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post #1 of 21 (permalink) Old 04-18-2006, 06:14 PM Thread Starter
 
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It's Summer - Bend Over & Grab Yer Ankles

Here are today's NYMEX contract settle prices for a barrel of Light Sweet Crude delivered over the next six months. Note the direction of prices as you go out in time. "The Market" believes prices are going up from here.

May 2006 $71.35s
June 2006 73.09s
July 2006 73.97s
Aug 2006 74.45s
Sep 2006 74.71s
Oct 2006 $74.84s[/B]

We have a new record. $71 a Freakin Barrell!!!!!!!!!!!!!!!!!!!!!!!
Holy crap, they're getting started early this year.

Prepare to receive your spanking from uncle Exxon.
Premium unleaded $3.15 in Central PA yesterday.

All of this because the Iranians may someday have a nuke and a bunch of Nigerians are killing each other (again). Man, can oil companies manufacture a crisis on demand or what?

Screw the turbo's, who makes a Hybrid kit for LS2's?

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post #2 of 21 (permalink) Old 04-18-2006, 07:09 PM
 
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Yep, I've been hearing $80 a barrel peak from some guys I trust up at Sempra Energy in Calgary. $90 if something goofy happens in the Middle East (which could very well happen in the September/October time frame right before the Congressional elections in November).

That's .25 to .50 over peak prices after Katrina last year. Out here, that's $3.50 to $3.75 a gallon for premium. Meanwhile, the CEO of ExxonMobil just got a $40,000,000 retirement package.

Between the commodities buyers, the oil companies and a government that is fully corrupt (look, campaign contributions are bribes, pure and simple), we're hosed.
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post #3 of 21 (permalink) Old 04-18-2006, 07:23 PM Thread Starter
 
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Originally Posted by b_a_betterperson
Meanwhile, the CEO of ExxonMobil just got a $40,000,000 retirement package.
Completely unrelated to obscene oil price hikes!

It's good to be the King!



I'm thinkin slave revolt. Anybody know Spartacus' e-mail address?

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post #4 of 21 (permalink) Old 04-18-2006, 08:58 PM
 
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Isn't it just wonderful how any world event now is a "reason" for the gas prices--never mind that most of these world events have been repeated in the past in some form or the other, without a gas hike. Meanwhile, oil companies are posting record profits... Do they want to tell me they aren't being greedy again?

06 IBM/blue M6 18"
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post #5 of 21 (permalink) Old 04-18-2006, 09:13 PM
 
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Got to love those speculators! I figure If I pay more in gas, I may as well make some $$$ on them at the same time. It's not the best energy fund, but I'm definitely in the green now! FSENX http://finance.yahoo.com/q?s=FSENX
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post #6 of 21 (permalink) Old 04-18-2006, 09:53 PM
 
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Possible solutions to this problem

There are several avenues this country and others could take to gradually eliminate this problem:

1. Build more refineries to increase output of petroleum products. The current administration put together a plan complete with tax incentives to stimulate the construction of more refineries after Katrina. Better late than never. This should have been done by Bush 41 or Clinton.

2. STOP the production of various blends of gasoline!!! Granted I'm not a chemical engineer but I've never understood why "summer" and "winter" blends were necessary. I believe today's computer controlled engines will make the most of the fuel they use. Various blends of gas simply delay production and distribution and therefore drive up costs.

3. Start making the transition to M85 and eventually ethanol. Imagine how cheap fuel would be if the U.S. and Canada became the new Saudi Arabia. We already have an infastructure to support liquid fuel and GM and Ford are already producing vehicles designed to run on M85. What's stopping us from making our own fuel? Why do we continue to buy oil from people that hate us? I would love to see the Middle East slip back into the Stone Age as we produce more fuel domestically.

Politcians need to start working on real solutions to this problem. Dragging oil execs in front of Congressional panels only helps the politicians at the ballot box. It does nothing to aleviate the problems associated with supply and demand.
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post #7 of 21 (permalink) Old 04-18-2006, 11:20 PM
 
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Originally Posted by Kingsford
1. Build more refineries to increase output of petroleum products. The current administration put together a plan complete with tax incentives to stimulate the construction of more refineries after Katrina. Better late than never. This should have been done by Bush 41 or Clinton.
Agreed. Unfortunately, the environmentalists and NIMBYs always kill any plans off. Kind of wish some Indian tribes would go after this -- as they can do whatever they want on their land.

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Originally Posted by Kingsford
2. STOP the production of various blends of gasoline!!! Granted I'm not a chemical engineer but I've never understood why "summer" and "winter" blends were necessary. I believe today's computer controlled engines will make the most of the fuel they use. Various blends of gas simply delay production and distribution and therefore drive up costs.
Absolutely. Here in California, we get stuffed big time because of our special California-only blend. What's funny to me is how a market of 35 million people gets hosed because we have the unique, higher standard, blend -- when it could easily be used throughout the western U.S. Bottom line? The oil companies just use it as an excuse to screw us.

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Originally Posted by Kingsford
3. Start making the transition to M85 and eventually ethanol. Imagine how cheap fuel would be if the U.S. and Canada became the new Saudi Arabia. We already have an infastructure to support liquid fuel and GM and Ford are already producing vehicles designed to run on M85. What's stopping us from making our own fuel? Why do we continue to buy oil from people that hate us? I would love to see the Middle East slip back into the Stone Age as we produce more fuel domestically.
In 1972/73, after OPEC closed the spigot, Brazil said "we've got to figure out a way to get away from these nut jobs." So what did they do? Stepped up domestic exploration and, this is key, found a way to produce methanol out of sugar cane.

Unlike the U.S. ethanol, which is corn-based and takes 1.5 units of energy for every unit produced -- the sugar cane-based product is not only cheaper to produce -- it's a net energy gaining blend. Then again, Brazil doesn't have a big farm lobby and companies like ADM and all the oil companies bribing government officials to do stuff as stupid as we're doing now. Bottom line? By the end of the year, Brazil will no longer import any oil. That is amazing.

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Originally Posted by Kingsford
Politcians need to start working on real solutions to this problem. Dragging oil execs in front of Congressional panels only helps the politicians at the ballot box. It does nothing to aleviate the problems associated with supply and demand.
Yep. And until Joe Sixpack wises up -- we're just going to continue to get screwed.

Last edited by b_a_betterperson; 04-18-2006 at 11:23 PM.
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post #8 of 21 (permalink) Old 04-18-2006, 11:45 PM
 
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Originally Posted by Kingsford
Why do we continue to buy oil from people that hate us?
Because war is the biggest money maker and breaker there is. Weapons sales are worth way more than barrels of oil will ever be, and it will never stop. Oil will dry up, but weapons will always be.
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post #9 of 21 (permalink) Old 04-19-2006, 06:52 AM
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Send a message via Yahoo to EEZ GOAT
i hate those scum bags. "look at me. i just made 60 billion dollars in profit>"
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post #10 of 21 (permalink) Old 04-19-2006, 06:59 AM
 
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Originally Posted by purplehaze
Because war is the biggest money maker and breaker there is. Weapons sales are worth way more than barrels of oil will ever be, and it will never stop. Oil will dry up, but weapons will always be.
If we decrease our dependence on foreign oil then they couldn't afford our weapons anyway.
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