Oil price

[OntarioVanMan]

Barrel just now hit $111.00 a barrel....here comes the $5.00 gallon

Why because Libya controls a stinkin lousey 2% of the market...we could just open the taps a little and easily make up for that...pretty weak excuse...

 

[ChrisGa23]

Barrel just now hit $111.00 a barrel....here comes the $5.00 gallon

Why because Libya controls a stinkin lousey 2% of the market...we could just open the taps a little and easily make up for that...pretty weak excuse...

can anyone say.....2011 recession. Last time gas prices got so high the economy flunked and led us into a big mess that we are slowly getting our self out of.

 

[OntarioVanMan]

can anyone say.....2011 recession. Last time gas prices got so high the economy flunked and led us into a big mess that we are slowly getting our self out of.

Thing is it is all of speculation that the rebellion MIGHT spill into Saudi Arabia....

 

[ChrisGa23]

buncha bs dont ya think ? Raise prices on a maybe. Just another excuse to make them rich.

 

[OntarioVanMan]

Speculation should be controlled somehow...i don't like interfering in the free market but spec'ing like this just hurts our growth, markets and recovery.....and an elite few make millions/billions at doing it...

When there are spikes like this the government should just release some reserves or bluff that they will and bring them back down...

 

[greg334]

If you want to control speculation, then we need to also have price controls on other things like expediter rates. Vans at 77 cents a mile with a 10 cent FSC, straight trucks at a $1.25 with a 20 cent FSC.

 

[OntarioVanMan]

If you want to control speculation, then we need to also have price controls on other things like expediter rates. Vans at 77 cents a mile with a 10 cent FSC, straight trucks at a $1.25 with a 20 cent FSC.

smartbutt....don't you have a load to run....

 

[OntarioVanMan]

Oil's been on fire in the last three days, gaining more than $14 a barrel and nearly $30 in the last three months. That equates to a quick extra 75 cents a gallon at the pumps, folks, if you're counting -- and I know that you are.

There has not been one significant supply shutdown nor has there been any overwhelming increase of demand for finished gasoline or heating oil in that time to explain these monster moves.

Instead, there have only been threats of supply disruptions from weather and Middle East unrest -- and bets being placed on those possibilities, fueled to insane levels of frenzy by commodity-trading advisers, index fund managers, dedicated hedge funds and oil swaps dealers.

The reality is that not one barrel of real oil has been removed from the global supply picture in the last several weeks until today, when it was reported that perhaps a half million barrels of daily supply were lost temporarily from Libya, a shortfall that Saudi Arabia could easily and will easily cover, if it becomes necessary.

 

[greg334]

Yep ... I sure do ... thanks to the up and coming weather, the truck is loaded for three stops and I will have them done before dawn with my pay sitting for me when I return. Don't you love the free market and speculating on freight?

 

[chefdennis]

With apologies to Doris Day...

"Kay Sa Ra Sa Ra , whatever will be will be, the futures not ours to see, Kay Sa Ra Sa Ra....."

The fact is oil is going to go to whatever it will go to, the price of gas and diesel will go to whatever it will go to...if you want to haul freight, you will pay the price..if you don't, then you won't....Now i ma going to take a nap and wait for my next load out of here...

Oh and I just paid $95.00 for 28 gallons of gas....

 

[OntarioVanMan]

Yep ... I sure do ... thanks to the up and coming weather, the truck is loaded for three stops and I will have them done before dawn with my pay sitting for me when I return. Don't you love the free market and speculating on freight?

Have a safe trip...

 

[tbcabs]

It would be nice if we could get rid of all the oil speculators. Its pretty sad that we are paying the price for gas/diesel that was bought 8 months ago..

 

[Jefferson3000]

Unfortunately oil is tied to the price of gold. The price of gold has risen because of a weak dollar. The weakness of the dollar is tied to 6 "stimulus" sprees since 2001.

 

[greg334]

It would be nice if we could get rid of all the oil speculators. Its pretty sad that we are paying the price for gas/diesel that was bought 8 months ago..

It would be nice to get rid of all the vans too ... they compete with the small straight trucks.

Unfortunately oil is tied to the price of gold. The price of gold has risen because of a weak dollar. The weakness of the dollar is tied to 6 "stimulus" sprees since 2001.

Actually it is tied to the dollar, it is traded in dollars, not ounces of gold.

 

[ChrisGa23]

It would be nice to get rid of all the vans too ... they compete with the small straight trucks.




Actually it is tied to the dollar, it is traded in dollars, not ounces of gold.

ban the straight

 

[Jefferson3000]

It would be nice to get rid of all the vans too ... they compete with the small straight trucks.




Actually it is tied to the dollar, it is traded in dollars, not ounces of gold.

Greg,

Yes I understand it is traded with dollars, but here is what I am referring to:

Oil producing countries use the price of gold vs. our dollar to determine the price of oil. The price of oil in relation to gold has always been stable--between 13-17 barrels per ounce--just like yesterday, $92 oil vs $1400 gold. And the price of oil has always been stable versus other soft commodities.

When oil fluctuates in terms of dollars, it is the unstable value of the dollar that causes this, not the value of the oil. Since 2001 when the first of 6 stimulus packages were created by the Federal Reserve under Bush and Obama, the price of an ounce of gold has risen from $275 an ounce to $1400--or 5.091 times what it was 10 years ago. Not because gold is more valuable, but because the banks have made the dollar LESS valuable, which I am sure you understand. This has occurred even though oil is in LESS demand than it was in 2001.

Take $3.35 (current price of gas) and divide it by the 5.091 times increase in gold since 2001, you get $0.66--where the price of gas would have been with falling demand, had we not continually "stimulated" the economy by letting the Federal Reserve print more money.

We can't even blame this one on futures. We let elected officials do this to us.

 

[skyraider]

Yep,,a mess in the making,,,me and my tuna can lead sled is home , lp heat,,bed, stove, and lovely truckstops for showering and shaving, and such...

 

[chefdennis]

Well one thing is for sure..the "stimulus" money that came from QE 1 and 2 are suppose to be all spent by june...sometime in may you can bet that Ben will start talking about QE 3 or QE lite and begin to print more 'money"...lowering the value of the dollar once again..which will in turn raise the # of dollars needed to buy a barrel of oil and then raise the price of gas / diesel fuel....and it has nothing to do with the crisis in the mid-east...

And you know what?? There ain't a D8mn thing any of us can do about...other then pay the price or not...

 

[kwexpress]

I need it to hit about $200 and stay there for at least a year. just think of your FSC

I thinks its back down arond $98 or maybe lower now.the Saudi people say they will open the spicket a little more and the price started dropping.very sad day in the oil industry.I need higher oil prices to be able to explore and repair.Just like you need to make sure your getting higher rates if you want to be able to afford the replacement your equipment.So everyone prey for higher oil prices.

 

[greg334]

But Jeff you seem to forget that taxes make up a large amount of that fuel price and there are hidden taxes involved, so it may be about 66 cents a gallon if everything is removed and it is adjusted to the market price.