Get ready for the gas gouge!
#1
Get ready for the gas gouge!
Now that the election is over the oil companies will be emptying out our pockets once again. News stations are saying get ready for the biggest gas price increase we've every seen.[:@] Those crooks now know that they can get away with enormous multibillion dollar profits and nobody will touch them. This is bull****! Talk about manipulation.
jk
jk
#2
RE: Get ready for the gas gouge!
Is that a political statment or based in fact? I may not know much about fixing my ride but if its traded on an exchange then I am home.
So here you go the Futures contracts do not bear out what you state. Below are the charts for unleaded and crude none showing what you say.
The markets could care less about what emotions one is going throu becouse of an event it only cares about the money.
Month
Click for chart Session Pr.Day Options
Open High Low Last Time Sett Chg Vol Sett OpInt
Dec 06 1.5255 1.5720 1.5205 1.5600 Nov 08, 12:54 - 0.0359 3886 1.5241 8596 n/a
Jan 07 1.5491 1.5790 1.5491 1.5790 Nov 08, 12:54 - 0.0249 583 1.5541 4665 n/a
shows Dec 06 unleaded contracts at low $ 1.5205 last trade $ 1.56.00 add your state and fed tax to that and you have a going price for next month provided no global meltdown.
Month
Click for chart Session Pr.Day Options
Open High Low Last Time Sett Chg Vol Sett OpInt
Dec 06 59.30 60.30 59.15 59.85 Nov 08, 12:59 - 0.92 237073 58.93 244435 Call Put
the above shows Dec 06 contracts for Crude Oil at low price $ 59.15 per Brl and a last trade at $ 59.79
These prices are very close to the current costs, winter will bring a normal bump in cost as we must now turn to the fabrication of things like heating oils and the change from summer
blends to winter blends. That is part of the normal market from year to year.
And we did not get into the fact that at over $3.00 per gallon people started to shift thier use of fuel. Markets set the price given demand, if demand is high and one is willing to pay then
the price stays there. If a persons can not afford the price and changes his or her demand the price goes down. Simple no?
So here you go the Futures contracts do not bear out what you state. Below are the charts for unleaded and crude none showing what you say.
The markets could care less about what emotions one is going throu becouse of an event it only cares about the money.
Month
Click for chart Session Pr.Day Options
Open High Low Last Time Sett Chg Vol Sett OpInt
Dec 06 1.5255 1.5720 1.5205 1.5600 Nov 08, 12:54 - 0.0359 3886 1.5241 8596 n/a
Jan 07 1.5491 1.5790 1.5491 1.5790 Nov 08, 12:54 - 0.0249 583 1.5541 4665 n/a
shows Dec 06 unleaded contracts at low $ 1.5205 last trade $ 1.56.00 add your state and fed tax to that and you have a going price for next month provided no global meltdown.
Month
Click for chart Session Pr.Day Options
Open High Low Last Time Sett Chg Vol Sett OpInt
Dec 06 59.30 60.30 59.15 59.85 Nov 08, 12:59 - 0.92 237073 58.93 244435 Call Put
the above shows Dec 06 contracts for Crude Oil at low price $ 59.15 per Brl and a last trade at $ 59.79
These prices are very close to the current costs, winter will bring a normal bump in cost as we must now turn to the fabrication of things like heating oils and the change from summer
blends to winter blends. That is part of the normal market from year to year.
And we did not get into the fact that at over $3.00 per gallon people started to shift thier use of fuel. Markets set the price given demand, if demand is high and one is willing to pay then
the price stays there. If a persons can not afford the price and changes his or her demand the price goes down. Simple no?
#3
RE: Get ready for the gas gouge!
ORIGINAL: mrad
Is that a political statment or based in fact? I may not know much about fixing my ride but if its traded on an exchange then I am home.
So here you go the Futures contracts do not bear out what you state. Below are the charts for unleaded and crude none showing what you say.
The markets could care less about what emotions one is going throu becouse of an event it only cares about the money.
Month
Click for chart Session Pr.Day Options
Open High Low Last Time Sett Chg Vol Sett OpInt
Dec 06 1.5255 1.5720 1.5205 1.5600 Nov 08, 12:54 - 0.0359 3886 1.5241 8596 n/a
Jan 07 1.5491 1.5790 1.5491 1.5790 Nov 08, 12:54 - 0.0249 583 1.5541 4665 n/a
shows Dec 06 unleaded contracts at low $ 1.5205 last trade $ 1.56.00 add your state and fed tax to that and you have a going price for next month provided no global meltdown.
