$100/barrel oil on the horizon

[deere755]

Gas here went down 12 cents the day before Thanksgiving. Is gas going to continue to go down or is this just a teaser. I was told that gas would be 3.609 by Thanksgiving instead it was 3.069 down from 3.189. I am not complaining I was just wondering if this is going to be a trend or is it going to rise some more.

 

[Rara Avis]

Gas here went down 12 cents the day before Thanksgiving. Is gas going to continue to go down or is this just a teaser. I was told that gas would be 3.609 by Thanksgiving instead it was 3.069 down from 3.189. I am not complaining I was just wondering if this is going to be a trend or is it going to rise some more.

Go to this site and you can get all of the prices that have been reported...

GasBuddy.com - Find Low Gas Prices in the USA and Canada

 

[Diamondpilot]

As many of the readers may know I am a Ford Guy and currently have 4 Ford Trucks. They are a 97 PS 7.3L F250 4x4, a 04 PS 6.0L F250 4x4, a 06 PS 6.0L F350 4x4, and my new toy, a 2007 F150 5.3L gasser 4x4. Anyway fuel here in this area is $2.83 for gas and 3.49 for diesel. I now have 8,000 plus miles on the little F150 and it has averaged 15.5 mpg which is mainly to work, the grocery store, and stuff like that. Probably less than 400 miles on the highway. It is used from time to time to pull my small boat, around 7,000#, and tractor and trailer also around 7,000#. Well a new station here in town has offered E85 for $2.02 a gallon and they claim it will be that price through the summer. I filled up with it yesterday and I will report the change in MPG. I cant tell any difference in performance. I have read I should expect 15% less economy in my F150 Flex Fuel but we will see.

Chris

 

[js5020]

There are a few sayings in the "markets", one is buy high and sell higher, and the other is cut your losses quick. I guess we know which one is in effect at the moment. It's the big money pushing this up and of course there are those who were invited to board the train.

 

[jim_n_nh]

Well, here I go again... a thread killer...... I built an extremely energy efficient house seven years ago, in April I bought a 2006 honda civic (bank repo) and my wife and myself grow about 30% of our own food. While everyone cannot do that alot of people can make changes in how they live that will effect alot of people.

When I lived on a 1/4 acre I had a garden, I bought cordwood to heat with. Everyone to some extent can make changes that will slowly turn the world around.

While I have followed this path for quite awhile a major confirmation happened a few months ago. A news reporter interviewed a serviceman in Iraq. When asked if he thought America supported him his response was "Alot of people put the golden ribbon ""I support the troops"" on the back of their SUV".

Maybe the next car you buy should get 30+ mpg, instead of going out to eat for a couple of weeks, buy some more insulation for your home. Instead of driving the 2 miles to the gym, walk, save gas and loose a few pounds... Get to meet the person living next door instead of just waving to them.

 

[js5020]

Supply and demand does work,,,,,,,,,until the speculators show up. I don't trade oil, I'll make that clear but I do watch its price and it's headed UP so why would I start sellin contracts and start loosin my butt? Nope I would be buyin and makin$$$$$$$$. Always trade with the trend!! ya make more money that way. Greed and Fear, they know we'll use it so greed is in effect, until fear of losing money on high priced contracts sets in, then the crash, they won't be able to sell fast enough.

 

[BobRip]

Supply and demand does work,,,,,,,,,until the speculators show up. I don't trade oil, I'll make that clear but I do watch its price and it's headed UP so why would I start sellin contracts and start loosin my butt? Nope I would be buyin and makin$$$$$$$$. Always trade with the trend!! ya make more money that way. Greed and Fear, they know we'll use it so greed is in effect, until fear of losing money on high priced contracts sets in, then the crash, they won't be able to sell fast enough.

Yes, our system is setup to encourage changes in prices. If the prices were stable, then people would not buy and sell much stock. Future speculation would have no value. The stock brokers would not make money. I feel they have set up a system than is volatile so that they will make more money. I don't know if there is a better way. In engineering we call this a system with positive feedback. Higher prices make the price go up, until it can't go higher. Then it goes lower. Positive feedback is an unstable way to control anything and must be used very carefully. Some government controls have helped and it is not as bad as it was in the 19th and early 20th century. Of course many traders loose it all and risk taking does drive innovation. Not a perfect systems but pretty good.

 

[js5020]

Agreed, it's the only system we got and it has it's down falls. I have heard $70 a barrel in 2008, but like I said I don't trade it. Maybe they will run it down with as much enthusiasim? And the oil companies will cut prices? Afterall I believe most reported record profits.

 

[LarryRB]

I blame a big part on speculation. Someone sneezes and the prices go crazy. IF the speculation would level out, prices would probably follow

 

[MikePA]

Unfortunately, some people can not resist bringing politics into this thread. Those posts have been pruned.