$105 oil

[ebacherville]

Originally Posted by jamesqf

I don't think you can call a drop of a few dollars "plummeting" :-)

today at noonish $131 a barrel.. I call $16 or about 10% in a couple days a plummet.. well in my book I do.

Wonder how low it will go and how long it will take to hit the gas stations , if it goes below $3.25 a gallon the comicozy SUVs will return...


Golds up! for any comodity invested folks.

[ebacherville]

well now its $129 a barrel, lets see how long it takes to hit the pumps..

[NeilBlanchard]

...you'll be waiting a long time.

[Chris D.]

Originally Posted by ebacherville

well now its $129 a barrel, lets see how long it takes to hit the pumps..

I will hold my breath now, see ya in the after life

[Peakster]

LOL! "It's only $129 a barrel"

my, how our twisted minds think that's cheap

I've been thinking of trading in my dollars for some nice gold coins or something. Better than a silly savings account with laughable interest. I just need to figure out how to buy some!

[ebacherville]

Originally Posted by Peakster

LOL! "It's only $129 a barrel"

my, how our twisted minds think that's cheap

I've been thinking of trading in my dollars for some nice gold coins or something. Better than a silly savings account with laughable interest. I just need to figure out how to buy some!

Yeah interest doesn't even come close to keeping up with inflation.

Oils dropping again this morning $126.82 currently.

[njlou]

IF you want to buy gold - stay away from jewelry! It has too much profit already built in.
For investment, you want either (South African) Krugerands or (Canadian) Maple Leafs. They are 1ounce gold (coins). Krugerands can be bought in smaller sizes but dont bother.
FYI for some reason, probably politically (Canadian) Maple Leafs are better accepted and are more liquid. They also have a $50 "floor" value as currrency.They actually have "$50" on it. You can get them on line or from coin dealers. Be careful and watch your bid/ask.
Keep a keen eye on the market since it is a volatile commodity and is VERY emotional. It hit $1000 months ago and some thought it would keep climbing. NOT it went to the
$890's and is now~$923.

Re: gas prices, the prices today cannot last too long. They will go down big time. America has "more" money than most countries, and we cant deal with it. Other countries will fold before us. This is a huge economic disaster that cannot sustain worldwide.
It has been said that after the Olympics in China we will see some real changes. The Chinese are subsidizing their economy to make it look good for the tourists. They cannot keep up the loss.

[Chris D.]

Originally Posted by ebacherville

Yeah interest doesn't even come close to keeping up with inflation.

Oils dropping again this morning $126.82 currently.

Gas prices are finally starting to reflect in the lower barrel costs..

But I call BS, it'll be back where it was after the elections..

[igo]

I really didn't expect such a drop in oil. I just don't know what will happen. Oil could go up or down $10 just about any given day.

[Peakster]

I'm pretty certain that oil's general long-term price direction is upwards though.

[Arminius]

Economies are slowing in the Americas, Europe and Asian. It won't last forever. The rebound will be painful, unless energy is concerved.

[Chris D.]

I think we need to stop buying from overseas and get some refineries up and rollin till we have alternative transportation..

[dremd]

Originally Posted by Chris D.

I think we need to stop buying from overseas and get some refineries up and rollin till we have alternative transportation..

i disagree.
i have a friend who works at a refinary, times are tough for them, their profit is down, and they are operating well below rated output.. building more refinaries would just make it worse for them

besides, spending money in hopes of lowering fuel prices is only subsadizing people who wast fuel.

p.s. great to have you back

[Chris D.]

Originally Posted by dremd

i disagree.
i have a friend who works at a refinary, times are tough for them, their profit is down, and they are operating well below rated output.. building more refinaries would just make it worse for them

besides, spending money in hopes of lowering fuel prices is only subsadizing people who wast fuel.

p.s. great to have you back

Thanks for the welcome back

What does your friend do there at the refinery?
I have family working in Billings MT at a refinery and they've slowed down considerably there... For whatever reason, thats unclear to me, but it mite be different for them vs. your "friend"

I think whats happening here is that the US is stockbuying on oil and waiting for them to dry up so the old switcharoo and sell it back to them at a high price? just a thought, no clue tho.

[brucey]

Gas is 3.89 here right now.
Thats the lowest I've seen it since before the May Elections.

[dremd]

Originally Posted by Chris D.

Thanks for the welcome back

What does your friend do there at the refinery?
I have family working in Billings MT at a refinery and they've slowed down considerably there... For whatever reason, thats unclear to me, but it mite be different for them vs. your "friend"

He is a GE employee at a Valero Refinery. He sells/ blends anti-corrosion additives. His primary $ comes from Chevron "with Techron" but he sells some to all of the gasoline which is refined there. Last I heard (Like a week) they were down under 75% and he wasn't getting any bonuses due to the low output.


[quote=Chris D.;47492
I think whats happening here is that the US is stockbuying on oil and waiting for them to dry up so the old switcharoo and sell it back to them at a high price? just a thought, no clue tho.[/QUOTE]

Well; then they lost their ass last week. :-)


Sorry for the slow reply; I've been without internet for a while.

[ebacherville]

Face it people are hurting now and driving as little as possable, with food going up and the forclosures etc.. times are tough and people are cutting back. demand is down so refineries are slowing.

Not to wish bad mojo on your friends, but id rather have this situation than a situation where there isn't enough gas to make the world work, and prices over inflated because of to much demand and not enough supply.

[jamesqf]

Originally Posted by ebacherville

Face it people are hurting now and driving as little as possable...

Seems to me that (in most cases), the hurt is a self-inflicted wound. Nobody forced people to buy e.g. that honking big F350 diesel pickup (real life example there: my neighbors' kid). Indeed, a lot of people have been warning about the negative consequences for years. So they don't listen? Sorry, but I'll save my pity for someone that deserves it.

[dremd]

Well my local news ran a story this morning about how that the dropping fuel prices were allowing more people to return to their normal driving habits. Errr

Oh well; just makes it a better time to go out and look for used cooking oil :-)

[igo]

So I guess gas is going back to $1.50/gallon now. Well maybe $3.75