oil closes at $$$ 100.74

[modsledr]

Snowmanx,

I agree with a lot of what you just said...and you basically make my point.

No, its not your fault you were born into an oil dependent society. But are you saying because its not your fault, the oil companies OWE you cheap gas?? Nobody is forcing you to drive. Nobody is forcing you to choose a sport that is 100% dependant on oil. Gotta pay to play.

In the US we have been spoiled by the lowest oil prices in the world (except for Brazil), yet we're the largest consumers...using 25% of the world supply Now, other huge countries are rapidly developing (Russia and China) and putting a strain on the worldwide supply, and the price rises. The worlds economy does NOT depend on cheap oil...only our little egotistical corner...and the oil companies dont set the price for a barrel of crude. That is the price they pay for it. Prices are determined on international exchanges based on what traders are willing to pay...the traders are made up of hedge funds, investment banks, and others out to make a quick buck speculating on the price of oil. I agree with you that greed and selfishness is at the root...but how is this the fault of the oil companies? In fact, I'd be willing to bet that if you have a retirement fund, you have directly benefitted from the increase in the price in oil...are you willing to give those gains back for the better of the country? Pretty sure I know the answer.

Personally, I think we need higher prices to motivate alternatives (hopefully hydrogen...ethanol is a load of bs). Biodiesel that is refined from recycled oil is another excellent option...as long as the purity is addressed to minimize its corrosive nature.

My 2 c (actually more like 4c)

modsledr

 

[Veedy]

Y'all are just starting to catch up to Canadian pump prices. Not quite there yet, but getting closer. We are at $1.15 per litre and there is 4.54 litres per imperial gallon. That makes it $5.22 a gallon. But a U.S gallon would cost us $4.35 here @3.78 litres per U.S. gallon. So you guys are getting real close. ( i'm calculating on regular fuel )

The prices suck, world economics suck, and since 911 oil companies have taken advantage of us as consumers. Maybe there is a money funnel into the back pocket of the government to fund the troops over seas ? one never knows. In any case the bad guys need to be rid of and we as consumers are investing in peace, so buck up and pay at the pump.

What really sucks is the people who heat their homes with fuels such as stove oil, propane and natural gas. Prices of heating fuels have hit sky high prices. I hear of lots of people who are converting to wood and pellet stoves and even electicity to beat the high prices. I have a F/A propane furnace in my home and it hardly ever comes on, because I keep a wood pellet stove cranked and keeps the house toasty warm. Costs to heat my house are cut in half, and personally I like the wood heat better.

Driving a V10 truck is still my only option. I love the power, but but feeding it is spendy. I looked at the cost of replacing it versus feeding it, and it is still cheaper to feed it. My truck has depreciated almost to its lowest point, replacement could cost $30G'S plus, I could buy a TON of fuel for 30g's.

I guess we should all invest in oil stock, the money you make on it could heat your home and feed your fuel guzzling truck

 

[modsledr]

Y'all are just starting to catch up to Canadian pump prices. Not quite there yet, but getting closer. We are at $1.15 per litre and there is 4.54 litres per imperial gallon. That makes it $5.22 a gallon. But a U.S gallon would cost us $4.35 here @3.78 litres per U.S. gallon. So you guys are getting real close. ( i'm calculating on regular fuel )

The prices suck, world economics suck, and since 911 oil companies have taken advantage of us as consumers. Maybe there is a money funnel into the back pocket of the government to fund the troops over seas ? one never knows. In any case the bad guys need to be rid of and we as consumers are investing in peace, so buck up and pay at the pump.

What really sucks is the people who heat their homes with fuels such as stove oil, propane and natural gas. Prices of heating fuels have hit sky high prices. I hear of lots of people who are converting to wood and pellet stoves and even electicity to beat the high prices. I have a F/A propane furnace in my home and it hardly ever comes on, because I keep a wood pellet stove cranked and keeps the house toasty warm. Costs to heat my house are cut in half, and personally I like the wood heat better.

