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nnuut said:
Brace yourself, you might think about breaking out the bicycles or something like this!:o View attachment 10402

Gas prices: Bracing for more pain at the pump


NEW YORK (CNNMoney.com) -- Drivers may be bracing for more pain at the pump in 2011 as gas prices continue to head higher.
The price for a gallon of gas has risen 3% over the past 12 days and last week, prices crossed the $3 mark for the first time since October 2008. At $3.073 a gallon, gas prices are still 25% below their peak of $4.114 set in July 2008.
http://money.cnn.com/2010/12/30/markets/oil_commodities_gas/index.htm
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If this keeps up...Say GOODBYE to Economic Recovery and HELLO again to the double dip recession.

DRILL BABY DRILL
 
01/03/2011 - Updated 8:48 AM ET
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At two-year high, crude prices continue climb
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By MarketWatch,

NEW YORK (MarketWatch) — Crude-oil futures topped $92 a barrel on Monday as traders wagered the U.S. economic recovery will gain traction and fuel stronger demand by the word’s biggest consumer of the commodity in 2011.http://markets.usatoday.com/custom/...S&guid={247573F6-173A-11E0-80E4-00212804637C}
 
At $3.073 a gallon, gas prices are still 25% below their peak of $4.114 set in July 2008.

Is that for watered down ethanol or real Gas?

Mine costs $3.25 a gal. now.
 
tonnes of oil

what is a tonne?

is that like tonne deaf. Like the US congress and Ohaha when it comes to US energy
 
One tonne is equivalent to:[citation needed]
  • One megagram (exactly);
    • This is the official SI term, but generally not used in industry or shipping, nor colloquially
  • 1000⁄0.45359237 pounds (exactly by definition), giving approximately
    • 2205 lb (to four significant digits)
  • 98.42% of a long ton
    • One long ton (2,240 lb) is 101.605% of a tonne
  • 110.23% of a short ton
    • One short ton (2,000 lb) is 90.72% of a tonne
http://en.wikipedia.org/wiki/Tonne
 
01/03/2011 - Updated 11:08 AM ET
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At two-year high, crude prices extend climb Crude-oil futures top $92 a barrel
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By Laura Mandaro, MarketWatch

NEW YORK (MarketWatch) — Crude-oil futures topped $92 a barrel on Monday as traders wagered the U.S. economic recovery will gain traction and fuel stronger demand by the word’s biggest consumer of the commodity in 2011.
Crude for February delivery [CLG11] rose 88 cents, or 1%, to $92.26 a barrel on the New York Mercantile Exchange.
http://markets.usatoday.com/custom/...S&guid={247573F6-173A-11E0-80E4-00212804637C}
 
Watching on a daily basis. At what point does it have a negative (more than a day) affect on the market.
 
WorkFE said:
Watching on a daily basis. At what point does it have a negative (more than a day) affect on the market.
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A drop in Crude Oil Futures has been effecting the markets on a daily basis for a while, Oil up dollar down Market up no waiting, and Versa Visa. As far as effecting Gasoline prices it takes a while to trickle down to that level.:)
 
100, 110, 120 where is it headed and what does it mean. I don't see output going up anytime soon, considering we have dismantled all of our production and OPEC likes the price.
One of those numbers will put a grip on any recovery.
 
With a R House the D WH doesnt care about a Recovery - The worse it gets the Ds will blame it all on the Rs and the T party.

Pols main concern is Power and not People.
 
WorkFE said:
100, 110, 120 where is it headed and what does it mean. I don't see output going up anytime soon, considering we have dismantled all of our production and OPEC likes the price.
One of those numbers will put a grip on any recovery.
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That's a good question, but I can see that the Obama Administration is doing nothing to keep the price of energy down, just the opposite. It's a plan for disaster and every day it gets worse. Gas at $4 a gallon will suck the good out of the recovery (if there is one) in a flash, $5 a gallon will put us under if it stays at that level or higher too long. If by some freak accident the FED let's the dollar rise out of the doldrums that would help, but I don't see that in the near future. It really looks bad to me. :(
 
I believe the proportion oil was at 140plus when gas was 4.11 July 2008. Today oil at 90.00 a barrel and we are already at $3.25 a gallon here, i think profit is bigger currently. just my thought? am i wrong?
 
Bubba said:
I believe the proportion oil was at 140plus when gas was 4.11 July 2008. Today oil at 90.00 a barrel and we are already at $3.25 a gallon here, i think profit is bigger currently. just my thought? am i wrong?
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You're right about the price of Oil and gas in July of 2008, as far as profits are concerned it's probably the fall of the dollar that is driving up costs and of course demand. Dollar goes up Gas and Oil go down in price.
http://money.cnn.com/2008/07/10/markets/oil/index.htm?cnn=yes

Question: How many gallons of gasoline does one barrel of oil make?
U.S. refineries produce between 19 and 21 gallons of motor gasoline from one barrel (42 gallons) of crude oil. The remainder of the barrel yields distillate and residual fuel oils, jet fuel, and many other products. Refinery yields of individual products vary from month to month as refiners focus operations to meet demand for different products and maximize profits.
http://www.eia.doe.gov/ask/gasoline_faqs.asp#gallons_per_barrel

Answers to plenty of questions about Gas and Oil:
http://www.eia.doe.gov/ask/gasoline_faqs.asp
 
Why gas costs more--and is more profitable--out West

western_oil_market.top.jpg

By Shelley DuBoisJanuary 3, 2011: 4:06 PM ET

FORTUNE -- In the cutthroat fuel industry, some refiners are pulling ahead by taking advantage of a quirk in the United States gasoline market. Gas prices in the U.S. fluctuate with the global, volatile oil market, but gasoline prices within the country are far from uniform. Part of that is because the Western market requires a different, more expensive mixture than the gasoline sold in states near the Gulf of Mexico.
http://money.cnn.com/2011/01/03/news/economy/western-US-oil-gas-prices.fortune/index.htm
 
01/04/2011 - Updated 9:48 AM ET

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Crude oil retreats ahead of Fed, data
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By Nick Godt, MarketWatch

NEW YORK (MarketWatch) — Crude-oil futures slumped from two-year highs on Tuesday, as investors awaited minutes from the Federal Reserve’s latest monetary policy meeting and estimates of U.S. weekly petroleum inventories.
Crude oil for February delivery [CLG11] fell 66 cents, or 0.8%, to $90.86 a barrel.
Investors will key in on the release of the Fed’s minutes this afternoon for further clues about the central bank’s measures to support the U.S. economy, in light of recent improving data.
After the close, the American Petroleum Institute will release its estimates of weekly U.S. petroleum inventories, ahead of the official report from the Energy Department on Wednesday.http://markets.usatoday.com/custom/...S&guid={35B0E494-180B-11E0-80E4-00212804637C}
 
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