Crude up up and away

Bambamski · Posted: Aug 29, 2005 8:11 am Post subject: Crude up up and away

Crude and natural gas futures are going through the roof today. Crude is up a couple of bucks and so is natural gas.

I'm thinking fill up your boats and vehicles before the long weekend because oil companies are going to give it to us hard!

chavez · RIP MHL 04/25/1958 - 01/11/2006

Bambamski, yea, it's not looking so hot right now.

On the bright side, we are about to officially exit the summer driving season this weekend, which should help lower demand.

I would also look for the requests to start coming in for SPR loans to lessen the impact of the disruption. We shall start to see what kind of shape we are in tomorrow afternoon or so when it becomes safe to inspect the damage.

IMHO, I see Americans in general cutting usage dramatically when gas begins to hit near 3$ nationwide. More for psychological reasons than economic. Neutral

Luca · Newbie Joined: 19 Dec 2004 Posts: 40 City: Charlotte

psychological reasons ...i wish. Cost me $65+a week to fill my truck when not long it was $35. Not to mention the boat, car, sea-doo's etc. My employer has given me a raise to cover any of that. We're being careful with the extras.

jryoung · Ladies Man Joined: 19 Mar 2004 Posts: 7664 City: Man Jose

I had to laugh when I was reading the SJ Mercury news an it the quote from a Los Gatos resident (very wealthy neighborhood) was "these gas prices are killing us" (while whining about having to put premium in her car, because that's not fair either). The car she drove 2005 BMW 750. So is it the gas prices that are killing you or the $1100/mo car payment Rolling Eyes

8824 · Posted: Aug 29, 2005 9:13 am Post subject:

Bambamski,

Chicago has the highest prices in the nation. Average price 2.85.

Bambamski · Posted: Aug 29, 2005 9:31 am Post subject:

Jr pretty hard to feel sorry for her.

I can't remember how much production the gulf had in comparison with the rest of the United states. I seem to remember that the gulf is around 25% of the total prodution for oil and nat gas though. If they shut in most of that production and if some of the wells were damaged it could be a very big impact on what we are paying now at the pumps. Not to mention all the refining capacity in the New Orleans area that isn't on line because of the Hurricane.

We may see a bigger jump than we've seen all summer in the next couple of days if they've lost as much production as they're talking about.

NAW · Posted: Aug 29, 2005 10:18 am Post subject:

Yeah, I think they're responsible for about 1/4 of the national usage. Even if Bush approves the loan of some crude from our strategic reserves, there's still a refining crunch which we'll all feel at the pump.

Maybe I should take up Golf or something. Rolling Eyes

jason_ssr · Posted: Aug 29, 2005 10:29 am Post subject:

KITEBOARDING!!!!

8824 · Posted: Sep 01, 2005 6:14 am Post subject:

We had a 40c increase from last night. Nice.

Jester · Posted: Sep 01, 2005 8:32 am Post subject:

We're officially at $3 a gallon here. So much for my Labor Day vacation to Santa Barbara, I'm not dropping $120 just for gas!

re re · Addict Joined: 02 Jul 2004 Posts: 723

ty540 · Addict Joined: 14 Feb 2003 Posts: 603

What's new?

chavez · RIP MHL 04/25/1958 - 01/11/2006

re re, hell, the difference is probably less than that...

Jester · Posted: Sep 01, 2005 9:54 am Post subject:

I'm a grad student & have learned to stretch $20 a long way. Yes, to me it's significant.

J-Ro · Posted: Sep 01, 2005 12:04 pm Post subject:

Jester, I don't understand. You were going to spend $100 in gas on a vacation but now $20 more will keep you from going?

AirProfile · Addict Joined: 17 Aug 2004 Posts: 602 City: Brookfield

it's officially 168 dollars to fill up my boats gas tank on the lake!!!!!!!!!
________
Medical marijuana

Jester · Posted: Sep 01, 2005 2:52 pm Post subject:

chavez · RIP MHL 04/25/1958 - 01/11/2006

AirProfile, gotta pay to play.

DJew Jake · Posted: Sep 01, 2005 5:03 pm Post subject:

you can always say 20 more here 20 more there, but it adds up....

you know it was like 80bucks, then 90 then 100 now 120 so it may only be 20 more now but from a year ago its 40 more when do little incremenets become sigfig.

J-Ro · Posted: Sep 02, 2005 11:06 am Post subject:

Jester, I'm not a grad student but I can read. I assume you are going to spend money on your trip. I assume you had this planned for a while. If your money is that tight, maybe you shouldn't go in the first place. Unless this is for a wedding or something you have to go to.

Bruky · Guest

Jibsta, coming from you, that's pretty damn funny. Laughing

Jester · Posted: Sep 02, 2005 1:35 pm Post subject:

J-Ro, you're right. I was on the fence about the whole trip anyways, but with gas now costing an extra $20 it's definitely not gonna happen.

J-Ro · Posted: Sep 02, 2005 1:37 pm Post subject:

Jester, That makes total sense. I'm driving 2.5 hours to my parents houseboat. Was considering taking my boat but now, no way.

DJew Jake · Posted: Sep 02, 2005 6:07 pm Post subject:

Bruky, Hey now im in tight times all of a suden.

Bruky · Guest

Awww, did your parents take away the credit card??? Puppy Eyes

DJew Jake · Posted: Sep 02, 2005 11:18 pm Post subject:

Bruky, Yes :'(