Oil below 130

[AlienCraft]

Originally posted by: Capt Caveman

Originally posted by: Cogman
And yet I still haven't seen gas prices drop. No doubt if it goes up by 5 dollars Ill see the prices spike up from their current position.

That always takes time. Unfortunately, when the price goes up for oil, gas prices go up immediately.

Get real. Prices for gasoline have been benchmarked at $4.xx / ga and it'll never go down below that. EVER
Without increased refining capability, they (Big Oil) can continue to cry"wolf" in terms of supply.
They could build new refineries with all those profits they have, but they won't because it's easier to bottleneck that way.

 

[AlienCraft]

Originally posted by: jpeyton
I bet everyone here gas will stay above $4/gallon even with oil dropping.

:thumbsup:
Now that they have "conditioned" the consumer and determined that above $4.50, they lose customers, they will continue to string us along at this , draining every last discretionary dollar left.
Until wages rise, no one is going anywhere,fast.

 

[tranceport]

Originally posted by: AlienCraft

Originally posted by: jpeyton
I bet everyone here gas will stay above $4/gallon even with oil dropping.

:thumbsup:
Now that they have "conditioned" the consumer and determined that above $4.50, they lose customers, they will continue to string us along at this , draining every last discretionary dollar left.
Until wages rise, no one is going anywhere,fast.

I second this and I work in O&G. Not for big oil though

 

[Capt Caveman]

Originally posted by: AlienCraft

Originally posted by: Capt Caveman

Originally posted by: Cogman
And yet I still haven't seen gas prices drop. No doubt if it goes up by 5 dollars Ill see the prices spike up from their current position.

That always takes time. Unfortunately, when the price goes up for oil, gas prices go up immediately.

Get real. Prices for gasoline have been benchmarked at $4.xx / ga and it'll never go down below that. EVER
Without increased refining capability, they (Big Oil) can continue to cry"wolf" in terms of supply.
They could build new refineries with all those profits they have, but they won't because it's easier to bottleneck that way.

Well, gas prices are already down this week in MA.
Mass. gas prices drop for 1st time in 4 months

 

[JS80]

MEXICO SELLING THEIR OIL FOR NEXT SEVERAL YEARS AT THESE PRICES

This should shake it up.

 

[LegendKiller]

Originally posted by: Cogman
And yet I still haven't seen gas prices drop. No doubt if it goes up by 5 dollars Ill see the prices spike up from their current position.

the prices that are dropping now are for oil to be delivered months from now. The oil being delivered now was bought months ago.

 

[LegendKiller]

Originally posted by: jpeyton
I bet everyone here gas will stay above $4/gallon even with oil dropping.

How much are you willing to bet? I'll put down $100, paypal.

 

[PingSpike]

I can buy regular for 3.97/gal right now. I could get it for 3.99/gal as of tuesday I believe.

 

[jman19]

Originally posted by: LegendKiller

Originally posted by: jpeyton
I bet everyone here gas will stay above $4/gallon even with oil dropping.

How much are you willing to bet? I'll put down $100, paypal.

Hmm, this should be interesting

 

[JS80]

Originally posted by: LegendKiller

Originally posted by: jpeyton
I bet everyone here gas will stay above $4/gallon even with oil dropping.

How much are you willing to bet? I'll put down $100, paypal.

in for $100.

 

[l0cke]

Can we get it down to $1.30 bbl now?

 

[Slew Foot]

Id be in for 100 paypal that avg gas in the US goes under 4.00 by November. Anyone care to go against?

 

[LegendKiller]

Originally posted by: Slew Foot
Id be in for 100 paypal that avg gas in the US goes under 4.00 by November. Anyone care to go against?

I'll peg it under 4.00 by October. I'll put oil under 100 by EOY.

Anybody willing to put their money where their mouth is?

I've said all along this is one of the biggest bubble scams in the history of humanity.

 

[sportage]

$130? OMG... :shocked:
Lets ALL go out and buy a GM gas hog SUV!!!!
I'll drive.

We all can now just forget about conservation :roll:

 

[bctbct]

Quick, dump the SPR before big oil re-groups

 

[summit]

i just bought my dodge ram 2500 today. so sweet. going to put a lift kit and some 22 inch rims.

 

[JS80]

Originally posted by: LegendKiller

Originally posted by: Slew Foot
Id be in for 100 paypal that avg gas in the US goes under 4.00 by November. Anyone care to go against?

I'll peg it under 4.00 by October. I'll put oil under 100 by EOY.

