Good News on Gasoline Prices - Ready for the Drop?

Discussion in 'The Howard Stern Show' started by MyLazyHand, Sep 14, 2015.

  1. MyLazyHand

    MyLazyHand Russia and France Know What to Do

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    October and November gasoline futures are trading around $1.36 per gallon, which is 30 cents lower than today's prices.

    The refineries switch from summer blend to the cheaper winter blend over the next couple of weeks.

    Prices in NJ are under $1.90 per gallon in some places. Detroit is hovering at $2.00/gallon.

    There is an enormous glut of crude oil available in all parts of the world, and gasoline inventories are also high. With the end of summer driving season, demand normally drops off quite a bit.

    Goldman Sachs reported recently that crude prices might get cut in half again due to the huge production rates happening worldwide.

    Gasoline looks to stay cheap for a while. Enjoy.
     
  2. Beth143nacho

    Beth143nacho Well-Known Member VIP

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    Oil heat in my house ... 7,500 sq ft to heat... This will be appreciated
     
  3. MyLazyHand

    MyLazyHand Russia and France Know What to Do

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    Do you seriously have an estate that large? That's a lot of flooring to manage.
     
  4. Chibbs

    Chibbs Well-Known Member

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    There really isn't a glut of crude available.
    That's the fallacy.

    Saudi Arabia continues to over-produce as tacit help in our foreign policy against Russia.
    They get the added benefit of driving our oil shale producers into bankruptcy and secure
    more of the global crude market for themselves.

    The LAST securities house you should trust is Goldman-Sachs.
    They are the single most corrupt securities house on Planet Earth.

    Enjoy cheap gas while you can.
    The price spike is in the offing and when it hits, it has the potential to cause a global depression.
     
    popspot13 likes this.
  5. God

    God Well-Known Member

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    What happened to "peak oil"...?
     
  6. MyLazyHand

    MyLazyHand Russia and France Know What to Do

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    Glut of oil behind lower gasoline prices for Labor Day
    Updated September 1, 2015 6:38 PM

    IEA predicts sustained global crude oil glut till 2016
    • By Roseline Okere on August 13, 2015 9:23 pm
    Gas prices likely to fall with glut of crude oil


    It's always fun to argue with Chibbs because apparently he doesn't read anything in the news. Even when the people responsible for monitoring things like "gluts" say so, he argues otherwise.
     
    IfTheyOnlyKnew likes this.
  7. MyLazyHand

    MyLazyHand Russia and France Know What to Do

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    The same thing which will happen to the Global Warming people when the impact of the dearth of sunspots hits the way it did last time we went through a solar cycle like this one.
     
    Head Censor and CrucifiedAGT like this.
  8. No Head Games

    No Head Games Well-Known Member

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  9. Anyonenow

    Anyonenow Well-Known Member

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    OPEC Seen Lifting Output Even With $20 Crude Possible
    http://news.investors.com/business/...ontinues-goldman-warns-of-20-dollar-crude.htm

    IEA said low prices are lifting world demand that OPEC's low-cost producers should meet via increased production. Indeed, the energy watchdog said U.S. motorists are sending domestic gasoline demand to an eight-year high.
    That should give OPEC even more incentive to keep production high. The cartel shocked energy markets last November when it refused to trim production targets amid robust U.S. output. Crude collapsed, and OPEC members like Saudi Arabia pumped at record levels to force cuts from U.S. shale firms and protect market share.


    No Relief From Saudis

    Saudi Arabia
    hasn't backed down and on Friday said it doesn't support holding an emergency OPEC meeting to prop up prices, sources told Reuters. Venezuela had asked for a meeting as the country struggles to generate revenue amid cheap oil.

    U.S. crude futures settled down 2.8% to $44.63 per barrel, and Brent crude ended down 1.5% to $48.14. Oil's slide could get worse, according to a Goldman Sachs report Friday.

    Analysts there said the market was even more oversupplied than previously estimated, adding that because production takes months to slow down after rigs are removed, Brent oil could fall as low as $20 per barrel. But Goldman sees $20 oil as only "transient" and would help "immediately rebalance" supply and demand.
     
  10. Bentknee

    Bentknee Well-Known Member

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    He doesn't have any windows so he has to heat the yard also. That's where the 7500 square feet comes from.
     
  11. lilbuddy67

    lilbuddy67 A man with breath-taking anger management issues Banned User

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    I remember in 1990 barrels were $18-20 and gas was $1.18.
     
  12. artful dodger

    artful dodger Well-Known Member

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    it's under 1.90 right down the street (nj)
     
  13. Chibbs

    Chibbs Well-Known Member

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    It's always fun to educate shitheads who know nothing about the Oil & Gas industry.
    Lemmings like yourself swallow what the MSM gives you hook, line and sinker.
    Unlike yourself, my Engineering work is in Oil & Gas so I know a hell of a lot more about this than you ever will.

    Consumption and production really hasn't changed.
    There has been a marginal uptick in Global consumption during this price drop.
    The US has the SMALLEST REFINING capacity in its history.
    Production of CRUDE been relatively stable for some time.
    What has happened is the PRICE charged by the Saudi's.
    They are artificially keeping the price below their cost of production to destabilize the Russian Economy.

    The price of Gasoline has NEVER been tied to the supply of crude since then ending of the Arab Oil Embargo of the 1970s.
    it has ALWAYS been tied to the futures market.

    The Futures market is currently manipulated by Goldman-Sachs and other securities and brokerage houses.
    The question you should be asking yourself is WHY?

    Since you think you know so much from reading a newspaper, care to hazard a guess?
    If not, STFU.

    One more question for you.
    Why do you think the Obama Administration is so opposed to lifting the ban on the EXPORT of US Crude?
    Oh that's right.
    You didn't even know that US Crude can't be exported.
     
    Last edited: Sep 14, 2015
    popspot13 likes this.
  14. username

    username Well-Known Member VIP

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    Dollar is up about 40% against most of the other currencies in the world.
    = oil prices goes down since the arabs get 40% more money in their currency.

    But yes. Buy more oil and support the arabs. The world can only be saved if they get some nukes and solve the Howard problem.
     
  15. MyLazyHand

    MyLazyHand Russia and France Know What to Do

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    Chibbs is lecturing me about Oil & Gas. I suppose my years working as a Supervisor at a large heavy sour refinery didn't teach me what he knows to be true.

    Your post includes many items which I've posted recently. You must've forgotten those discussions.
     
  16. yaddc

    yaddc Well-Known Member

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    $1.50 a gallon by Xmas
     
    wife is a whore likes this.
  17. yaddc

    yaddc Well-Known Member

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    Just got it in central jersey 1.89 a gallon
     
    wife is a whore and SorryBoff like this.
  18. Chibbs

    Chibbs Well-Known Member

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    FROTFLMAO!


    Supervisor at a Refinery!
    That's funny!

    That's an unskilled position filled by the shitheads that didn't even finish high school.
    You must be from Oklahoma!
     
  19. MyLazyHand

    MyLazyHand Russia and France Know What to Do

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    It's possible and it seems nutty to me that we could get there.
     
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  20. yaddc

    yaddc Well-Known Member

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    Just read it on the internet