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Bugeater 11-30-2014 06:24 PM
Quote:
Originally Posted by Donger (Post 11154683)
Well, it's exposed the weakness of our position. Our domestic output has been extraordinary, but it isn't economically-viable when crude is low. That's what I've been mentioning over the last year or so in this thread.

Crude plummeting isn't really a good thing all around.
Other than some jobs being lost I'm failing to see what's bad about it.

Donger 11-30-2014 06:28 PM
Quote:
Originally Posted by Baconeater (Post 11154710)
Other than some jobs being lost I'm failing to see what's bad about it.
That the Saudis/OPEC can attack and beat our "energy independence" that has been touted.

DaneMcCloud 11-30-2014 06:31 PM
Quote:
Originally Posted by Baconeater (Post 11154666)
It's not a bad deal, but we have to spend $1,000/mo to get that much of a discount.
Whoa. That would take a family of six or more, wouldn't it?

I do the majority of shopping at Costco and supplement it with Target/Ralphs. We're barely spending $800 a month on those expenses, which includes diapers, wipes, TP, paper towels, napkins, dishwashing soap, dishwasher soap, laundry detergent, etc.

Bugeater 11-30-2014 06:32 PM
Quote:
Originally Posted by Donger (Post 11154727)
That the Saudis/OPEC can attack and beat our "energy independence" that has been touted.
So what? We know we can be independent if we need to. Like a previous poster mentioned, sit on ours why they pump out theirs at a lower price.

Donger 11-30-2014 06:35 PM
Quote:
Originally Posted by Baconeater (Post 11154751)
So what? We know we can be independent if we need to. Like a previous poster mentioned, sit on ours why they pump out theirs at a lower price.
We don't have the refining capacity to be completely independent. We also don't have the crude production required to be independent.

The really good other thing about our increased production has been on the global spare capacity. Our increased production has made that spare global capacity increase, and will lessen the shock out of crude pricing in the event of an event with other producers.

Bugeater 11-30-2014 06:37 PM
Quote:
Originally Posted by DaneMcCloud (Post 11154739)
Whoa. That would take a family of six or more, wouldn't it?

I do the majority of shopping at Costco and supplement it with Target/Ralphs. We're barely spending $800 a month on those expenses, which includes diapers, wipes, TP, paper towels, napkins, dishwashing soap, dishwasher soap, laundry detergent, etc.
lol no, just us two for the most part. We like to eat and don't cut many corners when it comes to food. Plus my son works there, we get a 10% family discount so we buy booze and a lot of nonfood items as well.

Guru does have a family of six though, so he does it more out of necessity.

Buzz 11-30-2014 06:37 PM
Quote:
Originally Posted by Baconeater (Post 11154751)
So what? We know we can be independent if we need to. Like a previous poster mentioned, sit on ours why they pump out theirs at a lower price.
Because Donger has wood for high oil prices, in the mean time, I'm going to enjoy it.

BigMeatballDave 11-30-2014 06:56 PM
Quote:
Originally Posted by Donger (Post 11154702)
We don't export crude. It isn't permitted, by law, with a dew execeptions. Some have been suggesting that change, however.
I never knew this. Robert Menendez is a ****ing moron.
Quote:
But not everyone's convinced. Sen. Robert Menendez (D-N.J.) has argued that the export ban was put in place back in the 1970s to "protect U.S. consumers from volatility and price spikes." Allowing more exports, he argued, might cause U.S. gasoline prices to rise and hurt American consumers. And some environmental groups are leery of boosting fossil-fuel production even further.

Hydrae 11-30-2014 07:11 PM
Quote:
Originally Posted by scho63 (Post 11154344)
You must still read newspapers to get your current news, send all your bills by checks and the snail mail, use AOL dial up, have a push button home phone on the wall and have TV antennas for your 13 channels. :eek:

Your "news" is completely wrong.
Buttons on a phone? :spock: Not sure if serious...

scho63 12-01-2014 05:11 AM
Here Are The Breakeven Oil Prices For Every Drilling Project In The World
 
http://www.businessinsider.com/citi-...prices-2014-11

There is a better graphic online somewhere else for the second chart-I just can't remember this early in the a.m.

jjchieffan 12-01-2014 09:01 AM
Regular unleaded $2.32/ gallon in Republic, MO this morning. $2.27 at Walmart if you use your Walmart card.

