WarrenJ Posted September 22, 2008 Report Share Posted September 22, 2008 As a child I remember hurricanes in the Gulf but the price of gas never changed. Suddenly NOW, it changes as often as the stock market. It's a scam. When thee and me were but children, there were no drilling rigs in the Gulf. That might explain some of it. The remainder is easily explained without resorting to the "scam" scam. Regards, Warren There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved. - Ludwig von Mises Link to comment Share on other sites More sharing options...
Marika Posted September 22, 2008 Report Share Posted September 22, 2008 As a child I remember hurricanes in the Gulf but the price of gas never changed. Suddenly NOW, it changes as often as the stock market. It's a scam. When thee and me were but children, there were no drilling rigs in the Gulf. That might explain some of it. The remainder is easily explained without resorting to the "scam" scam. Regards, Warren Are thee and me really THAT OLD??? :lol: If you really want to make people safe drivers again then simply remove all the safety features from cars. No more seat belts, ABS brakes, traction control, air bags or stability control. No more anything. You'll see how quickly people will slow down and once again learn to drive like "normal" humans. Link to comment Share on other sites More sharing options...
BodybyFisher Posted September 22, 2008 Report Share Posted September 22, 2008 It seems to me that anything that Wall Street rides, it rides into the ground. They had a hand in riding real estate into the ground, with securitizations of residential and commercial real estate if you ask me. They 'packaged' commercial real estate like wiggets. I met an owner last year that said it was impossible to get an office building loan that was not securitized, all he wanted was a traditional commercial bank/life insurance loan. I believe that the commercial real estate is over valued, and we have yet to see the fall out from that sector. No one seemed to undertand that much if not all of the appreciation in real estate came about because of the low interest rate environment, when interest rates are low, you can afford to pay more for a house, that results in false appreciation. Toward the end of the 'bubble' too much money was chasing too little deals driving prices up, and driving leverage up. Capitalization rates were forced down to a point where there was NEGATIVE return to equity, why a typical loan was deducted from the cash flow. I tried raising the red flag a couple of times over the last 4 years and was slapped down by a bank that is currently going down the toilet, and they eventually got me off their list to get work... No one wanted to shoot the golden goose. It does not surprise me that this bank is going down, all they wanted was a rubber stamp, no thought, just a rubber stamp. Pre-1995 - DTC codes OBD1 >> 1996 and newer - DTC codes OBD2 >> https://www.obd-codes.com/trouble_codes/gm/obd_codes.htm How to check for codes Caddyinfo How To Technical Archive >> http://www.caddyinfo.com/wordpress/cadillac-how-to-faq/ Cadillac History & Specifications Year by Year http://www.motorera.com/cadillac/index.htm Link to comment Share on other sites More sharing options...
BodybyFisher Posted September 22, 2008 Report Share Posted September 22, 2008 Oh and I remember when I had my 66 Caddy in college (1972), I would get $2 worth, at $0.33 a gallon (Hess), and got 6 GALLONS, NOW, 6 gallons costs $24 Pre-1995 - DTC codes OBD1 >> 1996 and newer - DTC codes OBD2 >> https://www.obd-codes.com/trouble_codes/gm/obd_codes.htm How to check for codes Caddyinfo How To Technical Archive >> http://www.caddyinfo.com/wordpress/cadillac-how-to-faq/ Cadillac History & Specifications Year by Year http://www.motorera.com/cadillac/index.htm Link to comment Share on other sites More sharing options...
WarrenJ Posted September 22, 2008 Report Share Posted September 22, 2008 As a child I remember hurricanes in the Gulf but the price of gas never changed. Suddenly NOW, it changes as often as the stock market. It's a scam. When thee and me were but children, there were no drilling rigs in the Gulf. That might explain some of it. The remainder is easily explained without resorting to the "scam" scam. Regards, Warren Are thee and me really THAT OLD??? :lol: I think I can speak for both thee and me when I say we are both young at heart. xoxox, Warren There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved. - Ludwig von Mises Link to comment Share on other sites More sharing options...
WarrenJ Posted September 22, 2008 Report Share Posted September 22, 2008 If you have the time and the interest in learning a bit about the mortgage crisis, you could listen to this podcast: http://www.thisamericanlife.org/Radio_Epis...spx?episode=355 Not only is it informative, but it is also entertaining. Yeah, really! It's presented in the format of the PBS series "Connections." Oh, and to remain on topic, gas prices suck. Regards, Warren There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved. - Ludwig von Mises Link to comment Share on other sites More sharing options...
