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RE: Petrol heading back to a pound a litre - 4/25/2007 5:38:52 PM

pahunkboy

Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline

i combine my errends when i can.

i can safely make this bold statement-as i worked 7 yrs on i80- gas station. Americans believe it is their god given right to have cheap gasoline. from 1990-1997, our fuel was $1.31. i got bithced at left and right. my favorite was when the customer would tell me it was highway robbery! oddly enuff- it wasnt the poor folks that insulted me- it was the uppity upper middle class that trhought a filll up came with a tire rotation.

during my ruffest days i always had a car. you need one in the US- that or live in a metro area.

if you think things are bad now- 2010 they get worse- most states will be fully dereguated per utilities. then look out. you have no idea how bad it will be. mark my words- we are in for it.

(in reply to popeye1250)

Post #: 21

RE: Gasoline headed to $4.50 - 4/25/2007 5:59:46 PM

Griswold

Posts: 2739
Joined: 2/12/2007
Status: offline

quote:

ORIGINAL: selfbnd411

It's pretty crazy if you've been following the data. Refining margins are incredible--the refiners are making $24 on every barrel of gasoline they sell, versus $10 a year ago--and $10/bbl was seen as unsustainable back then! Refinery utilization is dropping when it should be increasing. The spring is when the refineries build inventories so they have gas on hand for the summer driving season. The fact that gasoline inventories are dropping raises the specter of undersupply.

Sorry to say it, folks, but gas is headed to $4/gal by the summer in California. Probably slightly less in other parts of the country, but it would take just one hurricane or incident in the middle east to drive prices to $4.50 before the summer's out. We're already at $3.50 here in California.

Oil, Gasoline Surge as Motor-Fuel Supply Falls to 18-Month Low

By Mark Shenk April 25 (Bloomberg) -- Crude oil surged more than $1 a barrel and gasoline jumped to the highest since August after a government report showed that U.S. inventories of the motor fuel fell to the lowest in 18 months.
Stockpiles fell 2.79 million barrels to 194.2 million, the lowest since Oct. 7, 2005, when refineries were shut because of hurricanes Katrina and Rita. Refineries operated at 87.8 percent of capacity, down 2.9 percentage points from the prior week, the Energy Department said. A 0.5 percentage point gain was expected, according to the median of responses in a Bloomberg News survey.

http://www.bloomberg.com/apps/news?pid=20601087&sid=asHToZpfONS0&refer=home

And to think only 6 years ago, when George the two'st was just thinking of fucking up our country...it was barely $1.73 a gallon.

I've said it before and I'll say it again...George Bush will be the first President to retire, who within 6 months will be worth 300 million dollars.

(in reply to selfbnd411)

Post #: 22

RE: Petrol heading back to a pound a litre - 4/25/2007 7:06:04 PM

popeye1250

Posts: 18104
Joined: 1/27/2006
From: New Hampshire
Status: offline

quote:

ORIGINAL: pahunkboy

i combine my errends when i can.

i can safely make this bold statement-as i worked 7 yrs on i80- gas station. Americans believe it is their god given right to have cheap gasoline. from 1990-1997, our fuel was $1.31. i got bithced at left and right. my favorite was when the customer would tell me it was highway robbery! oddly enuff- it wasnt the poor folks that insulted me- it was the uppity upper middle class that trhought a filll up came with a tire rotation.

during my ruffest days i always had a car. you need one in the US- that or live in a metro area.

if you think things are bad now- 2010 they get worse- most states will be fully dereguated per utilities. then look out. you have no idea how bad it will be. mark my words- we are in for it.

Our power company is a Co-op so that means we're all owners.
We get a check once a year that goes up every year you live here.
Last May I got a check for $65.

(in reply to pahunkboy)

Post #: 23

RE: Petrol heading back to a pound a litre - 4/25/2007 7:26:31 PM

Casie

Posts: 450
Joined: 1/5/2006
Status: offline

Oh goodness, gas prices go up and the price of everything else goes up since it costs more to ship ext. Will all grow poorer as gas companys grow richer Blah. Maybe everyone in america should take a Saturday and boycot. Turn of their lights pcs, cars , tv's ext only use what they have to ie frigerators ext. perhaps that would show em lol

(in reply to popeye1250)

Post #: 24

RE: Petrol heading back to a pound a litre - 4/25/2007 7:47:34 PM

selfbnd411

Posts: 598
Joined: 7/23/2005
Status: offline

quote:

ORIGINAL: popeye1250

Lady, yes gas is expensive in England but it's mostly *TAX* to pay for those cradle to grave socialist programs that ya'll enjoy.
Same in Ireland.
The world is AWASH in oil, there's no "shortage."

