Author Topic: Crude Oil Prices  (Read 50842 times)

0 Members and 4 Guests are viewing this topic.

Mimi

  • Regular Member
  • Posts: 27796
  • www.remnant-online.org
    • The Remnant Online
Re: Crude Oil Prices
« Reply #60 on: October 31, 2008, 04:41:02 PM »
It happened to me today in the grocery while looking for Agave Nectar!  ;D
  For ever, O LORD, thy word is settled in heaven. Psalm 119:89 

Larry Lyons

  • Full Member
  • Posts: 1629
Re: Crude Oil Prices
« Reply #61 on: October 31, 2008, 06:50:35 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.  ;)

 
Sybil, I know you can survive anywhere as long as you have food, shelter, and a piano, right?  ;D

Mimi

  • Regular Member
  • Posts: 27796
  • www.remnant-online.org
    • The Remnant Online
Re: Crude Oil Prices
« Reply #62 on: October 31, 2008, 06:55:05 PM »
Yep!  ;) Can't do without the piano! Larry, I wonder where that 1857 Steinway is by now? Probably molding in the backwaters of Arkansas. That is where the woman moved who bought it.  :(
  For ever, O LORD, thy word is settled in heaven. Psalm 119:89 

Richard Myers

  • Servant
  • Posts: 40058
  • A glorious sunset teaches of trust and faith.....
    • The Remnant Online
Re: Crude Oil Prices
« Reply #63 on: November 11, 2008, 08:48:00 AM »
Oil prices are now under $60.  Back to normal levels before Katrina. And gas?  $2.25 for me. Diesel $2.99. Amazing! They still want to make a killing on diesel! 74 cents higher than gas.  And I am suppose to feel sorry for the oil industry?  Greed and corruption extend into every area of life. The world is rejecting morality more and more.  The younger generation was reflected in the presidency of Bill Clinton and now we have an even younger president in Obama. Want to see the fall of moral standards? Watch what this young man does. He will make Clinton look like a preacher. Each successive generation appears more like the world before the flood.
Jesus receives His reward when we reflect His character, the fruits of the Spirit......We deny Jesus His reward when we do not.

Richard Sherwin

  • Keeper of Bees
  • Full Member
  • Posts: 1567
Re: Crude Oil Prices
« Reply #64 on: November 11, 2008, 08:57:24 AM »
There is a fine line between greed and being a good business person and I would venture that is a very vague fine line.
Laughter is an instant vacation

Richard Myers

  • Servant
  • Posts: 40058
  • A glorious sunset teaches of trust and faith.....
    • The Remnant Online
Re: Crude Oil Prices
« Reply #65 on: November 11, 2008, 09:08:05 AM »
Gasoline in Iowa is under $1.80 a gallon.

A "good" businessman does not take advantage of people with monopolistic practices. Vertical integration and control of supply coupled with large oil companies buying out other large oil companies has created a lot of not so "good" businessmen in the oil business.
Jesus receives His reward when we reflect His character, the fruits of the Spirit......We deny Jesus His reward when we do not.

Mimi

  • Regular Member
  • Posts: 27796
  • www.remnant-online.org
    • The Remnant Online
Re: Crude Oil Prices
« Reply #66 on: November 13, 2008, 09:09:19 AM »
Barrel of crude at 12 noon Eastern = $56.06

We are still over $2/gallon. $2.50 last I saw.
  For ever, O LORD, thy word is settled in heaven. Psalm 119:89 

Lewis

  • Full Member
  • Posts: 1639
Re: Crude Oil Prices
« Reply #67 on: November 13, 2008, 09:13:40 AM »
Down below gas is in the $1.80 range. Up here it is $2.50 and diesel is $3.20.

JimB

  • Servant
  • Assistant Administrator
  • Posts: 7439
  • Pro 12:28 in the pathway thereof there is no death
Re: Crude Oil Prices
« Reply #68 on: November 13, 2008, 09:19:15 AM »
This morning it was around $1.99.

According to http://www.gasbuddy.com/gb_gastemperaturemap.aspx the North-East and the West seem to be the most expensive right now.
By communion with God in nature, the mind is uplifted, and the heart finds rest.  {DA 291.1}

Wally

  • Senior Moderator
  • Posts: 5399
  • Romans 8:35, 38, 39
Re: Crude Oil Prices
« Reply #69 on: November 13, 2008, 09:39:53 AM »
We're around $2.20-2.25 now, with diesel around $3.10.  This is tolerable.
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

  • Full Member
  • Posts: 1769
Re: Crude Oil Prices
« Reply #70 on: November 13, 2008, 02:28:29 PM »
$1.99 here this morning.  I never thought we'd see that again!  So hard to believe that just months ago we were paying about twice that. 