Driving a V10 truck is still my only option. I love the power, but but feeding it is spendy. I looked at the cost of replacing it versus feeding it, and it is still cheaper to feed it. My truck has depreciated almost to its lowest point, replacement could cost $30G'S plus, I could buy a TON of fuel for 30g's.

I guess we should all invest in oil stock, the money you make on it could heat your home and feed your fuel guzzling truck

Veedy-san....you are wise beyond your years!!

Ditto on the wood instead of LP...costs over $1000 to fill the tank, and i had a 2 month/tank during our cold stretch...OUCH!!!

modsledr

 

[Snow Fox]

Supply and demand my A$$

Greed and sulfishness is at the root of this!!

Okay, there's my rant for the day.

Mark my words.

The prices are as high as they are now because they can, it's just that simple.

I agree that greed does have a part to play in this, though if people would stand up and not pay the rising gas prices then supply & demand will play a part. The majority of American citizens whine, *****, and complain but do nothing about it. When gas prices go up, if drivers would drive less then the oil companies have no choice but to lower the price. Sorry, but Supply and Demand plays a major role in the price of oil.

I would have a hard time believing that most people can't think of ways to drive less, and then maybe walk more, ride a bike, etc. etc. etc. WE ARE A VERY WASTEFUL SOCIETY.

 

[travydog]

driven less is all good and a great way to bring down the prices but what about us farmers or people who live in the country who cant ride a bike to town or do erands. i cant aford to move to town or buy a hybrid vehicle so what do we do? i have to drive to town to get gas and have enuf in my tank to get back to town. We have been trying to cut down on the driven but the wife has to drive to town three times a week for her work and since i have a broken leg i have been going to town three times a week for theropy fifty miles away thats the closest town that offeres it. im not asking for a hand out from the oil companys but come on when there maken billions every few months thats just not right. they were maken recored profits when it was back at two dollars a gallon, and like others have said everything else goes up along with it, its just like our prices of corn and beans they went up so everyone else has to take a slice of the pie it was better when the prices of comodities was down about a buck fifty a bushel. Like i said i dont want a hand out i just want a fighting chance.

 

[snowmanx]

Modsledr,

I hear whaat you are saying, and was trying to say more what Veedy said in his subsequent post.

At this point what it costs for me to sled is irrelevant, it sucks, but I'm still willing to pay to play.

My point was my concern for lower class, and middle class Americans/Canadians and the effect oil prices have on the economy in general, again, couldn't have said it better than Veedy.

I think it is important to explore other sources of energy, but we are at least decades away from making any significant impact on our need for fossel fuels.

I don't thing oil companies "owe" me anything, I just believe that a resource such as gas and oil should be more affordable, especially when it impacts every person in this country as much as it does.

I bought a little commuter car that gets 31 MPG, and I, as well as many people I know, plan shopping trips and I'm lucky we go every 6 weeks, whereas a few years ago we would go every other week. For people that live in rural Montana and other sparcely populated states, long distance travel cannot be eliminated.

There are a lot of guys that have done the same thing I have and bought a car for commuting and parked the trucks...can say I have seen any sort of impact what so ever. Diesel jsut keeps getting more and more expensive.

 

[Beels]

What makes me laugh is the people who claim fuel prices at the pumps aren't totally dependant on world crude prices. Guess what, the nano-second crude jumps up any, the price at the pumps goes up. When crude goes down, better not wait up waiting for the pump to roll back.

As for the people that touched on the ag sector, have you seen the price of fertilizer lately? Tell me that isn't another corporate conglomerate digging out of another pocket... Commodity prices are finally half decent and it's going to take a couple years of this for some guys to get their heads back above water, but when everything else used in production jumps, it's all back to square one.

 

[snowmanx]

What makes me laugh is the people who claim fuel prices at the pumps aren't totally dependant on world crude prices. Guess what, the nano-second crude jumps up any, the price at the pumps goes up. When crude goes down, better not wait up waiting for the pump to roll back.

.

