I remember reading a while back that Diesel would be $6 a gallon by 4th of July. Despite the stock market and uness the world goes crazy tonight, prices have actually LOWERED on diesel since that statement was made. I believe it was Early June when they said that and it was 5.19 at my local Shell. Currently 4.85 at the same station... July 3rd!!! Good news I guess?

 

Not for long!!!!!!!!!

 

I heard on the radio that it's going to go up this weekend. We'll see what happens tomorrow.

Eugene

 

SHOOT!!! I spoke too soon!!!! There was One little station that had it for 4.99 this afternoon. All the others that were at 4.85 just went to 5.16 this afternoon on my way home from work. Probably 4th of july weekend?

 

Holiday weekend what did you expect!

 

$4.49 here, guess I better top off....

 

Just some thoughts.......
I was wondering what would happen if the U.S. (in a bid to start pumping our own oil...FAST) issued ration cards to all citizens for a predetermined amount of time, started using the oil in the Strategic Petroleum Reserve for our own use, stopped exporting our own oil, removed oil from the stock market, and the biggest change of all, stop buying (importing) foreign oil....if this went on for a year or two, where would we be? Where would the global price of oil be?


Here's a good post from the closed "$140 per barrel" thread below:

[QUOTE]Originally Posted by Hvytrkmech

Here is my futures prediction, we are WAY past recession and on the verge of a depression so large that it will make the depression of the 30's look like a vacation. Their will be no middle class or wealthy, we will all be fighting and scrounging for food shelter and the ability just to stay alive. Where do these turds think all their money comes from? No working class means no money being earned or spent, no taxes being paid so no benefits being paid out to anyone, so the wealthy will have no source of income and if they have no income who is going to buy into all the commodities futures? If we fall, then China is next, and when China goes so does the rest of the planet. I also believe the housing crisis is being used as a smoke screen for the real problem, the extortion of the working class by anything and anyone connected to oil.
These analysts should come ride the streets with the cops and firefighters I work with, matter of fact they should do it around the country, so they can see the actual affects high oil prices are having on everything, (there is no better view then from the trench's). Mark my words, this winter is going to set records if things don't change right now, and I don't mean snowfall amounts.
Flame away, call me a conspiracy theorist or whatever, these opinions are just that, my opinions formed soley on what I see, not what I hear.

Tim[QUOTE]

 

This country would crash like a lead balloon.
This is a global market plain and simple, we either participate or we (this country) dies!!
What you're speaking of is isolationism. This is a very bad policy and would lead to economic failure of any country.
inaccurate conspiracy theory to me. (Nothing personal Tim....just stating my opinion on this)
First off we have yet to hit a recession.
A recession is 2 full Qtrs of NEGATIVE growth. So far we have experienced POSITIVE growth through June. Very small growth but positive none the less.
Secondly...I find it impossible and as unlikely as can be that in some way our housing market issues were created to hide some the problem of high oil prices. If this is the case it failed miserably!! We hear more in the news of high fuel prices and what's causing it than we do about housing.

 

Actually Diesel went back down in price today!!! Yippi!

 

Maybe it's just that I don't understand economics much Capt., but I don't see how using our own oil would cause economic failure in this country.
I can see that happening for a country like the KSA or any other major oil producing country where the majority, if not all of their wealth comes from oil & nat. gas. Why wouldn't it be a good thing for us to use our own natural resources rather than selling them, and then buying the same thing from someone else?
Even if this was a good idea, I doubt it would ever happen.

 

It's my understanding that American crude oil has too high of a sulfer content and costs too much to refine to our emissions standards, so we sell it to countries with lower pollution standards and we buy the good stuff for ourselves.

 

I'm not referring to using our own oil but rather the idea of ration cards, removing oil from the stock market, and never buying oil from anyone else.
Right now we can't supply enough for this nation with the oil that we produce.

Ration Cards- Really bad idea. This is a recipe for corruption way beyond anything the conspiracy theorists could even imagine plus restricting the ability to purchase what we need when we need it will hurt everyone!

Removing oil from the stock market- another really bad idea.
We could stop trading here in the U.S. but it will still be traded on the world market. This would cut out all tax revenues that are currently generated from the trading.
Now increasing the funds required to purchase futures contracts is another story and needs to happen.

 

i just want to make it through hurricane season with out any disturbances hitting the gulf coast. if that happens and Iran does not shut down the Straight of Hormuz we may start seeing things level off as US demand tapers going into the fall and winter........we shall see though.

 

amazing how today, days after the the price of oil shot up again due to Iran's test firing of missles that were supposed to have the capability of striking Israel, the news comes out that they were all short range missles that couldn't come close to reaching Israel. is the price of oil coming down because of this incorrect info? i don't think so.