f1anatic Posted May 21, 2008 Share Posted May 21, 2008 At 2:15 PM gas was being traded at 133.33 a barrel on NYMEX At 2:45 PM gas was being traded at 13.70 a barrel http://www.bloomberg.com/energy/ refresh the page every few minutes for yourselves to see. It went thru 133:50 as well Link to comment Share on other sites More sharing options...
Jerboa113 Posted May 21, 2008 Share Posted May 21, 2008 grrr...... maybe the media should just stop reporting on it.. stop talking about how high it is and how a 14 year old mother with 300 kids is having to resort to eating used diapers because she cant afford to put gas in her 1962 plymouth anymore and how ACK-MY-DIN-IS-JADH doesn't like bush and obama wants to sleep with his wife or whatthehellever.. who the hell are these traders anyway? maybe the senate should pull them in and shake their fingers angrily at them like they do the oil ceos every time.. you know.. I'd hate to have the govt pull me aside and bitch me out every time I made a profit.. I'm not saying the oil execs live a middle class lifestyle, or that they should.. but I think this whole lecturing thing by the govt is just pandering to an angry mob without any real solutions.. the only people who even proposed anything was mccain and hillary to cut the fed. gas tax.. obama was quick to dismiss any tax CUTS.. god forbid the govt not get their share for even a few months.. "oh that wont do anything.." 100 pennies is a dollar obama... when people are putting $50 a week into a 4cyl every penny you can scrape off the top of that is gonna be that much less to worry about. we have got to drill.. screw this regulation nonsense.. its past time we started getting more of this stuff and its past time we started talking MORE about a VIABLE alternative rather than the media warmongering the american people into a frenzy with OMGRECORDHIGHSWTFBBQ!!11!1!one "The penalty good men pay for indifference to public affairs is to be ruled by evil men." - Plato Link to comment Share on other sites More sharing options...
f1anatic Posted May 21, 2008 Share Posted May 21, 2008 ymex Crude Future133.734.753.6815:23 Link to comment Share on other sites More sharing options...
05GT Guru Posted May 21, 2008 Share Posted May 21, 2008 Drilling is just a small fix(in alaska im assuming you mean), we need to overthrow the comanies and have the only profit they make go to paying the emloyees and keeping the business running the gas prices would probably drop damn near a full dollars if the big wigs were taking in any money. We also need to get alternative fuel then gas prices would drop hard and people with gas cars or toys would have a good ole time. Link to comment Share on other sites More sharing options...
Guest Posted May 21, 2008 Share Posted May 21, 2008 Its true almost every lender started offering mortgages that were made to fail basically. Countrywide is goin under, the largest mortgage company in the country probably the world. Lucky the mortgage company i work for didnt do that. We are actually the only company that i know of who stock isnt goin down. He was remember because for the first time in a long time america was spending as much money as it was making, the book was balanced, but he was makign dumb choise to keep it that way. And the econmy was only really good because he was riding reagans wave. They ay it takes around 10-15 years for a country to feel the economic wave a president creates well who was in office 10-15 years ago? Clinton Well, Bush and the banking cartel ran by Greenspan greatly contributed. The former by starting a crazy war, the second by pumping money like crazy and not only refraining from regulating credit markets, but actually deconstructing any regulation that was already in place. All this wasn't accidental. I just wonder what those f***ks were (are) thinking. Link to comment Share on other sites More sharing options...
05GT Guru Posted May 21, 2008 Share Posted May 21, 2008 Right now hes thinking, everyone hates me even 98% of the republicans hate him now, so hes like i will keep pumping money into this war. Im republican and i dont like him Link to comment Share on other sites More sharing options...
f1anatic Posted May 21, 2008 Share Posted May 21, 2008 133.84 Link to comment Share on other sites More sharing options...
