Oil rises to near $87 barrel - DFWstangs Forums
 
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post #1 of 20 (permalink) Old 04-05-2010, 12:54 PM Thread Starter
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Oil rises to near $87 barrel

Here we go again. It seems that we learned nothing from the last oil price run up.

Can $4/gallon gas be far away?

Can we afford to let the tree huggers restrict oil exploration, and further drive the economy into the shitter?

And what about the oil speculators? Should they be allowed to drive oil up and up and up to the detriment of the economy?

OTOH, if obama sits on his ass and doesn't do anything concrete to help oil prices, i see such inaction as just another failure of his to address a main street concern, and more impetus to throw the dems out in 2010/2012.
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post #2 of 20 (permalink) Old 04-05-2010, 01:19 PM
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Quote:
Originally Posted by mikeb View Post
Here we go again. It seems that we learned nothing from the last oil price run up.

Can $4/gallon gas be far away?

Can we afford to let the tree huggers restrict oil exploration, and further drive the economy into the shitter?

And what about the oil speculators? Should they be allowed to drive oil up and up and up to the detriment of the economy?

OTOH, if obama sits on his ass and doesn't do anything concrete to help oil prices, i see such inaction as just another failure of his to address a main street concern, and more impetus to throw the dems out in 2010/2012.
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post #3 of 20 (permalink) Old 04-05-2010, 01:34 PM
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This has been in the making ever since we went into a deep recession. Gas prices were at almost $4 as we were slipping into a recession and eased up as demand fell due to the impact of the recession. Now that the market will more than likely hit 11K today, the oil prices are just riding the wave.
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post #4 of 20 (permalink) Old 04-05-2010, 01:55 PM
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Oil will continue the climb it started before this recession hit, the investment banks and hedge funds have been waiting for the economy to improve before resuming their bullshit.

And it has nothing to do with demand.
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post #5 of 20 (permalink) Old 04-05-2010, 01:58 PM Thread Starter
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Oil will continue the climb it started before this recession hit, the investment banks and hedge funds have been waiting for the economy to improve before resuming their bullshit.

And it has nothing to do with demand.
True, from what i hear oil storage facilities are brimming right now, and there are tankers full of oil parked on the ocean. The price is being manipulated.
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post #6 of 20 (permalink) Old 04-05-2010, 02:36 PM
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i wish that all of the liberals would put their money where their mouth is and buy electric cars so the demand will drop tremendously and take the oil prices with it! ...i'm sure that i'll be buying $5/gal diesel again before too long.
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post #7 of 20 (permalink) Old 04-05-2010, 02:39 PM
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i wish that all of the liberals would put their money where their mouth is and buy electric cars so the demand will drop tremendously and take the oil prices with it! ...i'm sure that i'll be buying $5/gal diesel again before too long.
Yep, we will all be buying $5 gas again in the near future and it will probably go even higher than that. There is nothing to stop this bullshit.
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post #8 of 20 (permalink) Old 04-05-2010, 02:51 PM Thread Starter
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Yep, we will all be buying $5 gas again in the near future and it will probably go even higher than that. There is nothing to stop this bullshit.
especially if cap & trade passes
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post #9 of 20 (permalink) Old 04-05-2010, 03:09 PM
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but whats causing oil to go up? demand is actually trending downward, Obama wants more off shore drilling. the only real reason is investors are driving it up

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post #10 of 20 (permalink) Old 04-05-2010, 03:49 PM
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Demand has been down since the recession.

Just think of the unemployed.

There is a solid 5% of the population not using near as much fuel. Not only do they not have money, they have no job to commute to.

Same with the 18 wheelers moving down the road. I know a logger spending almost 50% on fuel compared to what he did just a couple years ago with higher prices at the pump acounting for a part of that.
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post #11 of 20 (permalink) Old 04-05-2010, 04:09 PM
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Yep, we will all be buying $5 gas again in the near future and it will probably go even higher than that. There is nothing to stop this bullshit.
buy up the geo metros now...they'll be like gold when gas goes up that high again.
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post #12 of 20 (permalink) Old 04-05-2010, 04:36 PM
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We're coming into the sumer driving season. Oil always goes up this time of year. I think we will see gas hit $3 a gallon this summer, but I doubt it will go much higher than that. Probably won't hit $4 a gallon till next summer. Oh and the economy is doing better. Anytime that happens gas is going to go up. I'll glady pay $4 a gallon if things were rocking and rolling like they were in 2006 and 2007 lol. Come on 7 or 11 daddy needs a new truck.

