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KingPriest2
09-13-2006, 08:30 AM
So are prices going to keep going down or go back up

So far after 7 straight days OIl is up but we will see after this.

KingPriest2
09-13-2006, 08:34 AM
Crude inventories down 2. 9 mil barrels expected only 1.9
Gasoline inventories Up .1 Mil Expected 1 mil
Destillate stocks Up 4.7 mil expected mid 2s

Trading should be Bullish but not happening just yet

Demonpenz
09-13-2006, 08:37 AM
not until the voting season is over

KingPriest2
09-13-2006, 08:39 AM
CNBC was asking the question.

Cochise
09-13-2006, 08:46 AM
Paid $2.23 this morning.

eazyb81
09-13-2006, 09:24 AM
For what it's worth, Wall Street is predicting that we will be under $2/gallon around Christmas time.

Skip Towne
09-13-2006, 09:27 AM
$2.19 in Tulsa.

Saulbadguy
09-13-2006, 09:41 AM
They are just getting us temporary relief until they rape us again.

KingPriest2
09-13-2006, 09:45 AM
They are just getting us temporary relief until they rape us again.



False hope like with the Chiefs.

Inspector
09-13-2006, 09:48 AM
popeye reports that Olive's oil is just fine.

Frazod
09-13-2006, 09:55 AM
They are just getting us temporary relief until they rape us again.

They need to sell some more big SUVs, too.

Donger
09-13-2006, 10:06 AM
For what it's worth, Wall Street is predicting that we will be under $2/gallon around Christmas time.

Who is "we?" KC or the national average?

Lzen
09-13-2006, 10:11 AM
For what it's worth, Wall Street is predicting that we will be under $2/gallon around Christmas time.

I heard that same thing the other day. I'll believe it when I see it.

Can anyone explain why it's going back down? I really don't know how all this oil business works. But I find it strange that it was up to $3 a gallon last Summer and then again this Summer and now it's back down to around 2.25. Why the spike, slight decline, spike again, and now a greater decline? And is this just a temporary decline or will it go back like it was just a few short years ago?

Donger
09-13-2006, 10:14 AM
I heard that same thing the other day. I'll believe it when I see it.

Can anyone explain why it's going back down? I really don't know how all this oil business works. But I find it strange that it was up to $3 a gallon last Summer and then again this Summer and now it's back down to around 2.25. Why the spike, slight decline, spike again, and now a greater decline? And is this just a temporary decline or will it go back like it was just a few short years ago?

Crude oil is a traded commodity. As such, when demand for gasoline is high (like during the summer months), the price of crude and therefore gasoline goes up. Once the driving season is over and demand drops, so does the price. Other factors such as geopolitical trouble, hurricanes, etc. also can spook the traders. We've gotten lucky on those fronts this year, so far.

Lzen
09-13-2006, 10:33 AM
Crude oil is a traded commodity. As such, when demand for gasoline is high (like during the summer months), the price of crude and therefore gasoline goes up. Once the driving season is over and demand drops, so does the price. Other factors such as geopolitical trouble, hurricanes, etc. also can spook the traders. We've gotten lucky on those fronts this year, so far.

Ok, I understand the hurricanes affecting prices last Summer. But what happened this Summer to cause the price to go back up to where it was last Summer? Summer driving season, you say? Then why did we not see this same huge spike in 2004 or 2003 or........(well you get the point)....?

Donger
09-13-2006, 10:39 AM
Ok, I understand the hurricanes affecting prices last Summer. But what happened this Summer to cause the price to go back up to where it was last Summer? Summer driving season, you say? Then why did we not see this same huge spike in 2004 or 2003 or........(well you get the point)....?

There were fears amongst the traders that supply wouldn't keep up with demand. That leads to high crude prices. If there HAD been a Gulf hurricane (and there still could be), prices would have been much higher.

Global demand continues to rise every year. Global supply does not, at least not proportionally.

Epadfield
09-13-2006, 10:48 AM
For what it's worth, Wall Street is predicting that we will be under $2/gallon around Christmas time.

That's the national average though, the Midwest is always cheaper then the rest of the nation so we could conceivably be under $2.00 by early to mid October.

eazyb81
09-13-2006, 10:50 AM
Who is "we?" KC or the national average?

National average.

Donger
09-13-2006, 10:52 AM
National average.

That would be surprising. I'm still guessing right around $2.20 to $2.30.

eazyb81
09-13-2006, 10:52 AM
That's the national average though, the Midwest is always cheaper then the rest of the nation so we could conceivably be under $2.00 by early to mid October.