Donger 12-08-2014 08:22 AM
Crude trading below $65 right now at $64.28. Gasoline at a four-year low at $2.66.

scho63 12-08-2014 01:42 PM
1 Attachment(s)
Crude still plunging! YEAH!!!! $63.31 DOWN OVER $2 A BARREL

Oil per barrel prices in the $50's very much in target. The glut with over production and quota cheating along with the strong US dollar is going to keep serious pressure on this market.

Oil has much further to plunge because the best part is that ALL the so called experts are now trying to predict a floor and saying oil is a screaming BUY. It never is when everyone agrees.

$1.75 - $2.00 a gallon gas is on it's way back....

This is a huge "TAX CUT" or "STIMULUS" for America. $350-$375 MILLION DOLLARS A DAY of extra money. How the hell can't that help???

Our company is saving over $3,000 a month in fuel costs!

HAPPY BIRTHDAY TO US!

lawrenceRaider 12-08-2014 01:53 PM
Quote:
Originally Posted by Baconeater (Post 11154710)
Other than some jobs being lost I'm failing to see what's bad about it.
Quote:
Originally Posted by Donger (Post 11154727)
That the Saudis/OPEC can attack and beat our "energy independence" that has been touted.
I read the other day that the cost of US based oil is much lower than previously thought, and that most could make a profit it it were at $40/barrel.

morphius 12-08-2014 02:01 PM
Quote:
Originally Posted by lawrenceRaider (Post 11178090)
I read the other day that the cost of US based oil is much lower than previously thought, and that most could make a profit it it were at $40/barrel.
Talked to a oil guy last week, and a bunch of the fracking they have down to $20 a barrel.

Buehler445 12-08-2014 04:37 PM
Quote:
Originally Posted by Donger (Post 11154683)
Well, it's exposed the weakness of our position. Our domestic output has been extraordinary, but it isn't economically-viable when crude is low. That's what I've been mentioning over the last year or so in this thread.

Crude plummeting isn't really a good thing all around.
Well, if prices go back to $140 a barrel, you can feel free to fuel my tractor for me.

KTHXBYE

Buehler445 12-08-2014 04:39 PM
Quote:
Originally Posted by morphius (Post 11178118)
Talked to a oil guy last week, and a bunch of the fracking they have down to $20 a barrel.
I don't think they can in my part of the world. Which is unfortunate. Oil production (the little that they've found...) has been a boost to the economy.

KC native 12-08-2014 05:01 PM
Quote:
Originally Posted by lawrenceRaider (Post 11178090)
I read the other day that the cost of US based oil is much lower than previously thought, and that most could make a profit it it were at $40/barrel.
Quote:
Originally Posted by morphius (Post 11178118)
Talked to a oil guy last week, and a bunch of the fracking they have down to $20 a barrel.
From the research reports I've been reading the floor in costs for fracking is $40-50 a barrel but trending down.

DaneMcCloud 12-08-2014 05:10 PM
$2.67 at Costco on Saturday. If it's this low in Cali, isn't it approaching $2 a gallon in the Midwest?

I'm looking forward to a road trip next summer!

hometeam 12-08-2014 05:22 PM
I paid 2.36 this morning in central mo

Coach 12-08-2014 05:23 PM
Quote:
Originally Posted by DaneMcCloud (Post 11178664)
$2.67 at Costco on Saturday. If it's this low in Cali, isn't it approaching $2 a gallon in the Midwest?

I'm looking forward to a road trip next summer!
It's 2.36 when I filled up last night.

Coach 12-08-2014 05:27 PM
Quote:
Originally Posted by Donger (Post 11154683)
Well, it's exposed the weakness of our position. Our domestic output has been extraordinary, but it isn't economically-viable when crude is low. That's what I've been mentioning over the last year or so in this thread.

