More bad news from the oil market=Closed over $41

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cycloneye
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More bad news from the oil market=Closed over $41

#1 Postby cycloneye » Tue May 11, 2004 6:04 pm

http://news.yahoo.com/news?tmpl=story&c ... &printer=1

Oh my not good news at all as a barrel of oil is at $40.06 as it closed that way today meaning MORE HIGHER GAS PRICES FOR THE SUMMER so folks if you are seeing gas prices going up now prepare for more higher prices at the pump just in time for the traveling season at summer. :grrr:
Last edited by cycloneye on Sat May 15, 2004 6:26 am, edited 2 times in total.
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#2 Postby southerngale » Tue May 11, 2004 6:19 pm

Ugh!!!!

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#3 Postby PTrackerLA » Tue May 11, 2004 6:29 pm

Phew, and considering I drive one hell of a gas guzzler this isn't good news lol. The only good thing is that the high prices are good for the economy but of course not for the consumer.
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#4 Postby Lindaloo » Tue May 11, 2004 6:34 pm

It has been at 40. Now it has gone up 6 cents a barrel? This is ridiculous!!

UP PRODUCTION OPEC!!
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#5 Postby cycloneye » Tue May 11, 2004 6:39 pm

Lindaloo in the link you can read what the oil market people are saying about the Saudi talk of yesterday about increasing pruduction and what they say there is that it wont matter too much for the oil market now if OPEC increase production as geopolitical events are the ones guiding the markets.And also it is the first time in 13 years that a barrel of oil is over $40 closing the market in a day of trading as last week it was over $40 but fell to $39 in the close.
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#6 Postby azsnowman » Tue May 11, 2004 7:02 pm

I'm tellin ya, "IF" we could stop driving for ONE DAY, ONE SINGLE day, we could bring OPEC to their knees and the price would drop! Ya know, we have how many thousands of miles of railroad tracks in the US and they're only used for frieght? My God, in Europe, the rail system is the ONLY way to travel.

Dennis
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#7 Postby cycloneye » Tue May 11, 2004 7:09 pm

azsnowman wrote:I'm tellin ya, "IF" we could stop driving for ONE DAY, ONE SINGLE day, we could bring OPEC to their knees and the price would drop! Ya know, we have how many thousands of miles of railroad tracks in the US and they're only used for frieght? My God, in Europe, the rail system is the ONLY way to travel.

Dennis


That is a great idea Dennis.Another Idea from me is to permit cars with the number plates that terminate in 2-4-6-8 to run one day and the numbers 1-3-5-7-9 to run in another day.
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#8 Postby wx247 » Tue May 11, 2004 9:32 pm

Dennis... I hate to break it to you but it would take longer than 1 day and would not work because not everyone could do it... myself included.
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#9 Postby Amanzi » Wed May 12, 2004 8:51 am

Oh gosh!!!!!! Thats just nuts!

Dennis, Europe really has the right idea. I have many friends who live in London, and they don't even own cars. The tube's run to every street corner.
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#10 Postby vbhoutex » Wed May 12, 2004 9:11 am

WHAT WE NEED TO DO IS MAKE IT PROFITABLE FOR OUR OIL COMPANIES TO DRILL AND PRODUCE AT HOME!!!! THEN WE WOULDN'T HAVE TO WORRY ABOUT OPEC!!
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#11 Postby JQ Public » Wed May 12, 2004 10:19 am

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Price of gas at a station in Santa Barbara, Calif. Tuesday morning May 11, 2004, was $3.11 for full service, 91 octane. It was later changed to $3.13. The Utility Consumers Action Network, a San Diego-based consumer group says California should declare a state of emergency to help fight rising gasoline prices. (AP Photo/Mike Eliason)


Glad i'm not from CALI!
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#12 Postby wx247 » Wed May 12, 2004 10:20 am

I heard something on the radio this morning about the major companies of oil: ConocoPhillips, Texaco/Shell, BPAmoco, etc. have made the biggest profits ever these last couple of months. Makes you wonder who is the real culprit. Is it OPEC or CEOs?
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#13 Postby cycloneye » Wed May 12, 2004 12:46 pm

wx247 wrote:I heard something on the radio this morning about the major companies of oil: ConocoPhillips, Texaco/Shell, BPAmoco, etc. have made the biggest profits ever these last couple of months. Makes you wonder who is the real culprit. Is it OPEC or CEOs?


I wonder if OPEC is not the main party that is responsible and the CEO'S of oil companies are to blame for the much higher oil prices around the world and then those translate to the consumer as higher prices and more higher prices at the pump and then they get more $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$.
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#14 Postby Lindaloo » Wed May 12, 2004 12:47 pm

wx247 wrote:I heard something on the radio this morning about the major companies of oil: ConocoPhillips, Texaco/Shell, BPAmoco, etc. have made the biggest profits ever these last couple of months. Makes you wonder who is the real culprit. Is it OPEC or CEOs?



BOTH!!!!
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#15 Postby GalvestonDuck » Wed May 12, 2004 12:55 pm

cycloneye wrote:That is a great idea Dennis.Another Idea from me is to permit cars with the number plates that terminate in 2-4-6-8 to run one day and the numbers 1-3-5-7-9 to run in another day.


How about those of us whose plates end with letters? Mine is a G. :wink:
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#16 Postby cycloneye » Wed May 12, 2004 1:03 pm

GalvestonDuck wrote:
cycloneye wrote:That is a great idea Dennis.Another Idea from me is to permit cars with the number plates that terminate in 2-4-6-8 to run one day and the numbers 1-3-5-7-9 to run in another day.


How about those of us whose plates end with letters? Mine is a G. :wink:


Another good idea. :)
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#17 Postby Stephanie » Wed May 12, 2004 1:15 pm

wx247 wrote:I heard something on the radio this morning about the major companies of oil: ConocoPhillips, Texaco/Shell, BPAmoco, etc. have made the biggest profits ever these last couple of months. Makes you wonder who is the real culprit. Is it OPEC or CEOs?


I agree with Lindaloo - it's both. To me it's no better than price gauging and something must be done. If they are having records profits, then they didn't need to raise the prices to begin with. I would be in favor of price caps! Gee, I wonder what the CEO's bonuses look like this year.
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#18 Postby BEER980 » Wed May 12, 2004 8:05 pm

China has a big hand in this.
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#19 Postby Stephanie » Wed May 12, 2004 8:51 pm

How Beer?
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#20 Postby AirmaN » Wed May 12, 2004 9:08 pm

$3.00 + in CALIFORNIA?!??!!!?!?
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