Certainly, I just said "under $2" because I didn't want to get everyone's hopes up by saying $1.80 or somewhere around there, then deal with the inevitable "BS" posts from people on here.

eazyb81
09-13-2006, 10:55 AM
I heard that same thing the other day. I'll believe it when I see it.

Can anyone explain why it's going back down? I really don't know how all this oil business works. But I find it strange that it was up to $3 a gallon last Summer and then again this Summer and now it's back down to around 2.25. Why the spike, slight decline, spike again, and now a greater decline? And is this just a temporary decline or will it go back like it was just a few short years ago?

I asked my finance professor the same thing, and he briefly summed it up by saying that we were forecasting a recession in the coming months, so we tried to horde as much oil as possible in the meantime to lessen the blow. The "recession" wasn't nearly as bad as experts initially believed, and therefore we have (or will have) excess supply, which will drop the price.

Epadfield
09-13-2006, 11:00 AM
Ok, I understand the hurricanes affecting prices last Summer. But what happened this Summer to cause the price to go back up to where it was last Summer? Summer driving season, you say? Then why did we not see this same huge spike in 2004 or 2003 or........(well you get the point)....?

Oil prices are based on the futures market and the people that trade there don't respond to what did happen, they respond to what COULD happen. That's why the price of oil goes up every time there is so much as talk of a Hurricane or war against a country like Iran.

ChiTown
09-13-2006, 11:01 AM
That would be surprising. I'm still guessing right around $2.20 to $2.30.

As a person who follows this for business reasons, the reports I'm following suggest Gas prices will be in the $2.55/g range by Jan '07 and rising gradually toward the Summer.

Skip Towne
09-13-2006, 11:04 AM
That would be surprising. I'm still guessing right around $2.20 to $2.30.
Tulsa is already cheaper than that.

DeepSouth
09-13-2006, 11:05 AM
I thought this thread was about the oil the Donks would be putting on their jerseys this Sunday ?

Donger
09-13-2006, 11:06 AM
As a person who follows this for business reasons, the reports I'm following suggest Gas prices will be in the $2.55/g range by Jan '07 and rising gradually toward the Summer.

I think that's optimistic, but barring any nasty business, it's certainly possible.

morphius
09-13-2006, 11:07 AM
I'd expect the gas prices to "unexpectedly" go up after the election.

Donger
09-13-2006, 11:07 AM
Tulsa is already cheaper than that.

I'm referring to the national average, not spot prices.

ChiTown
09-13-2006, 11:09 AM
Oil prices are based on the futures market and the people that trade there don't respond to what did happen, they respond to what COULD happen. That's why the price of oil goes up every time there is so much as talk of a Hurricane or war against a country like Iran.

When I was a trader for an Energy Company, we LOVED volatility in the market. That's how traders make their money. You'd be buying long or short based on where the volatility was going. That's a fun job......

Calcountry
09-13-2006, 11:27 AM
not until the voting season is overBush lied, oil prices skied.

Calcountry
09-13-2006, 11:30 AM
I heard that same thing the other day. I'll believe it when I see it.

Can anyone explain why it's going back down? I really don't know how all this oil business works. But I find it strange that it was up to $3 a gallon last Summer and then again this Summer and now it's back down to around 2.25. Why the spike, slight decline, spike again, and now a greater decline? And is this just a temporary decline or will it go back like it was just a few short years ago?Did you graduate from high school?

Did they require a basic course in economics?

The wizard of oz is behind a curtain, and he pulls on a lever and fixes the prices where he wants them so that the "big oil" companies can make fat cat profits off of us little people.

bkkcoh
09-13-2006, 11:36 AM
Did you graduate from high school?

Did they require a basic course in economics?

The wizard of oz is behind a curtain, and he pulls on a lever and fixes the prices where he wants them so that the "big oil" companies can make fat cat profits off of us little people.

Nope, it is all a conspiracy by the people in Washington D.C. to have low gas prices by election time. That and it would be beneficial to Halliburton, they are gonna sell short on Gas futures and make a killin' on our backs.. That of course will trickle down to GB and DC....... :p

Calcountry
09-13-2006, 11:36 AM
Crude oil is a traded commodity. As such, when demand for gasoline is high (like during the summer months), the price of crude and therefore gasoline goes up. Once the driving season is over and demand drops, so does the price. Other factors such as geopolitical trouble, hurricanes, etc. also can spook the traders. We've gotten lucky on those fronts this year, so far.On the demand side, people can drive less, buy Hybrids, not take vacations, and then the suppliers get spooked into dumping their inventory instead of getting hung with it.

