- Oct 30, 2000
- 42,589
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Engineer
Elite Member
- Oct 9, 1999
- 39,230
- 701
- 126
It's the same ole pattern.....raises like hell and then trickles down, very similar to the other trickle down....almost non existent, lol.
http://www.texasgasprices.com/retai...Average&city2=&city3=&crude=y&tme=24&units=us
looks like they track pretty closely together, both rise and fall.
Last edited:
Engineer
Elite Member
- Oct 9, 1999
- 39,230
- 701
- 126
Link doesn't work.
Regardless, I've seen many $0.25 to $0.35 price hikes at the pump in one day but I've never seen a $0.25 to $0.35 drop in a day. Its goes up (at least around here) at "up to" $0.35 in a day and then trickles down over several weeks (when/if it does fall).
- Oct 30, 2000
- 42,589
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- 0
Down $0.50 from peak when the spike caused by the pipeline breach at beginning of month.
Using the Truck stop as a guage - easy to see the sign from the road as go by; high was $4.14 Now is $3.59
Using the Truck stop as a guage - easy to see the sign from the road as go by; high was $4.14 Now is $3.59
IEA is the same agency that the world is out of oil a few weeks ago.
6-23-2011
http://news.yahoo.com/s/nm/20110623...Ec2VjA3luX3RvcF9zdG9yeQRzbGsDb2lsZGl2ZXN0b2xv
Oil dives to lowest since Feb as IEA taps stocks
Oil prices crashed more than $8 to a four-month low on Thursday after the world's consumer nations said they would band together to aid the global economy by releasing emergency oil reserves for the third time ever.
The International Energy Agency said it would help ease the strain by releasing 60 million barrels of government-held stocks, immediately increasing global supply by nearly 2.5 percent.
The move shocked traders
The IEA release, at 2 million barrels per day (bpd) over the next 30 days, is more than the daily loss of Libya's 1.2 million bpd exports and comes despite many views that the world is not immediately short of crude
analysts said the use of the reserves now -- unlike the previous two releases, which immediately followed the first Gulf War and Hurricane Katrina -- signaled it may have been more concerned with tempering prices to aid a faltering economic recovery.
"The move is significant, as it represents a reach by member countries for the remedy of last resort to high oil prices,"
said John Kilduff, a partner at Again Capital LLC. "Clearly, the energy price spike is being cited as the reason for the economic slowdown and this is a reaction to that.
6-23-2011
http://news.yahoo.com/s/nm/20110623...Ec2VjA3luX3RvcF9zdG9yeQRzbGsDb2lsZGl2ZXN0b2xv
Oil dives to lowest since Feb as IEA taps stocks
Oil prices crashed more than $8 to a four-month low on Thursday after the world's consumer nations said they would band together to aid the global economy by releasing emergency oil reserves for the third time ever.
The International Energy Agency said it would help ease the strain by releasing 60 million barrels of government-held stocks, immediately increasing global supply by nearly 2.5 percent.
The move shocked traders
The IEA release, at 2 million barrels per day (bpd) over the next 30 days, is more than the daily loss of Libya's 1.2 million bpd exports and comes despite many views that the world is not immediately short of crude
analysts said the use of the reserves now -- unlike the previous two releases, which immediately followed the first Gulf War and Hurricane Katrina -- signaled it may have been more concerned with tempering prices to aid a faltering economic recovery.
"The move is significant, as it represents a reach by member countries for the remedy of last resort to high oil prices,"
said John Kilduff, a partner at Again Capital LLC. "Clearly, the energy price spike is being cited as the reason for the economic slowdown and this is a reaction to that.
Imp
Lifer
- Feb 8, 2000
- 18,828
- 184
- 106
I'm a bit confused on why any release was done at all. They didn't do anything when gas was $1.10, but now that it's dying steadily, and on a path back to the $85 range, they do it? Kicking the horse while it's down, or giving a push out the window...
Good time to buy oil stocks.
Good time to buy oil stocks.
At first the U.S. and Obama was not mentioned.
It was Obama doing this.
http://finance.yahoo.com/blogs/dail...XR1bWI-?sec=topStories&pos=main&asset=&ccode=
Dow, Crude Tumble After Obama Releases Strategic Reserves
A relatively quiet day took a dramatic turn mid-morning when the White House and IEA announced a joint plan to release 60 million barrels of oil from emergency reserves. Shortly thereafter, House Minority Leader Eric Cantor walked out of the debt-ceiling talks, saying the onus is now on President Obama to break the impasse.
