GoChiefs
Posts: 16,754
Nov 30, 2009 10:50am
Seems like they use any excuse they can to raise prices..so I'm calling it now. 
http://news.yahoo.com/s/ap/piracy
http://news.yahoo.com/s/ap/piracy
OneBuckeye
Posts: 5,888
Nov 30, 2009 10:54am
http://online.wsj.com/article/BT-CO-20091130-707850.html
OIL FUTURES: Crude Up On Weaker Dollar, Higher Stock Markets
OIL FUTURES: Crude Up On Weaker Dollar, Higher Stock Markets
NEW YORK (Dow Jones)--Crude futures are higher Monday on a weaker dollar and rising equities, overturning earlier losses as concerns ease over the Dubai World debt crisis.
Light, sweet crude for January delivery recently traded 32 cents, or 0.4%, higher at $76.37 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange traded 36 cents, or 0.5%, higher at $77.54 a barrel.
The dollar weakened against the euro, most recently trading above the pivotal $1.50 a barrel level at $1.5028. Oil tends to rise on a weaker dollar as this makes the price of the dollar-denominated commodity cheaper to other currency holders.
"We seem to be focusing on the dollar again," said Phill Flynn, analyst with PFG Best in Chicago, noting the oil market's tendency to react to dollar movements in the absence of any fundamental news.
Equity markets in the U.S. were also marginally higher on their open, offering some support to oil prices, with the Dow Jones Industrial Average recently trading up 32 points at 10342.
Oil market participants have been using positive economic data and rising stock markets as a representative for oil demand growth, anticipating that a global economic upturn will bolster oil consumption.
Lingering concerns about the effect the Dubai debt crisis had led oil prices to fall earlier in the session.
LJ
Posts: 16,351
Nov 30, 2009 10:55am
Nah. Nothing is going to push Oil above 80 until jobs improve or the dollar completely collapses.
RedRider1
Posts: 3,850
Nov 30, 2009 11:00am
Where did I read something that says the price of oil is very high compared to the overall state of the economy? Wasn't it down in the $40-$50/bbl range last winter?
GoChiefs
Posts: 16,754
Nov 30, 2009 11:05am
I'm not gonna take your word for it just b/c you work at a gas station!!!LJ wrote: Nah. Nothing is going to push Oil above 80 until jobs improve or the dollar completely collapses.
V
visionquest
Posts: 206
Nov 30, 2009 11:26am
This isn't as bad as the report I read about 5 days ago about 40 oil tankers docked off the coast around the UK waiting so that they do not unload until oil prices go up. Talk about piracy. The report said that some of those tankers had been waiting at sea for over a month waiting for oil prices to go up to maximize profits.
LJ
Posts: 16,351
Nov 30, 2009 11:33am
That's no different than usual. Normal waits are around 56 days.visionquest wrote: This isn't as bad as the report I read about 5 days ago about 40 oil tankers docked off the coast around the UK waiting so that they do not unload until oil prices go up. Talk about piracy. The report said that some of those tankers had been waiting at sea for over a month waiting for oil prices to go up to maximize profits.
It's all sensationalism by the media. Honestly.
GoChiefs
Posts: 16,754
Nov 30, 2009 11:35am
Can't argue with that!LJ wrote: It's all sensationalism by the media. Honestly.
J
Jawbreaker
Posts: 520
Nov 30, 2009 11:35am
I'm glad to see the FreeHuddle has a gas thread just like the old huddle.
Mr. 300
Posts: 3,090
Nov 30, 2009 11:37am
Damn that Obama and his big oil cronies!!!!
Fab1b
Posts: 12,949
Nov 30, 2009 11:40am
Oil is a straight damn scam!!
LJ
Posts: 16,351
Nov 30, 2009 11:43am
I don't appreciate you calling my business a scam. It's very hard being the assistant to the assistant manager at the Citgo.Fab1b wrote: Oil is a straight damn scam!!
Little Danny
Posts: 4,288
Nov 30, 2009 11:46am
Not to provide fodder to move this to the political thread, but everytime the gas prices went up .1 last year everyone was blaming Bush and his ties to the oil industry. What is the excuse now and why aren't dems calling for Barry's head?Mr. 300 wrote: Damn that Obama and his big oil cronies!!!!
