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Old 04-23-2007, 09:40 AM  
Donger Donger is offline
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Gasoline at $4 Coming to a Pump Near You, Unfazed by Rising Tab

http://www.bloomberg.com/apps/news?p...d=afOlUzd30YOo

Pretty alarmist, IMO, but possible.

Spoiler!

Last edited by Donger; 10-10-2014 at 02:43 PM..
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Old 12-02-2008, 08:46 PM   #1486
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Quote:
Originally Posted by frazod View Post
Damn, it's $1.62 up here, even with all our outrageous taxes.

You're getting screwed.
It's been holding at $1.57 here for a few days now.
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Old 12-02-2008, 08:49 PM   #1487
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Quote:
Originally Posted by Guru View Post
Drove by all 5 stations in my region of the city. All of them were above 1.60.

I just don't get topeka this year. It's like they want to be closer to the national average for some reason.
Well, you are in Topeka.
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Old 12-02-2008, 08:50 PM   #1488
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Quote:
Originally Posted by frazod View Post
It's kind of funny that we're bitching about gas under $1.70 as being too expensive, isn't it?
I'm not bitching about it being too expensive. I'm bitching that KC is cheaper.
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Old 12-02-2008, 08:50 PM   #1489
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Quote:
Originally Posted by Donger View Post
Well, you are in Topeka.
Nope.
topuka
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Old 12-02-2008, 09:13 PM   #1490
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Quote:
Originally Posted by Guru View Post
I'm not bitching about it being too expensive. I'm bitching that KC is cheaper.
You should move to Missouri.
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Old 12-02-2008, 09:15 PM   #1491
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Quote:
Originally Posted by Donger View Post
Crude closed down $2.32 (4.71%) @ $46.96 today. National retail average is now $1.81
Which is precisely what I paid to fill up the rig today.
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Old 12-02-2008, 09:16 PM   #1492
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Quote:
Originally Posted by frazod View Post
You should move to Missouri.
Nah, I want to be closer to the Rocky's not farther. heh
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Old 12-04-2008, 03:57 PM   #1493
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The fall continues...

Crude closed down $3.12 (6.67%) @ $43.67 today.
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Old 12-04-2008, 04:10 PM   #1494
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Quote:
Originally Posted by Donger View Post
The fall continues...

Crude closed down $3.12 (6.67%) @ $43.67 today.
Wow. I wonder how much more it will fall?
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Old 12-04-2008, 04:15 PM   #1495
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Originally Posted by BigChiefDave View Post
Wow. I wonder how much more it will fall?
IMO, it's undervalued now. I still say that in a good economy, the price should be $60-$70. But, barring any major changes to the global economy, I think low-$30s is possible.
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Old 12-04-2008, 04:21 PM   #1496
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The CEO of Gulf Oil disagrees.

http://www.patriotledger.com/busines...s-prices-ahead

Gulf Oil CEO says gas could hit $1 next year


RANDOLPH —
Gulf Oil CEO Joe Petrowski said on Wednesday that the price of oil could sink to $20 per barrel, and there is a chance gasoline prices could drop as low as $1 per gallon by early next year.

Speaking at a South Shore Chamber of Commerce breakfast at Lombardo’s in Randolph, the Brockton native said that after speculators drove oil prices up, there is a chance that the market will overshoot on the way back down, resulting in much lower prices at the pump.

Gas prices have already sunk fairly rapidly this fall, reaching a statewide average of $1.85 for a gallon of regular-grade gasoline this week, following a plunge in crude oil prices.

Gulf Oil, which is based in Newton, is not an oil producer. Gulf stopped producing oil in 1986 and stopped refining oil in 1992, according to Petrowski. He said the company is a “fuel agnostic” wholesaler, and will sell whichever fuels customers and distributors demand.

Though he said the company benefits from lower energy prices, he said he believes the price of oil should range from $40 to $60 per barrel, depending on economic activity, in order to keep pace with inflation.

Petrowski said that policymakers should make low-cost energy a goal by investing in alternative energy sources, increasing domestic oil reserves, and diversifying the foreign origins of oil so as to be less dependent on unfriendly countries.

