OK - Boy do the Oil Guys have it made.....

[hammersley]

Can we get a group buy on 55 gallon drums of vasoline for the you know what that is about to happen to us again!



http://www.nytimes.com/2005/01/19/business/19oil.html

 

[DJennings]

It looks like you can lay off the Vaseline for a while. Crude Oil prices came down today after a US report was issued. The long term forecast for fuel prices is actually looking pretty good, but is all based on which sources you are willing to believe. Some are saying that after the elections in IRAQ, and as all their oil production facilities come back on line, oil prices will drop. They are also pointing out that Oil consumption globally will increase about 1. 7% in 2005 vs 3. 3% in 2004 that was caused by a huge demand spike in China.



I am just regurgitating what I have read recently, so please don't freak out on me and I'm not trying to start a political discussion about our reasons for being in Iraq. I like my cup half full, so I am hoping for the best!

 

[FATCAT]

Well, I can't read the article unless I register with the NY Times. But, all I have to say is ... ITS A NY TIMES STORY ... how can anyone in their right mind believe anything that rag prints!!!!! Basically, what ever they print, the opposite is true.

 

[DJennings]

You don't have to "pay to play", but for whatever reason NY Times wants you to sign in. Just answer a few questions and you can see the article. Basically, it was written a few days ago as oil prices were on the rise again. I have noticed gas going up here, but only a few stations have raised diesel. I filled at $1. 94 but saw it at $2. 05.



There was some "official report" issued today which caused about a 5% drop in oil prices. They were sniffing $50 a barrel on Tuesday, but they are down to about $46 a barrel today I think.



June -- $1. 50 a gallon... .