indiana oil refinery shuts down for maintenance, raising gas prices in midwest

[nickqt]

Gas is $1.89 where I live in Atlanta.

In Alabama, it's probably hovering around $1.75 or so along I-85 and I-65.

Argle Bargle gas prices!

 

[MongGrel]

Gas is $1.89 where I live in Atlanta.

In Alabama, it's probably hovering around $1.75 or so along I-85 and I-65.

Argle Bargle gas prices!

I blame hummingbirds.

()

 

[brianmanahan]

as usual, wtf are you even talking about?

3.50$ by christmas man :awe:

 

[MongGrel]

12-7-2015


Of course dumb Americans will forget this market manipulation by the oil thugs come this spring when they jack oil prices through the roof.




Crude Oil Jan 16 (CLF16.NYM)

-NY Mercantile

37.74

2.23(5.58%) 1:42PM EST




Prev Settlement:N/AOpen:40.10Bid:37.73Ask:37.74Day's Range:37.50 - 40.15Volume:430,249Open Interest:539,723Session:

 

[Meghan54]

I blame hummingbirds.

()

Awww...hummingbirds are so cute, unless they're fighting.


Gas was $1.65 in Anderson, SC yesterday evening at the cheapest places, such as Murphy's, Kroger, Ingles, etc. Exxon was $1.67.

 

[IronWing]

This thread is strangely reminiscent of the Ainulindalë.

 

[Darwin333]

$1.61 around here. Gas would have to more than double in two weeks to meet Dave's prediction, I'm totally sure that's going to happen.

 

[MongGrel]

This thread is strangely reminiscent of the Ainulindalë.

I had to look that one up, been so long since I had read the Silmarillon.

Thread kinda reminded me more of the Titanic myself.

 

[brianmanahan]

I had to look that one up, been so long since I had read the Silmarillon.

Thread kinda reminded me more of the Titanic myself.

i still have never read that! been meaning to for years, as well as re-read the 3 LotR books.

 

[dmcowen674]

12-13-2015

It's amazing alright, bottom line is oil & gas prices are nothing but a Monopoly game for the rich:

http://www.thestreet.com/story/1339...nth-rally.html?puc=yahoo&cm_ven=YAHOO&ref=yfp

Don't Get Used to Low Oil Prices, There's a Big Rally Coming



As often happens after large degree trends reach maturity, the crowd becomes fully associated with the what has happened, and misses the next great opportunity. This exact scenario is not only occurring in crude, again (as it did at the low of one lesser trend degree at the 2009 low, but also happened at the 2008 peak, 2011 peak, 2011 low, and 2013 peak), into the current price and time windows.


The rationale back then was the oil glut paradigm, where the world was drowning in crude. Interestingly, as the monthly bar chart below notates (into the 2008 parabolic price rise), this glut story came to the headlines within only six months of the story that was being attached to the crude price rise from $50 to $137; the peak oil paradigm.



This was the premise that every last drop of oil on the planet has been identified, and the moment in time the world would run out of oil could be calculated (given the population growth and usage assumptions, etc.).


The 2013 peak, also using the six-foot technique, is labeled as wave (B), the intervening up portion of the down/up/down corrective pattern. From that peak, there is now a textbook five wave impulsive decline, which is expected for wave (C). Within wave purple 5, the decline from the May peak this year, there are now five smaller waves that can be counted as complete, or nearly so, which is also expected, textbook behavior. In doing so, the crowd has now manifested itself into a sentiment extreme of certainty about the future price of oil that leaves no room for human failure,an attribute of human nature that is impossible to eliminate.

Therefore, devastating surprise is about to be brought to the crowd's certainty, and the next great bear trap, like that of early 2009, is about to slam shut on greedy shorts that refuse to use protective buy stop orders to lock in their amazing profits, and late-joining shorts that missed most of the decline from at least the May peak, near $62, if not the 2013 peak, near $112!

 

[dmcowen674]

12-14-2015

Right on cue starts the climb:

http://finance.yahoo.com/news/oil-tumbles-toward-11-lows-143959342.html

Oil rises, reversing course after nearing 11-year lows



U.S. crude rose more than 2 percent Monday, recovering slightly after moving within a hair of 11-year lows, as record short-interest led to technical covering on fears that the market declined too quickly.


