Gasoline Prices

[Maddog78]

Looks like there might be some relief on the way.
NYMEX down nearly 15 cents a gallon today to 2.925/ us gal.

[canadian ss]

MADDOG, i like your new avatar.
They should give you your own forum as the gas/oil expert.
These are just discussions hopefully not meant to bash or disrespect views. Its good to have inside points on the subject as well as points from people just trying to understand.
Everyone just found it fishy when price of fuel would jump just before a long weekend and it has now escalated to the price jumping for "apparently" no reason at any time.
With respect to you maddog, it possibly might be even beyond your explanations?
Just a thought....what would the price of gas be today if it wasn't traded on the floor?

[SQUALO]

Originally Posted by Maddog78

You really don't know how stocks work do you?
I bought XOM in 2006 for $59.
They are now worth $81 ($87 a few days ago)
They have paid off dividends about 20 times since I bought them.
So how did they take my money?


http://www.google.ca/finance?client=ob&q=NYSE:XOM


Even better I bought Royal Bank way back in 1986. $8000 worth.
I still hold them. They are now worth $74000 and have paid off hundreds of dividends over the years.

My response was not for you.

[Maddog78]

Originally Posted by canadian ss

MADDOG, i like your new avatar. Thanks.
They should give you your own forum as the gas/oil expert. No, thanks.
These are just discussions hopefully not meant to bash or disrespect views. Its good to have inside points on the subject as well as points from people just trying to understand.
Everyone just found it fishy when price of fuel would jump just before a long weekend and it has now escalated to the price jumping for "apparently" no reason at any time. I'm glad you put apparently in italics. I think you have gained some knowledge from these threads. There are valid reasons. Just like there are valid reasons for the price to start dropping a bit now, at least in the short term.With respect to you maddog, it possibly might be even beyond your explanations? Of course. I'm not 100% always correct but I'm very confident that my long term views on energy supply over the next ten years or more are going to be correct. It's going to be expensive. There are no good large scale alternatives to fossil fuel in the near term future. People, especially in Canada and the US, will be severely impacted. Gov'ts won't be able to do much if anything about it and to relate it to this forum, only the wealthy will be able to afford to put fuel in and continue to operate muscle cars. We'll see.
Just a thought....what would the price of gas be today if it wasn't traded on the floor? Very hard to say. You would then have a system of each individual producer, distributor and retailer adding their cut and making their own deal or a communist type system of the price being dictated by a governing body of some sort. Both have huge drawbacks of course.
One possibility is slightly cheaper for larger markets and much more expensive for smaller markets. Also a much, much higher probability of unreliable deliveries and shortages in some areas.
I don't know how else you would manage an energy supply system efficiently without an open trading floor. Any alternative would be pretty ugly.
Would you prefer $1.30/litre and your local station always having gas available 24/7 or a price of $0.80/litre and the station only having fuel available on Tuesdays and Thursdays from 3 to 5 o' clock and sometimes on Saturdays at 9 in the a.m. till they run out again?

...

[canadian ss]

I think the gov't needs to remove at least half the tax on the price of a litre. And I agree they probably won't do that. Almost as if they want us to take our eyes off of them and focus our anger else where.
Either way, for the common motorist, it sucks to have to manage your pay check around the price of gas while trying to pay the bills and have something left over for yourself at the end of it. Overall, people just want a break and because gas prices seem to change frequently, it's pointed out easier. We are taxed to death and the price of fuel isn't helping.
IMO, if fuel prices dropped, people would have more to spend and have more places to go making for more fill ups and everyone is happy......

[Maddog78]

Yup, cheap energy has made everyone happy for the past 100 years, most of them just didn't realise it.
The times they are a changin'

[canadian ss]

:upset: Just hope not for awhile!!!!!!!

[RickRay]

Just gased up in the states at 4.25 gal US - super 93 octane....

[69 Rebel]

We as a population consume 86 million barrels of oil a day. Only 87 million barrels are being pumped out of the ground per day. Think about that guys, supply and demand there is only one way for oil prices to go, UP

[canadian ss]

Everyone forgets that oil can be ramped up or scaled back like about a year ago when no one could afford it and gas and dashes were becoming popular. Its on the news people. Pay attention to politics and their hidden truths.
Remember, we know half of 1% of what the gov't wants us to know.