WarrenJ Posted September 22, 2008 Report Share Posted September 22, 2008 I tried raising the red flag a couple of times over the last 4 years and was slapped down by a bank that is currently going down the toilet, and they eventually got me off their list to get work... No one wanted to shoot the golden goose. It does not surprise me that this bank is going down, all they wanted was a rubber stamp, no thought, just a rubber stamp. Mike, I think you would enjoy the podcast I linked to in post #156. In fact, I INSIST you listen to it. Well, sorta . . . kinda maybe_ish . . . Regards, Warren EDIT: that link doesn't seem to work. Try this: http://www.thisamericanlife.org/Radio_Epis...aspx?sched=1242 . It's episode #355. There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved. - Ludwig von Mises Link to comment Share on other sites More sharing options...
Ed Hall Posted September 22, 2008 Report Share Posted September 22, 2008 The price of crude just shot up to $120 per barrel today. I'm going to go fill up my gas tanks today before the price shoots up at the pump. Link to comment Share on other sites More sharing options...
KHE Posted September 23, 2008 Report Share Posted September 23, 2008 Now what is the excuse for the skyrocketing price??? Hugo Chavez must have shot his mouth off again... Kevin '93 Fleetwood Brougham '05 Deville '04 Deville 2013 Silverado Z71 Link to comment Share on other sites More sharing options...
JimD Posted October 10, 2008 Report Share Posted October 10, 2008 Oil futures (September delivery) are trading at less than $120 per barrel today. That is down from ~~$145 less than one month ago. Gasoline (87 octane) is around $3.85 in this part of GA. I'm expecting less than $3.00 after Labor Day. Oil traded at less than $114 per barrel today. For those in Loma Linda, that is a $6.00 decline in 10 days. Gold is trading at less than $800 per ounce compared to the high $9xx figure of not too long ago. And the $US is showing some gains against the Euro and other currencies. Just a few of the signs that we are getting this ship headed in the right direction. Oil is trading at less than $106 and 87 octane fuel can be had for $3.40 today. The pendulum swings. Oil is trading at less than $97 today. In the immediate aftermath of Ike, while part of the Gulf coast oil production-refining infrastructure remains shut down, 87 octane is going for $3.55 most places with reports of some locations as high as $4.15. Oil traded at less than $80 at one point today. And thanks to the Hugo/Ike spike, 87 octane is $3.75 while other grades remain in short supply with no prices posted. But recent global events have conspired to make the price of gasoline less important than it was back in August. Jim Drive your car. Use your cell phone. CHOOSE ONE ! Link to comment Share on other sites More sharing options...
rek Posted October 10, 2008 Report Share Posted October 10, 2008 NE OH must have ducked the spike (at the pump)... $2.979 reg. rek Link to comment Share on other sites More sharing options...
daniel812 Posted October 10, 2008 Author Report Share Posted October 10, 2008 My cost of gas (I manage a station) is $2.63/gallon and still falling Link to comment Share on other sites More sharing options...
SPreston2001 Posted October 11, 2008 Report Share Posted October 11, 2008 Gas prices are actually coming down in my area. Gas is down to $2.94/gal! I know thats still high, but compared to the $4/gal range its heavenly! Link to comment Share on other sites More sharing options...
Ranger Posted October 11, 2008 Report Share Posted October 11, 2008 I just filled up last night for $3.49, but bought gas for $2.94 last weekend in Missouri. Link to comment Share on other sites More sharing options...
JimD Posted October 11, 2008 Report Share Posted October 11, 2008 Day by day and even hour by hour, the supply situation is rapidly returning to whatever "normal" is at this end of the Colonial pipeline. Late this afternoon I saw 87 octane for $3.50 and all three octanes were available. A thumbs up to the utility crews that restored electricity to the Gulf coast infrastructure. Jim Drive your car. Use your cell phone. CHOOSE ONE ! Link to comment Share on other sites More sharing options...
