Oil prices going up again. . .

[Porsche-O-Phile]

http://money.cnn.com/2006/10/05/markets/stockswatch/index.htm?cnn=yes

Our OPEC friends slashing production. Between that and the post-election price bump that's inevitable anyway I predict we'll soon be seeing $3.00+ gasoline again in most areas of the country before too long. . .

I feel for all those people in non-sunny states too. Winter is coming. Home heating bills should be nice and phat this winter.

[NICKG]

well ofer $2.50 a gallon for home heating oil already...good thing i had a wood stove installed last year! sitting on almost 2 cords of nice ash, cherry and oak(some mixed maples too) for this winter

[gaijindabe]

Most oil is pumped by poor countries. Most can use all the money they can get. These agreements to slash production do not always hold up. We shall see..

[nota]

I do not expect a big jump BEFORE the election
now, right after that time
prices will go up up up

BuSh2 may not control prices
but the OIL CORPs sure do
and are willing to do so for political gain

[sammyg2]

Bush controls oil prices? Asinine.

[Jims5543]

Still paying 2.50 for regular here and 2.80 for super. Since all my cars take super I have not really seen a huge drop anyway.

20 cents woopeee!!

[hytem]

My spies are telling me all those oil execs who contributed to Bush's campaign are going to try to get gas below a buck a gallon just before election day. Get your driving in--now.

[Rick Lee]

Originally posted by hytem
My spies are telling me all those oil execs who contributed to Bush's campaign are going to try to get gas below a buck a gallon just before election day. Get your driving in--now.

I guess that means the black helicopter pilots will be able to keep their hours up too.

[VenezianBlau 87]

Today's WSJ print edition had an article predicting lower crude and gasoline prices into next year!?! Prices around here have been $2.00 (87) and $2.20 (93) for maybe two or three weeks!

[BGCarrera32]

Originally posted by sammyg2
Bush controls oil prices? Asinine.

Yeah no kidding. Bush is a moron and can't run the country or hold the party together and he's a drunk on meds blah blah blah but has ultimate control and manipulation of the world oil market and prices will be 99 cents a gallon on November 2nd.

The absurdity continues...

[1967 R50/2]

Originally posted by Porsche-O-Phile
http://money.cnn.com/2006/10/05/markets/stockswatch/index.htm?cnn=yes
Winter is coming. Home heating bills should be nice and phat this winter.

:

1. A warm winter is predicted for the northeast due to a mild el nino. The northeast is of course, the most densily populated part of the country and therefore has the most influence over supply/usage.

2. Fill up your oil tank now, if you are convinced it will be expensive this winter.

[dafischer]

I'd say it's just about time for the oil companies to say "Gee, we forgot to make any extra heating oil this year. Looks like the price will be going up".

Just like they have for the past five years. Rotten bastards.

I guess keeping warm will become a "luxury" for those who can least afford it.

[Rearden]

Unfortunately, private Western companies don't have much influence on oil prices.

[911pcars]

The petroleum industry's marketing guys are pretty shrewd. They now have us thinking that $2.50 is inexpensive. After they hike it to $3+/gallon for a few months, they'll lower it to $3.00 and we'll think that's cheap gas too. And so on and so on.

Consumption goes hand in hand with what we think is a good price.

[red-beard]

Gas is now under $2 per gallon. I saw $1.939 on Wednesday. Houston gas in not "cheap" with all of the oxygenators added. I bet San Antonio is under $1.90 per gallon.

Denver was $2.55-2.60/gallon for 85 OCTANE! Something weird about that place.

[legion]

It is all of the EPA-mandated custom blends that keep the prices higher in certain areas...

[sammyg2]

Urban myths are running rich here today.

The oil execs do not control the price of gasoline. All they can control is the supply and if they played with that they would be in jail in a week. It just doesn't work that way so stop speading this manure.
OPEC can play with the supply of oil but that is not directly related to the price of gasoline.

[widebody911]

Originally posted by sammyg2
The oil execs do not control the price of gasoline.

Then how does the price of gas - at the pump immediately jump during an event? For instance, prices shot up when the Valdez crashed, and after Katrina. When interviewed, service station owners said the price increases came from higher up. Someone is fibbing - and gouging - so who is it?

[Rick Lee]

If a station owner hears from the supplier that his gas will be $.xx per gallon more to replace, he will start charging that price immediately. Why would he wait until he had already paid out for that gas to raise his prices?

[911pcars]

Why is it that we consumers are used to daily, weekly and monthly price fluctuations with this product? What other consumer product is priced that way besides John Ashcroft and Paris Hilton CDs which start high and end low? Using the same pricing strategy, I would expect toilet paper to be priced the same way. The material is a natural resource. Environmentalists say there's an ever dwindling supply of rain forests providing this needed end-product. (pun)

The law of supply and demand works here too. Let's see. Let's price Charmin TP at 58 cents/roll this week, cut production and supply; demand goes up, then charge a buck a roll the next week. At the rate our household goes through TP, that's a significant amount of money going down the drain (pun).

However, I don't thing this would work for TP. The TP cartel, oh there is one, realizes entrepeneurs will merely head to Iowa and purchase the entire years crop of corn cobs to take care of demand. More enterprising consumers might go on a low-fiber diet and automatically reduce their consumption of TP.

Stress is also known to cause constipation and thus less need for TP. Have you ever encountered a roll with only 3 squares left on it, and no spares in sight or convenient access? That situation produces stress even if there's a ready supply of ass-gaskets on hand. In the long term, planned stress risors such as this could result in massive stock losses in the TP industry. OTOH, imagine the money corporations will save by reducing the frequency of bathroom breaks.

We need something similar with oil and fuel.

Sherwood