$100 A Barrel Oil is on the Way

[volinbham]

So when can we see the gas prices go back down to 3.60 range?

few weeks. They'll fall below 3.60

Assuming no supply problems (e.g. hurricanes)

 

[myrobbins7]

Keep selling.

 

[MontereyVol]

So when can we see the gas prices go back down to 3.60 range?

Are you guys not seeing less than that right now? Gas in Cali is down to 3.70 and we always seem to be .40 or more ahead.

 

[volinbham]

Are you guys not seeing less than that right now? Gas in Cali is down to 3.70 and we always seem to be .40 or more ahead.

We got the "Ike" bump. Should be back down soon.

 

[Rasputin_Vol]

Like a broken clock, this thread is right for the 2nd time - Oil is at about $96.50 right now.

Financial crisis sends oil prices tumbling - Times Online

Sinusoid...

 

[VolsNSkinsFan]

I just had to post this

Yesterday on NBC local 6pm news here in Atlanta they were doing a story about the recent jump in gas prices and if it was gouging or not.

Anyway they were at this Chevron near Buckhead which is a total rip off gas station run by "you know who's" and they interviewed this woman who was filling up her RANGE ROVER and she was complaining that if prices went any higher she might have to find a new job because the commute is too far and its costing her too much... HELLO????? YOU DRIVE A RANGE ROVER!!!

Anyway Oil is taking a beating due to Hedge funds unwinding winning positions to meet margin calls in losing positions+ a weakning economy

Oil Continues to Sink With Stock Market (Update) - TheStreet.com

 

[myrobbins7]

A nice little jump for Oil today, ouch.

 

[notverycrucial]

A nice little jump for Oil today, ouch.

There's no logic reason for it today -- other than short squeeze.

 

[TennTradition]

This doesn't warrant it's own thread, IMO..but it is worth bringing up in the context of oil prices....

Munger:ORNL seeks research gold; still needs funding : Columnists : Knoxville News Sentinel

It will be interesting to see what efforts we make in the next 10-20 years to bring about new energy sources/methods .... which methods to spur innovation will be most successful?

 

[Rasputin_Vol]

This is starting to get scary.

The dean of oil is prediction 12-15/dollar gallon gas in the next few years.

'Squawk Box' Guest Warns of $12-15-a-Gallon Gas

Whew... this seems like so long ago.

 

[615 Vol]

The thread that wouldn't die.

 

[Rasputin_Vol]

$1.95 in Lewisburg...

 

[myrobbins7]

Nice little jump in oil and gold this AM. + $4.15

 

[lawgator1]

Commodities likely to be higher for a little bit as everyone flees the equities.

 

[WA_Vol]

I saw gas this weekend for $1.79/gal, i had to do a double take.

 

[Rasputin_Vol]

$1.60 in LaFollette... hmy:

Can it get down to below $1.50?

 

[VolsNSkinsFan]

$1.60 in LaFollette... hmy:

Can it get down to below $1.50?

Yes and will before thanksgiving

 

[WA_Vol]

Below 50/barrel would be awesome

 

[droski]

This is my "i'm so brilliant post"

From 4/30:

i think we are in an obvious oil bubble. similar to the dotcom bubble of 2000 and the real estate bubble of 06.

From 5/21

in my experience bubbles always run a lot longer than you think they will.

From 5/28:

if the oil price starts dropping it will drop quick. way too many people long.

Posting this will ensure the financials will drop another 50%.

 

[Rasputin_Vol]

i think we are in an obvious oil bubble. similar to the dotcom bubble of 2000 and the real estate bubble of 06.

OK, Nostradamus... with ever bubble bust, there are victims. Who are the losers right now that are losing their shirts? Oil companies or the futures maniacs?

Any big names we know of that may be feeling the pain?

 

[droski]

hedge funds. oil companies.

 

[Rasputin_Vol]

hedge funds. oil companies.

I guess I was asking who would be the biggest losers in particular? XOM, Shell... etc.

 

[droski]

I guess I was asking who would be the biggest losers in particular? XOM, Shell... etc.

the major oils will be fine if not very well. it's the high cost producers like DNR (sandsills stuff like that) who are screwed. my guess is oil goes back to 60. i'm still bullish on XOM, CVX, NE and RIG.

 

[ChicagoVolFan]

the major oils will be fine if not very well. it's the high cost producers like DNR (sandsills stuff like that) who are screwed. my guess is oil goes back to 60. i'm still bullish on XOM, CVX, NE and RIG.

when do you see it rising above 60?

 

[droski]

within the next 3 months. but that is just a wild arse guess.