Buster
Well-known member
I know..but it's like that here..when it spikes, it spikes hard..It's like they are trying to make as much as possible all at once..
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Oil Slick Stuff
- Thread starter nnuut
- Start date
konakathy
Well-known member
Wow! We will NEVER see those prices in Hawaii. Gas did go down to $3.89 at Costco and at Aloha Gas. But the other companies are hovering around $4.00.
nnuut
Moderator | TSP Legend
It's the state taxes, the best thing to do is to VOTE for someone that will stop the crazy giveaways they have over there. I EARLY VOTED yesterday, now it's a sure thing that GEORGIA is a RED STATE!
Buster
Well-known member
That's not too bad considering all your fuel must be shipped in...but compared to the Left Coast...it's seems cheaper.
nnuut
Moderator | TSP Legend
[h=1]Oil will tumble to $70 says new 'bond king'[/h] By Matt Egan @mattmegan5 October 23, 2014: 12:31 AM ET
NEWPORT BEACH, CALIFORNIA (CNNMoney)
[h=2]The meltdown in the oil market is not over yet.[/h] That's the message from Jeffrey Gundlach, the star bond investor who predicts oil will plunge another $10 (it's $80 a barrel now).
While another decline in oil prices would bring smiles to American consumers -- think around $2.70 a gallon at the pump as a national average -- it could spell trouble for the boom in shale projects boosting the U.S. economy. [more]
Oil will tumble to $70 says new 'bond king' - Oct. 23, 2014
NEWPORT BEACH, CALIFORNIA (CNNMoney)
[h=2]The meltdown in the oil market is not over yet.[/h] That's the message from Jeffrey Gundlach, the star bond investor who predicts oil will plunge another $10 (it's $80 a barrel now).
While another decline in oil prices would bring smiles to American consumers -- think around $2.70 a gallon at the pump as a national average -- it could spell trouble for the boom in shale projects boosting the U.S. economy. [more]
Oil will tumble to $70 says new 'bond king' - Oct. 23, 2014
Buster
Well-known member
Got us beat for a change..E10 at $2.79
$80 to $90 a bbl is acceptable for everyone to win.
nnuut
Moderator | TSP Legend
RealMoneyIssues
Well-known member
Hmmm, my gas prices are not going down... dang it
Still $1/gal around here for premium...
Still $1/gal around here for premium...
konakathy
Well-known member
ha ha, funny guy ! You just wait until you get back to the States....or for another visit to Hawaii. You'll wish you had those prices. :notrust:
Lucky dog.
konakathy
Well-known member
How much does it cost to fill up a surfboard?
I really hope you get to see $2.60ish pricing in Hawaii -- fingers crossed!
Dooooood ! The fuel is in the motion of the ocean...it's free!!! Saaaaweet !!
Gas just went up over $4.00 again...the $2 range will never happen. Our state really needs to aggressively become energy independent and rely less and less on fossil fuel. Electricity is the highest in the nation @47cents per kw...which raises prices on everything. My electric bill is on average $108 a month and I don't have AC !
With Hawaii's endless renewable energy potential, we plan to generate 40% of power from clean resources by 2030. Hawaii will become the nation's leader in renewable energy. Aloha 'Aina !
Hawaii Clean Energy Initiative - Hawaii Clean Energy Initiative - Home
nnuut
Moderator | TSP Legend
Study: Oil, Gas Drilling Activities Provide Major Economic Stimulus for US
by Gene Lockard
Rigzone Staff
Friday, October 24, 2014
The economic benefits to the United States from the energy industry have more than doubled in just the past ten years, even after accounting for inflation, according to a new study by The Perryman Group. The growth in the industry is worth about $1.2 trillion in gross product each year, the study noted, adding that the growth in the oil and gas industry since the economic recession has been “dramatic.” In fact, since the start of the economic recovery, the energy industry has contributed about 30 percent of the total job growth for the nation, Dr. Ray Perryman, president and CEO of The Perryman Group, said.
While it is generally recognized that a thriving oil and gas sector helps to create new jobs within and outside of the energy sector, it is less well-recognized just how important the industry is to overall employment. However, the study shows just how large a role the energy industry plays in the number of new jobs in the country.
