Winter Concerns Push to Record High ($52.33/bbl)

Reuters ^ | October 7, 2004 | Tanya Pang

[RWR8189]

10/07/04 Session Contract Detail for November 2004

	Last				52.33
	Open High				52.00
	Open Low				52.00
	High				52.38
	Low				51.92
	Settle				52.02
	Change				0.31
	Open Interest				201443
	Volume				0
	Last Updated				10/07/04 02:43:40

[RWR8189]

[NautiNurse]

Those global cooling mongers keep saying that loads of hurricanes will mean a wicked cold winter.

If the scrawny Florida squirrels are an indication---we should be seeing snow by Thanksgiving. They have placed pecans (from what is left of the tree) on top of gasoline cans, propane tanks, garden rakes, shovels, tarps...then they have buried pecans too...these are witnesses squirrel placements, as opposed to hurricane tossings.

[NautiNurse]

please hum a few bars...what song are you singing?

[zr2hammer]

Oh why, oh why, didn't I buy stock in this?!

[Finalapproach29er]

Not a peep from Bush. This is really starting to make me angry.

If you're not going to fix it, then at least blame the Democrats for blocking it.

He won't even do that much.

[Dane]

Not a peep from Bush. This is really starting to make me angry.

If you're not going to fix it, then at least blame the Democrats for blocking it.

He won't even do that much

Uh how can he fix it, when the demos in the Senate(i.e kerry) block his energy bill.

Funny how you don't blame kerry, who has votes on record blocking exploration.

[xzins]

I think it's gonna be an early and cold winter but not because of global warming.

I don't think warming = cooling. Something's wrong when we get to arguing that the opposite of what's happening is a sign that we're right. I'd say you better change your basic theory....something's wrong with it.

[xzins]

America has the world's largest coal reserves. Time to invest in and switch to clean coal technologies. We could replace all of the foreign oil we import with just 1 billion tons of coal a year. That would increase us to 2 billion used each year....and we'd have an 800 year supply.

Let the camel jockeys eat sand.

The best mid-east solution....take away their oil money and power....coal.

The best American energy solution...self sufficiency...coal.

[#1CTYankee]

"The best American energy solution...self sufficiency...coal."

Bought a wood pellet stove 4 years ago. I heat my 1,800 sq ft home on 3 tons for an entire year.
179.00 x 3 = 537.00 not bad eh?

[ladyrustic]

Could it be the towel heads are raising price on purpose, to put a damper on our economy right before the election?

[Finalapproach29er]

What's to stop Kerry from blocking it in the future as President or Senator? Not a peep about energy;its not even on the table.

BTW: Kerry is a whacko on this issue, and has a awful record-yet we hear nothing. Who is prepping W? They should be fired.

This will smother our economy eventually if something isn't done. Bush better make it an issue soon.

[OldFriend]

Clearly there is speculating going on. Soros?

[Rutles4Ever]

$52.50 now.


Question: When gasoline spiked above $2 last year, oil was around $30 a barrel. We're nearly DOUBLE that now, and gasoline is still hovering at or around $2. Now, the laws of supply and demand cannot be circumvented. So, one of these scenarios must be true:

1) Oil companies have been grossly overcharging the public vis-a-vis oil prices and the pump, or

2) Gasoline will be at $3 in sudden fashion, or

3) Demand is slowing.


We know #3 is false. So, either we will see a spike in gaosline prices very shortly, or the #1 scenario has to be true. I'm personally guessing the #2 scenario is the true scenario. I'm guessing the oil companies are doing their best to keep prices in check with the election coming up.

Any comments?

[Fury]

Uh how can he fix it, when the demos in the Senate(i.e kerry) block his energy bill.

I want GW to hammer this point home at the debate. Because I have to believe that fuel prices will be an issue.

Kerry will do nothing, other than perhaps raise the gasoline tax, to cope with this problem. he is too beholden to eco-nazis to do much else.

[Sloth]

But I thought Bush had a secret deal with the Saudis to drop oil prices before the election!

[OldFriend]

Not so sure about the demand not slowing.

Both coasts saw lower average temps this summer and therefore used less energy.

We have no idea whether the winter will be severe or mild.

I vote for speculation and something sinister too.

Talking heads now saying this means the economy will be in a free fall next year.

Politics? Of course.

[irishlass]

Bought a wood pellet stove 4 years ago. I heat my 1,800 sq ft home on 3 tons for an entire year. 179.00 x 3 = 537.00 not bad eh?

Dittos-our home is 3500 square feet (three stories) and because heat rises, our pellet stove heats the whole house with very little help from our heat pumps. Also, we are in a rural area where field corn is cheap-most pellet stoves will burn a 50/50 mixture of corn/pellets. This leads to even more savings.

[groanup]

What oil shock? Read it here:

http://www.bloomberg.com/news/commentary/cbaum.html