Author Topic: Crude Oil Prices  (Read 51807 times)

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Richard Myers

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Re: Crude Oil Prices
« Reply #40 on: September 23, 2008, 08:39:24 AM »
Pressures are from excess supply and lower demand versus a dollar that continues to dive.  Supply will be choked off, so it seems we are going to see upward pressures. Also, Brother Cop said that the oil platforms were hurt by Hurricane Ike.
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Richard Myers

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Re: Crude Oil Prices
« Reply #41 on: October 08, 2008, 06:06:09 AM »
Just in the news - not yet on the web - crude oil prices jumped over $2 today. This places a barrel of oil at $86.13. Forecasters expect it to go to $100/barrel before the end of the year and over $112 by this time next year.<P>Just found this:  <A HREF="http://www.oil-price.net/" TARGET=_blank>http://www.oil-price.net/</A>

It would be nice to have a barrel of oil at $86.13 again. Today = $116.69

We saw it go up to over $140. It took awhile, but we are back in the $80s!  A silver lining in the dark ominous clouds that are rolling overhead!

Many people are being hurt by the high cost of oil.  Investors have made fortunes in the last few years at the expense of others. I am waiting for the oil speculators to lose.  Don't know when it will happen, but it will.

Greedy selfish speculators helped the price of oil to skyrocket, now these investors are losing their shirts. A lesson to all who wish to speculate as to how they can get something for nothing.
Jesus receives His reward when we reflect His character, the fruits of the Spirit......We deny Jesus His reward when we do not.

Lewis

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Re: Crude Oil Prices
« Reply #42 on: October 08, 2008, 08:23:25 AM »
I just wish I gas prices up here would go down. We are still at about $3.69/gallon. Where we go to church north of here over the pass, gas was $4.09/gallon.

Mimi

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Re: Crude Oil Prices
« Reply #43 on: October 13, 2008, 06:06:15 PM »
The meltdown's silver lining - cheap oil
With experts predicting a global economic slowdown, oil prices could fall to $60 a barrel, or lower - with gas prices soon to follow.

By Steve Hargreaves, CNNMoney.com staff writer
October 10, 2008: 1:46 PM ET


NEW YORK (CNNMoney.com) -- As the world loses confidence in the foundations of its economic system, the silver lining may be that oil prices are about to get a whole lot cheaper.

In a new report Friday, Deutsche Bank uses a number of interesting yard sticks to suggest crude is currently way too expensive and may fall to the $60 a barrel range as the economy worsens. Source
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Richard Myers

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Re: Crude Oil Prices
« Reply #44 on: October 15, 2008, 08:26:56 AM »
Exxon stock is down 30% over the last year.  :)   Record profits have not stopped their losses.  They will reap what they have sown.
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Wally

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Re: Crude Oil Prices
« Reply #45 on: October 16, 2008, 04:05:52 AM »
Exxon stock is down 30% over the last year.  :)   Record profits have not stopped their losses.  They will reap what they have sown.

It's hard to work up much sympathy for these oil companies.  It would seem that the condemnation in James 5:1-6, would apply in some degree to some of these companies which have made these exhorbitant profits.

I saw gas down to $2.78/gallon yesterday, as I made my rounds.
So likewise ye, when ye shall have done all those things which are commanded you, say, We are unprofitable servants:  we have done that which was our duty to do.  Luke 17:10

Richard Myers

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Re: Crude Oil Prices
« Reply #46 on: October 16, 2008, 06:16:05 AM »
If their stock dropped by 500% there would be few tears shed.  Maybe then the millions in compensation for the CEO would fall.

Chevron is charging 3.88 for diesel in Calif.  Not long ago it was 4.99. That is $200 to fill up the work truck. Sadly the politicians reflect the voters. So, it looks like the end is near.  :)
Jesus receives His reward when we reflect His character, the fruits of the Spirit......We deny Jesus His reward when we do not.

Richard Myers

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Re: Crude Oil Prices
« Reply #47 on: October 16, 2008, 06:22:53 AM »
Commodity prices fell Wednesday. Oil declined after OPEC cut its forecast for 2009 demand, sending crude oil futures in New York down more than $4 per barrel to around $74, the lowest since September 2007.

