OIL now $105.31

 Check the GOMS home page, a few days ago it was close to $97 . How high will it go?

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Permalink Reply by craig on February 24, 2012 at 3:39pm

Funny you mention trains.....In the 1800's I can hear this same conversation between two train engineers , except that they were talking about coal. 

Permalink Reply by oildude on February 24, 2012 at 11:08pm

I see your point but I live in coal country and I can tell you that the coal industry did not try to change to meet the demands of a constantly changing world. They just put the money in their pockets instead of improving their infrastructure. However, it is starting to change. Peabody coal has partnered with china to develope technology to capture CO2 from burning coal and natural gas. They use the CO2 to make concrete. It would seem that coal is coming back.

Permalink Reply by George A Baughman on February 24, 2012 at 4:01pm

bill i kinda hope it goes way higher,im unemployed and i need a booster shot!!!!!lol

 

Permalink Reply by Henry J. Cittone on February 24, 2012 at 7:31pm

and natural gas is.....$2.55..it used to be $4.50.

 

Until we build an export terminal to supply Europe we will have artifically low nat gas prices in this country.

Permalink Reply by Wayne Altland on February 25, 2012 at 3:40am

Billy brought an interesting question to the forefront. I believe the high oil prices are all politically calculated to make the present administration in Washington look like a hero after the price per gallon tops $5.00. In October (one month before election) the president will have reviewed the environmental impact of the Keystone pipeline and found it to be a "shovel ready" project. This will bring the price per gallon down and we again will have a "savior". In the meantime we are paying more than necessary and getting it where the sun doesn't shine.

Permalink Reply by oildude on February 25, 2012 at 3:56am

I realize that high gas prices are a pain in the ass but I want oil to be $300 a barrel when they are pumping it out of my ground. 

Permalink Reply by Nut leesduh on February 25, 2012 at 6:46am

Oil D that's greed at its best at others expense.

Permalink Reply by Billy Park Whyde on February 25, 2012 at 6:52am

no different than a Hospital! 

2s72s0k9mm8gdPermalink Reply by 2s72s0k9mm8gd on February 25, 2012 at 10:36am

Hmmm....

When gasoline crept up into the 4.00 range a few years ago the oil companies blamed the HIGH demand and lack of refining capacity......(didn't oil get up to 140.00/bbl ?) Why are we now paying near 4.00 @ 100.00+/bbl.........AND due to WEAK demand they are EXPORTING the abundant excess of refined product...............???????

Supply and demand as far as who is concerned? China needs more fuel so we accomodate them with our product and demolish our own economy in the process.......? May as well pick your tree , as nearly the sufficient amount of rope has been sold to our executioners to hang us all with!

 

Permalink Reply by oildude on February 25, 2012 at 10:56am

I may be a little greedy but I have something that everyone in the world wants. I simply expect to be fairly compensated for my resource. One thing that I have realized through all my research of the oil industry is that the big boys in the oil companies see this like a game. Its like "Monopoly" but for real. There are very few rules to this game. Possibly no rules at all. As with all games someone has to lose so that someone else can win. Listen to the horror stories that some of these good people tell about how the oil companies screwed them out of everything. If you are going to play with them you had better have the killer instinct or they will eat you alive. I INTEND TO WIN.

Permalink Reply by Nut leesduh on February 26, 2012 at 6:08am

Oil D: It was just the way you said it. I'll give you the benefit of the doubt that your not really greedy. The rest of your last post goes right into my beliefs that if you have a dollar someone is trying to take it from you. The more you have the harder they try. 

Like I'm going to sell some timber. The logger's going to give me $2000 for it. The township enacts a permit fee for logging of $300 that the land owner doesn't have to pay, the logger has to pay it. Yeh right! Now how much so you think the logger is going to offer? Yep, $1700 with no mention it would have been $2000 if it wasn't for the permit fee. Twp's taking money from my pocket under the ruse the logger has to pay it not me. Think of any tax, permits, wind falls, fees what ever if you buy something or service you pay for all that.

Permalink Reply by oildude on February 26, 2012 at 8:43am

Nut

I was not offended by your post. I guess my statement had a bit of an "edge" too it but it was directed towards the oil companies. I am very determined to be successful but I am not getting emotionally wrapped up in it. Remember. Its just a game.

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