Oil...needs to come back down - DFWstangs Forums
 
LinkBack Thread Tools Display Modes
post #1 of 34 (permalink) Old 05-08-2009, 08:12 AM Thread Starter
Cummins > Powerstroke
 
8mpg's Avatar
 
Join Date: Apr 2002
Location: id rather be cummin than strokin
Posts: 19,068
Oil...needs to come back down

It has been all over the place this last week. It's up about $10 from a week ago for no reason. With all the banks needing money now, GM/Chrysler going bankrupt, unemployment still at a high...why is oil going up? OPEC's cut sure isnt the reason

2006 Dodge Ram Megacab Cummins
1969 Mustang Coupe
1969 Mustang Mach1
1969 Chevy C10
1966 Mustang Coupe
8mpg is offline  
Sponsored Links
Advertisement
 
post #2 of 34 (permalink) Old 05-08-2009, 08:13 AM
mannish boy
 
Cooter's Avatar
 
Join Date: Jun 2000
Location: drunk on diesel
Posts: 31,758
needs to go UP from where I'm standing
Cooter is offline  
post #3 of 34 (permalink) Old 05-08-2009, 08:17 AM
T-MINUS
 
Sean88gt's Avatar
 
Join Date: Sep 2000
Posts: 28,540
Speculators are back. The surge is because they feel the economy may be turning around.

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


Sean88gt is offline  
 
post #4 of 34 (permalink) Old 05-08-2009, 08:20 AM Thread Starter
Cummins > Powerstroke
 
8mpg's Avatar
 
Join Date: Apr 2002
Location: id rather be cummin than strokin
Posts: 19,068
Quote:
Originally Posted by Sean88gt View Post
Speculators are back. The surge is because they feel the economy may be turning around.
lol...the economy isnt going anywhere. The top banks need $75,000,000,000 to stay afloat

2006 Dodge Ram Megacab Cummins
1969 Mustang Coupe
1969 Mustang Mach1
1969 Chevy C10
1966 Mustang Coupe
8mpg is offline  
post #5 of 34 (permalink) Old 05-08-2009, 08:22 AM
T-MINUS
 
Sean88gt's Avatar
 
Join Date: Sep 2000
Posts: 28,540
That's only 75,000 Million, Tim!
One fart by the fed and that money is on the street.

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


Sean88gt is offline  
post #6 of 34 (permalink) Old 05-08-2009, 12:05 PM Thread Starter
Cummins > Powerstroke
 
8mpg's Avatar
 
Join Date: Apr 2002
Location: id rather be cummin than strokin
Posts: 19,068
Quote:
Originally Posted by Sean88gt View Post
That's only 75,000 Million, Tim!
One fart by the fed and that money is on the street.
Right on man...the key is to just keep printing money

2006 Dodge Ram Megacab Cummins
1969 Mustang Coupe
1969 Mustang Mach1
1969 Chevy C10
1966 Mustang Coupe
8mpg is offline  
post #7 of 34 (permalink) Old 05-08-2009, 12:08 PM
IA2
 
mikeb's Avatar
 
Join Date: Mar 2001
Posts: 22,413
Quote:
Originally Posted by Sean88gt View Post
Speculators are back. The surge is because they feel the economy may be turning around.
Bingo. Most of the oil storage facilities are now brimming full of oil, and there are tankers parked in the oceans, also full of oil, but the price keeps going up. This defies logic.

If there was EVER any question of whether speculators have an influence on oil prices, this should make it perfectly clear. So much for the government stepping in and stopping oil speculation.
mikeb is offline  
post #8 of 34 (permalink) Old 05-08-2009, 12:28 PM
WE ARE THE CHAMPIONS!
 
Sgt Beavis's Avatar
 
Join Date: Jul 2002
Location: Lake Dallas, TX
Posts: 10,859
The market is basically back in kantango. I think speculators are trying to force the price up to get out of that. It was one of the influences that pushed it up last summer.

However this time it might end up blowing up in their faces. Almost all storage facilities are at capacity and cannot take any more oil. The spot market is still not taking deliveries at high prices. Also, gasoline futures have been rising which is going to force consumers to cut back more.

I wonder how many derivatives have been sold on this bubble?
Sgt Beavis is offline  
post #9 of 34 (permalink) Old 05-08-2009, 12:47 PM
Dyno Racing King!!!
 