You're right, but the main problem isn't a lack of crude, it's the lack of refinery capacity. And high prices haven't really done anything to curb demand:

http://www.eia.doe.gov/pub/oil_gas/petroleum/data_publications/weekly_petroleum_status_report/current/txt/wpsr.txt

At 334.5 million barrels, U.S. crude oil inventories are in the upper half of
the average range for this time of year. Total motor gasoline inventories fell
by 2.8 million barrels last week, and are well below the lower end of the
average range.

Over the last four weeks, motor gasoline demand has averaged over 9.3 million barrels
per day, or 2.3 percent above the same period last year.

(in reply to popeye1250)

Post #: 25

RE: Petrol heading back to a pound a litre - 4/25/2007 7:59:17 PM

popeye1250

Posts: 18104
Joined: 1/27/2006
From: New Hampshire
Status: offline

quote:

ORIGINAL: selfbnd411

quote:

ORIGINAL: popeye1250

Lady, yes gas is expensive in England but it's mostly *TAX* to pay for those cradle to grave socialist programs that ya'll enjoy.
Same in Ireland.
The world is AWASH in oil, there's no "shortage."

You're right, but the main problem isn't a lack of crude, it's the lack of refinery capacity. And high prices haven't really done anything to curb demand:

http://www.eia.doe.gov/pub/oil_gas/petroleum/data_publications/weekly_petroleum_status_report/current/txt/wpsr.txt

At 334.5 million barrels, U.S. crude oil inventories are in the upper half of
the average range for this time of year. Total motor gasoline inventories fell
by 2.8 million barrels last week, and are well below the lower end of the
average range.

Over the last four weeks, motor gasoline demand has averaged over 9.3 million barrels
per day, or 2.3 percent above the same period last year.

Correct, they need to build about 5 new refineries on each coast.
Many people say "not in my backyard", not me! Build 'em!
They can build a Refinery or Nuclear power plant right across the street from me if they want!

(in reply to selfbnd411)

Post #: 26

RE: Gasoline headed to $4.50 - 4/25/2007 8:11:19 PM

TheHeretic

Posts: 19100
Joined: 3/25/2007
From: California, USA
Status: offline

      Y'know, for all the talk about how the Bush administration refuses to do anything about 'global warming,' I'd say they are on the right track. Drive the price high enough, people will start burning less of it.

    When it comes time to buy my next pick-up, it will almost certainly be a higher mileage diesel powered one. Honda is reportedly bringing out a next-generation diesel engine with lower particulate emissions as well.

     Gotta love the free market.

_____________________________

If you lose one sense, your other senses are enhanced.
That's why people with no sense of humor have such an inflated sense of self-importance.

(in reply to selfbnd411)

Post #: 27

RE: Gasoline headed to $4.50 - 4/25/2007 9:03:06 PM

petdave

Posts: 2479
Status: offline

quote:

ORIGINAL: LadyEllen
Thing is, we've spent the last 40-50 years building the UK into a vast infrastructure for which a car is requisite

Bah. i drove 2100 miles between Wednesday and Sunday and only went through six states (well, seven, but that was a brief detour because we'd never been to Ohio before). As the crow flies, that would have gotten me from London to half-past MOSCOW. What you need is better weather and more grocery stores

quote:

ORIGINAL: Sinergy
I may or may not make back the extra money I spend going hybrid. But I dont see buying a car as an investment,

Good thing... those batteries have a shelf life, and when they go, you're gonna be hurtin'. Cars in general are a bad investment, though. On the other hand, i just picked up a 150cc, 1966 Honda motorcycle for $350... should get about 60 MPG, cost less than $100/year to insure. Not the best highway warrior, but it'll do 60 with a little patience. Just the thing for the lone commuter

(in reply to Sinergy)

Post #: 28

RE: Gasoline headed to $4.50 - 4/25/2007 9:38:49 PM

cloudboy

Posts: 7306
Joined: 12/14/2005
Status: offline

I'm glad my motor scooter gets about 90 mpg.

