Author Topic: Crude Oil Prices (Read 91711 times)

Richard Myers · « **Reply #120 on:** March 20, 2011, 02:18:22 PM »

If I were a Democrat and sworn to limit greenhouse gases, I would want the price to stay high. Could our president do anything to halt the downward slide? Maybe if we were to have a little war in the Middle East? That may raise the prices up to new highs. It might please mother earth.

Richard Myers · « **Reply #121 on:** August 09, 2011, 02:15:21 PM »

One of the great blessings to come when the stocks plunge is that the price of gas and heating oil goes down. The speculators who drove prices up, now lose a lot of their money. Looking for a blessing amid the disaster. The oil companies pushed the price of diesel to $4.20. That costs me $150 to fill my truck up. I burn that in one trip. Between Obama and the oil companies, people are suffering.

Immanuel · « **Reply #122 on:** August 10, 2012, 08:33:40 AM »

Oil prices are artificially high:

"With oil prices hovering around $90 a barrel and the cost to produce a barrel of oil only around $15, the profits are huge, said Gordon, whose company is still aggressively leasing mineral rights, which gives it rights to drill on certain properties." source

Mimi · « **Reply #123 on:** July 12, 2013, 04:40:46 AM »

CNN: Drivers, get ready for a gas price spike.

http://money.cnn.com/2013/07/11/news/economy/gas-oil-prices/index.html?iid=HP_LN&hpt=hp_t3

NEW YORK (CNNMoney) Source - read more.
U.S. oil prices jumped above $106 a barrel Wednesday, their highest level in over a year, as stockpiles of crude dwindled and tensions in Egypt kept traders on edge. Gasoline prices in the United States also began to move higher.

Oil prices rose nearly $3 a barrel following a report from the American Petroleum Institute showing a 9 million barrel draw down in crude oil stored in tanks around the country. Another report from the U.S. Energy information Administration showed a similar draw.

The $3 rise comes on top of gains made over the last couple of weeks after widespread protests and a military takeover in Egypt. U.S. oil prices are up 10% since the end of June.

Richard Myers · « **Reply #124 on:** November 19, 2014, 12:24:08 PM »

Crude oil settled at 74.50 today. Low crude prices have given us 2.79 gas.

Mimi · « **Reply #125 on:** November 19, 2014, 12:39:35 PM »

Excellent! Yesterday, we saw it @ $2.47/gal. Unheard of these days! And, the market is primed to make a marked adjustment. Let's see what it is when that happens.

Mimi · « **Reply #126 on:** November 22, 2014, 04:35:39 AM »

... and yesterday, we filled up @ $2.44/gallon. Amazing!

When I was old enough to notice gasoline prices, I remember Mother filling up @ $0.17/gallon in west Texas.

Mimi · « **Reply #127 on:** November 24, 2014, 05:25:44 AM »

From Reuters: Oil price seen falling to $60 if OPEC does not cut output

JimB · « **Reply #128 on:** November 24, 2014, 06:57:14 AM »

I've been kinda watching this for a couple of weeks now since my wallet thinks it's too good to be true. I saw conspiracy theory that thought the US and the Saudi's were in this together in order to lay waste to Russia's already failing economy. Especially since supposedly, according to the article, Russia needs the price to be at least $110 per barrel in order to turn a profit. However, I doubt that is true since prices dropping this low will also hurt the profits of our shale oil here in the states. Others simply say that they are simply worried that with the US producing so much more new oil that they are afraid of loosing market share and dropping the price would be one way to get most to buy your oil.

Richard Myers · « **Reply #129 on:** November 24, 2014, 08:29:41 AM »

It is interesting. Greed causes the free market to work. The cartel is getting greedy. Another word for cartel is monopoly. With less demand and more production the cartel is losing market share. Apparently, Saudi Arabia is unwilling to do the cutting. They lose income when they cut production. They want others to cut production also.

JimB · « **Reply #130 on:** December 03, 2014, 03:30:15 PM »

I can't find the article I read yesterday but in the article the Saudis more or less admitted that they were doing this to make sure that they maintained their marketshare. And apparently not only are they not going to cut production but apparently have a built up reserve that they can also make use of if they need to. Sounds like they are planning for the end game and are willing to be beat up with losses for a while if they need to.

Mimi · « **Reply #131 on:** December 03, 2014, 06:48:16 PM »

As if they need more $$ ...

We filled up @ $2.37 over the weekend. Crazy!

Wally · « **Reply #132 on:** December 04, 2014, 03:42:37 AM »

Ah, but remember when that was thought to be an exorbitant price? I can't forget the days when one could find it for 19 or 20 cents a gallon in southern Texas. The youngsters may not believe it, but it's true. Of course that all changed in 1973.

ltvvaughn · « **Reply #133 on:** December 04, 2014, 08:15:58 AM »

I remember the gas wars that would happen between stations nearby each other. I remember some prices around 15 cents a gallon.

Wally · « **Reply #134 on:** December 04, 2014, 08:23:54 AM »

Quote from: ltvvaughn on December 04, 2014, 08:15:58 AM

I remember some prices around 15 cents a gallon.

Wow, you must be a really old geezer; even older than me.

I say that with respect of course, Pastor Vaughn.

Wally · « **Reply #135 on:** December 04, 2014, 08:26:35 AM »

Quote from: Mimi on October 15, 2007, 04:41:00 PM

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>

Remember this original post my Mimi 7 years ago? Who would have thunk that it would go back to prices in the $70 range?

Don't get used to it.

Richard Myers · « **Reply #136 on:** December 04, 2014, 12:51:11 PM »

It is good that God preserves the memory of His faithful. That price was in the 50s and it was on the East Coast, not the West. Cokes were half the price in the South as out west. A nickle vs a dime.

And how about those green stamps!! And the free glasses and pitchers the gas stations gave away when they checked your battery, tires, and washed the windshield!! That was back in the days when the schools taught math and reading, not homosexuality. Jesus is coming soon!!

Mimi · « **Reply #137 on:** December 04, 2014, 01:51:07 PM »

Yes, He is! Hallelujah!

I remember the green stamps books! They were S&H Green Stamps. I helped Mother fill the books!

And then, as if overnight, the attendants were gone and I wondered to myself what would we do without them? Who would put air in our tires or check our oil, but more importantly, who is going to pump the gas? LOL As a young woman, I soon discovered who would do it. It scared me senseless but I finally learned how to do it without fear of blowing everyone up!

Richard Myers · « **Reply #138 on:** December 04, 2014, 09:53:11 PM »

And when the gas was 33 cents/gal some gave gold bond stamps.

Richard Myers · « **Reply #139 on:** December 04, 2014, 10:16:25 PM »

The Saudis are thought to be also interested in what is happening to Iran and Russia. They are not happy with Obama and Europe in allowing Iran to move forward with their nuclear program. Both Russia and Iran are hurt badly by falling oil prices.