Juiceweezl's Avatar
 
Join Date: May 2005
Location: 2V-ville
Posts: 3,675
Quote:
Originally Posted by mikeb View Post
Bingo. Most of the oil storage facilities are now brimming full of oil, and there are tankers parked in the oceans, also full of oil, but the price keeps going up. This defies logic.

If there was EVER any question of whether speculators have an influence on oil prices, this should make it perfectly clear. So much for the government stepping in and stopping oil speculation.
So did you want the government to get more involved? I thought you guys wanted no involvement. Which is it?

Juiceweezl
Dallas, TX
2000 Black GT
2V with a fuel pump and some other goodies
Touched by the hand of a tuning god -- Mr. Wilson
Juiceweezl is offline  
post #10 of 34 (permalink) Old 05-08-2009, 12:49 PM
Lifer
 
Join Date: Oct 2006
Posts: 7,017
I want no involvement by the government, outside of maintaining the strategic petroleum reserve.
Mr Majestyk is offline  
post #11 of 34 (permalink) Old 05-08-2009, 01:48 PM
Lifer
 
black90gt's Avatar
 
Join Date: Sep 2000
Location: Earth
Posts: 1,921
i want to meet some of these so called speculators and punch them in the throat
black90gt is offline  
post #12 of 34 (permalink) Old 05-08-2009, 02:10 PM
T-MINUS
 
Sean88gt's Avatar
 
Join Date: Sep 2000
Posts: 28,540
Quote:
Originally Posted by black90gt View Post
i want to meet some of these so called speculators and punch them in the throat
They'll be the guys with the signs that say "will trade oil for food" when they get stuck with high dollar contracts and no place to unload them on. They got us all last year, good for them. I doubt they'll sneak another run up on us like that.

But I would like to take this opportunity to thank President Obama for cutting the balls off of offshore oil development and forcing us into an oil-dependant position.

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


Sean88gt is offline  
post #13 of 34 (permalink) Old 05-09-2009, 12:32 AM
IA2
 
mikeb's Avatar
 
Join Date: Mar 2001
Posts: 22,413
Quote:
Originally Posted by Juiceweezl View Post
So did you want the government to get more involved? I thought you guys wanted no involvement. Which is it?
WHERE did I say that? You are very quick to jump to conclusions.
mikeb is offline  
post #14 of 34 (permalink) Old 05-09-2009, 07:45 AM
Lifer
 
Join Date: Mar 2002
Location: South of the Red River
Posts: 3,332
Quote:
Originally Posted by black90gt View Post
i want to meet some of these so called speculators and punch them in the throat
Yep.

Talk is cheap because supply exceeds demand!
black01gt is offline  
post #15 of 34 (permalink) Old 05-09-2009, 07:46 AM
Lifer
 
Join Date: Nov 2001
Location: Ellis County
Posts: 18,370
Kind of hard to blame Bush and Cheney, huh?

CHL holder and Conservative...AKA "Domestic Terrorist"
Vertnut is offline  
post #16 of 34 (permalink) Old 05-09-2009, 07:50 AM
Lifer
 
Join Date: Mar 2002
Location: South of the Red River
Posts: 3,332
Quote:
Originally Posted by Sean88gt View Post
But I would like to take this opportunity to thank President Obama for cutting the balls off of offshore oil development and forcing us into an oil-dependant position.
Where are you going to put the "new" oil?

I read recently that the Barnett & Haynesworth (Northern Lousiana) natural gas fields = 220 trillion cubic feet.

Talk is cheap because supply exceeds demand!
black01gt is offline  
post #17 of 34 (permalink) Old 05-09-2009, 07:56 AM
Time Served
 
Join Date: Jan 2008
Location: d f w m u s t a n g s . n e t
Posts: 299
Quote:
Originally Posted by black01gt View Post
Where are you going to put the "new" oil?

I read recently that the Barnett & Haynesworth (Northern Lousiana) natural gas fields = 220 trillion cubic feet.
*Haynesville Shale

d f w m u s t a n g s . n e t d f w m u s t a n g s . n e t
d f w m u s t a n g s . n e t d f w m u s t a n g s . n e t
d f w m u s t a n g s . n e t d f w m u s t a n g s . n e t
d f w m u s t a n g s . n e t d f w m u s t a n g s . n e t
d f w m u s t a n g s . n e t d f w m u s t a n g s . n e t

fuck canada
musbrad2 is offline  
post #18 of 34 (permalink) Old 05-09-2009, 08:03 AM
Lifer
 
Join Date: Mar 2002
Location: South of the Red River
Posts: 3,332
Quote:
Originally Posted by musbrad2 View Post
*Haynesville Shale
Thanks.