I Don't understand (yes I'm a little slow at times, LOL) Do you mean to say that fuel prices are or are not totally dependent on world crude prices? You're second sentence seems to support the belief that they are not, but your first sentence suggests that the fuel prices ARE totally dependent on world crude price. Clarify please

 

[Beels]

I Don't understand (yes I'm a little slow at times, LOL) Do you mean to say that fuel prices are or are not totally dependent on world crude prices? You're second sentence seems to support the belief that they are not, but your first sentence suggests that the fuel prices ARE totally dependent on world crude price. Clarify please

No you understood it. The pump prices (here anyway) move almost automatically with world crude prices, but they sure didn't fall back when crude was under $100 a barrel. It's one huge scam.

 

[snowmanx]

No you understood it. The pump prices (here anyway) move almost automatically with world crude prices, but they sure didn't fall back when crude was under $100 a barrel. It's one huge scam.

FINALLY, someone elso that can see thruogh all the BS we're being fed, sad thing is they have most of the people believing it.

 

[mcafee]

What does exxon "record profits" (10%) have to do with the global price of oil. They have to pay that $100 a barrel price on imported oil also. Ya want lower oil/gas prices, increase supply. Get the dems (and McCain) to let American oil companies drill new wells (ANWR) and build new refineries. Or we can go along with the (conservation only) crowd and give up our trucks and sleds. I choose A.

Preach on brother, I'm with ya! Start it now before the price of a gallon of freaking gas exceeds the minimum wage, what then???? Talk about recession! I say we start tapping AK, there's 40 years worth of reserves up there. In 2048 we should all be riding hydrogen powered snowmobiles and pickups anyway, let's get it started!!!!


-Macafeller

 

[Beels]

I'm gonna go one step further. Anyone in Western Canada had trouble with Esso's diesel fuel this winter? I've had 2 customers with Bosch fuel pumps on 5.9L Cummins in tractors that wouldn't even run on it. The Esso bulk dealer even came back and flushed the one guy's tank and refilled him. Haven't had any problems with guys running Shell, Petro-Can or Co-op bulk fuel. Talk about a kick in the nuts after you pay through the nose for fuel and the crap won't even run. We were using Esso fuel in our buses and found it real inconsistant. The same hills you know you usually drop one gear while loaded, you'd have to drop 2.

What I'm getting at, is if you're going to charge sky high prices for fuel, you better make damn sure it's good quality.

 

[pura vida]

a couple issues on this point.

1) people can't just stop driving. you have to go to work, school, the store, etc.
i've cut back on my driving, as with many others, yet it continues to rise

2) i am mr. free market, unfortunately the oil market is not a free market. me and joe bob can start a t-shirt company, we cannot start an oil company.

3) in the same breath, i do NOT want government intervention in the oil prices. have you ever seen anything improve once the government gets involved? i haven't. the only two things the feds are good at is producing the military and collecting taxes.

in my not so informed opinion, i believe the issue is wrapped up at least a little bit in all of the issues stated above. how much and where? i do not know. neither has my little brain been able to come up with a reasonable answer, unfortunately. but i do believe prices are rediculous but unfortunately i'm afraid it is only going to get worse. and yes, my guess is we are starting to hit that critical mass were it is going to have a major effect on our economy, and the worlds, really soon, if it hasn't started already. only time will tell.

4) for all the other ak folks. the PFD is NOT!! based one oil prices and high oil prices will NOT lead to higher PFDs. the PFD is based on the performance of the fund (the F stands for fund) averaged over the last five years. (and lots of other stuff i really don't understand) so if the dow tanks so will our PFDs regardless of oil prices.

anyway, didn't mean for the post to go this long. enjoy the snow!

pv

 

[portgrinder]

YOU might not be able to start an oil company...but you can buy as many shares of them as you like. Or if you get your sh*t together you can start a small company and try and get a chunk of land north of McMurray. It is doable.

Econ 101: "inelastic demand" is what we are dealing with here.

A guy can either b*tch and moan or make a fortune off the situation we are in right now. Your choice. You can't buck the trend fellas. Start a business in McMurray and retire in 5 years, nothing is stopping you. How many of you guys have been up there and know what the wages are like? I've been out of school for 3 years and am making way way way too much money. I was at the right place at the right time. Anyone else can do the exact same.