Crude plummeting isn't really a good thing all around.
Well, I would have to respectfully disagree with you on there. When gas prices was in the $3 or higher, it would usually require me to fill between $50-$60 to fill up my tank.

Yesterday, I only had to pay $35. That extra $15-$20 is beneficial for me. Why? Because then I could use that extra $15-20 for whatever else I want to spend it on, which is good for businesses such as restaurants or stores that I normally go to.

Next time gas prices goes up back to $3 or more, you're more than welcome to send me a check, if you wish to.

BigMeatballDave 12-08-2014 05:29 PM
Quote:
Originally Posted by Coach (Post 11178695)
Well, I would have to respectfully disagree with you on there. When gas prices was in the $3 or higher, it would usually require me to fill between $50-$60 to fill up my tank.

Yesterday, I only had to pay $35. That extra $15-$20 is beneficial for me. Why? Because then I could use that extra $15-20 for whatever else I want to spend it on, which is good for businesses such as restaurants or stores that I normally go to.

Next time gas prices goes up back to $3 or more, you're more than welcome to send me a check, if you wish to.
Do you remember the last time oil fell like this?

DaneMcCloud 12-08-2014 05:30 PM
Quote:
Originally Posted by BigMeatballDave (Post 11178698)
Do you remember the last time oil fell like this?
I don't. What happened?

BigMeatballDave 12-08-2014 05:33 PM
Quote:
Originally Posted by DaneMcCloud (Post 11178699)
I don't. What happened?
2008/2009 Economy went to shit. Massive layoffs.

DaneMcCloud 12-08-2014 05:36 PM
Quote:
Originally Posted by BigMeatballDave (Post 11178702)
2008/2009 Economy went to shit. Massive layoffs.
But that was a very different economy and for very different reasons.

I thought you were referring to something different. Low gasoline prices will put an estimated $600-$700 billion back into the economy, which can only be seen as a good thing.

By 2025, an estimated 50% of the cars on the road will be electric, further reducing the need for gasoline.

Coach 12-08-2014 07:17 PM
Quote:
Originally Posted by BigMeatballDave (Post 11178702)
2008/2009 Economy went to shit. Massive layoffs.
Different economy.

Quote:
It’s also worth noting that many economists see this year’s crude crash as positive overall for the world economy, with the resulting lower gasoline prices, for example, putting more money in the average American’s pocket. Read more: Falling oil prices ‘like a tax cut’ for economy

There are worries that oil’s plunge indicates a global slowdown, but the International Monetary Fund has pinned 80% of the fall on supply-side causes, such as OPEC’s moves. Only 20% of the drop is due to declining demand from slowing growth, according to the IMF.
http://www.marketwatch.com/story/oil...008-2014-12-08

hometeam 12-08-2014 07:20 PM
I saw some conspiracy theory about how the US and Saudi Arabia are colluding to lower oil prices to **** Russia over even harder while they are weak from all the international pressure over the Ukraine thing.

Anyone who knows about that kind of shit care to comment on any validity to that theory?

Reerun_KC 12-08-2014 07:39 PM
$2.19

Donger 12-08-2014 07:55 PM
Quote:
Originally Posted by Coach (Post 11178695)
Well, I would have to respectfully disagree with you on there. When gas prices was in the $3 or higher, it would usually require me to fill between $50-$60 to fill up my tank.

Yesterday, I only had to pay $35. That extra $15-$20 is beneficial for me. Why? Because then I could use that extra $15-20 for whatever else I want to spend it on, which is good for businesses such as restaurants or stores that I normally go to.

Next time gas prices goes up back to $3 or more, you're more than welcome to send me a check, if you wish to.
You can disagree, but the fundamentals of why this is happening aren't sustainable at $60.00 crude. I understand that it's good for the consumer now, but a few years from now, it may not be a good thing for America.

