Aces High Bulletin Board
General Forums => The O' Club => Topic started by: Sixpence on October 10, 2008, 09:42:39 AM
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Dropped under $80 a barrel today, $2.97 a gallon down the street. :rock
Was wondering, would this be a bargain time to buy stock in oil, or is it going to drop alot more?
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Dropped under $80 a barrel today, $2.97 a gallon down the street. :rock
Was wondering, would this be a bargain time to buy stock in oil, or is it going to drop alot more?
south jersey......cherry hill $2.89. somerdale $2.79 :D
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Wait till opec drops production say ..... next week?
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You guys are lucky. Just paid $3.35 this morning to fill my tank.
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Last night I noticed $2.88 a gallon at nearby station.
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You guys are lucky. Just paid $3.35 this morning to fill my tank.
you're in a big city though?
right across the brider in philly it's in the $3.40's........
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$2.79 in Augusta, Kansas
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paid $3.19 or so yesterday up here in the boonies...
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you're in a big city though?
right across the brider in philly it's in the $3.40's........
Halfway between Tampa and Orlando. Might as well just start calling it Orlampa.
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In Austin it varied from south to north, I saw $3.29, 3.25, 3.19, 2.97, 3.09
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Halfway between Tampa and Orlando. Might as well just start calling it Orlampa.
that explains that......my brother lives in orlando(?) or kissimmee....about 10 minutes from kissimmee gateway airport.
how's 100LL down there? ooo.....and i can assume you've been to fantasy of flight too?
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Milwaukee, WI $3.39/gal regular $3.59/gal premium last night
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I live 50 miles from Shreveport, LA and heard on the radio that the cheapest gas there was $3.05, but that in Corpus Christi, TX it was $2.90. Funny thing is its $2.91 here in Springhill at Walmart.
I just don't get it. All the Walmarts get thier gas from the same place and its not below $3.00 at the ones in Shreveport?
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that explains that......my brother lives in orlando(?) or kissimmee....about 10 minutes from kissimmee gateway airport.
how's 100LL down there? ooo.....and i can assume you've been to fantasy of flight too?
100LL is about $5.75 a gallon and JetA is around $6.40 a gallon. Had three F-18s come ot the FBO next door last week and put in 2000 gallons each into the tanks. Was a nice day for those guys.
Have been ot Fantasy of Flight. Great museum. One of the best. Interesting note if you go on the backlot tour. He has enough parts to completely rebuild 2 B-29s. Wish I was that guys kid. :D
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$77.99 a barrel, got a quote of $2.80 gallon for home heating oil :rock
Paid $2.90 gallon for a hundred gallons two days ago :furious
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Better get it while its cheap. OPEC is having an emergency meeting in November.
Its been said that they will cut production to increase prices.
The oil companys will never give anyone a break. Thieves
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Milwaukee, WI $3.39/gal regular $3.59/gal premium last night
$2.99 last night dude. First saw it on HWY 100 and Oklahoma, then on the north side somewhere.
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Don't you all find it intresting that this past summer, oil got as high as $147.00 due to supply and demand. Now we are seeing it below $78.00. What is OPEC up to? :noid
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Wait till opec drops production say ..... next week?
Think Opec had a meeting today to reduce production. Quite a roller coaster year, we've gone from oil hitting a hight of over $150 a barrel and now the biggest economic disaster since the great depression. Untill some confidence is restored in the bank credit system,markets and house prices. I wouldn't be jumping in to buy anything.
For US markets even the seen to be safe haven of defence companies would be risky.
<S>...-Gixer
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I love OPEC.
They claim the skyrocketing gas and oil prices were due to the weak US dollar and production is costing them more money. And yet they've posted record PROFITS (by percentage, not in dollars) as gas prices have climbed.
Maybe it's just me, but I would think that if prices have jumped because it costs THEM more money to produce, then their profit in dollars would have followed the same curve and the percentage would have stayed the same.
:noid :noid :noid
Now they're doing anything they can to maintain their income. :p
Then again, I guess they're feeling the pinch too seeing as how it costs so much more now to fuel their private jets and luxury cars, and heat their billion-dollar palaces.
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Better get it while its cheap. OPEC is having an emergency meeting in November.
Its been said that they will cut production to increase prices.
The oil companys will never give anyone a break. Thieves
OPEC is not the oil companies. The oil companies simply buy the oil from them so they don't have much to do with the price of a barrel of oil.
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"Was wondering, would this be a bargain time to buy stock in oil, or is it going to drop alot more?"
How do you buy stock in oil? Or were you referring to oil company stock?
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got an e-mail from a freind, 2.47 down south west Texas way
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The price drop just proves that the price was inflated by predictions that demand would keep increasing, keeping *future* prices climbing as buyers were forced to bid for an uncertain supply. But as soon as the first signs of global economic slowdown hit, prices dropped over 30% (from 150ish to around 100), and continued to drop as the economic crisis was confirmed. Has *actual* current demand dropped 50%? Heck no. But an economic slowdown means that future demand is not expected to climb beyond supply increases, resulting in the price of oil plummeting to a more realistic balance between *current* supply and demand.
CNN.com has a few articles up right now discussing this. There is some speculation that there is a balance point around $70, but a strengthening dollar and the potential for both continued economic depression and increased US oil production capability (not actual increased production, but the potential for increased production) could drive oil prices below $20 in a worst-case situation.
Why is this worst case? CNN points out that the budgets of several major oil countries have budgets that rely on the price of oil remaining high - as high as $95/bbl in some countries with hard to get oil and few other economic products. Those countries will be hit hard, and that's why OPEC is seriously talking about cutting production. The thing is, the price was supported by speculation on future demand just as much as on actual demand, so cutting oil to support continued concern about oil supply will only encourage other nations to look for other energy sources. The US is already on it's way to reducing vulnerability to foreign oil production levels. We'll probably always need energy from other countries, but the price fluctuations from supply/demand uncertainty should decrease with every single additional oil field we open, every refinery we open, and every increase in cost-competitive alternate energy production.
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CNN.com has a few articles up right now discussing this.
http://money.cnn.com/2008/10/10/news/economy/oil_prices/index.htm
"I'm not going to rule out some extraordinarily low numbers, even $20 a barrel," he said, acknowledging that five months ago many respectable analysts though we'd never go below $100. "Whatever the market does, it's going to make us all look like fools."
Deutsche Bank compared oil prices to several other measures, and came to the conclusion that "crude oil is the most richly priced commodity currently."
Compared to crude's historic price average of $35 a barrel, it's currently 100% higher, higher than any other commodity. The next highest is gold, at 56%. Many other metals are only 20 to 30% higher
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$2.99 last night dude. First saw it on HWY 100 and Oklahoma, then on the north side somewhere.
G-town, north side, still $3.29 regular as of last night.
:(
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$2.63 in Augusta, KS
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$2.69 at Quicktrip down the road. Tulsa, Ok.
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$2.69 at Quicktrip down the road. Tulsa, Ok.
Where in Tulsa?
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Heating oil in the $3.50 range
Unleaded regular is $2.97 :)
Bangor, Maine
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Until my neighbor gets a locking gas cap, I get it for free. :aok
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finally down to $3.09 my neck of the woods
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I think the lower oil prices will really help this winter... People are going to be hurting for $$$ and cutting even 20-25% off oil/gas prices will help a lot.
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I filled up yesterday at $2.78, never thought I would be thrilled with that.
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Still 3.30 in Vegas.... :mad:
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Until my neighbor gets a locking gas cap, I get it for free. :aok
:rofl
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Any bets on if we get back down under $2.00/gal?
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Any bets on if we get back down under $2.00/gal?
Is that you're alarm clock I hear?? :rofl
I wish, would certainly help with my commute!
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What a difference a decade makes. In 1998 I was paying about $0.70-0.80/gal tops in St. Louis.
