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Hello $3.00 a gallon again

Old 11-05-2010, 05:18 AM
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Default Hello $3.00 a gallon again

I say there is at least a 50/50 chance of seeing it by Christmas. Oil is up $18+ a barrel in less than 2 months. It is going up because...oh that's right, demand is still down and supply is still up so exactly why is it rising? Couldn't be pesky speculators. The next superspike will come as the economy rights.

It has been too long since the last oil thread so I just figured I would break the ice.
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Old 11-05-2010, 05:20 AM
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Already here in the great state of CT

It's going up because the dollar is going down down down.......

Last edited by davidd; 11-05-2010 at 05:43 AM.
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Old 11-05-2010, 05:21 AM
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Election is over. Nobody has to worry for 2 years. See a pattern? Oh well, shut up and pay.

Just like did you notice the "terror threats" right before the election. LOL. People fall for the same thing over and over and over. It's sort of pathetic.
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Old 11-05-2010, 05:28 AM
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The price of oil, in US dollars, has gone up as the Federal Reserve has printed new money to buy US debt. In other words, our government is devaluing our currency, so imported commodities like oil cost more dollars. But just remember, Bernanke assures us this "quantitative easing" will not cause inflation. Right...
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Old 11-05-2010, 05:47 AM
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Its a cycle. Higher cost of gas will mean people will cut back on other spending which will send us back into recession. I believe that $140 oil was a contributor to the recession.
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Old 11-05-2010, 05:50 AM
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Originally Posted by paulyjsob View Post
Its a cycle. Higher cost of gas will mean people will cut back on other spending which will send us back into recession. I believe that $140 oil was a contributor to the recession.

Totally agree. Know that Goldman Sachs is leering from the sidelines with a major position in both paper and liquid oil. They will do what they did last time to contribute to the spike and then dump everything for a massive windfall and the cycle will start again.

Wasn't it just a few months ago when someone at Goldman bragged how they had pulled oil from the $30's to the $70's in a short time?
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Old 11-05-2010, 05:54 AM
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I'm completely for a free market.. But when a commodity has SUCH a high impact on the world economy, something needs to be done. Speculators have WAY too much control over world economies.
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Old 11-05-2010, 06:00 AM
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[quote=OldPete;3322515].

Just like did you notice the "terror threats" right before the election. LOL.quote]

I would say actual bombs on airplanes are more than a threat..I call that an attempt...
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Old 11-05-2010, 06:05 AM
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Setting up for another big fall. To much ,to fast, with no foundation. Questions is when and how big. I am guessing shortly after years end (after the hollidays) we will see another big fall after this big rise.
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Old 11-05-2010, 06:09 AM
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Originally Posted by paulyjsob View Post
Its a cycle. Higher cost of gas will mean people will cut back on other spending which will send us back into recession. I believe that $140 oil was a contributor to the recession.
Noooooo, you don't say. Everything has a breaking point and the rate of climb oil prices exhibited was destine to break the economy! And GREED the illness was the motive!
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Old 11-05-2010, 06:16 AM
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Originally Posted by JAGSARE1 View Post
I say there is at least a 50/50 chance of seeing it by Christmas. Oil is up $18+ a barrel in less than 2 months. It is going up because...oh that's right, demand is still down and supply is still up so exactly why is it rising? Couldn't be pesky speculators. The next superspike will come as the economy rights.

It has been too long since the last oil thread so I just figured I would break the ice.
The US economy is lagging other economies in recovering. Worldwide demand for energy is rising. Worldwide demand for oil is rising. Oil is mainly priced based on worldwide demand and supply (refinery configurations have made the US more dependent on certain types of oil but lets leave this to one side).

Because the US is still investing huge amounts of dollars in military actions which have limited economic benefit in the US, we are in effect throwing money away. Throw money away and your economy suffers. So the value of the US dollar has dropped and will probably drop more.

Oil is priced in dollars. Make the dollar cheaper and the price of oil is bid up by China or India or .... who want more oil.

Not pretty being in a country which is sliding downhill. This has been underway since 2003 when we invaded Iraq in my opinion.

Oil is $86-87 now. It can lift back to $120-130 in 2011. Fill your gas tanks now.
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Old 11-05-2010, 06:31 AM
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Doesn't it normally go up this time of year because people start speculating on how cold the winter will be and the price of fuel oil to heat houses?
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Old 11-05-2010, 06:40 AM
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[QUOTE=Cracker;3322568]
Originally Posted by OldPete View Post
.

Just like did you notice the "terror threats" right before the election. LOL.quote]

I would say actual bombs on airplanes are more than a threat..I call that an attempt...
Huh-Huh. Hold on, I'm looking for some WMDs.

People still buying this crap, eh?
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Old 11-05-2010, 06:46 AM
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Originally Posted by Pierless View Post
The US economy is lagging other economies in recovering. Worldwide demand for energy is rising. Worldwide demand for oil is rising. Oil is mainly priced based on worldwide demand and supply (refinery configurations have made the US more dependent on certain types of oil but lets leave this to one side).

Because the US is still investing huge amounts of dollars in military actions which have limited economic benefit in the US, we are in effect throwing money away. Throw money away and your economy suffers. So the value of the US dollar has dropped and will probably drop more.

Oil is priced in dollars. Make the dollar cheaper and the price of oil is bid up by China or India or .... who want more oil.

Not pretty being in a country which is sliding downhill. This has been underway since 2003 when we invaded Iraq in my opinion.

Oil is $86-87 now. It can lift back to $120-130 in 2011. Fill your gas tanks now.
Add to this, what happens if and WHEN OPEC decides that it is time to trade oil in something other than dollars because they are tired of the instability of the unit? At that point, we'll be at an even greater disadvantage.

But hey, we elected a guy who convinced the masses that there was a "wer on terrer". And then, just when you thought it couldn't get worse... we got Obama. LOL.

People can't understand basic economics, but they can tell you who had the most touchdowns or some such worthless crap.

Sorry for the political tirade -- it just gets a little frustrating.
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Old 11-05-2010, 06:53 AM
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I've mentioned this before. What right does GS have to buy oil in the 1st place? Answer: It's a free market/world (for the most part). My problem with it is they never take possession and only do it for monetary gain. I know, I know, just like any day trader/stock buyer. A difference is people choose whether or not to "play" the market. They know their are market manipulators out there and they willingly take that chance. People do not have a choice in buying fuel. They have to pay whatever the price. Something that effects the global economy so much should not be allowed to be manipulated. If congress wanted to they could pass regulations as to who/what can purchase oil. Oil is harmful to the environment (I guess) they won't let you dump used oil in your trash. They say refrigerants are harmful to the environment and they regulate who can buy that. I say you must own a refinery/power company or you don't get to buy oil/natural gas.

Ok - let me have it. Why won't my stupid idea work? (other than big oil lobbyists standing in the way)
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Old 11-05-2010, 06:58 AM
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Originally Posted by baypro21 View Post
I've mentioned this before. What right does GS have to buy oil in the 1st place? Answer: It's a free market/world (for the most part). My problem with it is they never take possession and only do it for monetary gain. I know, I know, just like any day trader/stock buyer. A difference is people choose whether or not to "play" the market. They know their are market manipulators out there and they willingly take that chance. People do not have a choice in buying fuel. They have to pay whatever the price. Something that effects the global economy so much should not be allowed to be manipulated. If congress wanted to they could pass regulations as to who/what can purchase oil. Oil is harmful to the environment (I guess) they won't let you dump used oil in your trash. They say refrigerants are harmful to the environment and they regulate who can buy that. I say you must own a refinery/power company or you don't get to buy oil/natural gas.

Ok - let me have it. Why won't my stupid idea work? (other than big oil lobbyists standing in the way)
Nice idea. Oil trading is done from the US and London, Geneva, Singapore, Dubai, etc. Ban it in the US and the other locations will pick up the slack. My guess is a ban in the US will not put a dent in oil trades.
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Old 11-05-2010, 07:05 AM
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Originally Posted by JAGSARE1 View Post
I say there is at least a 50/50 chance of seeing it by Christmas.








It's pretty much been $3+/gal since last Christmas around here...

Super has been $3.15 to $3.29. 87 has mostly been $3.02 to $3.09 with an occassional drop to $2.99 just to tease us...
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Old 11-05-2010, 07:09 AM
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I hear we have a little oil on the N slope and a little off Nawleans and some dirt oil in the upper mid west. If we ever decide to be oil self sufficient I don't think we should let foreigners in on it. Oh, wait a minute, that north slope Alaska supply will only last 2000 yrs. What will we ever do when it is gone.
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Old 11-05-2010, 07:13 AM
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Originally Posted by baypro21 View Post
Oh, wait a minute, that north slope Alaska supply will only last 2000 yrs. What will we ever do when it is gone.








Yep, we better all go out and buy POS Prius's now, while we still can!!!
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Old 11-05-2010, 07:18 AM
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Huh-Huh. Hold on, I'm looking for some WMDs.

People still buying this crap, eh?[/quote]

Not everyone
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