Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Who Was it Predicted $70 Oil?
Old 08-29-2005, 07:41 AM   #1
Thinks s/he gets paid by the post
 
Join Date: Jun 2003
Location: Historic Florida
Posts: 1,647
Who Was it Predicted $70 Oil?

Well it got there today. Appears we are all affected by Katrina in some way or another. It never rains it pours, sorry about the pun.

SWR
__________________

__________________
"Arguing with an Engineer is like rolling in the mud with a pig. Just remember that the pig likes it."
ShokWaveRider is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: Who Was it Predicted $70 Oil?
Old 08-29-2005, 07:55 AM   #2
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
brewer12345's Avatar
 
Join Date: Mar 2003
Posts: 16,391
Re: Who Was it Predicted $70 Oil?

DJ-AIG commodities index is up about 4% this morning. Jumpin Jeezus on a pogo stick, its gonna be an expensive winter...
__________________

__________________
"There are three kinds of men. The one that learns by reading. The few who learn by observation. The rest have to pee on the electric fence for themselves."



- Will Rogers
brewer12345 is offline   Reply With Quote
Re: Who Was it Predicted $70 Oil?
Old 08-29-2005, 08:59 AM   #3
Thinks s/he gets paid by the post
Jay_Gatsby's Avatar
 
Join Date: Oct 2004
Posts: 1,719
Re: Who Was it Predicted $70 Oil?

I tanked up last night after I saw the price per barrel prediction of $70+.

Although paying for gas over the past several months has been increasingly more expensive, I think it's for the better in many ways.* Here are some possible advantages:

Hybrid cars are in, SUVs (except hybrid SUVs) are out.

Slowdown in housing prices due to transportation and oil-derived construction materials.

People are driving less and taking vacations closer to home, thereby helping local tourist economies.

Increased development of alternative fuel sources, leading to a lesser dependence on foreign oil.

More fuel/electricity efficient appliances.

Reduced emissions from gas guzzling transportation.

Overall, the short-term pain of high oil prices will ultimately lead to a much cleaner and more efficient future.* The dream of the late-1960s may finally come true.
__________________
He had one of those rare smiles with a quality of eternal reassurance in it . . . It faced, or seemed to face, the whole external world for an instant and then concentrated on you with an irresistible prejudice in your favor. -- The Great Gatsby, F. Scott Fitzgerald
Jay_Gatsby is offline   Reply With Quote
Re: Who Was it Predicted $70 Oil?
Old 08-30-2005, 10:23 AM   #4
 
Posts: n/a
Re: Who Was it Predicted $70 Oil?

Well, I'm certainly having some buyer's remorse over the RV that I plunked a deposit down on a few weeks ago, even if it does get relatively good mileage!
__________________
  Reply With Quote
Re: Who Was it Predicted $70 Oil?
Old 08-30-2005, 10:34 AM   #5
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
brewer12345's Avatar
 
Join Date: Mar 2003
Posts: 16,391
Re: Who Was it Predicted $70 Oil?

tozzer, what kind of RV are you buying? How did you go about selecting it?
__________________
"There are three kinds of men. The one that learns by reading. The few who learn by observation. The rest have to pee on the electric fence for themselves."



- Will Rogers
brewer12345 is offline   Reply With Quote
Re: Who Was it Predicted $70 Oil?
Old 08-30-2005, 10:35 AM   #6
Thinks s/he gets paid by the post
greg's Avatar
 
Join Date: Jun 2005
Posts: 1,071
Re: Who Was it Predicted $70 Oil?

Quote:
Originally Posted by tozz
Well, I'm certainly having some buyer's remorse over the RV that I plunked a deposit down on a few weeks ago, even if it does get relatively good mileage!
Don't worry about it. When the larger US metro areas turn into a transportation wasteland, you can flee to Canada where they have plenty of gas--but it's just not cheap. Good luck. Those dang things are fun too.

PS Try to negotiate a 'full tank' of fuel for free with the seller before pick up. Otherwise, keep the RV gas tank full--maybe.

--Greg
__________________
Compounding: Never forget! Never not remember!
greg is offline   Reply With Quote
Re: Who Was it Predicted $70 Oil?
Old 08-30-2005, 11:13 AM   #7
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
brewer12345's Avatar
 
Join Date: Mar 2003
Posts: 16,391
Re: Who Was it Predicted $70 Oil?