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What a difference a decade makes. In 1998 I was paying about $0.70-0.80/gal tops in St. Louis.
I remember that, lowest I could recall paying was like $0.78 in Northern IL.
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Any bets on if we get back down under $2.00/gal?
Before the end of 2008, NO. maybe 2009 but all depends if the pigs feel they are broke and need to raise it again to rich.
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Pfft, $3.00 a gallon?
Try SIX dollars a gallon and then we'll talk. You Yanks don't have anything to complain about with fuel costs.
I drive a car that averages 11 miles per gallon and pay at least $6 a gallon to fill it up and you won't hear me complaining about fuel costs. If you want to drive, that's the price. Deal with it or walk you big cry babies. :lol
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Yea, but you are forgetting something. We yanks had have the price under $2.00 for a long time. Once we hit over $2.00, we didn't know what to do. Then $3.00 came and we panic. At a short time, $4.00 and we thought that we will not survived with the cost and all hell was about broke out.
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Where in Tulsa?
I live in Broken Arrow but I saw that price at QT on 61st just east of 169.
I'm down in Morris tonight and its 2.79.
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Pfft, $3.00 a gallon?
Try SIX dollars a gallon and then we'll talk. You Yanks don't have anything to complain about with fuel costs.
I drive a car that averages 11 miles per gallon and pay at least $6 a gallon to fill it up and you won't hear me complaining about fuel costs. If you want to drive, that's the price. Deal with it or walk you big cry babies. :lol
Yes,. But isnt much of the price of a gallon of gas there due to taxes?
Also where does your dollar rate in comparison to ours?
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thread about oil or the price of gas?
once the barrel price gets low enough, Russia and her new found friends will correct the correction
how long do you think she'll keep her stock market closed?
it is the other shoe that will drop and it will drop soon ........ my guess is they are waiting until after 11/4 as they'd rather see obamaman win than John
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The price of fuel has more than doubled in the last 10 years here and has gone up by 60c a litre in the last 4 years alone.
Yes,. But isnt much of the price of a gallon of gas there due to taxes?
Also where does your dollar rate in comparison to ours?
IIRC our fuel excise could save up to 50c a litre if it was removed entirely but there has been a lot talk about this between our two major government parties but I'm not sure this is realistic. We would still pay for it in other areas anyway, fuel would just be cheaper as other costs went up. If you want to see tax, take a look at our liquor industry. THAT'S unabashed taxation. :lol Every yank I get into my store is shocked that we pay $13 for a 6 pack of crappy local, mass-produced beer. The beer I drink costs upward of $4 a bottle. :lol
I was paying up to $1.74 a litre for my fuel when our currency was at $0.98 AUD to the USD. We were so close to parity and still the price was the highest it had ever been.
The AUD is now worth something like $0.74 USD and fuel was at $1.47 per litre for 91 RON, which is rubbish never goes in my car. 98 RON is generally 10 to 15 cents more expensive per litre, so the current price would have to be close to $1.60 a litre which is $6 a gallon for me to fill up.
I'm not really trying to give you guys a hard time (well, maybe a little bit ;) ), I'm just offering a little bit of perspective. You have cheap beer, cheap spirits and cheap fuel, even when it's $4 a gallon, so just chill out a bit, stop buying so many bloody guns :lol and keep on truckin'
:aok
....and for the love of god, stop frigging buying watermelon like the Prius and Smart cars. If you guys keep carrying on with this crap no one will make real cars in 10 years! :rofl
(I think there are enough smilies in this post to negate the need for any serious response to my quip about guns and gay cars :) .)
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(I think there are enough smilies in this post to negate the need for any serious response to my quip about guns and gay cars .)
Was about to say, don't get lazs started. :rofl
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I live in Broken Arrow but I saw that price at QT on 61st just east of 169.
I'm down in Morris tonight and its 2.79.
OK, i know that QT. My parents once lived in Broken Arrow between 81st and 91st street off 129th east. I know there is a QT on the corner of 81st and 129th.