HAMMER DOWN Posted May 21, 2008 Share Posted May 21, 2008 I just got this Email from my Amsoil Dealer. It talk about starting a good old Gas War. What do you people think. In my area Exxon\Mobil is the highest price gas in the 3 counties I travel threw. In my 100 mile round trip to work. Mike AMSOIL Regency Direct Jobber Peter Lotito 89 Owl Creek Road Spencer, NY 14883 Office 607-589-4242 Cell 607-481-1378 Check us out @ www.lubedealer.com/newyork THIS IS NOT THE 'DON'T BUY' GAS FOR ONE DAY, BUT IT WILL SHOW YOU HOW WE CAN GET GAS BACK DOWN TO $2.00 PER GALLON. It was sent by a retired Coca Cola executive , came from one of his engineer buddies who retired from Halliburton. If you are tired of the gas prices going up AND they will continue to rise this summer, take time to read this please. Phillip Hollsworth offered this good idea. This makes MUCH MORE SENSE than the 'don't buy gas on a certain day' campaign that was going around last April or May! It's worth your consideration. Join the resistance!!!! I hear we are going to hit close to $ 4.00 a gallon by summer and it might go higher!! Want gasoline prices to come down? We need to take some intelligent, united action. The oil companies just laughed at that because they knew we wouldn't continue to 'hurt' ourselves by refusing to buy gas. It was more of an inconvenience to us than it was a problem for them. BUT, whoever thought of this idea, has come up with a plan that can Really work. Please read on and join with us! By now you're probably thinking gasoline priced at about $2.00 is super cheap. Me too! It is currently $3.55 for regular unleaded in my town. Now that the oil companies and the OPEC nations have conditioned us to think that the cost of a gallon of gas is CHEAP at $1.50 - $1.75, we need to take aggressive action to teach them that BUYERS control the marketplace...not sellers. With the price of gasoline going up more each day, we consumers need to take action. The only way we are going to see the price of gas come down is if we hit someone in the pocketbook by not purchasing their gas! And, we can do that WITHOUT hurting ourselves. How? Since we all rely on our cars, we can't just stop buying gas. But we CAN have an impact on gas prices if we all act together to force a price war. Here's the idea: For the rest of this year, DON'T purchase ANY gasoline from the two biggest companies (which now are one),EXXON andMOBIL. If they are not selling any gas, they will be inclined to reduce their prices. If they reduce their prices, the other companies will have to follow suit. But to have an impact, we need to reach literally millions of Exxon and Mobil gas buyers. It's really simple to do! Now, don't wimp out on me at this point...keep reading and I'll explain how simple it is to reach millions of people!! I am sending this note to 30 people. If each of us send it to at least ten more (30 x 10 = 300) .. and those 300 send it to at least ten mor e (300 x10 = 3,000)...and so on, by the time the message reaches the sixth group of people, we will have reached over THREE MILLION consumers. If those three million get excited and pass this on to ten friends each, then 30 million people will have been contacted! If it goes one level further, you guessed it..... THREE HUNDRED MILLION PEOPLE!!! Again, all you have to do is send this to 10 people. That's all! (If you don't understand how we can reach 300 million and all you have to do is send this to 10 people.... Well, let's face it, you just aren't a mathematician. But I am . so trust me on this one. How long would all that take? If each of us sends this e-mail out to ten more people within one day of receipt, all 300 MILLION people could conceivably be contacted within the next 8 days!!! I'll bet you didn't think you and I had that much potential, did you! Acting together we can make a difference. If this makes sense to you, please pass this message on. I suggest that we not buy fromEXXON/MOBIL UNTIL THEY LOWER THEIR PRICES TO THE $2.00 RANGE AND KEEP THEM DOWN. THIS CAN REALLY WORK. Keep it going Mileage:331487 Retired/Sold Link to comment Share on other sites More sharing options...
