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      05-21-2008, 09:20 AM   #1
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More good news regarding the price of oil!

As you know, I've been keeping you apprised as to the ceiling price of oil. Today's chart shows that oil can't go higher than $130/barrel. What a relief!

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      05-21-2008, 09:30 AM   #2
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LOL Really?? http://biz.yahoo.com/ap/080521/oil_prices.html?.v=13
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      05-21-2008, 09:34 AM   #3
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Quote:
Originally Posted by EK_335i View Post
ooops....
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      05-21-2008, 09:35 AM   #4
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And we can't get the 320d because???

Anyone have a definitive answer as to why the price of diesel has gone up so sharply? I understand that the low sulfur refining is more costly, but it still should be less than gas. The conspiracy theorist in me is thinking that BMW/VW/MB would sell a zillion diesels, whereas GM, Ford, etc. have been caught with their pants down. Again. So the petro distributors have to save their butts by making diesel costly.
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      05-21-2008, 09:37 AM   #5
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      05-21-2008, 09:39 AM   #6
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Quote:
Originally Posted by stressdoc View Post
Anyone have a definitive answer as to why the price of diesel has gone up so sharply?
My understanding is that diesel is taxed higher than petrol, to pay for the interstate system. The "logic" is that big trucks do more damage to the road, and they are diesels, so instead of putting up tolls or taxing trucks directly, just tax the fuel.
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      05-21-2008, 09:42 AM   #7
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Am I the only one that sees the positive side of this price escalation? I understand that for many people every $1 that it goes up means less money for food. But on the flip side this is already changing the mentality of many that treated fuel as it was water from the ocean. The current price hike is another bubble (did someone say Dot com? or Housing market?) it's speculative race of money hungry investors. Sure enough in the near future there will be a big article on CNN showing "poor and upset" fat bastards in suits crying about how they lost so much money in their energy investments.
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      05-21-2008, 09:53 AM   #8
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^ well stated
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      05-21-2008, 09:53 AM   #9
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Originally Posted by stressdoc View Post
And we can't get the 320d because???

Anyone have a definitive answer as to why the price of diesel has gone up so sharply? I understand that the low sulfur refining is more costly, but it still should be less than gas. The conspiracy theorist in me is thinking that BMW/VW/MB would sell a zillion diesels, whereas GM, Ford, etc. have been caught with their pants down. Again. So the petro distributors have to save their butts by making diesel costly.
Not sure why but I'm starting to think that bringing diesels to the US now is not going to be a big hit for consumers. Diesel is about $4.40 and premium is $3.90 around me. That is a .50 cents difference. Their is no way on earth a diesel is going to get greater then a .50 cents difference in MPG for me to switch to a diesel and if you are coming from a car that uses regular you are looking at a .70 cents difference. Diesel are not going to be a big hit in the US if this trend continues. I would not be surprised if this continues that car companies discontinue bringing diesel's to the US and focus more on electric/gas hybrids.
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      05-21-2008, 09:59 AM   #10
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Did anyone catch this article?

http://www.cnn.com/2008/LIVING/wayof...tro/index.html

Used Geo Metro's fetching up to $7,300!?
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      05-21-2008, 10:00 AM   #11
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Quote:
Originally Posted by EK_335i View Post
Not sure why but I'm starting to think that bringing diesels to the US now is not going to be a big hit for consumers. Diesel is about $4.40 and premium is $3.90 around me. That is a .50 cents difference. Their is no way on earth a diesel is going to get greater then a .50 cents difference in MPG for me to switch to a diesel and if you are coming from a car that uses regular you are looking at a .70 cents difference. Diesel are not going to be a big hit in the US if this trend continues. I would not be surprised if this continues that car companies discontinue bringing diesel's to the US and focus more on electric/gas hybrids.
Agreed, not to mention that when everyone starts driving diesel the supply vs demand is going to change and at the end it's going to be pretty much the same price regardless of what it is you dive. Public transport and small cars and scooters is the answer. In this day and age if you drive a Hummer and don't live up in a mountains with no paved roads you are a jackass in my book... sorry.
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      05-21-2008, 10:02 AM   #12
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Quote:
Originally Posted by STE92VE View Post
As you know, I've been keeping you apprised as to the ceiling price of oil. Today's chart shows that oil can't go higher than $130/barrel. What a relief!

yea it passed 130 actually. im loving it!
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      05-21-2008, 10:03 AM   #13
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what do you guys think of goldman's prediction of a "superspike to $200"
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      05-21-2008, 10:39 AM   #14
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...and it keeps going up... http://biz.yahoo.com/ap/080521/oil_prices.html?.v=13
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      05-21-2008, 10:41 AM   #15
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Quote:
Originally Posted by e90fanatic View Post
what do you guys think of goldman's prediction of a "superspike to $200"
I like Boone Pickens' $150, for now. Of course, if the narrow, shallow channels outlined in purple below get blocked while the next prez negotiates, the sky is the limit. 30% of the oil the world uses needs to go through them. Oil will go just high enough to cause an economic collapse.

