Oil Prices

Joe Camper · November 17, 2011, 12:39:54 PM

We can no longer overlook all the other combined expences of owning one of these campers including fuel, when it costs 80 cents plus per mile for the cost of fuel alone.

I know we are not alone.

Rick59-4104 · November 17, 2011, 02:02:55 PM

Diesel gets to $4.50 plus (I know in parts of the country it is already there) prices of everything goes up even more than now, economy crashes again, fuel drops to under $2.00 gallon like 3 years ago, economy starts to improve, fuel prices go up, economy crashes, repeat, repeat, repeat.

Meanwhile our members of Congress (who I believe are responsible for most of the economic mess we are in) has a positive approval rating about 15% but a reelection rate of about 98% keeps on sticking it to us. We keep on sending these self serving idiots back to Washington. If they are in office vote them out. I can look at most of them and tell they are snakes.

Rick

Paladin · November 17, 2011, 02:04:25 PM

I'm watching the prices with interest. I've watched silver drop nearly 10% in two days and gold about 3%. These may not seem like much but to a small investor it can be scary. I've considered oil but it seems more volatile than metals and selling my soul to the guys who are killing me price wise. Maybe bad attitude for investing..
I can only hope that the metals go up and oil comes down, what's the chances of that happening? They'll all go up eventually is my bet.

As it pertains to a bus, rv or suv we've decided that we'll just have to suck it up and go with it. Too many other reasons right now to keep the bus and the suv even if we can't go far, as often or at all.

luvrbus · November 17, 2011, 02:27:05 PM

2 ways to buy oil and fuel ,oil and fuel contract and the put option it not has risky as one thinks oil closed at 98 bucks a barrel because of profit takers tomorrow is another day

good luck

bobofthenorth · November 17, 2011, 02:37:35 PM

It would be great if everybody who thinks fuel prices go up straight line forever and the traders always make money would just go ahead and buy calls.

luvrbus · November 17, 2011, 02:43:40 PM

Get greedy it can cost you lol buying 2 unit of diesel and the min of 1000 barrels of oil it can wipe you out 1 unit of diesel is the same in gals as a 1000 barrels or a rail car tank

good luck

Paladin · November 17, 2011, 03:28:55 PM

Quote from: luvrbus on November 17, 2011, 02:27:05 PM
2 ways to buy oil and fuel ,oil and fuel contract and the put option it not has risky as one thinks oil closed at 98 bucks a barrel because of profit takers tomorrow is another day

good luck

I'm too chicken s!$#, I can't run with the big dogs. I'm too "safe" and unwilling to gamble big. I don't even play the tables in Vegas anymore after losing a hundred dollars (profit, I still had my initial playing money) for the first time after winning so much more so many times. It left a bad taste in my mouth for gambling. Besides, I don't have enough cash to play in those leagues, just small time and will probably always be.
Also, oil seems so volatile to me. Up and down 50 times a day and influenced by so many things, you never knowing where it'll land. Knowing me I'd get in right before a huge crash which would be great for us with our buses etc but disastrous to me financially. I like gold and silver I can actually hold and pet.......so lovely my pretty.....

Rick59-4104 · November 17, 2011, 03:48:50 PM

If a speculator had to have the facilities to actually take possession of any crude he bought on the market gas/diesel prices would probably be under $2.00 a gallon. This would limit speculation to those in the oil industry and then it would be truly free market/supply and demand setting the price we pay. As it is supply and demand has very little to do with the price.

Rick

Len Silva · November 17, 2011, 04:55:35 PM

I agree. I would love to see one of those super tankers pull up to pier 11 and ask Merrill Lynch where they want their oil.

belfert · November 17, 2011, 06:19:58 PM

There is a chain of gas stations called First Fuel Banks in St. Cloud, MN that allows one to prepurchase fuel at a fixed price. You deposit money into an account and the price of fuel on the day you deposit the money is the price you pay until your deposit is exhausted. A few years back they said they had customers still paying 99 cents a gallon.

The catch is the price for prepaying for fuel is very high. The per gallon price today for gasoline is $3.99 while drive up customers pay $3.19 a gallon. You essentially have to have a lot of money you can deposit and not use until fuel prices go up. It is unclear what happens if fuel prices never hit the price you paid for. I guess you end up losing money.

I live 80 miles from St. Cloud so this won't work for me. I don't have a ton of money I afford to gamble with anyhow.