Fucked at the pump!

[yard dawg]

I have a question or 2. How does the flow of oil go? Take me from the ground to the pump please. How does the commodities market get involved? In everything you can always follow the money to find the culprit.

Its my opinion thats its a combo of the specualtors,low dollar value and the big oil companys but I want to know for sure.

[ABSOLUT CHARVEL]

i bet we hit the $5 a gallon by August at this rate.

the good news is there's a new airlines that charges by your weight!

http://flyderrie-air.com/

[Soap]

Rent the movie "The Deal."
It relates to and about the fuel crisis were in and yet its a couple of yrs old.
Definitely worth a watch.
Christian Slater and a common female actress (the fire girl/lady in Hellboy) I don't know her name. Again, worth a watch.

Its been reported already,
Gas prices are expected to hit $5.00 a gallon by the 4th of July.
Whether it does or not, is yet to be seen.
Even so, thats the estimated forecast.

This whole Gas price scenario will blow back in their faces.
People will stop taking vacations, weekend getaways, go to smaller more fuel efficient vehicles.
Stop their spending in general to conserve. Great concern is about to hit the American people.
I hope the Government is prepared for it.
Meaning, this is gonna get ugly fast.
When the average working family is spending ALL their pay check to get by...nothing left to deposit, nothing left in wallets and purses.
Huh, get ready it will get many peoples attention and not necessarily in a good way either.
This will put a very hard hit on an already struggling recession economy.

[ABSOLUT CHARVEL]

i guess it time to figure out what to cut back on .....

sadly, it may be time to take advantage of what people are going to get rid of to make ends meet. craigslist should be real active in the near future. i guess it's not really taking advantge, more like people have to liquidate items, they dont deem as no loner needed to make ends meet.

[SEEGERMANY]

i bet we hit the $5 a gallon by August at this rate.

I thought I had already mentioned this but I heard on one of the financial talk shows that gas would be $5.00 per gallon by July 4th and $8.00 per gallon by the end of the summer. They were using September as the end of the summer guideline.

[Bengal]

I thought I had already mentioned this but I heard on one of the financial talk shows that gas would be $5.00 per gallon by July 4th and $8.00 per gallon by the end of the summer. They were using September as the end of the summer guideline.

I also heard $5 by July 4th. They are also saying a barrel of oil will be over $150 by then.

Nope, we are not in a recession. Just cover your eyes and repeat "There's no place like America, there's no place like America" and you'll be just fine.

Or maybe God will provide. Who knows?

[ABSOLUT CHARVEL]

time for a vespa i guess.

[cookiemonster2]

I have a question or 2. How does the flow of oil go? Take me from the ground to the pump please. How does the commodities market get involved? In everything you can always follow the money to find the culprit.

Its my opinion thats its a combo of the specualtors,low dollar value and the big oil companys but I want to know for sure.

It's a bit complex here is a quick rambling answer.

From well, to a pipeline or truck, to a battery, into a feeder pipeline, then into a trunk pipeline. From the trunk pipeline the oil can be delivered to a refinery or to the coast and put on a tanker and shipped overseas to be refined there. It may also be blended/upgraded within the pipe, or upgraded at a facility before reaching the refinery. At the refinery the oil is refined into products like gasoline. The producer may maintain ownership of the oil throughout until it is sold to the refinery. Larger integrated oil companies may maintain ownership through the whole process. Put another way, speculators do not have to actually buy and sell any actual oil to influence the price. Derivative contracts are financial instruments linked to notional amounts of oil. If you hold the contract to settlement you may have to actually take receipt or supply oil (then you would be stuck actually having to buy oil from someone else, or make arrangements to take delivery and sell to someone else), or you may be able to settle the difference between the contract price and actual price net in cash. If you sell the contract before settlement then you just settle in net cash.

An oil company may use a derivative contract to lock in the price they will receive for oil, while a refiner may want to lock the price they will pay for oil. When companies that are actually in the business use these contracts to hedge risk there is not a big problem because the contracts are linked to actual physical quantities of oil they intend to deliver or receive. It's speculators who buy the contracts and are essentially betting on the price of oil with no actualy physical receipt or delivery of oil that could be running up the price where no real change in demand or supply of oil has occurred. The change is the demand for the derivative not the oil itself.

[thetroy]

The change is the demand for the derivative not the oil itself.

bingo.

One point though: When oil companies themselves trade oil futures to hedge risk, there is often no physical exchange of goods.

[SEEGERMANY]

Want to get pissed? Do a GOOGLE search on the Bakken Basin in Montana and South Dakota. I'll let you research it a bit before I comment further.

[ABSOLUT CHARVEL]

Want to get pissed? Do a GOOGLE search on the Bakken Basin in Montana and South Dakota. I'll let you research it a bit before I comment further.

Tap that Bitch

[Bengal]

Want to get pissed? Do a GOOGLE search on the Bakken Basin in Montana and South Dakota. I'll let you research it a bit before I comment further.

I assume that's some "be all and end all" of oil deposits?

You know it takes at least 10 years to see any results from drilling, right? It's not a quick fix. We'll be paying $17 per gallon before that can be refined.

The goal is to become less dependent on oil, not find more. IMHO.

[SEEGERMANY]

Scott, they've known about this deposit for over 50 years. Granted, the technology to drill vertical, then horizontal was not there, but it has been for several years. The United States has got to quit being so fucking complacent. We've got to do what everyone else is doing and get our asses in gear. Hell, look at Brasil. They've got the largest fleet of deep sea drilling ships in the world. Fucking Brasil! The only thing we've got on our minds is who drilled Paris Hilton the deepest!

[Bengal]

Scott, they've known about this deposit for over 50 years. Granted, the technology to drill vertical, then horizontal was not there, but it has been for several years. The United States has got to quit being so fucking complacent. We've got to do what everyone else is doing and get our asses in gear. Hell, look at Brasil. They've got the largest fleet of deep sea drilling ships in the world. Fucking Brasil! The only thing we've got on our minds is who drilled Paris Hilton the deepest!

Ah! We've know about it and should have been drilling there long ago. I'm with you on that.

Believe me, I'm not a tree hugging environmentalist. I'm all for taking demand away from the middle east. And I'm also quite sure it will be very hard, if not impossible, to get us off oil. So I see what you are saying.

[Soap]

Part of the problem is two fold...Notice I said part of, not the bulk of but just part of.

This administration has taken from the "education" budget and providing no incentives.
The first time in American history, few engineers and scientists will be graduating pursuing careers in his or her field of science, medicine and etc.
No engineers and scientists means no innovation.
No innovation means, markets shrink, competition stifled and etc. because the minds to create and innovate aren't enough.
Also, the first time in American history the labor force (those that do the actual physical work) that the innovators create, aren't enough.
In other words, we don't have enough workers to do the work.

This is the deliberate and intended work of turning this Country into a poor and rich only, eliminating the working class. You do this by not providing enough and discouraging the volume of Engineers and Scientists.