93formula Posted May 21, 2008 Share Posted May 21, 2008 ^^^ Then the other oil companies will have a their demand curves shift right. Giving them a greater equilibrium price for their oil. Thus, making Exxon/Mobil's prices look cheaper in comparison and people will go back to buying from Exxon/Mobil. In other words those schemes can never work... ever! There are two ways to lower the price of oil over the next few years. 1. Open up as much drilling as possible in this country and offshore. 2. Encourage the Federal Reserve to raise the interest rates massively! The increase of oil prices has a very distinct relationship with the fall of the dollar since 2000. We are sitting at ~$1.56 per Euro, a little over a year ago it was in the $1.30s and in 03 it was in the $1.10 range. The dollar falling is because the Fed is printing too much money and making it too easy to get, simple economics overwhelming supply equals lower prices (in this case dollar's value decreases). Link to comment Share on other sites More sharing options...
Guest Posted May 21, 2008 Share Posted May 21, 2008 Exactly. Propping up the dollar is the only short term thing that could help. It's not just FED but also federal deficit. But this is two edged sword. Lower dollar helps exports, stems imports (except China). It's really mind boggling people are sending and posting this boycott Exxon and Mobil nonsense... Link to comment Share on other sites More sharing options...
f1anatic Posted May 21, 2008 Share Posted May 21, 2008 Nymex Crude Future134.02 4:32 pm chicago Nymex Crude Future134.13 4:45 pm Chicago Link to comment Share on other sites More sharing options...
Jerboa113 Posted May 21, 2008 Share Posted May 21, 2008 we need to overthrow the comanies and have the only profit they make go to paying the emloyees and keeping the business running you know that's what they're doing now right? They pay employees, they keep the business running.. where else do you think the money is going? Keeping the business running may be defined as wine and dine on saudi big wigs or leer jetting to other parts of the country, but its still a technicality. With all the finger pointing (a lot of which is misdirected) at the oil industry, if it becomes not profitable or unsustainablly attractive to job seekers.. the market will fall apart completley as companies fold more and more moving us towards a REAL oil monopoly. drilling is a small piece but as I said, 100 pennies is a dollar.. every little bit helps.. combine new oil sources with optimal refining capacity AND drop out govt oil taxation at all levels and gas could EASILY hit $2.00 a gallon and ease the strains. oh.. and the war has not caused this.. it may not have helped, but it has not caused this situation.. if anything, leaving china and india to their own devices in their coming of age into the pollution age that we live in now is a big factor.. we should regulate them in the form of aid in technological development to keep their shit clean.. we should stop bitching to ourselves that we're killing the earth and remind the rest of the world that china is polluting at a rate WAY off the scales.. if the international environment could put pressure on china to clean the hell up and optimize their consumption it may also ease the pains some. We are competing in the world market for oil with a severe handicap.. environmentalist wackos and the politicians who do their dirty work regulating the everliving snot out of us. Since this is a free country and we cant stop these people.. we need to level th eplaying field with pressure on china and india to regulate themselves like we do and have been doing. that letter about boycotting was so long.. blue..and annoying.. I stopped reading when it FINALLY got to the point.. its wrong.. we cant stop using gas..not yet.. wha twe CAN do is use less by driving smarter, telecommuting, carpooling, hell even public transit if you have that kind of thing. I for one have taken my foot out of it and its helped considerablly.. but my car only has a tolerance of about 1-2mpg with foot in and foot out (ya do the hokey pokey and you turn yourself around...) I keep seeing these rednecks around here with lifted trailer queen silverados stompoing the gas everey time they move.. it used to not bother me but now its like you wanna yell at them.. thanks for raising my prices because of your manhood compensator dude.. to finish my long rambling monologue, I must leave you with this.. we MUST avoid pointing fingers at private industry and we MUST try our damndest to keep the R word out of the conversation. (Regulation) taking the "there aught to be a law" attitude will only lead us all in the long term to a loss of freedoms by precident. Sure we get mad at the oil companies and unclesam steps in and makes some law.. next thing you know they will use the precident (I'm spelling that wrong ) to regulate other things.. NEVER forget the slippery slope.. when you have a big wet dog on your back porch that wants to come in, opening the door just a crack allows him to stick his nose in, then his head.. the next thing you know your carpet is TRASHED.. if you dont get this analogy.. you've never owned a dog.. or a big one like that. "The penalty good men pay for indifference to public affairs is to be ruled by evil men." - Plato Link to comment Share on other sites More sharing options...
