Oil price crap - DFWstangs Forums
 
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post #1 of 10 (permalink) Old 05-05-2009, 09:19 AM Thread Starter
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Oil price crap

This is such BS...we have this headline:
Quote:
Oil May Break Resistance, Rise to $71.55: Technical Analysis
http://www.bloomberg.com/apps/news?p...0&refer=energy

Then here we go with supply:
Quote:
Rising reserves of unused oil put strain on storage

Rotterdam, Europe's biggest port, is running out of room for more oil, US reserves are at a 19-year record and tankers are being used as floating storage off Britain's south coast, even though OPEC is reducing production.

"From a commodities point of view, world trade is appalling and the demand is just not there," said Ahmad Abdallah, commodities analyst at Gavekal, the economics consultancy. "All inventories are rising – they are bursting at their seams."
http://www.telegraph.co.uk/finance/n...n-storage.html

So...we gonna start hearing the supply and demand BS again to justify the price hike??

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post #2 of 10 (permalink) Old 05-05-2009, 09:47 AM
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I'm still trying to figure out what caused the price of gas to jump 17 cents yesterday by my house. I can't find a reason anywhere.

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post #3 of 10 (permalink) Old 05-05-2009, 10:00 AM
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Originally Posted by HOOCBB View Post
I'm still trying to figure out what caused the price of gas to jump 17 cents yesterday by my house. I can't find a reason anywhere.
The answer is obvious. click
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post #4 of 10 (permalink) Old 05-05-2009, 10:38 AM
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If oil execs were to start getting 'handled' properly, prices wouldn't do this.

1/19/09, the last day of Free America.
Pericles "Freedom is the sure possession of those alone who have the courage to defend it. "

"[T]he people alone have an incontestable, unalienable, and indefeasible right to institute government and to reform, alter, or totally change the same when their protection, safety, prosperity, and happiness require it." --Samuel Adams


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post #5 of 10 (permalink) Old 05-05-2009, 01:31 PM
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Yep, some definite market manipulation going on there with a glut of supply and prices rising. Hopefully once they've filled every container ship and storage vessel then the price of oil will have to drop.
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post #6 of 10 (permalink) Old 05-08-2009, 03:32 PM
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I hope so too. Got a deal on premium today for the 10 mpg stang...most expensive fuel purchase since last year...spent $26.50

Stupid gas guzzler...lucky I only drive it once a week...




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post #7 of 10 (permalink) Old 05-08-2009, 03:54 PM
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Diesel is staying about the same so i cant complain.
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post #8 of 10 (permalink) Old 05-08-2009, 05:48 PM
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Its fucking stupid.
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post #9 of 10 (permalink) Old 05-08-2009, 06:00 PM
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I haven't noticed, I drive 15 mins to work now instead of 60, heh.

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post #10 of 10 (permalink) Old 05-08-2009, 11:27 PM
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Quote:
Originally Posted by 46Tbird View Post
The answer is obvious. click


Bahh! They only make a nickel a gallon!
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