fuel price peak?
- Thread starter idtrans
- Start date
Yeah, right? In July of '08, gas was $4.09 in my area; in October, right before the election, it sank to $1.60. I don't remember what diesel was selling for in October of that year, but at its summer peak it bounced right on the $5 mark. Should be interesting to see what games get played this year....
Oil fell $2.01, the most in more than five weeks as U.S. orders for durable goods dropped in January by the most in three years, signaling slower economic growth and lower fuel demand.
“The durable goods numbers do not paint a picture of robust demand going forward"
An Energy Department report tomorrow will show U.S. crude supplies rose to the highest level in five months last week
“The durable goods numbers do not paint a picture of robust demand going forward"
An Energy Department report tomorrow will show U.S. crude supplies rose to the highest level in five months last week
You guys know that Gas went to a little over 6.00 a gallon in Fla last week. I know it's true cus, Ron Paul said so.
In July of 08 Bush lifted the moritorium for offshore drilling. The price for gas dropped soon after. It actually helped the Democrat candidates because during the summer of that year republicans were making an effective issue of the need for more drilling. The Democrats were seen as obstructing this and were looking bad,but then prices kept dropping and it faded as an issue before the election.
pearlpro
Expert Expediter
Theres twice as many Oil Production drilling platforms operating in the US this year at 1256 rigs versus 784 last year, But the real deal is manipulation because we dont have large storage farms like we used to. I live near Wood River IL, Its got a new 5 Billion dollar addition for dealing with Oil Sands from the North Dakota and Canadien oil fields, They built a new Coke plant and several distilling towers to make Gasoline and Oil products, Jet fuel and Diesel...but they didnt rebuild, the Hundred or so GIANT Million gallon storage tanks, So when you can manipulate the amount of fuel available easily then you can easily raise and lower the price claiming SUPPLYs or STOCKPILES are Low or High......I dont see Diesel past 5 Bucks a gallon, it would cause to many downchain issues and Americans made it clear they will start carpooling, taking mass transit etc when prices are percieved as artificially high. Truckers might even stand up and be counted if it goes too high, Yes its a tax writeoff, but when fuel costs become half of your cost, NOPE....
Everybody likes to blame the guy in the big Whitehouse but I dont believe he has much control, Now Congress could limit Futures trading and Insider Trading,,,but Obama isnt in control of Oil or Fuel Prices, as long as Big Oil can artificially effect the AMOUNT of Oil we have stored, in tankers, in pipelines etc then they will be able to raise and lower the price every day. It took 100 years to get to 1.00 a gal, 8 years to get to 4 dollars a gallon....Back when we had gas wars and you got free car washes and Dinosoaurs etc.....
I read an article about the new Keystone Pileline which is already Installed here and ready to recieve oil, but its also going to Houston based Ports to be sold and shipped to the Highest bidder, If we kept that oil here in the states I believe our oil would go down signifigantly....watch as they do the same thing with LNG....as soon as we switch and start buying those trucks they will start exporting that LNG and the prices will rise to what Gasoline is today....
Everybody likes to blame the guy in the big Whitehouse but I dont believe he has much control, Now Congress could limit Futures trading and Insider Trading,,,but Obama isnt in control of Oil or Fuel Prices, as long as Big Oil can artificially effect the AMOUNT of Oil we have stored, in tankers, in pipelines etc then they will be able to raise and lower the price every day. It took 100 years to get to 1.00 a gal, 8 years to get to 4 dollars a gallon....Back when we had gas wars and you got free car washes and Dinosoaurs etc.....
I read an article about the new Keystone Pileline which is already Installed here and ready to recieve oil, but its also going to Houston based Ports to be sold and shipped to the Highest bidder, If we kept that oil here in the states I believe our oil would go down signifigantly....watch as they do the same thing with LNG....as soon as we switch and start buying those trucks they will start exporting that LNG and the prices will rise to what Gasoline is today....
nice....agreed..Obama has little control over oil prices in the big picture...he can do or say little things that might put a blimp on the price but nothing sustainable...