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Crude up 4.15 today over 94 fed lowers 1/4 pt, Sorry but trouble looms.
10-31-2007, 02:22 PM
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#1
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gone traveling
Join Date: Nov 2005
Posts: 2,146
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Crude up 4.15 today over 94 fed lowers 1/4 pt, Sorry but trouble looms.
Business and Financial News - New York Times
I know I know, bearer of bad news the sky is falling stuff, BUT... The dollar is worth you know what oil is purchased in dollars 100+ a barrel is next week at this rate and 5 dollar gasoline is here in feb or sooner. The american public who still own vehicles that get cr@p mileage are going to be the ones that turn the economy into a recession. And even the oil stocks are gonna get creamed. Be careful what you guys wish for in the energy sector!
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10-31-2007, 02:28 PM
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#2
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Thinks s/he gets paid by the post
Join Date: Jun 2005
Posts: 4,391
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The end is near....
Repent !
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10-31-2007, 02:35 PM
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#3
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2003
Location: Kansas City
Posts: 7,968
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Yesterday when I gassed up - I noticed a sticker on the pump - to the effect that any unleaded(not just super unleaded) can have up to 10% ethanol in Missouri(state law) starting in 2008.
Man that's gonna really screw up the price of vodka!
Looks like we'll be singing beer and wine are hear again.
heh heh heh
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10-31-2007, 02:43 PM
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#4
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Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,472
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Quote:
Originally Posted by unclemick
Yesterday when I gassed up - I noticed a sticker on the pump - to the effect that any unleaded(not just super unleaded) can have up to 10% ethanol in Missouri(state law) starting in 2008.
Man that's gonna really screw up the price of vodka!
Looks like we'll be singing beer and wine are hear again.
heh heh heh
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Is this going to mess up my Toyota Camry Solara when I move to Missouri? I don't mind high gas prices (since I dont' drive much) but wonder if this would damage the engine or something.
Do you think all the gas will have ethanol added? Or maybe just the cheap-o stuff?
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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10-31-2007, 02:45 PM
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#5
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2003
Posts: 18,085
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Out east all our gasoline seems to have had etoh in it for a while. Doesn't seem to make any difference.
__________________
"All animals are equal, but some animals are more equal than others."
- George Orwell
Ezekiel 23:20
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10-31-2007, 02:48 PM
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#6
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 38,001
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Don't worry about the added ethanol stuff. Your engine will be just fine. Some parts of the country already have ethanol in the fuel and you can't avoid it there. We've never noticed any problem no matter which state we fill up in.
I know I'm stuck with $3+ diesel indefinitely, I think I saw the last of the $2.30 to $2.50 range earlier this year. $5? not so sure how soon we'll see that, but I suppose it'll be soon enough.
It is shocking to see oil rise > $4/barrel in one day.
Audrey
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10-31-2007, 02:50 PM
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#7
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 38,001
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P.S. I do believe that at some point the equity markets will react negatively to the rising price of oil. Will it take >$100 to do it? Maybe.
Then again, markets are famous for not doing what we expect.
Audrey
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10-31-2007, 02:51 PM
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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: Oct 2005
Location: North Oregon Coast
Posts: 16,483
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I think OPEC is pumping all they can but is making other excuses as to why they won't raise production...they know a flat-out admission that peak oil has already occurred will absolutely screw the markets. I think some speculators are sensing this, because the fundamentals don't justify $95 oil or even $80 oil.
That's my theory, anyway.
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
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10-31-2007, 03:06 PM
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#9
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Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,472
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Thanks, Audrey and Brewer. Whew! That's good to know.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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10-31-2007, 03:15 PM
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#10
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Recycles dryer sheets
Join Date: Mar 2005
Posts: 352
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If the price per barrel just keeps rising, do companies like Exxon do better or worse (stock value)?
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10-31-2007, 03:24 PM
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#11
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Thinks s/he gets paid by the post
Join Date: Apr 2007
Posts: 1,305
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Quote:
Originally Posted by unclemick
Man that's gonna really screw up the price of vodka!
Looks like we'll be singing beer and wine are hear again.
heh heh heh
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? isn't vodka made from potatoes? Should we be loading up on McD's fries now too?
geez, it's even getting tougher to be unhealthy these days.
__________________
Life is GREAT!
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10-31-2007, 03:41 PM
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#12
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2003
Location: Kansas City
Posts: 7,968
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Quote:
Originally Posted by megacorp-firee
? isn't vodka made from potatoes? Should we be loading up on McD's fries now too?
geez, it's even getting tougher to be unhealthy these days.
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Potatoes, grain or molasses - but I don't think Idaho will become the OPEC of ethanol - speaking potato wise.
heh heh heh - ? Isn't the Brazilian version 85% ethanol from molasses and 15 % gasoline?
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10-31-2007, 03:49 PM
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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: Feb 2005
Location: Central MS/Orange Beach, AL
Posts: 9,067
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All I know is my oil etf's have been going up in tune with the price per barrel. I took some profits today though. Stuff it under my mattress to pay for the higher prices at the pump.
__________________
Retired 3/31/2007@52
Investing style: Full time wuss.
