#187772 - 06/11/10 11:43 AM
No more oil shortages?
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flicka
Member
Registered: 04/06/00
Posts: 24616
Loc: SLO County, CA - 66.122.77.142
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Every year since the 70s, I've watched the price of crude spike at the thought of a hurricane, or renewed fighting in the middle east. Every three-day weekend I remember sent the price of gasoline soaring. Summer always made gas move up, because consumption would be so large, we'd have trouble keeping plenty of gas on hand for vacationers.
So what is going on now? BP is bleeding oil into the gulf faster than a small state can burn it, but no hint of higher gas prices? Instead of seeing gas prices rise before Memorial Day weekend, they actually dropped slightly.
So what's the deal?
_________________________
"A lot of things were acceptable--until we stopped accepting it." -- Al Sharpton '12
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#187773 - 06/11/10 12:30 PM
Re: No more oil shortages?
[Re: flicka]
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Paulwa_dup1
Member
Registered: 02/12/05
Posts: 4951
Loc: Washington
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Guess they are waiting to see if BP goes broke or we might be so mad we won't pay any higher gas prices.
We went down to Jr's Economart to buy $20 worth of gas on our Vsacard a week or so ago andMilliewent inside to prepay with our card.Well the gal was having trouble with the cash regster screwing up and we waited for several minutes while she fddled with it and finally Mllie told her to cancel the charge toour card and we would go elsewhere for our gas. Well she fiddled with the card and finally said she had cancelled the charge. Weleft and went up to 7-11 and bought $30 worth of gas on the card. A couple of days later I was looking at our account on the computer and there were two $20gas charges for Jr's Econo on that day. $40 charge and no gas. I went down the next day complaning to the guy there with a print out of the account and he took all the info and tried to call the gal to verfy but couldn't getthrough to her (she was probably texting, he said) so said he would get back to us. Another day no communication so I went back down and the gal was there and complained to her. She saiid the owner was in India and they couldn't reach him.I said I don't care I wantmy $40 backl cause i didn't get any gas for my money. She said well themachine said it had cancelled the original $20 and that she couldn't see how I ddn't get any gas. Mllie went in and talked to herand she saiid no I didn't get gas but that someone would call us the next day. They don't have a phone number in the book so have to go down to talk to them.Well we didn't hear back from anyone so I called WellsFargo and got the fraud divison on their tail. gonna take about 90 days but they say they will pretty for sure be able togetour money back. We'll see. $70 spent that day and only got $30 worth of gas. From now on we pay cash for gas!
Paul :-(
Edited by Paulwa_dup1 (06/11/10 12:34 PM)
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#187774 - 06/11/10 12:32 PM
Re: No more oil shortages?
[Re: flicka]
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Greg
Member
Registered: 08/20/05
Posts: 10000
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But is it affecting supply? Not really.
Oil prices are controlled by people like ME who buy and sell oil futures and the BP spill is way down on the list of factors affecting crude price. Earlier this spring when crude was topping $85 and the economy (vis a vis demand) looked good the future price of oil rose. But as rumors of less demand from China and a possible crisis from a contagon effect from europeon credit crisis, prices fell quickly back to below $70. Now as economies and China posting some good numbers recently and barring any new big crisis (ex. an Iranian conflict) the price is making it's way back up, to I would guess, the low $80 (at least it better since I am no longer leveraged short :)).
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#187775 - 06/11/10 12:40 PM
Re: No more oil shortages?
[Re: Greg]
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Paulwa_dup1
Member
Registered: 02/12/05
Posts: 4951
Loc: Washington
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They say it is those jerks (oil futures) who are helping too screw up our oil prices. I wouldn't be too proud!
Paul
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#187776 - 06/11/10 12:49 PM
Re: No more oil shortages?
[Re: Greg]
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flicka
Member
Registered: 04/06/00
Posts: 24616
Loc: SLO County, CA - 66.122.77.142
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Oil prices are controlled by people like ME
I laugh. Go on believing that if you must, but people like you have no control.
_________________________
"A lot of things were acceptable--until we stopped accepting it." -- Al Sharpton '12
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#187777 - 06/11/10 01:06 PM
Re: No more oil shortages?
[Re: flicka]
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Greg
Member
Registered: 08/20/05
Posts: 10000
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Like I care, the importent thing is I'm making money and the present risk/reward is better generally then buying stocks.
