Oil hits $103.00 per barrel....

Mark Eatherton

That works out to $2.45 per gallon.



Keystone business practices means it will sell for 2 times that amount, plus taxes, and transportation, or around $5.00 per gallon...



Guess the executive from Shell Oil who predicted $5.00 per gallon gas prices for this summer wasn't talking out of his hat.



Bet we see a BUNCH of Hummers and Escalades pop up for sale on the side of the road for REAL cheap.



Glad I am on natural gas. Wish I could (inexpensively) convert my vehicle to natural gas.



I feel sorry for senior citizens who are stuck on oil as a heat source.



Hang on for a rough ride. We're at $3.10 per gallon for regular here in Denver, and I understand that is LOW compared to other places in the US.



Turmoil in the East driving prices higher. What really sucks is that they don't provide THAT much of our oil consumption....



ME

Jean-David Beyer

Gas prices here and there...

We're at $3.10 per gallon for regular here in Denver, and I understand that is LOW compared to other places in the US.



When I started driving in 1961, regular was $0.20/gallon for regular. I had a little sports car, and I had difficulty getting more than $3.00 worth into the tank. Yesterday I bought between 12 and 13 gallons and it cost $45.00. I cannot remember price per gallon, but Premium was $3.60/gallon.



When I bought this house, it was oil heated and oil cost about $0.40/gallon in 1976. The last time I bought oil, in 2008, it cost about $4.00/ gallon. Last month, natural gas was $1.3575/therm, including delivery and monthly service charge

ScottMP

Just filled up

At 3.59 a gallon.... $ 65.00 to fill my Toyota .... NEVER have I paid that much.

Tim McElwain

Gas in Rhode Island

between 3.49 to 3.79  per gallon depends on were you go.

Sal Santamaura

"We're at $3.10 per gallon for regular here in Denver..."

Yes, that's low compared to the stations I just passed on my way to work here in southern California.  Typical for regular is $3.95 per gallon.

Steamhead

And natural gas

won't take long to catch up. Always does. 

Jean-David Beyer

I wonder how long it will take for gas to catch up.

On the one hand, I would expect the gas companies to raise their prices as high as they can without causing people to switch to oil, solar, electricity, or geothermal. This price increase will lag somewhat as public utilities, at least around here, would have to agree to these increases. Here in New Jersey, the opposite is happening. The gas companies petition the PUC to allow rate reductions. Probably to get people to convert from oil to gas. The PUC is allowing this, probably to get the underground oil tanks removed.



On the other hand, with all this newly available hydraulic fractured gas coming on line, there is a glut of the stuff at the moment. Until more power companies convert over to natural gas, assured that prices will stay low, that glut will not be reduced until environmentalists become able to convince the governments that the destruction of water supplies is too expensive to allow hydraulic fracturing to continue. I have no clue how long it would take for this to happen, if it ever does.

will smith_4

Price spikes-

Are due to the fact that traders can speculate and make a killing in artificially raising the price of oil. It has nothing to due with the current situation in Libya-production there has not changed 1 percent, and to boot, we get most of our oil from Canada. I think it should be illegal to trade anything that at the end of the day could lead to global recession.

Per the Dead Men-you know one item that you used to be able to trade in futures that you can't anymore and why?

icesailor

Price Spikes:

The price rise is all speculation by the Maul Street Banksters, Gangsters and derivative traders. There's a financial system for us poor slobs and idiots that keep us with just barely enough to survive and another one for the Maul Street Banksters where they are guaranteed a profit for the members of their exclusive club. The price is all speculation. The commodity traders own the world. They own ALL the commodities in the world. If you can buy it, they control the commodity that is needed to use it.

You won't hear this on Faux Noise, whose send largest investor/owner (after Ruppy "Murder The Dems" Murdoch) is a wealthy Saudi. The regime change in Egypt and Libya are less about "Democracy" and more about the middle class being PO'ed about food prices becoming a much greater cost and effecting their life style than the little guys like us. I got a thing in my oil delivery showing that for every barrel of oil consumed by use, is traded on the market up to 40 times.

If an oil company or a Maul Street prognosticator can predict that something "might" happen and it does, that is inside trading. They control the market at our expense. The most profitable Corporation in the world is Exxon Mobil. They pay no US taxes, get huge subsidies from us to keep prices low, and we are terrified that the price of energy will go up. Duh, it is always going up.

