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Dave
Supporter
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Posted: Tue Sep 2nd, 2008 10:24 am |
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I stand corrected...
Tuesday, September 02, 2008
Light Sweet Crude Below $109 a Barrel In Electronic Trading
LONDON -- October light sweet crude futures traded down $6.89 at $108.58 a barrel in electronic trading on Tuesday, extending losses from Monday. The contract hasn't traded traded below $109 a barrel since April. Analysts at MF Global called the move a relief retreat on the back of news that Hurricane Gustav didn't generate as much damage as expected in the Gulf of Mexico. "It was touch and go for a while," they said.
http://www.foxbusiness.com/story/markets/industries/energy/light-sweet-crude--barrel-electronic-trading/
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Dave
Supporter
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Posted: Tue Sep 2nd, 2008 10:20 am |
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| Well, I guess old "Gustov" wasn't as much of a concern for the oil speculators as they thought. Oil went down about $4 bucks a barrel yesterday. Prices should follow, eventually...
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marc
Supporter
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Posted: Mon Sep 1st, 2008 08:37 pm |
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| Been out in PA the last 3 days and Premium is around $3.73 give or take a few cents...Still over $4.00 back here in NJ...
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Dave
Supporter
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Posted: Sat Aug 30th, 2008 01:12 pm |
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| Paid $3.93 yesterday (91-octane) on the way home from work. Talk is about that hurricane drivin' prices back up...
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weasle
Supporter
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Posted: Thu Aug 28th, 2008 04:11 pm |
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jeffy ole boy wrote: Dave wrote: $3.99 for premium this morning...
Prices are comin' down little by little. Nowhere near as fast as they went up though... Same here.. our regular is down to like to $3.53 a gal. shot up from 3.49 a gallon yst to 3.63 today cause of a hurricane that aint even in the gulf yet . GEEZE.
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Dave
Supporter
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Posted: Thu Aug 28th, 2008 03:26 pm |
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jeffy ole boy wrote:
Dave wrote: $3.99 for premium this morning...
Prices are comin' down little by little. Nowhere near as fast as they went up though... Same here.. our regular is down to like to $3.53 a gal. Still about $2.00 a gallon more than I wanna spend...
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jeffy ole boy
Supporter
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Posted: Thu Aug 28th, 2008 03:20 pm |
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Dave wrote: $3.99 for premium this morning...
Prices are comin' down little by little. Nowhere near as fast as they went up though... Same here.. our regular is down to like to $3.53 a gal.
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Dave
Supporter
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Posted: Thu Aug 28th, 2008 02:06 pm |
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$3.99 for premium this morning...
Prices are comin' down little by little. Nowhere near as fast as they went up though...
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empty
Supporter
| Joined: | Tue Jun 28th, 2005 |
| Location: | Plano, Texas USA |
| Posts: | 1658 |
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Posted: Mon Aug 25th, 2008 02:18 pm |
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the preacher wrote: Yeah, actually that is why food prices, especially corn has gone up so much, the speculators/futures market about the possibility of wasting corn on ethanol. (plus, as weasle said, the cost of transportation) I never quite understood it, but when I worked for a feed company, the prices of corn wheat and oats used to bounce day by day, even what was already in the silos, cause of the futures markets.
If you REALLY wanna get confused...look at the Chicago Board of Trade Grain Futures site...anyone who can understand that has WAY too much time on their hands..lol
RSDF
I made the sorry mistake of thinking I could play around in the futures markets years ago, I was lucky to get out when I did. The same thing with crude oil prices sitting in their 'silos'. Growing up in the oil business, I can understand higher oil prices putting some of the good ole boys back to work. I moved south for work back in 84 when the price was less than $20 a barrel and it cost more to pump it than they were getting back.
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the preacher
Supporter
| Joined: | Wed Oct 17th, 2007 |
| Location: | |
| Posts: | 253 |
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Posted: Mon Aug 25th, 2008 01:25 pm |
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Yeah, actually that is why food prices, especially corn has gone up so much, the speculators/futures market about the possibility of wasting corn on ethanol. (plus, as weasle said, the cost of transportation) I never quite understood it, but when I worked for a feed company, the prices of corn wheat and oats used to bounce day by day, even what was already in the silos, cause of the futures markets.
If you REALLY wanna get confused...look at the Chicago Board of Trade Grain Futures site...anyone who can understand that has WAY too much time on their hands..lol
RSDF
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empty
Supporter
| Joined: | Tue Jun 28th, 2005 |
| Location: | Plano, Texas USA |
| Posts: | 1658 |
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Posted: Mon Aug 25th, 2008 12:52 pm |
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the preacher wrote: I don't know about texas, but like I wrote to Dave, around here the closer you get to the tank farms, i.e., they only have to transport a few miles rather than many, the prices are higher. That makes NO sense to me at all..lol
re: weasle: yes, I know about transportation increases, remember, I drive 18 every day...but, in my view, ain't no one screaming about them evil vegetable canners, or them evil dairy farmers, only the evil oil companies...
I remember someone else doing something like that...who shall remain nameless, but he blamed all his countries problems on one group of people, it is called scapegoating..
If we are gonna yell about cost increase, lets yell about everything, not just one thing. I realize too that we need more gas than anything else, but again, free market society. I don't want to live in a socialist based economy.
