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Showing posts with label oil markets. Show all posts
Showing posts with label oil markets. Show all posts
Tuesday, October 4, 2011
Gasoline in the area
Gas is, right now, $3.09 per gallon in Smithville. I assume it's like that also on the East side of the city but haven't confirmed yet. Anyway, there's news out today that oil is also going further down, on current news. With this, it seems like only a (short?) matter of time until we're under $3.00 a gallon again. To tell you the truth, at the rate it's falling locally, I wouldn't be surprised if by this weekend--or early next week at latest--we hit that mark and get $2.99 or less. Stay tuned. Link: http://www.omaha.com/article/20111004/AP05/301039969
Wednesday, July 8, 2009
Thank goodness. This is way overdue
It's reported today on the front page of The New York Times, among other places, that our government is analyzing curbs on the speculation of energy on the energy markets.
Thank goodness!
This is, as I said, above, long, long overdue.
Back in 2000, as I wrote here earlier, the "geniuses" at Enron got our government to do away with any government regulation of the energy markets.
What a mistake.
Sure, people and corporations could make great gobs of money but, in the meantime, companies like Enron could take energy out of, oh, say, a state like California with one sale, and then send it back in a new resale, to that same state.
Sound familiar?
It's why California had rolling blackouts all those years ago.
It nearly broke the state of California and its residents.
Sure, people were making those boodles of money, but the State of California--and, indeed, the whole country--was weakened, severely, both the state and the United States. It was an insane time for energy, energy trading and the people of California, who were at these trader's and corporation's mercy--or, rather, their lack of mercy.
This was also why the world oil markets took the price of a barrel of crude up to $147.00 per barrel a year or so ago, giving us $4.00/gallon gas at the pump.
It crippled households, their budgets, states and their budgets and the whole country.
An extremely small group of wealthy people 'round the world were getting richer while the middle class, the poor and businesses were crippled and at the mercy of the price of a barrel of oil.
The reason it's so important that we pass these curbs and bring back some regulation of oil and energy markets is because we are in such a deep and worldwide economic recession (at least) right now and we need stability in these energy markets. If we don't know where our costs are going to be in the future, how do we know what we can invest in? It makes our economic crystal ball impossible to read, as if it's not tough enough already.
And all we're taking away is the action of people "betting", in essence, on the energy markets, so they can make money and that's insane. That betting (purchasing oil and energy stocks, in hopes they'll go ever higher) can have the effect of breaking nations, households and businesses banks and pocketbooks, a dangerous possibility.
Link:
http://www.nytimes.com/2009/07/08/business/08cftc.html?th&emc=th
Thank goodness!
This is, as I said, above, long, long overdue.
Back in 2000, as I wrote here earlier, the "geniuses" at Enron got our government to do away with any government regulation of the energy markets.
What a mistake.
Sure, people and corporations could make great gobs of money but, in the meantime, companies like Enron could take energy out of, oh, say, a state like California with one sale, and then send it back in a new resale, to that same state.
Sound familiar?
It's why California had rolling blackouts all those years ago.
It nearly broke the state of California and its residents.
Sure, people were making those boodles of money, but the State of California--and, indeed, the whole country--was weakened, severely, both the state and the United States. It was an insane time for energy, energy trading and the people of California, who were at these trader's and corporation's mercy--or, rather, their lack of mercy.
This was also why the world oil markets took the price of a barrel of crude up to $147.00 per barrel a year or so ago, giving us $4.00/gallon gas at the pump.
It crippled households, their budgets, states and their budgets and the whole country.
An extremely small group of wealthy people 'round the world were getting richer while the middle class, the poor and businesses were crippled and at the mercy of the price of a barrel of oil.
The reason it's so important that we pass these curbs and bring back some regulation of oil and energy markets is because we are in such a deep and worldwide economic recession (at least) right now and we need stability in these energy markets. If we don't know where our costs are going to be in the future, how do we know what we can invest in? It makes our economic crystal ball impossible to read, as if it's not tough enough already.
And all we're taking away is the action of people "betting", in essence, on the energy markets, so they can make money and that's insane. That betting (purchasing oil and energy stocks, in hopes they'll go ever higher) can have the effect of breaking nations, households and businesses banks and pocketbooks, a dangerous possibility.
Link:
http://www.nytimes.com/2009/07/08/business/08cftc.html?th&emc=th
Tuesday, June 30, 2009
Get your gasoline NOW
Is it a big deal?
Maybe not, but I can tell you, if you need gasoline and want to save money on it today, you should go get it right now.
