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Old 09-26-2009, 02:28 AM   #1 (permalink)
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Question Will Tensions in Iran Send Oil Prices Through the Roof?

By the time you read this you may already know the answer.

I realize that most people don't watch/read the news daily as I do. So for those that have not heard, yesterday our President meet with several other leaders at the United Nations about what was a top secret discovery of a deep underground maze of miles in Iran at a military site in which it has been claimed the world has positive proof that this oil producing country is extremely close to making several NUKES!

As the rules say here, I will tie this in. Will these increased tensions lead to speculators bidding up the price of Oil? Will possible sanctions on Iran raise the price of Oil? Are we facing $4.00 gas again in a few weeks?

I do not have a full time job at this time and every red cent more I have to pay for gas hurts me. That's why I'm on these forums. I greatly fear Oil will go straight through the roof very soon, resulting in the average gasoline and Diesel price going up up and up. I pray I am wrong. High fuel prices would not be good for this country's economy right now.

I hope I'm wrong and non of this stuff impacts the markets- However in seeing most financial markets are closed on weekends, is it any wonder this news came out on a Friday? I don't think the market has had time to react, and when it does it might impact people from all walks of lives and incomes.


Last edited by Jammer; 09-26-2009 at 12:24 PM.. Reason: Added one word to an incomplete sentence.
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Old 09-26-2009, 02:35 AM   #2 (permalink)
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Old 09-26-2009, 05:19 AM   #3 (permalink)
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Quote:
Originally Posted by Frank Lee View Post
I'm praying for $10 gas but that's mostly just me.
I'm with Frank, and I'm willing to bet something almost valuable that the price of oil will go up: speculators, and especially oil companies, will use any pretext they can just make more $$$. Even if they have to pull the prices back down on the next day, they still made more money for free during that one day.

The less you drive when you don't have to, and the more you ecomod and ecodrive when you must, the more you save over the average population, and the better example you are for others.

[/Just my two cents.]
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Old 09-26-2009, 10:09 AM   #4 (permalink)
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I'm going to go with "no". Inventories are high, demand is easily met by current supply, so prices are not going to go through the roof on speculation alone. Now if some nukes get launched and a major, oil-powered war starts, that could create enough demand for us to see sustained high gas prices.

I'm with Frank and Piwoslaw. You need to insulate yourself from gasoline prices and be less dependent on the stuff.
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Old 09-26-2009, 12:39 PM   #5 (permalink)
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Question

Hmm, I must say I see all of your points of view. I now don't know what to expect. I can see where the oil companies might use any excuse they can to raise prices, but on the other hand is it not truly the supply and demand that determines the price of oil? I also can see where $10 a gallon gasoline (U.S.D.) would give the R&D of alternative fuels a big kick in the paints too, and that would be a very good thing!

After some pondering I have to base my opinion on my past observations. I think about what happen on 9-11. The gas stations all had paid the same cheap rate for the fuel in their tanks yet many gas stations started raising their prices as high as $4.90 right here in Kentucky. It did not matter how much supply we had, what mattered was we had a group of business people taking advantage of a situation full of panic. It got so bad our governor had to step in and threaten to bust the gas station owners for price gouging and then the prices went right back to where they wear on Sept/10/2001. Of course I do believe there was an uptick in oil prices just after 9-11.

I look for fuel prices to go up for the near foreseeable future. How much they go up I can not guess. I just can not vision the world talking about a terrorist / oil producing country on the verge of building a bunch of Nukes not impacting the price we pay at the pump. All the reason they need is a lot of panic.



Quote:
Originally Posted by RobertSmalls View Post
I'm going to go with "no". Inventories are high, demand is easily met by current supply, so prices are not going to go through the roof on speculation alone. Now if some nukes get launched and a major, oil-powered war starts, that could create enough demand for us to see sustained high gas prices.

I'm with Frank and Piwoslaw. You need to insulate yourself from gasoline prices and be less dependent on the stuff.
If "some nukes get launched" I will no longer be as concerned over oil prices!

Such political concerns are a big part of the reason I surf this forum for ideas on how to raise my gas mileage. I'm only up to about 45 MPG right now, but thanks to this site my fuel economy continues to get better.
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Old 09-26-2009, 03:33 PM   #6 (permalink)
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Syriana

You might want to rent this movie and revue the elements of the screenplay.Matt Damon's character,as a consultant to a Middle-Eastern oil producer gives a clear picture of "premiums" that can be anticipated by uncertainties in the marketplace.---------- Higher prices may hurt you and I although they're the best thing that can happen for many in a different food chain.-------- Adapted from a book written from a 25-year CIA operative,it makes for rich thought and contemplation.-------- Iran's intelligence network never overthrew the United States government and installed a puppet regime friendly to Persia.The same cannot be said of the U.S.' Persia does not operate in a vacuum.
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Old 09-27-2009, 02:23 PM   #7 (permalink)
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Originally Posted by aerohead View Post
Iran's intelligence network never overthrew the United States government and installed a puppet regime friendly to Persia.The same cannot be said of the U.S.' Persia does not operate in a vacuum.
Unfortunately, Persia hasn't existed for close to 1400 years, since it was destroyed in the first wave of Islamic imperialism: Muslim conquest of Persia - Wikipedia, the free encyclopedia Iran is no more Persia than Turkey is the Eastern Roman Empire.
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Old 09-27-2009, 06:35 PM   #8 (permalink)
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Hmm, gas around me keeps getting cheaper. $2.08 for the cheapest 12% ethanol swill, and $2.19 for straight gas.

Hopefully they resolve this Iranian thing with jaw, jaw instead of war, war.
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Old 09-27-2009, 09:09 PM   #9 (permalink)
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Quote:
Originally Posted by 99LeCouch View Post
Hmm, gas around me keeps getting cheaper. $2.08 for the cheapest 12% ethanol swill, and $2.19 for straight gas.

Hopefully they resolve this Iranian thing with jaw, jaw instead of war, war.
Good point. In town here, with a Krogger CC# it can be had for about $2.35, and it sells for $2.39 at a truck stop 30 miles away and that's as cheap as it gets near me. $2.45 to $2.49 is typical here for 87 octane.

Of course the oil price would be a lagging indicator of actual gas/diesel prices if nobody starts price gouging on the gas station end right away. So I will be watching the price of Oil on Monday.
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Old 09-27-2009, 11:31 PM   #10 (permalink)
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My weekly fuel consumption is less than 8 gallons average. I could get it below 7 but I don't want to pile the miles on my Insight when gas is cheap. For now I'll trade 53 MPG in a $3300 car for 65 MPG in a $9000 car.

If it went from the current $2.15 a gallon to $5, my weekly cost would not really affect my driving. The wife and I used my cars instead of here Nissan Rogue and our family average is still close to 50 MPG.

Although I know it would be very hard for some, as well as the general economy, I think we should be paying more for gas to make the incentive for all to be more conservative in their fuel consumption.

When it hit $4 a gallon here last year there was a real transformation in the types of cars you saw on the highway and the way people drove. Now it's back to the same old aggressive insanity.

regards
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