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      05-21-2008, 10:48 AM   #16
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Quote:
Originally Posted by Majikthese42 View Post
I like Boone Pickens' $150, for now. Of course, if the narrow, shallow channels outlined in purple below get blocked while the next prez negotiates, the sky is the limit. 30% of the oil the world uses needs to go through them. Oil will go just high enough to cause an economic collapse.
Nice thinly veiled political swipe at Obama, but utter bullshit.
Do you honestly think that the next president, regardless of who he or she is, would continue to "negotiate" if Iran pulled off such a stupid move?
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      05-21-2008, 10:57 AM   #17
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i need a freight fuel card.
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      05-21-2008, 11:05 AM   #18
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Originally Posted by jmsent View Post
Nice thinly veiled political swipe at Obama, but utter bullshit.
Do you honestly think that the next president, regardless of who he or she is, would continue to "negotiate" if Iran pulled off such a stupid move?
Right on the money. Pure bullshit..
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      05-21-2008, 11:07 AM   #19
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This is awesome news for me! A couple of years ago, I could barely keep my family fed. But then one day I was shootin' at some food, and up through the ground came a bubblin' crude! Oil, that is. Black gold. Texas tea. YEEEEE HAW!

BTW - our gas prices have what, doubled? Tripled? In the last couple of years. Has it been the same for Europeans, who already were paying a sh*&load for gas?
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      05-21-2008, 11:19 AM   #20
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Quote:
Originally Posted by noro View Post
Am I the only one that sees the positive side of this price escalation? I understand that for many people every $1 that it goes up means less money for food. But on the flip side this is already changing the mentality of many that treated fuel as it was water from the ocean. The current price hike is another bubble (did someone say Dot com? or Housing market?) it's speculative race of money hungry investors. Sure enough in the near future there will be a big article on CNN showing "poor and upset" fat bastards in suits crying about how they lost so much money in their energy investments.
I agree 100%... When I moved back to the US 3 years ago from Germany, all I would talk about is how great the diesel motors are (efficiency and power) and no one would even pay attention to me. Now, everyone is shit canning their Canyoneros for Priuses, and now they are all asking me about those diesel motors that I always talked about.
I'd gladly pay an extra 10 bux a tank to get some of these big ass vehicles off the road..
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      05-21-2008, 11:40 AM   #21
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Quote:
Originally Posted by stressdoc View Post
And we can't get the 320d because???

Anyone have a definitive answer as to why the price of diesel has gone up so sharply? I understand that the low sulfur refining is more costly, but it still should be less than gas. The conspiracy theorist in me is thinking that BMW/VW/MB would sell a zillion diesels, whereas GM, Ford, etc. have been caught with their pants down. Again. So the petro distributors have to save their butts by making diesel costly.
Diesel fuel is actually cheaper to refine than regular gasoline. The major issue is the amount that is being refined. In the U.S. there are only a handful of oil refineries working full-time. These refineries dedicate only about 20% of their capacity to the making of diesel fuel.

Its a matter of supply and demand for these companies in regards to the refining aspect. More people requesting gasoline warrants these companies to produce more gasoline.

Now... that being said... Diesel fuel cars are becoming more popular here in the states due to the better gas mileage, efficiency, etc. The problem is, because of the rise in demand for diesel, the refineries might begin to make more diesel fuel, but the pricing economics of supply vs. demand will continue to push the price higher, even though more is being produced.

The only way this is going to get better is if the government does their job. The oil companies are working with each other to create a monopoloy on this industry. It is the responsiblity of the those that "lead" us to end this issue, just as the government has in the past. They need to break up the monopoly on the industry, but this will never happen as long as those in power have monetary gain tied to the oil industry, and I am not even anti-Bush. I just think there is a severe conflict of interest that exists there.

Those are my two cents.
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      05-21-2008, 11:43 AM   #22
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i need a freight fuel card.
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