Month
Click for chart Session Pr.Day Options
Open High Low Last Time Sett Chg Vol Sett OpInt
Dec 06 59.30 60.30 59.15 59.85 Nov 08, 12:59 - 0.92 237073 58.93 244435 Call Put
the above shows Dec 06 contracts for Crude Oil at low price $ 59.15 per Brl and a last trade at $ 59.79
These prices are very close to the current costs, winter will bring a normal bump in cost as we must now turn to the fabrication of things like heating oils and the change from summer
blends to winter blends. That is part of the normal market from year to year.
And we did not get into the fact that at over $3.00 per gallon people started to shift thier use of fuel. Markets set the price given demand, if demand is high and one is willing to pay then
the price stays there. If a persons can not afford the price and changes his or her demand the price goes down. Simple no?
Is that a political statment or based in fact? I may not know much about fixing my ride but if its traded on an exchange then I am home.
So here you go the Futures contracts do not bear out what you state. Below are the charts for unleaded and crude none showing what you say.
The markets could care less about what emotions one is going throu becouse of an event it only cares about the money.
Month
Click for chart Session Pr.Day Options
Open High Low Last Time Sett Chg Vol Sett OpInt
Dec 06 1.5255 1.5720 1.5205 1.5600 Nov 08, 12:54 - 0.0359 3886 1.5241 8596 n/a
Jan 07 1.5491 1.5790 1.5491 1.5790 Nov 08, 12:54 - 0.0249 583 1.5541 4665 n/a
shows Dec 06 unleaded contracts at low $ 1.5205 last trade $ 1.56.00 add your state and fed tax to that and you have a going price for next month provided no global meltdown.
Month
Click for chart Session Pr.Day Options
Open High Low Last Time Sett Chg Vol Sett OpInt
Dec 06 59.30 60.30 59.15 59.85 Nov 08, 12:59 - 0.92 237073 58.93 244435 Call Put
the above shows Dec 06 contracts for Crude Oil at low price $ 59.15 per Brl and a last trade at $ 59.79
These prices are very close to the current costs, winter will bring a normal bump in cost as we must now turn to the fabrication of things like heating oils and the change from summer
blends to winter blends. That is part of the normal market from year to year.
And we did not get into the fact that at over $3.00 per gallon people started to shift thier use of fuel. Markets set the price given demand, if demand is high and one is willing to pay then
the price stays there. If a persons can not afford the price and changes his or her demand the price goes down. Simple no?
#5
RE: Get ready for the gas gouge!
I predicted exactly the same thing would happen even before the election (and also told my wife that the first cold spell would be another excuse for those greedy b*st*rds to jack up the price of gas even more because they'd supposedly have to refine more heating oil than gas if that happened.
they pulled that same crap last year too even though it was the mildest winter (in new jersey) in half a century!
don't know if we should be called cynics or realists, but my money is on realists!
GT Newbie
they pulled that same crap last year too even though it was the mildest winter (in new jersey) in half a century!
don't know if we should be called cynics or realists, but my money is on realists!
GT Newbie
#6
RE: Get ready for the gas gouge!
Crude Oil countinues to drop in price on the open markets today under $59 per brl.
Cynics or realists ? Ok lets get real, Inflation adjusted price of gas is cheap, if you add in Inflation over the years gas
should be about 4-5 $ per gallon. Then we need to wake up and become familar with the term Peak Oil plus the fact that
the A Rabs could put a ton of tankers off shore for us to swim in crude but guess what?
We do not have the capacity to refine it all without some more oil refineries being constructed (companies have asked but get blocked)
Not to say that capitalism does not invite a bit of price speculation the truth is if you
do not like the price of fuel use less of it and the demand will drop and so will the price.
Prices are not going to get lower over night without a huge jump in supply.
And by the way since the prices have stabilized under the 3 dollar mark have you taken
Note that the big trucks are selling again? How’s that for using less fuel, or that fact that
Our cars despite the advance in technology weigh more now not less than in the past.