Just immagine the thought of getting stuck with tanks full of gas, say a 100 million bucks worth, and Exon drops its price a nickle, and you are terrified that you won't be able to move your product on the very sensitive at 3.00 per gallon price level. You follow suit, which bounces the tennis ball back to Exon, and then they lower a couple of pennies.

Markets move in rushes depending on the level of greed and or panic. Human beings are market makers, they act irrationally in the short term, but it smoothes out in the long term.

To think, at the age of 22, I was in a graduate program, that did experiments to determine and quantify these exact things scientifically. Lesson, don't drink and chase women in graduate school.

Calcountry
09-13-2006, 11:38 AM
Nope, it is all a conspiracy by the people in Washington D.C. to have low gas prices by election time. That and it would be beneficial to Halliburton, they are gonna sell short on Gas futures and make a killin' on our backs.. That of course will trickle down to GB and DC....... :pJust think, if you Bush haters would all have bought one share of Halliburton every time you bitched about them, you would not only have made a ton of money, but you could all have voted the CEO's the heck out of their jobs by now.

Donger
09-13-2006, 11:39 AM
On the demand side, people can drive less, buy Hybrids, not take vacations, and then the suppliers get spooked into dumping their inventory instead of getting hung with it.

Just immagine the thought of getting stuck with tanks full of gas, say a 100 million bucks worth, and Exon drops its price a nickle, and you are terrified that you won't be able to move your product on the very sensitive at 3.00 per gallon price level. You follow suit, which bounces the tennis ball back to Exon, and then they lower a couple of pennies.

Markets move in rushes depending on the level of greed and or panic. Human beings are market makers, they act irrationally in the short term, but it smoothes out in the long term.

To think, at the age of 22, I was in a graduate program, that did experiments to determine and quantify these exact things scientifically. Lesson, don't drink and chase women in graduate school.

It shouldn't be forgotten that this a GLOBAL market. Yes, the United States makes up a large part of the global demand, but that share is dropping quickly.

Cochise
09-13-2006, 11:40 AM
Oil futures - v
Bitching futures - ^^^

:)

Calcountry
09-13-2006, 11:40 AM
Oil prices are based on the futures market and the people that trade there don't respond to what did happen, they respond to what COULD happen. That's why the price of oil goes up every time there is so much as talk of a Hurricane or war against a country like Iran.Or drops when a huge new reserve is proven in the Gulf of Mexico.

Calcountry
09-13-2006, 11:47 AM
It shouldn't be forgotten that this a GLOBAL market. Yes, the United States makes up a large part of the global demand, but that share is dropping quickly.This is correct. In marketplaces, each participant communicates a message to the market, each one to a small degree affects the overall marketplace.

Supply and demand imbalances are what move the prices, nothing more, nothing less.

If IBM stock goes up 2.00/share today, that doesn't mean that IBM made money today, it simply means that more people wanted to buy it than sell it today.

Why did they want to buy it? They must have thought the price would go up sometime in the future to a higher price than it was today. Maybe, they couldn't think of anything better to do with their money at the moment. Maybey, they wanted to buy a huge amount to bolster their control of the company.

Back to oil. If you are a refiner, you have to have feedstocks of crude to go through that plant. It costs money, big bucks, to keep them dudes running. Their is maintenance, safety, workers etc.

Down time is reported all the time at them.

So, your buyer goes to the oil pits and needs to secure some crude, and the traders are doing their thang, cause the sellers want to get paid as much as possible, and you can take it away now Chi town.

How does these prices mysteriously go up and down?

Lzen
09-13-2006, 11:49 AM
Did you graduate from high school?

Did they require a basic course in economics?

The wizard of oz is behind a curtain, and he pulls on a lever and fixes the prices where he wants them so that the "big oil" companies can make fat cat profits off of us little people.

No, I never took a course in economics. The only way a person learns is by asking. Or reading up on the subject matter. It's a good thing I asked or I wouldn't have learned anything today. However, there seem to be a lot of differing opinions on this subject. Sometimes it's difficult to know which opinion more closely resembles the facts.

But I suppose it's just much easier for you to be an educated pompous ass when somebody asks a question about this.

Donger
09-13-2006, 11:51 AM
However, there seem to be a lot of differing opinions on this subject. Sometimes it's difficult to know which opinion more closely resembles the facts.

Some people become rather emotional when it comes to gasoline prices. Those who don't understand the market, in particular.

They're amazingly silent when the price DROPS, however.

Lzen
09-13-2006, 11:55 AM
Some people become rather emotional when it comes to gasoline prices. Those who don't understand the market, in particular.