Talk is cheap because supply exceeds demand!
black01gt is offline  
post #19 of 34 (permalink) Old 05-09-2009, 11:12 AM
Lifer
 
Trip McNeely's Avatar
 
Join Date: Mar 2004
Posts: 29,396
Oil needs to go back up to about 75-80 dollars a barrel, and Ill be sitting pretty.

CANADIANS = DOUCHERS

Trip McNeely is offline  
post #20 of 34 (permalink) Old 05-09-2009, 11:38 AM
PAN
 
Join Date: Mar 2002
Location: Under a rock
Posts: 20,154
Quote:
Originally Posted by black01gt View Post
Where are you going to put the "new" oil?

I read recently that the Barnett & Haynesworth (Northern Lousiana) natural gas fields = 220 trillion cubic feet.

Incomplete thought there brotha. You saying they are going to put it back in the ground?
Fox466 is offline  
post #21 of 34 (permalink) Old 05-09-2009, 11:39 AM
Lifer
 
Trip McNeely's Avatar
 
Join Date: Mar 2004
Posts: 29,396
Theres plenty of salt domes around those areas to store O&G.

CANADIANS = DOUCHERS

Trip McNeely is offline  
post #22 of 34 (permalink) Old 05-09-2009, 09:57 PM
Lifer
 
Join Date: Mar 2002
Location: South of the Red River
Posts: 3,332
Quote:
Originally Posted by Trip McNeely View Post
Theres plenty of salt domes around those areas to store O&G.
Aren't salt domes for storing natural gas only?

Talk is cheap because supply exceeds demand!
black01gt is offline  
post #23 of 34 (permalink) Old 05-09-2009, 09:59 PM
Lifer
 
Join Date: Mar 2002
Location: South of the Red River
Posts: 3,332
Quote:
Originally Posted by Fox466 View Post
Incomplete thought there brotha. You saying they are going to put it back in the ground?
No. I'm saying don't bring it out of the ground with healthy reserves already on hand.

Talk is cheap because supply exceeds demand!
black01gt is offline  
post #24 of 34 (permalink) Old 05-09-2009, 10:31 PM
Lifer
 
Justa4banger's Avatar
 
Join Date: Oct 2005
Location: DFW
Posts: 3,030
should have used the 1.83 trillion to subsidise oil prices to about 25 cents/gal.

that would stimulate the economy

85 SVO 2.7t coming soon
Old 438whp 1/8th??
Older 375whp [email protected]

We will never forget you WILD 42!
Friends I've Lost

Even if you make something dummy-proof, the world makes a better dummy.
Justa4banger is offline  
post #25 of 34 (permalink) Old 05-10-2009, 05:45 PM
ebay pimp
 
Join Date: Oct 2001
Location: Carrollton, TX
Posts: 4,360
Cheap oil that we have now is only because of the recession. When the economy is in full stride again, oil will go right back to $150 QUICK.
White trash wagon is offline  
post #26 of 34 (permalink) Old 05-10-2009, 06:24 PM
Lifer
 
VETTKLR's Avatar
 
Join Date: Nov 2003
Location: TX Panhandle
Posts: 1,649
Then OPEC will hedge prices at $100-120/bbl and flood the market overnight, just like the early 80's.

Our oil industry will collapse, it will not be bailed out. families/businesses/banks/towns/cities/states that are oil dependent will crumble.

Why not? History's repeating itself all around us.

Just keep an eye on 'ole T. Boone and Co.. He knew when it was going down last time and hedged. My guess is that this will all go down with the second coming of Reagan, right after Jimmy Carter v2.0 is ousted.

VETTKLR is offline  
post #27 of 34 (permalink) Old 05-11-2009, 08:39 AM
Lifer
 
Justa4banger's Avatar
 
Join Date: Oct 2005
Location: DFW
Posts: 3,030
Quote:
Originally Posted by White trash wagon View Post
Cheap oil that we have now is only because of the recession. When the economy is in full stride again, oil will go right back to $150 QUICK.
Good bring 200.00 a barrel oil, then maybe we'll get our asses and stop being dependant on foreign oil.

85 SVO 2.7t coming soon
Old 438whp 1/8th??
Older 375whp [email protected]

We will never forget you WILD 42!
Friends I've Lost

Even if you make something dummy-proof, the world makes a better dummy.
Justa4banger is offline  
post #28 of 34 (permalink) Old 05-11-2009, 08:51 AM
T-MINUS
 
Sean88gt's Avatar
 
Join Date: Sep 2000
Posts: 28,540
Quote:
Originally Posted by Justa4banger View Post
Good bring 200.00 a barrel oil, then maybe we'll get our asses and stop being dependant on foreign oil.
Obama has made exploration for domestic oil much harder by slapping down some of the policies that Bush was pushing forward.