Heh, the Coast Guard said there are 7 oil rigs floating loose around the Gulf. We are screwed. Almost all of the excess oil and natural gas production that comes out of the gulf this time of year is usually the inventory build for this winter. That ain't happening this year.

The commodities index is up another ~2.5% again today. I called my heating oil supplier and they told me today's price is $2.50 a gallon. If I want a fixed orice for 12 months it will be $2.889, and I can get a cap of $3.119 if I agree to a floating price about 25 cents higher than the normal price. I used about 1000 galons of heating oil last year, and I will likely need less this year, so its not the end of the world for me, however, there are a lot of people out there in the US for whom an extra buck a gallon over last year is a major issue. Lower end retailers are likely to be in for a world of hurt this winter, especially if it is a cold one.
__________________
"There are three kinds of men. The one that learns by reading. The few who learn by observation. The rest have to pee on the electric fence for themselves."



- Will Rogers
brewer12345 is offline   Reply With Quote
Re: Who Was it Predicted $70 Oil?
Old 08-30-2005, 12:44 PM   #8
 
Posts: n/a
Re: Who Was it Predicted $70 Oil?

brewmeister:* I referred to the Navion elsewhere on the board, so I don't want to make too much of a thread detour.* However, I wanted something small and mobile, not a large RV park beached whale.* I had a VW camper as a teen, and wanted something along that theme, only more usable for a few weeks at a time.* I had been looking at used Rialtas for years.* However, as elegant as they may look, after renting one for a week I was a little bit disenchanted.* With two people, you pretty much have to choreograph every move i.e. only one person up and about at a time.* And the bathroom (internal slideout wet bath) was essentially unusable.* Plus, even at only 5'9", I was always brushing my head against the ceiling liner.

So Skinny Winny fits the bill.* It'll get up to 20mpg--the best out there today.* It's also a good hedge:**if the folks in the religion thread are right and armageddon is truly nigh, I can pack her up, strap a date on the roof, and head for the hills.*

Quote:
Originally Posted by brewer12345
tozzer, what kind of RV are you buying?* How did you go about selecting it?
__________________
  Reply With Quote
Re: Who Was it Predicted $70 Oil?
Old 08-30-2005, 01:37 PM   #9
Full time employment: Posting here.
 
Join Date: Aug 2004
Posts: 909
Send a message via ICQ to Marshac Send a message via AIM to Marshac Send a message via Yahoo to Marshac
Re: Who Was it Predicted $70 Oil?

Quote:
Originally Posted by brewer12345
Heh, the Coast Guard said there are 7 oil rigs floating loose around the Gulf.* We are screwed.*
Any word on the LOOP?
__________________
Marshac is offline   Reply With Quote
Re: Who Was it Predicted $70 Oil?
Old 08-30-2005, 01:41 PM   #10
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
brewer12345's Avatar
 
Join Date: Mar 2003
Posts: 16,391
Re: Who Was it Predicted $70 Oil?

Not that I have heard, but it seems unlikely that it didn't get damaged.

Diamond offshorre put out a pressrelease saying that a jack-up drilling rig was nowhere to be found and a floating rig had come loose from its moorings and was found 7 miles (!) away.
__________________
"There are three kinds of men. The one that learns by reading. The few who learn by observation. The rest have to pee on the electric fence for themselves."



- Will Rogers
brewer12345 is offline   Reply With Quote
Re: Who Was it Predicted $70 Oil?
Old 08-30-2005, 01:56 PM   #11
Thinks s/he gets paid by the post
Jay_Gatsby's Avatar
 
Join Date: Oct 2004
Posts: 1,719
Re: Who Was it Predicted $70 Oil?

Does this mean that underwater wells are spewing oil into the ocean? Or did the oil companies "cap" or temporarily plug their wells prior to evacuating?
__________________
He had one of those rare smiles with a quality of eternal reassurance in it . . . It faced, or seemed to face, the whole external world for an instant and then concentrated on you with an irresistible prejudice in your favor. -- The Great Gatsby, F. Scott Fitzgerald
Jay_Gatsby is offline   Reply With Quote
Re: Who Was it Predicted $70 Oil?
Old 08-30-2005, 02:31 PM   #12
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
brewer12345's Avatar
 
Join Date: Mar 2003
Posts: 16,391
Re: Who Was it Predicted $70 Oil?

