drpuck
Rookie Author
Dallas
Posts:49
Points:27,215
Joined:Sep 2005
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Message Posted: Sep 13, 2008 10:09:37 PM
yes, but not for long, speculators will then buy and drive it back up.
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radarman
Champion Author
Florida
Posts:9,147
Points:2,602,700
Joined:Apr 2005
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Message Posted: Sep 13, 2008 10:58:29 AM
No. Never.
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radarman
Champion Author
Florida
Posts:9,147
Points:2,602,700
Joined:Apr 2005
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Message Posted: Sep 12, 2008 9:29:17 AM
No. Never.
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blumonster
Champion Author
Milwaukee
Posts:1,243
Points:137,055
Joined:Jun 2008
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Message Posted: Sep 11, 2008 6:51:01 PM
Brent is $ 97/barrel. Gas is 4 dollars/gal here.Hurricane? Just an excuse for price gougers.
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fatso
Sophomore Author
Indianapolis
Posts:246
Points:181,365
Joined:Oct 2004
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Message Posted: Sep 11, 2008 1:19:55 PM
Yes I do think oil will go under $100.00 a barrel, but we will still have to pay $3.00 a gal. for gas. In the pass days oil was $106.00 a barrel and gas was still over $3.50 a gal.
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blumonster
Champion Author
Milwaukee
Posts:1,243
Points:137,055
Joined:Jun 2008
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Message Posted: Sep 11, 2008 12:07:30 PM
Brent is 98 dollar/barrel now.It has 30 dollar more to fall before the fall election.
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gasman14
All-Star Author
San Diego
Posts:708
Points:202,345
Joined:Aug 2008
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Message Posted: Sep 10, 2008 9:09:23 PM
Yeah
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Mento
Champion Author
Honolulu
Posts:1,869
Points:22,315
Joined:Jun 2008
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Message Posted: Sep 10, 2008 4:58:44 PM
Even if 80 bucks per barrel became the norm, out here in Hawaii we will still be overpriced than the rest of the nation. we are paying 4.25s around there. lowest still isnt below the 4 buck mark.
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Grateful11
Champion Author
North Carolina
Posts:2,142
Points:734,070
Joined:May 2005
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Message Posted: Sep 10, 2008 4:53:22 PM
Dated Brent Spot $97.63 -.90
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Santa2ya
Rookie Author
Cincinnati
Posts:16
Points:4,800
Joined:Jul 2008
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Message Posted: Sep 10, 2008 4:34:02 PM
12-18 months ago oil was in record territory, (where it is now). I am still paying $3.50 - 3.75 a gallon. Why? GREED that's why.
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majjad
Champion Author
Dallas
Posts:6,448
Points:1,428,650
Joined:Mar 2005
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Message Posted: Sep 9, 2008 11:55:41 PM
Less than $103 today and falling in after hours trading with a major storm headed for the Gulf... looks highly likely that we will be well below $100 by end of Sept.
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gasman14
All-Star Author
San Diego
Posts:708
Points:202,345
Joined:Aug 2008
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Message Posted: Sep 9, 2008 11:34:37 PM
I say within 2 weeks
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Grateful11
Champion Author
North Carolina
Posts:2,142
Points:734,070
Joined:May 2005
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Message Posted: Sep 9, 2008 6:24:05 PM
Sorry Radarman but Brent Sea oil dropped to $98.52 today.
Dated Brent Spot $98.52 down -$2.93
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farmerjack
Champion Author
Phoenix
Posts:3,682
Points:1,655,280
Joined:Nov 2004
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Message Posted: Sep 9, 2008 10:24:11 AM
possible ?
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catchme08
Champion Author
Sacramento
Posts:6,616
Points:1,385,810
Joined:Mar 2008
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Message Posted: Sep 8, 2008 10:30:42 PM
maybe
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Grateful11
Champion Author
North Carolina
Posts:2,142
Points:734,070
Joined:May 2005
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Message Posted: Sep 8, 2008 10:21:33 PM
>"Then why are the gas stations lowering their prices? Where I live regular gasoline is sold at 3.85 now. More than a dollar per gallon profit?That is too much."
You tell me and then we'll both know. Many around here are going up! You have to add in state and fed tax and hauling to the price I listed.
[Edited by: Grateful11 at 9/8/2008 10:22:50 PM EST]
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linkbusbikencar
Rookie Author
Wisconsin
Posts:14
Points:200
Joined:Sep 2008
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Message Posted: Sep 8, 2008 1:14:42 PM
Just before the election oil will drop below $100 per Barrel. They hope we will forget that gas was about $1.20 a gallon when Bush TOOK office and it is now $3.40 per gallon now.
DO NOT LOOK AT THE BUSH/CHENEY 2009 GOLDEN PARACHUTE.....
DO NOT LOOK AT THE BUSH/CHENEY 2009 GOLDEN PARACHUTE.....
DO NOT LOOK AT THE BUSH/CHENEY 2009 GOLDEN PARACHUTE.....
DO NOT LOOK AT THE BUSH/CHENEY 2009 GOLDEN PARACHUTE.....
