2014 Gasoline Price Forecast

[Pulsar]

Why do the moderators turn a blind eye to his distortion and lying? If this misrepresentation was made about Google you bet there would be action.

 

[Ketchup]

Why do the moderators turn a blind eye to his distortion and lying? If this misrepresentation was made about Google you bet there would be action.

I think it's because everybody knows he is lying. He is a legend. Does anybody here remember Dave posting facts? I found his first post, and it was wrong:
http://forums.anandtech.com/showthread.php?t=611649&highlight=

On the flip side, we aren't all getting citations for making fun of the guy, so I guess it works out fair.

 

[dmcowen674]

This article calls out the Oil Thug supporters in here and how wrong they were before and now.

Only one person in the U.S. most likely the world has the Oil Thugs pegged.

Me

The proof is how angry I get the Oil Thug supporters in here.

1-17-2015

http://www.usatoday.com/story/money/markets/2015/01/17/motley-fool-oil-prices/21431253/

Fall in oil prices brings out the Know-It-Alls



It seems so obvious today that doubling U.S. oil production would clobber oil prices. But it's difficult to remember how few people actually believed that to be the case just six months ago.


Why is it so easy to breathlessly claim that falling oil prices are obviously due to the U.S. energy boom -- as if we knew that all along -- when so many people made the opposite argument six months ago?


Before June, it was widely reasoned that since oil was traded on global markets, and demand from growing economies like China was ramping up, the U.S. oil boom wouldn't lead to lower gas prices.


Hindsight bias the ability to think you've believed something all along -- like our oil boom pushing down gas prices -- when in reality you thought something different in the past. It's also called the "I Knew It All Along" fallacy.


Hindsight bias clouds our thinking, giving the impression that the world works in clean, predictable ways that fit into a logical narrative, when in reality we're being fooled left and right, more comfortable changing the script than admitting that things are complicated and unpredictable.


Who knows what will happen to oil prices? But whatever does happen, don't pretend like you knew it all along.

 

[Ketchup]

So, who are these "Oil Thug supporters in here"?

 

[nickqt]

So, who are these "Oil Thug supporters in here"?

Anyone who disagrees with OP, obviously.

 

[dmcowen674]

So, who are these "Oil Thug supporters in here"?

The people that support the Oil Industry and their price gouging practices.

Many of them actually work in the Oil Industry and personally benefit from the price gouging.

They also support the bullshit excuses spewed by the corrupt Industry.

Are you a Thug supporter?

 

[Ketchup]

The people that support the Oil Industry and their price gouging practices.

Many of them actually work in the Oil Industry and personally benefit from the price gouging.

They also support the bullshit excuses spewed by the corrupt Industry.

Are you a Thug supporter?

Of course not, and if you had read my post about US oil independence (2031), I think you would realize that.

Besides, I seriously doubt there are any in AT Forums, but maybe you are referring to those in the industry that find this thread on a Google search.

 

[Londo_Jowo]

Of course not, and if you had read my post about US oil independence (2031), I think you would realize that.

Besides, I seriously doubt there are any in AT Forums, but maybe you are referring to those in the industry that find this thread on a Google search.

He's referring to me as I work for a company that sells industrial compressors and steams turbines to the refineries as well as provides maintenance/repair services on this equipment. Then again this equipment is also sold to chemical plants, power plants, paper mills and other industries that require machines of this size

Too bad he fails to realize the ones gouging are the service stations/convenience stores that sell the gas.

 

[Ketchup]

He's referring to me as I work for a company that sells industrial compressors and steams turbines to the refineries as well as provides maintenance/repair services on this equipment. Then again this equipment is also sold to chemical plants, power plants, paper mills and other industries that require machines of this size

Too bad he fails to realize the ones gouging are the service stations/convenience stores that sell the gas.

LOL, yeah, I can see now that you are in full control of gasoline prices, LOL!

 

[Londo_Jowo]

McOwned can't stand when people such as myself backup up the need to shut down the plant for maintenance while shifting fuel blends, To most people this makes the most sense, if you need to shut down to shift blends why not perform maintenance on the equipment? He seems to think the equipment should be able to run at 85% - 95% capacity, 24/7/365 for years on end without the need for maintenance. This same mind set (usually operations) is what results in the catastrophic failures that require extended down time to repair.

