OIL PRICE****

[Mackaydon]

Goldman Sachs is talking $20 ppb, Boone Pickens is talking $70 ppb by mid-2016. My money is on Goldman Sachs.
Price in my area: $2.79; these stations have, apparently, yet to receive the memo of the oil glut.
Don.....

 

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[bill from lachine]

Folks,

I had read somewhere or other recently their currently at least 3 billion barrels in reserve.....that's a lot of product to liquidate along with what's still coming out of the ground....that said as Don stated odds are good the lower range hasn't been hit yet.

Regards + HH

Bill

 

[Mackaydon]

Here's another indicator of the future price of oil (think: gas prices at the pump).
MLP Investors Fear Contagion As Kinder Morgan Slashes Its Dividend 75% - Kinder Morgan, Inc. (NYSE:KMI) | Seeking Alpha
Don...

 

[Frankn]

OK, here's my prediction for 2016. Oil will hang at around $36 BBL. The reason being, much to the dismay of BO, consumption is going up in the spring. People are getting tired of just existing. They are going to go for long driving vacations. The sale of SUV's is out stripping production at present.
My next cache location has been identified in PA. It is app. a 200 mile each way trip. It will take app. 2 trips to find the cache. It is listed in the cache section as Modern Day caches. 10 caches have been hidden around the USA and only one has been found in PA. Yea I looked for that one and missed it by about 100'. Can't win them all..
The next one is $20K in my pocket if my lucky streak is due. THE Cross ON Rock Treasure. It's nice to dream every once in a while. LOL Frank
Here's the guy who is burying the treasurers. Yea that is a .45 he carries.

 

[Frankn]

Hay, I am close so far. It closed at $35+BBL today and I filled up at BJ's for $1.899 a gal. Frank

 

[Mackaydon]

My guess is that oil in the 30s will soon be a thing of the past. Once Iran is permitted to dump their oil (already in tankers), the price will plummet until production is cut. And I don't expect that to happen to a significant degree for years; and I hold oil interests !! Early returns were a 'cash cow'; today, and for the foreseeable future, it's time to 'pay the piper'.
Don......

 

[stefen]

Humboldt County - Northwest California...Chevron in Eureka is at $2.69 while Costco is at $2.39...

 

[FreeBirdTim]

The warm weather is killing demand for heating oil. We've been in the 50's here in New England most of the month and only had a few nights where the temps went below freezing. Also, more and more people around here are using pellet and wood stoves to heat their homes. Double whammy for the greedy oil companies! Life is good right now.

 

[mlayers]

gas is $1.76 at one station and $1.99 at the other end of town

 

[stefen]

Damn, I remember when I was first driving (legally, that is) gas was $0.25 a gallon...

And $0.50 for the drive-in, a dime for a coke and a nickel for popcorn...

Always had to make up what was showing...back seat seemed to take a beating...

If gas ever drops to those prices again, I'm telling the wife to roll over, take 2 aspirins and tell me what a good time we had in the morning.

 

[Mackaydon]

Gas prices "plummeted" here last week--from $2.79 to $2.73 !!

Don........

 

[Frankn]

Stefen, Your older than I thought. I managed a spur station at the end of the 50's and I remember setting the pumps to .25/gal. and we gave away coupons for free prizes to boot. yea, those driveins were great for the exercise. Frank

 

[Frankn]

Don, I don't know about Iran. They just broke the treaty by test firing a ICBM and they are ready to fire another. The embers are glowing over there. The M's are out to kill each other and us. Sorry about that! Frank Keep an eye on the situation.

 

[Mackaydon]

As a teen in the 50s, I was a 'gas jockey' at a local Esso station. I not only pumped gas but also, washed the windows, checked oil and transmission levels, and belt wear. I would also check tire pressure (upon request). Receiving a tip for these services was not rare. All those services were expected--'back in the day'.
Don.....

 

[Mackaydon]

Frankn,
My guess is Iran (and the other major producers) will continue to keep the oil taps wide open in an attempt to bankrupt the shale fracking newbies.
Don......

 

[FC-Treasure]

My guess is that oil in the 30s will soon be a thing of the past. Once Iran is permitted to dump their oil (already in tankers), the price will plummet until production is cut. And I don't expect that to happen to a significant degree for years; and I hold oil interests !! Early returns were a 'cash cow'; today, and for the foreseeable future, it's time to 'pay the piper'.
Don......

I agree. Iran is going to cause further downward price pressure. I'm curious to see if the world is going to move away from fossil fuels now that all countries are agreeing at the Paris climate summit. I'm holding a very small position in a crappy lithium mining penny stock in hopes that electric cars will become more prevalent. Obviously fossil fuel dependency will take 20-50 years to break. I'm thinking that as the entire world warms (regardless of the cause), fossil fuel related stocks will remain toxic to investors.

 

[GA_Boy]

Regular W/10% is $1.73 here.

 

[shoague]

I am in Frederick MD and 1.90

 

[Limitool]

I'm not going to die until I see regular gas at .25 cents/p/gallon again. That's what I paid when I started to drive. Bring back the gas wars. I lied about the dying part....

 

[Mackaydon]

Another price change for California gas:


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