Gasoline Prices

[Maddog78]

Originally Posted by canadian ss

NWO? Bindenberg perhaps?

If you are going to promote conspiracy theories, at least get the name right.


http://en.wikipedia.org/wiki/Bilderberg_Group

[Mike Jung]

Originally Posted by SQUALO

Found a helpful and easy to follow website for anyone who wants to track "current crude oil prices".
When you hit your refresh button, the price will update, also showing the time.

Price down .70 at time of this post.

http://www.oil-price.net/

You are better to use wholesale trading of gasoline future contracts; as what happens to gasoline market can be different than crude oil market.

The daytime trading hours are: 09:00-14:30 ET

http://www.cmegroup.com/trading/ener...-gasoline.html

[Mike Jung]

On the bright side...

NYMEX wholesale trading of gasoline is currently DOWN $0.2376 US per US Gallon.

If this closes like that at 2:30pm EDT...watch for falling prices tomorrow

[SQUALO]

Originally Posted by Maddog78

You are a very good reminder to me about how most people react now and will react in the future to high energy costs.
They will lash out in anger at gov'ts and oil companies.
Do something!, they will demand.



Nothing meaningful can be done. You can't fight geology.
We have had 100 years of cheap and easy crude.
Those days are over. The Chinese and Indians want it as badly as we do now. Maybe more.
It takes billions of dollars and exploration in deep water far offshore and scraping up tar sands in further asunder hinterlands to keep the pump going.
These efforts are slowly falling behind the depletion rates as the old elephant fields of the 50's, 60's and 70's like Cantarell, Forties, Ekofisk etc. start drying up.
Adjust your lifestyle or suffer the consequences.

That may be, and I understand that, but the added taxes, on top of taxes, doesn't help the cause.

p.s.
I can afford the lifestyle, but what's going on by gov't. officials, doesn't make it right.

[TJ91]

he must have a very secure job. Hope a future recession doesnt make him adjust his lifestyle like it has for ALOT of people.
Anyone remember what happened the last time fuel prices went up drastically?

[Maddog78]

If you are referring to me, yes my job is very secure.
I work in the upstream sector (exploration) of the oil & n. gas industry.
The last time my job was in jeopardy was in the oil price crash of 98/99 when many oil people were laid off. People not involved didn't care. They were just happy with the low pump price. That worm has turned now.

I am an older guy. Been in the business for 30 years. Worked all over the world.
I see first hand how much harder it is to find productive fields now and what the costs are to bring them on stream. That is why I say the cheap and easy oil is gone.
We will not run out for quite a few years yet but the pricing will run higher and higher.

It doesn't matter much to me. I've made my money. I could retire tomorrow.
Net worth over 2 million. Not bragging, just stating a fact.

Nevertheless I'm making adjustments. See that Avalanche? It will be sold shortly and be replaced with a compact 4 cyl. pickup. The car my wife and I drive mostly is a 4 cyl. Corolla. I try to take my bike whenever possible.

The real impact will be on our kids 4 to 8 years in the future.

[Maddog78]

Looks like you might get some short term relief after all.

Gasoline down 28.67 cents

[Corrado]

Originally Posted by Maddog78

If you are referring to me, yes my job is very secure.
I work in the upstream sector (exploration) of the oil & n. gas industry.
The last time my job was in jeopardy was in the oil price crash of 98/99 when many oil people were laid off. People not involved didn't care. They were just happy with the low pump price. That worm has turned now.

I am an older guy. Been in the business for 30 years. Worked all over the world.
I see first hand how much harder it is to find productive fields now and what the costs are to bring them on stream. That is why I say the cheap and easy oil is gone.
We will not run out for quite a few years yet but the pricing will run higher and higher.

It doesn't matter much to me. I've made my money. I could retire tomorrow.
Net worth over 2 million. Not bragging, just stating a fact.

Nevertheless I'm making adjustments. See that Avalanche? It will be sold shortly and be replaced with a compact 4 cyl. pickup. The car my wife and I drive mostly is a 4 cyl. Corolla. I try to take my bike whenever possible.

The real impact will be on our kids 4 to 8 years in the future.