Obama announced the Afghan troop withdrawal followed by this morning's release of strategic petroleum reserves, which, of course, was reportedly done after close consultation with the Saudis and has the added goal of putting pressure on Iran.
The Obama administration is seeking to "do something to get the public's attention" now that the 2012 campaign is under way.
So does this make me change my mind and vote for Obama again?
Can't see how this is a permanent fix so the answer is no.
All we can do is Hope and Change every four years so why go with a losing Team?
Republicans will get in again and if still no improvement, Hope and Change again to Democrat and the endless vicious cycle goes until the U.S. is dissolved and have to start all over again anyway.
It had a good run.
Can't see how this is a permanent fix so the answer is no.
All we can do is Hope and Change every four years so why go with a losing Team?
Republicans will get in again and if still no improvement, Hope and Change again to Democrat and the endless vicious cycle goes until the U.S. is dissolved and have to start all over again anyway.
It had a good run.
Eh, they are just doing it to prove a point. They can and will take action to hurt the producer when consumer is being effed with.
It has nothing to balance market economics IMO. We are powerless, but we can reduce their income temporarily.
On a side note, us crude reserves slipped higher then normal at obamas direction. Im sure this will be reason to again invest $$$ in oil futures.
Is he targeting investors/hedge funds or OPEC?
It has nothing to balance market economics IMO. We are powerless, but we can reduce their income temporarily.
On a side note, us crude reserves slipped higher then normal at obamas direction. Im sure this will be reason to again invest $$$ in oil futures.
Is he targeting investors/hedge funds or OPEC?
Well oil is going back up again anyway. Bleah, we could release all reserve oil, flood the markets with ships sitting at port for months with unsold oil, and it would still be a safe haven for investors.
Its sad when this is still even the best place to invest money, even when there is obviosuly more supply tgen demans.
Will have to see where this goes, im assuming.if it didnt tank immeidately, its going to have hardly any effect on prices at the pump
Its sad when this is still even the best place to invest money, even when there is obviosuly more supply tgen demans.
Will have to see where this goes, im assuming.if it didnt tank immeidately, its going to have hardly any effect on prices at the pump
Doppel
Lifer
- Feb 5, 2011
- 13,306
- 3
- 0
Still haven't come across any compelling argument of why the US releasing the amount of oil it uses up in only 1.5 days is really going to make any real difference. A good bit of the shaving today is already baked back in. Meanwhile the US has lost 5% of its strategic reserve. Strategic, you know for when sh*t gets real, not because the president wants to use it as a soundbite at his next press conference to say "Look, I care!"
i saw an article that proposed the following:
1. sell the entire oil reserve
2. reinvest earnings into a different energy market to get rid of said foreign oil dependence.
think about it, if we have over 500million barrels of oil, and we have proven reserves to tap all over our countyr, lets sell the iron while the irons hot
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6-24-2011
http://news.yahoo.com/s/nm/20110624...Ec2VjA3luX3RvcF9zdG9yeQRzbGsDb2lscmVib3VuZHNh
Flood of oil no effect, oil prices continue to rise
Brent rebounded 72 cents on Friday to $107.98 a barrel by 0324 GMT, while U.S. crude climbed 95 cents to $91.97.
Venezuela sees no long-term impact on oil prices from the IEA stockpile release, saying it was a political decision linked to elections in the United States and Europe.
"Politicians are under a lot of heat and they would like to anything they can to bring the price down," said John Vautrain, director at Purvin & Gertz energy consultants.
http://news.yahoo.com/s/nm/20110624...Ec2VjA3luX3RvcF9zdG9yeQRzbGsDb2lscmVib3VuZHNh
Flood of oil no effect, oil prices continue to rise
Brent rebounded 72 cents on Friday to $107.98 a barrel by 0324 GMT, while U.S. crude climbed 95 cents to $91.97.
Venezuela sees no long-term impact on oil prices from the IEA stockpile release, saying it was a political decision linked to elections in the United States and Europe.
"Politicians are under a lot of heat and they would like to anything they can to bring the price down," said John Vautrain, director at Purvin & Gertz energy consultants.
6-24-2011
http://www.weau.com/home/headlines/..._in_gasoline_prices_nationally_124448539.html
Gas prices still higher than rest of the state despite continuing drop in gasoline prices nationally
Despite gas prices expecting to go down with the release of 30 million barrels from the strategic petroleum reserve, gas prices are still higher in Eau Claire than the rest of the state.
The Department of Justice has taken on the gas prices investigation from the Eau Claire city council.