They're amazingly silent when the price DROPS, however.

Touche.

Donger
09-13-2006, 11:58 AM
Touche.

I wasn't referring to you, FYI. You asked a valid question and I provided an answer based on my experience. I was referring more to those who scream "gouging" when the price of crude reaches $75 per barrel and the price of gasoline climbs accordingly.

Calcountry
09-13-2006, 12:00 PM
No, I never took a course in economics. The only way a person learns is by asking. Or reading up on the subject matter. It's a good thing I asked or I wouldn't have learned anything today. However, there seem to be a lot of differing opinions on this subject. Sometimes it's difficult to know which opinion more closely resembles the facts.

But I suppose it's just much easier for you to be an educated pompous ass when somebody asks a question about this.Sorry dude.

I can be an ass at times, and I apologise.

Calcountry
09-13-2006, 12:07 PM
I wasn't referring to you, FYI. You asked a valid question and I provided an answer based on my experience. I was referring more to those who scream "gouging" when the price of crude reaches $75 per barrel and the price of gasoline climbs accordingly.To Lzen, it is this constant screaming that gets to me, and when I am boiling already at the keyboard my propensity to become an ass goes way up.

Once again, my apologies.

Anytime you want lessons in econ, just p.m. me dude. It allows me to pretend that I didn't fug up and get probation in graduate school.

Donger
09-13-2006, 12:10 PM
For those who want to know more, the gubmint puts this out weekly. They also link to the STEO when they come out.

http://tonto.eia.doe.gov/oog/info/twip/twip.asp

For crude oil markets, the global situation is about as rosy as has been the case in the last several months. Almost every concern that existed in crude oil markets this summer is much more benign now. Concerns about a possible oil disruption from Iran have faded, as the diplomatic push to get Iran to halt enrichment of nuclear material has not yet led to sanctions imposed by the United Nations Security Council, and Iran has stated recently its willingness to continue negotiations with the United Nations. Mid-September has arrived without a single hurricane affecting oil facilities in the Gulf of Mexico and with no storms likely to arrive within at least the next week. Nigeria, where significant disruptions have occurred with some frequency over the past several years, has been quiet. The oil situation in Iraq is as positive as it has been in nearly 2 years, with EIA estimating Iraqi crude oil production in July and August at its highest levels since the fall of 2004. Even the one disruption that did make news recently, the BP pipeline leak in Alaska, now appears to be much less of a problem than originally thought. Initially, concerns were raised that Prudhoe Bay production might be stopped altogether, but it was soon determined that only a part of production would have to be taken offline for an extended period. According to the State of Alaska, Prudhoe Bay production for the month of August averaged 189 thousand barrels per day, which is about half of its August 2005 level. BP recently announced plans to begin to bring more production online soon and hopes to have full production restored by the end of October.

For gasoline markets, the price drop that normally arrives after Labor Day and usually extends through the end of the year began a few weeks early, as the market entered the last few weeks of August with no hurricanes threatening petroleum infrastructure, such as refineries or pipelines, and with enough supplies on hand to get through Labor Day. As a result, the sell-off started before Labor Day, as along with the expected seasonal demand drop, rising refinery runs, and high import levels, markets perceived an improving supply/demand balance, pushing down prices. Currently, the near-month futures price of a barrel of gasoline is only $1 to $2 above that of a barrel of crude oil, an unusually low margin that is likely to increase over the coming months. Diesel prices have not dropped as much as gasoline, mostly because diesel demand tends to be strong in the fall with agricultural use of diesel increasing as crops are harvested, and the similarity of diesel to heating oil often causes diesel prices to rise in conjunction with heating oil as the winter approaches. Thus, declines in diesel prices have been limited to those caused by the decline in crude oil prices.

Unless the U.S. economy starts showing signs of a significant slowdown, which would slow oil demand growth, or an unusually warm winter in the northern hemisphere that depresses heating-related demand, the opportunity for further improvement in crude oil markets appears to be limited.

Donger
09-13-2006, 12:14 PM
Cool. I just read that El Nino is back in the Pacific. That usually means a mild winter for the United States.