The price of food commodities is through the roof. The water speculators are buying up all the publicly owned water systems so they can control the price and availability. The water conglomerates are buying up the private water companies to control price and availability.

Did Faux Nuisance tell you what the real reason for the revolution/regime change in Bolivia a few years ago? The old Government sold ALL water rights in the country to a foreign water conglomerate. They controlled the water in every part of the country. They could charge whatever they wanted, the populace had no choice. They squeeze the last Peso (or whatever they call the Bolivian currency),from the populace. They got the government to rule that even the water that fell from the sky as rainfall belonged to the water conglomerate and the water collected from roofs and saved in barrels could be taxed as water usage. That pushed them, the populace, over the edge. Time for a revolution.

I'm tired of paying for the lifestyles of the rich and unfamous.

Follow the money

icesailor

Price Spikes:

The price rise is all speculation by the Maul Street Banksters, Gangsters and derivative traders. There's a financial system for us poor slobs and idiots that keep us with just barely enough to survive and another one for the Maul Street Banksters where they are guaranteed a profit for the members of their exclusive club. The price is all speculation. The commodity traders own the world. They own ALL the commodities in the world. If you can buy it, they control the commodity that is needed to use it.

You won't hear this on Faux Noise, whose send largest investor/owner (after Ruppy "Murder The Dems" Murdoch) is a wealthy Saudi. The regime change in Egypt and Libya are less about "Democracy" and more about the middle class being PO'ed about food prices becoming a much greater cost and effecting their life style than the little guys like us. I got a thing in my oil delivery showing that for every barrel of oil consumed by use, is traded on the market up to 40 times.

If an oil company or a Maul Street prognosticator can predict that something "might" happen and it does, that is inside trading. They control the market at our expense. The most profitable Corporation in the world is Exxon Mobil. They pay no US taxes, get huge subsidies from us to keep prices low, and we are terrified that the price of energy will go up. Duh, it is always going up.

The price of food commodities is through the roof. The water speculators are buying up all the publicly owned water systems so they can control the price and availability. The water conglomerates are buying up the private water companies to control price and availability.

Did Faux Nuisance tell you what the real reason for the revolution/regime change in Bolivia a few years ago? The old Government sold ALL water rights in the country to a foreign water conglomerate. They controlled the water in every part of the country. They could charge whatever they wanted, the populace had no choice. They squeeze the last Peso (or whatever they call the Bolivian currency),from the populace. They got the government to rule that even the water that fell from the sky as rainfall belonged to the water conglomerate and the water collected from roofs and saved in barrels could be taxed as water usage. That pushed them, the populace, over the edge. Time for a revolution.

I'm tired of paying for the lifestyles of the rich and unfamous.

Follow the money

Gordy

104.42= 3.54gal here

 Its been as high as 147.00 back in 08. 





Buy on the news sell, on the news. Its always been the wall street game. 

You never know the real angle behind the scenes.  Could be a way to force feed the alternative energy markets to the consumer.  Promote more drilling. Get people to buy electric, and flex fuel automobiles. This is how wall street runs the country with the news as a back drop to their real agenda. 





The Middle East is a pressure cooker ready to pop its cork though.  People are sick, and tired. Can't say I blame them. Same fat cat leaders for decades. Can you imagine having a leader for that long.





 I'm thinking about everything that involves transportation going up when I see the price of oil go up.  In the end you pay more for everything. What goes in our own vehicles is the least of our worries. This is going to cripple the "Slow Go" economy we are engaged in now, if oil is going to stay high long term.



Gordy

Jean-David Beyer

I do not know how much oil we get from Libya.

But from what I read, their oil production is down 50%, not just down 1%. It may be that their shortfall, weighed by the US use of their oil is only 2% of our consumption, thus reducing our imports by 1%. It is hard to tell the actual numbers because it is so dangerous for reporters to get in there, and the quality of our news sources is so poor and so biased.



One hope for oil importers is that Saudi Arabia could increase its production, but hey seem unable to raise production, both due to lack of facilities, and due to their diminishing reserves. Some oil minister there recently revealed that the economically recoverable oil there is about 40% less than previously supposed, and that they are having trouble even maintaining current levels of production.