If the price is not to ones liking then do not buy it, but crying about it and still paying
Is sending the wrong message. If one where to take the cost of the military that keeps this
Stuff flowing into account we would be paying even more at the pump. So the Realists are on the money the
question is when do we do something realistic to fix the problem? And yes George may be good buds with oil
but they could care less about him or his party or my party or your party, its all about the money babe.
Cynics or realists ? Ok lets get real, Inflation adjusted price of gas is cheap, if you add in Inflation over the years gas
should be about 4-5 $ per gallon. Then we need to wake up and become familar with the term Peak Oil plus the fact that
the A Rabs could put a ton of tankers off shore for us to swim in crude but guess what?
We do not have the capacity to refine it all without some more oil refineries being constructed (companies have asked but get blocked)
Not to say that capitalism does not invite a bit of price speculation the truth is if you
do not like the price of fuel use less of it and the demand will drop and so will the price.
Prices are not going to get lower over night without a huge jump in supply.
And by the way since the prices have stabilized under the 3 dollar mark have you taken
Note that the big trucks are selling again? How’s that for using less fuel, or that fact that
Our cars despite the advance in technology weigh more now not less than in the past.
If the price is not to ones liking then do not buy it, but crying about it and still paying
Is sending the wrong message. If one where to take the cost of the military that keeps this
Stuff flowing into account we would be paying even more at the pump. So the Realists are on the money the
question is when do we do something realistic to fix the problem? And yes George may be good buds with oil
but they could care less about him or his party or my party or your party, its all about the money babe.
#7
RE: Get ready for the gas gouge!
ORIGINAL: mrad
Is that a political statment or based in fact? I may not know much about fixing my ride but if its traded on an exchange then I am home.
So here you go the Futures contracts do not bear out what you state. Below are the charts for unleaded and crude none showing what you say.
The markets could care less about what emotions one is going throu becouse of an event it only cares about the money.
Month
Click for chart Session Pr.Day Options
Open High Low Last Time Sett Chg Vol Sett OpInt
Dec 06 1.5255 1.5720 1.5205 1.5600 Nov 08, 12:54 - 0.0359 3886 1.5241 8596 n/a
Jan 07 1.5491 1.5790 1.5491 1.5790 Nov 08, 12:54 - 0.0249 583 1.5541 4665 n/a
shows Dec 06 unleaded contracts at low $ 1.5205 last trade $ 1.56.00 add your state and fed tax to that and you have a going price for next month provided no global meltdown.
Month
Click for chart Session Pr.Day Options
Open High Low Last Time Sett Chg Vol Sett OpInt
Dec 06 59.30 60.30 59.15 59.85 Nov 08, 12:59 - 0.92 237073 58.93 244435 Call Put
the above shows Dec 06 contracts for Crude Oil at low price $ 59.15 per Brl and a last trade at $ 59.79
These prices are very close to the current costs, winter will bring a normal bump in cost as we must now turn to the fabrication of things like heating oils and the change from summer
blends to winter blends. That is part of the normal market from year to year.
And we did not get into the fact that at over $3.00 per gallon people started to shift thier use of fuel. Markets set the price given demand, if demand is high and one is willing to pay then
the price stays there. If a persons can not afford the price and changes his or her demand the price goes down. Simple no?
Is that a political statment or based in fact? I may not know much about fixing my ride but if its traded on an exchange then I am home.
So here you go the Futures contracts do not bear out what you state. Below are the charts for unleaded and crude none showing what you say.
The markets could care less about what emotions one is going throu becouse of an event it only cares about the money.
Month
Click for chart Session Pr.Day Options
Open High Low Last Time Sett Chg Vol Sett OpInt
Dec 06 1.5255 1.5720 1.5205 1.5600 Nov 08, 12:54 - 0.0359 3886 1.5241 8596 n/a
Jan 07 1.5491 1.5790 1.5491 1.5790 Nov 08, 12:54 - 0.0249 583 1.5541 4665 n/a
shows Dec 06 unleaded contracts at low $ 1.5205 last trade $ 1.56.00 add your state and fed tax to that and you have a going price for next month provided no global meltdown.
Month
Click for chart Session Pr.Day Options
Open High Low Last Time Sett Chg Vol Sett OpInt
Dec 06 59.30 60.30 59.15 59.85 Nov 08, 12:59 - 0.92 237073 58.93 244435 Call Put
the above shows Dec 06 contracts for Crude Oil at low price $ 59.15 per Brl and a last trade at $ 59.79
These prices are very close to the current costs, winter will bring a normal bump in cost as we must now turn to the fabrication of things like heating oils and the change from summer
blends to winter blends. That is part of the normal market from year to year.