Easy to say when your net worth is over 2 Million. Good on you, I don't begrudge hard working rich people, but to the rest of us, this is killing us. The economy is based on transportation and no matter what vehicle you drive, it is damn expensive to put gas in. It will effect the whole economy, people will have to stop spending in other areas and this is not good for the economic recovery. The government can lessen some of the ridiculous taxes on the gas to ease the pain, but of course, they do not care.

[canadian ss]

If India and China want oil so bad, raise the price on them.
Secondly, if there was a crisis over oil beds, why aren't we all globally paying the same for fuel?
Third, North America seems to be hit more with fluctuating prices than most other countries? And why is Europe paying alot more for fuel?

We pay more because we are not third world. We probably won't revolt.
Europe pays more because of 4cyl. cars and the closest corner store is miles away.
Who is in charge of the oil? The middle east or North America? Doesn't make sense?
Why don't we have 1 grade of fuel like diesel? Now thats a money grab if I saw one.
Plus, Diesel is less refined than gas. Why does it cost more? Because of increase of trucks and flight?
This will certainly bring on yet another recession!!!!

We use to hear excuses from bad weather, pirates, middle east tension, Bin Laden, oil spills and so forth for oil price surges, nevermind the old winter gas/summer gas crap that oil companies are running out of bull!!!
We need stabilization and good bye to OPEC!!!!!!! (and the NWO- BINDERBERG'S)

[Maddog78]

Wow!

LOL.
You must be very young.

There is so much confusion and delusion in that post I don't even know where to start so I won't.

[canadian ss]

I think thats how we feel when the price of gas goes up for no reason. Especially when the price of crude drops.
Maybe i'm looking for another oil price excuse?
I'm just saying that if we go electric car, the price of electricity goes up. We see that know because we are conserving and Ontario PAYS Quebec and Manitoba to take our excess?
If we filled our cars with water, we wouldn't have access to free water. ie. lakes.
Bio diesel, price of cooking oil goes up.
I understand its a business but this is gouging IMO.
Also, a friend of mine works offshore and he kinda mentioned we have enough to go around for dacades still. You know what, he makes a killing too. Wierd....or what?

[Maddog78]

Originally Posted by Corrado

Easy to say when your net worth is over 2 Million. Good on you, I don't begrudge hard working rich people, but to the rest of us, this is killing us. The economy is based on transportation and no matter what vehicle you drive, it is damn expensive to put gas in. It will effect the whole economy, people will have to stop spending in other areas and this is not good for the economic recovery. The government can lessen some of the ridiculous taxes on the gas to ease the pain, but of course, they do not care.

...and you shouldn't begrudge me.
I busted my ass to get where I'm at now.
Started roughnecking in Northern Alberta when I was 17.
Continued in the summer months to pay for my university.
When friends were laying on the beach, I was working 12 hr. shifts 15 days on 5 days off.
Worked 13 years in the North Sea, 3 weeks on, 3 weeks off. I lost track of the number of Canadians and Americans who worked one or two trips and then quit cause they couldn't hack it.
Worked 3 1/2 years in Yemen and 1 1/2 years in Nigeria. No picnic there either.

I hear what you're saying though. It's quite a conundrum.
Should we be asking for short term tax relief which would make the deficit worse, allow people to burn cheap fuel at a high rate which would not encourage people to adjust their lifestyle and which would only succeed in pushing the inevitable a few years down the road, effectively putting the burden on our children?
There are no easy answers and only difficult choices ahead.

[UT-Engineer]

lets just all ride bicycles.... problem solved.

[Maddog78]

Originally Posted by canadian ss

Also, a friend of mine works offshore and he kinda mentioned we have enough to go around for dacades still.

Maybe, but the price will be high. That's my point. The days of hiring a cheap land rig to punch a well in East Texas and finding a gusher are over.
Offshore rigs are expensive. Developing and producing offshore fields is very expensive.
No offense to your friend but if he is just a roughneck on an offshore rig he really has no more insight into the big picture than you do.
If he was a Reservoir Engineer high up in a major oil company he might and his opinion would likely be different.