(in reply to selfbnd411)

Post #: 29

RE: Gasoline headed to $4.50 - 4/25/2007 10:02:00 PM

subfever

Posts: 2895
Joined: 5/22/2004
Status: offline

quote:

Gasoline headed to $4.50

If you're fairly certain about this, you can always go long on gas futures contract... or buy a call option on the underlying futures contract.

Then when gas goes up, you'll be jumping in the air and kicking your heels together.

(in reply to selfbnd411)

Post #: 30

RE: Petrol heading back to a pound a litre - 4/25/2007 10:08:56 PM

subfever

Posts: 2895
Joined: 5/22/2004
Status: offline

[quote]I probably spend $40 - $50 per month on gasoline, and that is about 1/10th of the average consumer. [/quote]

So... the average consumer spends about $4800 to $6000 per year on gasoline?

Sounds like an oil man's wet dream to me...

(in reply to GoddessDustyGold)

Post #: 31

RE: Gasoline headed to $4.50 - 4/25/2007 10:16:37 PM

HutchGarahl

Posts: 562
Joined: 1/10/2007
Status: offline

Gas in my dinky little town is at $2.79 now. It's cheaper in Augusta, but i'd have to pay the price here for gas to get there, so it's not any better. I'm pretty sure it'll be close to $4 around here soon enough.

(in reply to selfbnd411)

Post #: 32

RE: Petrol heading back to a pound a litre - 4/26/2007 4:35:53 AM

LadyEllen

Posts: 10931
Joined: 6/30/2006
From: Stourport-England
Status: offline

quote:

ORIGINAL: popeye1250

Our power company is a Co-op so that means we're all owners.
We get a check once a year that goes up every year you live here.
Last May I got a check for $65.

If the same thing happens there as happened here - for once we were ahead, then PA's advice is sound. Privatisations of everything one could think of occurred in the UK during the 80s and 90s - gas, electric, water, bus services, the railway and most relevantly, co-operative banks formerly owned by their shareholder members. All that was required in this latter case was a majority vote by members - secured by promises of instant profits at sale for the members who sold the shares they received.

E

_____________________________

In a test against the leading brand, 9 out of 10 participants couldnt tell the difference. Dumbasses.

(in reply to popeye1250)

Post #: 33

RE: Petrol heading back to a pound a litre - 4/26/2007 6:08:55 AM

pahunkboy

Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline

privatization is something to beware of. investors arent going to give away service. whn ATT was divested in 1984 we were prmosided low rates for phone. at 1st we did in fact see lower rates...but then the untold aspects surfaced; calling across teh street becomes a local toll call- a term we never heard before. lnadlines proceed to double in cost to the consumer. then in comes the cell phone. many ppl have no landline as a cell phone serves their needs.

many states have passed deregulation of utilies- WRITTEN BY THE UTILITIES themselves. the US power grid infastructure is in horrible shape- it is like running 200 amps on a 45 amp sustem. no funds have been put into this critical item even tho we have major balck outs on both coasts.

solar energy years ago was declared "dead". even as i type this we have the capability to harnest abundant energy that is sustainable. lawmakers are beholdent to campaigne contributers- whom of course are big business.

it boggles my mind that we are privatizing many roads here. roaads built with taxpayer money!!!!

i guess being shocked is-- been there done that- get over it. robber barron days are not over- they have re-invceted themself and slicked up the pr.

as far as the \price of gas- any excuse will do. a widgit shortage in guatamala could explain it.

im not sure we are bettter off then in the days of teh cold war. at least there was balance. now the rampant greed and curruption is so prevalent the stench can be smelled around the world.

ouch.

(in reply to LadyEllen)

Post #: 34

RE: Gasoline headed to $4.50 - 4/26/2007 9:04:16 AM

sambamanslilgirl

Posts: 10926
Joined: 2/5/2007
From: Chicago, IL
Status: offline

as gas prices rise so does the gas tax here in Chicago. there's a % gas tax which continues to balloon each time the stations change the prices every Thursday because it's not a flat tax rate. currently we're above $3.00 (depending on where in the city you live too) and the highest i've seen at one time was $3.50 - that was for Regular Unleaded ...and i suspect by the time Memorial Day arrives it will reach that high or more. hopefully the public trans company here doesn't raise fares because of this.