Donger 12-08-2014 07:58 PM
Quote:
Originally Posted by BigMeatballDave (Post 11178702)
2008/2009 Economy went to shit. Massive layoffs.
True, but this is a very different scenario being played out. Our massive production increase is the major reason crude is falling now, not a global recession. I don't see it going anywhere near what happened in late 2008, when crude got to what, $40?, but who knows. I still think that OPEC is not cutting their production to kill new shale E&P. They are thinking years out, not now.

Donger 12-08-2014 07:59 PM
Quote:
Originally Posted by hometeam (Post 11178868)
I saw some conspiracy theory about how the US and Saudi Arabia are colluding to lower oil prices to **** Russia over even harder while they are weak from all the international pressure over the Ukraine thing.

Anyone who knows about that kind of shit care to comment on any validity to that theory?
I would view that theory with a massive amount of skepticism.

stonedstooge 12-08-2014 08:04 PM
How long till the Feds are going to want more taxes on gasoline?

Buzz 12-08-2014 08:20 PM
Donger, I think your trolling. America cant rely on energy from other nations, see world wars and the problems that's caused. Throw in climate change, going green, and crushing the economys of people we don't place nice with. Saudi Arabia sees it coming and without oil, it will be a sand dune. It's a poker hand and everyone is playing.

Donger 12-08-2014 08:23 PM
Quote:
Originally Posted by Buzz (Post 11179010)
Donger, I think your trolling. America cant rely on energy from other nations, see world wars and the problems that's caused. Throw in climate change, going green, and crushing the economys of people we don't place nice with. Saudi Arabia sees it coming and without oil, it will be a sand dune. It's a poker hand and everyone is playing.
Sorry, but this post makes very little sense to me.

KChiefs1 12-08-2014 08:28 PM
Just filled up today at Hy-Vee for .99.9/gallon.

Of course I used my Hy-Vee card but still it felt amazing.

Donger 12-08-2014 08:32 PM
Quote:
Originally Posted by stonedstooge (Post 11178970)
How long till the Feds are going to want more taxes on gasoline?
That's already happening, even among the GOP.

TribalElder 12-08-2014 08:37 PM
I've been buying premium since the prices have been so low

Donger 12-08-2014 08:39 PM
Quote:
Originally Posted by TribalElder (Post 11179048)
I've been buying premium since the prices have been so low
Don't buy it if your engine doesn't require it.

Buzz 12-08-2014 08:41 PM
Quote:
Originally Posted by Donger (Post 11179020)
Sorry, but this post makes very little sense to me.
Kinda of what I thought, troll away.

Donger 12-08-2014 08:42 PM
Quote:
Originally Posted by Buzz (Post 11179059)
Kinda of what I thought, troll away.
How exactly am I trolling?

penguinz 12-08-2014 08:42 PM
Quote:
Originally Posted by TribalElder (Post 11179048)
I've been buying premium since the prices have been so low
Waste of $ if your engine does not require it.

scho63 12-09-2014 06:39 AM
Quote:
Originally Posted by DaneMcCloud (Post 11178664)
$2.67 at Costco on Saturday. If it's this low in Cali, isn't it approaching $2 a gallon in the Midwest?

I'm looking forward to a road trip next summer!
It's $1.95 in Tulsa OK

007 12-09-2014 06:53 AM
Quote:
Originally Posted by Baconeater (Post 11154536)
That's with Kroger fuel points, he must have got $1 off/gal. I filled both our vehicles and a 5 gallon gas can for the same price today.
Yep. Looking forward to it hitting 1.99 so I can get .99 per gallon. :D

007 12-09-2014 06:55 AM
Quote:
Originally Posted by Baconeater (Post 11154666)
It's not a bad deal, but we have to spend $1,000/mo to get that much of a discount.
No you don't. wait for the quadruple points for gift cards. Then buy cards for the places you shop anyway. Otherwise, we only buy stuff we normally buy anyway at Kroger that is on sale and get the rest from walmart where the prices are actually lower.

You can really rack up the points at Christmas. LMAO

Buehler445 12-09-2014 11:38 AM
Quote:
Originally Posted by BigMeatballDave (Post 11178702)
2008/2009 Economy went to shit. Massive layoffs.
The dive was a liquidity shortage. The recession wasn't because of the oil price.