ChiTown
09-13-2006, 12:21 PM
For crude oil markets, the global situation is about as rosy as has been the case in the last several months. Almost every concern that existed in crude oil markets this summer is much more benign now. Concerns about a possible oil disruption from Iran have faded, as the diplomatic push to get Iran to halt enrichment of nuclear material has not yet led to sanctions imposed by the United Nations Security Council, and Iran has stated recently its willingness to continue negotiations with the United Nations. Mid-September has arrived without a single hurricane affecting oil facilities in the Gulf of Mexico and with no storms likely to arrive within at least the next week. Nigeria, where significant disruptions have occurred with some frequency over the past several years, has been quiet. The oil situation in Iraq is as positive as it has been in nearly 2 years, with EIA estimating Iraqi crude oil production in July and August at its highest levels since the fall of 2004. Even the one disruption that did make news recently, the BP pipeline leak in Alaska, now appears to be much less of a problem than originally thought. Initially, concerns were raised that Prudhoe Bay production might be stopped altogether, but it was soon determined that only a part of production would have to be taken offline for an extended period. According to the State of Alaska, Prudhoe Bay production for the month of August averaged 189 thousand barrels per day, which is about half of its August 2005 level. BP recently announced plans to begin to bring more production online soon and hopes to have full production restored by the end of October.

For gasoline markets, the price drop that normally arrives after Labor Day and usually extends through the end of the year began a few weeks early, as the market entered the last few weeks of August with no hurricanes threatening petroleum infrastructure, such as refineries or pipelines, and with enough supplies on hand to get through Labor Day. As a result, the sell-off started before Labor Day, as along with the expected seasonal demand drop, rising refinery runs, and high import levels, markets perceived an improving supply/demand balance, pushing down prices. Currently, the near-month futures price of a barrel of gasoline is only $1 to $2 above that of a barrel of crude oil, an unusually low margin that is likely to increase over the coming months. Diesel prices have not dropped as much as gasoline, mostly because diesel demand tends to be strong in the fall with agricultural use of diesel increasing as crops are harvested, and the similarity of diesel to heating oil often causes diesel prices to rise in conjunction with heating oil as the winter approaches. Thus, declines in diesel prices have been limited to those caused by the decline in crude oil prices.

Unless the U.S. economy starts showing signs of a significant slowdown, which would slow oil demand growth, or an unusually warm winter in the northern hemisphere that depresses heating-related demand, the opportunity for further improvement in crude oil markets appears to be limited.

That analysis was nails. kudos.

Without some serious, sustainable WORLD-WIDE economic slowing (Asia, US and Europe) I think the days of seeing sustainable crude oil prices below $50/bbl and Nat Gas prices below $4/mmbtu are just about over.

Frosty
09-13-2006, 12:28 PM
What I want to know is why has everyone else's gas prices dropped like a rock while ours has only gone down 6 cents, to $3.08.

Mofos :cuss:

Calcountry
09-13-2006, 12:34 PM
Cool. I just read that El Nino is back in the Pacific. That usually means a mild winter for the United States.That would scare somebody with a long position in Crude futures.

Donger
09-13-2006, 12:46 PM
What I want to know is why has everyone else's gas prices dropped like a rock while ours has only gone down 6 cents, to $3.08.

Mofos :cuss:

You're in Washington state? Which city?

Calcountry
09-13-2006, 12:49 PM
What I want to know is why has everyone else's gas prices dropped like a rock while ours has only gone down 6 cents, to $3.08.

Mofos :cuss:Each marketplace, city, is independant of another.

For instance. Everyone that sells gas within your marketplace compete against each other, and the cost structure of supplying and distributing gas to each market is a little different depending on how many miles you are from the distribution terminal that the trucks fill up with. Yes, it takes diesel to truck your gas to the station.

Add to that many regional and or local tax/gallon issues, and that is why gas prices vary from market to market. Perhaps the folks are wealthier in your city and demand a gas station that has lots of pumps so they can pull right up and get gas without waiting. Gas companies are more than happy to provide extra pumps with bright lights, free air, and all the amenities for a nickel to 10 cents on average more per gallon. If these types of stations get more volume than local Akbar's corner EZ mart, then you can bet that even Akbar will be tempted to raise his price a little because why leave it on the table, it didn't generate any extra business.

There are a whole lot more variables than price that determines where some people buy gas.

Gas companies have demographic data on median family income in an area and take full advantage of all profit opportunities. That is what share holders like me demand, otherwise we fire them by selling their stock.

Kind of like Chiefs fans demanding wins or firing their GM, oops, I guess that is a bad example.

We must be irrational fans that don't fit into the normal paradigm.

luv
09-13-2006, 12:52 PM
Price went to $2.12 here. I heard it was supposed to get down to around $2 when all is said and done. I suspect the prices will go soaring back up shortly after the election in November. Just a hunch, though.

Frosty
09-13-2006, 12:54 PM
You're in Washington state? Which city?

Near Spokane. It's the whole east side of the state, though. I don't know about the left side.