Mimi

  • Regular Member
  • Posts: 27796
  • www.remnant-online.org
    • The Remnant Online
Re: Crude Oil Prices
« Reply #71 on: November 13, 2008, 06:16:20 PM »
At those prices, I guess I can adjust my budget to include two tanks of gas per month!

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

Richard Myers

  • Servant
  • Posts: 40058
  • A glorious sunset teaches of trust and faith.....
    • The Remnant Online
Re: Crude Oil Prices
« Reply #72 on: December 08, 2008, 10:30:02 PM »
Oil closed at $43.90 today.  :)  I paid $1.59 a gallon for my gas today. :) :)  The OPEC monopoly is cutting production again.
Jesus receives His reward when we reflect His character, the fruits of the Spirit......We deny Jesus His reward when we do not.

Mimi

  • Regular Member
  • Posts: 27796
  • www.remnant-online.org
    • The Remnant Online
Re: Crude Oil Prices
« Reply #73 on: December 09, 2008, 05:56:02 AM »
... and I was blest to locate gasoline for $1.61/gallon. It is nice to be able to fill up on $20 these days!
  For ever, O LORD, thy word is settled in heaven. Psalm 119:89 

Wally

  • Senior Moderator
  • Posts: 5399
  • Romans 8:35, 38, 39
Re: Crude Oil Prices
« Reply #74 on: December 09, 2008, 07:57:09 AM »
Yes, I filled my truck last week, and it only cost $50.  Last summer it would have been over $100.  I'm thankful that I don't have to use it very often.
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

Lewis

  • Full Member
  • Posts: 1639
Re: Crude Oil Prices
« Reply #75 on: December 09, 2008, 08:29:19 AM »
Our gas is $1.99

Sister Dee

  • Full Member
  • Posts: 1769
Re: Crude Oil Prices
« Reply #76 on: December 09, 2008, 09:15:42 AM »
When I went out yesterday I was shocked to see it at $1.48!   :o  I wonder just how much lower it will go?  Surely not back to $1.00 per gallon. 

Not understanding economics awfully well, perhaps someone came explain this to me.  Why is it when gasoline prices increase that food prices also increase, but now that the gas prices have come down, the food prices still increase?   ??? 

Wally

  • Senior Moderator
  • Posts: 5399
  • Romans 8:35, 38, 39
Re: Crude Oil Prices
« Reply #77 on: December 09, 2008, 09:31:45 AM »
When I went out yesterday I was shocked to see it at $1.48!   :o  I wonder just how much lower it will go?  Surely not back to $1.00 per gallon. 

Not understanding economics awfully well, perhaps someone came explain this to me.  Why is it when gasoline prices increase that food prices also increase, but now that the gas prices have come down, the food prices still increase?   ??? 

I'm no economist, but I know that it takes awhile for things to move through the system.  Gasoline comes and goes rather rapidly, but packaged food goes through a lot of processing before it reaches the shelf.  Plus the fact that oil prices have a lot to do with speculation on the world market, and food prices are determined by a variety of factors, only part of which is speculation on future grain and bean supplies.  Plastic prices increase, which increases the cost of packaging.  They will come down when the new petroleum (at lower prices) finally gets refined into plastics.  Produce prices generally move up and down faster than packaged goods.  This is a gross over simplification of what goes on, but it sort of gives you some idea.  Add to all that the cost of shipping all this stuff.  Those prices come down slowly partly because the shippers are trying to recoup some of what they lost when petroleum prices went up so fast.
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

JimB

  • Servant
  • Assistant Administrator
  • Posts: 7439
  • Pro 12:28 in the pathway thereof there is no death
Re: Crude Oil Prices
« Reply #78 on: December 10, 2008, 05:33:46 AM »
I wonder just how much lower it will go?  Surely not back to $1.00 per gallon. 

Interesting question/comment..... take a look at this...

Quote
Gulf Oil CEO says gas could hit $1 next year

Gulf Oil CEO Joe Petrowski said on Wednesday that the price of oil could sink to $20 per barrel, and there is a chance gasoline prices could drop as low as $1 per gallon by early next year.

Source
By communion with God in nature, the mind is uplifted, and the heart finds rest.  {DA 291.1}

Sister Dee

  • Full Member
  • Posts: 1769
Re: Crude Oil Prices
« Reply #79 on: December 10, 2008, 07:36:09 AM »
Perhaps it is only my imagination, but it does seem that food prices went up a whole lot faster than they come down!   :D

So, $1.00/gallon gas is not so farfetched after all.  Amazing!  BTW, I saw it down to $1.45 yesterday.  Looks like we are on our way!