Posted on 04/21/2006 10:46:54 AM PDT by Rutles4Ever
SAN FRANCISCO (MarketWatch) -- Crude-oil futures climbed to a high of $75 per barrel Friday for the first time ever for a front-month contract on concerns about tensions surrounding Iran's nuclear activities, violence in Nigeria, and tight U.S. supplies of unleaded gasoline. June crude was last up $1.26, or 1.7%, at $74.95 per barrel. "We often see this sort of short covering in a record-setting bull market ahead of a weekend, since nobody is sure where we may be Monday," said trader Kevin Kerr, who is also editor of MarketWatch's Global Resources Trader.
We have so many workers who can't commute due to distance or zero options, California will be hit hard.
Get ready for $4 a gallon !!!
However, they've been in the news lately much more than usual because of their new leader and his unusually heightened rhetoric.
Thus, the jump in oil prices.
Isn't $3.00 a gallon pretty cheap compared to other countries?
Most other countries tack on a much higher tax than the US does. The Norwegians are paying about $9 a gallon, but most of that $9 is taxes.
I talked to a lady this week who just returned from the UK. She paid the equivalent of about $6 per gallon in Birmingham, but again, most of that is tax.
Vote for Socialism and Market-Price fixing, that is what the USSR did for decades for fuel and consumer goods !
So go check out the pictures of people shopping for food in the old Soviet markets !!!
Woe betide the poor schmuck, however, who just earns enough to pay his own bills. Now he's gotta figure out how to afford to get to work - all because of some damned speculators.
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And this will cost us the election in 2006 and a presidential impeachment and troop withdrawls (and defeat to terrorist) in 2007.
Thank you evil speculators! You rule! Really!
It is not a refinery shortage now just the price per barrel of oil !!!
$4 is alraedy here check out Drudge Rport and the $4.04 on a gas pump picture there !!
I do the same. But the shipping uses gasoline, too. Food gets grown, processed and delivered to the store with use of gasoline. Fertilizer is produced on a feedstock of natural gas.
We are none of us independent of gasoline or any other fuel source.
We have a transportation cost for electricity also. Here, our utility uses coal. It comes from Wyoming, which is not that far away. However, when the railroads were deregulated, it left many plants with only one transport option and the price went up. There are bills to encourage railroad competition in both the House and Senate that have not been acted upon. We had a $0.05 increase this winter and will get another $0.05 increase in May, to $0.09+/kwh.
So, we aren't even seeing a free market in coal transport, nor are we independent of electricity.
I predict many small home-based businesses are going to have to factor in these costs (gasoline/natural gas/electricity) and either raise prices or go out of business. I raised my prices in June and cannot do so again for awhile. All my supplies have gone up, as well.
My propane supplier just set the lock-in for July 1,2006--June 30, 2007 at $1.55. This is just $0.02 over last year, when the cap was only from October 1,2005--March 1,2006. Propane is selling for over $1 wholesale and the usual formula is retail=2xwholesale. The volume contracted for is the same. Our budget payment also went up about 15% this winter. Due to frugality, wood heat and strict regulation of hot water usage, we so far have a substantial credit in our gas account.
Perhaps Ferrellgas anticipates that prices will fall?
I caught the beginning of that, but had to deal with business and missed Beckel's reply. What did he say?
I turned it over to the web after hearing Brenda's wonderful remarks and didn't hear Beckel's response either. But I've heard Beckel many times before, and it would be extremely unusual for him to admit to anything. Libs never admit it when they're wrong. Brenda had him dead to rights.
Do you have any idea how many vehicles on the road DO NOT support the use of ethanol? There was a guy on here yesterday whose 2003 got screwed up by a gas/ethanol mix..
How? The only problem you can have with using the usual ethanol blend (10%) is that it will clean off all the gum off the side of your fuel tank. That will plug up your fuel filter in a hurry.
I would like to see some tax incentives for companies to allow telecommuting for some of their employees. I think that could help ease the demand pressure, as well as alleviating traffic congestion.
If you're so convinced the speculators are wrong, you can bet against them and make a fortune.
I did not not say I am independent of oil, just much less than most. I am all electric and live within 30 miles of a Duke nuclear plant. I have space for a garden and if push comes to shove I could do without most heat or any cooling. Our area is pretty mild.
I actually make money on the shipping since the buyer pays and very little shipping runs over a dollar a shipment. I sell a small product that takes little space and is shipped in a small bubble mailer.
If things get really bad I have a 100 lb. sack of rice in the pantry and the basics for 6 months.
Two words for you.
Quit Driving.
I agree, I'll tell you what else I am sick of: having a congress and president who are more concerned with illegal aliens and the iraqi people than they are about us.
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