PETROLPHOBIA (Page 40/66)
maryjane JAN 25, 01:40 AM

quote
Originally posted by dennis_6:

15 dollar a bbl oil?
http://money.cnn.com/2015/0...-15-kotok/index.html

After a decade of price gouging, oil may finally get back in line. This is how unregulated capitalism works. It will eventually fix the problem, but it can go decades even centuries and many people get hurt in the mean time. Something like the lamp oil gouging of old.



lots of buzz words thrown out there, allegations and inferences, but little if any proof of any kind--as has always been the case with any commodity that is traded on a global market. Crude oil and it's primary products (including gasoline and diesel) are all traded on CME and other global exchanges.
$1.49 last night here. That must be because "Big Oil" (whoever that is) must want it that low, since they have the power to set it at any price they want at a whim.

[This message has been edited by maryjane (edited 01-25-2016).]

USFiero JAN 29, 10:12 PM
Yup, about a buck fifty here too. Right about the price it was eleven years ago when I started this thread. Much has changed.

[This message has been edited by USFiero (edited 01-29-2016).]

Formula88 JAN 30, 12:23 AM
Got 93 for about $2.25. That's the cheapest I can recall it since gas first crossed the $2 mark.
maryjane FEB 25, 07:12 PM
Calif gas prices set to increase as much as $0.30/gal within a week.
http://www.ocregister.com/a...41-gas-stations.html


quote
Say goodbye to $2 gas.

Over the next week, gas prices are expected to rise between 20 cents and 35 cents a gallon, GasBuddy analysts predict.

“We knew this was going to come, but didn’t expect the prices to rise that dramatically,” said Allison Mac, a Gas Buddy petroleum analyst. “Prices have been low because stations are trying to get rid of winter blend gasoline. So they’ve been dropping very dramatically, more than they should be, like a blow-out sale. Now that we’re putting in summer blend gas at the stations, the prices are going to start increasing.”

After a quick rise in prices, Mac expects them to plateau.

All gas stations must switch to the summer blend by April 1. The mix reacts better in higher temperatures but costs roughly 10 cents a gallon more to make.

As refineries switch to the gas, maintenance issues often arise which can cause partial or complete refinery shutdowns. An explosion during a switch at the ExxonMobil refinery in Torrance last February put the plant offline. Mac added that the refinery will reopen soon, which should nudge gas prices down.

Advocacy group Consumer Watchdog warned Thursday that the slide in gas prices could end abruptly as early as Friday.

“Drivers in Southern California should fill up now, because gasoline prices are going up quickly and not coming back down for a while,” said Jamie Court, the group’s president, in a statement.


more at link.
2.5 FEB 25, 08:49 PM
Ours is up 35 cents from 2 weeks ago, but still only 1.79.
USFiero JAN 09, 08:49 AM
So we had a couple pipeline disasters, an impotent OPEC meeting and what I would suppose are some seasonal changes to push prices up 5%. Unless someone thinks the election outcome had any effect positively or negatively?
2.5 JAN 09, 05:00 PM
Used to be just rumors of a problem would send it up 25 % at the pump...
maryjane JAN 09, 08:52 PM
I wouldn't get too worked up. Oil is down near 4% today.

quote
Oil prices tumbled nearly 4 percent on Monday on concern that record Iraqi crude exports and rising U.S. output would undermine OPEC's efforts to curb global oversupply.

U.S. crude futures settled at $51.96 per barrel, down $2.03, or 3.8 percent. That was the weakest daily closing level since Dec. 16.
Brent crude futures were down $2.22, or 3.9 percent, at $54.88 a barrel at 2:35 p.m. ET (1912 GMT), near the lows of the day.

In Iraq, OPEC's second-biggest producer, oil exports from the southern Basra ports reached a record high of 3.51 million barrels per day (bpd) in December, the oil ministry said.

Iraq's oil ministry underscored that the high levels from the south would not affect the country's decision to lower production in January to comply with the OPEC agreement. But some remained concerned over the feasibility of the cuts — which would have to come from the north.
Stubby79 JAN 09, 09:33 PM

quote
Originally posted by 2.5:

Used to be just rumors of a problem would send it up 25 % at the pump...



The rumor of a rumor is enough for them to jack prices up 25% here.
USFiero FEB 28, 01:32 PM

quote
Originally posted by dratts:
Might be time to buy US Steel stock. Don't buy the stock on my advice. I'm not.



Funny how Trump advocates for US Steel instead of Chinese steel for the Keystone pipeline and in the last year their stock value has gone from around ten bucks a share to $39.