stock market oil prices

[Highbanked Hauler]

I was going through the MSN page today, now I don't know squat about the stock market but there was four individuals arguing about the causes of oil prices rising but they did agree that the price will keep going up. One said that $150. a barrel  by the end of the year was not unrealistic and that higher prices are possible .I have read that fuel usage in the US has basically remained the same for the last few years and that China  and other countries are the problem or is it that new technology for fuel is only a year or two  out and when it comes out the need for oil for fuel will drop but not before it kills off 50% of businesses including food production and affordable housing. Did I miss something??  Correct me if I am wrong, but it looks to me like we are in for violent times ahead!!

[TruckDriver]

I heard $150 by Labor Day already

But yes, I agree with you. Won't be long, and people will be killing each other just for gas like in the Road Warrior movie. (not trying to be funny either)

[derailed]

I agree, Im thinking $150/barrel by labor day and probably $200 by this time next year. Theres going to be alot of cold people this winter. Im wondering if electric heat may be cheaper at this point. Theres been alot of drive offs around here at the stations that still dont have mandatory prepay.

[PocketThunder]

I believe we will see $200 a barrel by years end.  Good thing i moved closer to work so i can bike if i have to.  It doesnt hurt to be in the oil refinery construction business either..

[twenty mike mike]

It doesnt hurt to be in the oil refinery construction business either..

Sooooo....are you building one? 

[TruckDriver]

Well, guess what, oil prices shot higher and neared $140 barrel today already I just read

[Charger_Fan]

I didn't catch where exactly, but I heard on the radio that people in some countries already are killing each other over gas prices.
I agree, these next couple years are not gonna be good.

[RD]

geez, that aint bad at all!  i am killing myself each time i go to the gas pump (well, killing my bank account anyway )  I spend $500 - $550 a month on gasoline due to my commute.  I will move closer, but I have to sell my house first.

[justin1987]

It doesnt hurt to be in the oil refinery construction business either.

Good luck getting the tree huggers to agree to build a new refinery. That is the major reason gas is so high.

[derailed]

It doesnt hurt to be in the oil refinery construction business either.

Good luck getting the tree huggers to agree to build a new refinery. That is the major reason gas is so high.

I think the whole tree hugger excuse is getting pretty old. Think about it, these oil companies are making record profits. Why would any of them even bother spending a dime upgrading or building a new refinery when they dont have to and even if they wanted to I dont hink there would be any stopping a company with that size and power.

[Lowprofile]

geez, that aint bad at all!  i am killing myself each time i go to the gas pump (well, killing my bank account anyway )  I spend $500 - $550 a month on gasoline due to my commute.  I will move closer, but I have to sell my house first.

Did you ever think about buying a motorcycle for your commute?  You can get an older Goldwing for a few grand these days. Just a thought. 

It doesnt hurt to be in the oil refinery construction business either.

Good luck getting the tree huggers to agree to build a new refinery. That is the major reason gas is so high.

I think the whole tree hugger excuse is getting pretty old. Think about it, these oil companies are making record profits. Why would any of them even bother spending a dime upgrading or building a new refinery when they dont have to and even if they wanted to I dont hink there would be any stopping a company with that size and power.

No, the tree hugger "excuse" is quite real. Besides that, I have read somewhere that most of the oil companies huge profits have been made overseas, not here in the U.S.........And many of us who have 401k's are investors is those same oil companies, so the profits are a good thing. As a trucker, yea, $5 a gallon diesel sucks, but truth be told, I get a pretty hefty surcharge, so I am still making money. As always , the consumer pays in the end.

[Highbanked Hauler]

The danger here in the North East is going to be the cost of home heating oil which runs about 35 cents a gallon below diesel fuel. I think you will find a lot of people who can't pay to heat their homes this year and  WHAT is going to put a cap on oil anyway? If  somebody farts in Iran the price goes up. I haven't heard the hurricane forcast for this season but that has got to be a few bucks a barrel

[jeryst]

They had some hearings in Congress with several top financial people. Basically, up to 66% of the price of oil is due to speculation. The financial people told Congress that they could fix the problem by putting two words in a bill that was passed several years ago to try to eliminate Enron type fiascos. They said that if the two words were added, the price of oil would drop by 25% in the first night.

Lets see if our wonderful elected officials do something about it, since they are the ones that omitted the two words in the first place, and caused this whole runaway oil price fiasco.

[Big Lebowski]

It doesnt hurt to be in the oil refinery construction business either.

Good luck getting the tree huggers to agree to build a new refinery. That is the major reason gas is so high.

  That's what I was going to say. Those tree hugging Sierra club commies want gas to be $10 a gallon...so you'll stop using it. The ex Vice perpetraitor wrote in his book "Earth for the un-balanced" or was it "Earth in the balance" says...The way to get us out of OUR cars is high fuel taxes. Like the UK's current $8.67 a gallon.