Fab1b
Posts: 12,949
Nov 30, 2009 11:50am
Didn't mean to offendLJ wrote:I don't appreciate you calling my business a scam. It's very hard being the assistant to the assistant manager at the Citgo.Fab1b wrote: Oil is a straight damn scam!!
Fab1b
Posts: 12,949
Nov 30, 2009 11:52am
The same reason they blamed Bush for the mess Clinton got us into!Little Danny wrote:Not to provide fodder to move this to the political thread, but everytime the gas prices went up .1 last year everyone was blaming Bush and his ties to the oil industry. What is the excuse now and why aren't dems calling for Barry's head?Mr. 300 wrote: Damn that Obama and his big oil cronies!!!!
darbypitcher22
Posts: 8,000
Nov 30, 2009 11:55am
Well might as well just wait for the dollar to collapse then.
LJ
Posts: 16,351
Nov 30, 2009 11:58am
It's ridiculous to blame any of the pricing on the gov't.
newarkcatholicfan
Posts: 3,199
Nov 30, 2009 12:03pm
Oil near $76 as demand fears trump weaker dollar
Oil prices fell a penny to $76.04 a barrel after falling earlier Monday on the New York Mercantile Exchange.
Prices at the pump were $2.629 a gallon on Monday, 80.4 cents more a gallon than a year ago, according to auto club AAA, Wright Express and Oil Price Information Services. That is about $40 more a month for a typical motorist.
http://finance.yahoo.com/news/Gas-prices-80-cents-above-apf-3418004076.html?x=0
Oil prices fell a penny to $76.04 a barrel after falling earlier Monday on the New York Mercantile Exchange.
Prices at the pump were $2.629 a gallon on Monday, 80.4 cents more a gallon than a year ago, according to auto club AAA, Wright Express and Oil Price Information Services. That is about $40 more a month for a typical motorist.
http://finance.yahoo.com/news/Gas-prices-80-cents-above-apf-3418004076.html?x=0
Fab1b
Posts: 12,949
Nov 30, 2009 12:07pm
Look I totally agree with that 100% when it comes to gas/oil. However the Dems and Liberals surely place the blame right on the shoulders of the Bush admin. whenever the opportunity arrises!LJ wrote: It's ridiculous to blame any of the pricing on the gov't.
S
Sonofanump
Nov 30, 2009 12:10pm
You mean except for the $.46.4 tax on every gallon.LJ wrote: It's ridiculous to blame any of the pricing on the gov't.
LJ
Posts: 16,351
Nov 30, 2009 12:11pm
It goes along with the sensationalism of the media claiming that oil is too high etc. They are always going to blame somebody because the masses don't understand how things work. They think that politicians own massive amounts of interests in oil companies, then tell the oil companies to raise their prices whenever they want to make a profit.Fab1b wrote:Look I totally agree with that 100% when it comes to gas/oil. However the Dems ame Liberals surely place the blame right on the shoulders of the Bush admin. whenever the opportunity arrises!LJ wrote: It's ridiculous to blame any of the pricing on the gov't.
The only control the oil companies have over the price is when it is being pumped into your car, and even then the oil company is only getting that money when they own the station.
LJ
Posts: 16,351
Nov 30, 2009 12:11pm
Then you could blame the gov't for the price of your tv, or the price of your car. In Ohio, everything except food has a consumption tax. Point is moot.Sonofanump wrote:You mean except for the $.46.4 tax on every gallon.LJ wrote: It's ridiculous to blame any of the pricing on the gov't.
C
cbus4life
Posts: 2,849
Nov 30, 2009 12:19pm
Screw taxes. Roads are overrated, anyways.
OneBuckeye
Posts: 5,888
Nov 30, 2009 12:56pm
They don't want the pirates to fire a RPG at an oil tanker I would think.ccrunner609 wrote: Why dont they just arm the oil tankers and shoot the pirates before they ever get on board?
M
MrMcCluskie
Posts: 624
Nov 30, 2009 12:56pm
I doubt that gas gets over 3 bucks. The Arabs know that they will be doomed if that happens. The push for alternatives will pick up even more speed.