LOL @ Flicka. I just read the tea leaves, invest as I see things evolving and if I am correct reap the reward.
Paul, before I understood futures I used to share your small minded attitude. But by investing, I add liquidity to the free market economy. Liquidity is the grease that keeps things moving. Alot of what went on with the latest Flash Crash was due to a lack of liquidity. So keep your money under your matress and your guns ready. I prefer to be a contributing member to the economy.
Edited by Greg (06/11/10 01:07 PM)
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#187778 - 06/11/10 01:48 PM
Re: No more oil shortages?
[Re: Greg]
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Paulwa_dup1
Member
Registered: 02/12/05
Posts: 4951
Loc: Washington
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Itis pretty hard to stand in liquidity pretty soon it goes up pastyour nose and you drown!
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#187779 - 06/11/10 01:58 PM
Re: No more oil shortages?
[Re: Paulwa_dup1]
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Greg
Member
Registered: 08/20/05
Posts: 10000
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once again Paul I don't understand your point
were you trying to be amusing by a reference to liquid?
liquidity wrt investments is a good thing
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#187780 - 06/11/10 02:18 PM
Re: No more oil shortages?
[Re: Greg]
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flicka
Member
Registered: 04/06/00
Posts: 24616
Loc: SLO County, CA - 66.122.77.142
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LOL @ Flicka. I just read the tea leaves, invest as I see things evolving and if I am correct reap the reward.
I know. It's a good thing. Just remember the tea growers can make those leaves look anyway they want...
_________________________
"A lot of things were acceptable--until we stopped accepting it." -- Al Sharpton '12
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#187781 - 06/11/10 02:42 PM
Re: No more oil shortages?
[Re: flicka]
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Greg
Member
Registered: 08/20/05
Posts: 10000
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LOL @ Flicka. I just read the tea leaves, invest as I see things evolving and if I am correct reap the reward. I know. It's a good thing. Just remember the tea growers can make those leaves look anyway they want...
yea right, "they" have complete control over the market
and if one boob in a gas station screws up for $20, take the company to court. LOL
is there manipulation? sure, does the average investor know the whole story? most definetly not, do a few control the system? nope
but if you don't try and get cute, pay attention to macro trends (i.e. the big picture) and keep revaluating a sound investment strategy can you make money? yep
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#187785 - 06/11/10 04:00 PM
Re: No more oil shortages?
[Re: Greg]
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Paul I
Member
Registered: 02/24/00
Posts: 7913
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I spent a social evening last year with a group of my lady's
relatives. One was the just retired president of BP America. I asked him about the variation in price and he said simple supply and demand. Yeah, sure. Shortly after came the info about
oil futures traders manipulating the price. I asked why diesel
cars were so popular in Europe and not here. He said he didn't now. I couldn't figure out how I knew.
This present guy from BP is spinning a new direction every day. He must have an aide just to tell him what today's spin is. So who really knows what is happening? Maybe that pipe at 5000 ft is really in a studio like where they made the flight to the moon.
Edited by Paul I (06/11/10 04:02 PM)
_________________________
"...only the shadow knows"
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#187786 - 06/11/10 04:20 PM
Re: No more oil shortages?
[Re: Paul I]
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Paulwa_dup1
Member
Registered: 02/12/05
Posts: 4951
Loc: Washington
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Would be easy to fake but proof is floating up all over the place!
Paul
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#187788 - 06/11/10 05:46 PM
Re: No more oil shortages?
[Re: Paulwa_dup1]
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Greg
Member
Registered: 08/20/05
Posts: 10000
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If you don't know, go for the conspiracy theory and it you're real desperate just say it is all part of god's big plan.
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#187789 - 06/11/10 06:03 PM
Re: No more oil shortages?
[Re: Greg]
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Paulwa_dup1
Member
Registered: 02/12/05
Posts: 4951
Loc: Washington
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It all falls under God's big plan, even you too Greg...We just don't understand all the pieces nor where they fit. So you goon buying into your liquidity in the market and we'll see where we all wind up.:-)
Paul
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#187809 - 06/12/10 01:55 PM
Re: No more oil shortages? *DELETED*
[Re: Paulwa_dup1]
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Greg
Member
Registered: 08/20/05
Posts: 10000
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Post deleted by Greg
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#187810 - 06/12/10 02:05 PM
Re: No more oil shortages?