JMHO.
RSDF I completely agree about 'free market'. I understand everything has gone up, they had to because of the price of fuel. I'm not screaming about the price of fuel, just a little peaved that it is driven by speculators in the futures market instead of the real marketplace that relys on true supply-demand instead of what someone guesses it will be.
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the preacher
Supporter
| Joined: | Wed Oct 17th, 2007 |
| Location: | |
| Posts: | 253 |
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Posted: Mon Aug 25th, 2008 12:42 pm |
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I don't know about texas, but like I wrote to Dave, around here the closer you get to the tank farms, i.e., they only have to transport a few miles rather than many, the prices are higher. That makes NO sense to me at all..lol
re: weasle: yes, I know about transportation increases, remember, I drive 18 every day...but, in my view, ain't no one screaming about them evil vegetable canners, or them evil dairy farmers, only the evil oil companies...
I remember someone else doing something like that...who shall remain nameless, but he blamed all his countries problems on one group of people, it is called scapegoating..
If we are gonna yell about cost increase, lets yell about everything, not just one thing. I realize too that we need more gas than anything else, but again, free market society. I don't want to live in a socialist based economy.
JMHO.
RSDF
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empty
Supporter
| Joined: | Tue Jun 28th, 2005 |
| Location: | Plano, Texas USA |
| Posts: | 1658 |
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Posted: Mon Aug 25th, 2008 12:35 pm |
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the preacher wrote:
JMHO,
RSDF
p.s., I do not understand the price differentials in different areas of even the same state, but, since we don't have government controls on price, such is the market. Don't like it, but that is the way it is.
The manipulators I refer to are the guessers on Wall Street that control the 'futures market' mostly all based on factless rumors and blind speculation.
Our major price differential in this area is because we have numerous local refineries.
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weasle
Supporter
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Posted: Mon Aug 25th, 2008 12:25 pm |
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preacher , one of the reasons things have gone up drastically in the last year , is because if oil prices , transportation of all products , increased cost of fuel to produce food, electricty ,(ECT) things you mentioned impact the cost of everything , but the main reason has been increased fuel prices.and looking back as you are i bought a brand new 65 chevy impala hard top when i got out of the service 1800 $.LOL what would that buy today ? not even a 65 chevy impala, now a collectors item for the car buffs. 
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the preacher
Supporter
| Joined: | Wed Oct 17th, 2007 |
| Location: | |
| Posts: | 253 |
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Posted: Mon Aug 25th, 2008 11:40 am |
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I don't think it is all manipulation, anything other than 4 bucks IS good to me. What it seems some don't realize, everything ELSE had gone up, but if gas does, it is because of the evil oil companies and their windfall profits. How about them evil milk producers who expect me to pay 3.89 a gallon for milk, when we got married it was 1.52? or them evil farmers who want me to pay 45 cents a can for beans. 2 years ago it was .32 cents.
I realize it is a long time ago, but when I was cleaning out my Mom's house, I found a slip from my Dad's employer for the year 1940, the year they bought the house for 2,515.00. His yearly pay was 1,248.00 a year. Look at what we make now, comparatively, it would seem impossible to people even from 35 years ago to imagine that 28k, (what I make a year) is considered poverty.
Gas costs a lot. So do the salaries of the people who work the wells and the refineries and drive the trucks that deliver it.
I think they call it Economics, and the free market society we live in. Problem is, folks want to make 15.00 an hour, and pay .39 cents a gallon for hightest....don't work like that, and no congress or president is gonna make it so.
JMHO,
RSDF
p.s., I do not understand the price differentials in different areas of even the same state, but, since we don't have government controls on price, such is the market. Don't like it, but that is the way it is.
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empty
Supporter
| Joined: | Tue Jun 28th, 2005 |
| Location: | Plano, Texas USA |
| Posts: | 1658 |
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Posted: Mon Aug 25th, 2008 11:25 am |
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Dave wrote: marc wrote:
We need crooks like that back East...LOL... and on the West Coast too...Damn... How sad is it that we have been manipulated into thinking that "less than $4 a gallon" is a good deal?
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Dave
Supporter
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Posted: Mon Aug 25th, 2008 10:03 am |
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marc wrote:
We need crooks like that back East...LOL... and on the West Coast too...Damn...
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marc
Supporter
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Posted: Sun Aug 24th, 2008 09:30 pm |
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| We need crooks like that back East...LOL...
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empty
Supporter
| Joined: | Tue Jun 28th, 2005 |
| Location: | Plano, Texas USA |
| Posts: | 1658 |
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Posted: Sun Aug 24th, 2008 09:28 pm |
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I've really put off talkin' gas prices because I don't wanna sound like I'm rubbin' salt in a wound or something. I just got back from my monthly grocery run and noticed the tank on the pickup is at 1/4, the same tank I filled last May. At the corner gas crook;
Regular $3.29
91 octane $3.39
93 octane $3.49
Diesel $3.79
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Dave
Supporter
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Posted: Sun Aug 24th, 2008 10:33 am |
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Left the bike parked yesterday (Honee-doos) and needed gas in my truck, $3.85 for regular was the cheapest I've seen around here...
Filled the bike on the way home from work Friday and it was $4.06 for premium...
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