Author Topic: Crude Oil Prices (Read 91603 times)

Richard Sherwin · « **Reply #80 on:** December 10, 2008, 07:17:22 PM »

One reason that food prices have not come down that much is because of the price of diesel fuel. A couple years ago it was lower than the price of gas, now it is much higher. It is diesel that runs tractors and trucks. In bee keeping for instance all of our vehicles, from the forklifts to the one ton flat beds to the semi are all powered by a diesel engine.

Richard S.

Wally · « **Reply #81 on:** December 11, 2008, 05:19:30 AM »

Could someone please explain to me how it can be that the prognosticators of oil prices have any credibility anymore? 6 months ago we were told that oil would possible reach $200 per barrel. Now we are told that it could drop to near $20 per barrel.

Does anyone believe these guys anymore? As one congressman was so fond of saying, "Beam me up Scotty."

Richard Sherwin · « **Reply #82 on:** December 11, 2008, 07:51:15 AM »

Just like weather forecasters, anything beyond about 4 days is pretty much a wild guess.

Quote from: Wally on December 11, 2008, 05:19:30 AM

Could someone please explain to me how it can be that the prognosticators of oil prices have any credibility anymore? 6 months ago we were told that oil would possible reach $200 per barrel. Now we are told that it could drop to near $20 per barrel. Does anyone believe these guys anymore? As one congressman was so fond of saying, "Beam me up Scotty."

Richard Myers · « **Reply #83 on:** December 11, 2008, 09:09:28 AM »

The greed in the world is coming home to hurt those who killed the goose that laid the golden egg. Remember what OPEC and the oil companies did five months ago? $5 a gallon gas.

And remember what the home contractors did to the construction industry?

And remember what the medical profession did to healthcare costs? Yes, I know the insurance companies participated.

And how about the price of rice, wheat, and corn?

And lest I not be complete with regards to the greed to make money, how about the auto manufacturers that pushed SUV and trucks at $40,000.

And, the cost of education?

And the worst offenders, the cost of government. So, the corrupt politicians took money from corrupt businesses and all who wanted their influence. And, the government budgets are now busted. Makes one recall the Bible prophecy that states just before the return of our Lord, the world would be where it was just before the great flood.

So much can be seen in the price of crude over the last five years.

Richard Myers · « **Reply #84 on:** January 05, 2009, 06:24:55 PM »

Oil rose to $46 today. And, Obama's man chosen to carry the energy program wants to increase taxes on fuel so we will be forced to use less.

Love those who want to hurt the poor and still fly their private jets and drive their SUVs and heat and cool their huge houses. Such corruption is as it was at the time of the flood.

Mimi · « **Reply #85 on:** January 20, 2009, 02:13:36 PM »

Ugh! We are back up to $1.98/gallon!

Richard Sherwin · « **Reply #86 on:** January 20, 2009, 07:45:10 PM »

As long as gas prices stay in the 2 dollar area I can't complain. Hopefully diesel prices will hold as well. It was in the summer of 1980 that I first paid over $1 so in today's dollars I'd say $2 a gallon is a real bargain.

Richard Myers · « **Reply #87 on:** January 22, 2009, 10:36:29 AM »

"A real bargain" for the millions who have lost their jobs? Comparing prices to 1980 has little value in today's economy. The Democrats wants to lower consumption of gas so they are wanting to increase taxes on it. The poor are suffering and so is the middle class who struggle with not only fuel prices, but housing, medical, food, and education costs along with increasing taxes on everything. I don't see any bargains in the world today, except the cost of salvation. Even there, it is not a bargain when we look at what it cost. The cost was born by our heavenly Father and His Son. The cost was infinitely higher than we understand. So sad that so many refuse this free gift.

Richard Myers · « **Reply #88 on:** January 22, 2009, 10:56:04 AM »

Supply and demand have dictated crude oil prices in today's market. The economy continues to deteriorate and is seen by weak demand and increasing supplies.

Light, sweet crude for March delivery was down $2.50 to $41.05 a barrel on the New York Mercantile Exchange. Oil was down $1.30 a barrel just before the figures were released. Gas is down to 1.05 with the average retail price at 1.85.

Richard Myers · « **Reply #89 on:** January 25, 2009, 01:27:09 PM »

Would you believe 97 cents a gallon gas? Yes!! There is a gas war on in a South Carolina county. How long can they lose money? Or......are they not losing money?

My guess is that they are not losing money.

January 25, 2009

Looking for a bargain on gas in the Carolinas. Look no further than Lancaster County where gas wars have dropped the prices below a dollar. The war began when a brand new station opened up selling gas for $.97 a gallon and the other station quickley matched that low price.. Dozens of motorists lined up on Saturday to fill up their tanks. No word on how long the war will continue, but one station owner says he already has more fuel on the way. source

Richard Myers · « **Reply #90 on:** January 25, 2009, 01:30:57 PM »

I am old enough to remember the gas wars in the "good ole days". We got gold bond stamps, green stamps, or glasses with each fillup. I remember the price of gas in South Carolina a "few years" ago. The gas war forced prices down to 17 cents a gallon!!

