8.1 Van
Millstone NJ
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Crude oil prices on Monday spiked more than $25 a barrel – a record one-day dollar increase – in trading ahead of the expiry of the benchmark futures contract and amid concerns that the US dollar would weaken.
The jump in oil prices to an intraday high of $130 a barrel was exacerbated by a squeeze on short positions ahead of the expiry at the close of the Nymex October futures. This forced some financial investors to cover their short positions positions to avoid taking delivery of physical barrels of oil.
Record-breaking leap in oil prices
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MikeSmith
Republic of Texas
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Joined: 07/17/2004
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The refineries went through a shut-down and are re-starting. That disrupted the flow of gasoline, causing a short-fall in demand. Due to our ridiculous restrictions against building new refineries, we will see gas spikes anytime something happens to disrupt our current refineries. We need more refining capacity. PERIOD!
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8.1 Van
Millstone NJ
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MikeSmith wrote:
The refineries went through a shut-down and are re-starting. That disrupted the flow of gasoline, causing a short-fall in demand. Due to our ridiculous restrictions against building new refineries, we will see gas spikes anytime something happens to disrupt our current refineries. We need more refining capacity. PERIOD!
Exxon and others make their maximum profit in a tight supply market so why would they want that to stop ?
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MikeSmith
Republic of Texas
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8.1 Van wrote:MikeSmith wrote:
The refineries went through a shut-down and are re-starting. That disrupted the flow of gasoline, causing a short-fall in demand. Due to our ridiculous restrictions against building new refineries, we will see gas spikes anytime something happens to disrupt our current refineries. We need more refining capacity. PERIOD!
Exxon and others make their maximum profit in a tight supply market so why would they want that to stop ?
Free Clue: Exxon is not the only company that would build refineries. There are quite a few companies that can finance new refineries, so they can get a piece of the action {AKA competition}. They cannot, due to the massive restrictions imposed on them by our government and courts.
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Doug4.7
Hartselle, AL, USA
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Joined: 10/02/2003
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cdc wrote:Most are leveraged and about to lose your know what unless govt intervenes. That's all we need now for the government to bail out the oil speculators....
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glock35ipsc
Colorado
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Frankjake wrote:Doug, 33 mpg in a Prius is terrible.
Except she did not buy a Prius:
Quote:It's a Toyota Camry, and Walker paid extra to get the hybrid version. She figured she'd come out ahead by using less gas. At first, she was getting up to 40 miles per gallon. Now, she gets nothing but bad news from her instrument panel.
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8.1 Van
Millstone NJ
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MikeSmith wrote:8.1 Van wrote:MikeSmith wrote:
The refineries went through a shut-down and are re-starting. That disrupted the flow of gasoline, causing a short-fall in demand. Due to our ridiculous restrictions against building new refineries, we will see gas spikes anytime something happens to disrupt our current refineries. We need more refining capacity. PERIOD!
Exxon and others make their maximum profit in a tight supply market so why would they want that to stop ?
Free Clue: Exxon is not the only company that would build refineries. There are quite a few companies that can finance new refineries, so they can get a piece of the action {AKA competition}. They cannot, due to the massive restrictions imposed on them by our government and courts.
Did you even read my question ? Why would the oil companies want to stop making record profits ? They are in business to make the maximum amount of money and not to give you cheap gas.
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Sir Buffalo
Long Island, NY
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Nascarcruzin wrote:Just heard on Fox News, anyone that feels like your area stations are price gouging, you can report them by going to the Dept on Energy price watch hotline. Do not know if this website has been posted or not. Ronnie
I would have to report everybody....
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new-to-rving
Norwich, CT
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 here in conn. got fuel oil for the house last week, almost $4.00 a gallon, $486.00 for 150 gallon, gave me about half tank, i'm gonna hate winter this year!!!
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younchem
Lafayette, LA
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How long do you think the 150 gallons will last? I know it is dependent on weather. I do not have an idea of the costs for heating oil for a home.
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