gas prices, take 2 |
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gas prices, take 2 |
scotty914 |
Aug 29 2005, 02:39 PM
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#1
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suby torque rules Group: Members Posts: 1,528 Joined: 20-July 03 From: maryland, the land of 25 year Member No.: 924 |
okay with the hurrican i have been watching a lot of fox news. according to opec they will pump more oil to help. here is the crazy part opec is going to hold a meeting next month to figure out why gas prices are as high as they are, they stated the opec pumps and sells the oil at 12 per barrel.
so who ever is buying the oil at 12 per barrel is marking it up to a current price of 67 a barrel, i wonder if this is along the lines of enron, artificially marking up the oil. i have read a few things lately about oil wells, some thing like 70 % of the wells that were dry 10 to 20 years ago now have oil in them again, and but that they mean full flow pumping, not partial. right now there is a 55 billion gallon oil surpluse ( just heard it ) in storage in this country. |
tdgray |
Aug 29 2005, 03:10 PM
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#2
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Thank God Nemo is not here to see this Group: Members Posts: 9,705 Joined: 5-August 03 From: Akron, OH Member No.: 984 Region Association: None |
Come on' guys... just good old greed, nothin else.
Oil is a commodity. It is traded on various exhanges including the NYMEX, same as natural gas and heating oil. My company burns about 800,000 Dth a year in NG. That's about $400,000 to $500,000 per month at last years prices. Last year NG was about $6.00 / Dth. Today it settled at about $11.00 / Dth. Do we really think it now costs $5.00 more to drill and supply NG in one year (IMG:http://www.914world.com/bbs2/html/emoticons/dry.gif) It is F'ing BS - I F'ing kid you not, this could put my company under... completely (IMG:http://www.914world.com/bbs2/html/emoticons/mad.gif) |