2014 Gasoline Price Forecast

[shady28]

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.

The bailout would be for whoever bought their bad debt (banks and financials), not for the oil companies.

$550B sounds like a lot but in and of itself it's not much. It gets more complex when you've got a company that loses its shirt on oil, so has to sell something else to maintain its cash, and then a seemingly unrelated market nosedives. Lots of variations on that theme, derivatives, people shorting oil who have to be paid often by the same company that just lost its shirt on oil etc.

Just to show how worthless these financials are, from Aug 2013 :

http://247wallst.com/energy-busines...mexico-oil-opportunity-may-rival-middle-east/

"The oil service analysts at Merrill Lynch think Mexico energy reforms could drive about $2.5 billion of incremental annual revenues opportunity. They also believe Mexico will be able to add 50 onshore rigs and 20 floaters in two years time. "


Here's how their picks did in the last 12 months :

NATIONAL OILWELL VARCO INC. 1 Year Change: -21.63%

ENSCO 1 Year Change: -53.44%

CAMERON INTERNATIONAL CORP 1 Year Change: -18.42%

NATIONAL OILWELL VARCO INC. 1 Year Change: -21.63%

NOBLE CORPORATION 1 Year Change: -60.80%

SCHLUMBERGER LTD. 1 Year Change: -8.00%

WEATHERFORD INTERNATIONAL LTD. 1 Year Change: -30.15%

BAKER HUGHES INCORPORATED 1 Year Change: +3.70%

 

[dmcowen674]

This is hysterical

Never heard the Thugs complain when the price was sky high with no "fundamentals" to support it:

12-14-2014

http://news.yahoo.com/opec-says-market-fundamentals-dont-justify-oil-plunge-105135741.html

OPEC says market fundamentals don't justify oil plunge



The rise in oil supplies on global markets does not justify the sharp drop in crude prices, a top OPEC official said Sunday, arguing speculation might be a contributor.


"We want to know the main reasons that have led to such a drop in oil prices," said Abdalla Salem el-Badri, secretary general of the Organization of the Petroleum Exporting Countries.


"When we look at supply and demand, there is a rise (in supply) but only a modest one that should not have led to this 50-percent drop," he told reporters at a conference in Dubai.


"Speculation is strongly contributing to pushing prices down," he added.

 

[Londo_Jowo]

Bet you don't complain when you make more money either, only when you make less. Imagine that

 

[TheSandman21]

Just paid $2.26 for gas in Indianapolis... I don't even remember the last time I got a warning email from GasBuddy telling me to go hit my normal "last to raise prices" stops.

In fact the last email I got from them said prices were going to fall over the next 3 days. I about fell out of my chair.

 

[hal2kilo]

$2.63@gal for diesel at the Poulsbo, WA Safeway w/$.20@gal discount. My lowest so far.

 

[Londo_Jowo]

Gas has been dropping here around a 7 cent a week average. I filled up yesterday $2.14/gal using a $0.10/gal Kroger discount.

 

[OutHouse]

Gas has been dropping here around a 7 cent a week average. I filled up yesterday $2.14/gal using a $0.10/gal Kroger discount.

same here, i filled up yesterday at costco for 2.19, i just checked gasbuddy and it has dropped to 2.12.

 

[OutHouse]

We want to know the main reasons that have led to such a drop in oil prices," said Abdalla Salem el-Badri, secretary general of the Organization of the Petroleum Exporting Countries.

\

i bet they do. instead of them making 1.9 trillion a week they are down to 1.8 trillion. damn greedy oil thugs!!

 

[Londo_Jowo]

Abdalla Salem el-Badri, secretary general of the Organization of the Petroleum Exporting Countries

He is a Libyan who's country that's hurting badly from what the Saudis have chosen to do with oil production. Venezuela is going down the tubes quickly due to the drop in oil prices as well.

 

[MagickMan]

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.

If we could harness the power of Dave's stupidity and willful ignorance the world wouldn't need oil.

 

[dmcowen674]

What are they going to do when run out of places to store all the oil?

