8
   

Oil Goes Down To Under 100.00 A Barrel Today

 
 
Reply Fri 12 Sep, 2008 12:20 pm
based on the fact it looks like Ike will do no major damage to installations in the Gulf.

http://www.breitbart.com/article.php?id=080912180129.q17mk87c&show_article=1

Meanwhile, this morning.... gas went up $35 a ******* gallon because Ike MIGHT hit an oil installation....seriously...when is enough going to be enough?

It is my stated belief that the people in power with Big Oil and the government officials , stock traders, anyone else responsible for this anal rape of Americans should be dragged from their sanctuaries and offices.... scourged with leaded thongs and either crucified or hung in public and then have their heads put on posts as a warning.

When will enough be enough? And btw..... don't blame this on terrorists, OPEC and Saddam Hussein. We are being raped by American citizens for profit.
 
Bi-Polar Bear
 
  2  
Reply Fri 12 Sep, 2008 12:53 pm
@Bi-Polar Bear,
Gas up to 4.12 a gallon here since 2 hours ago AND a 10 gallon maximum.
McGentrix
 
  2  
Reply Fri 12 Sep, 2008 12:56 pm
@Bi-Polar Bear,
That's insane.
Bi-Polar Bear
 
  1  
Reply Fri 12 Sep, 2008 01:01 pm
@McGentrix,
that's big oil at work, free of restrictions and with full cooperation of our own elected government.
0 Replies
 
Cliff Hanger
 
  2  
Reply Fri 12 Sep, 2008 01:01 pm
@Bi-Polar Bear,
$35 a gallon--isn't price gouging illegal?
CoastalRat
 
  1  
Reply Fri 12 Sep, 2008 01:02 pm
Yeah, at 4:30 last night on my way home I passed the station I normally buy gas at and saw that the price was still $3.49. I had a meeting at 6:30 and took my wife's car because she told me she needed gas. I decided to wait until after my meeting to get gas for her. My meeting ended at 7:45 at which time gas was now $3.69. And yet the price per barrel keeps coming down. I sure would like to see where gas prices were the last time oil was around $100/barrel.
0 Replies
 
Bi-Polar Bear
 
  2  
Reply Fri 12 Sep, 2008 01:05 pm
@Cliff Hanger,
I meant $.35 a gallon....still rape...and their excuse will be that gas went up at the wholesale level because of Ike fears.... so it's not price gouging...even though this is gas they purchased pre Ike... no form of government, local state or federal will attempt to do anything about it. We are on our own folks.
Cliff Hanger
 
  1  
Reply Fri 12 Sep, 2008 01:09 pm
@Bi-Polar Bear,
.35 cents is a lot. It was down to around $3.50 a gallon two days a go, I bet it's shot up again.

Crap.

0 Replies
 
shewolfnm
 
  1  
Reply Fri 12 Sep, 2008 01:43 pm
http://uk.youtube.com/watch?v=3ueEfRXZCVA

get started.
0 Replies
 
Bi-Polar Bear
 
  1  
Reply Fri 12 Sep, 2008 03:50 pm
gas up to 5.00 now with maximums.... 3.55 yesterday...
0 Replies
 
Brandon9000
 
  1  
Reply Fri 12 Sep, 2008 04:10 pm
@Bi-Polar Bear,
Bi-Polar Bear wrote:

based on the fact it looks like Ike will do no major damage to installations in the Gulf.

http://www.breitbart.com/article.php?id=080912180129.q17mk87c&show_article=1

Meanwhile, this morning.... gas went up $35 a ******* gallon because Ike MIGHT hit an oil installation....seriously...when is enough going to be enough?

It is my stated belief that the people in power with Big Oil and the government officials , stock traders, anyone else responsible for this anal rape of Americans should be dragged from their sanctuaries and offices.... scourged with leaded thongs and either crucified or hung in public and then have their heads put on posts as a warning.

When will enough be enough? And btw..... don't blame this on terrorists, OPEC and Saddam Hussein. We are being raped by American citizens for profit.

In this case I agree with you totally. At the moment, I think maybe the refineries are the cuplrits.
0 Replies
 
hamburger
 
  2  
Reply Fri 12 Sep, 2008 06:02 pm
@Bi-Polar Bear,
refineries are shutting down !

link : http://www.beaumontenterprise.com/business/local/local_refineries_shut_down_in_anticipation_of_ike_09-12-2008.html

from beaumont news :

Quote:
Local refineries shut down in anticipation of Ike
By HEATHER NOLAN
September, 12, 2008

Around 4 a.m. Friday, Motiva's Port Arthur refinery started to shut down operations, spokeswoman Verna Rutherford said in an e-mail.

The refinery produces 275,000 barrels of crude oil per day.

Valero started to shut down its Port Arthur 325,000 barrel a day plant Thursday afternoon.