Anybody willing to put their money where their mouth is?

I've said all along this is one of the biggest bubble scams in the history of humanity.

What data source are we using for avg gas price? Oil price is for current month futures touching 100? 10 day average? Let's get down and dirty with terms!

 

[SparkyJJO]

If oil dropped, why did the price of gas go up today :frown:

 

[BigJ]

Originally posted by: SparkyJJO
If oil dropped, why did the price of gas go up today :frown:

It doesn't work like that

Read the thread.

 

[IHateMyJob2004]

Read everything Jim Rogrs has to say. The commodity bull is probably not over yet.

 

[jman19]

Originally posted by: darkxshade
It's the next bubble I tell ya.

OMG YOU'RE THE FIRST PERSON TO SAY THAT!!!!11

 

[Special K]

Originally posted by: LegendKiller

Originally posted by: Slew Foot
Id be in for 100 paypal that avg gas in the US goes under 4.00 by November. Anyone care to go against?

I'll peg it under 4.00 by October. I'll put oil under 100 by EOY.

Anybody willing to put their money where their mouth is?

I've said all along this is one of the biggest bubble scams in the history of humanity.

If it pops by the end of the year, that would make it one of the shortest-lived bubbles, wouldn't it? Both the real estate and .com booms lasted for several years. I'm not saying that necessarily has any bearing on what is happening now, only that I figured a bubble would last longer than that.

If oil pops by the end of the year, does that mean the so-called "global pool of money" will be forced to create another speculative bubble at the end of the year? I wonder what it will be this time. Maybe they will run back to tulip bulbs

 

[ShotgunSteven]

Originally posted by: EGGO

Originally posted by: Pocatello
The price is higher than the people are willing to pay, so demand should go down, and supply should increase. Now the Iranians are going photoshop more rockets to keep the price of oil up.

fixed

The Iranians shouldn't have had someone from 4Chan PhotoChop the rockets. The LOLcat in the picture was a dead giveaway.

 

[LegendKiller]

Originally posted by: Special K

Originally posted by: LegendKiller

Originally posted by: Slew Foot
Id be in for 100 paypal that avg gas in the US goes under 4.00 by November. Anyone care to go against?

I'll peg it under 4.00 by October. I'll put oil under 100 by EOY.

Anybody willing to put their money where their mouth is?

I've said all along this is one of the biggest bubble scams in the history of humanity.

If it pops by the end of the year, that would make it one of the shortest-lived bubbles, wouldn't it? Both the real estate and .com booms lasted for several years. I'm not saying that necessarily has any bearing on what is happening now, only that I figured a bubble would last longer than that.

If oil pops by the end of the year, does that mean the so-called "global pool of money" will be forced to create another speculative bubble at the end of the year? I wonder what it will be this time. Maybe they will run back to tulip bulbs

Shortest? Hardly. It'll sustain itself as long as people think it's acceptable to be affected by it, or something changes to really threaten the long speculators.

I am sure they'll move to something else. The new one will probably be distressed asset backed debt.

 

[Special K]

Originally posted by: LegendKiller

Originally posted by: Special K

Originally posted by: LegendKiller

Originally posted by: Slew Foot
Id be in for 100 paypal that avg gas in the US goes under 4.00 by November. Anyone care to go against?

I'll peg it under 4.00 by October. I'll put oil under 100 by EOY.

Anybody willing to put their money where their mouth is?

I've said all along this is one of the biggest bubble scams in the history of humanity.

If it pops by the end of the year, that would make it one of the shortest-lived bubbles, wouldn't it? Both the real estate and .com booms lasted for several years. I'm not saying that necessarily has any bearing on what is happening now, only that I figured a bubble would last longer than that.

If oil pops by the end of the year, does that mean the so-called "global pool of money" will be forced to create another speculative bubble at the end of the year? I wonder what it will be this time. Maybe they will run back to tulip bulbs

Shortest? Hardly. It'll sustain itself as long as people think it's acceptable to be affected by it, or something changes to really threaten the long speculators.

I am sure they'll move to something else. The new one will probably be distressed asset backed debt.

Has there always been a bubble throughout history? Oil prices really started to take off last August, right around the time real estate started to tank. Real estate started to take off shortly after the .com bubble burst. What was the hot bubble before .com's?

Would we even have recessions if not for all these speculative bubbles? I guess you really can't control events like 9/11, but it seems like a bubble of some kind has been at the center of the last 2 economic slowdowns/recessions. I wonder if a slow and steady growth rate could be sustained if not for speculative bubbles.