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Fill up now! Gas will go up another dollar!

  • GoChiefs
    Seems like they use any excuse they can to raise prices..so I'm calling it now. :D

    http://news.yahoo.com/s/ap/piracy
  • OneBuckeye
    http://online.wsj.com/article/BT-CO-20091130-707850.html

    OIL FUTURES: Crude Up On Weaker Dollar, Higher Stock Markets

    NEW YORK (Dow Jones)--Crude futures are higher Monday on a weaker dollar and rising equities, overturning earlier losses as concerns ease over the Dubai World debt crisis.

    Light, sweet crude for January delivery recently traded 32 cents, or 0.4%, higher at $76.37 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange traded 36 cents, or 0.5%, higher at $77.54 a barrel.

    The dollar weakened against the euro, most recently trading above the pivotal $1.50 a barrel level at $1.5028. Oil tends to rise on a weaker dollar as this makes the price of the dollar-denominated commodity cheaper to other currency holders.

    "We seem to be focusing on the dollar again," said Phill Flynn, analyst with PFG Best in Chicago, noting the oil market's tendency to react to dollar movements in the absence of any fundamental news.

    Equity markets in the U.S. were also marginally higher on their open, offering some support to oil prices, with the Dow Jones Industrial Average recently trading up 32 points at 10342.

    Oil market participants have been using positive economic data and rising stock markets as a representative for oil demand growth, anticipating that a global economic upturn will bolster oil consumption.

    Lingering concerns about the effect the Dubai debt crisis had led oil prices to fall earlier in the session.
  • LJ
    Nah. Nothing is going to push Oil above 80 until jobs improve or the dollar completely collapses.
  • RedRider1
    Where did I read something that says the price of oil is very high compared to the overall state of the economy? Wasn't it down in the $40-$50/bbl range last winter?
  • GoChiefs
    LJ wrote: Nah. Nothing is going to push Oil above 80 until jobs improve or the dollar completely collapses.
    I'm not gonna take your word for it just b/c you work at a gas station!!! :D
  • visionquest
    This isn't as bad as the report I read about 5 days ago about 40 oil tankers docked off the coast around the UK waiting so that they do not unload until oil prices go up. Talk about piracy. The report said that some of those tankers had been waiting at sea for over a month waiting for oil prices to go up to maximize profits.
  • LJ
    visionquest wrote: This isn't as bad as the report I read about 5 days ago about 40 oil tankers docked off the coast around the UK waiting so that they do not unload until oil prices go up. Talk about piracy. The report said that some of those tankers had been waiting at sea for over a month waiting for oil prices to go up to maximize profits.
    That's no different than usual. Normal waits are around 56 days.

    It's all sensationalism by the media. Honestly.
  • GoChiefs
    LJ wrote: It's all sensationalism by the media. Honestly.
    Can't argue with that!
  • Jawbreaker
    I'm glad to see the FreeHuddle has a gas thread just like the old huddle.
  • Mr. 300
    Damn that Obama and his big oil cronies!!!!
  • Fab1b
    Oil is a straight damn scam!!
  • LJ
    Fab1b wrote: Oil is a straight damn scam!!
    I don't appreciate you calling my business a scam. It's very hard being the assistant to the assistant manager at the Citgo.
  • Little Danny
    Mr. 300 wrote: Damn that Obama and his big oil cronies!!!!
    Not to provide fodder to move this to the political thread, but everytime the gas prices went up .1 last year everyone was blaming Bush and his ties to the oil industry. What is the excuse now and why aren't dems calling for Barry's head?
  • Fab1b
    LJ wrote:
    Fab1b wrote: Oil is a straight damn scam!!
    I don't appreciate you calling my business a scam. It's very hard being the assistant to the assistant manager at the Citgo.
    Didn't mean to offend :)
  • Fab1b
    Little Danny wrote:
    Mr. 300 wrote: Damn that Obama and his big oil cronies!!!!
    Not to provide fodder to move this to the political thread, but everytime the gas prices went up .1 last year everyone was blaming Bush and his ties to the oil industry. What is the excuse now and why aren't dems calling for Barry's head?
    The same reason they blamed Bush for the mess Clinton got us into!
  • darbypitcher22
    Well might as well just wait for the dollar to collapse then.
  • LJ
    It's ridiculous to blame any of the pricing on the gov't.
  • newarkcatholicfan
    Oil near $76 as demand fears trump weaker dollar

    Oil prices fell a penny to $76.04 a barrel after falling earlier Monday on the New York Mercantile Exchange.

    Prices at the pump were $2.629 a gallon on Monday, 80.4 cents more a gallon than a year ago, according to auto club AAA, Wright Express and Oil Price Information Services. That is about $40 more a month for a typical motorist.


    http://finance.yahoo.com/news/Gas-prices-80-cents-above-apf-3418004076.html?x=0
  • Fab1b
    LJ wrote: It's ridiculous to blame any of the pricing on the gov't.
    Look I totally agree with that 100% when it comes to gas/oil. However the Dems and Liberals surely place the blame right on the shoulders of the Bush admin. whenever the opportunity arrises!
  • Sonofanump
    LJ wrote: It's ridiculous to blame any of the pricing on the gov't.
    You mean except for the $.46.4 tax on every gallon.
  • LJ
    Fab1b wrote:
    LJ wrote: It's ridiculous to blame any of the pricing on the gov't.
    Look I totally agree with that 100% when it comes to gas/oil. However the Dems ame Liberals surely place the blame right on the shoulders of the Bush admin. whenever the opportunity arrises!
    It goes along with the sensationalism of the media claiming that oil is too high etc. They are always going to blame somebody because the masses don't understand how things work. They think that politicians own massive amounts of interests in oil companies, then tell the oil companies to raise their prices whenever they want to make a profit.

    The only control the oil companies have over the price is when it is being pumped into your car, and even then the oil company is only getting that money when they own the station.
  • LJ
    Sonofanump wrote:
    LJ wrote: It's ridiculous to blame any of the pricing on the gov't.
    You mean except for the $.46.4 tax on every gallon.
    Then you could blame the gov't for the price of your tv, or the price of your car. In Ohio, everything except food has a consumption tax. Point is moot.
  • cbus4life
    Screw taxes. Roads are overrated, anyways.
  • OneBuckeye
    ccrunner609 wrote: Why dont they just arm the oil tankers and shoot the pirates before they ever get on board?
    They don't want the pirates to fire a RPG at an oil tanker I would think.
  • MrMcCluskie
    I doubt that gas gets over 3 bucks. The Arabs know that they will be doomed if that happens. The push for alternatives will pick up even more speed.