This morning, gasoline was $2.35/gallon here in Independence.
Last night, in the overnight markets, oil went up $3.00 per barrel. From what the news said, this is an 8-month high. Apparently Nigerian refineries were attacked yesterday or some such, at minimum.
Usually always, when there is an international jump in the price like this, the price you and I pay at the pump goes up immediately, as you may know, even though this same gasoline was bought and paid for long before these markets, of course.
So expect the price to jump shortly, if not today. (I'm betting on today).
Besides, it's Summer now.
And it's the holiday, 4th of July weekend.
A guy's gotta make a buck, right?
Maybe not, but I can tell you, if you need gasoline and want to save money on it today, you should go get it right now.
This morning, gasoline was $2.35/gallon here in Independence.
Last night, in the overnight markets, oil went up $3.00 per barrel. From what the news said, this is an 8-month high. Apparently Nigerian refineries were attacked yesterday or some such, at minimum.
Usually always, when there is an international jump in the price like this, the price you and I pay at the pump goes up immediately, as you may know, even though this same gasoline was bought and paid for long before these markets, of course.
So expect the price to jump shortly, if not today. (I'm betting on today).
Besides, it's Summer now.
And it's the holiday, 4th of July weekend.
A guy's gotta make a buck, right?
Monday, March 23, 2009
Everyone's going to want a piece of this
I've said several times that at least I should have been cynical enough to see what was coming in 2000, with the election of George W. Bush and Dick Cheney stealing the White House election.
Face it, we all should have bought oil stocks.
Oil and Halliburton--all we could have gotten our hands on, absolutely.
So now? Now that everyone thinks we may have hit the bottom of the market?
A couple of things are going to happen, here, folks.
First, there is going to be, as my partner, Michael said, some very real "irrational exuberance" that's going to kick in.
Everyone's going to want to make up in profits what they lost in the last few years, with this down, bear market.
And second, a whole bunch of people are going to get on that band wagon and buy oil stocks like crazy.
Today it was up to $53.00 a barrel.
That will look like such a bargain in no time, it won't be funny.
Really, it won't be funny.
Every household and speculator--everyone--is going to want to buy in to the roaring oil markets.
Congress should shut this down now by regulating the speculation markets for oil.
But they won't.
Hang on to your seats, folks, it's gonna be a bumpy ride.
Link to markets story today:
http://www.marketwatch.com/news/story/energy-stocks-join-rally-petro-canada/story.aspx?guid={81E7937A-5152-44A8-A238-BFD96B830764}&siteid=yhoof
Face it, we all should have bought oil stocks.
Oil and Halliburton--all we could have gotten our hands on, absolutely.
So now? Now that everyone thinks we may have hit the bottom of the market?
A couple of things are going to happen, here, folks.
First, there is going to be, as my partner, Michael said, some very real "irrational exuberance" that's going to kick in.
Everyone's going to want to make up in profits what they lost in the last few years, with this down, bear market.
And second, a whole bunch of people are going to get on that band wagon and buy oil stocks like crazy.
Today it was up to $53.00 a barrel.
That will look like such a bargain in no time, it won't be funny.
Really, it won't be funny.
Every household and speculator--everyone--is going to want to buy in to the roaring oil markets.
Congress should shut this down now by regulating the speculation markets for oil.
But they won't.
Hang on to your seats, folks, it's gonna be a bumpy ride.
Link to markets story today:
http://www.marketwatch.com/news/story/energy-stocks-join-rally-petro-canada/story.aspx?guid={81E7937A-5152-44A8-A238-BFD96B830764}&siteid=yhoof
Wednesday, March 4, 2009
It's a small window, and it's closing
We've all watched the price for gasoline--both the price per gallon and per barrel, on the world markets.
We know it's gone from too high to ridiculous. The ridiculous part was when it hit $147.00 per barrel on those world markets, due mostly to speculation and people successfully, unfortunately, making a killing in the market.
Well, it fell to a bit less than $35.00 per barrel at one point and now it's back up to around $43.00 per barrel.
I have said several times that I should have--heck, we all should have--been very sarcastic, cynical and opportunistic back in 2000, when "W" and his cabal were about to take over, and invested heavily in oil and Halliburton stocks.
It only made sense.
We would have made a TON of money.
Of course, it would have been on the backs of the American people and the world but then we could have done some good with it.
So anyway, now, here we are, back in about the same situation.
If and when the world economy turns back around and people sense a "bottom" to the markets and economies start coming back, you can be sure people will start speculating--and speculating wildly--on oil, the price of oil and the oil markets.