Quote:
Originally Posted by Donger (Post 11178952)
True, but this is a very different scenario being played out. Our massive production increase is the major reason crude is falling now, not a global recession. I don't see it going anywhere near what happened in late 2008, when crude got to what, $40?, but who knows. I still think that OPEC is not cutting their production to kill new shale E&P. They are thinking years out, not now.
That's what I've read.

Mojo Rising 12-09-2014 12:03 PM
Quote:
Originally Posted by Donger (Post 11004753)
That doesn't make much sense. If OPEC increases production, yes, crude will drop even more. To the point where new Gulf E&P and shale production stops. If they then lower production and raise prices, those two will start back up.

Now, if they increase production and leave it there...
I still think that they are trying to slow down our production. New oil leases are down 40%.

Donger 12-09-2014 05:34 PM
Wow. Of course, it's a government prediction, but...

The Energy Department again slashed its prediction for next year's average price of gasoline across the U.S., this time to $2.60 a gallon. That would be 23 percent below this year's projected average and the lowest full-year average since 2009.

If that comes to pass, the price drop will save U.S. drivers $100 billion over the course of the year based on current consumption levels. That will boost the overall economy by reducing shipping and transportation costs, and leaving consumers more money to spend on other things.

In its most recent short-term energy outlook, released Tuesday, the Energy Department's Energy Information Administration cut its gasoline price forecast for 2015 by 35 cents a gallon. It was the second time in two months that the EIA cut the forecast by more than 30 cents a gallon.

The average national price of gasoline to $2.66 a gallon on Tuesday according to AAA, 61 cents less than last year at this time. The national average has fallen every day since September 26.

The steep drop in gasoline prices is a result of a drop in crude oil supplies. Global crude prices have fallen to around $66 per barrel from a June high of $115 per barrel. Global supplies are high thanks in part to rising production in the U.S., while global demand is relatively weak because of slowing economic growth in Europe and Asia.

The lower crude prices are forcing oil companies to scale back drilling plans for next year. As a result, the EIA trimmed its forecast for U.S. production growth. U.S. crude oil output is expected to rise by 300,000 barrels per day to 9.3 million barrels a day. The EIA had previously expected production to rise by 400,000 barrels per day.

Despite a colder than normal November, the EIA expects home heating costs to fall this winter compared to last year. Weather forecasters do not expect a repeat of last year's consistently low temperatures, and prices for propane and heating oil are much lower than last year.

007 12-10-2014 01:35 AM
Thanks to a buck off with Kroger fuel points, I filled up for 1.33 per gallon today. My son was in shock when he saw the per gallon price. LMAO Filled up three cars on that one trip.

DaneMcCloud 12-10-2014 01:45 AM
Quote:
Originally Posted by Guru (Post 11181878)
Thanks to a buck off with Kroger fuel points, I filled up for 1.33 per gallon today. My son was in shock when he saw the per gallon price. LMAO Filled up three cars on that one trip.
Outstanding!

007 12-10-2014 01:49 AM
Quote:
Originally Posted by DaneMcCloud (Post 11181883)
Outstanding!
When we got to 10 gallons and hadn't hit 20 bucks yet I had to do a doubletake. LMAO

DaneMcCloud 12-10-2014 01:52 AM
Quote:
Originally Posted by Guru (Post 11181885)
When we got to 10 gallons and hadn't hit 20 bucks yet I had to do a doubletake. LMAO
That's awesome. I was stoked at $2.67 last week. A buck less would be insane.

Kaepernick 12-10-2014 02:48 AM
Quote:
Originally Posted by BigMeatballDave (Post 11178702)
2008/2009 Economy went to shit. Massive layoffs.
2008 was a liquidity crisis/financial deleveraging.

The only time in my lifetime that oil really devalued was in 1986 under Reagan. I forget how Reagan broke OPEC, but in 1986, we actually experienced DEFLATION because of the plunge in oil prices. The net result was massive growth in the US economy in 1987 and 1988. Cheap energy led to a huge US economic expansion.

It was a WONDERFUL thing for our economy. Unless you lived in Texas. Texas went into a strong economic depression due to the oil price collapse. For the rest of America, it was a huge economic boon to have cheap energy and reduced costs.

I also think it is no coincidence that the collapse of oil prices assisted the rise of the family SUV as a staple. Before that, it was too expensive to fill the tank. Now people are hooked on their SUVs and willing to spend $120 a tank at $4.00/gallon, but they would never have stood for that in 1982.



Quote:
Originally Posted by eia.gov

Crude Oil Price Collapse of 1986
Description:

Faced with declining world oil demand and increasing non-OPEC production, OPEC cut output significantly in the first half of the 1980s to defend its official price. Saudi Arabia, which played the role of swing producer in the cartel, bore most of the production cuts. Saudi Arabia crude oil product, which peaked at over 10 million barrels per day for the period October 1980 through August 1981, fell to just 2.3 million barrels per day by August 1985. In late 1985, Saudi Arabia abandoned its swing-producer role, increased production, and aggressively moved to increase market share. Saudi Arabia tried a netback-pricing concept, which tied crude oil prices to the value of refined petroleum products. This reversed traditional economic relationships by guaranteeing specific margins to refiners, thereby transferring risk from the crude oil purchaser to the producer.

In response, other OPEC members also increased production and offered netback-pricing arrangements to maintain market share and to offset declining revenues. These actions resulted in a glut of crude oil in world markets, and crude oil prices fell sharply in early 1986.

Industry Action/Reaction:

By July 1986, the average per-barrel free on board (F.O.B) price for OPEC crude oil had dropped from $23.29 in December 1985 to $9.85, and prices for crude oil from non-OPEC countries were following a similar path.

The collapse of crude oil prices in 1986 reversed the upward trend in U.S. production of the first half of the decade. Many high-cost wells, which became productive after the oil crisis of 1978-1980, became unprofitable in 1986 and were shut in. Domestic crude oil production began dropping in early 1986. After the world price fell more than 50 percent between January and March 1986, drilling plummeted. Since then, domestic drilling and production have gradually declined.

The net effect of the decline in domestic production beginning in 1986 was an increase in crude oil imports, which climbed from 3.2 million barrels per day in 1985 to 9.1 million barrels per day in 2000. Most of this increase was met by OPEC, whose share of total U.S. crude oil imports rose from 41 percent in 1985 to 60 percent in 1990, before dropping to 46 percent in 1995-1997. Since 1998, the share has gradually increased, reaching 51 percent in 2000.

Oil company investments began shifting to foreign oil exploration and production after the 1986 price drop.(28) Foreign fields are generally much larger than in the United States and average production costs are lower. Changes in policy in the former Soviet Union since 1991 have increased U.S. production investment there, (29) and recent moves toward foreign investments in Mexico have attracted American exploration and production companies. (30)

Results:

The sharp drop in crude oil prices pushed U.S. petroleum demand steadily higher in the second half of the decade. From 1985 to 2000, demand climbed from 15.7 million barrels per day to 19.5 million barrels per day.

Until 1986, the value of U.S. petroleum imports comprised between 15 percent and 32 percent of all imported goods. The steep decline in petroleum prices in 1986 reduced petroleum's portion of the U.S. trade deficit.

The economy expanded at a faster pace in 1987 and 1988. Low petroleum prices stimulated growth in industrial production, employment increased,(31) and travel picked up. Temporary conservation measures that had been instituted during earlier oil price escalations were discontinued. The overall energy intensity of the economy (measured by the ratio of total energy consumption to the constant dollar level of the Gross Domestic Product), a reflection of energy conservation,(32) did not increase between 1986 and 1988.

BigMeatballDave 12-10-2014 03:51 AM
Thank you, everyone for piling on my ignorance. :D

Jimmya 12-10-2014 06:16 AM
Love driving the SUV's.

scho63 12-10-2014 06:53 AM
1 Attachment(s)
Oil on it's way into the $50's. :thumb:

:toast::toast:PBJ:grouphug::hump::bong::rockon::whackit::usa:

Donger 12-10-2014 10:02 AM
I'm starting to think that we could be on the way to $50.00 crude. Now at $62.12.

scho63 12-10-2014 12:21 PM
OIL READY TO CRASH THROUGH $61 A BARREL!!!! WAS DOWN NEARLY $3 A BARREL

IT'S A BLOODBATH AT THE ENERGY PITS FOR OIL TRADERS

Discuss Thrower 12-10-2014 12:28 PM
So how do I make money on knowing oil is going to spike back up to $90+/barrel in the next year or so?

scho63 12-10-2014 12:37 PM
Quote:
Originally Posted by Discuss Thrower (Post 11182756)
So how do I make money on knowing oil is going to spike back up to $90+/barrel in the next year or so?
It will not.......save your money. This is not a short term trend.

You could buy oil drilling or refinery stocks or an oil MLP. If you really want to lose all your money buy or trade CALL options on Oil Futures. Unless you have a net worth of $1,000,000 and tons of experience, you better not play the futures because you can lose a lot MORE than just your original investment! :eek:

TinyEvel 12-10-2014 12:39 PM
Quote:
Originally Posted by Guru (Post 11181878)
Thanks to a buck off with Kroger fuel points, I filled up for 1.33 per gallon today. My son was in shock when he saw the per gallon price. LMAO Filled up three cars on that one trip.
OMG ultimate GURU moment

<a href="http://gifsoup.com/view/2220045/jimp.html" target="_blank"><img src="http://stream1.gifsoup.com/view3/2220045/jimp-o.gif" border="0"/></a><br /><a href="http://gifsoup.com" title="GIFSoup" target="_blank">GIFSoup</a>

KC native 12-10-2014 02:32 PM
Quote:
Originally Posted by Discuss Thrower (Post 11182756)
So how do I make money on knowing oil is going to spike back up to $90+/barrel in the next year or so?
Buy futures or an etf (USO is oil, UGA is gasoline).

Given your employment situation and lack of liquidity, I would stay away from futures.

KC native 12-10-2014 02:34 PM
Quote:
Originally Posted by scho63 (Post 11182785)
It will not.......save your money. This is not a short term trend.

You could buy oil drilling or refinery stocks or an oil MLP. If you really want to lose all your money buy or trade CALL options on Oil Futures. Unless you have a net worth of $1,000,000 and tons of experience, you better not play the futures because you can lose a lot MORE than just your original investment! :eek:
MLPs are pipelines or other hard assets. In theory, they should not be hurt by declining prices because they are paid to transport the oil/gas. Most of them have contracts where they get paid even if the pipe sits idle.

Tax treatments for MLPs are a little wonky as well. You can really **** yourself tax wise when you sell them if you've held an MLP for awhile.

Donger 12-12-2014 08:46 AM
Well, crude has pushed through the $60 barrier. Now at $58.44. Gasoline at $2.60, $0.70 less than one year ago.

Buehler445 12-12-2014 11:31 AM
Quote:
Originally Posted by Discuss Thrower (Post 11182756)
So how do I make money on knowing oil is going to spike back up to $90+/barrel in the next year or so?
Call option on the futures market is all I know to do. DO NOT buy a contract. Margin calls will own your soul unless you pick THE bottom.

I'd be sure to see that it puts in what appears to be a bottom first. No point in getting in on the way down, time value will just cost you money.

Buehler445 12-12-2014 11:32 AM
Quote:
Originally Posted by KC native (Post 11183018)
Buy futures or an etf (USO is oil, UGA is gasoline).

Given your employment situation and lack of liquidity, I would stay away from futures.
Is the ETF on the futures or some stocks in the industry?

Donger 12-12-2014 11:37 AM
Wow. $57.49, down $2.46 or 4.10%

Rausch 12-12-2014 11:39 AM
Putin stupidity about to be making mo-fo's rich...

thabear04 12-12-2014 11:44 AM
2.65 today in my town. Haven't seen that price in a while.