While he said he believes global warming is a danger, Petrowski is not sure there is as much of a correlation between carbon and global warming as some environmentalists claim.

“Carbon is our greatest threat – there’s another myth,” he said. “I do think economic devastation and reliance on foreign supplies of oil (are).”

Since gas prices peaked in July, Petrowski said some people have resumed driving habits that they avoided when gasoline was $4 a gallon in the summer. But he said he hopes that the motivation to create alternative energy sources will not be lost.

Gulf opened its first E85 ethanol fueling station at Logan Airport in October – just as gasoline prices sank and the demand for ethanol decreased. “Ethanol’s not a great business right now, but it will be,” Petrowski said.
He said that cellulosic ethanol will eventually replace corn-based ethanol, and that he thinks the U.S. should eventually get rid of the import tax on ethanol from places like Brazil.

Petrowski said that New England’s energy future is bright, with research and development going on at local universities as well as access to gasoline from refineries in Canada, the mid-Atlantic region, the Caribbean and Europe. “We’re no longer at the end of the pipe,” he said.
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Old 12-04-2008, 04:24 PM   #1497
Donger Donger is offline
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Quote:
Originally Posted by frazod View Post
The CEO of Gulf Oil disagrees.

http://www.patriotledger.com/busines...s-prices-ahead

Gulf Oil CEO says gas could hit $1 next year


RANDOLPH —
Gulf Oil CEO Joe Petrowski said on Wednesday that the price of oil could sink to $20 per barrel, and there is a chance gasoline prices could drop as low as $1 per gallon by early next year.

Speaking at a South Shore Chamber of Commerce breakfast at Lombardo’s in Randolph, the Brockton native said that after speculators drove oil prices up, there is a chance that the market will overshoot on the way back down, resulting in much lower prices at the pump.

Gas prices have already sunk fairly rapidly this fall, reaching a statewide average of $1.85 for a gallon of regular-grade gasoline this week, following a plunge in crude oil prices.

Gulf Oil, which is based in Newton, is not an oil producer. Gulf stopped producing oil in 1986 and stopped refining oil in 1992, according to Petrowski. He said the company is a “fuel agnostic” wholesaler, and will sell whichever fuels customers and distributors demand.

Though he said the company benefits from lower energy prices, he said he believes the price of oil should range from $40 to $60 per barrel, depending on economic activity, in order to keep pace with inflation.

Petrowski said that policymakers should make low-cost energy a goal by investing in alternative energy sources, increasing domestic oil reserves, and diversifying the foreign origins of oil so as to be less dependent on unfriendly countries.

While he said he believes global warming is a danger, Petrowski is not sure there is as much of a correlation between carbon and global warming as some environmentalists claim.

“Carbon is our greatest threat – there’s another myth,” he said. “I do think economic devastation and reliance on foreign supplies of oil (are).”

Since gas prices peaked in July, Petrowski said some people have resumed driving habits that they avoided when gasoline was $4 a gallon in the summer. But he said he hopes that the motivation to create alternative energy sources will not be lost.

Gulf opened its first E85 ethanol fueling station at Logan Airport in October – just as gasoline prices sank and the demand for ethanol decreased. “Ethanol’s not a great business right now, but it will be,” Petrowski said.
He said that cellulosic ethanol will eventually replace corn-based ethanol, and that he thinks the U.S. should eventually get rid of the import tax on ethanol from places like Brazil.

Petrowski said that New England’s energy future is bright, with research and development going on at local universities as well as access to gasoline from refineries in Canada, the mid-Atlantic region, the Caribbean and Europe. “We’re no longer at the end of the pipe,” he said.
He has a good point. Are they going to undervalue it just as they over-valued it?
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Old 12-04-2008, 04:34 PM   #1498
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Originally Posted by Donger View Post
He has a good point. Are they going to undervalue it just as they over-valued it?
Hope so. Dollar-a-gallon gas definitely works for me.
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Old 12-04-2008, 04:45 PM   #1499
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Hope so. Dollar-a-gallon gas definitely works for me.

They bent us over for so long, i figure they have had it coming for far too long.

Screw em.
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Old 12-04-2008, 04:51 PM   #1500
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Be careful what you wish for. At $30/barrel, the oil companies will not invest in new E&P.
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