Despite a continuing drop in gasoline prices, prices in the Chippewa Valley are still considerably higher than much of the state.
Mark Olson explains, "they say of the area and the distance it is to transport the fuel but i was in some remote areas of the state and it was still less than what we were. I just don't understand it."
Eau Claire city councilman, Mark Olson says the council asked the Department of Justice back in February to investigate potential price fixing in the Eau Claire area.
"Basically we were informed that we wouldn't get any information on the investigation that the only way we'd find out if anything happens is if charges were brought against any of the companies in town that may be involved in price fixing," says Olson.
The Department of Justice said it cannot comment on any current or potential investigation but has received the information from the city. However, if anyone has information or suspects illegal activity, they are urged to speak to the local Department of Justice office.
"Hopefully we will see prices decline and get down where families can afford to go on a vacation," says Olson.
=============================
Wonder why there is no investigation into Chicago's Gas prices being the highest in the country?
http://www.weau.com/home/headlines/..._in_gasoline_prices_nationally_124448539.html
Gas prices still higher than rest of the state despite continuing drop in gasoline prices nationally
Despite gas prices expecting to go down with the release of 30 million barrels from the strategic petroleum reserve, gas prices are still higher in Eau Claire than the rest of the state.
The Department of Justice has taken on the gas prices investigation from the Eau Claire city council.
Despite a continuing drop in gasoline prices, prices in the Chippewa Valley are still considerably higher than much of the state.
Mark Olson explains, "they say of the area and the distance it is to transport the fuel but i was in some remote areas of the state and it was still less than what we were. I just don't understand it."
Eau Claire city councilman, Mark Olson says the council asked the Department of Justice back in February to investigate potential price fixing in the Eau Claire area.
"Basically we were informed that we wouldn't get any information on the investigation that the only way we'd find out if anything happens is if charges were brought against any of the companies in town that may be involved in price fixing," says Olson.
The Department of Justice said it cannot comment on any current or potential investigation but has received the information from the city. However, if anyone has information or suspects illegal activity, they are urged to speak to the local Department of Justice office.
"Hopefully we will see prices decline and get down where families can afford to go on a vacation," says Olson.
=============================
Wonder why there is no investigation into Chicago's Gas prices being the highest in the country?
guyver01
Lifer
- Sep 25, 2000
- 22,135
- 5
- 61
But.. didn't you email the Attorney General???? You mean... he doesn't believe you either??
Doppel
Lifer
- Feb 5, 2011
- 13,306
- 3
- 0
Surely whoever authored that doesn't actually believe that the $70B from selling the entire reserve would get the country off foreign oil? Selling the reserve would crash oil prices for a time and then that would be that. It would be enough to independently fuel the entire world for around 90-100 days and that is all.
I dont see why we couldnt sell a bit, .and use the $ to convert specific regions or areas into non-oil based usage ( maybe DC, NY, etc...) and just see what happens.
If our reserve capacity is so worhless and meaningless as everyone implies, lets sell as muh as we can while the price is high.
Im sure we could sell several 100 million at a reasonable cost.
So if we made 27billion$$$, how do you think we could best use that to get some new ideas or infrastrucutre rolling on a big scale? ( think maybe charging stations, funding for more hybrid tech on a bigger and more advanced scale)
If used wisely i think it could have a really interesig result.
I just crunched some #s, if we spent $ for around 1,000,000 exclusive high mpg only vehicles, maybe hybrid/electric, maybe not, to replace only low mpg fleet vehicles, and if we started saving 15-20mpg per vehicle, you could oil consumption anywhere from 10-50 million barrells of oil yearly. Not a huge margin, but it ciuld be higher dep on the improvement in mileage.
Tandem that with some law to keep prices high for taxes to keep people and manufacturers from falling into the low mpg market again, we could easily wean ourselves significantly off foreign oil.
That would be devastating to opec, butif they simply embargo us then things would get real interesting. A game of who can last the longest with no oil or with no income.
.
Tandem that with some law to keep prices high for taxes to keep people and manufacturers from falling into the low mpg market again, we could easily wean ourselves significantly off foreign oil.
That would be devastating to opec, butif they simply embargo us then things would get real interesting. A game of who can last the longest with no oil or with no income.
.
Londo_Jowo
Lifer
I paid $3.15/gal (including $0.10/gal discount) yesterday afternoon. Still trending downward near my house.
http://www.houstongasprices.com/Shell_Gas_Stations/Sugar_Land/113096/index.aspx
http://www.houstongasprices.com/Shell_Gas_Stations/Sugar_Land/113096/index.aspx
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