Doppel
Lifer
- Feb 5, 2011
- 13,306
- 3
- 0
And now $92.60. I bet that really grinds your gears to see oil go down, mcowned.Oil rising fast
Crude Oil Apr 13 (CLJ13.NYM)
-NY Mercantile
93.030.97(1.05%) 12:06PM EDT
3-12-2013
http://finance.yahoo.com/q?s=clj13.nym
- Oct 30, 2000
- 42,589
- 5
- 0
Engineer
Elite Member
- Oct 9, 1999
- 39,230
- 701
- 126
Doppel
Lifer
- Feb 5, 2011
- 13,306
- 3
- 0
They've been on a fairly steady rise for many years with wild changes. We still have not hit the 2008 highs, mind you.
-----
For others, I know a lot of people say gas doesn't track oil very well, but if one plots out gas and oil prices back 8 years on gas buddy one finds they are married very closely. And if the time range is shrunk it's easy to see that in most cases gas chases oil with a relatively short window, not much different in its size when oil increases vs when it decreases.
Engineer
Elite Member
- Oct 9, 1999
- 39,230
- 701
- 126
true but we have hit all time highs for the time of year while at the same time sitting on 2 decade highs in production of oil and 2 decade lows on gas / oil usage.
Doppel
Lifer
- Feb 5, 2011
- 13,306
- 3
- 0
An alcoholic brewer and a teetotaler sell beer at the same price.
It's an international market and as the US drops marginally in demand the world picks up the slack.
There's really no great secret here. US-based companies exporting gasoline do so because they can make more money elsewhere. Similarly, Canada is one of the only developed nations that is a net exporter of energy. Why do they send oil south of the border when gasoline there is more expensive; why aren't they "dealing with their own house first"? Because those in command of the distribution economically benefit.
The "market" has changed since the Commodity Futures Modernization Act of 2000 - signed into law Dec 21 2000. Also,the world crude consumption rate was increasing much higher before 2000 and crude prices were much lower - and this was before the Bakken oil field boom.
2-21-2013
http://abcnews.go.com/GMA/video/gas-prices-rising-national-average-warning-18555164
$5 National Average Warning
Now, to a huge headline for everyone driving. Gas prices are skyrocketing so fast, there's new warnings about a possible $5 national average for a gallon of gas.
With prices this high this early in the year, analysts are wondering if 2013 will be the year of record-high pain at the pump.
California has the highest gas prices in the continental united states. Wyoming has the cheapest. With prices like these, it's no wonder drivers are nervous about what the rest of the year is going to look like.
http://abcnews.go.com/GMA/video/gas-prices-rising-national-average-warning-18555164
$5 National Average Warning
Now, to a huge headline for everyone driving. Gas prices are skyrocketing so fast, there's new warnings about a possible $5 national average for a gallon of gas.
With prices this high this early in the year, analysts are wondering if 2013 will be the year of record-high pain at the pump.
California has the highest gas prices in the continental united states. Wyoming has the cheapest. With prices like these, it's no wonder drivers are nervous about what the rest of the year is going to look like.
Looks like high Gas prices are Clinton's fault not Obama's:
3-9-2013
http://www.forbes.com/sites/johntharvey/2013/03/09/why-gas-prices-are-rising/
Why Gas Prices Are Rising
President Clinton having signed into law in December of 2000 the Commodity Futures Modernization Act, allowing (among other things) speculation in a market that had previously been dominated by actual end users of oil:
The law because it allowed financial market participants to treat oil futures as just another investment like Wal-Mart or Exxon stock, caused gas prices to become tightly linked to stock market prices. This means that every time the stock market rises, oil and gas prices get pulled up, too, and vice versa.
There is no logical reason for this! Gas prices should adjust because of a change in the forces driving the underlying supply of or demand for oil, not because stock prices are at a historic high.
On a deeper level, there is a self-fulfilling prophecy at work. The new law meant an influx of fresh money buying oil futures as a financial investment rather than as a means of locking in future prices (which is what actual users of oil had been doing). This meant an appreciation of oil futures prices. Then, those pumping oil out of the ground saw the higher futures prices and figured, why pump it out today when it will be worth more tomorrow? That caused current oil prices to rise, leading those who had bought the futures to say, Oh my God, I was rightthe prices ARE going up! Buy more! And so on. This needs to be fixed! The prices of goods and services should be determined by the actual forces of supply and demand in their market. This allows consumers and producers to make rational, informed decisions.
But linking gas prices so directly to stock market prices makes no more sense than linking the prices of hamburgers or movie theater tickets to the Dow Jones Industrial Average.
Until this link is broken, we will all see significant changes in our cost of living every time financial markets revalue stocks.
President Obama has mentioned correcting this problem on several occasions, but still no significant action has been taken. It needs to be, as we are all seeing at the gas pump right now!
Markets are not one-size-fits-all. They can be organized in ways that make our lives easier, or they can inject unnecessary uncertainty and irrationality. What we managed to do in December 2000 was the latter. We have enough problems as it is.
