PRICE OF CRUDE OIL CLOSES AT $100.01/BARREL TODAY

[AngusYoung]

PB is correct - it will take record prices for more emphasis on alternative energy sources to be developed and used. Bring them on. I'll take some pain @ the pump to see some light @ the end of the tunnel. Maybe knowsnothing wants to go live in the shadows of Koch refinery and then talk about all the silly regs we have.

AY

[Can't Never Tried]

So its not the prices that bother CNT, its the amount of the profit.

Typical entitlement type thinking from the left coast.

He is shown that gas prices when adjusted for inflation are actually down from 25 years ago but he still has to complain and criticise our great country and its statesman leader, President Bush.

BIAFP is right. Its all the Unions fault. Everything.

But CNT wants to blame it all on the poor attorneys who only want justice for their clients. Shameful.

I say let gas prices soar so we have some incentive for development of alternative energy. This, my fellow US Americans, is the type of change we need. So, get out their and vote for....... well, there really isnt anybody so call Amy Klobochur on her cell phone............. nah, that wont work......post on minnhock and make America strong agian.

Happy days are here again, the sky is almost clear again......................

PB you're such a spin doctor! what else can I say. You actually have no position your self, (Slappy Style ) you just like to poke.

We do have such an honest and for the people government today, we should never object, just blindly accept what they throw out there.
After all we the people allowed it to happen.

I didn't blame attorneys, I said it's part the of high health care cost the malpractice ins. you must have read between the lines there.


Funny comment on the minnhock deal!! especially from you

Hey you just missed the bus!

[Knowlzee]

Angus, maybe Knowsnothing already lives in the shadows of Koch (now Flint Hills Resources). Love the clouds above and the smell of petroleum, a constant reminder that when the fuel tank gets low, there is gas at the nearby station.

We just need a few more of them, so the price of gas doesn't go up every time a pipe breaks, because they are operating at 97% of capacity.

Go ahead people and get your hydrid, and feel good about yourself,....that solution is only temporary at best,......but if it makes you feel like your making a difference,.....go ahead. How about a mini Cooper,.....I hear they get pretty good gas mileage, too.

Us Americans need to wake up.

[Can't Never Tried]

Angus, maybe Knowsnothing already lives in the shadows of Koch (now Flint Hills Resources). Love the clouds above and the smell of petroleum, a constant reminder that when the fuel tank gets low, there is gas at the nearby station.

We just need a few more of them, so the price of gas doesn't go up every time a pipe breaks, because they are operating at 97% of capacity.

Go ahead people and get your hydrid, and feel good about yourself,....that solution is only temporary at best,......but if it makes you feel like your making a difference,.....go ahead. How about a mini Cooper,.....I hear they get pretty good gas mileage, too.

Us Americans need to wake up.

Yeah... but I'm pretty sure they require premium

[Knowlzee]

Yah, a little more at the pump,......but you can't put a price on the comfort and safety.

I gotta go, my vehicle is running to warm up,.....going to the station to fill it up, so I don't have to walk to the hockey game tonight.

[Can't Never Tried]

Yah, a little more at the pump,......but you can't put a price on the comfort and safety.

I gotta go, my vehicle is running to warm up,.....going to the station to fill it up, so I don't have to walk to the hockey game tonight.

Be sure to car pool !

[AngusYoung]

Encouraging to hear that you are not a "not in my backyard" type of guy - I guess I can't fault you if you "breathe" what you preach. Would there be anything wrong with attempting to develop alternative energies that work well and are easier on the environment? Seems to me it's a win/win albeit more expensive. But at what cost to we continue to go down the road we're going?

AY

[Can't Never Tried]

Would there be anything wrong with attempting to develop alternative energies that work well and are easier on the environment? Seems to me it's a win/win albeit more expensive. But at what cost to we continue to go down the road we're going?

AY

I think it is being done but there are forces that want us to stay addicted to oil.

Check this out or maybe you've read it, but I found it to be interesting.
http://www.lifeaftertheoilcrash.net/

[BIAFP]

$10 a gallon gas......bring it on

[EREmpireStrikesBack]

ER thinks $100 per barrel will last a "long, long time". Maybe, it may even go down, but probably only for a short time unless us Americans happen to wake up.

What do you think would happen to the price of oil if, us Americans demanded from our fearless leaders in Washington to relax all the silly environmental regulations,......so another refinery could be built,......or a few oil rigs could be added, possibly in that paradise in Alaska referred to as ANWR? Would the price of oil fall, do ya think?

More importantly, we would be keeping $100 per barrel of oil in our own country and economy, rather than send it overseas, to many of the people that don't really like us that much. I wonder if any of that money is being used to support the insurgents our soldiers are battling in Afganistan and Iraq?

