an oil boycott over Israel's ground offensive in the Gaza Strip and on concerns over the deepening Russian gas supply row.

Wall Street's strong start to the new year on Friday and mounting evidence of OPEC's compliance with deep production cuts also helped oil to a third day of strong gains, driving prices to their highest in over two weeks.

U.S. light, sweet crude for February delivery rose $1.47 a barrel to $47.81 by 2330 GMT, with some traders beginning to reckon that the over $110 slump in prices from their $147 record high last July had been overdone.

"The Gaza conflict added to the geo-political risk premium...in the oil price," Commonwealth Bank of Australia analyst David Moore said in a note. "Oil markets may also have a sense that the implementation of earlier announced production cuts by OPEC countries will ultimately tighten oil supplies."

While the violence does not directly threaten any oil supplies, the risk is it could engulf other Middle East countries that produce a third of the world's crude, with No. 4 oil producer and OPEC member Iran typically the most vocal.

 

[imported_Steele]

You have no idea how frustrating it is to hear you guys whining about $1.86 in Detroit or a $0.30 rise in Michigan or what-have-you.

Gas is $2.65 here in Fairbanks (Diesel is almost $4.00), and we've got three refineries and a pipeline running through town. The fuel we burn is almost exclusively refined here, and the refinery operators complain about how hard it is to make money, as our prices are nearly a full dollar above the national average.

 

[TheSlamma]

Originally posted by: TheSlamma
$1.33-1.39 is pretty common here in Denver right now.

Gas reached $1.25 - $1.32 at many stations in Denver over the weekend.

 

[StageLeft]

suspect they will hot $200 very quickly

Define "quickly".

 

[GoPackGo]

Gas here is going to 1.79 today next stop...$2.00

 

[dualsmp]

Wow they're blaming the 3 percent increase in oil price because of what one Iranian commander said? One guy really? This is beyond ridiculous. What if two random military commanders in the Republic of Congo started making farting noises with their hands while hopping on one leg and making funny faces. Should we expect a 6% increase? :laugh:

Oil jumped more than 3 percent on Monday after an Iranian military commander reportedly called for an oil boycott over Israel's ground offensive in the Gaza Strip and on concerns over the deepening Russian gas supply row.

 

[bananapeel42]

Oil is below 50 a barrel yet i've noticed pricing on gas rising sharply so far this week. whatever i guess

 

[Saga]

Gas in Omaha was $1.52 for 89 octane (10% ethanol) the day before Christmas. Christmas Eve it jumped to $1.58, Christmas day it was $1.62, and it has steadily rose every day since to it's current $1.80 today.

Considering we statistically maintain ourselves on the lower 30% spectrum on prices, I'm curious as to why we're seeing a local spike.

 

[MiniDoom]

lulz.:laugh:

 

[StageLeft]

Originally posted by: bananapeel42
Oil is below 50 a barrel yet i've noticed pricing on gas rising sharply so far this week. whatever i guess

Gas chases crude. Crude dropped into the 30's, so it chased it down but its lag is ensuring that now with oil going up, so too will gas.

Oil is down 12% today. Clearly, the market has no idea what oil is really worth, up hard, down hard, hehe

 

[PingSpike]

The thing I read said that the only reason oil has been going up in price is that very few people are actually trading it and those few ran with the bullish news from the hamas israel thing.

Then crude stockpiles came in 4 times higher then expected today.

 

[BarneyFife]

1.99 in Detroit

I hope Obama launches an investigation into this price gouging.