2014 Gasoline Price Forecast

[Drako]

Hey someone not on my ignore list, could you repost how the resident Oil Thug supporters explain how oil is nearly half of the $100 it was at for 4 years? Thanks

You want someone to repost something that a poster you block posted?

Why don't you just un-ignore them, and go back and read if for yourself?

 

[Doc Savage Fan]

Hey someone not on my ignore list, could you repost how the resident Oil Thug supporters explain how oil is nearly half of the $100 it was at for 4 years? Thanks

12-10-2014


Oil hits $60

http://finance.yahoo.com/q?s=clf15.nym

Crude Oil Jan 15 (CLF15.NYM)

-NY Mercantile Watchlist

61.05

2.77(4.34%) 11:23AM EST




Prev Settlement:N/AOpen:63.33Bid:61.05Ask:61.06Day's Range:60.99 - 63.43Volume:194,875Open Interest:N/ASession:
Exp. Date:N/A

Not an "Oil Thug supporter" but I believe there are three major factors: reduced demand due to slow world economy, increased supply due to fracking, U.S. oil shale, etc., and lastly...the Saudi Arabia flipping off OPEC because they're tired of taking the brunt of production cuts to keep prices high.

 

[dmcowen674]

You want someone to repost something that a poster you block posted?

Why don't you just un-ignore them, and go back and read if for yourself?

Too many fans

Most Celebrities never have anything to do with their Fan Clubs.

 

[dmcowen674]

Not an "Oil Thug supporter" but I believe there are three major factors: reduced demand due to slow world economy, increased supply due to fracking, U.S. oil shale, etc., and lastly...the Saudi Arabia flipping off OPEC because they're tired of taking the brunt of production cuts to keep prices high.

OK

So when the Saudi's decide to crank the prices back up the resident Oil Thug supporters will deny it

Got it

 

[Doc Savage Fan]

OK

So when the Saudi's decide to crank the prices back up the resident Oil Thug supporters will deny it

Got it

Dave McOwen, you are quite the enigma.

 

[Drako]

Too many fans

Most Celebrities never have anything to do with their Fan Clubs.

Delusions of Grandeur much? You picture yourself as a celebrity?

Now that's just ridiculous.

 

[Adrenaline]

Too many fans

Most Celebrities never have anything to do with their Fan Clubs.

As I have told you, gasoline prices are cyclical. As the months turn cold, demand goes down due to less travel and gasoline prices drop.

If you would pay attention to the news and what is going on in North Dakota, you would also know that the US is getting a ton of oil from there, making oil prices drop even more.

 

[Pulsar]

http://www.telegraph.co.uk/finance/oilprices/11283875/Bank-of-America-sees-50-oil-as-Opec-dies.html


The Opec oil cartel no longer exists in any meaningful sense and crude prices will slump to $50 a barrel over the coming months as market forces shake out the weakest producers, Bank of America has warned.Revolutionary changes sweeping the world’s energy industry will drive down the price of liquefied natural gas (LNG), creating a “multi-year” glut and a much cheaper source of gas for Europe.

Francisco Blanch, the bank’s commodity chief, said Opec is “effectively dissolved” after it failed to stabilize prices at its last meeting. “The consequences are profound and long-lasting,“ he said. The free market will now set the global cost of oil, leading to a new era of wild price swings and disorderly trading that benefits only the Mid-East petro-states with deepest pockets such as Saudi Arabia. If so, the weaker peripheral members such as Venezuela and Nigeria are being thrown to the wolves.

The bank said in its year-end report that at least 15pc of US shale producers are losing money at current prices, and more than half will be under water if US crude falls below $55. The high-cost producers in the Permian basin will be the first to “feel the pain” and may soon have to cut back on production.


Someone quote this so retard has to read it.

 

[dmcowen674]

Oh my god, biggest laugh of the last 50+ years.

Anyone believe this I got a bridge for sale for you.

Remember this when April rolls around and most of the Country paying $4 and Chicago around $5 again.

12-10-2014

http://www.businessinsider.com/opec...ng-the-market-take-care-of-oil-prices-2014-12

An OPEC Minister Just Made A Surprising Statement About Who Controls Oil Prices


Remember when OPEC was a cartel that attempted to stabilize oil prices by manipulating its production?

No longer.


Saudi Arabian Minister of Petroleum Ali Al-Naimi made a surprising statement at a UN climate-change meeting in Lima, Peru.


"Why should I cut production? You know what a market does for any commodity. It goes up and down and up and down,” Al-Naimi said, according to Bloomberg.

