Oil going up!

[CrappieKeith]

This was in Jan....oil is over $84 a barrel now.....

By Julie Schmit, USA TODAY
Higher oil prices are hitting consumers at the gas pump and will help drive higher winter home heating bills, too.
The national average for a gallon of regular gasoline topped $2.72 Friday, $1 a gallon more than a year ago and the highest level in 15 months, auto club AAA says.

Crude oil prices, up 12% in the past month, dipped slightly Thursday to $82.66 a barrel.

The run-up is being driven by investors pouring into oil-backed assets and commodities, including natural gas, energy analysts say. "This is being driven by the money flow," says Tom Kloza, analyst with the Oil Price Information Service. Cold weather has also spurred demand for natural gas, which heats 52% of U.S. homes, and heating oil, which is heavily used in the Northeast
http://www.usatoday.com/money/industries/energy/2010-01-07-gasoline-prices_N.htm

 

[CrappieKeith]

here's more...

Oil settles near $85, higher fuel costs ahead
By MARK WILLIAMS and DEBORAH JIAN LEE (AP) – 5 days ago

Oil prices have been stuck in a range of about $70 to $85 a barrel for months. That may be changing and it could mean higher fuel costs before long.

Crude pushed to an 18-month high Thursday, passing $85 a barrel at one point, driven by a growing sense of optimism that the world will need more oil as it pulls out of the Great Recession. Now worries are starting to crop up that the rally for oil could lead to nasty results if prices keep climbing and choke off the economic recovery.

Motorists already feel the rising cost of oil at the pump, where the average nationwide retail price of gasoline is at the highest level since October 2008 and is expected to top $3 per gallon this spring or summer.

Tom Kloza, chief oil analyst for Oil Price Information Service, expects motorists will pay a little more than $300 million more for gas this Easter Sunday than they did on Easter Sunday last year. That's the difference between gas at a national average of $2.05 in 2009 and about $2.84 by this Easter, according to Kloza.


http://www.google.com/hostednews/ap/article/ALeqM5i5TtajgUpSm7KY5jf-lCJGHBB-tAD9EQGFHG0

 

[StihlyinEly]

Yepper, it makes me happy that I can get all the black ash and birch in logger's cords that I want for $85/90 per cord. Ten logger's cords is a winter's worth of wood, and then one 500 gallon propane fill when prices are rock bottom in summer lasts all winter, helping out when the nights are really cold or we're out of town during winter.

We save about $1,500/year heating with wood. Mmmmmmm, goooooood.

 

[banshee67]

dont worry ! obama flip flopped again and supports off shore drilling now!!! in 10-15 years we should see some relief at the pumps, untill then just keep putting it in neutral to coast down hills!

 

[2FatGuys]

I just looked... my saws don't have a "neutral"....

 

[banshee67]

I just looked... my saws don't have a "neutral"....

in the case of chain saws, start making about 1/4 of your cuts with the motor off, this will help on fuel savings about 25% if my calculations are correct.

 

[luvsaws]

I just looked... my saws don't have a "neutral"....

:hmm3grin2orange::hmm3grin2orange::hmm3grin2orange:

 

[stihl sawing]

What gets me is when gas shot up to an unbelivable price so did motor oil, Then gas came down and fluctuates. But oil never came down. it's still jacked way up there. My truck holds three gallons of it and at the outragous price it cost, it's tough to change the oil.

 

[Steve NW WI]

What gets me is when gas shot up to an unbelivable price so did motor oil, Then gas came down and fluctuates. But oil never came down. it's still jacked way up there. My truck holds three gallons of it and at the outragous price it cost, it's tough to change the oil.

I hear ya SS, oil gets changed in the commuter car every other month, and that's running 5-6,000 between changes, but it still would take about 150 oil changes to pay the cost of a new motor.

 

[Beefie]

It is just nuts . I just paid $3.16 a gallon for diesel. Thats no way of helping people get back on there feet thru this economy.

Beefie

 

[Walt41]

It is just nuts . I just paid $3.16 a gallon for diesel. Thats no way of helping people get back on there feet thru this economy.

Beefie

We used 46 gallons of diesel today alone, how do you think I feel?

 

[ihookem]

I paid 3.06 in S.E. Wisconsin today, this morning it was 2.97.

 

[songofthewood]

3.01 this afternoon. 2.78 this moring.go figure

 

[Beefie]

We used 46 gallons of diesel today alone, how do you think I feel?

Yea I put 65 gallons in for over 200 Bucks.

Beefie

 

[Steve NW WI]

We used 46 gallons of diesel today alone, how do you think I feel?

I'll be spending time in my friend's 400HP Deere 4wd tractor soon, at 15 gallons/hour when working hard, it's a good thing it covers a lot of ground in a hurry. There has been more than a few days I fed it over 200 gallons after a 12+ hour day.

In contrast, my little (65hp) Massey will run the wood splitter on about a gallon per hour. I'll be filling up with #2 very soon, I cut, skidded, and split, and plowed some snow on 1 30 gallon tank of #1 this winter (also burned 20+ gallons of gas in the M Farmall)

Farmers and truckers are not having fun buying fuel, that's for sure!

 

[blackdogon57]

I paid 3.60 a gallon today (.90 per litre). Cheapest diesel I have seen in a while. You guys south of the border are in for a shock if your dollar keeps dropping. Todays prices may seem like a good deal a few months down the road.

 

[NWnewguy]

This whole thing is a crock of Sh#%. If you will notice there isn't any mention of energy shortages anymore. The price is being driven up the same way it was for houses a few years ago. Not long ago it was not legal to purchase fuel futures without actually taking possession of the product. This took out the profiteers in the middle, and kept the prices somewhere near where supply and demand should have been. This is all about Goldman Sachs and the other bailout kings making money. It is really kind of amazing to think that the oil companies make the least money per gallon sold than anyone in the chain. Not that much different than farming when you think about it though. Why is it that the people that aren't taking the risks are the ones making the highest returns?

 

[mtfallsmikey]

Gas up 10 cents/gal. in one week.....at it's peak in '08, I burned $100/week in my Buick commuting to work...and it gets 28-30 mpg...

 

[ryan_marine]

It always goes up when it is time for farmers to plant and when time to harvest.

Ray

 

[angelo c]

This whole thing is a crock of Sh#%. If you will notice there isn't any mention of energy shortages anymore. The price is being driven up the same way it was for houses a few years ago. Not long ago it was not legal to purchase fuel futures without actually taking possession of the product. This took out the profiteers in the middle, and kept the prices somewhere near where supply and demand should have been. This is all about Goldman Sachs and the other bailout kings making money. It is really kind of amazing to think that the oil companies make the least money per gallon sold than anyone in the chain. Not that much different than farming when you think about it though. Why is it that the people that aren't taking the risks are the ones making the highest returns?

Ok folks, this is the yearly increase in demand spured by the "summer diving season" . Happens every year no matter what the political puppet of the year is. I found it interesting that when Liebama announced "opening" the eastern shore to drilling that the futures increased. I guess everyone saw through his charade. If he gets his cap and trade bill passed then we all might as well drop back and punt.

Sit back and watch...this is gonna get innerestin...
Oh and if you want to "play" the oil volatility look into symbols OLO and SZO.

" past performance does not assure future gains, please invest at your own risk, investments contain inherent risks and should only be used when fully informed of all outcomes..." blah blah blah