I understand why it's higher than other areas (mostly thanks to having one of the highest gas taxes in the nation) but it seems like it should drop at a similar rate to other areas. Oregon and Idaho have both dropped a lot, while we sit like a bump on a log. :mad:

bkkcoh
09-13-2006, 01:00 PM
Just think, if you Bush haters would all have bought one share of Halliburton every time you bitched about them, you would not only have made a ton of money, but you could all have voted the CEO's the heck out of their jobs by now.

I am hoping you picked up on the sarcasm. But can't really tell. My sarcasm meter isn't functioning properly... :)

Idahored
09-13-2006, 01:06 PM
Near Spokane. It's the whole east side of the state, though. I don't know about the left side.

I understand why it's higher than other areas (mostly thanks to having one of the highest gas taxes in the nation) but it seems like it should drop at a similar rate to other areas. Oregon and Idaho have both dropped a lot, while we sit like a bump on a log. :mad:


I grew up in Spokane Valley and my family is still there. Here in southern Idaho prices have only dropped a few cents also. I was paying $2.94 and it has only dropped to $2.89. Of course that is a lot lower than up there in the Nanny State.

"I don't know about the left side..." LOL!

ChiTown
09-13-2006, 01:12 PM
That would scare somebody with a long position in Crude futures.

Not really.

That will have a larger effect on Natural Gas vs. Crude.

DMAC
09-13-2006, 01:12 PM
Price went to $2.12 here. Yeah Luv, it was almost weird today to fill up and have the total be $32.

They have definately trained my mind to be excited over $2.00 a gallon.

Frosty
09-13-2006, 01:14 PM
I grew up in Spokane Valley and my family is still there. Here in southern Idaho prices have only dropped a few cents also. I was paying $2.94 and it has only dropped to $2.89. Of course that is a lot lower than up there in the Nanny State.

Maybe it is a regional thing, if Idaho hasn't dropped as much as I had heard. My in-laws just came up from Oregon and it was dropping pretty fast there.

Donger
09-13-2006, 01:24 PM
Near Spokane. It's the whole east side of the state, though. I don't know about the left side.

I understand why it's higher than other areas (mostly thanks to having one of the highest gas taxes in the nation) but it seems like it should drop at a similar rate to other areas. Oregon and Idaho have both dropped a lot, while we sit like a bump on a log. :mad:

The West Coast gets much of its oil from Alaska. Since BP has shut down half of its production from Prudhoe, you shouldn't expect your prices to drop as much as the rest of the country.

Don't forget that gasoline prices can, and do, vary considerably even within a metro area. For example, gas out by my airport is $3.15, but where I live, it's $2.85.

Lzen
09-13-2006, 02:34 PM
Sorry dude.

I can be an ass at times, and I apologise.

Accepted. Thanks.

To Lzen, it is this constant screaming that gets to me, and when I am boiling already at the keyboard my propensity to become an ass goes way up.

That's kinda what I figured. Hanging out in DC will do that to you. ;) FTR, I've always thought you are a good poster and I tend to agree with a lot of your posts. That reply just irked me a bit. No big deal. We're good.

Lzen
09-13-2006, 02:36 PM
I wasn't referring to you, FYI. You asked a valid question and I provided an answer based on my experience. I was referring more to those who scream "gouging" when the price of crude reaches $75 per barrel and the price of gasoline climbs accordingly.

I knew that. Perhaps touche wasn't the proper word to use there. ;)

Calcountry
09-13-2006, 02:41 PM
I am hoping you picked up on the sarcasm. But can't really tell. My sarcasm meter isn't functioning properly... :)I missed the smiley, my bad. Sometimes when I get worked up, I quit reading as effectively too. :D

Calcountry
09-13-2006, 02:43 PM
Not really.

That will have a larger effect on Natural Gas vs. Crude.Good point.

Calcountry
09-13-2006, 02:44 PM
The West Coast gets much of its oil from Alaska. Since BP has shut down half of its production from Prudhoe, you shouldn't expect your prices to drop as much as the rest of the country.

Don't forget that gasoline prices can, and do, vary considerably even within a metro area. For example, gas out by my airport is $3.15, but where I live, it's $2.85.
That is why you should have www.gasbuddy.com (http://www.gasbuddy.com) bookmarked for when you need to fill the tank.

Calcountry
09-13-2006, 02:47 PM
That's kinda what I figured. Hanging out in DC will do that to you. ;) FTR, I've always thought you are a good poster and I tend to agree with a lot of your posts. That reply just irked me a bit. No big deal. We're good..


