Archived

This topic is now archived and is closed to further replies.

Ron Sorden

Bought gas today!!!

Recommended Posts

My piggy bank after fillilng my tractor's tank today!!

POOR THING... :P:P:P

Share this post


Link to post
Share on other sites

Futures dropped another 14 cents or so today. That pig should be able to get at least a little fatter in the next month or so. Don't know what the spot market is doing, but it must still be high, because there's not one station in the entire Pittsburgh area who wants to go below 2.99. I hope it tends toward the futures soon.

Share this post


Link to post
Share on other sites
Futures dropped another 14 cents or so today. That pig should be able to get at least a little fatter in the next month or so. Don't know what the spot market is doing, but it must still be high, because there's not one station in the entire Pittsburgh area who wants to go below 2.99. I hope it tends toward the futures soon.

Looked again just now when going down to the local truck stop, 2.79 at SA.

best, randy

Share this post


Link to post
Share on other sites

I was just reading that unleaded oct futures closed at approx. $2.00(can't remember exact no.#) But they said it will take quite some time for pump prices fall. It sure wouldn't take much time if prices were going up. Just my 2 cents.

Share this post


Link to post
Share on other sites
...they said it will take quite some time for pump prices fall. It sure wouldn't take much time if prices were going up. Just my 2 cents.

Sure seems that way, don't it? :blink:

Share this post


Link to post
Share on other sites

Well guys, the prices going up and down depend on the spot market. The gas here has dropped 3 cents down the road, and I think Randy has been the first beneficiary of the spot market moving toward the futures (as they always do near when the contract closes, right? or we'd all be swimming in money because we mastered arbitrage). Supply shortage slammed us into a spot market flying up, and fortunately, the futures market stayed relatively stable. We'll get back down there.

I do believe the NYMEX Oct 05 gas closed just about 2.05. Not too bad considering it was over 2.40 last Thursday. The one problem with this re-convergence with the long-term futures is that nobody is going to think this price increase was anything other than gouging, which just isn't the case - though some did take place. We will have learned nothing from it, and the same "big oil" name callers will continue to do so and we'll be no better off.

What was that about old wives tales and repeating errors?

Share this post


Link to post
Share on other sites
Well guys, the prices going up and down depend on the spot market. The gas here has dropped 3 cents down the road, and I think Randy has been the first beneficiary of the spot market moving toward the futures (as they always do near when the contract closes, right? or we'd all be swimming in money because we mastered arbitrage). Supply shortage slammed us into a spot market flying up, and fortunately, the futures market stayed relatively stable. We'll get back down there.

I do believe the NYMEX Oct 05 gas closed just about 2.05. Not too bad considering it was over 2.40 last Thursday. The one problem with this re-convergence with the long-term futures is that nobody is going to think this price increase was anything other than gouging, which just isn't the case - though some did take place. We will have learned nothing from it, and the same "big oil" name callers will continue to do so and we'll be no better off.

What was that about old wives tales and repeating errors?

OR it could be that WE are right and you are wrong. Depends on your view point.

G W's mom sure said a mouthfull today when she said something to the effect that those POOR people will actually make out real well. She was talking about the stranded poor of the disaster area,

OR heck mabey she was talking about her friends in the oil business

depends on your point of view...

Tim

Share this post


Link to post
Share on other sites

Still 2.99 here but at home it was 3.14 and now it is 2.99. Would be nice for it to go back to 2.30 a gallon. See what the oil companys have gotton us use to, we use to complain when gas a 1.50 now if it is 2.30 were happy becaus it isn't 2.99 ;);););););)

jeremy

Share this post


Link to post
Share on other sites

i read somewnere the oil companys were surprised that people did not react violently ,what are we going to to ???? .no sense in doing somthing stupid and going to jail ,and we cant not buy fuel ,am i going to stay home from work and get fired or leave several thousand dollars worth of hay on the ground and not bale it ?. the crooked #$%^&* oil companys have lined their pockets at our expence , prices will never be below 2$ again. heck we think that would be a bargin.what a bunch of BUll$HIT

Share this post


Link to post
Share on other sites
The one problem with this re-convergence with the long-term futures is that nobody is going to think this price increase was anything other than gouging, which just isn't the case - though some did take place. We will have learned nothing from it, and the same "big oil" name callers will continue to do so and we'll be no better off.

What was that about old wives tales and repeating errors?