Richard Sherwin · « **Reply #91 on:** January 25, 2009, 01:48:26 PM »

Not only that but your windshield got cleaned and your oil level checked, and you never had to get out of your car!

Quote from: Richard Myers on January 25, 2009, 01:30:57 PM

I am old enough to remember the gas wars in the "good ole days". We got gold bond stamps, green stamps, or glasses with each fillup. I remember the price of gas in South Carolina a "few years" ago. The gas war forced prices down to 17 cents a gallon!!

Sister Dee · « **Reply #92 on:** January 25, 2009, 03:14:20 PM »

Quote from: Richard Sherwin on January 25, 2009, 01:48:26 PM

Not only that but your windshield got cleaned and your oil level checked, and you never had to get out of your car!

Quote from: Richard Myers on January 25, 2009, 01:30:57 PM
I am old enough to remember the gas wars in the "good ole days". We got gold bond stamps, green stamps, or glasses with each fillup. I remember the price of gas in South Carolina a "few years" ago. The gas war forced prices down to 17 cents a gallon!!

And just how old are you guys? Okay, I admit it, I remember most of that, too!

(But, not 17 cents a gallon!) My grown children would never believe it!

Richard Myers · « **Reply #93 on:** January 25, 2009, 05:21:54 PM »

Well....if you consider that we are paying a dollar a gallon more than they are in South Carolina today, you don't have to be that old to go back and find when gas was 1.17 in the rest of the US.

I think the price of gas was probably around 30 cents a gallon in the West when the gas wars were on. Maybe a little less. When I was in college I was paying around 35 cents a gallon.

Wally · « **Reply #94 on:** January 25, 2009, 05:29:49 PM »

Quote from: Richard Myers on January 25, 2009, 05:21:54 PM

Well....if you consider that we are paying a dollar a gallon more than they are in South Carolina today, you don't have to be that old to go back and find when gas was 1.17 in the rest of the US.

I think the price of gas was probably around 30 cents a gallon in the West when the gas wars were on. Maybe a little less. When I was in college I was paying around 35 cents a gallon.

When I was in college we were paying 25 cents a gallon, but I saw it at 19 cents in southern Texas. That was 1972. Everything changed the next year, of course.

No matter how low the price of crude goes, the State an federal taxes we pay on a gallon of gas can go as high as 63 cents a gallon, depending on what State one lives in. Some States, like mine, have an automatic increase every year. They have us over a barrel--no pun intended.

Richard Sherwin · « **Reply #95 on:** January 25, 2009, 05:34:36 PM »

I think the least I remember it as a kid in Ellijay GA was for 22 cents a gallon, that would have been in the late '60's. In the summer of '80 I paid over $1, $104.9, to be exact, for the first time at a Texaco station in Ringgold GA.

Mimi · « **Reply #96 on:** January 26, 2009, 05:50:25 AM »

In the 1950s when I was but a babe, I recall it being 17 cents a gallon. It was common to have price wars in west Texas.

Mimi · « **Reply #97 on:** August 11, 2009, 06:54:44 PM »

Oil prices fall after Opec report

Oil prices have fallen after producers group Opec said it now expected demand for its crude to decline further than predicted next year.

Blaming the slow nature of the global economic recovery, Opec now expects demand for its crude to average 27.97 million barrels per day in 2010.

This is 480,000 barrels lower than its 2009 estimate and greater than the 380,000 fall it previously predicted.

US light crude ended down $1.15 a barrel to $69.45.

London Brent finished $1.04 lower at $72.46.

http://news.bbc.co.uk/2/hi/business/8195109.stm

Richard Myers · « **Reply #98 on:** August 23, 2009, 06:04:47 AM »

Hopefully they will see that their supply controls are hurting their pocketbook.

Monopolistic practices are not free enterprise. Their effort to keep prices higher than a free market would dictate will cause the recession/depression to be extended. High energy prices resulting from their monopolistic practices helped to create the problem in the first place.

A lot of speculators lost a lot of money when the market collapsed. It can happen again. A lot of strange things will be happening as the world reveals how selfish it has become. Like the days just prior to the great world-wide flood.

Cop · « **Reply #99 on:** August 26, 2009, 04:11:30 AM »

As long as the Liberal-Left controls America, we will have high prices. We have oil offshore and on shore, but American companies are forbidden to drill. So we have to give our dollars to nations who hate everything we believe in to purchase crude from them. We can spend billions to support another nation and their workers, but none to support Americans.

"President Obama has opposed any expanded oil drilling off American shores largely on environmental grounds,...But now Obama may start hearing cries of "foul" after the U.S. Export-Import Bank promised Petrobras, Brazil's state-owned oil company, $2 billion in loan guarantees to help finance lucrative drilling off the shores of Rio De Janeiro."

http://www.foxnews.com/politics/2009/08/20/loan-brazilian-oil-company-riles-conservatives-favor-offshore-drilling/