Last post on Dec 06, 2013 at 6:58 PM
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#951 of 960 Re: road trip anyone? [berri]
Dec 06, 2013 (9:11 am)
Berri, you have pegged it exactly. The administration promised to correct that situation so we would not have any more 2008 run-ups on oil. Not sure what has been done. I don't think the price will come down much from where it is currently as the dollar is diluted with QE. The low price of WTI is keeping our gas prices in check. OPEC basket is at $108, about $11 over WTI.
#952 of 960 Good points
Dec 06, 2013 (9:23 am)
I think you guys all make good points concerning the petrol prices. I think there was major manipulation during that time period of $147 oil, from not on speculation but also media. I remember watching Faux "News" and every so-called expert were ratcheting up where they knew oil was going. Then the talking head would sensationalize it, even adding to it..."well, I can see oil going to $110, $115, maybe even $120 a barrel...OMG, $120 a barrel?!?!? And it just kept going on and on. Add in the shorting and bingo.
I just think when things were, in a sense, deregulated and you no longer had to take delivery of the commodity the reigns were off and it was off to the races. Add in the constant civil unrest reports, which there was always this unrest and it didn't cause huge price jumps before, and the prices went even higher.
I also remember going into fuel stations where instead of crap-TV being on, they were tuned into MSNBC, CNBC, Faux or Bloomberg, watching the ticker for oil & gas prices. It was not uncommon to have a station increase their prices once or twice in a day during this period.
#953 of 960 For those in the current storm
Dec 06, 2013 (11:09 am)
These video clips are a good reason to stay inside during the current mess. Just talked to my Daughter in Law. They are on Interstate 64 from the Airport in St Louis to Indiana, averaging about 25 MPH. They said they have never seen so my trucks and cars in the ditch. And they were both born and raised in Alaska. Pretty bad across the Midwest.
#954 of 960 Re: For those in the current storm [gagrice]
by Stever@Edmunds HOST
Dec 06, 2013 (12:30 pm)
Last week I fell hard on an icy spot and was wishing I was wearing my snowboarding helmet. My wife and I were holding hands and I drug her down with me.
And this was on the beach!
So far I've shoveled about 8 or 9 inches today. Bracing.
The WSJ reports that the US Gulf Coast refineries are awash in crude and "a barrel of Louisiana crude fetched $9.46 less than a barrel of comparable-quality crude in England" mid-week.
"Some industry officials argue that U.S. light crude will simply displace more "heavy" imported oil. But many Gulf Coast refineries are set up to turn the more viscous crude into diesel fuel, and converting their facilities to process additional light oil wouldn't be easy." (WSJ - registration link)
But, only gasoline prices seem to be going down, not diesel.
#955 of 960 Re: road trip anyone? [gagrice]
Dec 06, 2013 (1:20 pm)
Personally, I'm very nervous of what happens when the Federal Reserve induced bubbles begin to burst. Their track record is not good. It will hit investments, commodities, currencies... I think they have gone too far and will have trouble smoothly changing course. I also don't think they should be inflating and propping up markets or choosing winners and losers (e.g. wealthy investors are making out, while middle class savers and retirees are getting screwed).
#956 of 960 Re: For those in the current storm [gagrice]
Dec 06, 2013 (2:03 pm)
Fun! I love this stuff. In my post-Alaskan experience with snow storms in the lower 48, there's no reason to have much respect for the winter driving abilities of those Americans less seasoned by winter.
#957 of 960 Re: For those in the current storm [xwesx]
Dec 06, 2013 (4:16 pm)
Just talked to my son. They made it home from St Louis. He said much of the trip was a white out like in Prudhoe. No collisions. Just a lot of vehicles in the ditches. Kind of like Anchorage during the first couple snowfalls of the winter. Difference most of the lower 48 states do not allow studded tires for the ice.
#958 of 960 Re: For those in the current storm [gagrice]
by Stever@Edmunds HOST
Dec 06, 2013 (5:19 pm)
Can't find the post now but someone recently linked to a list of states that allowed studded tires, and it was a much longer list than I would have guessed.
Here's a list of states that allow them in one form or another: tirebuyer.com
"Enjoyed" a brisk walk down to a fish fry place tonight - around 8°, blowing and snowing. We saved a half buck on gas walking but the thermostat got cranked up to 72 when we got back home.
#959 of 960 Re: For those in the current storm [Stever@Edmunds]
Dec 06, 2013 (5:41 pm)
Interesting. I just remember living in MN back in the 1970s when they outlawed studded tires. I am not a fan. I would rather drive sensibly on ice. Then I had a LOT of experience with 8 months of ice a year in the Arctic without using studded tires.
#960 of 960 Re: For those in the current storm [gagrice]
Dec 06, 2013 (6:58 pm)
I remember, as a kid in snowy eastern WA back in the 80s ice age, my mother would leave chains on her car for what seemed like eons (in 8 year old terms, probably a week).