DO NOT LOOK AT THE BUSH/CHENEY 2009 GOLDEN PARACHUTE.....
DO NOT LOOK AT THE BUSH/CHENEY 2009 GOLDEN PARACHUTE.....
DRILL BABY DRILL.....
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majjad
Champion Author
Dallas
Posts:6,448
Points:1,428,650
Joined:Mar 2005
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Message Posted: Sep 7, 2008 10:59:06 PM
We will probably get a short term spike while Hurricane Ike crossed the Gulf. After that is over, I would expect to see prices resume moving downwards toward $100/barrel. After bouncing around $100 for a week or so, prices should break below $100 and move to the $70 - $80 range by late October or early November.
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jaccks
Champion Author
Kansas
Posts:1,760
Points:2,168,515
Joined:Oct 2005
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Message Posted: Sep 7, 2008 2:49:45 PM
I wouldn't want to bet on it.
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gasman14
All-Star Author
San Diego
Posts:708
Points:202,345
Joined:Aug 2008
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Message Posted: Sep 7, 2008 12:27:22 AM
Yes yesterday it was $106
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Panama19
Champion Author
Louisville
Posts:25,278
Points:2,542,335
Joined:Sep 2005
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Message Posted: Sep 7, 2008 12:09:04 AM
Yes
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Grateful11
Champion Author
North Carolina
Posts:2,142
Points:734,070
Joined:May 2005
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Message Posted: Sep 6, 2008 10:52:04 PM
Brent is actually down to $102.80. Wholesale gas is down to $2.68
Bloomberg Energy prices
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Timewasted
Rookie Author
Cleveland
Posts:25
Points:33,690
Joined:May 2005
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Message Posted: Sep 6, 2008 2:28:12 PM
well its at 106 right now i think maybe another week and it should be just on or below 100, the avg US gas price currently does not reflect the lower Consumption and lower prices per barrel.
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majjad
Champion Author
Dallas
Posts:6,448
Points:1,428,650
Joined:Mar 2005
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Message Posted: Sep 5, 2008 12:04:19 AM
IMHO, it will be between 70 and 80 dollars a barrel before Thanksgiving.
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ozarkcommuter
Champion Author
Arkansas
Posts:2,214
Points:398,860
Joined:May 2007
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Message Posted: Sep 2, 2008 3:57:10 PM
Remember the poll results?
Do you think the price of crude oil will ever drop back below $100 per barrel?
Definitely not 21%
Probably not 33%
Maybe (50/50 chance) 20%
Probably 13%
Definitely 9%
No opinion 0%
Total votes: 34074
I think I voted no opinion. I still have no opinion
[Edited by: ozarkcommuter at 9/2/2008 3:57:49 PM EST]
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recjr
Champion Author
Illinois
Posts:2,666
Points:498,535
Joined:Jun 2008
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Message Posted: Sep 1, 2008 2:53:14 PM
no way
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bobjeep
Champion Author
Florida
Posts:9,709
Points:2,057,710
Joined:Jun 2006
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Message Posted: Sep 1, 2008 2:14:44 PM
It's on it's way now.
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catchme08
Champion Author
Sacramento
Posts:6,616
Points:1,385,810
Joined:Mar 2008
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Message Posted: Aug 29, 2008 11:12:35 AM
maybe
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rjr54
Champion Author
Winnipeg
Posts:1,110
Points:394,395
Joined:Feb 2005
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Message Posted: Aug 27, 2008 10:12:42 PM
And back up it goes . . .
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vgahuja
Veteran Author
Toronto
Posts:348
Points:873,840
Joined:Jan 2008
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Message Posted: Aug 26, 2008 3:31:18 PM
No. Never.
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julieofhb
Rookie Author
Orange County
Posts:8
Points:10,595
Joined:Aug 2008
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Message Posted: Aug 23, 2008 2:34:54 AM
If it does drop below $100, I doubt it will stay there long before rising again (probably to a new all time high.)
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blumonster
Champion Author
Milwaukee
Posts:1,243
Points:137,055
Joined:Jun 2008
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Message Posted: Aug 22, 2008 2:58:31 PM
OPEC will not lower production as long as oil stays above 70 dollars a barrel.
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Dorkchop
Champion Author
Maryland
Posts:11,392
Points:1,795,565
Joined:Dec 2006
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Message Posted: Aug 21, 2008 2:39:20 PM
Yes it will very shortly. But then OPEC will cut production and prices will stabilize and then start to rebound near the holidays.
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jb47
Champion Author
Shreveport
Posts:9,159
Points:1,873,950
Joined:Aug 2007
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Message Posted: Aug 21, 2008 11:39:14 AM
definitely not
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nrg2004
Champion Author
Austin
Posts:2,345
Points:703,205
Joined:Mar 2004
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Message Posted: Aug 21, 2008 10:48:23 AM
maybe, but not for long then back up
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sondy46MI
Rookie Author
Wisconsin
Posts:86
Points:17,985
Joined:Jul 2008
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Message Posted: Aug 21, 2008 9:08:48 AM
no NEVER
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CandyNBob
Rookie Author
Washington
Posts:29
Points:2,240
Joined:Aug 2008
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Message Posted: Aug 20, 2008 8:57:46 PM
I wish!