Quote:
Originally Posted by tozz
brewmeister:* I referred to the Navion elsewhere on the board, so I don't want to make too much of a thread detour.* However, I wanted something small and mobile, not a large RV park beached whale.* I had a VW camper as a teen, and wanted something along that theme, only more usable for a few weeks at a time.* I had been looking at used Rialtas for years.* However, as elegant as they may look, after renting one for a week I was a little bit disenchanted.* With two people, you pretty much have to choreograph every move i.e. only one person up and about at a time.* And the bathroom (internal slideout wet bath) was essentially unusable.* Plus, even at only 5'9", I was always brushing my head against the ceiling liner.

So Skinny Winny fits the bill.* It'll get up to 20mpg--the best out there today.* It's also a good hedge:**if the folks in the religion thread are right and armageddon is truly nigh, I can pack her up, strap a date on the roof, and head for the hills.*
Cool! Is it big enough inside? Doable for two people and that's it, I assume. Still, pretty snazzy. I'm curious about what the price range is like if you wouldn't mind giving at least a rough idea (indulging my escapist fanasy). Can you boondock in it at all?
__________________
"There are three kinds of men. The one that learns by reading. The few who learn by observation. The rest have to pee on the electric fence for themselves."



- Will Rogers
brewer12345 is offline   Reply With Quote
Re: Who Was it Predicted $70 Oil?
Old 08-30-2005, 02:34 PM   #13
Recycles dryer sheets
 
Join Date: May 2005
Posts: 287
Re: Who Was it Predicted $70 Oil?

Quote:
Originally Posted by Jay_Gatsby
Does this mean that underwater wells are spewing oil into the ocean? Or did the oil companies "cap" or temporarily plug their wells prior to evacuating?
They stop the oil by stuffing the pipes with baby seals.
__________________
moghopper is offline   Reply With Quote
Re: Who Was it Predicted $70 Oil?
Old 08-30-2005, 02:48 PM   #14
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
haha's Avatar
 
Join Date: Apr 2003
Location: Hooverville
Posts: 22,385
Re: Who Was it Predicted $70 Oil?

I don't make commodity price predictions. However, I will share my current energy portfolio, my basis in each position, and its current price.

Issue** * * * * * * * * * * * * * * * * * * * * * Basis* * * * * * * * * * * * * * Current Price*
Suncor* * * * * * * * * * * * * * * * * * * * * $18.53* * * * * * * * * * * * * *$58.20
Danielson* * * * * * * * * * * * * * * * * * * $ 4.58* * * * * * * * * * * * * * $12.21
ENSCO* * * * * * * * * * * * * * * * * * * * *$26.50* * * * * * * * * * * * * * *$39.66
Dorchester Minerals* * * * * * * * * * *$3.15* * * * * * * * * * * * * * *$27.25
Mesa Royalty Trust* * * * * * * * * * * *$10.63* * * * * * * * * * * * * *$69.45

Can anyone tell me how to use the table builder? I tried for a while, but couldn't get it to work.

Ha

* * * * * * * * * * *
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
haha is offline   Reply With Quote
Re: Who Was it Predicted $70 Oil?
Old 08-30-2005, 03:32 PM   #15
Recycles dryer sheets
 
Join Date: May 2005
Posts: 287
Re: Who Was it Predicted $70 Oil?

Quote:
Can anyone tell me how to use the table builder? I tried for a while, but couldn't get it to work.
In general, I just use the "tt" code for monospace type. It's the typewriter icon while you're editing.


Issue Basis Current Price
Suncor $18.53 $58.20
Danielson $ 4.58 $12.21
ENSCO $26.50 $39.66
Dorchester Minerals $ 3.15 $27.25
Mesa Royalty Trust $10.63 $69.45
__________________
moghopper is offline   Reply With Quote
Re: Who Was it Predicted $70 Oil?
Old 08-30-2005, 03:37 PM   #16
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
haha's Avatar
 
Join Date: Apr 2003
Location: Hooverville
Posts: 22,385
Re: Who Was it Predicted $70 Oil?

Thanks for the tip, Moghopper.

ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
haha is offline   Reply With Quote
Re: Who Was it Predicted $70 Oil?
Old 08-30-2005, 04:30 PM   #17
Thinks s/he gets paid by the post
 
Join Date: Mar 2004
Posts: 2,083
Re: Who Was it Predicted $70 Oil?


Issue Basis Current Price
Suncor $18.53 $58.20
Danielson $ 4.58 $12.21
ENSCO $26.50 $39.66
Dorchester Minerals $ 3.15 $27.25
Mesa Royalty Trust $10.63 $69.45



If you click the sizing icon, you can increase the size to get a nice readable font (for us failing eyesight seniors)
I didn't know about tt, thanks Moghopper.
__________________
I look to the present moment because that's where I live my life.
MJ is offline   Reply With Quote
Re: Who Was it Predicted $70 Oil?
Old 08-31-2005, 09:41 AM   #18
 
Posts: n/a
Re: Who Was it Predicted $70 Oil?

Yes, brewzano, it's a boondocker's delight!* (You have no idea how proud I am of myself that I now know what the term means...).* Everyone has their own space needs, but I think this would be fine for a couple for extended periods, great for an additional couple of kids or grandkids for weekend trips.* They don't run cheap--$78K to $88K MSRP--but hunt a bit and you can find dealers that will slice 25% off that.* I'll be visiting each and every one of my dear dear FIRE friends on this forum in a few months.* As long as you don't mind the pile of beer cans tossed on your front lawn, I'm pretty low maintenance.

t

Quote:
Originally Posted by brewer12345
Cool!* Is it big enough inside?* Doable for two people and that's it, I assume.* Still, pretty snazzy.* I'm curious about what the price range is like if you wouldn't mind giving at least a rough idea (indulging my escapist fanasy).* Can you boondock in it at all?
__________________
  Reply With Quote
Re: Who Was it Predicted $70 Oil?
Old 08-31-2005, 10:29 AM   #19
Thinks s/he gets paid by the post
greg's Avatar
 
Join Date: Jun 2005
Posts: 1,071
Re: Who Was it Predicted $70 Oil?

HaHa--We must have purchased SU about the same time. I got out near $40. Like the stock alot. I'll buy back in later. What do you think about uranium stocks, CCJ, Den.to, IUC.to? I'm waiting for a dip on one of those too? Held CCJ pre-split for a while.

--Greg
__________________
Compounding: Never forget! Never not remember!
greg is offline   Reply With Quote
Re: Who Was it Predicted $70 Oil?
Old 08-31-2005, 01:40 PM   #20
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
haha's Avatar
 
Join Date: Apr 2003
Location: Hooverville
Posts: 22,385
Re: Who Was it Predicted $70 Oil?

Quote:
Originally Posted by Apocalypse . . .um . . .SOON
HaHa--We must have purchased SU about the same time.* I got out near $40.* Like the stock alot.* I'll buy back in later.* What do you think about uranium stocks, CCJ, Den.to, IUC.to?* I'm waiting for a dip on one of those too?* Held CCJ pre-split for a while.

--Greg
Greg, two or three years ago I looked into uranium stocks but didn't do a good research job and didn't turn up anything I felt confident about. At current prices I am not interested. BHP Billiton recently bought WMC Resources, which I think is the world's 2nd largest uranium miner as well as a large copper producer. At better prices, I would be interested in BHP.

I have been trying to get a handle on the world uranium resource. There is a lot of disagreement. I think there may be a lot of uranium around; and of course there is the dreaded breeder reactor to consider.

At present, I am somewhat more interested in plant building, component building, etc for the nuclear industry.
Geoffrey Immelt at GE is moving heavily this way- see article in recent Forbes- and I am looking for a price to enter GE.

Good luck in your speculations!

Ha
__________________

__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
haha is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
It is NOT about the OIL after all doushioukanaa FIRE and Money 20 05-19-2006 01:07 PM
Oil, Oil, Everywhere . . . marty Other topics 1 05-17-2006 03:05 PM
Oil Change (A Little Long) Wife Sent to me, she thought it was cute poboy Other topics 21 03-30-2006 08:15 PM
Katrina Targeting U.S. Oil Operations Craig Other topics 1 08-28-2005 11:57 PM
I need to get a new car! laurence Other topics 124 06-10-2005 09:35 PM

 

 
All times are GMT -6. The time now is 01:02 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.