_____________________________

...2011 - year of the fabulous rock star life ...and i do it so well...

...announcing Mr. & Mrs. British Petrol ...yeah, marrying into oil is slick business...

(in reply to selfbnd411)

Post #: 35

RE: Gasoline headed to $4.50 - 4/26/2007 9:06:06 AM

MellowSir

Posts: 260
Joined: 4/17/2007
Status: offline

I want the 20 cents a gallon that it costs in Iraq

(in reply to sambamanslilgirl)

Post #: 36

RE: Gasoline headed to $4.50 - 4/26/2007 11:24:44 AM

selfbnd411

Posts: 598
Joined: 7/23/2005
Status: offline

quote:

ORIGINAL: subfever

quote:

Gasoline headed to $4.50

If you're fairly certain about this, you can always go long on gas futures contract... or buy a call option on the underlying futures contract.

Then when gas goes up, you'll be jumping in the air and kicking your heels together.

Hehe! Someday I'll have the cash to be able to trade in commodities, but for now I have to stick with common stock. I'm in the oil drillers because the refiners have already moved. The refiners still have upside, but I need big moves for it to be worth the $7 transaction fee on my small orders of 10 or 20 shares.

(in reply to subfever)

Post #: 37

RE: Petrol heading back to a pound a litre - 4/26/2007 11:42:26 AM

LAPhotogDaddy

Posts: 16
Joined: 4/25/2007
Status: offline

We have reached what the experts call "peak oil". Setting aside some kind of massive demand destruction, oil - and by extension, gasoline - is likely to (with considerable volatility) continue to go up until it's gone.

(in reply to popeye1250)

Post #: 38

RE: Petrol heading back to a pound a litre - 4/26/2007 12:34:48 PM

pahunkboy

Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline

quote:

ORIGINAL: popeye1250

quote:

ORIGINAL: pahunkboy

i combine my errends when i can.

i can safely make this bold statement-as i worked 7 yrs on i80- gas station. Americans believe it is their god given right to have cheap gasoline. from 1990-1997, our fuel was $1.31. i got bithced at left and right. my favorite was when the customer would tell me it was highway robbery! oddly enuff- it wasnt the poor folks that insulted me- it was the uppity upper middle class that trhought a filll up came with a tire rotation.

during my ruffest days i always had a car. you need one in the US- that or live in a metro area.

if you think things are bad now- 2010 they get worse- most states will be fully dereguated per utilities. then look out. you have no idea how bad it will be. mark my words- we are in for it.

Our power company is a Co-op so that means we're all owners.
We get a check once a year that goes up every year you live here.
Last May I got a check for $65.

i looked for a co-op to join. no luck. we supposedly have choice here now. but no one services teh area. so much for "choice".

as far as needing refineries- IMO it is jsut another convenient excuse. i recall in the 70s or 80s- that we needed to conserve. ok- next we still had a rate hike- why? cos so many ppl had insulated their house we werent "using enuff" energy.
the was con edison- out of chicago.
a few yrs ago during the big east clost black out- we never lost power. reason being- there is a coal generation plant here. the kicker is- many many ppl have sinuses and an array of health issues. including folks that visit from metro areas.... go figure.

im really starting to dislike the utility companies. the puc gives them anything they want.

(in reply to popeye1250)

Post #: 39

RE: Gasoline headed to $4.50 - 4/26/2007 2:46:06 PM

subfever

Posts: 2895
Joined: 5/22/2004
Status: offline

quote:

ORIGINAL: selfbnd411

quote:

ORIGINAL: subfever

quote:

Gasoline headed to $4.50

If you're fairly certain about this, you can always go long on gas futures contract... or buy a call option on the underlying futures contract.

Then when gas goes up, you'll be jumping in the air and kicking your heels together.

Hehe! Someday I'll have the cash to be able to trade in commodities, but for now I have to stick with common stock. I'm in the oil drillers because the refiners have already moved. The refiners still have upside, but I need big moves for it to be worth the $7 transaction fee on my small orders of 10 or 20 shares.

You can buy option spreads rather cheaply. We're talking hundreds here, not thousands. Just a thought.

(in reply to selfbnd411)

Post #: 40

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