$100 a Barrel!
- Thread starter Will E Worm
- Start date
It might be a good idea to go out now to buy that Hummer, SUV or big pickup truck. That way, with it's bigger gas tank you can store as much extra fuel as you can squeeze in there while the price is still this cheap.
I mean why pay $5 a gallon next month, when you can stock up for $3 a gallon this month?
I mean why pay $5 a gallon next month, when you can stock up for $3 a gallon this month?
Wow, this is terrible news for us SUV owners, I wish I could afford another car
F* that! I wish I could afford more Exxon / Mobil stock
http://finance.yahoo.com/q/bc?s=XOM&t=5y&l=on&z=m&q=l&c=
member006
Closed Account
Pales in comparison with some fluids we buy. *shrug*
http://www.bloggingstocks.com/2007/12/04/c-note-per-barrel-oil-doesnt-scare-me/2
LL
http://www.bloggingstocks.com/2007/12/04/c-note-per-barrel-oil-doesnt-scare-me/2
LL
Vanilla Bear
Bears For Life
Ha. I dont have to fuel 90 liter in my Benz anymore :crying:
:crying:
Will E Worm
Conspiracy...
Jagger69
Three lullabies in an ancient tongue
It might be a good idea to go out now to buy that Hummer, SUV or big pickup truck. That way, with it's bigger gas tank you can store as much extra fuel as you can squeeze in there while the price is still this cheap.
I mean why pay $5 a gallon next month, when you can stock up for $3 a gallon this month?
A better idea would be to get an RV (especially since you won't be able to afford a house or apartment anymore)!
:wtf:
Did you know...
"Violence in Nigeria helped give crude the final push over $100"
http://www.usatoday.com/money/industries/energy/2008-01-02-crude-wed_N.htm
Anyone still not believe we are ALL connected on this planet? :wave2:
"Violence in Nigeria helped give crude the final push over $100"
http://www.usatoday.com/money/industries/energy/2008-01-02-crude-wed_N.htm
Anyone still not believe we are ALL connected on this planet? :wave2:
Yeah for sure its all connected,any disruption or even fear of it anywhere will translate into worldwide higher prices.Someday there will be wars over such things as oil as demand ever increases and supplys decrease.Thats what Iraq was about, permanent bases so we can be ready to seize control of the oil fields and dictate where it goes.
We've been discussing this for weeks on this board. It's a nice coincidence that on the first official trading day of Dubya's last calendar year in office...Oil hits the $100/barrel mark. I think Dubya and Big Oil will be cranking the Hype machine and Oil will be $125/barrel through summer and it will start to drop once the new Democrat president gets elected and oil will be back to $55-$65 a barrel which is more reflective of its "actual" cost.
I believe, as do many Economists, that the *true* price of Oil should be in the $55-$65 range and that anything above $65/barrel has hype and fear built into the price.
Americans and the Euros are all getting "bent over" at the pump right now basically because Bush and his "pals" want to make a lot of money through the Iraq "War"...
The other reality is that for Americans, we are being *conditioned* to accept $3 a gallon at the pump because Local Governments are going to implement "Gas Taxes" because local governments are crumbling right now due to the Housing Meltdown. So even when President Edwards/Clinton/Obama takes office and the barrel price starts to return to a normal price...local governments will begin the PR campaign to "install an emergency recovery tax" at the pump to pay for crumbling infrastructures and schools...
We may laugh at the Euros for their crazy pump prices..we won't be laughing at them when we start cranking up our own gas taxes...
I believe, as do many Economists, that the *true* price of Oil should be in the $55-$65 range and that anything above $65/barrel has hype and fear built into the price.
Americans and the Euros are all getting "bent over" at the pump right now basically because Bush and his "pals" want to make a lot of money through the Iraq "War"...
The other reality is that for Americans, we are being *conditioned* to accept $3 a gallon at the pump because Local Governments are going to implement "Gas Taxes" because local governments are crumbling right now due to the Housing Meltdown. So even when President Edwards/Clinton/Obama takes office and the barrel price starts to return to a normal price...local governments will begin the PR campaign to "install an emergency recovery tax" at the pump to pay for crumbling infrastructures and schools...
We may laugh at the Euros for their crazy pump prices..we won't be laughing at them when we start cranking up our own gas taxes...
Yeah a man could make a buck or too.
Or 5 or $6 or more!
No, not in our lifetime. Our leaders are free of influence being stupid but still technically related to thinking people in the oil business who offer them tens of millions in oil revenue. I mean there is no payback here for early political support, or so I think we are being told.
Very good and serious point. Americans are conditioned to be spoiled, selfish and wasteful. However I do not like any of the current political candidates and refuse to support the lesser of evils. When someone shows my integrity and honesty, I'll think about it.
Legzman
what the fuck you lookin at?
LL only you could consume a $1,792 a barrel of starbucks latte! :rofl:
Of course most people also can't drink 20 gallons of milk a week either and can make due with just one.
Actually, I think that price per barrel is closer to like 60% of the closing price. The rest is spectulation.
So, Oil should be around $60, but because of the clusterfuck in the Middle East, it's as high as it is now.
The $100 dollars a barrel price is the spot market price. This is the price to buy today, but most Major Oil Company buy oil on a longer term contract. They do not pay the spot price but use the contract price. Even though they pay the lower contract cost they price the oil they sell at replacement cost as defined by the spot market. In other words, when you buy oil products the price is based on the higher spot market cost of $100 a barrel even if the Oil Company paid $70 a barrel. The price goes up when the cost has not changed. This is what is called a “Windfall Profit”.
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