When the multiplier effect was added to the number of jobs directly generated by upstream activity in the industry, there were 9.3 million jobs – or 7 percent of the overall economy – generated in the United States, according to The Perryman Group study. That is about 7 percent of the overall economy.
Crude oil production levels are as high as they were in the late 1980s, and they are still climbing. U.S. production was nearly 2.4 billion barrels in 2012, and climbed to 2.7 billion in 2013. By the end of 2014, the United States is likely to be the world’s largest crude oil producer, Perryman said.
The run-up in production in recent years was tied to the combination of horizontal drilling with hydraulic fracturing in shale formations, the study said. It noted that in North Dakota, which is still developing the support industries more commonly seen in states with historically high oil production, the industry has contributed more than 100,000 of the state’s 500,000 jobs, thanks to oil and gas production in the Bakken Shale.
- See more at: RIGZONE - Study: Oil, Gas Drilling Activities Provide Major Economic Stimulus for US
by Gene Lockard
Rigzone Staff
Friday, October 24, 2014
The economic benefits to the United States from the energy industry have more than doubled in just the past ten years, even after accounting for inflation, according to a new study by The Perryman Group. The growth in the industry is worth about $1.2 trillion in gross product each year, the study noted, adding that the growth in the oil and gas industry since the economic recession has been “dramatic.” In fact, since the start of the economic recovery, the energy industry has contributed about 30 percent of the total job growth for the nation, Dr. Ray Perryman, president and CEO of The Perryman Group, said.
While it is generally recognized that a thriving oil and gas sector helps to create new jobs within and outside of the energy sector, it is less well-recognized just how important the industry is to overall employment. However, the study shows just how large a role the energy industry plays in the number of new jobs in the country.
When the multiplier effect was added to the number of jobs directly generated by upstream activity in the industry, there were 9.3 million jobs – or 7 percent of the overall economy – generated in the United States, according to The Perryman Group study. That is about 7 percent of the overall economy.
Crude oil production levels are as high as they were in the late 1980s, and they are still climbing. U.S. production was nearly 2.4 billion barrels in 2012, and climbed to 2.7 billion in 2013. By the end of 2014, the United States is likely to be the world’s largest crude oil producer, Perryman said.
The run-up in production in recent years was tied to the combination of horizontal drilling with hydraulic fracturing in shale formations, the study said. It noted that in North Dakota, which is still developing the support industries more commonly seen in states with historically high oil production, the industry has contributed more than 100,000 of the state’s 500,000 jobs, thanks to oil and gas production in the Bakken Shale.
- See more at: RIGZONE - Study: Oil, Gas Drilling Activities Provide Major Economic Stimulus for US
nnuut
Moderator | TSP Legend
WoodMac: US to Achieve Energy Independence by 2025
by Karen Boman
|
Rigzone Staff
|
Friday, October 24, 2014
- See more at: RIGZONE - WoodMac: US to Achieve Energy Independence by 2025
by Karen Boman
|
Rigzone Staff
|
Friday, October 24, 2014
- See more at: RIGZONE - WoodMac: US to Achieve Energy Independence by 2025
nnuut
Moderator | TSP Legend
This may be contributing to your rising Gas prices?E10 jumped UP another dime overnight to $2.89..It's higher now from when gas was @$90 a bbl...WTF!?!
Oil Dives After Big US Weekly Crude Stock Build
by Reuters
|
Sam N. Adams
|
Wednesday, October 22, 2014
- See more at: RIGZONE - Oil Dives After Big US Weekly Crude Stock Build
Buster
Well-known member
Consider that this was on CNBC ....for laughs:laugh:
"Dennis Gartman has a new forecast for oil: a lot lower.In an appearance on CNBC's Fast Money on Monday, Gartman, publisher of the Gartman Newsletter, said that crude oil prices will fall demonstrably from current levels.
Earlier on Monday, it had been reported that Gartman saw crude oil going to $10 a barrel, but he backed a bit off that claim in his appearance on Monday, saying that maybe next time he ought to be a bit more circumspect when he talks to CNBC's producers.
But the central spirit of Gartman's not quite $10 call was still intact, with Gartman saying simply that the era of oil is over. At one point, Gartman went so far as to compare crude oil to whale oil, which became obsolete following the advent of crude in the early 20th century.