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majjad
Champion Author
Dallas
Posts:6,448
Points:1,428,650
Joined:Mar 2005
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Message Posted: Aug 18, 2008 10:49:25 PM
Ladies and Gentlemen,
Hurricane in Gulf of Mexico --> price of oil DROPS (Nymex Crude Future 112.12 -0.75 -0.66 22:08) = BEAR MARKET in oil. Perhaps we should ask our "friends" in Iran if they like an olive in their crude oil martini!
I am still looking for oil prices between $70 and $80 a barrel by Thanksgiving...
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blumonster
Champion Author
Milwaukee
Posts:1,243
Points:137,055
Joined:Jun 2008
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Message Posted: Aug 18, 2008 4:13:22 PM
I hope we get to see 2.50/gallon soon. And for a long time hopefully. It is not a big deal if it drops to 2.50 and goes right back up to 4. It would be great if it stabilizes around 3 for a few years. (2.50-3.50 levels)
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MnSwede
Champion Author
Twin Cities
Posts:5,063
Points:824,325
Joined:Oct 2005
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Message Posted: Aug 16, 2008 8:22:49 PM
Probably not
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dental man
Champion Author
San Diego
Posts:14,839
Points:3,187,030
Joined:Mar 2003
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Message Posted: Aug 16, 2008 7:11:11 PM
probably
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gasman14
All-Star Author
San Diego
Posts:708
Points:202,345
Joined:Aug 2008
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Message Posted: Aug 16, 2008 6:44:01 PM
Yes but it will be a while before we see something like that
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Grateful11
Champion Author
North Carolina
Posts:2,142
Points:734,070
Joined:May 2005
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Message Posted: Aug 16, 2008 6:14:19 PM
>"radarman must own some bigoil shares. If I had I would never want the oil prices to go fall ever, why would I?!? "
He's only doing it for the points because I don't think he has a crystal ball.
Never say never!
BTW: I heard $2.50 also a few days ago.
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azureroses
Rookie Author
Georgia
Posts:18
Points:14,295
Joined:Jun 2008
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Message Posted: Aug 16, 2008 4:42:02 PM
I hear the laughs already but I see us paying $2.49 (reg) per gal by the first of the year.
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blumonster
Champion Author
Milwaukee
Posts:1,243
Points:137,055
Joined:Jun 2008
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Message Posted: Aug 16, 2008 8:36:59 AM
radarman must own some bigoil shares. If I had I would never want the oil prices to go fall ever, why would I?!?
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gasguy555
Champion Author
Gary
Posts:1,104
Points:229,765
Joined:Jul 2008
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Message Posted: Aug 16, 2008 12:24:37 AM
No, only because OPEC and the oil companies won't let it.
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majjad
Champion Author
Dallas
Posts:6,448
Points:1,428,650
Joined:Mar 2005
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Message Posted: Aug 16, 2008 12:18:44 AM
the opinions expressed in this forum are evidence that oil is now in a BEAR market, one that will almost certainly take it significantly below $100/barrel... the evidence is that very few believe that it is going to happen!!!
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bobjeep
Champion Author
Florida
Posts:9,709
Points:2,057,710
Joined:Jun 2006
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Message Posted: Aug 15, 2008 2:34:39 PM
yes, it's on it's way now.
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blumonster
Champion Author
Milwaukee
Posts:1,243
Points:137,055
Joined:Jun 2008
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Message Posted: Aug 15, 2008 2:03:26 PM
Never say never. Maybe you said 'no, never' 6-7 years ago to 145 dollar a barrel too. But it became a reality.
It is 110 dollar a barrel now and falling!
I will be here when the oil price per barrel plummets to 60 dollars level around November.
See you then...
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majjad
Champion Author
Dallas
Posts:6,448
Points:1,428,650
Joined:Mar 2005
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Message Posted: Aug 15, 2008 1:02:34 AM
First, IMHO, oil will be well below $100/barrel (no pun intended) before Thanksgiving.
Second, here is a sentence from the Wikipedia article on the Bakken Formation giving some estimates on the probable extractable reserves there: "In April 2008 the USGS released this report, which estimated the amount of technically recoverable, undiscovered oil in the Bakken Formation at 3.0 to 4.3 billion barrels, with a mean of 3.65 billion. Later that month, the state of North Dakota's report estimated that of the 167 billion barrels of oil in-place in the North Dakota portion of the Bakken, 2.1 billion barrels were technically recoverable with current technology." Obviously, a massive reservoir of oil. Now, if we can just get it out of the ground...
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rschnoor
Champion Author
Albany
Posts:1,138
Points:251,230
Joined:Jul 2008
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Message Posted: Aug 12, 2008 10:36:27 AM
maybe
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catchme08
Champion Author
Sacramento
Posts:6,616
Points:1,385,810
Joined:Mar 2008
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Message Posted: Aug 11, 2008 10:02:42 PM
probably not
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