Tears for OPEC?    Monopolistic practices are not fair.
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Richard Sherwin

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Re: Crude Oil Prices
« Reply #48 on: October 16, 2008, 07:20:43 PM »
Richard you are crude you know.  ;D

Gas here in the middle of the mitten is down to $2.79. Even diesel is dropping down to near $4.
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Lewis

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Re: Crude Oil Prices
« Reply #49 on: October 16, 2008, 07:31:05 PM »
We have finally dropped in price for the cheaper grade of gas. It is now $3.24/gallon. Diesel usually sells here for a dollar more per gallon. My thinking as to why we are higher is because of the ski resorts, and living way out of the way.

Richard Myers

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Re: Crude Oil Prices
« Reply #50 on: October 20, 2008, 10:47:22 PM »
Gas here is 3.25 also. But, while Chevron is higher and sells diesel at outrageous prices, other brands are now running about 20 cents a gallon higher than gas. Amazing, the thieves have come down off their 50 cents a gallon surcharge.  I heard an oil trader whining about the fact that oil is trading at last year's price. He was crying that the Arab nations can't afford this "low" price. They have major projects going that need the high prices. :(  Made me want to park my car for a week or so. I want the price of gas back where it was two years ago! :)
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Wally

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Re: Crude Oil Prices
« Reply #51 on: October 21, 2008, 03:55:49 AM »
I saw $2.73/gallon on my way to work yesterday, and diesel at $3.69.  Heating oil is what is going to hurt people in this part of the country.  It's around $3.00/gallon right now, which is still higher than last winter, and last winter was higher than the previous winter.
So likewise ye, when ye shall have done all those things which are commanded you, say, We are unprofitable servants:  we have done that which was our duty to do.  Luke 17:10

Sister Dee

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Re: Crude Oil Prices
« Reply #52 on: October 23, 2008, 09:21:59 AM »
$2.59 here!   

I have no idea why, but the prices started coming down here when they were having shortages in the southeast.  Strange! 

Wally

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Re: Crude Oil Prices
« Reply #53 on: October 23, 2008, 09:51:40 AM »
$2.62 hear in Maine.  It' now near pre-Katrina prices.  OPEC meets tomorrow, I believe.  It is almost guaranteed that they will cut production.
So likewise ye, when ye shall have done all those things which are commanded you, say, We are unprofitable servants:  we have done that which was our duty to do.  Luke 17:10

Richard Myers

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Re: Crude Oil Prices
« Reply #54 on: October 28, 2008, 10:41:04 AM »
Ever pray for someone to lose money in their investments?  I have thought about it!  Many people are being hurt by the high cost of oil.  Investors have made fortunes in the last few years at the expense of others. I am waiting for the oil speculators to lose.  Don't know when it will happen, but it will.

Oil which was over $145 is now trading at $64 a barrel. Gas which was close to $5 a gallon is now selling around $2.50, but in some places it is being reported to be under $2.00.

We are only where we were before the last great rip off that began when Katrina hit.  Prices below $2.00 for gas and below $60 for oil will certainly indicate serious difficulties in the economy. Happy with $2 gas, but under that will cause us to realize what is in store for the world. We who believe in God and His Word can look up, realizing that our redemption draweth nigh.
Jesus receives His reward when we reflect His character, the fruits of the Spirit......We deny Jesus His reward when we do not.

Richard Myers

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Re: Crude Oil Prices
« Reply #55 on: October 31, 2008, 09:23:20 AM »
In 2005 crude was selling at under $40 a barrel. Today, we hear that the world will fall apart since oil is at $64.

Exxon Mobil smashed its own U.S. record for quarterly profits yesterday, ringing up $14.83 billion in net income.....But with crude oil prices now less than half their July peak and the economic outlook bleak.

Exxon's third-quarter earnings rose 58 percent compared to the corresponding period in 2007, and its per-share earnings of $2.86 were higher than what analysts expected, capping a week of strong profit numbers from the world's premier oil companies, all of which benefited from the spike in oil prices in July.