This is interesting, as Al-Naimi is ostensibly the most powerful man in the cartel that has been manipulating the global oil market since 1960. The whole point of OPEC is to use collective action, through tightly controlling the world's oil supply, to counteract the market forces that Al-Naimi is now saying should be allowed to move freely.

This comment came on the same day that OPEC lowered its demand expectations for next year to 28.9 million barrels a day, a cut of about 300,000 barrels. It's the lowest the forecast has been since 2002.
OPEC gave two reasons: The first is increased production around the world (mostly coming from shale production in North America). The second is reduced demand. As technology is improving for oil extraction, it's doing the same for energy efficiency.

In November, OPEC decided not to cut production despite these market forces, to the detriment of the economies of many of its poorer member countries like Venezuela, Ecuador, and Nigeria. The price of oil has been falling since June, when it was roughly $105 per barrel, with particularly steep drops in October and November.

No one is sure exactly why the price slid so rapidly, but it's now down to around $60 per barrel and doesn't show any signs of recovering.

This new stance by Al-Naimi is likely a political tactic. Saudi Arabia wants the price of oil to go low enough that American producers in the newly drilled shale basins aren't making any money. Then they might stop flooding the market, giving Saudi Arabia back its position as the world oil leader.


Saudi Arabia's tactics are working, too.



The US Energy Information Administration (EIA) recently reduced its forecast for production growth in 2015 by 100,000 barrels a day.

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[Pulsar]

Oh my god, biggest laugh of the last 50+ years.

Anyone believe this I got a bridge for sale for you.

Remember this when April rolls around and most of the Country paying $4 and Chicago around $5 again.

Aren't you cute. So now you're suggesting prices will raise when we have to go back to summer blend. Applause.

 

[First]

Poor Dave, he's gotta be medicated and mentally ill or something. I feel bad for him almost.

Almost.

 

[brianmanahan]

as gas prices get lower and lower, the OP gets wronger and wronger

 

[Zaap]

as gas prices get lower and lower, the OP gets wronger and wronger

I've turned to rooting for there to be some way the guy can "save face" and be 'right' about something so this botched abortion of a thread can end and just fade away. Prick or not, his decreased mental state could use the closure.

Hopefully, inevitable rising gas prices will allow him to declare that he's right, heal up his damaged psyche, and just close the book on this trainwreck.

 

[brianmanahan]

I've turned to rooting for there to be some way the guy can "save face" and be 'right' about something so this botched abortion of a thread can end and just fade away. Prick or not, his decreased mental state could use the closure.

Hopefully, inevitable rising gas prices will allow him to declare that he's right, heal up his damaged psyche, and just close the book on this trainwreck.

but there's always 2015! /facepalm

 

[Pulsar]

but there's always 2015! /facepalm

LOL.

Just wait. Because of the low energy costs, companies are going to make a killing due to much lower shipping. You're gonna see him go full retard when all those 'big businesses' post record profits. Other than energy companies of course. Then someone will have to spell out that the low gas prices he's been begging for enabled the profits, and his head will asplode.

 

[First]

lol OIL THUGS

 

[OutHouse]

$2.31 at my costco. Just filled my car that was on E for $34.00. Love it!

 

[dmcowen674]

This is why I post about this corrupt scamming Industry.

Remember right now when there is more oil than anyone knows to do with and gas is less than $2 because in a short time when oil is back up over $120 a barrel and gas around $5 again and the Oil Thugs saying there is no oil that they shut it all down on purpose.

and also remember this is done at the hands of many people right in here...

12-13-2014

http://finance.yahoo.com/news/starting-u-drillers-idle-most-010100425.html

'It's Starting' -- U.S. Drillers Idle Most Rigs in Years





U.S. oil drillers idled the most rigs in almost two years as they face oil trading below $60 a barrel and escalating competition from suppliers abroad.

"It's starting," Robert Mackenzie, oilfield services analyst at Iberia Capital Partners LLC, said by telephone from New Orleans. "We knew this day was going to come. It was only a matter of time before the rig count was going to respond. The holiday is upon us and oil prices are falling through the floor."

U.S. oil rigs will fall below 1,100 for the first time in three years

"U.S. shale is unstoppable at $100 a barrel, but it's clearly stoppable at $60"

 

[dmcowen674]

Oh looky

The Oil Thugs admit they make money whether gas prices are high or low, what a surprise ............. not

I bolded the profits

Remember the Oil Thug supporters especially in here always claim they are losing money. What a joke.

I also bolded that they gasoline coming out of their asses.

Remember that as they trot the usual "maintenance" excuse when they say have no "Summer Blend" gasoline come April.