In discussing the "end of oil," Gartman referenced news from Lockheed Martin earlier this month that the aerospace giant has made a technological breakthrough in developing a power source based on nuclear fusion. And while Business Insider's Jessica Orwig reported that some in the scientific community are skeptical of this breakthrough, Gartman sees the potential in this breakthrough as being something of a death knell for oil.
Gartman also referenced other factors weighing on oil prices, namely a supply glut and a market that is contango.
A market is said to be in contango when the futures contract for a commodity is more than what the expected price will be in the future.
So basically, if I pay $80 for a futures contract for a barrel of oil I want to get next year, but if expectations are that the spot price of a barrel of oil will be $60 in a year, the futures contract — again, assuming the spot price doesn't move — will have to fall.
This is all a bit oversimplified.
But Gartman's central point is that things look absolutely terrible for crude oil, and while Gartman was reticent to commit to his $10 a barrel call, he added that "it doesn't really matter" where oil prices go exactly, except that they are definitely going lower.
Gartman's comments come after what was an ugly morning for oil, which fell below $80 a barrel for the first time since June 2012.
The tumble in oil came after analysts at Goldman Sachs cut their price target on WTI crude oil to $70 by the second quarter of next year.
In his note, Goldman Sachs analyst Jeff Currie wrote:
"We are lowering our oil price forecast to reflect the required slowdown in US production growth: our WTI crude oil forecast is $75/bbl for 1Q15 and 2H15 (from $90/bbl previously). Given our unchanged WTI-Brent spread forecast of $10/bbl, our Brent forecast is now $85/bbl ($100/bbl previously)... Our 2016 and long-term forecasts are now $80/bbl WTI, $90/bbl Brent. Uncertainty around the required price to slow down US shale production growth is a key risk to our price forecast."
"Dennis Gartman has a new forecast for oil: a lot lower.In an appearance on CNBC's Fast Money on Monday, Gartman, publisher of the Gartman Newsletter, said that crude oil prices will fall demonstrably from current levels.
Earlier on Monday, it had been reported that Gartman saw crude oil going to $10 a barrel, but he backed a bit off that claim in his appearance on Monday, saying that maybe next time he ought to be a bit more circumspect when he talks to CNBC's producers.
But the central spirit of Gartman's not quite $10 call was still intact, with Gartman saying simply that the era of oil is over. At one point, Gartman went so far as to compare crude oil to whale oil, which became obsolete following the advent of crude in the early 20th century.
In discussing the "end of oil," Gartman referenced news from Lockheed Martin earlier this month that the aerospace giant has made a technological breakthrough in developing a power source based on nuclear fusion. And while Business Insider's Jessica Orwig reported that some in the scientific community are skeptical of this breakthrough, Gartman sees the potential in this breakthrough as being something of a death knell for oil.
Gartman also referenced other factors weighing on oil prices, namely a supply glut and a market that is contango.
A market is said to be in contango when the futures contract for a commodity is more than what the expected price will be in the future.
So basically, if I pay $80 for a futures contract for a barrel of oil I want to get next year, but if expectations are that the spot price of a barrel of oil will be $60 in a year, the futures contract — again, assuming the spot price doesn't move — will have to fall.
This is all a bit oversimplified.
But Gartman's central point is that things look absolutely terrible for crude oil, and while Gartman was reticent to commit to his $10 a barrel call, he added that "it doesn't really matter" where oil prices go exactly, except that they are definitely going lower.
Gartman's comments come after what was an ugly morning for oil, which fell below $80 a barrel for the first time since June 2012.
The tumble in oil came after analysts at Goldman Sachs cut their price target on WTI crude oil to $70 by the second quarter of next year.
In his note, Goldman Sachs analyst Jeff Currie wrote:
"We are lowering our oil price forecast to reflect the required slowdown in US production growth: our WTI crude oil forecast is $75/bbl for 1Q15 and 2H15 (from $90/bbl previously). Given our unchanged WTI-Brent spread forecast of $10/bbl, our Brent forecast is now $85/bbl ($100/bbl previously)... Our 2016 and long-term forecasts are now $80/bbl WTI, $90/bbl Brent. Uncertainty around the required price to slow down US shale production growth is a key risk to our price forecast."