Drew Dowdell

Fuel/Oil market prices

66 posts in this topic

Spin off from another thread. I'll update material swings in price.

Something that will probably make the news today:

The spot price for oil just fell over $4.80 a barrel to be under $120. Currently sitting at $118.58.

RBOB Gasoline is down 11 cents a gallon to $2.97.

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Still hoping for $2.50 by next year.

you know what they say.... hope springs eternal :P

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election is coming up, duh. the people profiting from high gas prices found big resistance and pressure from forces when it went north of 3.50. they were reminded not to bite the hand of the american public that feeds. they were reminded that all sorts of legislation would be put in place to end their gravy train if they didnt do it themselves. who's gonna buy a car to use the gas they sell when the price is too high. so gas will drop....and cheney and bush and their buddies will still have plenty of time to make out like bandits before they go.

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My original desire to go to Europe because it sounded like a fun and interesting thing to do is turning into a move of financial asylum.

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Sounds like we're heading for another depression.

You might read the book "generation debt."

Things are going to really suck for your generation, DF.

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My original desire to go to Europe because it sounded like a fun and interesting thing to do is turning into a move of financial asylum.

For those of us with families to take care of here, there is almost nowhere to run away to and "hide"

Chris

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I don't know, I think Europe is headed down our path soon. There are already growing fears of a recession there too.

The next couple years, I think we are going to reassess our reliance on the global economy. As shipping costs continue to rise, factories overseas will be shut down and work will move back to North America. Wal-Mart has slowly been pulling back on Chinese-made products, and more companies are re-opening plants in Mexico.

China has been building away like the US did at the turn of the century, but they are so reliant on the world markets for their industry and economy that they are going to feel even more pain than ourselves, IMO. China and India have not yet developed enough of a middle-class to sustain themselves if the Western markets collapse; as long as transportation costs continue to rise, the booming economies of the East will suffer with us, probably even moreso.

Edited by mustang84
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another part of the lessening of gas $ are that the companies are reinvesting their huge profits into the refineries.

a Governor candidate in missouri's primary would like to have a refinery in missouri... she's an educated economist but has been in Jeff City for something like 15 years. she's the treasurer right now. sadly the polls are against her to make it past the primary. she also wants to reduce the state's budget by $200-300 million.

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I don't know, I think Europe is headed down our path soon. There are already growing fears of a recession there too.

The next couple years, I think we are going to reassess our reliance on the global economy. As shipping costs continue to rise, factories overseas will be shut down and work will move back to North America. Wal-Mart has slowly been pulling back on Chinese-made products, and more companies are re-opening plants in Mexico.

China has been building away like the US did at the turn of the century, but they are so reliant on the world markets for their industry and economy that they are going to feel even more pain than ourselves, IMO. China and India have not yet developed enough of a middle-class to sustain themselves if the Western markets collapse; as long as transportation costs continue to rise, the booming economies of the East will suffer with us, probably even moreso.

There might be a recession in Europe but not nearly as bad as what will happen here. England and Ireland are in for a walloping, but Germany with their fiscally conservative habits <it's sort of culturally ingrained to not use credit cards>, will probably weather it relatively easily. The U.S. will suffer because of it's gasoline/automotive based infrastructure and high fuel costs. Europe can at least turn to the rails if automobile use becomes too expensive. Even AirFrance trying to combat high jet fuel costs by buying railroad companies in order to offer alternative <cheaper> service to their customers.

In one of the biggest, most blatant shifts of wealth to the rich ever constructed, the federal government is now going to bail out private investors <rich people and hedge funds> with taxpayer dollars. Somehow we all seem to be ok with that.

I feel like I'm getting out of here in the nick of time and to the safest <financially> place I can think of that has friendly faces.

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another part of the lessening of gas $ are that the companies are reinvesting their huge profits into the refineries.

a Governor candidate in missouri's primary would like to have a refinery in missouri... she's an educated economist but has been in Jeff City for something like 15 years. she's the treasurer right now. sadly the polls are against her to make it past the primary. she also wants to reduce the state's budget by $200-300 million.

Saudi Arabia has not been able to maintain it's previous oil production levels.

Russia has not been able to maintain it's previous oil production levels and has reduced it's shipments to Czhek republic by 50%

Venezuela has not been able to maintain it's previous oil production levels.

Mexico has not been able to maintain it's previous oil production level and will switch from net exporter to net importer by 2015

Indonesia and Malaysia have not been able to maintain their previous production level and have already switched from net exporter to net importer.

The gas companies have been granted permits and full access to build a few new refineries already...... ever get the feeling they don't want to because they know something about where future oil production will be by the time the refinery is built?

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The only thing I can tell you is in the next five years, things are going to get very ugly in this U.S....

We are going to take a beating bad, including the war in Iraq....

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Iraq has noting to do with this... it's negligible.

Remember how some people used to dismiss the fact that the U.S. was deindustrializing? Remember how some people used to praise the so- called "service economy"? They would say things like, "The U.S. capital markets are the most efficient in the world."

To which we now reply, "Oh, really?"

Like I've said a MILLION times....

You CAN NOT OUTSOURCE YOUR G.D.P.!!!!

How many times I got into masice arguments with my college professors

and in the end they could not answer my question to full satisfaction:

Are we all going to deliver pizza, work at the car wash & bag groceries?

Cause that is the "service economy" reality....

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In one of the biggest, most blatant shifts of wealth to the rich ever constructed, the federal government is now going to bail out private investors <rich people and hedge funds> with taxpayer dollars. Somehow we all seem to be ok with that.

This shows just how badly the government, esopecially the current administration, runs our country, and how bad our economic situation is going to get.

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This shows just how badly the government, esopecially the current administration, runs our country, and how bad our economic situation is going to get.

and the main party's "elected" candidates.... i've heard neither have over 45%. i think alot of people are thinking they're gong to hold their nose and vote.. and that is still not going to help us.

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While pressure in the commodity markets has reduced the level of spending, nothing has done more to curb American appetite for stuff than overladden use of credit. Credit, not energy, is the real issue that faces America. If you don't have you can't have it. America just isn't used to hearing NO anymore! (Which spills over into a lot of other things too.)

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I've been hearing more and more that the old white knight Alan Greenspan is much to blame for starting the credit crisis when he crashed rates down to 1.00%.

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I've been hearing more and more that the old white knight Alan Greenspan is much to blame for starting the credit crisis when he crashed rates down to 1.00%.

not so much starting it as enabling it.

No, starting it was when you started seeing those ads for "Borrow up to 125% of the value of your home!" and "Get a mortgage for $300,000! No proof of employment required!" and "Put no money down and pay only when it's comfortable for you!"

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