$100 oil ?

[Tractorat]

Ha, I just heard some idiot on the news talking about the possiblity of $100 oil, and that it would be cheap.



Thats the kind of mentality that will keep oil and gas/diesel prices high, even if the speculators and the Saudis and Venezuela, etc cant keep it up there.

 

[JDiepstra]

You can count on less than $100 oil. However, I don't think that is cheap. Let's see it back to $70 or so and I'll be happier. The reason I feel it will keep going down is that all of these speculator a-holes are now seeing that they are screwed, and they are all going to be getting out of their positions.

 

[Vaughn MacKenzie]

I hope it keeps falling, with the slowing economy and some Iraqi oil coming back online I think the outlook is a lot better than it was for a long time. Now that China is doing a deal for Iraqi oil it should mean they're buying a little less from elsewhere. And they were saying on the news China's economy is cooling off too.



Now if we could see pump prices reflect what the crude market is doing, this $4. 55 diesel around here is getting old #@$%!

 

[RGardner]

Noticed how the T Boone Pickens of the world are saying that OPEC will cut production to defend the $100 mark? Guess what side of the equation he is on!

 

[BarryG]

I also saw a similar report. One thing they mentioned was that last year when oil hit the 115 a bbl price gas was still just under 3. 00 gallon compared to the average we have today which at least here is approx 3. 71. The oil companies said it is because they are selling gas made from more expensive oil they have already purchased. Which is fine, but why is it when oil goes up the price of gas/diesel goes up immediately when they are using oil stock that was cheaper(at least using their current argument for higher fuel prices). I know same old tired complaints.



They went on to say that if we were lucky and oil got down to 100 a bbl gas would be about 3. 05 by the end of the year. Diesel here had dropped some but this week has gone up 20 cents from what it was last week. Just seems like some inconsistences in their stories, the oil companies stories that is.

 

[RGardner]

Those price increases were due to the scare of hurricane Gustov. And they say there is no speculation!

 

[Tractorat]

You know, nothing is going to happen unless we all march on congress and make a bigger stink than ever happened during the vietnam war. And you know that isnt going to happen.



Its not that congress can just pass some bill to lower prices, but they are the only ones that have any power to stop the speculators, bring any kind of pressure on the saudis etc. And when I say pressure on the saudis, I mean whatever force it takes to stop them from bleeding us dry that is short of killing them all and just taking the oil.

 

[MEby]

Ha, I just heard some idiot on the news talking about the possiblity of $100 oil, and that it would be cheap.

We are getting close. Down to $104. a barrel.



Your right, cheap is relative. My dad made $5 bucks an hour in the late 70's. In context, he's right. $100. is cheap compared to what it was, but not cheap compared to 6 years ago.

 

[RGardner]

It is not cheap compared to 2 years ago!

 

[AABEN]

Well it is at 103. 26 to day down 3. 08 from monday. Lets HOPE

 

[DHayden]

Well I saw OPEC voted to cut production by 500,000 barrels a day to keep prices up. This cut was driven by Russia, Iran and Venezuela... Saudi actually was against the cut to keep western demand from falling. Prices at the pump are still far to high for the price of oil its ridiculous.

Someone explain to me how a station is selling diesel for $4. 05 and down the road its $4. 59? Has been for 2 weeks now... some people need to be investigated.

 

[GHarman]

Not only that! Bio-Diesel is $0. 50 higher than #2#@$%!. The price of P. C. ness. GregH

 

[JDiepstra]

Well, oil was just below $100 today (on some market, I forget which one), like I predicted earlier in this thread. So what do the S. O. B. 's of OPEC do? CUT PRODUCTION to raise the price back up!!!!!!!!!!! AAAAAHHHHHHHHHHH!!!!!!

 

[Tractorat]

We backed the wrong country in the Gulf war back in 92

 

[JDiepstra]

We backed the wrong country in the Gulf war back in 92

Heck I was in Junior High then, and am embarassed to say I don't even remember who we were "helping"!

 

[MEby]

Someone explain to me how a station is selling diesel for $4. 05 and down the road its $4. 59? Has been for 2 weeks now... some people need to be investigated.

imo,

I think sometimes they get stuck. If the prices fall dramically right after they purchase a tanker full and the station down the road buys right after the drop in prices, theres not much they can do. Who wants to take a . 50 cent a gallon hit on 5000 gallons?