The feeling is mutual. I usually check and make sure it is a n00b before I blast off like that.

Donger
09-13-2006, 02:47 PM
That is why you should have www.gasbuddy.com (http://www.gasbuddy.com) bookmarked for when you need to fill the tank.

Sure, but take into account the geography. It doesn't make much sense to drive 50 miles out of your way to save $0.10 per gallon. Not for me, anyway. Folks could make up that money by just driving more efficiently, proper car setup, etc.

Frazod
09-13-2006, 02:53 PM
We're still getting fisted in the Chicago area. Gas is still well over $3 at numerous places in the city, and the lowest prices in some of the outlying suburbs is only in the $2.65 range.

RP_McMurphy
09-13-2006, 02:59 PM
People forget add in a average of 40-50 cents per gallon for taxes. You have state, federal and in some cases city taxes added on to a gallon of gasoline.

InChiefsHell
09-13-2006, 03:12 PM
People forget add in a average of 40-50 cents per gallon for taxes. You have state, federal and in some cases city taxes added on to a gallon of gasoline.

Indeed. And nobody screams for those bastards and their profits...the gubmint makes a ton of money off of gas, but everyone is focused on the companies...

Donger
09-13-2006, 03:13 PM
People forget add in a average of 40-50 cents per gallon for taxes. You have state, federal and in some cases city taxes added on to a gallon of gasoline.

Taxes are the second largest portion of your petrodollar, after crude.

Donger
09-13-2006, 03:14 PM
We're still getting fisted in the Chicago area. Gas is still well over $3 at numerous places in the city, and the lowest prices in some of the outlying suburbs is only in the $2.65 range.

Shouldn't be too hard to vote that mayor out. What's his name again?

Calcountry
09-13-2006, 03:15 PM
Sure, but take into account the geography. It doesn't make much sense to drive 50 miles out of your way to save $0.10 per gallon. Not for me, anyway. Folks could make up that money by just driving more efficiently, proper car setup, etc.Oh I agree, but I have been planning my fuel purchases rather than just waiting to the warning light and pulling into the next available station that day.

bkkcoh
09-13-2006, 03:15 PM
Taxes are the second largest portion of your petrodollar, after crude.

I saw a graphic that showed that the price of crude was about 60% of the cost of a gallon of gas, about 30% was taxes and the rest was production and transportation costs

Calcountry
09-13-2006, 03:16 PM
I saw a graphic that showed that the price of crude was about 60% of the cost of a gallon of gas, about 30% was taxes and the rest was production and transportation costsAnd I think about a nickel a gallon profit to the stations, so, if you must bitch, don't bitch at the Gas station attendants. They have about as much control over this as I do the weather.

bkkcoh
09-13-2006, 03:19 PM
And I think about a nickel a gallon profit to the stations, so, if you must bitch, don't bitch at the Gas station attendants. They have about as much control over this as I do the weather.


Oh yeah, forgot the 2 - 3 % of profit for the gas station... So small I forgot it... :hmmm:

And people get so upset when the petroleum companies make about 10% profit. That is a joke if you ask me. Other industries make a lot more profit than that, don't they? :banghead:

Donger
09-13-2006, 03:54 PM
I saw a graphic that showed that the price of crude was about 60% of the cost of a gallon of gas, about 30% was taxes and the rest was production and transportation costs

You mean this one? It's dated, however.

.

Calcountry
09-13-2006, 04:54 PM
Oh yeah, forgot the 2 - 3 % of profit for the gas station... So small I forgot it... :hmmm:

And people get so upset when the petroleum companies make about 10% profit. That is a joke if you ask me. Other industries make a lot more profit than that, don't they? :banghead:The Oil companies just make a dang good product, that everyone everyone everyone thneeds.

A thnead is a thing that everyone needs.

So they biggered their factories and biggered their roads, they biggered and biggered and biggered they growed.

I think I got that passage from Dr. Suess' "The Lorax" or something like that.

BigOlChiefsfan
09-13-2006, 08:01 PM
Exxon drilled! Prices killed!
Hurricane stopped! Prices dropped!
Opec pumped! Pundits stumped!

Supply and demand = cold but fair.

Frazod
09-13-2006, 08:22 PM
Shouldn't be too hard to vote that mayor out. What's his name again?

Daley. And he's dug in like a tick, regardless of how much graft gets exposed.

But I don't live in Chicago anymore, so no vote for me.