3-9-2013
http://www.forbes.com/sites/johntharvey/2013/03/09/why-gas-prices-are-rising/
Why Gas Prices Are Rising
President Clinton having signed into law in December of 2000 the Commodity Futures Modernization Act, allowing (among other things) speculation in a market that had previously been dominated by actual end users of oil:
The law because it allowed financial market participants to treat oil futures as just another investment like Wal-Mart or Exxon stock, caused gas prices to become tightly linked to stock market prices. This means that every time the stock market rises, oil and gas prices get pulled up, too, and vice versa.
There is no logical reason for this! Gas prices should adjust because of a change in the forces driving the underlying supply of or demand for oil, not because stock prices are at a historic high.
On a deeper level, there is a self-fulfilling prophecy at work. The new law meant an influx of fresh money buying oil futures as a financial investment rather than as a means of locking in future prices (which is what actual users of oil had been doing). This meant an appreciation of oil futures prices. Then, those pumping oil out of the ground saw the higher futures prices and figured, why pump it out today when it will be worth more tomorrow? That caused current oil prices to rise, leading those who had bought the futures to say, Oh my God, I was rightthe prices ARE going up! Buy more! And so on. This needs to be fixed! The prices of goods and services should be determined by the actual forces of supply and demand in their market. This allows consumers and producers to make rational, informed decisions.
But linking gas prices so directly to stock market prices makes no more sense than linking the prices of hamburgers or movie theater tickets to the Dow Jones Industrial Average.
Until this link is broken, we will all see significant changes in our cost of living every time financial markets revalue stocks.
President Obama has mentioned correcting this problem on several occasions, but still no significant action has been taken. It needs to be, as we are all seeing at the gas pump right now!
Markets are not one-size-fits-all. They can be organized in ways that make our lives easier, or they can inject unnecessary uncertainty and irrationality. What we managed to do in December 2000 was the latter. We have enough problems as it is.
3-12-2013
http://www.thenewstribune.com/2013/03/12/2510140/rising-gas-prices-put-tacoma-drivers.html
Rising gas prices put Tacoma drivers in a pinch
According to a AAA report released Monday, gas prices in Washington state have increased 25 cents over the past month to $3.81 per gallon. The Shell gas station at the intersection of Pacific Avenue and South 38th Street in Tacoma was well above that Tuesday morning at $3.91 a gallon for regular unleaded. The AAA report said the average price of gas in Tacoma is $3.88
http://www.thenewstribune.com/2013/03/12/2510140/rising-gas-prices-put-tacoma-drivers.html
Rising gas prices put Tacoma drivers in a pinch
According to a AAA report released Monday, gas prices in Washington state have increased 25 cents over the past month to $3.81 per gallon. The Shell gas station at the intersection of Pacific Avenue and South 38th Street in Tacoma was well above that Tuesday morning at $3.91 a gallon for regular unleaded. The AAA report said the average price of gas in Tacoma is $3.88
3-13-2013
http://finance.yahoo.com/news/oil-5...RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_ylv=3
Oil up for 5th day as traders await US supply data
Oil prices rose for a fifth straight trading session Wednesday despite expectations a report on weekly U.S. crude stocks will show ample inventories.
The Energy Information Administration's supply report will be out later Wednesday. Last week it said the nation's supply of crude was 10.3 percent above year-earlier levels. And U.S. oil production, at more than 7 million barrels a day, is at the highest level since the late 1990s.
http://finance.yahoo.com/news/oil-5...RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_ylv=3
Oil up for 5th day as traders await US supply data
Oil prices rose for a fifth straight trading session Wednesday despite expectations a report on weekly U.S. crude stocks will show ample inventories.
The Energy Information Administration's supply report will be out later Wednesday. Last week it said the nation's supply of crude was 10.3 percent above year-earlier levels. And U.S. oil production, at more than 7 million barrels a day, is at the highest level since the late 1990s.
Doppel
Lifer
- Feb 5, 2011
- 13,306
- 3
- 0
Doppel
Lifer
- Feb 5, 2011
- 13,306
- 3
- 0
Doppel
Lifer
- Feb 5, 2011
- 13,306
- 3
- 0
/spam
Mcowned, you really clutter this thread up with so many of your worthless links that really hold no meaningful information and nobody reads.
Closing in on $4.50 in Chicago
3-13-2013
http://wqad.com/traffic/gas-price-tracker/
Several stations at $4.39 and rising fast
3-13-2013
http://wqad.com/traffic/gas-price-tracker/
Several stations at $4.39 and rising fast
- Oct 30, 2000
- 42,589
- 5
- 0
Gas buddy shows most stations from $4.09 - > 4.29
A few "select are above that range - most on the near north.
Many other stations are well below $4.
Originally Posted by dmcowen674 
Closing in on $4.50 in Chicago
3-13-2013
http://wqad.com/traffic/gas-price-tracker/
Several stations at $4.39 and rising fast
and your point is?
Closing in on $4.50 in Chicago
3-13-2013
http://wqad.com/traffic/gas-price-tracker/
Several stations at $4.39 and rising fast
and your point is?
