[xrp]

Ouch!

[The South Texan]

Here we go. Strap in, it's going to be a wild ride.

[pure_capitalist]

Exxon Mobil and all the other oil companies will make million$

[cmsgop]

In Seattle here, I will be filling up 2 cars at 4am,this sucks........

[RWR8189]

Will President Bush be releasing oil from the Strategic Petroleum Reserve to account for these supply disruptions?

[combat_boots]

Jesus, Mary and Joseph. We just might see 1/3 higher costs yet, you know that?

Time for some bed warmers.......

[Lazamataz]

This is getting f***ing absurd.

[EagleUSA]

Has anyone asked the question, "WHY should the price of crude oil go UP just because a few locations shut down??" We are talking about the price of crude here...WHY? other than just plain old greed and just another "excuse" to raise oil company profit...

[PilloryHillary]

Just filled up and paid $2.63 here in the Detroit suburbs. Gas is $2.75 in northern Michigan. It would be a good idea to get out this evening and fill up before the prices up again. We fully expect to be paying more than 3 bucks a gallon by the end of the week.

[Prophet in the wilderness]

Maybe they will discover more oil deposits in the Gulf and on shore after the hurricane passes.
Got to look at this in a positive light.
Hech, even Forest Gump cornered the shrimp market in the south after hurricane Camile. Sarcasm.

[RWR8189]

Light, Sweet Crude Oil

8/29/2005 Session Contract Detail for Oct 2005

	Last				70.39
	Open High				68.60
	Open Low				68.60
	High				70.80
	Low				68.60
	Settle				66.13
	Change				+4.26
	Open Interest				0.00
	Volume				0.00
	Last Updated				8/28/2005 19:13:57

 

Unleaded Gasoline

8/29/2005 Session Contract Detail for Sep 2005

	Last				2.1300
	Open High				2.0310
	Open Low				2.0310
	High				2.1300
	Low				2.0310
	Settle				1.9269
	Change				+.2031
	Open Interest				0.00
	Volume				0.00
	Last Updated				8/28/2005 19:09:54

 

 

 

[newgeezer]

I-know-this'll-make-you-giddy-with-delight ping.

[krb]

I just filled up my truck, just in case. We'll see how it goes.

[kittymyrib]

My, my...why is it that some poor smuck gets fined big-time for "price gouging" if he sells ice, plywood, or gas at the pump for more than he should after a hurricane, yet the oil companies can run up the price like this with NO penalty? Just what makes the one "price gouging" and not the other...the oil companies have bought more politicians?

[montag813]

shorted oil futures, 70.425 on a lower high, wish me luck.

[jbstrick]

For those interersted.

Here is a link to a pdf document showing all of the current oil and gass assets in the Gulf. There are over 5000 production platforms today.

http://www.gomr.mms.gov/homepg/lsesale/Visual1.pdf

It's a must see.

[gpapa]

Boy, there are a lot of big oil bashers on this thread. The performance of all the major oil companies follows. Since the area threatened by the hurricane in the Gulf produces and refines 25% of the domestic oil & gas consumed in the USA, you bet the price of oil & gas is going to be affected. Futures have been bid up to $70 on the NYME this evening. Big Oil is going to lose money from this Hurricane if it passes at CAT5 thru the Gulf. Older rigs could be snapped like toothpicks. The suggestion from some about reintroducing price controls, like the stupid attempt in Hawaii is ridiculous. Have we forgotten the long gas lines, 18% interest rates, and 13 % inflation rates of the early '70s. Releasing oil from the Strategic Petroleum Reserve will do nothing to affect the price of gasoline. The USA and its world suppliers do not have enough refining capacity to convert that oil to productive use. Get ready for $4.00+ gasoline. Do not expect a fickle Congress in Washington to help either. Their boondoggle $12.8 billion Energy Bill was a waste of time. The huge Transportation Bill of $187 billion puts the nail in the coffin. Those two combined average out to about $986 per person, children included, in the USA. We would be better off if they took that money and gave it back to taxpayers to spend on their own transportation.

Major Integrated Oil & Gas
Market Capitalization: 1,378B
Price / Earnings: 10.0
Price / Book: 3.0
Net Profit Margin (mrq): 9.0%
Price To Free Cash Flow (mrq): 44.2
Return on Equity: 27.6%
Total Debt / Equity: 0.0
Dividend Yield: 2.9%

[texson66]

Well, I for one am convinved that the arab terrorists and their followers (Soros and company) have deliberately been manipulating the oil futures market as well as rumor spreading..(the oil is all gone (they said that in the 20s too!))

I am thinking too that many investors are going with their pocketbooks to follow the oil surge (hoping they know when to jump out).

No wonder the demonrats dont want any drilling here at home or new refineries built...it gives them an issue!

[BibChr]

Me, I think that if Karl Rove were half as smart as he's supposed to be, and the GOP leaders in Congress half as good as they should be, we'd have oil exploration in Alaska cleared in short order.

Dan

[Dont_Tread_On_Me_888]

Send Africa another $15 billion--that will make everybody feel better.