Brandon Boomhauer

iTrader: (10)

hrmmm
your *** was stickered??? dont really want to know.


anyways, I have a feeling it will continue to go up, and another thought that we'll be getting into it with iran before too long with what I keep reading on the news sites during the day. Doesn't look too pretty, but its keeping that right foot of mine very, very light on the pedal.

Bad Habit Bird

iTrader: (12)

I'm trying really hard not to pay attention to the news regarding this issue. The more I read about it the more pissed off I get.

lo_jack

iTrader: (27)

I forgot to mention that several refiners have brought some facilities down for maintainance ahead of the summer season, as is typical.

SJRTX

iTrader: (1)

No, you got that backwards. The President of Iran stated, we are not paying nearly enough for oil...Not surprising coming from Iran. Im sure those 54,000 centrifuges they are ordering to enrich more uranium (to build bombs with) is going to be expensive.

Anyways-heres the story:




TEHRAN, Iran -- Iran's president says despite surging prices, oil hasn't hit "its real value yet."

Mahmoud Ahmadinejad says the products made from crude "are sold at prices dozens of times higher than those" paid to oil producers. State-run Tehran radio reports the president says developed countries get the biggest benefit from high oil prices.

Oil futures today are hovering near $71 a barrel, with traders worried about rising tension between Iran and other countries over its nuclear program.

© 2006

The Associated Press

Nevermind they werent bitching 6 years ago when the cost of oil was like $20 per barrel.

MrBill97396

iTrader: (10)

I think I was meaning to say that we as citizens are paying a hiked up price, while companies are paying a much lower price for it.

Nwmembr19

iTrader: (21)

Methyl Tertiary Butyl Ether(MTBE) has been used in gasoline for a while because it is oxygenated to help form a cleaner combustion, and raises the octane rating. The problem is a few plants in California have underground storage tanks that are old and leak the stuff into the ground. Unlike gasoline Mtbe will mix with water making it nasty, it is not a known carcinogen but from what my instructor says it just makes the water smell and taste bad. Anyways a couple of states like California are banning it from their gasoline and now the government says they wont protect the refineries from lawsuits anymore so they are forced to use something else. Ethanol is the replacement but it doesnt do as good a job as mtbe and there is not enough to blend with gasoline yet. So the shortage is causing the price to go up. It's funny i saw this because my operation instructor, a chemical engineer in charge of gasoline blends for equistar, was talking about it in class today. Anyways the other two guys already hit the nail on the head.

kornfreak_401

iTrader: (77)

there will never be ANY shortages. it's political and industrial influence that make **** up to scare people. if there were shortages why is everybody posting record high profits?

U LUZ

viva la bushy

Bad Habit Bird

iTrader: (12)

On the news this morning I think I heard something about Exxon having a 35% increase in profits for the first 1/4 alone. Unfortunately there is nothing we can do about it

Even more trouble

lo_jack

iTrader: (27)

Do you read a lot of Tom Clancy or something?
Did you miss econ in high school?

We the consumers of America use as much gasoline as the companies in the US can make/sell. Actually more, that's one of the reasons the price is rising. Of course they are making record profits. We keep buying their product...and would buy more if they could make more fast enough. Demand doesn't slack off (we keep driving), and we only have less supply, near term and long term. That yeilds higher prices and higher profits for producers.

Recommendation: re-evaluate your sensationalistic conspiracy conjecture, or move to Russia.

Do about what? Capitalism? Buy some Exxon stock and enjoy free society. It trades as XOM.

MrBill97396

iTrader: (10)

Bad Habit Bird

iTrader: (12)

Already looking into it

xfactor_pitbulls

iTrader: (16)

Always something, ****............ They regulate our tv, radio, food, taxes, roads, alcohol and everthings else, but cant figure out how to regulate a fuel that has been around for 80 years. Jeeezuskrist. Talk about one thing that dramatically effects our economy.

Brandon

xfactor_pitbulls

iTrader: (16)

But the government busts microsoft for monopolizing............. Eeeeeew, I am hot right now.

Brandon

02ss98C5

iTrader: (1)

The democrats are bitching about high gas prices now, but they are the dumb asses that won't let people drill in Colorado or California or off of Florida where there is more oil than in the middle East.

slayer_taunu

iTrader: (3)

ya know, this has been something that i've been pondering for a couple years now, but i've just been intimidated from getting into investing just cuz i know so little about how it works. perhaps its time to get educated.

01WS6/tamu

iTrader: (37)

Well you could always do what I did just go to work for Exxon then you at least get some of the money you spend back.

red90cobra

iTrader: (36)

dude it's easy for people to say buy some exxon stock unless you have a large sum of change to buy some of that stock you won't make much today closed at 65 bucks a share. if you would of bought it beginning of march of 59 bucks your would of made 6 bucks a share. You would of needed to have 5900 for a 100 shares and today you would of made 600 bucks minus the fees if you sold tomarrow. not a bad deal but you just got to get it there and hope something bad doesn't happen. to me that really doesn't pay off the extra gas might help but not much. i'd just pay and quit complaining. also if we stopped driving less would the gas prices go down I doubt it they would just shut down some plants to keep the demand up.

lo_jack

iTrader: (27)

Ok true, 65 a share is not really an intro to investing. It is much harder from them to make a dollar a share increase than something like a small independant with a 500m market cap, or less. Lower overhead, easier to replace reserves. Example: 2 or so years ago ATP Oil and Gas was trading at $6 a share. Flash forward to now: they may break 50 soon.

I was simply saying work the market to your advantage, if you cannot win as a consumer. There are plenty of independents to invest in, even with most of the larger independents and majors trading at or near 52 week highs (not so good of a buy for short term growth). At this point I would say who has access to rigs and a lease and start from there.

DesertFox

iTrader: (2)

I think that we will probably be opening up previously closed off section for drilling, and I think that these new areas will probably be heavily regulated to preserve what we can of those areas. Also, Russia has the largest supply of oil in the world, what do you think is under Siberia. The middle east is raking it in b/c there oil supply has an infrastructure to export it. Although almost all the exploring in Russia is being done or funded in large part by American companies (yea!!). Eventually we will develop Russia's ability to produce oil, keep them out of OPEC and **** the middle east.

If you want to play the market for oil I would look at companies that provide oil services to oil companies. Where do you think they spend all these record setting profits, and a hint its not in dividends.

Thats my take.

Josh