 

[Matt1970]

Why do the moderators turn a blind eye to his distortion and lying? If this misrepresentation was made about Google you bet there would be action.

Oh but you have it all wrong. They are in here making fun of him like everyone else.

 

[dmcowen674]

Will the Oil Thug Supporters go against one of their own like they do me on here?

I suspect not, they are such cowardly liars.

1-19-2015

http://www.usatoday.com/story/money/2015/01/19/gas-oil-five-dollar-gallon/21865975/

Former oil exec: $5-a-gallon gas on the way



John Hofmeister attracted national attention in 2010 when he predicted that average U.S. gasoline prices would soar to $5 a gallon in 2012, thanks to rising crude oil prices. His forecast fell short, as the cost of filling up flirted with $4 in 2012, but never went higher.


Now, with gasoline prices at $2.14, their lowest level since May 2009, the former president of Shell Oil is issuing another warning, telling motorists that their joy ride may end sooner than they think.


"The next round of high prices is likely to start later this year, as crude rebounds to the $80s and $90s, perhaps pushing to the $100 level by late in the year or early next," Hofmeister told me the other day after a trip to Calgary, where he was promoting natural gas as a transportation fuel.

Hofmeister still sees $5 gas on the horizon.

"Over the next several years, as demand growth approaches 100 million barrels a day and the industry production falls short, yes, I believe later this decade we'll see $5 a gallon and possible shortages of fuel in some parts of the world," he said.

Hofmeister paints a gloomier picture of gasoline prices than many analysts, including the U.S. Energy Information Administration, which predicts U.S. gasoline prices will average $2.33 this year and $2.72 in 2016

 

[Ketchup]

So, their own article points out how wrong Hofmeister was. So we are supposed to believe his predictions now? Why on earth would we do that?

 

[dmcowen674]

So, their own article points out how wrong Hofmeister was. So we are supposed to believe his predictions now?

Why on earth would we do that?

Ah, there it is.

You are a cowardly Oil Thug supporter.

 

[Ketchup]

Ah, there it is.

You are a cowardly Oil Thug supporter.

English isn't your native language is it? That's ok. The we would be referring to anyone reading that article.

 

[Londo_Jowo]

So, their own article points out how wrong Hofmeister was. So we are supposed to believe his predictions now? Why on earth would we do that?

Nostradumas McOwned wants to be right for once in his lifetime. He's been driving for 5 for years now only to be wrong time after time.

 

[Tweak155]

Nostradumas McOwned wants to be right for once in his lifetime. He's been driving for 5 for years now only to be wrong time after time.

He will eventually be right, you gotta think of the long term here Londo!

Saw my first price hike since the gas started going down all those weeks back... jumped from $1.79 to a whopping $1.81 in ONE DAY. I've already started to divert more money into savings and decided I should bike to work this winter.

 

[dmcowen674]

I don't agree with this smug Forbes staff asshole. He fits in perfectly with the Oil Thug Supporters on here. The biggest bunch of cowardly pussy traitors of the U.S. next to the bought and paid for CON gress.

Everything this joke of a Journalist spews is pure rich bullshit.

Prices will no doubt go up again.

They always do just as History always repeats itself because of the scourge of mankind the likes of this guy and his Thug supporting ilk in here.

1-21-2015

http://www.forbes.com/sites/christo...-delta-air-lines-jet-fooled/?partner=yahoomag

How Cheap Oil Has Delta Air Lines Jet Fooled



Christopher Helman Forbes Staff



This story appears in the February 9, 2015 issue of Forbes.


In 2012 Delta Air Lines DAL +0.02% did something strange. It bought an oil refinery.


In the crystal ball of hindsight Delta would have been better off just waiting for oil prices to fall and then locking in lower fuel prices in the futures market.


--- Rest of 3 pages of sewage snipped ---

 

[Londo_Jowo]

Of course you don't agree with someone that shows how ignorant you are when it comes to finances and profitability of refineries.