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post #13 of 20 (permalink) Old 04-05-2010, 04:42 PM
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We're coming into the sumer driving season. Oil always goes up this time of year. I think we will see gas hit $3 a gallon this summer, but I doubt it will go much higher than that. Probably won't hit $4 a gallon till next summer. Oh and the economy is doing better. Anytime that happens gas is going to go up. I'll glady pay $4 a gallon if things were rocking and rolling like they were in 2006 and 2007 lol. Come on 7 or 11 daddy needs a new truck.
it's a little early to start going up for summer...and the "summer blend" is supposed to cost a little more as well, so i'm sure that you'll see a lot higher than just $3 gas by summer. it's almost $3 now...especially diesel. i'm sure that it's going to be closer to $3.50+...we'll see, though.
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post #14 of 20 (permalink) Old 04-05-2010, 06:33 PM
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but whats causing oil to go up? demand is actually trending downward, Obama wants more off shore drilling. the only real reason is investors are driving it up
those damn Saudi's have us by the balls...demand did increase fall...so to level the playing field and keep prices "stable" (i.e. higher than they should be) those assholes over there just reduced output.

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post #15 of 20 (permalink) Old 04-05-2010, 07:28 PM
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those damn Saudi's have us by the balls...demand did increase fall...so to level the playing field and keep prices "stable" (i.e. higher than they should be) those assholes over there just reduced output.
those damn Saudis!!!

http://tonto.eia.doe.gov/energy_in_b...dependence.cfm

Quote:
Sources of Net Oil Imports:

Canada (20.1%)
Saudi Arabia (13.8%)
Venezuela (10.5%)
Nigeria (8.8%)
Mexico (8.7%)

Now if they hedge their oil prices and flood the market like they did in the early 80's, THEN they'll have us by the balls.

Out of curiosity, does any Middle Eastern oil make it to the Gulf of Mexico?

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post #16 of 20 (permalink) Old 04-05-2010, 07:47 PM
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If oil can stay between 89-92$ a barrel that would be awesome.

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post #17 of 20 (permalink) Old 04-06-2010, 08:30 AM
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This bullshit will only continue until they find the political will and means to regulate these OTC dark commodity exchanges. Unfortunately these appear to be beyond the reach of the US government.

But, There are a few things the President and Congress could do to try and disrupt things.

1. Force buyers to take delivery. They are not allowed to buy a futures contract just so they can flip it.
2. Disallow the sale of WTC on dark exchanges. Hell, disallow the sale of ANY US product on a dark exchange.
3. Stop giving hedge funds exemptions for purchase limits on futures. Those exemptions were meant for companies that have an actual need for the product they are buying (refineries, airlines, etc)..
4. Require hedge funds to put down more of their own money.


Another thing they should do is fire anyone that used to work for Goldman Sachs. It's quite obvious that those people are preventing any serious reform..

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post #18 of 20 (permalink) Old 04-06-2010, 09:11 AM
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summer time is coming this is to be expected happens every year! big oil man gonna go ahead and break it off in the american publics ass so he can post some huge quarterly profits! wait till the obamites start fucking with energy taxes etc...haha

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post #19 of 20 (permalink) Old 04-06-2010, 03:12 PM
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summer time is coming this is to be expected happens every year! big oil man gonna go ahead and break it off in the american publics ass so he can post some huge quarterly profits! wait till the obamites start fucking with energy taxes etc...haha
Big oil has a lot less to do with this than you think. They "sell" oil on those markets. The sellers are not driving up the contracts, the buyers are. They DO benefit from speculators driving up the price but they themselves are not the cause of the price being driven up.

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post #20 of 20 (permalink) Old 04-06-2010, 03:23 PM
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If I were still driving a vehicle that I didn't really need that got less than 20mpg, I would have a hard time blaming the government for my increased gasoline expenses.

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