Gas Prices

[The Other Side]

OIL getting crushed today on the commodities market. Down 3% in trading. Oil below 50 bucks once again on oversupply.

I guess that ICE has nothing to do with pricing, eh?

Oil companies scrambling to shut off more wells.

What I find ridiculous, is the the fact that in the early 1900's, the richest men in the world were created with $5.00 a barrel oil and for near 80 years they made BILLIONS upon billions of dollars at 5 bucks a barrel, yet today, these oil barons want to convince and some have been convinced that they cant exist with 50 dollar a barrel oil.

Its a ridiculous proposition.

When did americans become so gulible?

There are plenty of people on this board defending the oil companies actions and then explaining they dont have enough profits. They disregard the outrageous salaries and bonuses the oil barons make which make up the high prices of oil.

Oil is still where it should be, on the way down. It shouldnt be over 35 dollars a barrel.

Pipelines and such will have no effect on pricing as long as the oil companies continue to shut off wells.

TOS.

 

[Babagounj]

Price went up 5 cents since Friday .
Around $2.239 now .
If demand is low and supply is overflowing , why the increases ?
Oh, I know because the overflowing supply does not take in to account that there are numerous different blends required by each region .
Time for a national blend .
You know one size fits all .

 

[rod]

Great lakes frozen.
East coast ports frozen .
But there is still a surplus , somewhere .

My septic system is frozen

 

[moreluck]

$2.89 at my Valero

 

[oldngray]

It was $2.26 here over the weekend.

 

[beentheredonethat]

OIL getting crushed today on the commodities market. Down 3% in trading. Oil below 50 bucks once again on oversupply.

I guess that ICE has nothing to do with pricing, eh?

Oil companies scrambling to shut off more wells.

What I find ridiculous, is the the fact that in the early 1900's, the richest men in the world were created with $5.00 a barrel oil and for near 80 years they made BILLIONS upon billions of dollars at 5 bucks a barrel, yet today, these oil barons want to convince and some have been convinced that they cant exist with 50 dollar a barrel oil.

Its a ridiculous proposition.

When did americans become so gulible?

There are plenty of people on this board defending the oil companies actions and then explaining they dont have enough profits. They disregard the outrageous salaries and bonuses the oil barons make which make up the high prices of oil.

Oil is still where it should be, on the way down. It shouldnt be over 35 dollars a barrel.

Pipelines and such will have no effect on pricing as long as the oil companies continue to shut off wells.

TOS.

Per the government's cpi calculator, 5 dollars in 1913 is the same purchasing power as 119.56 dollars in 2014. So using an argument that oil was $5 in the early 1900s meaning $50 now is plenty is a poor argument.

Also keep in mind that in the early 1900s they went after the easy to get oil. They weren't drilling in the ocean or in the Arctic circle etc. There's a lot more costs to get oil now. Also franking requires more raw material to pump into the wells to get the oil out.

 

[Babagounj]

$2.89 at my Valero

Better keep that Prius' tank full.
West Coast refineries are on strike .

 

[moreluck]

Better keep that Prius' tank full.
West Coast refineries are on strike .

I wouldn't own a prius if they paid me to drive one.

 

[Babagounj]

Honestly my mistake .
For what I hear from real prius owners is that all that weight from the batteries gives them excellent traction in the snow , who knew .

 

[wayfair]

$1.99 here

 

[beentheredonethat]

I have three siblings and a niece who own prius. They love them. I've been in a few and they give a nice ride.

 

[ImWaitingForTheDay]

I wouldn't own a prius if they paid me to drive one.

How about a chevy VOLT?????

 

[moreluck]

How about a chevy VOLT?????

NEVER !!!!!

 

[Babagounj]

ugly car .

 

[Morsi]

Ironically, the drop in oil prices is actually having a negative effect on alternative transportation

http://www.institutionalinvestor.co...aves-renewable-energy-shaken-but-unbowed.html

 

[Brownslave688]

ya BB, it has to be the winter storms and not the FACT that the USA oil producers have CAPPED OFF 50% of the active wells in the last three months. I am sure it has nothing to do with that.

The USA producers are doing everything possible to get prices to rise, from not negotiating with workers and causing a strike, to Freak train derailments of oil containers, to the mysterious explosion here in so cal.

There is still a 4 million barrel a day surplus floating around this country that needs to be burned off so prices can once again reach the 90 dollar a barrel mark and 4.00 a gallon.

Please dont make excuses for the oil companies.

TOS.

This isn't rocket science. Prices have went up for 2 reasons.

Strikes at refineries and the fact that we are now switching over to spring/summer fuel blends.

 

[The Other Side]

This isn't rocket science. Prices have went up for 2 reasons.

Strikes at refineries and the fact that we are now switching over to spring/summer fuel blends.

Ya slave, thats it. Summer blends.

Not the capping of 50% of the wells driving down inventories.. Ya, thats how oil works.

TOS.

 

[Brownslave688]

Ya slave, thats it. Summer blends.

Not the capping of 50% of the wells driving down inventories.. Ya, thats how oil works.

TOS.

You just posted Monday that oil was down on surplus again. You're really slipping.

Also we could have 1 billion barrel surplus and it wouldn't matter if refineries were choking supply. That's how gas prices work. Oil prices effect gas prices but more indirectly than directly.

 

[Catatonic]

I paid $292 a gallon yesterday ... it was for No Ethanol gasoline.

 

[Brownslave688]

I paid $292 a gallon yesterday ... it was for No Ethanol gasoline.

What all gas should be ugh.

Just pisses me off that ethanol is like $4 a gallon or more to produce and corn ethanol is the least efficient there is but go ahead lets jack up food and land prices and subsidize it.