Delta will continue to lose money until oil prices are over $85/barrel.

 

[IndyColtsFan]

Will the Oil Thug Supporters go against one of their own like they do me on here?

I suspect not, they are such cowardly liars.

1-19-2015

http://www.usatoday.com/story/money/2015/01/19/gas-oil-five-dollar-gallon/21865975/

Former oil exec: $5-a-gallon gas on the way



John Hofmeister attracted national attention in 2010 when he predicted that average U.S. gasoline prices would soar to $5 a gallon in 2012, thanks to rising crude oil prices. His forecast fell short, as the cost of filling up flirted with $4 in 2012, but never went higher.


Now, with gasoline prices at $2.14, their lowest level since May 2009, the former president of Shell Oil is issuing another warning, telling motorists that their joy ride may end sooner than they think.


"The next round of high prices is likely to start later this year, as crude rebounds to the $80s and $90s, perhaps pushing to the $100 level by late in the year or early next," Hofmeister told me the other day after a trip to Calgary, where he was promoting natural gas as a transportation fuel.

Hofmeister still sees $5 gas on the horizon.

"Over the next several years, as demand growth approaches 100 million barrels a day and the industry production falls short, yes, I believe later this decade we'll see $5 a gallon and possible shortages of fuel in some parts of the world," he said.

Hofmeister paints a gloomier picture of gasoline prices than many analysts, including the U.S. Energy Information Administration, which predicts U.S. gasoline prices will average $2.33 this year and $2.72 in 2016

By the way, how did your $6/gallon and $10/gallon gas by the end of 2014 work out? Care to make another stupid prediction and then scurry away and hide like the cowardly little pussy you are?

 

[IndyColtsFan]

Ah, there it is.

You are a cowardly Oil Thug supporter.

*YOU* calling someone cowardly? The same person who makes ridiculously wrong predictions and then runs and hides like a cowardly little pussy when called on them? *YOU*, the same person who blocks people who insist you answer for your comically wrong predictions?

You are the definition of coward and are the laughingstock of Anandtech and many other sites on the internet.

What happened with your $6 and $10 gas predictions by the end of 2014, Dave? Answer the question you cowardly fool.

 

[IndyColtsFan]

Oh but you have it all wrong. They are in here making fun of him like everyone else.

They should've left his permaban in effect. He adds nothing to this forum and is a lying coward.

 

[Fern]

-snip-
Too bad he fails to realize the ones gouging are the service stations/convenience stores that sell the gas.

It's not them.

All the ones that I know of get paid a commission of about 3 cents a gallon and have zero control over the price.

Might be the distributor they buy from, but it isn't the gas stations. They make their money from the convenience store sales. The gas is just there to bring people in.

Fern

 

[xaeniac]

would never have guessed gas would be the price it is today. Wow. I would not expect it to stay down for long. Saudi King died so maybe this will be the up trend.

 

[Fern]

This article calls out the Oil Thug supporters in here and how wrong they were before and now.

Only one person in the U.S. most likely the world has the Oil Thugs pegged.

Me
-snip-

Dave, I'm not following your line of thought here at all.

However, I wanted to mention something you may find interesting. The low price is (partially) the result of the Saudis and OPEC refusing to drop production. There have been a couple of reasons suggested for this:

1. The Saudis/OPEC want to push the other producers (fracking etc.) out of the market by making it unprofitable for them to produce.

2. They want to hurt Iran financially to impair their ability to pursue a nuke weapon program. The Saudis are very concerned about Iran and the possibility of a M.E. arms race.

3. Another possibility: We've discussed the oil brokers and speculators that make money and drive up prices without actually contributing anything. The actual oil producers aren't happy having these parasites profiting off their business either.

I wonder if the Saudis' actions aren't really aimed at driving them out of business. The speculators' model, buy low sell high, doesn't work at all during periods of falling prices. And we've seen a sustained period of falling prices. So, their practice of buying oil at today's prices and hoping to sell later at a profit would have resulted in some serious losses. The speculators only play now is to sell short and buy later at a lower price to cover. I suspect that the Saudis can spot this if it happens and will switch tactics - drive the prices up - and give them a double whack.

Fern