Beaumont's ExxonMobil refinery also began to shut down operations Thursday night, according to emergency management officials.

Valero spokesman Bill Day said at minimum, it would take a few days to restart a refinery after a complete shut down. Depending on the amount of damage and the availability of electricity, natural gas, hydrogen and nitrogen - all of which are necessary for operating a refinery - the process could take weeks.

Total representatives were not immediately available.

Hurricane Ike is expected to bring a storm surge 20 feet above the normal tide levels, according to the National Weather Service.

In Port Arthur, the seawall and levy system is about 16 feet high, so a 20 foot surge would overtop it.


also google "ike+refinery shutdown" for more news .

refinery shutdowns = lower gasoline supplies = higher gasoline prices
hbg
0 Replies
 
Intrepid
 
  2  
Reply Fri 12 Sep, 2008 07:29 pm
Here it was $1.19 a litre yesterday. This morning it was $1.36 That is $5.44 a gallon!
hamburger
 
  2  
Reply Sat 13 Sep, 2008 08:00 am
@Intrepid,
outside city limits $1.23 liter - i filled up <GRIN> , back in the city $1.39 - we'll see what it is today .
hbg
hawkeye10
 
  1  
Reply Sat 13 Sep, 2008 10:44 am
Quote:
Gas Price Jump | 11:57 a.m. Hurricane Ike left the Gulf of Mexico behind hours ago, but it seems to have left an impression on energy prices. AAA today estimated that the nationwide gas price was $3.733 a gallon, more than a 6 cent increase, The Associated Press said

http://thelede.blogs.nytimes.com/2008/09/13/following-hurricane-ikes-landfall/index.html?hp
0 Replies
 
Bi-Polar Bear
 
  2  
Reply Sat 13 Sep, 2008 10:49 am
@hamburger,
I can certainly see why oil refineries shutting down in Texas would effect gas prices in Canada Question
hawkeye10
 
  4  
Reply Sat 13 Sep, 2008 10:53 am
@Bi-Polar Bear,
the government temporarlly have allowed for suspension of mix rules mandated by the epa for certain areas, so the same gas can be sold anywhere. Because America will produce less gas for a few days Canadian gas will flow south where it can get a higher price,thus the Canadians get to pay for America a) not having extra refinery capacity and b) for putting the majority of our refineries in a hurricane zone.
Bi-Polar Bear
 
  1  
Reply Sat 13 Sep, 2008 11:22 am
@hawkeye10,
well that makes sense
0 Replies
 
hamburger
 
  2  
Reply Sat 13 Sep, 2008 01:11 pm
@hawkeye10,
hawk wrote :

Quote:
Re: Bi-Polar Bear(Post 3400564)
the government temporarlly have allowed for suspension of mix rules mandated by the epa for certain areas, so the same gas can be sold anywhere. Because America will produce less gas for a few days Canadian gas will flow south where it can get a higher price,thus the Canadians get to pay for America a) not having extra refinery capacity and b) for putting the majority of our refineries in a hurricane zone.


less than a month ago a refinery in western canada had to shut down for maintenance .
a chain of service stations supplied by that refinery were without ANY gas for a couple of weeks or so .

one simply cannot build refineries or any other major structures to guarantee an unlimited supply of whatever goods - even in a disaster situation that might happen evey few years .
investment money from pension funds and any other investor has to go where they can make money for the investor . if they do not obey that rule , their investors (such as pensioners ) would be none too happy to find out that the fund has invested in a "dud" , and they would withdraw their monies : END OF STORY !

of course , if someone wants the "government" (the taxpayer !) , to foot such investments ... ... anyone care to answer that ?
hbg

(investment money usually goes where money can be made - but don't use the subprime mortgage market as an example <GRIN> . we can probably agree there was a lot of "payola" - also known as "bonus payments" - involved )

just read that 97 % of refineries in the texas gulfcoast area have shut down .
if water - particularly salt water - gums up the systems , there might be a lengthy wait for restart .
hamburger
 
  2  
Reply Sat 13 Sep, 2008 02:01 pm
@hamburger,
REFINERY SHUTDOWN UPDATE
---------------------------------------------

http://ap.google.com/article/ALeqM5iegCzko2qT3cUfD__XPxPGVOVMwgD935VFQG0

from AP - see link to complete article above :

Quote:
The Sabine Pipe Line, a crucial natural gas conduit, has been shut down, according to the CME Group, parent of the New York Mercantile Exchange.

The CME made a finding of force Majeure for all remaining delivery obligations for September natural gas contracts.

Refineries along the upper Texas Gulf Coast account for about one-fifth of the nation's refining capacity. Exxon Mobil's refinery in Baytown, outside Houston, is the nation's largest.

Valero's refineries at Houston, Texas City and Port Arthur remain shut down, and all three have lost power.

 

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