I wonder when companies, to save their ass just throw a finger to the fed's and push forward on their customer's behalf?

Heard of a motorcycle dealer in Cali doing this in regards to the absolutely bullshit consumer safety standards in regards to mini bikes.

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


Sean88gt is offline  
post #29 of 34 (permalink) Old 05-11-2009, 09:07 AM
Lifer
 
FATHERFORD's Avatar
 
Join Date: Oct 2003
Location: Katy and Waco
Posts: 1,932
Quote:
Originally Posted by Cooter View Post
needs to go UP from where I'm standing
Agree

Quote:
Originally Posted by Trip McNeely View Post
Oil needs to go back up to about 75-80 dollars a barrel, and Ill be sitting pretty.
Agree

"His tricked out trans am guzzles every dime he brings home"

2004 RC SWB F150 5.4 - Saleen S/C'd 5.4 3V
1979 Pace Car - Not the usual mods
1984 Gt-350 - Trickflow'd 302
1992 Coupe - Vortech'd 393
1997 Viper GTS - H/C and Giggles

Buy my F-150 Vortech Setup! - Link
FATHERFORD is offline  
post #30 of 34 (permalink) Old 05-11-2009, 09:13 AM
Lifer
 
Justa4banger's Avatar
 
Join Date: Oct 2005
Location: DFW
Posts: 3,030
Quote:
Originally Posted by Sean88gt View Post
Obama has made exploration for domestic oil much harder by slapping down some of the policies that Bush was pushing forward.

I wonder when companies, to save their ass just throw a finger to the fed's and push forward on their customer's behalf?

Heard of a motorcycle dealer in Cali doing this in regards to the absolutely bullshit consumer safety standards in regards to mini bikes.
Eventually this will happen..... The govt will try to back the companies into a corner and all hell will break loose. Companies will then get support from the state they are in( people want jobs) and it will get real interesting....

Wait till Cali is entirely broke....... i bet they'll be the first to do this.
They'll do anything to survive..... Maybe leagalize pot, just to tax it and produce revenue......

85 SVO 2.7t coming soon
Old 438whp 1/8th??
Older 375whp [email protected]

We will never forget you WILD 42!
Friends I've Lost

Even if you make something dummy-proof, the world makes a better dummy.
Justa4banger is offline  
post #31 of 34 (permalink) Old 05-12-2009, 10:04 PM
Oil & Gas
 
5starstanger's Avatar
 
Join Date: May 2005
Location: Keller
Posts: 2,140
I'd like to see it higher for alot of reasons.

1965 Mustang coupe 289
2010 Edge
2010 Altima SL (Wife)
5starstanger is offline  
post #32 of 34 (permalink) Old 05-12-2009, 11:26 PM
Time Served
 
Join Date: Sep 2005
Posts: 784
Quote:
Originally Posted by 8mpg View Post
Right on man...the key is to just keep printing money
when they run out of trees they can rob all the walmarts for the monopoly games, there has to be billions hidden in those boxes!
n00b420 is offline  
post #33 of 34 (permalink) Old 05-12-2009, 11:39 PM
Lifer
 
Kart21's Avatar
 
Join Date: Feb 2006
Location: irving tx
Posts: 1,052
Quote:
Originally Posted by black90gt View Post
i want to meet some of these so called speculators and punch them in the throat
X2
You are sooo right

1/2 mile 9 turns 41.3 sec
Kart21 is offline  
post #34 of 34 (permalink) Old 05-13-2009, 11:02 AM
Lifer
 
Join Date: Mar 2002
Location: South of the Red River
Posts: 3,332
Quote:
Originally Posted by Justa4banger View Post
Good bring 200.00 a barrel oil, then maybe we'll get our asses and stop being dependant on foreign oil.
Hell yea!!! $150 a week for gas would fit right into my plan of getting by with a little extra cash. And there's no doubt that us Americans would immediately unite and stand up to the cut throat energy industry. You know, just like we have to all the other cut throat industries.

Talk is cheap because supply exceeds demand!
black01gt is offline  
Sponsored Links
Advertisement
 
Reply

Bookmarks

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the DFWstangs Forums forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in










Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode



Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome