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Crude oil, where are we going?
05-06-2008, 05:28 PM
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#1
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gone traveling
Join Date: Nov 2005
Posts: 2,146
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Crude oil, where are we going?
Oil nears $123 on $200 oil prediction, supply concerns: Financial News - Yahoo! Finance
Woof Woof big dog looks like 150+ a barrel. 7 to 10 dollar gasoline in a few years. Geesh gonna need to keep working a bit.
Oh well so what, its a nice distraction and I get to be away from the wife a few hours a day. But the guys who drive the trucks to get all our things to market will be well Screwed.
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05-06-2008, 05:40 PM
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#2
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2003
Location: Hooverville
Posts: 22,983
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Quote:
Originally Posted by newguy888
But the guys who drive the trucks to get all our things to market will be well Screwed.
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Hey, congrats to them. Don't we all yearn to be well screwed?
Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
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05-06-2008, 05:40 PM
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#3
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Full time employment: Posting here.
Join Date: Aug 2006
Location: Columbus
Posts: 769
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Quote:
Originally Posted by newguy888
But the guys who drive the trucks to get all our things to market will be well Screwed.
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Think again, who's going to be paying the freight bill?
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05-06-2008, 05:41 PM
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#4
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gone traveling
Join Date: Nov 2005
Posts: 2,146
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Quote:
Originally Posted by haha
Hey, congrats to them. Don't we all yearn to be well screwed?
Ha
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Oh boy
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05-06-2008, 05:46 PM
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#5
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Thinks s/he gets paid by the post
Join Date: Dec 2007
Posts: 4,764
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Ill start complaining when its bothering me. Right now its nothing. Ya I must be rich. I dont care. Eventually enough will care then it will matter. Right now this is nothing I dont think it really matters to you Newguy financially. I think you are just looking for something to cry about
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05-06-2008, 07:02 PM
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#6
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gone traveling
Join Date: Nov 2005
Posts: 2,146
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I will agree with you here.
But I still scratch my head and wonder how the economy can move forward with such high energy prices that keep rising.
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05-06-2008, 07:19 PM
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#7
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Thinks s/he gets paid by the post
Join Date: Dec 2007
Posts: 4,764
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Quote:
Originally Posted by newguy888
I will agree with you here.
But I still scratch my head and wonder how the economy can move forward with such high energy prices that keep rising.
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It will happen eventually. 140 150 160 more? I dont know. Eventually it will matter. Right now eh. The good Amerikan folks can absorb it A ok.
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05-07-2008, 03:08 AM
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#8
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2005
Posts: 6,115
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all i know is we all condemn big oil for their profits but then i thought who owns big oil....YIKES! WE DO.
at last look as an example almost 4,000 mutual funds owned exxon mobile. fidelity owns 90 billion in just that one issue. guess we are getting those profits after all.
WE HAVE MET THE ENEMY AND HE IS US
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05-07-2008, 04:14 AM
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#9
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2008
Location: NC
Posts: 21,201
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Can we blame big oil? How about increasing world demand including no significant evidence of conservation in the US? How about the declining dollar? From what I've seen, we pay a lot more in Federal, State and other taxes/fees per gallon than oil company profits by far. Lots of big companies in other industries make far higher % profits than big oil - Microsoft, Bank of America and many others. In the 80's oil company profits were too low to justify building more refineries, so much so that we've barely had enough refinery capacity. Seems there's lots of blame to go around.
__________________
No one agrees with other people's opinions; they merely agree with their own opinions -- expressed by somebody else. Sydney Tremayne
Retired Jun 2011 at age 57
Target AA: 50% equity funds / 45% bonds / 5% cash
Target WR: Approx 1.5% Approx 20% SI (secure income, SS only)
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05-07-2008, 07:37 AM
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#10
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2005
Location: Chicago
Posts: 13,151
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Quote:
Originally Posted by newguy888
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Well, oil prices are moving along as predicted...........
newguy, you should read more, pay attention to what is happening around you..... All natural resources are becoming scarce in relationship to the ever growing number of souls that must be supported. Energy, food, metals, lumber...... all will be going through the roof. And, oh yeah, don't forget about water......
We're probably too old to live long enough to see it, but just a few more decades, another doubling of the population, and the poop will really hit the fan.
If you're mystified by the rising price of oil, just wait!
__________________
"I wasn't born blue blood. I was born blue-collar." John Wort Hannam
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05-07-2008, 08:07 AM
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#11
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Thinks s/he gets paid by the post
Join Date: Jan 2008
Posts: 2,020
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I can't wait until the bird flu comes and wipes us all out! That'll fix that oil problem real good.
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05-07-2008, 08:15 AM
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#12
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Thinks s/he gets paid by the post
Join Date: Feb 2006
Posts: 3,895
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Quote:
Not everyone shares Goldman's view. Tim Evans, an analyst at Citigroup Inc., countered Goldman's analysis with a note predicting that crude prices could as easily fall to $40 a barrel as rise to $200 over the next two years because supplies are, as Evans put it, comfortable.
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& up through the ground came a bubbling crude.
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"off with their heads"~~dr. joseph-ignace guillotin
"life should begin with age and its privileges and accumulations, and end with youth and its capacity to splendidly enjoy such advantages."~~mark twain - letter to edward kimmitt 1901
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05-07-2008, 09:35 AM
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#13
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2005
Location: Lawn chair in Texas
Posts: 14,183
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__________________
Have Funds, Will Retire
...not doing anything of true substance...
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05-07-2008, 10:39 AM
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#14
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Recycles dryer sheets
Join Date: May 2008
Posts: 271
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Quote:
Originally Posted by Midpack
Can we blame big oil? How about increasing world demand including no significant evidence of conservation in the US? How about the declining dollar? From what I've seen, we pay a lot more in Federal, State and other taxes/fees per gallon than oil company profits by far. Lots of big companies in other industries make far higher % profits than big oil - Microsoft, Bank of America and many others. In the 80's oil company profits were too low to justify building more refineries, so much so that we've barely had enough refinery capacity. Seems there's lots of blame to go around.
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Ahh, finally someone understands! I work in big oil and have been explaining this to friends for the last 3 years.
You want someone else to blame, imo, put more onto the door of the government. They banned MTBE at the same time they lowered gasoline sulfur specs to 30ppm, all before the refineries were ready. And to top it off, they never removed the 2% oxygenate requirements! The result: We are now starved for octane in addition to a pool of gasoline that can't meet sulfur requirements without a huge investment in refining.
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05-07-2008, 10:42 AM
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#15
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2005
Posts: 17,203
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Quote:
Originally Posted by Midpack
Can we blame big oil? How about increasing world demand including no significant evidence of conservation in the US? How about the declining dollar? From what I've seen, we pay a lot more in Federal, State and other taxes/fees per gallon than oil company profits by far. Lots of big companies in other industries make far higher % profits than big oil - Microsoft, Bank of America and many others. In the 80's oil company profits were too low to justify building more refineries, so much so that we've barely had enough refinery capacity. Seems there's lots of blame to go around.
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I was thinking the same about the declining dollar....
On a 'wild a$$ guess'... the dollar has gone down by about 50%.... SO, in reality we have only $60 oil and $60 of 'the chickens have come home to roost with all the deficiet spending we do'....
If we go our house in order... oil would come down as the dollar got stronger... nope... $200 oil is better...
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