Just about tanks are full and now they are stacking oil cars all over the place.

12-15-2014

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

Crude Oil Jan 15 (CLF15.NYM)

-NY Mercantile Watchlist

55.40

2.41(4.17%) 3:17PM EST

http://finance.yahoo.com/news/brent-recovers-more-1-hits-035400837.html


Crude prices came under renewed selling pressure Monday after OPEC said it would not cut oil output despite fears of a glut

Benchmark Brent oil fell to nearly $60 a barrel while U.S. crude appeared to have $55 as its next major test, extending last week's rout that wiped out about $8, or more than 10 percent, off both markets.

U.S. crude sold off more sharply on concerns of another sharply weekly build in the United States.

 

[Ketchup]

\

i bet they do. instead of them making 1.9 trillion a week they are down to 1.8 trillion. damn greedy oil thugs!!

I know, poor babies! Gotta love how:
1. They act like they are losing money
2. They don't know why
3. They didn't do it sooner

 

[Drako]

What are they going to do when run out of places to store all the oil?

Just about tanks are full and now they are stacking oil cars all over the place.

Oh No! It's going to be Oil Carmageddon!

 

[cabri]

What are they going to do when run out of places to store all the oil?

Just about tanks are full and now they are stacking oil cars all over the place.

How about refilling the Strategic Reserves.

Excess oil exists and low prices for it.

 

[Londo_Jowo]

How about refilling the Strategic Reserves.

Excess oil exists and low prices for it.

There are many old salt domes in the gulf area that are owned by the oil companies that are used for oil storage. Salt domes are also used for the strategic reserve as well.

 

[IndyColtsFan]

I see the McOwnage continues. Carry on.

 

[Blanky]

http://forums.anandtech.com/showpost.php?p=36991679&postcount=49

 

[OutHouse]

There are many old salt domes in the gulf area that are owned by the oil companies that are used for oil storage. Salt domes are also used for the strategic reserve as well.

I thought the domes were for natural gas storage.

 

[IndyColtsFan]

What are they going to do when run out of places to store all the oil?

Just about tanks are full and now they are stacking oil cars all over the place.

BWAHAHAHAHAHA, you just keep digging that hole. You should get an AT Lifetime Achievement Award for self-ownage. Damn, you're stupid.

 

[cabri]

Link


Gas prices dip below $2.00 per gallon in 13 states

Alabama, Arizona, Colorado, Indiana, Mississippi, Missouri, Nebraska, New Mexico, Texas and Virginia all have fueling stations selling gas for under $2 per gallon, while Oklahoma, Louisiana and Ohio each have at least one pump selling gas for less than $1.90.

.

Such must really raise McOwen's hackles

 

[Londo_Jowo]

I thought the domes were for natural gas storage.

Some are also used for gas storage as well.

One location the dome is used for a compressed air storage for a peaking station (CAES).

http://www.apexcaes.com/

 

[MagickMan]

BWAHAHAHAHAHA, you just keep digging that hole. You should get an AT Lifetime Achievement Award for self-ownage. Damn, you're stupid.

The only reason this thread is kept open is for its comedic value.

 

[dmcowen674]

This must be driving my fans nuts

Oil down around $50, gas below $2

Shows how I am always right on how corrupt their handlers are and how they are on the wrong side of history.

How do they sleep knowing what fools they are?


12-17-2014
Crude Oil May 15 (CLK15.NYM)

-NY Mercantile Watchlist

56.60

0.56(0.98%) 4:34AM EST

Add to Portfolio



Prev Settlement:N/AOpen:56.78Bid:56.43Ask:56.46Day's Range:56.14 - 57.38Volume:974Open Interest:N/ASession:
Exp. Date:N/A

 

[MagickMan]

You know, just because your gross stupidity makes you mildly entertaining doesn't mean you have fans. We're not laughing with you, we're laughing at you.

 

[dmcowen674]

Well it was short lived.

Saw $1.97 gas for a day or two but now has jumped the usual 30 cents, back to $2.24 in time for the Christmas drive.

Still have a weekend before Christmas for them to jack it even higher.