Gasoline @ $2/gallon by Thanksgiving--USA Today.

[coolio]

Time to get out of the oils and refiners?

http://www.usatoday.com/money/industries/energy/2006-08-29-gas-price-usat_x.htm

A personal note: I'm a little peeved that a disruption like the prudhoe bay pipeline screwup causes prices to go up .25 overnight yet when there's too much supply it takes months for prices to go down.

[BillZBub]

With all the surplus, I wouldn't be suprised if it goes down to $50 a barrel. I am looking into how a price drop will affect the biodesiel companies, like AMHD (one of my fav's). It could make it very tough to start producing at a time when it is difficult to make a profit.

PS: First post but long time lurker. Looking forward to contributing and learning.

[Lou]

is it possible to fill up barrels of gasoline, store them in my garage and then sell them to the public next summer????

only in america

[deerhunter]

Too many variables to look at....

-Iran cuts of supply
-Refinery explosions
-Hurricanes
-Terrorist attacks
-MANY MORE

[Justmakinmoney]

Its all just a conspiracy. Depends on which side of the bed the major CEO's wake up on. "Break" a pipe here and cause a shortage or they say production was much better than predicted. Either way they are going to set the price to whatever they want. My theory is that when the prices go up for a week they make so much profit that they show mercy and lower the prices for a few days so we will forget about it. And they just continue that cycle and have us grabbing our ankles.

[Justmakinmoney]

But that is just how I feel. :lol:

[Svenwulf]

seems like ive heard this before- something about gasoline peaking between july and labor day. ok, enough, i might hurt my elbow. but when i see the usa today bearish, and the quieter things stay with iran or chavez, the less i trust 50/oil. good luck!

[zyzzyva57]

If the hurricane peters out and there is still a nice supply of oil after labor day, do not be surprised if the Nigerian rebels conveniently justify the traders going into a feeding mode after a August rest at the Hamptons. The traders ain't about to let oil slide much more. Darn those pesky, but oh, so convenient Nigerian rebels! The ancient Greeks would call em Deus Ex Machina. Sociopathic Wall Street calls em BOOOOOOOOOOYAH!!

[optimus25]

We gotta thank the bearishness in oil for the recent rally. Cheaper energy costs will reduce the likelihood that the economy is in for a hard landing. I don't know if the China story is getting old but I think the majority of demand will be coming from countries like China and India where they are scratching the surface of their transportation infrastructure. I think as the middle class grows we'll see an increase in demand for oil as more people in china and india start buying cars.

[optimus25]

BTW $2 gas is a welcome relief from $3.50 gas.

[zyzzyva57]

OPEC meets this month and it will not appreciate an oil surplus
We still have 2 months of the hurricane season
There is winter looming
When all this fails, there is always those pesky Nigerian rebels that will mysteriously decide to get fresky at key times

[eddygil]

Is The Elections Stupid

[TonyM]

I agree; the consumption of gas at $3 a gallon has shown opec that $70 a barrel is sustainable. I've noticed with amusement how every time crude light drops below $70 it's back above by the next day. Sept 7th is likely to be a volatile day in the energy sector no matter what the outcome of the UN sanctions meeting is...stay tuned.