I take your point PPO - even though it sure feels like we've been gouged by a bunch of opportunistic SOB's. Still have be be realistic and concede that is probably an excellent example of a free market in motion.

So, a well-reasoned question: what DO we learn from all this? Not being a sart-mass here, I'd really like to know.

And is it possible to get reasonable gas prices in place - something us working stiffs can afford and live with?

I guess that I'm thinking these days about the direction the country went when I was in my 20's. Little cars that got good gas milage. Back in the day, I thought that was the way it would be from then on out, but we got back to the gas guzzlers anyway. ****, I drive a `96 F150 that gets 16-17 on the highway, and Mrs. waterpourer drives a Tahoe that is about the same. Glad I still have that old Honda around.

Lot of people think drilling in ANWR is the answer - I'm not buying it. I don't think it will stack up.

What I could really get excited about is going in a new direction energy-wise. I wish hydrogen fuel cell technology was further along, but as long as gas was cheap, it wasn't going to happen. Now we've got a pretty considerable lead-time to get something like that on-line. :(

Share this post


Link to post
Share on other sites

WP - I don't know that hydrogen fuel cells is really the answer because you still have to get the hydrogen. Then you have to have an infrastructure to handle it.

I really don't know what the answer is, but for starters, I'd like to see some of the NHTSA regulations cut back so guys like me could get little "darter" cars that would weigh about 500 pounds, be simple and get great gas mileage. Granted, they wouldn't be that safe, but that should be MY choice and not some pussified nanny state. If you want to put a minimum age like 21 or something on it, go ahead - but it shouldn't be hard to get a simple car that gets 50 miles per gallon and still goes fast enough to fun to drive. I'm thinking 50 horsepower in a tube frame weighing a total of 500 pounds or so.

The other side of this is to start to get away from liquid fossil fuels in stationary applications. More nuclear, more coal fired ... and neither of those is politically popular because of ignorance. We have things that have to have fossil fuels to go (jets and such), so why not spare some of that burning coal or building nuclear plants. We had one near meltdown in the country's history, and that's enough to keep us from going forward with progress. We sure are a bunch of pussies about some things. I wonder how many people are living with asthma and getting respiratory diseases because of air quality - when all we can think about is three mile island when someone mentions nuclear.

Anyway, I agree about ANWR. I don't think that's a good reason not to drill though. Use what you got, just don't make it out to be a pariah. If it has 16 billion barrels like they say it might, good for us. Let's do both - secure the present AND look to the future. People are just too narrow minded and they like to pick one thing and that's it. It's just stupid.

And I don't think for a second there's a conspiracy to keep big oil in business. All it takes is complacency, laziness and short-sightedness - and there's no lack of that in our society as long as something bad hasn't happened since yesterday.

Share this post


Link to post
Share on other sites

can through town saturday and put gas in the 756 loader tractor

(that was about emty) and it took 84.70 $ OUCH :angry:

Share this post


Link to post
Share on other sites

Ron Sorden - Went down to the local truck stop here for lunch today, gas is down again here at SA I see. Now 2.76.

best, randy

Share this post


Link to post
Share on other sites

Don't want to start a war here but it has to have been gouged. The refineries are not up to full capacity yet, Oil companies have record profits (supply and demand my rear), how else can you explain that gas jumps 3 times in one day and no new deliveries to the pump.

Even though the world released oil from their strategic reserves.

Finally came down .20 cents here yesterday. $2.98/gallon

Oh well life goes on :mellow::mellow::mellow::wacko:

Share this post


Link to post
Share on other sites
  More nuclear, more coal fired ... and neither of those is politically popular because of ignorance. We have things that have to have fossil fuels to go (jets and such), so why not spare some of that burning coal or building nuclear plants. We had one near meltdown in the country's history, and that's enough to keep us from going forward with progress. We sure are a bunch of pussies about some things. I wonder how many people are living with asthma and getting respiratory diseases because of air quality - when all we can think about is three mile island when someone mentions nuclear.

Seems I read that either in Alabama or Georgia, they're gonna have a nuclear power plant????? Anyone with info on this? I think this about the only thing we can do at the moment. Faster to put up a plant than set up the country for hydrogen fuel cell technology.

Share this post


Link to post
Share on other sites

oldcowhand - I'd sure like to see more information on it. Not only is it faster, but it's probably cleaner in the end, too. I'm still wondering about the delivery and production of hydrogen in a cost-efficient manner. Not to mention that you'll be driving around with a layered tank holding 3500psi. I don't feel that comfortable about that.