05GT Guru Posted May 21, 2008 Share Posted May 21, 2008 Your silly, the price would go up whether that guy stomped the gas or not, you think they are really goin off demand these days your being ignorant, the price doesnt go up just because the cost of oil does, i mean that does play a key roll but there PROFITS also go up each year, which means more and more money is goin to profits not just to buy the oil Link to comment Share on other sites More sharing options...
Kargurra Posted May 21, 2008 Share Posted May 21, 2008 There are two ways to lower the price of oil over the next few years. 1. Open up as much drilling as possible in this country and offshore. 2. Encourage the Federal Reserve to raise the interest rates massively! You forgot the strongest factor in a market: Reduce demand. Make fewer and shorter trips (Plan your grocery shopping, electronics browsing and trips to autozone in the most efficient route possible, and all in the same trip,) take public transportation when possible, and take it easy on the gas pedal. (I know it's difficult, but just not romping on the pedal whenever I see open road can save me 3-4 mpg in around town driving.) When Chuck Norris was born, the only person who cried was the doctor. Never slap Chuck Norris. - E.J.S. Link to comment Share on other sites More sharing options...
05GT Guru Posted May 21, 2008 Share Posted May 21, 2008 America is fat time to start biking and jogging Link to comment Share on other sites More sharing options...
Jerboa113 Posted May 21, 2008 Share Posted May 21, 2008 demand is skewed in oil because its a necessary commodity, however supply and demand still apply. PROFIT and PROFIT MARGIN are what you need to look at, record profits with an equal profit MARGIN does not mean anything. Besides in a free market companies are allowed to charge what the market allows. 05gt guru, would you be in favor of a gas price ceiling imposed by the government? Do you know what happened when we tried that years ago? I mean its not clear to me at least what you're solution perspective is. if they impose regulations on what I can eat and how often I hve to exercise.. they will have to shoot me dead in a standoff. I'm not changing my eating or exercising habits one iota... whats interesting tho is you say that these people getting as low as 10mpg in these trucks doesn't mean anything, but americans being fat in their cars does? I'm not trying to attack or over-scrutinize your statements cos I hate it when people do that to me, I'm just trying to see your angle. "The penalty good men pay for indifference to public affairs is to be ruled by evil men." - Plato Link to comment Share on other sites More sharing options...
93formula Posted May 21, 2008 Share Posted May 21, 2008 You forgot the strongest factor in a market: Reduce demand. Make fewer and shorter trips (Plan your grocery shopping, electronics browsing and trips to autozone in the most efficient route possible, and all in the same trip,) take public transportation when possible, and take it easy on the gas pedal. (I know it's difficult, but just not romping on the pedal whenever I see open road can save me 3-4 mpg in around town driving.) The global demand isn't going down in the near future. China and India are just starting to get going with their automotive future. Oil is a global commodity and any that isn't used in the US will be used elsewhere. Plus, the average citizen in the US will just complain about prices and then proceed to fill their hummer up. Curbing demand will just reduce the impact of the high oil prices on the average consumer. We can even see this now as demand is dropping here in the US, and prices are still going up. Link to comment Share on other sites More sharing options...
Kargurra Posted May 22, 2008 Share Posted May 22, 2008 Regardless, it'll cost you less by using less... When Chuck Norris was born, the only person who cried was the doctor. Never slap Chuck Norris. - E.J.S. Link to comment Share on other sites More sharing options...
HAMMER DOWN Posted May 22, 2008 Share Posted May 22, 2008 Exactly. Propping up the dollar is the only short term thing that could help. It's not just FED but also federal deficit. But this is two edged sword. Lower dollar helps exports, stems imports (except China). It's really mind boggling people are sending and posting this boycott Exxon and Mobil nonsense... Not really, for one the boycott is just temp. so they will lower price to compete for our business. And around here Exxon/Mobil is $0.10 to $0.25 higher then any other gas station around. That in it self makes them a good target for this. I want no new regulations on Big oil, they, on avg. .5% to 1% higher profit. Then other big business. Just want them to compete for my business that all. Mike Mileage:331487 Retired/Sold Link to comment Share on other sites More sharing options...
tdoggydog Posted May 22, 2008 Share Posted May 22, 2008 Darkfox, I know we've spoken about this already, but I just don't agree with your philosophy of "don't talk about it". Skyrocketing crude is a threat to the economy - it has a significant role in the lives of Americans and it is indeed newsworthy. Link to comment Share on other sites More sharing options...