There are a whole lotta' people out there who would like to make at least some of the money back that they've lost in these last months.
And that's where our government's plan to add $1.00 in tax or fee or whatever you want to call it comes in.
This should happen and it should happen now. It should happen right away.
It won't but it should.
This $1.00 per gallon could, would and should, then, be put to use getting us freer from Middle East oil. Parts of it could and again, would be given back to the American consumer but the rest would be used to get us onto renewable energy sources and so, again, out of the Middle East.
This would also, as I've written before, help clean up our environment, since it would be based on clean fuel and would help reduce the carbon dioxide being fed into our atmosphere so less climate change, God willing.
This, then, is what should happen, in a smart world--a perfect world.
It won't, though.
Not in a million years.
We haven't got the political fortitude to do it.
We haven't got the guts.
The politicians haven't got the guts.
In the first place, they'd all say it would just keep us in a recession--or worse. And actually, I'll admit, given that we're in financial and economic territory we've never been in before, it may even be true. (It shouldn't be, however, because of the returning of a good protion of the $1.00 per gallon to American consumers).
So the price of oil was outrageously high.
It came down.
And now it's creeping back up.
If and when the economy comes back, hold onto your hats.
It's gonna get ugly.
And expensive.
On a brighter note, if/when you see the bottom of the market, this time, buy lots and lots of oil stocks.
We know it's gone from too high to ridiculous. The ridiculous part was when it hit $147.00 per barrel on those world markets, due mostly to speculation and people successfully, unfortunately, making a killing in the market.
Well, it fell to a bit less than $35.00 per barrel at one point and now it's back up to around $43.00 per barrel.
I have said several times that I should have--heck, we all should have--been very sarcastic, cynical and opportunistic back in 2000, when "W" and his cabal were about to take over, and invested heavily in oil and Halliburton stocks.
It only made sense.
We would have made a TON of money.
Of course, it would have been on the backs of the American people and the world but then we could have done some good with it.
So anyway, now, here we are, back in about the same situation.
If and when the world economy turns back around and people sense a "bottom" to the markets and economies start coming back, you can be sure people will start speculating--and speculating wildly--on oil, the price of oil and the oil markets.
There are a whole lotta' people out there who would like to make at least some of the money back that they've lost in these last months.
And that's where our government's plan to add $1.00 in tax or fee or whatever you want to call it comes in.
This should happen and it should happen now. It should happen right away.
It won't but it should.
This $1.00 per gallon could, would and should, then, be put to use getting us freer from Middle East oil. Parts of it could and again, would be given back to the American consumer but the rest would be used to get us onto renewable energy sources and so, again, out of the Middle East.
This would also, as I've written before, help clean up our environment, since it would be based on clean fuel and would help reduce the carbon dioxide being fed into our atmosphere so less climate change, God willing.
This, then, is what should happen, in a smart world--a perfect world.
It won't, though.
Not in a million years.
We haven't got the political fortitude to do it.
We haven't got the guts.
The politicians haven't got the guts.
In the first place, they'd all say it would just keep us in a recession--or worse. And actually, I'll admit, given that we're in financial and economic territory we've never been in before, it may even be true. (It shouldn't be, however, because of the returning of a good protion of the $1.00 per gallon to American consumers).
So the price of oil was outrageously high.
It came down.
And now it's creeping back up.
If and when the economy comes back, hold onto your hats.
It's gonna get ugly.
And expensive.
On a brighter note, if/when you see the bottom of the market, this time, buy lots and lots of oil stocks.
Tuesday, July 15, 2008
Some good news, finally, amidst a lot of gloom
"Oil prices plunge at fastest rate in 17 years over economic fears"
Just now, from Yahoo:
http://biz.yahoo.com/ap/080715/oil_prices.html
It's only $6.00/barrel and we could lose that--and more--tomorrow, with a big jump but, hey, we'll take it. Also, sure, it dropped the most in the last 17 years but how much did it go up in the last year? 2 years?
Anyway, what we really need is just a retreat of these prices, back to 60 to 80 dollars per barrel, where it should be, as per the economists.
Just now, from Yahoo:
http://biz.yahoo.com/ap/080715/oil_prices.html
It's only $6.00/barrel and we could lose that--and more--tomorrow, with a big jump but, hey, we'll take it. Also, sure, it dropped the most in the last 17 years but how much did it go up in the last year? 2 years?
Anyway, what we really need is just a retreat of these prices, back to 60 to 80 dollars per barrel, where it should be, as per the economists.
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