GAS PRICES

I wouldn't "head for the hills". We were the last to get a reliable gasoline supply after Katrina.

Y'all get ready to pay out the ass whenever employment picks back up. Gas should be under $2 a gallon now with demand low due to millions of cars and trucks off the road now. But no, Big Oil justs cuts supply to keep the market tight. It will be four dollars a gallon just as soon as Big Oil and the speculators feel Americans can afford to pay it.

 

Down six cents in the last week....

Get ready will jump ten to twenty in two weeks.

 

Hopefully you're better at predicting gas prices than you are at predicting stock prices. Somehow I doubt it, though.

 

I heard last night that 60% of the gulf oil production has been shut down due to Ida.

 

Right. Everyone knows that crooks are just that crooks.

LONDON (Reuters) - Oil prices rose on Tuesday to above $80 a barrel after a late-season hurricane disrupted oil and gas output in the Gulf of Mexico and the dollar stayed close to a 15-month low.
U.S. crude for December delivery was up 92 cents to $80.35 a barrel by 1525 GMT, after trading most of the session below yesterday's close of $79.43.
London Brent crude was up $1.01 at $78.78.
Hurricane Ida, the first real weather threat to oil production of the 2009 season, was downgraded to a tropical depression on Tuesday, but output remained curtailed as producers awaited its passage out of the Gulf.
Ida shut in 29.6 percent of oil production and 27.5 percent of gas output from the Gulf of Mexico, the U.S. Minerals Management Service said Monday.

 

It never did make this jump, like you had predicted. Prices have been pretty steady +/- 5 cents or so.

You should probably just keep your predictions to yourself from now on.

 

Crude finished about $69 a barrel today. Gas prices down to $2.45 a gallon in the foothills of NC.

 

You are correct. Gas companies have cut back in production to keep prices high. People are showing that the economy is still very sugish. No jobs ... no money, no money... no wasted travel. Numbers have gottten stable for now. Which is somewhat of a puzzle. Opec deciding to stay with present numbers only show that them are afraid if they cut production. It's overall effect will rock the recovery boat far to much. We might see under two dollars a gallon. But, the oil companies are really pressed to keep those big profits coming. So, production should stay at present or less. Now, this is of course not taking into account a major conflict in the world such as Iran or elsewhere. Or a few major winter storms.

 

I'm just saying

Iraqis say Iran has seized oil well in Iraq, demand withdrawal

December 18, 2009 1:57 p.m. EST


The oil well is in Maysan province, east of Amara, near the Iranian border, officials say.

Major Winter Storm!!!

 

Rumor has it that Iraq has WMD's again. Is it time for another surge?