And we did not get into the fact that at over $3.00 per gallon people started to shift thier use of fuel. Markets set the price given demand, if demand is high and one is willing to pay then
the price stays there. If a persons can not afford the price and changes his or her demand the price goes down. Simple no?
But I do agree with what your stats say and your conclusions though. I just wanted to point that out. (not trying to be a dick here)
EDIT: The business cycle and the variations of crude oil do vary with elections as well as public declarations (war, etc.). Theses external factors play an important role in affecting gas prices. However, they only affect the prices temporarily. In the long run, you can expect to see gas prices go higher because of the still strong demand (especially with all of theses SUV's still being sold on the market). As long as people don't change their way of living, I don't see why the gas prices should go down (we're talking about the long run of oil prices here, not short term variations).
#8
RE: Get ready for the gas gouge!
1) There is no gas shortage. There is plenty of supply on the market.
2) There have been no storms in the gulf this year.
3) Other than the BP scare this summer, which really didn't affect the market that much anyway, there have been no refinery shut-downs that would restrict the supply of gas.
4) Like the man said, gas futures are not high,
THERE IS NO REASON FOR GAS PRICES TO CLIMB SIGNIFICANTLY, SO WHY ARE THEY? GREED!
And here's something else to consider: To those who say "be happy we're not paying $4 - $5 per gallon" I say this:
This is America. No Europe, Not Asia, Not Australia. We are the strongest industrialized nation in the would. We can and do make butt-loads of just about everything a person needs to live and work affordably, including gasoline. The country is built on roads, cars, and freedom to drive wherever and whenever without having to mortage the house to pay for the fuel.
2) There have been no storms in the gulf this year.
3) Other than the BP scare this summer, which really didn't affect the market that much anyway, there have been no refinery shut-downs that would restrict the supply of gas.
4) Like the man said, gas futures are not high,
THERE IS NO REASON FOR GAS PRICES TO CLIMB SIGNIFICANTLY, SO WHY ARE THEY? GREED!
And here's something else to consider: To those who say "be happy we're not paying $4 - $5 per gallon" I say this:
This is America. No Europe, Not Asia, Not Australia. We are the strongest industrialized nation in the would. We can and do make butt-loads of just about everything a person needs to live and work affordably, including gasoline. The country is built on roads, cars, and freedom to drive wherever and whenever without having to mortage the house to pay for the fuel.
#9
RE: Get ready for the gas gouge!
The last time I investigated the price of gas I discovered the folLowing:
In 1967 (I was just starting to drive) the price of gas was $.33/gal. If you figure the inflation rate from then to now you need to multiply by about 7 which gets you to $2.31/gal in 2006 dollars. This is more than what we are paying in Virginia now. So the price of gas hasn't changed in 40 years!
What has changed in the last 40 years if you compare in the same year dollars? Cars have increased by 2-3 times, but they are probably 2-3 times more reliable so you get value for the added cost. Housing has increased by 2 times but you can't say there is any value added (they are still pine and shingles). Food is cheaper because our production and distribution system is so more efficient. Electronics are alot cheaper and better. Medical care is alot more expensive but it is also alot better.
So when people complain about gas being too high they should really be complaining about the price of housing (rent and mortgage) which hasn't really gotten better and costs alot more.
That's my simplistic analysis.
In 1967 (I was just starting to drive) the price of gas was $.33/gal. If you figure the inflation rate from then to now you need to multiply by about 7 which gets you to $2.31/gal in 2006 dollars. This is more than what we are paying in Virginia now. So the price of gas hasn't changed in 40 years!
What has changed in the last 40 years if you compare in the same year dollars? Cars have increased by 2-3 times, but they are probably 2-3 times more reliable so you get value for the added cost. Housing has increased by 2 times but you can't say there is any value added (they are still pine and shingles). Food is cheaper because our production and distribution system is so more efficient. Electronics are alot cheaper and better. Medical care is alot more expensive but it is also alot better.
So when people complain about gas being too high they should really be complaining about the price of housing (rent and mortgage) which hasn't really gotten better and costs alot more.
That's my simplistic analysis.