Like the illusion of Wall Street, with its vast and powerful investment banks, now shuttered, China too is an illusion perpetuated by the Globalists that gave us the 15,000 mile Caesar salad, poisoned cat food and lead based paint on babies' pacifiers. Like the illusion that money would come from thin air to always push housing prices higher, China has spent a generation pursuing its illusion. Pursuing an unattainable dream to be like the West, while 6000 years of its carefully shepherded top soil blows into the sea.
Posted: Thu Jul 06, 2006 6:36 am Post subject: $3 gas feared by this weekend
"Recent snags in oil-shipping and refining along the Gulf Coast have raised traders' concerns about motor-fuel supplies at a time when demand continues to rise despite soaring prices. The start of a new fiscal quarter also has brought more speculative money into the market, brokers said.
"Everybody thought we'd hit a price that would create permanent demand destruction. But demand for gasoline is rising," said Alaron Trading Corp. analyst Phil Flynn. "Once again, the American public has shown its ability to get over paying high prices for gasoline."
Oil prices jumped to a record above $75 a barrel yesterday, propelled by a rally in gasoline that analysts said could send average U.S. pump prices past $3 a gallon by the weekend."
Joined: Sep 14, 2004 Posts: 6625 Location: Rural Virginia
Posted: Thu Jul 06, 2006 6:49 am Post subject: Re: $3 gas feared by this weekend
Oil is at record levels but gasoline prices seem to be mysteriously lagging, compared with last year's run-up.
Right now the surefire catalyst for $80 oil would be a Gulf-bound hurricane. But hurricanes don't seem to be materializing (although it's still fairly early in the season). Since hurricanes have been hyped so vigorously, I wouldn't be surprised to see this hurricane season be a big flop. _________________ "Actually, humans died out long ago."
---Abused, abandoned hunting dog
"Things have entered a stage where the only change that is possible is for things to get worse."
---Me and my brother
Posted: Thu Jul 06, 2006 6:54 am Post subject: Re: $3 gas feared by this weekend
Here in north-east Indiana gas went to $3.09 yesterday, and we are normally 10-15 cents below the national average.
I believe that the breaking of the $3 barrier to be a major milestone. But there is little, or no demand destruction around here. My dad lives year round in a lake house that is surrounded by hundreds of summer only lake homes. Most of the folk who own these homes burn a lot of gas traveling the 100+ miles each weekend to reach the lake. Then they spend the weekend consuming even more gas in their speed boats, jet skis, and lawn care equipment.
Considering all the gas these folks use, one would think that $3 gas would put a bit of a dent in the party. But, according to the local newspaper, area gas stations are pumping more gas than ever.
Demand destruction!! We ain't got no stinking demand destruction!! _________________ I'd rather get my brains blown out in the wild than wait in terror at the slaughterhouse.
Craig Volk, Northern Exposure, A-Hunting We Will Go, 1991
Posted: Thu Jul 06, 2006 7:16 am Post subject: Re: $3 gas feared by this weekend
In the $2.90s here in NE Atlanta and folks are still roaring along the interstates and GA-400 at 80+ mph in their big SUVs and crew cab pickups. I really think we would have to see $4.50+ per gallon before it really becomes a burden around here. An exta $30-50 a tank for a fillup just isn't causing much economic pain.
Joined: Jun 08, 2005 Posts: 329 Location: Cascadia
Posted: Thu Jul 06, 2006 7:22 am Post subject: Re: $3 gas feared by this weekend
We've just recently dropped below $3 around Seattle at some stations for the last couple weeks. Being above $3 didn't seem to slow down demand around here...... Hard to say what the magic number will be.... $4?
Joined: Apr 03, 2004 Posts: 7024 Location: My Grandkids' Farm
Posted: Thu Jul 06, 2006 7:28 am Post subject: Re: $3 gas feared by this weekend
Heineken wrote:
Oil is at record levels but gasoline prices seem to be mysteriously lagging, compared with last year's run-up.
I was wondering the other day why diesel is now more expensive than unleaded; as far back as I can remember it was always cheaper.
Could it be that diesel is more of a requirement for business and some of the added cost can be passed done the chain to the consumer – kind of hidden, while keeping the price of gas relatively lower so as not to affect demand?
Or is there a more straightforward answer? _________________ Make a plan and work it:
Joined: Sep 14, 2004 Posts: 6625 Location: Rural Virginia
Posted: Thu Jul 06, 2006 7:50 am Post subject: Re: $3 gas feared by this weekend
Pops wrote:
Heineken wrote:
Oil is at record levels but gasoline prices seem to be mysteriously lagging, compared with last year's run-up.
I was wondering the other day why diesel is now more expensive than unleaded; as far back as I can remember it was always cheaper.