GeorgeB Posted May 22, 2008 Share Posted May 22, 2008 in europe the price is 7.4 usd / gallon so still a long way to go for us market to "compete" with eu market Link to comment Share on other sites More sharing options...
Jerboa113 Posted May 22, 2008 Share Posted May 22, 2008 Darkfox, I know we've spoken about this already, but I just don't agree with your philosophy of "don't talk about it". Skyrocketing crude is a threat to the economy - it has a significant role in the lives of Americans and it is indeed newsworthy. well, I agree its certainly something everyone should be aware of. I just think that its bad for us when you consider the panic factor. Case in point (and the reason I made the original case about not mentioning it as much if at all in media..) about 2-3 years ago now a talk radio announcer in my home town of augusta made a comment that there was a supply issue with gas, and that prices may climb a little or we might even have SOME stations go dry for about a day.. well, the news spread by word of mouth until it became "you'd better hurry and get gas now cos we're not going to have any." Within 4 hours ALL the stations in my area were completley out of gas at all octane levels because people rushed in with their suburbans and filled them up, truck owners with dual tanks filled them both, some people even came in with large drums int he bed of their trucks and filled those as well. The panic factor caused the very thing that people were afraid of. This is something I thought about a few years ago since I'm a nerd/tinkerer, I decided it was too costly and would wind up junking up the yard with antoher derelict vehicle, but.. there are a growing number of online resources much like the carputer industry for private conversions of vehicles into EVs. http://www.evadc.org/build_an_ev.html that's just one of many websites on the subject, just like the carputer industry I think as the prices continue to climb this sort of thing may become more and more popular for the short run commuter. it seemed this morning there was an extra amount of cars on the road, and people were driving like maniacs.. maybe someone else is paying for their gas? I granny foot everywhere now.. unless someone makes me mad. "The penalty good men pay for indifference to public affairs is to be ruled by evil men." - Plato Link to comment Share on other sites More sharing options...
f1anatic Posted May 22, 2008 Share Posted May 22, 2008 but George...prices will go up for you as well ! Unless you strike a special deal with OPEC countries and have honest people involved. Link to comment Share on other sites More sharing options...
LGTLuver Posted May 22, 2008 Share Posted May 22, 2008 My breaking point was last week and I de-tuned my car to factory specs for the extra $$$ saved on gas. I now basically get 2mpg better. Hopefully prices will stabilize as we sue the hell out of OPEC and perhaps put a little pressure on S. Arabia... Link to comment Share on other sites More sharing options...
Jerboa113 Posted May 22, 2008 Share Posted May 22, 2008 what right do we have to sue opec? they're not a us based company, (they're not REALLY a company at all) the owners arent us citizens.. where does our law apply to them? piss them off and they might REALLY cut back production. Thats such needless legislation its outright ridiculous. Here we are at a near crisis level situation and all the govt wants to do is complain at CEOs that some people cant afford gas and then sue people who dont even live in our country. the us suing opec is the equivalent of muslim nations in the middle east suing america for letting women walk around without escorts or go to school. Their laws dont apply here, ours dont there.. the only way we can make our laws apply is if we have some sort of international treaty (which may be the flaw in my argument I admit.) or if we go to war, overthrow their leaders and setup a govt of cowards who wont take care of themselves burying us in that nation for 100 years to protect them from the chaos we technically caused. wow.. thats a bit of a tangent there. "The penalty good men pay for indifference to public affairs is to be ruled by evil men." - Plato Link to comment Share on other sites More sharing options...
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