Is everything a farce?

BillPutney · #1 02-15-2009, 05:40 PM

http://www.wral.com/business/story/4542447/ I have been watching the price of crude drop to all time lows for the recent times, yet the price of gas is rising.I'm not one to jump on the obscene profits bandwagon , but what the Hell is going on? I've heard traditionally that companies have to switch over to more heating fuel this time of the year.That makes good sense. I've heard that we have oil sitting offshore in tankers that don't want to offload due to the low prices in the market.It just seems that we are getting screwed on all fronts right now .There are some very knowledgeable members on this site that seem to understand or are involved in these commodity transactions that can help weed out the real truth.

SteveH · #2 02-16-2009, 01:14 AM

WWP2, I don't know if it is a farce, but it is extremely frustrating. It is my understanding that the reason has to do with the cut in refining. As you know, crude prices are still very low, compared to what they have been in the last two years or so, but the oil companies have tinkered with the supply and demand by cutting down the amount of fuel refined (or atleast that is what I have read and heard). I live in Florida and am itching to go offshore for grouper. I have been doing it for approx thirty years and they just hit us with a closed season until April 1st. I am thinking that by the time the season opens the prices will have increased some more. It seems like they are inching up every week... OPEC is bound to come up with something to drive the prices back up too!

hermco · #3 02-16-2009, 04:57 PM

Quote:

OPEC is bound to come up with something to drive the prices back up too!

Opec has been reducing output for a while now ...they want the price to be around $75 per B. Is now around $40.

web page

Finster · #4 02-16-2009, 06:49 PM

As of today oils trading at $34 a barrel. What they're say is, they're cutting refining due to the poor economy. The old supply and demand speech, BS more than likely.
I don't think OPEC can do too much, if they could they would, and they've tried. The bright side of this is, a-hole nations like Iran and Venezuela economies need oil to be at least $60 a barrel to survive. And as of now neither has enough surplus to make it threw 2010.

But more than likely we'll all be paying $4 a gal at the dock come this summer.

hermco · #5 02-16-2009, 07:14 PM

Quote:

But more than likely we'll all be paying $4 a gal at the dock come this summer

Won't happen.

bbh57 · #6 02-16-2009, 07:41 PM

http://www.consumerenergyreport.com/...record-levels/ Also, speculators are paying as much as $70.000 a day to store oil on tankers.

BigLew · #7 02-16-2009, 08:47 PM

[QUOTE]

Quote:

But more than likely we'll all be paying $4 a gal at the dock come this summer

Check this out. Are you buying this? There's an answer for eveything!

bigeasy1 · #8 02-16-2009, 10:23 PM

Here's an article,in USA Today regarding this subject.True or not,who the heck knows.
I have a feeling that somehow,we're still getting screwed.

http://www.usatoday.com/money/indust...s-prices_N.htm

eggsuckindog · #9 02-18-2009, 10:45 PM

wholesale gas has dropped .15 in the last couple days, .11 in one day I watched so its coming back down

Tiny · #10 02-21-2009, 12:22 AM

Yes it's all a farce...give a government unlimited power and limited accountability...and this is what you get.

If WE (each one of us) do not decide to do something about this we'll be complicit.