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10-31-2007, 05:55 PM
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#14
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Thinks s/he gets paid by the post
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,455
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I normally avoid stations that supply ethanol, such as Holidays and SuperAmerica.
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10-31-2007, 06:52 PM
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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: Apr 2003
Location: Hooverville
Posts: 22,983
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Quote:
Originally Posted by Spanky
I normally avoid stations that supply ethanol, such as Holidays and SuperAmerica.
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10% ethanol is mandated at all stations in urban Puget Sound in winter. I believe the same is true in some other areas too. It is sold as an air quality improver.
Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
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10-31-2007, 07:56 PM
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#16
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gone traveling
Join Date: Nov 2005
Posts: 2,146
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Quote:
Originally Posted by haha
10% ethanol is mandated at all stations in urban Puget Sound in winter. I believe the same is true in some other areas too. It is sold as an air quality improver.
Ha
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Its used instead of MBTE, that stuff was a nasty additive, kinda polluted the water that we drink. Most urban areas in the country use a 10% to 90% gasoline blend. The real problem though with ethanol is it picks up water and cannot be piped to areas in the country like MBTE was. they need to truck the stuff or rail cars but our efed up railroads in this country keep tanker trucks on the road!!
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10-31-2007, 08:04 PM
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#17
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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
Its used instead of MBTE, that stuff was a nasty additive, kinda polluted the water that we drink. Most urban areas in the country use a 10% to 90% gasoline blend. The real problem though with ethanol is it picks up water and cannot be piped to areas in the country like MBTE was. they need to truck the stuff or rail cars but our efed up railroads in this country keep tanker trucks on the road!!
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Yes, that is an intersting point. When ethanol is used to spare crude oil, I wonder if the additional tanker travel to deliver ethanol when added to diesel usage in cultivation operations might not pretty well use up the potential savings.
Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
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10-31-2007, 08:33 PM
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#18
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Recycles dryer sheets
Join Date: Jan 2006
Posts: 369
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not so fast
Quote:
Originally Posted by Want2retire
Is this going to mess up my Toyota Camry Solara when I move to Missouri? I don't mind high gas prices (since I dont' drive much) but wonder if this would damage the engine or something.
Do you think all the gas will have ethanol added? Or maybe just the cheap-o stuff?
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When you move you have to run your tank to near empty when moving from an MTBE are to an ethanol area. They do interact and form a kind of sludge that can cause clogged fuel injectors and carbs. Lots of factors. But this is the safe approach.
Hundreds of snow mobiles, ATV's and Boats had issues in Maine over the past few years and it appear partially related to the low consumption of gas by most users (ie. you use your boat or snowmobile a half dozen times a year, maybe one tank and top it off with ethanol).
If you have old gas and are going to an ethanol area, you can add "gas stabilizer" available anywhere to help the issue.
If you run thru a tank of gas every 2-4 weeks or so you probably won't have a problem with ethanol at all but gas stabilizer is cheap and worth it IMHO.
Note:
If you end up with Ethanol gas only in your community, you need to add gas stabilizer to ALL your gas cans for lawn mowers, weed wackers etc or you will be screwed. As previous poster noted, ethanol attracts water.
Alos needed if you have a classic car you don't use often. The older Etahnol gas is the more water it absorbs.
GOOGLE should yield a lot of info. I can provide more info if it helps anyone.
W
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10-31-2007, 08:39 PM
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#19
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Thinks s/he gets paid by the post
Join Date: Aug 2004
Location: St. Louis
Posts: 2,179
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Quote:
Originally Posted by ziggy29
I think OPEC is pumping all they can but is making other excuses as to why they won't raise production...they know a flat-out admission that peak oil has already occurred will absolutely screw the markets. I think some speculators are sensing this, because the fundamentals don't justify $95 oil or even $80 oil.
That's my theory, anyway.
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I've never understood this argument - wouldn't it be in the best interests of OPEC (and other oil rich nations) to say "Ok-we're at peak oil now. Everyone's doomed."
Oil would mushroom to $200/barrel, Saudi Arabia would be the richest nation on earth, and oil nations would be rolling in dough.
What incentive do they have to lie and say "everything's fine, there's plenty of oil to go around"?
__________________
Dryer sheets Schmyer sheets
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10-31-2007, 08:48 PM
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#20
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gone traveling
Join Date: Nov 2005
Posts: 2,146
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Quote:
Originally Posted by MooreBonds
I've never understood this argument - wouldn't it be in the best interests of OPEC (and other oil rich nations) to say "Ok-we're at peak oil now. Everyone's doomed."
Oil would mushroom to $200/barrel, Saudi Arabia would be the richest nation on earth, and oil nations would be rolling in dough.
What incentive do they have to lie and say "everything's fine, there's plenty of oil to go around"?
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200 dollar oil says depression around the world and only the rich would be driving. Jobs would be gone, workers would not be able to get to work with 10+ dollar a gallon gasoline. Things would just stop. They may have mucho oil but they are not stupid. Now the traders are well....
In addition you would see fuel cell vehicles and cars running on something other than gasoline so oil would become well obsolete.
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