Londo_Jowo
Lifer
Londo_Jowo
Lifer
3-13-2013
http://www.reuters.com/article/2013...0313?feedType=RSS&feedName=marketsNews&rpc=43
Exxon sees N.American oil and gas output up 45 pct by 2040
Exxon Mobil Corp expects oil and natural gas production in North America to rise 45 percent over the three decades to 2040, boosted by output from U.S. shale formations, Canadian oil sands projects and the Gulf of Mexico.
Exxon and other global oil companies are increasing investment in North America, where reserves are easier to access and production is often cheaper.
The company sees U.S. energy consumption falling about 5 percent from 2010 to 2040, driven by efficiency gains in the transportation sector.
The combination of rising output and slowing demand should lead to North America becoming a net energy exporter by about 2025, Exxon said.
==================================================
Yet Americans will be paying higher than ever to subsidize the world at the hands of these Oil Thugs.
http://www.reuters.com/article/2013...0313?feedType=RSS&feedName=marketsNews&rpc=43
Exxon sees N.American oil and gas output up 45 pct by 2040
Exxon Mobil Corp expects oil and natural gas production in North America to rise 45 percent over the three decades to 2040, boosted by output from U.S. shale formations, Canadian oil sands projects and the Gulf of Mexico.
Exxon and other global oil companies are increasing investment in North America, where reserves are easier to access and production is often cheaper.
The company sees U.S. energy consumption falling about 5 percent from 2010 to 2040, driven by efficiency gains in the transportation sector.
The combination of rising output and slowing demand should lead to North America becoming a net energy exporter by about 2025, Exxon said.
==================================================
Yet Americans will be paying higher than ever to subsidize the world at the hands of these Oil Thugs.
More data from today reveals that led by Jowo and his lackeys, the Refineries are now running at 19% incompetent and reaping huge rewards for said incompetence.
3-13-2013
http://news.yahoo.com/us-crude-oil-supplies-grew-154419666.html
US crude oil supplies grew by 2.6 million barrels
Crude supplies rose by 2.6 million barrels, or 0.7 percent, to 384 million barrels, which is 10.5 percent above year-ago levels, the Energy Department's Energy Information Administration said in its weekly report.
Analysts expected an increase of 2.3 million barrels for the week ended March 8, according to Platts, the energy information arm of McGraw-Hill Cos.
Gasoline supplies shrank by 3.6 million barrels, or 1.6 percent, to 224.3 million barrels. That's 1.7 percent below year-ago levels. Analysts expected gasoline supplies to drop by 1.5 million barrels.
Demand for gasoline over the four weeks ended March 8 was 1.1 percent higher than a year earlier, averaging about 8.5 million barrels a day.
U.S. refineries ran at 81 percent of total capacity on average, down 1.2 percentage points from the prior week. Analysts expected capacity to be unchanged.
3-13-2013
http://news.yahoo.com/us-crude-oil-supplies-grew-154419666.html
US crude oil supplies grew by 2.6 million barrels
Crude supplies rose by 2.6 million barrels, or 0.7 percent, to 384 million barrels, which is 10.5 percent above year-ago levels, the Energy Department's Energy Information Administration said in its weekly report.
Analysts expected an increase of 2.3 million barrels for the week ended March 8, according to Platts, the energy information arm of McGraw-Hill Cos.
Gasoline supplies shrank by 3.6 million barrels, or 1.6 percent, to 224.3 million barrels. That's 1.7 percent below year-ago levels. Analysts expected gasoline supplies to drop by 1.5 million barrels.
Demand for gasoline over the four weeks ended March 8 was 1.1 percent higher than a year earlier, averaging about 8.5 million barrels a day.
U.S. refineries ran at 81 percent of total capacity on average, down 1.2 percentage points from the prior week. Analysts expected capacity to be unchanged.
Londo_Jowo
Lifer
Here's McOwned not realizing that 16% to 18% of the refineries are still offline for maintenance. None the less the company for whom I work is at 100% capacity field service workforce usage and more mechanics are needed. Our competitors are experiencing the same work load and need for more mechanics. Too bad parents told their children to go to college and are working for minimum wage right now when they could have learned to be an industrial mechanic that makes close to 3 times the minimum wage.
Yep
I know a Heavey duty Mechanic who owns his own shop.
Said he used to do farmers business and they needed each other 10 yrs ago.
Now, he almost exclusively does oilfeild work and can't find enough mechs to meet demand in the Baaken
I know a Heavey duty Mechanic who owns his own shop.
Said he used to do farmers business and they needed each other 10 yrs ago.
Now, he almost exclusively does oilfeild work and can't find enough mechs to meet demand in the Baaken
TRENDING THREADS
-
Discussion Zen 5 Speculation (EPYC Turin and Strix Point/Granite Ridge - Ryzen 9000)- Started by DisEnchantment
- Replies: 25K
-
Discussion Intel Meteor, Arrow, Lunar & Panther Lakes Discussion Threads
- Started by Tigerick
- Replies: 21K
-
Discussion Intel current and future Lakes & Rapids thread- Started by TheF34RChannel
- Replies: 23K
-
-
Facebook
Twitter