Ya, us Americans better wake up.

You, sir, are completely incorrect with what you said about my statement.

[Knowlzee]

Just got back from the fill, only $2.96 for gas, unfortunately mine takes the $3.51 diesel kind. That mini Cooper is looking better all the time.

AY, other alternatives are fine, and as the price gets higher don't you think we are going to see more and better alternatives from the market on it's own? As the price gets higher it will be more economical to develp better alternatives, and the smart people will develop them and sell them to us for the market rate. The free market is a wonderful thing.

The problem today is the alternatives are being driven by the government (because they have us convinced we will destroy the world if we don't), and they subsidize things (i.e ethanol). Ethanol may be the answer (I doubt it), but if it is, the market would determine it,.....it wouldn't need to be subsidized. All the subsidy does is take our money and give it to those guys in "overalls and flannels". Don't get me wrong, I don't mind giving money away, but I'd rather choose myself, who to give it too.

But, if you read CNT's article, it isn't about money,.....it's about the eventual decline in production (right hand side of this bell curve) that's going to start in 2008 (been generally flat since the 1970's, but going to fall of the cliff this year). My favorite part in the article is where soon, us "carless suburbanites would trudge to their nearest big box stores, not to buy Chinese made clothing transported cheaply across the globe, but to scavenge glass and copper wire from abandoned buildings." Man that going to be crappy! Not looking forward to that at all!

The article was written by Matt Savinar from Santa Rosa, CA, Political Science degree from U Cal-Davis, lawyer, etc.. There are many Scientists (that's without the political part) that say there is an abundance of oil in this earth. But, if you can't trust Matt from Santa Rosa,.....who can you trust?

................$3.51 a gallon, maybe I'll walk to game.

[Can't Never Tried]

Have you ever wondered why gas goes up 1-2 days before the 4th of July or Labor day, Thanks Giving or any big travel weekend only to retreat by late Sunday or Monday?
I'm sure it's just a coincidental blip in the supply/demand process right.
I mean how were they supposed to know that the 4th of July was coming?
Geez

I have no problem paying whatever the fair market price is, but only a fool would believe that your not being gouged!

[PASTRAPIDSFAN]

Have you ever wondered why gas goes up 1-2 days before the 4th of July or Labor day, Thanks Giving or any big travel weekend only to retreat by late Sunday or Monday?
I'm sure it's just a coincidental blip in the supply/demand process right.
I mean how were they supposed to know that the 4th of July was coming?
Geez

I have no problem paying whatever the fair market price is, but only a fool would believe that your not being gouged!

I feel it every opening fishing and deer hunting when all the citiods come up to the northland and the locals pay the high prices.we should have this north of 200 user fee so the locals wont get burnt at the grocery store and gas pumps,the fee will supplement the price difference

[tomASS]

may I contribute ?

[tomASS]

Have you ever wondered why gas goes up 1-2 days before the 4th of July or Labor day, Thanks Giving or any big travel weekend only to retreat by late Sunday or Monday?
I'm sure it's just a coincidental blip in the supply/demand process right.
I mean how were they supposed to know that the 4th of July was coming?
Geez

I have no problem paying whatever the fair market price is, but only a fool would believe that your not being gouged!

I also believe in the free market system and that oil may have been undervalued in price for a long time. However I agree with CNT here.

Gas stations because of their ability to manipulate the prices in an electronic heart beat, are playing the ultimate game. Their supply does not waiver substantially but their ability to track demand allows them to manipulate the price within a day if not just hours because of expected demand depending on the day of the week. The gas they have in storage one day is the same cost for them the next day (until a new shipment comes). It does not swing wildly.

I think what upsets people about the cost of the pump is it fluctuates wildly like the markets and most people are not use to buying day to day commodities in that fashion.

How would you feel if all the grocery stores had this type of electronic control? Milk would be another 15-25 cents more expensive on the weekend and go done again on Monday. They will have this type of ability in less than 5 years and it would be sooner if not for the number of SKUs they manage.

[Knowlzee]

Foolish or not, it (the price) is what it is. If it were a larger purchase, we would negotiate it.

With a twenty gallon tank @ $3.00 a gallon it will cost $60.00, on the Friday before the holiday it goes up $0.03, or $0.60 for the fill. Is there really a difference between $60.00 and $60.60? Isn't that $0.60 additional cost, just more annoying than of any real substance?

And if it is of real concern, fill up on Thursday,.....save 60 cents,......or do the family vacation on the weekend before the holiday,......save 60 cents,.......stay home, and take the family to the Timberwolves,.....save 60 cents (and totally waste $200).