Earlier in the session, Brent traded just 13 cents above the $36.20 low set in December 2008. Below that level, it would be at its lowest since July 2004, when oil was rebounding from single-digits lows hit during the 1998 financial crisis and when talk of a commodities super-cycle was just beginning.

 

[brianmanahan]

if this is the bottom you better start investing in oil dave

hedge your oil consumption

 

[Londo_Jowo]

12-14-2015

Right on cue starts the climb:

http://finance.yahoo.com/news/oil-tumbles-toward-11-lows-143959342.html

Oil rises, reversing course after nearing 11-year lows

U.S. crude rose more than 2 percent Monday, recovering slightly after moving within a hair of 11-year lows, as record short-interest led to technical covering on fears that the market declined too quickly.

Earlier in the session, Brent traded just 13 cents above the $36.20 low set in December 2008. Below that level, it would be at its lowest since July 2004, when oil was rebounding from single-digits lows hit during the 1998 financial crisis and when talk of a commodities super-cycle was just beginning.

I'll believe it when I see it. Paid $1.59/gal this morning

 

[dmcowen674]

if this is the bottom you better start investing in oil dave

hedge your oil consumption

If I had money I would buy up a bunch of tankers just like the oil thugs are doing.

They are going to make a killing when they jack the price back up over $100

 

[michal1980]

If I had money I would buy up a bunch of tankers just like the oil thugs are doing.

They are going to make a killing when they jack the price back up over $100

why tankers?

efts

 

[dmcowen674]

why tankers?

efts

I'll take a picture tomorrow, they are filling a huge field here full of tanker cars.

 

[michal1980]

I'll take a picture tomorrow, they are filling a huge field here full of tanker cars.

over your head.

no need to buy tankers. buy ETFs.

 

[dmcowen674]

I saw what you wrote but it's like gold, better to have the black gold physically.

Oil back up to $37, getting back towards $40 steady but shirley.

 

[Drako]

I saw what you wrote but it's like gold, better to have the black gold physically.

Oil back up to $37, getting back towards $40 steady but shirley.

Shirley you jest.

 

[michal1980]

I saw what you wrote but it's like gold, better to have the black gold physically.
.

don't let 'perfect be the enemy of good. '

 

[Brovane]

If I had money I would buy up a bunch of tankers just like the oil thugs are doing.

They are going to make a killing when they jack the price back up over $100

Who is going to jack the price back to $100 barrel?

 

[Londo_Jowo]

Who is going to jack the price back to $100 barrel?

Haven't you been paying attention over the last 5 years? It's those evil oil thugs!!!!

 

[fskimospy]

Haven't you been paying attention over the last 5 years? It's those evil oil thugs!!!!

I'm confused, if the 'oil thugs' are planning on stockpiling oil when it's cheap and then reselling it when it's $100 a barrel, aren't they primarily screwing over people who are selling oil now... ie: the 'oil thugs'? Stockpiling something when it's cheap and selling it when it's expensive is a perfectly good business strategy, but it doesn't work when the person you're buying it from to stockpile is yourself.

I'm genuinely confused as to the conspiracy Dave is alleging.

 

[Londo_Jowo]

I'm confused, if the 'oil thugs' are planning on stockpiling oil when it's cheap and then reselling it when it's $100 a barrel, aren't they primarily screwing over people who are selling oil now... ie: the 'oil thugs'? Stockpiling something when it's cheap and selling it when it's expensive is a perfectly good business strategy, but it doesn't work when the person you're buying it from to stockpile is yourself.

I'm genuinely confused as to the conspiracy Dave is alleging.

I don't think he knows what he alleges from day to day in these oil/gas price threads. He rants on the price being high while cheer leading the rise in prices.

 

[Brovane]

I don't think he knows what he alleges from day to day in these oil/gas price threads. He rants on the price being high while cheer leading the rise in prices.

If Dave took a step back for a second and clearly looked at the situation he can see Macroeconomics at work with oil prices. When Oil was $100+ barrel there was a very strong incentive to explore and get Oil from un-conventional sources like Shale Oil, Oil Sands and also extract Oil from difficult areas like the Artic. Once the production has increased we have seen a overall decrease in Oil prices because there is more oil out there and demand. That is why US Oil Production is at a 25-year high. Now the market is going to go through a correction. However if the price gets high again 100+ you will see increase in production again.