Seems like if anything, the technology is more suitable for stationary vehicles. Even the electric powered vehicle option might not be so bad now - esp if you could get standardized batteries and swap them out at a "service station" chain, instead of waiting for them to recharge. It would take some SERIOUS capital outlay to be able to buy all those batteries, though.

Share this post


Link to post
Share on other sites

Ernest - i explain the multiple increases in a day to being able to afford to fill the station tanks the next time the truck shows up.

We're seeing the same price as you are now. The october futures are looking like 2.65 a gallon with tax and profit, so we should be headed in that direction unless something changes.

Share this post


Link to post
Share on other sites

Ron Sorden - An update on the fuel prices, looked this morning on the way home from the truckstop, down again, 2.63 at SA now.

best, randy

Share this post


Link to post
Share on other sites

Randy - it's down everywhere, and the futures contracts for october '05 are down to the 1.865 range right now, with the Nov '05 contracts being a little lower. That should correspond to gas coming in around $2.50 here, and I see it's available in mississippi for around $2.40 right now. Up here in the northeast, we're about as bad off in prices as you can be. $2.85 is the lowest on gasbuddy.com, and lowest i've seen in person is 2.89 down the road. Would imagine that'll drop another 10 cents this evening.

The day the prices crept up fast, my girlfriend showed up and said she heard on the radio (on a "news" program) on the way over that gas would be over $4.00 for the next five months. I said to her "Why...I didn't see anything that would indicate that in the futures today, only the short-term contracts are up". She just looked at me.

Goes to show what you get in the "news". Strange how the more of it you listen to that you know something about, the more all of it seems to be crap.

Share this post


Link to post
Share on other sites

2.78 is the lowest i have seen here ,down from 3.09 .the crooked greedy oil companys did just what they wanted ,now if it ever gets back down to 2$ we will think it is a good deal. corporate greed is a bigger enemy to the u.s than terrorism ever was or will be .........imo.

Share this post


Link to post
Share on other sites

tommyw - re>>the crooked greedy oil companys<<

Looks'ta me like you need to hurry up and buy some stock in them then, right? If that's true, then the return on investment sure's gotta be good, beats farmin', right?

best, randy

Share this post


Link to post
Share on other sites

wish i would have done that ,but i follow advice my grandad used to say "dont mess with things you dont know about" .dont know alot about the stock market in general.

Share this post


Link to post
Share on other sites
I take your point PPO - even though it sure feels like we've been gouged by a bunch of opportunistic SOB's. Still have be be realistic and concede that is probably an excellent example of a free market in motion.

a free market is defined by multiple marketeers offering prodcuts at competitive prices that would be dictated by that very system.

when 5 vendors hold all the supplies that is not a free market. when it is a commodity everyone HAS to have that is a public ulitity.

the 5 major oil companies posted 8 billion in profits during their last quater. key word here is profit!

time to break them up under the anti trust laws!

Share this post


Link to post
Share on other sites
I take your point PPO - even though it sure feels like we've been gouged by a bunch of opportunistic SOB's. Still have be be realistic and concede that is probably an excellent example of a free market in motion.

a free market is defined by multiple marketeers offering prodcuts at competitive prices that would be dictated by that very system.

when 5 vendors hold all the supplies that is not a free market. when it is a commodity everyone HAS to have that is a public ulitity.

the 5 major oil companies posted 8 billion in profits during their last quater. key word here is profit!

time to break them up under the anti trust laws!

606 - what do you do then when it's a public utility and it's got a capped margin and no incentive to meet increasing demand? If there is behavior that looks like collusion or anti-competitive behavior, then I would say you have a basis for anti-trust. At this point, it looks like nothing more than a pinch in supply and a corresponding nation-wide run on gas stations that caused commodities traders to pay ridiculous amounts on contracts.

Once you start managing things through "programs" or government action, be careful what you wish for. There's no reason to think that with the enormous demand that exists, that smaller and less efficient companies would do any better.

Besides, what amount of revenue was that 8 billion dollars of profit based on. Is that a margin that you'd accept as an individual on an investment? Probably not.

Share this post


Link to post
Share on other sites

tommyw - re>>but i follow advice my grandad used to say "dont mess with things you dont know about"<<

Smart advice - but it looks to me like you meb'be just did, i.e. "crooked greedy oil companys"?????

best, randy

Share this post


Link to post
Share on other sites