Oil Slick Stuff

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Crude Oil - Electronic (NYMEX) Jun 2012, CLM2 Future Quote - (NMN) CLM2, Crude Oil - Electronic (NYMEX) Jun 2012 Future Price

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nnuut said:
That is a problem, the current Administration won't touch that with a 10' pole. It seems that for some reason they like the price of oil high?
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Also the current admin has now endorsed same sex marriages to sweetin his voter base numbers..:rolleyes:
 
nnuut said:
Regular 10% moonshine down 2 cents today to $3.28 a gallon in Boiled Peanut GA.
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I don't want to see anyone AGAIN saying it's because of CUSHING OK is why our prices are cheap, because that is total BullSh!t and you don't know what the hell you're talking about!...Today, gas rose again to $3.40...
 
Buster said:
I don't want to see anyone AGAIN saying it's because of CUSHING OK is why our prices are cheap, because that is total BullSh!t and you don't know what the hell you're talking about!...Today, gas rose again to $3.40...
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You know how the Market thinks ahead, the pipeline to the GOM has raised the price of gas because it will release the excess in Cushing.JMHO
 
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Buster said:
I don't want to see anyone AGAIN saying it's because of CUSHING OK is why our prices are cheap, because that is total BullSh!t and you don't know what the hell you're talking about!...Today, gas rose again to $3.40...
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The highest and lowest price around here is $3.55 and $3.25, it depends where you buy GAS! If you take the average that's $3.40 a gallon.
I use: http://www.gasbuddy.com/
 
Crude Falls 1% As Bearish News Piles Up
by Dow Jones Newswires
|
Ben Lefebvre
|
Friday, May 11, 2012
Crude-oil futures settled lower on a spate of negative news Friday, including word of ample crude supply, discouraging signs for economic growth and revelations of a $2 billon trading loss at J.P. Morgan Chase & Co.
Late Thursday, J.P. Morgan disclosed the loss on an illiquid hedge position--and handed ammunition to reformers who want tighter regulation of financial markets. Such regulation could limit the level of risk allowed in futures markets, such as crude oil.
"J.P. Morgan could definitely be the straw that brings more regulation," said Andy Lebow, analyst at Jefferies & Co.
An end-of-day barrage of selling sent light, sweet crude prices to $96.13 a barrel--down 1%, or 95 cents, on the June contract on the New York Mercantile Exchange. The decline was the seventh out of the last eight sessions.
June Brent crude futures fell 47 cents a barrel, or 0.4%, to $112.26 on the Intercontinental Exchange.
J.P. Morgan's loss was only the latest in a stream of news weighing on market sentiment.
"The bearish fundamentals are just piling up this week," said PFG Best analyst Phil Flynn. "A lot of the reasons we were buying oil before are going away."
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RIGZONE - Crude Falls 1% As Bearish News Piles Up
 
Oil Traders Fear New Regulations Will Lead To Higher Costs:cool:
by Dow Jones Newswires
|
Sarah Kent
|
Friday, May 11, 2012

LONDON - The oil market is bracing itself for a wave of change as contentious regulations begin to come into effect this year, just as soaring oil prices shine a spotlight on the issue of market oversight.
High gasoline prices in the U.S. and Europe-the two regions seeking to undertake serious regulatory overhauls-have added weight to the push for tougher market supervision, which began in 2008 when prices spiked to record highs just as the financial crisis hit.
Proposed regulatory changes, some of which have already been passed into law, include restrictions on the size of investors' commodity holdings, tougher rules on transparency and insider trading and a push for more products not traded on exchanges to go through central clearing houses. These identify the obligations both sides of a trade have to a contract and also take on the credit risk.
However, market participants have raised concerns that restrictions on the size of holdings might discourage financial players from participating in the market, while more stringent regulatory obligations and a push to clear the majority of products could increase prices. The overall result, they say, may be less market liquidity and increased volatility-exactly the reverse of what was intended.
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RIGZONE - Oil Traders Fear New Regulations Will Lead To Higher Costs
 
Regular 10% averaging $3.24 a gallon down 4 cents, I like it!:laugh:
Actual prices range from $3.14 to $3.34.
 
Buster said:
I don't want to see anyone AGAIN saying it's because of CUSHING OK is why our prices are cheap, because that is total BullSh!t and you don't know what the hell you're talking about!...Today, gas rose again to $3.40...
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Let's see Buster- according to the Gasbuddy map, Oklahoma has some of the lowest prices in the country, along with Missouri and Arkansas, which also is near the Cushing Oil Patch backup.

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So...if it's not the oil backup at Cushing that causes your prices to be significantly less than most of the rest of the nation, what else would you attribute it to?
 
Some math:

Spot price of Unleaded Gasoline on the CME as of last Friday (haven't look to see if we have rolled over to next month's contract yet, sorry): $3.00/gal


Total tax(including federal):
Oklahoma's gasoline tax: $0.354/gal
Florida's gasoline tax: $0.534
California's gasoline tax: $0.690
Georgia's gasoline tax: $0.478
Michigan's gasoline tax: $0.613


Math wins! Math wins! Math wins!
 
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