Didn't some smart guy say "ouf of crisis lies opportunity" or something like that?

 

[travydog]

i can understand why the gas stations raise there prices of gas so fast it is because there next load of fuel they get will be higher priced so they need to make a little money to pay for the next load. ya cant blame them espcialy the mom and pop stores that only get one load in a month like our local station they only make a little on the gas the way it is and when someone uses a credit card to pay for there gas there little profit goes down even more. what i am saying is you cant blame the little guy for the prices either. And yes the price of fertalizer and chemical went sky high i bought the chemical roundup for 26 dollars a gallon last year and this year it went up over 35 same stuff no reason what they call it is "tech fees" thats how they get around that. I know that it cost more for everyone to produce there product but its the consumers to who get screewed over in the end it dont matter if your poor or rich it stilll has to cut into the rich peoples profits to. At least the truckers can pass there extra fuel cost on to someone. When i take my grains to market who do i get to pas my extra fuel cost on to? Soon there will be two classes of people really rich and us poor. I cant aford to put money in the stock market to try and make money on that and i cant aford to get a diferent job, and i cant aford to move to town to be closer to a gas station. I am guessin there is alot of people in the same boat i am. theres my 2 cents sorry for going on so long

 

[CHABA]

oil will go down.the USA is in a recession thus lowering chinas demand for oil to make consumerable items.Its already happened for the forestry industry.oil is in a bubble much like housing.I dont buy the peak oil bull.

 

[travydog]

it propbably will but not in time to save alot of people from going in debt because of it and it will never go back to what it was a few years ago it will go down to 2.80 or something like that and then eveyone will think there getting such a great deal it needs to bee down around two bucks and i think most people wouldnt gripe about it and the oil companys will still be maken record profits at that price

 

[jsledder]

How about the price of LP?? Around here we are 2.30 (last I heard). I used to deliver LP about 10 years ago and the price then was around .50 -.60 and .80 was considered high. The wages here haven't gone up more than 1.00/hr (if that) and the price of that same LP now is now nearly quadrupled. So when it used to cost someone $200/mo for LP it's now costing nearly $800. We had people that couldn't afford the $200 and at the end of the winter they had a large bill to wittle away at and by the time they got it paid off the next winter was just beginning. I use pellets to heat my house so I'm not so much affected by the LP price, but I can't imagine spending $800/mo just to heat my house, so add that on to the price of gas, diesel, milk, bread, and everything else we buy and then put that next to the wages and you get alot of people in a bad, bad way. There are people out there that have 3-4 kids and both parents work and they are faced with filling up their tank with gas or buying the kids new shoes or putting good food on their plate, there are the same type of people that are figuring that it pays just as good to not work, collect all the government money and live just as good as the neighbor that is working their *** off barely scraping enough to heat their own house and drive to work.

Wife keeps saying "yeah, it's all Bush's fault and the government needs to step in and do something about the huge profits", well...... if the government jumps in and controls how much money a company can make then where does it stop? Government can do something about the minimum wage and the health care and so many other things though.... Frustrating... Bout ready to move to Canada.

 

[TEC800]

how about this for a scenario? for the guys that say to drill in alaska and whatever reserves we (the u.sand canada) have rights to. bite the bullet and pay the exorbitant prices the middle east OPEC is charging as long as we can, 80, 100 years or whatever they supposedly have oil supply for until their reserves run dry. then they won't have the tiniest bit of leverage over us, we tap our reserves, then the largest left, and shove every one of our oil rigs up there a$$ sideways!!! see how foreign policy to that area of the world changes then.
AHHHHH REVENGE, A DISH BEST SERVED COLD!!! i know, probably wouldn't work, but it puts a smile on my face done venting thank you for your time

 

[Storyboy]

Gas Prices

The gas prices across the nation are all do to the fact that Bush and all his "Henchman" own the refineries. He's lining all their pockets before his term is up. Its been reported on all the news stations that are prices are high do to not enough refineries, and the oil companies don't want to build anymore. It's making the USA go down the drain. All so a bunch of spoiled little rich kids can get richer.