Supposed to drop another 8 cents a liter here tonight in NL:eek:

Crude closed up $4.46 (10.25%) @ $47.98 today.

$1.29 KCMO by the airport

Not for long.

Thanks for the warning, everyone should go top off their tanks tonight.

Good thing I'm almost on empty. I'll go fill it up one last time for sentimental value. Here we go $4.00 a gallon!

ROFL

Today's massive jump was due to OPEC's announcement. I wouldn't expect a sustained run.

What announcement?

Sorry, The Kingdom's announcement.

Prices jumped about a dime here at some places. I suspect the rest will follow shortly.

Lucky you. A station I drive by daily jumped 35 cents.

Sounds like price gouging to me.

1.29 in KC North.

I doubt that.

I'm still jealous that KC is cheaper than us. It's $1.43 at some stations, while others jumped up to $1.53 late this afternoon.

1.71 in Seattle. It hasn't moved much in the last 2 or 3 weeks.

I'll bet George Bush is behind this.

1.41

WTF? Price went up 29 cents in two days. :shake:

Shit. It went down 4 cents here today. How much in Chicago?

Um...and what was the Kingdom's announcement?

I'm in the burbs. I was $1.50 a couple of days ago - tonight the same station was $1.79.

1.47 yesterday here ... don't think it rose today ...

Doubt it all you want. I drove by it at 4 am yesterday it was 1.44. I get off work at 3, it was 1.79.

Has to be the cutting supply announcement.:cuss:

Still 1.39 where I usually go.

Went from 1.39 yesterday morning to 1.79 last night. 1.79 still this morning.

Still $1.29 today

It's very strange - at the nearest gas station, the price has jumped from $1.50 to $1.79; the station across the street is at $1.69; but a mile down the street, there's a station selling gas for $1.52. All in the same city.

:shake:

Still $1.28 today.

1.41 at 3pm today. 1.59 at 8pm today.

WTF

We've had daily decreases in crude and we've seen daily decreases in gasoline.

We just had a massive daily increase in crude (10%) and you are seeing (spot) massive increases in gasoline.

Oil up to 48.05

GO OIL GO!

Naughty OPEC. Very naughty.

ok
 

graf

Closed down $1.77 @ $44.51 (3.82%)

OPEC cuts daily output by 2.2 million barrels/day.

Oil has this planet by the balls.

Don't get used to it -- the OPEC assholes are at it again. (Linky)

You know, I understand that the global warming folks tend to be a tad alarmist (and more than a "tad" in some cases). But regardless of one's take on the subject, I fail to see how switching to something other than oil is a bad idea, no matter the reasons.

It just makes sense to move on from what is century-old technology into something not just cleaner, but also not susceptible to a cartel controlling such a huge chunk of our energy needs and toying with our economy.

MM
~~:grovel:

There was an article about some guy with no teeth from the south using cut up weed (not cannibis you hippy) and making ethonal out of it.

Crude closed down $3.54 (8.12%) @ $40.06

Sorry OPEC...

LMAO They can't stop it!

Why did my gas go up today then?

Retail prices always lag behind crude prices. And, gasoline has gone up a penny over the last week.

Im loving this gas right now I hope it doesnt get to crazy again

1.59

Is it just me, or has the sound of Iranian saber rattling quieted down a notch or two?

Surely you're talking avg.retail price? 'cause here it went up 12 cents a couple of days ago...and I attributed it to the usual holiday gouging tactic.

"In other Nymex trading, gasoline futures fell 3.45 cents to settle at $1.0055 a gallon", I guess this is for January futures, but soon will be February's?

It wasn't a small increase here. Went up by 10% from 1.599 to 1.759.

ORAN, Algeria - OPEC on Wednesday agreed to slash 2.2 million barrels from its daily production — its single largest cut ever — while bloc outsiders Russia and Azerbaijan announced their own cutbacks of hundreds of thousands of barrels from the market.

"I hope we surprised you," OPEC President Chekib Khelil said when asked whether the size of the cut would shock moribund oil markets into an upward trend. "If you're not surprised we need to so something about it."

And yet markets weren't impressed.
Story continues below ↓advertisement | your ad here

Crude oil sank to $40.20 after the announcement, a level not seen since the summer of 2004 and a clear sign investors are more worried that the world is heading for a long and painful recession in which energy use will continue to erode.

In just five months, crude has given up all of the price gains made over the past four years.

Making matters worse for OPEC, Moscow distanced itself from direct ties with the 13-nation producers' group, further dampening OPEC hopes of coordinated production cuts that might put a floor under crude prices.

OPEC said oil ministers of the 11 nations under the group's quota system agreed to take 4.2 million barrels a day off the market, but that includes two previous announced cuts that totaled 2 million barrels.

That leaves the new output reduction announced Wednesday at 2.2 million barrels, effective Jan. 1.

http://www.msnbc.msn.com/id/28274997/

Crude trading below $40 right now ($38.99)

Yes. Local prices are irrelevant.

Heh. Suck it, OPEC.

Closed down $3.84 (9.59%) @ $36.22

Happy?

Wow.

Yes.

If this keeps up, they'll have to start laying off their suicide bombers. LMAO

Crude is so plentiful right now that they are leasing supertankers just for storage.

I think its funny OPEC is doing what they can to boost crude prices, then it drops nearly $8 in 2 days. What pisses me off though, is when it jumped $4 dollars last week, then gas jumped a quarter. I've only seen a 15 cent decrease in price here.

This is ridiculous now. Oil is now TOO low. $36.43/barrel.

Now at $33.87, down $2.35 (or 6.49%).

I agree. It's gone too far, too fast. E&P projects are being shelved. This will bite us in the ass in the future.

hopefully it stays in the 40 dollar range that is fair

It doesn't matter what you or I think is "fair." What matters is that at $40, it is not economically-sound to go after new E&P (for the most part).

I don't know what e&p means all I care is if gas is reasonable. If it gets too high maybe we can scrap nasa or something to offset costs

Sorry. Exploration and production. Looking for, finding and producing from new oil fields.

we def need that and alternative oils we also need to fix the rrod in xbox 360's

Hmm? Car related, I think I'll post this here.

Could be funny except that did not ask for money from the 'bailout'. They have changed the way they do business and actually have enough to ride out the financial crisis for the near future.

Heh, we shall see..........

I have to figure out how to pitch a hard luck story and get a few million sent my direction.

You do realize that if GM and Chrysler went under it would also hurt Toyota, Honda and Nissan don't you? It would also spiral us quickly into a depression.

I just saw on the evening news that OPEC is mad at Oklahoma. Cushing, Oklahoma in particular. They said Cushing is the largest oil storage facility in the world. It is reaching record capacities and could be completely full within two weeks. So get down there and suck my dick or you'll freeze to death in the dark.

I believe it was Teddy Roosevelt that once said "What is good for general bullmoose is good for the economy" referring to GM. It has been a long standing economic belief that in order to serve the needs of American family, that we must first look after the needs of corporate America. They are the driving force of the economy. They create jobs, and put Billions of dollars into the economy. The bailout is putting that belief to practice. If the big 3 go under, it would have a devastating effect on the economy.

Crude down $2.46 (7.26%) @ $31.41

Damn.

Damn is right. How far is this shit going to fall?

Interesting note....gas is up 7 cents here.

Its been 5 years since its been this low.

Yeah. ****ing Holiday price gouging.

I have no idea. I thought it would bottom out in the $60-$70 range, so that shows what I know.

Is anyone making car trips this Christmas that you would not have if gasoline was still $4.00?

I never thought I'd see gas below $3.00 a gallon in my lifetime after it hit $4.00.