[Re: Greg]
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Greg
Member
Registered: 08/20/05
Posts: 10000
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Oh and BTW, God told me to go long next week, so I will be putting some new money to work. Lets see if God is coming through for me.
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#187812 - 06/12/10 02:50 PM
Re: No more oil shortages?
[Re: Greg]
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Paulwa_dup1
Member
Registered: 02/12/05
Posts: 4951
Loc: Washington
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Lay up your treasures in heaven where thieves do not break in and steal nor moths and rust corrupt.
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#187814 - 06/12/10 03:37 PM
Re: No more oil shortages?
[Re: Paulwa_dup1]
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Paul I
Member
Registered: 02/24/00
Posts: 7913
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Very frequently conspiracy theories involving the US govt., big business, the financial industry or any combination thereof prove to be correct. Then man fault with that is overestimating the honesty of those involved and underestimating the depth of the conspiracy.
Obviously, we have few diesel autos in the US because it is the manfacturerer's choice. The question is why? The engines exist
already.
_________________________
"...only the shadow knows"
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#187817 - 06/12/10 04:01 PM
Re: No more oil shortages?
[Re: Paulwa_dup1]
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Greg
Member
Registered: 08/20/05
Posts: 10000
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Lay up your treasures in heaven where thieves do not break in and steal nor moths and rust corrupt.
And just what do YOU plan on doing with the proceeds if you sell your acre?
Do as I say, not as I do right? I know who you remind me of now, Jimmy Swaggart
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#187818 - 06/12/10 04:13 PM
Re: No more oil shortages?
[Re: Greg]
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Paulwa_dup1
Member
Registered: 02/12/05
Posts: 4951
Loc: Washington
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First a ten percent tithe to the church and then use it to further the family. Jimmy Swaggart??? Not hardly! What you gonna do with your proceeds, Mr.BP?
Paul
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#187950 - 06/16/10 08:35 AM
Re: No more oil shortages?
[Re: Paulwa_dup1]
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cbal-craig
Member
Registered: 04/06/00
Posts: 17675
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It all falls under God's big plan, even you too Greg...We just don't understand all the pieces nor where they fit. So you goon buying into your liquidity in the market and we'll see where we all wind up.:-)
Paul
Did you know you sound crazy Paulwa ?
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#187988 - 06/16/10 06:39 PM
Re: No more oil shortages?
[Re: cbal-craig]
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Paulwa_dup1
Member
Registered: 02/12/05
Posts: 4951
Loc: Washington
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Craig I may sound crazy but you will find out in time that I am dead on in much of these statements. We'll wait and see. :-)
Paul
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#187993 - 06/16/10 08:35 PM
Re: No more oil shortages?
[Re: Paulwa_dup1]
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shakey56
Member
Registered: 03/31/04
Posts: 1889
Loc: where the wild roadrunners roa...
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Paul, chances are very good you are dead wrong. No need to wait 
_________________________
Against logic there is no armor like ignorance.
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#188004 - 06/17/10 11:57 AM
Re: No more oil shortages?
[Re: shakey56]
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Paulwa_dup1
Member
Registered: 02/12/05
Posts: 4951
Loc: Washington
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Shakey you will see, but don't let that spoil your day!:-)
Paul
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#188016 - 06/17/10 03:05 PM
Re: No more oil shortages?
[Re: Paulwa_dup1]
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shakey56
Member
Registered: 03/31/04
Posts: 1889
Loc: where the wild roadrunners roa...
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As will you, and I wish you the same..
_________________________
Against logic there is no armor like ignorance.
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#188026 - 06/17/10 06:11 PM
Re: No more oil shortages?
[Re: shakey56]
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Greg
Member
Registered: 08/20/05
Posts: 10000
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Jeremiah 31:30-33
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#188155 - 06/22/10 12:01 PM
Re: No more oil shortages?
[Re: Greg]
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Paulwa_dup1
Member
Registered: 02/12/05
Posts: 4951
Loc: Washington
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Glad to sere y'all are reading the bible and know a few scriptures anyway, even though they may be somewhat obtuse and maybe not so relevant to the soul as others. No I did not check them out. Maybe they are relevant..that would be nice.:-)
Paul
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