Could it be that diesel is more of a requirement for business and some of the added cost can be passed done the chain to the consumer – kind of hidden, while keeping the price of gas relatively lower so as not to affect demand?
Or is there a more straightforward answer?
Here's an answer, pops (not very straightforward, I'm afraid):
Joined: May 17, 2005 Posts: 386 Location: Northeast Ohio
Posted: Thu Jul 06, 2006 7:52 am Post subject: Re: $3 gas feared by this weekend
I asked that same question last year, about the discrepancy between the cost of diesel and unleaded. As far as I could remember it was always cheaper as well. I thought it might have had something to do with refining, since there's bottlenecks. I thought at first that maybe they were making more regular gas from a barrel than diesel, causing the price of diesel to rise. From what I have read, however, fractional distillation doesn't allow one to really choose how much of what product is created. You heat the crude, and different products are created at different densities/temps.
So yeah, I dunno. _________________ Reality is agreed perception. Unfortunately there is also a reality imposed by nature.
www.peakoilchat.com - Web based IRC chat, nothing to install!
Joined: Mar 23, 2005 Posts: 183 Location: Norwood, NY
Posted: Thu Jul 06, 2006 8:12 am Post subject: Re: $3 gas feared by this weekend
I think fears of big prices in gasoline will be short lived this summer. The Republican party will undoubtedly coordinate with big oil to keep the prices down. Big increases in gasoline prices will mean voter anger which in turn will mean the voters will lash out at the party in power at the polls in the mid-term elections. Barring an external event; such as an Iranian oil embargo, the price of gas will probably mysteriously drop this fall. If the Iranians do something foolish, or Bush decides its time to create a new external enemy to rally the populous around our government, then you might see gasoline prices rise; but I really don't expect to see big oil do anything that might help the democrats this fall.
Joined: Apr 03, 2004 Posts: 7024 Location: My Grandkids' Farm
Posted: Thu Jul 06, 2006 8:29 am Post subject: Re: $3 gas feared by this weekend
From Heinies link:
Quote:
The EIA has a helpful "Frequently Asked Questions" posting on its Web site that addresses the question, "Why are diesel prices so high?" To summarize the answer: Yada yada yada…distillate fuel production…lower than typical…heating oil…vote Republican…largest determinate for future path…yada yada, and, in conclusion, yada.
The light at the end of the tunnel is Willie Nelson
But there may be relief in sight, thanks to Willie Nelson. Willie is a backer of "BioWillie," a biodiesel fuel made from seeds and stems and probably soybeans.
Quote:
I asked a friend who is in the petroleum industry why they charge so much for diesel.
"Because we can," he said.
That, I understand.
Kinda what I thought...
---
THanks J-Rod, I also thought there was little leaway so wondered, the article Heinie posted talked about increasing worldwide demand for diesel and refomulating to lower the sulfer content - probably the best answer we are likely to get.
Now back to your regularly scheduled topic... _________________ Make a plan and work it:
Posted: Thu Jul 06, 2006 1:17 pm Post subject: Re: $3 gas feared by this weekend
Gas prices are increasing in Finland too. We have normally gas at 6 $/gal, but now we are approaching 7$/gal. One of my friends suggested that I should buy a bicycle and he's not a peak oiler. I should listen to him.
Joined: Oct 28, 2004 Posts: 294 Location: SoWashCo, Minnesota
Posted: Thu Jul 06, 2006 1:49 pm Post subject: Re: $3 gas feared by this weekend
Yup... I needed to fill my tank yesterday and stopped at a local BP station that was listing at $2.86/gallon, with the SuperAmerica next door already at $3.09.
This is getting close to the high-water mark around here last year right after Katrina. If we get another big hurricane in the oil patch this year, watch out.
Joined: Aug 14, 2004 Posts: 2069 Location: San Diego, Ca.
Posted: Thu Jul 06, 2006 2:18 pm Post subject: Re: $3 gas feared by this weekend
Down here gasoline has been over $3.00 since April.
It peaked at $3.45, down to $3.15 and currently on its way up passing through $3.25. _________________ "Peak oil isn't more than an interesting industry factoid and doesn't have anything to do with the hysterics speculated on ad nauseum around here!" ReserveGrowthRulz
Posted: Thu Jul 06, 2006 2:34 pm Post subject: Re: $3 gas feared by this weekend
Today on the way home I saw 3.05 regular 330 plus and 340 premium and for the first time I could not fill up my metro with 20 dollars, it was 1/4 short.
man it is getting pricey. _________________ ___________________________
WHEN THE BLIND LEAD THE BLIND...GET OUT OF THE WAY!
Using evil to further good makes one evil
Doubt everything but the TRUTH
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