JohnnyG Posted October 11, 2008 Report Share Posted October 11, 2008 Isn't it funny how the price of gasoline jumped (last year) on the "conception" of increased demand? How many of us "stopped" driving? Answer "0" Maybe some drove less, maybe some even drove slower, but nobody stopped. We all certainly thought about it more. The problem, as I see it is in the increased speed of communication, and the advent of computer driven trading. Run a program on the commodities exchange and you make money! Same thing on the DJI. This was quite evident in Friday's (10/10/2008) swing of the DOW. In ONE HOUR the market went from 200+ positive, to negative! No human or group of humans can react that fast. Asking any government entity to solve these kind of issues is like asking Stevie Wonder to solve a Rubik's Cube! Never underestimate the amount of a persons greed. Link to comment Share on other sites More sharing options...
Ranger Posted October 11, 2008 Report Share Posted October 11, 2008 I don't know if this is true or not, but someone mentioned to me that the last time oil was at todays price per barrel ($84 or something like that), pump prices where around $1.50/gal. What does that tell you? Link to comment Share on other sites More sharing options...
JimD Posted October 12, 2008 Report Share Posted October 12, 2008 The last occurences of gasoline in the $1.5x range (in the Atlanta area) was Feb. and Dec. of 2005. I'll leave it to someone else to research the price of crude for that period. Jim Drive your car. Use your cell phone. CHOOSE ONE ! Link to comment Share on other sites More sharing options...
Ranger Posted October 12, 2008 Report Share Posted October 12, 2008 So much for that idea. http://www.ioga.com/Special/crudeoil_Hist.htm Link to comment Share on other sites More sharing options...
JimD Posted October 12, 2008 Report Share Posted October 12, 2008 Folks can have faulty selective memories. Jim Drive your car. Use your cell phone. CHOOSE ONE ! Link to comment Share on other sites More sharing options...
KHE Posted October 12, 2008 Report Share Posted October 12, 2008 Seems to me the last time oil was $84 per barrel, the pump price was 40 cents lower than it is currently. Kevin '93 Fleetwood Brougham '05 Deville '04 Deville 2013 Silverado Z71 Link to comment Share on other sites More sharing options...
Texas Jim Posted October 12, 2008 Report Share Posted October 12, 2008 The problem with fuel prices...as I see it is... Crude goes up... pump prices go up... QUICKLY. Crude goes down... pump prices go down... SLOWLY. But, the pump prices NEVER go back DOWN to where they were before they went UP. It is also a MUCH SLOWER FALL in pump prices than the speed at which they went up. It is kinda like the old experiment, where you put a frog in water. If you put him in HOT WATER... he will immediately jump out. If you put him in cold water and gradually turn up the heat... he will not jump out of the water as the temp slowly rises. He becomes accustomed to the heat and stays in the water as it heats up, till he finally dies from the heat. It seems like we are all frogs, in one way or another. They keep turning up the heat...(rising fuel prices) and we gradually get used to it. Link to comment Share on other sites More sharing options...
JohnnyG Posted October 12, 2008 Report Share Posted October 12, 2008 The problem with fuel prices...as I see it is... Crude goes up... pump prices go up... QUICKLY. Crude goes down... pump prices go down... SLOWLY. I think that's known as the "rocket and feather" theory of pricing! Since oil companies, and I mean ALL oil companies, cannot "play" with quantities, that means a barrel is a barrel (42 GALLONS) and a gallon is still a gallon, they must rely on other forms of logic to effectively remove money from your wallet. This is quite different from Folger's and General Mills, and you pick the next one, that can indiscriminently reduce the size of the package, TEMPORARILY reduce the price, then inflate it again, over and over and over. I can't fault one more than I can the other. I will say that gas stations are currently making a little bit of money on gasoline instead of coffee, beer, and Twinkies. Personally, I'll mark up any discrepancy of current versus former gasoline prices to world inflation, the devaluation of the dollar. Thank you house flippers! Never underestimate the amount of a persons greed. Link to comment Share on other sites More sharing options...
WarrenJ Posted October 12, 2008 Report Share Posted October 12, 2008 When a station owner sees the price of oil rise he knows he will have to pay more for his next load of gas. If he continues to sell his current load at the "old" price he won't have enough money in his checking account to purchase the new load at the end of the month. He MUST raise his price immediately. The opposite happens when oil prices drop; if the station owner immediately drops his retail price he will lose money on the more expensive load currently in the ground. He gets whipsawed either way. Regards, Warren There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved. - Ludwig von Mises Link to comment Share on other sites More sharing options...
Ranger Posted October 12, 2008 Report Share Posted October 12, 2008 And we get it IN THE END. Link to comment Share on other sites More sharing options...
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