Maybe TomASS has it nailed in the last paragraph, how would we "feel". Maybe if we can get past the emotions of price fluccuations, The "gouging" won't "feel" so bad.

P.S. Maybe the media should also keep take of the price drops, and write a story about the "benevolent price discounting" by the gas companies.

[tomASS]

P.S. Maybe the media should also keep take of the price drops, and write a story about the "benevolent price discounting" by the gas companies.

But I can assure you when the benevolent price discounting occurs that the margin comes down to their standard benchmark goal.

Just give me a cost averaged price on a monthly basis so the daily fluctuations are minimized. It is in the marketing perception of the constant up/downs that drives some of us insane.

Your right an additional 60 cents isn't much. Can't even buy off the dollar menu or get anything during happy hour with that.

[Can't Never Tried]

Right .60 isn't much times one individual, but how many people travel on those days?

And what is the reason for it changing at all, coincidence?

[tomASS]

Right .60 isn't much times one individual, but how many people travel on those days?

And what is the reason for it changing at all, coincidence?

Not a coincidence at all - Target calls it margin enhancement but they typically take it out on their vendors to achieve it.

that's why they should do an analysis and cost averaging on a monthly or quarterly basis. When the stations do play with the pricing, stop making it so apparent. The inventory's cost they have on hand today, is not affected by the cost of crude today. They are just taking advantage of perceived market conditions by the general public.

[Knowlzee]

Of course it is not a coincidence,......it's to make us "feel" bad,...........and it's appears to be working.

Seriously, isn't it more the fact that the price is around $3 a gallon, rather than $1, that is more disturbing that the fluccuations? And probably that the fluccuations suggest to us that the price is more likely to go much higher, rather than back to $1. Isn't that the real concern? Isn't that the real problem,.....and a real problem it is (even in affluent America).

Which brings us back to the initial point. How about drillling more of our own wells (take a little influence and revenue away from OPEC),.....and building more refineries (so they aren't operating at 97% of capacity). We already have the equipment and know how to drill a well,....and build and operate a refinery. Isn't it much easier to drill, build, and operate (not to mention much more economical),......than develop new technologies with government subsidies. Again let the free market work, the technologies will be developed on there own as the price of oil increases,.....or not, if the price doesn't warrant it.

Granted, drill, build and operate depends on the fact that there is plenty of oil in this earth, and specifically our country. Which brings us back to, do you believe scientists specializing in geology,......or political scientist Matt, from Santa Rosa. For some reason, us Americans at this time seem to be more willing to believe,.....Matt from Santa Rosa.

[tomASS]

Which brings us back to the initial point. How about drillling more of our own wells (take a little influence and revenue away from OPEC),.....and building more refineries (so they aren't operating at 97% of capacity). We already have the equipment and know how to drill a well,....and build and operate a refinery. Isn't it much easier to drill, build, and operate (not to mention much more economical),......than develop new technologies with government subsidies. Again let the free market work, the technologies will be developed on there own as the price of oil increases,.....or not, if the price doesn't warrant it.

Granted, drill, build and operate depends on the fact that there is plenty of oil in this earth, and specifically our country. Which brings us back to, do you believe scientists specializing in geology,......or political scientist Matt, from Santa Rosa. For some reason, us Americans at this time seem to be more willing to believe,.....Matt from Santa Rosa.

I agree here, and if we pump enough maybe we can make some money selling oil to China and Japan.

I also think Mexico owes us about 2000 barrels of crude for every illegal immigrant of theirs that is here in the US - refined of course since we don't have enough facilities to take care of the unprocessed stuff.

[wbmd]

I also think Mexico owes us about 2000 barrels of crude for every illegal immigrant of theirs that is here in the US - refined of course since we don't have enough facilities to take care of the unprocessed stuff.

Sounds good to me.

[Can't Never Tried]

I also think Mexico owes us about 2000 barrels of crude for every illegal immigrant of theirs that is here in the US - refined of course since we don't have enough facilities to take care of the unprocessed stuff.

Sounds good to me.

They'd probably smuggle another one over in each barrel!

[Govs93]

I also think Mexico owes us about 2000 barrels of crude for every illegal immigrant of theirs that is here in the US - refined of course since we don't have enough facilities to take care of the unprocessed stuff.

Sounds good to me.

They'd probably smuggle another one over in each barrel!

I'll also add that I'm a little tired of the "unrefined gas" courtesy of our friends south of the border.

You hear what I'm sayin'.

(It's Friday... Gimme a break)

[Can't Never Tried]

So were at $109+ a barrel as of today I'm sure that nearly 10% increase over the last 30 days is a supply /demand issue

Anyways....I read that as the fed reduces the prime rate to help stimulate growth, then oil prices are rising with that???