Price Of Oil Skyrocketing Again
Duramax Virgin
Joined: Dec 2007
Posts: 2,221
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From: Ponca City, OK
Chavez is an idiot -- and that is the very reason ConocoPhillips got out when he started taking over everything...
Chavez cant hold them hostage with not providing oil/etc while they try to recoup what they are owed...
Chavez cant hold them hostage with not providing oil/etc while they try to recoup what they are owed...
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From: Why-homing
Oil breaks $100 on looming production cuts - Feb. 19, 2008
oil breaks 100.....sets new all time high
oil breaks 100.....sets new all time high
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From: Why-homing
the 100 buck a barrel has been broke and I dont think it will ever be below that again
Crude futures hit an all-time high above $102 a barrel Thursday in the U.S. as oil traders reacted to reports of supply disruptions and the continuing decline of the dollar.
The April West Texas Intermediate crude contract jumped $2.79 to $102.43 a barrel on the New York Mercantile Exchange. Reformulated gasoline gained 2 cents to $2.50 a gallon, and heating oil rose 7 cents to $2.84 a gallon. Natural gas added 41 cents to $9.47 per million British thermal units.
Crude futures hit an all-time high above $102 a barrel Thursday in the U.S. as oil traders reacted to reports of supply disruptions and the continuing decline of the dollar.
The April West Texas Intermediate crude contract jumped $2.79 to $102.43 a barrel on the New York Mercantile Exchange. Reformulated gasoline gained 2 cents to $2.50 a gallon, and heating oil rose 7 cents to $2.84 a gallon. Natural gas added 41 cents to $9.47 per million British thermal units.
Diesel Fan
Joined: Feb 2008
Posts: 66
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From: central valley ca
I'm sorry to say but the reason fuel prices are going up at the rate they are is because of it being put on the open market as a commodity when people who have nothing to do with the fuel in california are buying and selling futures that is a bad thing for the people who are purchasing it it take away the supply and demand from the end users, and puts it into stock brokers hands. god help us if it gets to the global market, because then we'll have people in china buying and selling and affecting our fuel prices here
---AutoMerged DoublePost---
oops went back and got to reading more of the pages and don't want to start any arguments my bad
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oops went back and got to reading more of the pages and don't want to start any arguments my bad
Last edited by ole red; Feb 28, 2008 at 04:42 PM. Reason: Automerged Doublepost
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From: Why-homing
something I find interesting is that we continue to use more and more fuel compared to the same month last year
I bet not many people do unecessary travlin now days so this would simply mean more travel for bisness related stuff
I bet not many people do unecessary travlin now days so this would simply mean more travel for bisness related stuff
I read a few days back that fuel usage had dropped 1.1%, that our gas inventory had climbed to a 14 year high and crude oil had also climbed higher then forecast by a few million barrels. So why is it still going up?
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From: Why-homing
Jim Cramer is very seldom wrong and he is predicting 125 $$$$$$$ oil
hang on to yer wallet I bet diesel will hit 5 bucks at that rate
check out Cramers video
TheStreet.com : Video
hang on to yer wallet I bet diesel will hit 5 bucks at that rate
check out Cramers video
TheStreet.com : Video
Diesel Wrench
Joined: Mar 2007
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From: West Lafayette, IN -
A big factor is the value of the dollar. Since oil is priced in US dollars world wide countries buying with stronger currencies can afford to buy more and thus drives up the price.