12-13-2014

http://finance.yahoo.com/news/low-gas-prices-does-station-170814993.html

Like low gas prices? So does the station owner



Gas stations cheer lower gas prices along with drivers; falling gas price means higher profits

So you think you are finally getting one over on the gas stations as you pay well under $3 a gallon for the first time in four years? Guess again.


"We're in the same shoes as the consumer, the cost of fuel is less for us," says Kevin Beyer, who owns Performance Fuels, a filling station and convenience store in Smithtown, NY.


That means profits for Beyer and the nation's 127,000 filling stations are rising.

Before they sell gas to you, station owners buy gas on the wholesale market. When the wholesale price of gasoline falls quickly the difference between the cost of wholesale gasoline (including taxes) and the price at the pump gets wider, boosting profits for stations. The steeper the drop, the better.


"It's completely antithetical to what people believe," says Tom Kloza, chief oil analyst at the Oil Price Information Service.


That difference has stretched to 21.7 cents per gallon this year, the highest ever


That compares to an average of 17.1 cents over the last five years. On a percentage basis, station profitability is at its highest since 2005. And profits on diesel sales are even higher. "They are off the charts," Kloza says.


Refiners, including refining divisions of the big oil companies and refining-only companies such as Phillips 66 and Valero, have held up better. They benefit from lower crude costs, although they are also grappling with high fuel inventories.

 

[Londo_Jowo]

Wait a minute I thought you claimed the gas stations weren't the ones responsible for gas prices and the swings were due to oil thugs?

 

[TheSlamma]

Wait a minute I thought you claimed the gas stations weren't the ones responsible for gas prices and the swings were due to oil thugs?

It's whatever fits the argumentative situation.

 

[dmcowen674]

Originally Posted by Londo_Jowo
Wait a minute I thought you claimed the gas stations weren't the ones responsible for gas prices and the swings were due to oil thugs?

It's whatever fits the argumentative situation.

Don't join the dolt.

The Oil Thugs are the Gas stations, they are one in the same.

That is even more clear than ever these days as the digital gas price boards and pumps change several times a day from the Corporate Headquarters of the Thugs such as Marathon, Exxon et al.

Do you really want to be like the dolt?

 

[shady28]

Oil & gas price explosion was a bubble, it's as simple as that.

I enjoy the benefits of lower gas costs as much as anyone, but -

Financial bubbles imploding usually have negative effects.


http://www.bloomberg.com/news/2014-...50-billion-of-energy-debt-credit-markets.html

"Since early 2010, energy producers have raised $550 billion of new bonds and loans "

"Yields on junk-rated energy bonds climbed to a more-than-five-year high of 9.5 percent this week from 5.7 percent in June, according to Bank of America Merrill Lynch index data. "

This means the market doesn't think many of these oil / oil svcs companies will be able to pay back their bonds.

To give some perspective, in Sep. Sears, a company that has lost billions for ~ 7 years straight, their bond yield was 9.6% - only slightly higher than these oil svcs companies bonds.


And :
"Employment in support services for oil and gas operations has surged 70 percent since the U.S. expansion began in June 2009, while oil and gas extraction payrolls have climbed 34 percent.

“There are distortions in multiple markets,” said Lawrence Goodman, president of the Center for Financial Stability, a monetary research group in New York. “It is like a Whac-A-Mole game: You don’t know where it is going to pop up next.”"


The other part of this is jobs. Look at the oil and gas jobs creator here. I'm certain that line has already turned down sharply (probably gone negative).

So the real question is - will these negatives outweigh the positives?

 

[dmcowen674]

Oil & gas price explosion was a bubble, it's as simple as that.

I enjoy the benefits of lower gas costs as much as anyone, but -

Financial bubbles imploding usually have negative effects.

http://www.bloomberg.com/news/2014-...50-billion-of-energy-debt-credit-markets.html

"Since early 2010, energy producers have raised $550 billion of new bonds and loans "

"Yields on junk-rated energy bonds climbed to a more-than-five-year high of 9.5 percent this week from 5.7 percent in June, according to Bank of America Merrill Lynch index data. "

This means the market doesn't think many of these oil / oil svcs companies will be able to pay back their bonds.

Yep, would not be surprised to hear the Oil Thugs are too big to fail and Taxpayers have to bail them out like the banks.

Of course all the Oil Thug supporters in here will personally benefit from such a windfall and whole heartedly agree with the bailout.

 

[Londo_Jowo]

I would be surprised to hear that any bail out was requested or much less given. All these conspiracies are in your head Nostradumass McOwned