fuel price peak?
- Thread starter idtrans
- Start date
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cableguymn
Seasoned Expediter
he is on record saying he will spend 1 billion (not including free press)
However, oil prices are not something he can directly control with money. He can have an affect (as we are seeing now) with policy. But throwing tax dollars at it simply inflate the problem. Releasing oil form the strategic reserve will be but a blip on the radar as well.
Best he can hope for if he does not sign off on some drilling and pipelines is that Soros shorts oil near that first Tuesday in Nov.
It won't hit $7.00. The reason is that by the time it did that, it would crash the world economy-- not just us. Not even the Chinese economy could withstand such a price rise.
People who don't have jobs don't drive as much and they don't burn much fuel. Companies that have had to close don't burn fuel or use lubricants. Airlines are already on the ropes, increased fuel prices to that point would force severe cutbacks and also passengers who have no jobs don't do as much flying anyway.
People who don't have jobs don't drive as much and they don't burn much fuel. Companies that have had to close don't burn fuel or use lubricants. Airlines are already on the ropes, increased fuel prices to that point would force severe cutbacks and also passengers who have no jobs don't do as much flying anyway.
golfournut
Veteran Expediter
I remember when gas was .19 a gallon. Ah it will never get to .60.
Never say never when it comes to fuel prices. If not this year, then next. Was it 2 years ago it was under $3? Skys the limit!
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Never say never when it comes to fuel prices. If not this year, then next. Was it 2 years ago it was under $3? Skys the limit!
Sent from my PC36100 using EO Forums
We went through this a couple of years ago when the price climbed early in the year. The "experts" were calling for huge prices by Memorial Day. Instead, it dropped back down before the holiday. So, who knows?
golfournut
Veteran Expediter
Just a crap shoot isn't it. Sure would be nice to go down tho.
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Just pay the price and move on.....gee whiz....its a tax deduction and we all should need them....
It's all because of idtrans,
price spike started right after he start serving the ND oil fields.
hey idtrans, why don't you 'be a patriot' and run for 45 cent a mil.
...
Idtrans must have scared the Arabs off...oil is retreating.....LOL
That will ding the speculators price downward...
The home heating oil season as a reason for high diesel prices is mostly a myth. And in the case of this season, it's all myth. Eight-two percent of the US home heating oil market is in New England, where they have seen a twenty-five percent reduction in demand this year alone, partly due to this being the second-warmest winter wince 1950 (and fourth warmest on record), and partly due to both conservation efforts and people switching from heating oil to natural gas.
“While unseasonably warm weather has continued (January 2012 was about 19 percent warmer-than-normal in the Northeast), winter heating oil expenditures for the average household are nevertheless likely to remain the highest on record due to continued seasonal record high heating oil prices,” the US Energy Information Administration (EIA) weekly report says.
“The primary driver for this winter’s high heating oil expenditures has been heating oil prices, not consumption,” the EIA report says.
Did you know that only six percent of US homes rely on heating oil? Why are heating oil, and therefore diesel prices so high? Because demand is lower. As stupid as that sounds. It means that the normal, expected cause and effect of supply and demand are simply no longer a factor. It's purely price manipulation based on stockpile manipulation.
Domestic reserves of heating oil have declined for the last 9 weeks, to the point where we now have a deficit of right at 10 million barrels, despite a 25% drop in demand. That kind of deficit, combined with the "fears" over problems in the Middle East (and aren't there always?) and the possibility of closing three refineries in Philadelphia, is the reason for the higher prices despite lower demand. They keep saying that both domestic and world demand for diesel, especially in China and South America, keeps rising, but diesel production, shipments, and consumption say just the opposite. Home heating demand is down 25% from last year, diesel demand is down 20%, which combined should translate to diesel being about three bucks at the pumps, yet it's $4 give or take. And it's because of the lower stockpiles, the decrease in production in order to keep the prices high. Bend over.
“While unseasonably warm weather has continued (January 2012 was about 19 percent warmer-than-normal in the Northeast), winter heating oil expenditures for the average household are nevertheless likely to remain the highest on record due to continued seasonal record high heating oil prices,” the US Energy Information Administration (EIA) weekly report says.
“The primary driver for this winter’s high heating oil expenditures has been heating oil prices, not consumption,” the EIA report says.
Did you know that only six percent of US homes rely on heating oil? Why are heating oil, and therefore diesel prices so high? Because demand is lower. As stupid as that sounds. It means that the normal, expected cause and effect of supply and demand are simply no longer a factor. It's purely price manipulation based on stockpile manipulation.
Domestic reserves of heating oil have declined for the last 9 weeks, to the point where we now have a deficit of right at 10 million barrels, despite a 25% drop in demand. That kind of deficit, combined with the "fears" over problems in the Middle East (and aren't there always?) and the possibility of closing three refineries in Philadelphia, is the reason for the higher prices despite lower demand. They keep saying that both domestic and world demand for diesel, especially in China and South America, keeps rising, but diesel production, shipments, and consumption say just the opposite. Home heating demand is down 25% from last year, diesel demand is down 20%, which combined should translate to diesel being about three bucks at the pumps, yet it's $4 give or take. And it's because of the lower stockpiles, the decrease in production in order to keep the prices high. Bend over.
that is what I've been saying for years....supply and demand have little to do with the pricing...when the same person has their finger on the production button.and "controls" the supply....prices are manipulated....I thought that was illegal?
Um..I think it is only illegal if every expedite company colluded to manipulate their rates.
greg334
Veteran Expediter
There is a book that was published in the 50's and updated some time in the late 80's about the pyscology of trading. It puts some of the world oil market in perspective.
Newtothis
Seasoned Expediter
I think it will teeter around $5 for awhile during the summer then Mr. President will play hero during his election campaigning and swoop in to save the day somehow claiming responsibility for a lower price at the pump. I've seen this set up during past election years.
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