BlackHelicopters 12-12-2014 03:23 PM
2.15 here

WhawhaWhat 12-12-2014 03:26 PM
$2.19 at Inner City Oil on Linwood.

KC native 12-12-2014 03:41 PM
Quote:
Originally Posted by Buehler445 (Post 11186947)
Is the ETF on the futures or some stocks in the industry?
USO
Quote:
United States Oil Fund

The United States Oil Fund® LP (USO) is an exchange-traded security designed to track the daily price movements of West Texas Intermediate ("WTI") light, sweet crude oil. USO issues shares that may be purchased and sold on the NYSE Arca.

The investment objective of USO is for the daily changes in percentage terms of its shares' NAV to reflect the daily changes in percentage terms of the spot price of light, sweet crude oil delivered to Cushing, Oklahoma, as measured by the daily changes in price of USO's Benchmark Oil Futures Contract, less USO's expenses.

USO's Benchmark is the near month crude oil futures contract traded on the NYMEX. If the near month futures contract is within two weeks of expiration, the Benchmark will be the next month contract to expire. The crude oil contract is WTI light, sweet crude oil delivered to Cushing, Oklahoma.

USO invests primarily in listed crude oil futures contracts and other oil-related futures contracts, and may invest in forwards and swap contracts. These investments will be collateralized by cash, cash equivalents, and US government obligations with remaining maturities of two years or less.
UGA

Quote:
United States Gasoline Fund

The United States Gasoline Fund® LP (UGA) is an exchange-traded security that is designed to track in percentage terms the movements of gasoline prices. UGA issues shares that may be purchased and sold on the NYSE Arca.

The investment objective of UGA is for the daily changes in percentage terms of its shares' NAV to reflect the daily changes in percentage terms of the price of gasoline (also known as reformulated gasoline blendstock for oxygen blending, or "RBOB"), for delivery to the New York harbor, as measured by the daily changes in the price the Benchmark Futures Contract, less UGA's expenses.

The Benchmark Futures Contract is the futures contract on gasoline as traded on the NYMEX. If the near month contract is within two weeks of expiration, the Benchmark will be the next month contract to expire. The RBOB contract is for delivery to the New York harbor.

UGA invests primarily in listed RBOB futures contracts and other gasoline-related futures contracts, and may invest in forwards and swap contracts. These investments will be collateralized by cash, cash equivalents, and US government obligations with remaining maturities of two years or less.

notorious 12-12-2014 03:52 PM
Quote:
Originally Posted by Buehler445 (Post 11186947)
Is the ETF on the futures or some stocks in the industry?
Why in the **** is our gas still 2.65 when everyone else east, west, south and north of our area is around 2.25?

Donger 12-12-2014 03:53 PM
Quote:
Originally Posted by notorious (Post 11187418)
Why in the **** is our gas still 2.65 when everyone else east, west, south and north of our area is around 2.25?
Where are you?

notorious 12-12-2014 03:57 PM
Quote:
Originally Posted by Donger (Post 11187422)
Where are you?
Southwest Kansas.


I am just venting. Wichita is cheap. OKC is really cheap. Guymon, Ok is cheap.

Donger 12-12-2014 04:10 PM
Quote:
Originally Posted by notorious (Post 11187432)
Southwest Kansas.


I am just venting. Wichita is cheap. OKC is really cheap. Guymon, Ok is cheap.
I would guess that it's a distribution cost more than anything compared to those places you mentioned.

GloryDayz 12-12-2014 08:31 PM
Sioux Falls, SD a few days ago. http://tapatalk.imageshack.com/v2/14...9a8c546ead.jpg

phisherman 12-12-2014 08:46 PM
$2.19 in Lee's Summit tonight.

penguinz 12-12-2014 09:01 PM
Quote:
Originally Posted by phisherman (Post 11187943)
$2.19 in Lee's Summit tonight.
I paid $2.29 in LS last night. :( I could have saved $1.50 if I waited! :p

Kaepernick 12-12-2014 09:10 PM
SUV sales are gonna boom.


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