Royal Dutch Shell also posted higher earnings yesterday, beating analysts' estimates with a profit of $8.45 billion for the third quarter.

Conoco Phillips, the third-largest U.S. oil company, said last week that its third-quarter profit jumped 41 percent, to $5.19 billion.

I saw diesel below $3 yesterday. Last year I cried when I had to pay $3 a gallon. It cost me $170 to fill my truck. Then it went to $5.  I have never filled the truck at these high prices. I will begin buying diesel when it gets to 2.50. Until then I park the truck and only use it to move the harp. :) 

In San Francisco, I saw diesel selling at a price less than gas.  :)  The drop in the price of fuel will help many as we use our cars for work, heating our homes, and powering our refrigerators, computers, and lights with electricity that is tied to energy costs.  Jesus has given us a break from the corruption in the world. It will not last. Let us prepare for the days that are ahead.
Jesus receives His reward when we reflect His character, the fruits of the Spirit......We deny Jesus His reward when we do not.

Mimi

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Re: Crude Oil Prices
« Reply #56 on: October 31, 2008, 12:46:11 PM »
Amen! My lifestyle calls for one tank of gas per month no matter what it cost. (Well, anything under $5) I can get back and forth to church 4 times a month and to the grocery twice. Other than those scheduled trips, I don't go. When it was almost $5 per gallon the pumps stopped at $75. I could get no more and the tank was only 3/4 full. It was a burden. With my daughter and grandson so sick this past month I had to make a choice to either go to church or to take care of them at their home, still allotting the trips.

Today I filled up ($30) and was exceedingly glad.
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Wally

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Re: Crude Oil Prices
« Reply #57 on: October 31, 2008, 02:54:26 PM »
Amen! My lifestyle calls for one tank of gas per month no matter what it cost. (Well, anything under $5) I can get back and forth to church 4 times a month and to the grocery twice. Other than those scheduled trips, I don't go. When it was almost $5 per gallon the pumps stopped at $75. I could get no more and the tank was only 3/4 full. It was a burden. With my daughter and grandson so sick this past month I had to make a choice to either go to church or to take care of them at their home, still allotting the trips.

Today I filled up ($30) and was exceedingly glad.

1 tank a week.  Must be nice.  I fill the tank once a week just going back and forth to work and church.  Fortunately, I only fill the truck about every 4-6 weeks, more often when it snows and I take it to work.
So likewise ye, when ye shall have done all those things which are commanded you, say, We are unprofitable servants:  we have done that which was our duty to do.  Luke 17:10

Mimi

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Re: Crude Oil Prices
« Reply #58 on: October 31, 2008, 04:03:51 PM »
A tank a month is not so nice. It is very restrictive, yet it is the way I choose to live. I retired early due to the inconvenience of my husband's untimely death and was left with a home in a wilderness valley far from civilization. It is too expensive still to drive back and forth to town to a job of some kind, and throw on top of that the expense of vehicle maintenance, of impossible winters, of clothing for work, lunches, etc., so it is cheaper for me to stay put! Quite frankly, it appears to be providential, don't you think? In times like these? When the time comes for multiple families to live together, which will be sooner rather than later, I am ready and can accommodate.  ;)

 
  For ever, O LORD, thy word is settled in heaven. Psalm 119:89 

Wally

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Re: Crude Oil Prices
« Reply #59 on: October 31, 2008, 04:23:33 PM »
A tank a month is not so nice. It is very restrictive, yet it is the way I choose to live. I retired early due to the inconvenience of my husband's untimely death and was left with a home in a wilderness valley far from civilization. It is too expensive still to drive back and forth to town to a job of some kind, and throw on top of that the expense of vehicle maintenance, of impossible winters, of clothing for work, lunches, etc., so it is cheaper for me to stay put! Quite frankly, it appears to be providential, don't you think? In times like these? When the time comes for multiple families to live together, which will be sooner rather than later, I am ready and can accommodate.  ;)

 

I see your point.  I see that I misprinted my post, too.  It should have started, "a tank a month."   Senior moment.  ::)
So likewise ye, when ye shall have done all those things which are commanded you, say, We are unprofitable servants:  we have done that which was our duty to do.  Luke 17:10