$90 a Barrel (Suburban Anyone ?)
#11
10-21-2007, 09:22 PM
RE: $90 a Barrel (Suburban Anyone ?)
my car doesn't need 91 that bad anymore I guess I can put the cheap stuff in it ...
#12
10-22-2007, 12:56 AM
RE: $90 a Barrel (Suburban Anyone ?)
ORIGINAL: SpaceRider
[align=center][/align][align=center]Many analysts feel that the underlying fundamentals of supply and demand
do not support oil prices of $90 a barrel. On Wednesday, the Energy
Department reported that oil and gasoline supplies rose more than
expected last week, countering suggestions that supplies are tight.
"Fundamental reasons, we're kind of running out of them," said James
Cordier, president of Liberty Trading Group in Tampa, Fla. "The main
driving factor today is ... the dollar making an all-time low against
the euro," he said.
Despite the gains, the price of oil is still below inflation-adjusted
highs hit in early 1980. Depending on the adjustment, a $38 barrel of
oil in 1980 would be worth $96 to $101 or more today.
Some analysts think oil prices are nearing a seasonal peak and will soon
begin to fall.
And if prices start to fall, they could fall quickly as speculators sell
to lock in profits.
"We don't think industry fundamentals support oil prices near $60 (a
barrel), let alone $90, but with excessive speculation and lack of
government scrutiny, prices could go even higher, before they crash,
eventually, in our view," said Fadel Gheit, an analyst at Oppenheimer &
Co., in a research note.
[/align]
[align=center][/align][align=center]Many analysts feel that the underlying fundamentals of supply and demand
do not support oil prices of $90 a barrel. On Wednesday, the Energy
Department reported that oil and gasoline supplies rose more than
expected last week, countering suggestions that supplies are tight.
"Fundamental reasons, we're kind of running out of them," said James
Cordier, president of Liberty Trading Group in Tampa, Fla. "The main
driving factor today is ... the dollar making an all-time low against
the euro," he said.
Despite the gains, the price of oil is still below inflation-adjusted
highs hit in early 1980. Depending on the adjustment, a $38 barrel of
oil in 1980 would be worth $96 to $101 or more today.
Some analysts think oil prices are nearing a seasonal peak and will soon
begin to fall.
And if prices start to fall, they could fall quickly as speculators sell
to lock in profits.
"We don't think industry fundamentals support oil prices near $60 (a
barrel), let alone $90, but with excessive speculation and lack of
government scrutiny, prices could go even higher, before they crash,
eventually, in our view," said Fadel Gheit, an analyst at Oppenheimer &
Co., in a research note.
[/align]
#13
10-22-2007, 06:25 AM
RE: $90 a Barrel (Suburban Anyone ?)
i'll still buy 93 octane, because no matter how high it gets, the 93 is still only 20 cents a gallon higher, and my car gets 2 mpg better with it ,so it really pays for itself.
#14
10-22-2007, 07:12 AM
RE: $90 a Barrel (Suburban Anyone ?)
I live in Canada. Currentl our prices are for 89 is $1.04 a Litre. Now 25 bucks only gives me a quater tank. I filled last night when the car was pretty much empty. I mean empty the Console said :Low Fuel" lol. Cost me $65.
#15
10-22-2007, 07:32 AM
RE: $90 a Barrel (Suburban Anyone ?)
ORIGINAL: bonang
I live in Canada. Currentl our prices are for 89 is $1.04 a Litre. Now 25 bucks only gives me a quater tank. I filled last night when the car was pretty much empty. I mean empty the Console said :Low Fuel" lol. Cost me $65.
I live in Canada. Currentl our prices are for 89 is $1.04 a Litre. Now 25 bucks only gives me a quater tank. I filled last night when the car was pretty much empty. I mean empty the Console said :Low Fuel" lol. Cost me $65.
Hi `Andrew,
I feel your pain [X(]
The oil companies are sure taking the fun out of
JoyRid'in/Driv'in.
If this continue's, the MCF will turn into a how to
get the best MPG's, instead of how to get the best performance, &
increase HorsePower : ).
Hey, you want to see who can get the most MPG Race : ) ?
Thanks for your post.
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