just wait till rita hits

[FastCargo]

Face it Flounder, you f*****d up! You trusted us!

 

[jimcav]

Hey ca1900 maybe some of us boneheads can afford the gas we put in our trucks and suvs.

 

[FN FAL]

Gas won't hit $5 a gallon, it will peak at $3.50 or less.

REALLY? Got news for you dude...the Delta Connection!

Do a www.google.com news search and find the story yourself, but the skinny is some Niger Delta freedom fighters just seized up Chevron's oil facilities and shut them down with the intention of blowing them up.

 

[LeonPhelps]

Did we give up when the germans bombed pearl harbor?

I know I'm an optimistic minority...but, I remember that low gas prices in the mid 90s drove a lot of the boutique oil producers in texas, utah, montana out of business...well, I just read an article recently that high prices are bringing those guys back. Hopefully the supply will help bring the prices down...to say, below $2.00 a gallon at the pumps by next summer?

(Insert flame here)

 

[klhoard]

I know I'm an optimistic minority...but, I remember that low gas prices in the mid 90s drove a lot of the boutique oil producers in texas, utah, montana out of business...well, I just read an article recently that high prices are bringing those guys back. Hopefully the supply will help bring the prices down...to say, below $2.00 a gallon at the pumps by next summer?

(Insert flame here)

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www.biodiesel.org
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Just found my source for the stuff about 15 miles south of Collierville.
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[Paul R. Smith]

Man that Forbes guy is full of sh@t.


Sorry, carry on.

 

[jetflyer]

Paul,

About Forbes. I think he was asked by someone to try to calm the markets. I think he was maybe even asked by Bush?? He made his $35-$40 prediction on oil prices after KATRINA, right??

He also made his prediction before the complete story on the damage to the oil rigs, refineries, and pipelines were released. A lot of the rigs in the Gulf are going to be down for a long, long time because well they're GONE!

They still do not know the extent of the damage to all of the underwater pipelines. Ivan really messed the pipelines up last year.

Let's hope Rita doesn't cause some long term damage.

These hurricanes suck. Remember gas prices were $2.50 before Katrina even. Now could we see $5.00? Definitely especially if there are a lot of refineries out for weeks.

It doesn't matter how much oil you have if you can't refine it. Remember the refineries were running at about 97% capacity already! Several are still shut down from Katrina. It's impossible to refine right now the amount of gasoline we need every day, so we're going to be going through our gasoline inventories that are stored up, but there aren't that much.

Thank GOD, for the IEA, which supplied us with ALREADY REFINED PRODUCTS, like heating oil, gasoline, etc that should last a little while. Let's hope we can get the refineries running very soon.

I can't wait till I can buy an electric car!!

Jet

 

[Paul R. Smith]

I agree with forbes myself, and while I'm no expert, I don't see how lost refining capacity affects (lost refineries) causes us to have an oil shortage. If anything we should have oil barrels piling up waiting to be refined no? My garage logic always fails me though.

 

[jimcav]

Yeah, Bush conspiring with Forbes to calm the markets sounds logical. Just like the N.O. levees breaking was a white man conspiracy, this according to Farrikhan. Enough of the conspiracies already.

 

[jetflyer]

Paul,

Your logic is right.

Unfortunately the analysts are predicting worldwide demand for crude oil in the 4th quarter of 86 million barrels/day, while the world currently only produces 84 million barrels a day.

Plus 84 million barrels a day, was before we lost a lot of the Gulf Of Mexico production and before the problems happening in Nigeria.

So, I think prices of oil will trade sideways until winter.

If it's a cold winter which will require more HEATING OIL and may boost worldwide demand more than 86 millon/day, I think we could see $90/barrel.

Jet