Drove by a station earlier - Gas was $2.81 at a Speedway. Better than it was, but still there is no excuse for it being 60 cents more than Iowa. 20 or 30 cents more I could understand, but not that. We're getting raped.

djrcmay
09-13-2006, 09:35 PM
$2.11 in Ozark, Mo. (just south of Springfield)

BigOlChiefsfan
09-14-2006, 11:45 AM
http://www2.ljworld.com/news/2004/may/24/taxes_on_gasoline/

BigOlChiefsfan
09-14-2006, 08:56 PM
http://www.usatoday.com/money/industries/energy/2006-09-14-natgas-prices_x.htm?csp=34

Frazod
09-14-2006, 08:59 PM
It dropped at the nearest station to my house about 5 cents today, down to $2.78. Still brutally expensive compared to Iowa and Missouri.

Skip Towne
09-14-2006, 10:01 PM
The Oil companies just make a dang good product, that everyone everyone everyone thneeds.

A thnead is a thing that everyone needs.

So they biggered their factories and biggered their roads, they biggered and biggered and biggered they growed.

I think I got that passage from Dr. Suess' "The Lorax" or something like that.
Are you drunk or do you act like this all the time?

Skip Towne
09-14-2006, 10:06 PM
It dropped at the nearest station to my house about 5 cents today, down to $2.78. Still brutally expensive compared to Iowa and Missouri.
Or Tulsa. $2.16 here today. See, Fraz, THEY really are out to get you. Us dumb Okies are kicking your ass long distance.

Rausch
09-14-2006, 10:11 PM
$2.29 here when I filled outside Jefferson City...

bkkcoh
09-15-2006, 06:49 AM
It dropped at the nearest station to my house about 5 cents today, down to $2.78. Still brutally expensive compared to Iowa and Missouri.


My brother gets upsets and says that it isn't fair that a Communist State, Ohio has gas for a mere $2.04 - $2.06. Granted, the price within the Columbus area, the price varies about 30 cents....

OnTheWarpath58
09-15-2006, 06:58 AM
$2.15 at the QT down the street......

Donger
09-15-2006, 08:08 AM
Wow. I just read that oil demand grew by only 0.7% in the US for the first half of 2006. It was expected to grow by 1.6%, as usual. Nice going all!

However, China's demand grew by a frightening 8.3% during the same period.

Frazod
09-15-2006, 08:32 AM
Wow. I just read that oil demand grew by only 0.7% in the US for the first half of 2006. It was expected to grow by 1.6%, as usual. Nice going all!

However, China's demand grew by a frightening 8.3% during the same period.

Sure would be nice to see it actually drop.

Donger
09-15-2006, 08:36 AM
Sure would be nice to see it actually drop.

Well, not me. That would virtually mean our economy would be in at least recession, if not depression.

I'd like to see where the significant slow down actually happened. Was it mostly consumer consumption that slowed? That's pretty much the only thing that we can do to have an immediate price effect on gasoline.

KC-TBB
09-15-2006, 09:01 AM
The Arabs found another field or something? Drudge Report said gas was $1.96 in Omaha, NE this a.m. :clap: :)

KC-TBB
09-15-2006, 09:02 AM
I also heard that they are not having to put in the '
summer additives to keep down pollution, so it will go down a bit more.
Sad to think that under $2.00 a gallon is 'cheap gas'

Donger
09-15-2006, 09:02 AM
The Arabs found another field or something? Drudge Report said gas was $1.96 in Omaha, NE this a.m. :clap: :)

No, we did, in the Gulf. We won't see any of it for years, but it has made the traders less spooked.

Donger
09-15-2006, 09:03 AM
I also heard that they are not having to put in the '
summer additives to keep down pollution, so it will go down a bit more.

Correct.

jiveturkey
09-15-2006, 09:04 AM
Where does China get most of it's oil from? Do they deal with the Russians more than the Arabs?

Donger
09-15-2006, 09:09 AM
Where does China get most of it's oil from? Do they deal with the Russians more than the Arabs?

Right now, about 60% from the Persian Gulf.

Bugeater
09-15-2006, 09:16 AM
The Arabs found another field or something? Drudge Report said gas was $1.96 in Omaha, NE this a.m. :clap: :)
Geez, did they mention which gas station it was? Lowest I've seen it here is $2.23.

BigOlChiefsfan
09-15-2006, 09:38 AM
http://austinbay.net/blog/?p=1421

Frazod
09-15-2006, 10:13 AM
Well, not me. That would virtually mean our economy would be in at least recession, if not depression.

I'd like to see where the significant slow down actually happened. Was it mostly consumer consumption that slowed? That's pretty much the only thing that we can do to have an immediate price effect on gasoline.

I was thinking more along the lines of conservation, more people driving fuel efficient cars, etc.