jdwfloyd
Posts: 799
Joined: Sun Feb 06, 2005 10:29 am

What Is This $30 A Barrel Gas Rumor?

Sun Apr 10, 2005 3:17 am

I have heard from a few different people that gas may be back down to 30 bucks a barrel by the end of the summer driving season, why?
 
greasespot
Posts: 2956
Joined: Sat Apr 24, 2004 10:48 am

RE: What Is This $30 A Barrel Gas Rumor?

Sun Apr 10, 2005 3:19 am

wishful thinking

GS
Sometimes all you can do is look them in the eye and ask " how much did your mom drink when she was pregnant with you?"
 
jutes85
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RE: What Is This $30 A Barrel Gas Rumor?

Sun Apr 10, 2005 3:26 am

Quoting Jdwfloyd (Thread starter):
I have heard from a few different people that gas may be back down to 30 bucks a barrel by the end of the summer driving season, why?

To improve SUV sales obviously.  stirthepot 
nothing
 
DLKAPA
Posts: 7962
Joined: Wed Dec 03, 2003 10:37 am

RE: What Is This $30 A Barrel Gas Rumor?

Sun Apr 10, 2005 3:44 am

My ass. Here the gas prices are around $2.34 for Regular Unleaded.
And all at once the crowd begins to sing: Sometimes the hardest thing and the right thing are the same
 
Airlinerfreak
Posts: 1246
Joined: Tue Jan 18, 2005 4:16 am

RE: What Is This $30 A Barrel Gas Rumor?

Sun Apr 10, 2005 3:49 am

Why, simply because the demand isn't there, when the demand for the gas, is there they raise the prices. It is simply supply and demand.
 
jpetekyxmd80
Posts: 4015
Joined: Fri Aug 01, 2003 3:16 am

RE: What Is This $30 A Barrel Gas Rumor?

Sun Apr 10, 2005 3:52 am

Quoting Airlinerfreak (Reply 4):
Why, simply because the demand isn't there, when the demand for the gas, is there they raise the prices. It is simply supply and demand.

There is more demand for gasoline in the world than at any other time in history.
The Best Care in the Air, 1984-2009
 
Airlinerfreak
Posts: 1246
Joined: Tue Jan 18, 2005 4:16 am

RE: What Is This $30 A Barrel Gas Rumor?

Sun Apr 10, 2005 3:54 am

Yes but don't forget this is the beginning of when people start to take car trips in mass numbers, because we re beginning to go into the season called Summer. After Summer or Labor Day weekend the prices drop. It simply goes in cycles.
 
jpetekyxmd80
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Joined: Fri Aug 01, 2003 3:16 am

RE: What Is This $30 A Barrel Gas Rumor?

Sun Apr 10, 2005 3:59 am

True, summer prices do fluxuate based on these terms. However I think there is more to it this year, having the highest average gas prices weve ever had, there is more going on than just the season.
The Best Care in the Air, 1984-2009
 
Airlinerfreak
Posts: 1246
Joined: Tue Jan 18, 2005 4:16 am

RE: What Is This $30 A Barrel Gas Rumor?

Sun Apr 10, 2005 4:00 am

Haliburton's numbers were too low last year, theres your answer to why it is so high this year.
 
theCoz
Posts: 3933
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RE: What Is This $30 A Barrel Gas Rumor?

Sun Apr 10, 2005 4:23 am

Maybe they're making smaller barrels?
 
copaair737
Posts: 3571
Joined: Sat Aug 30, 2003 5:00 am

RE: What Is This $30 A Barrel Gas Rumor?

Sun Apr 10, 2005 7:40 am

Up here in Eureka, CA, gas prices have now topped 3 dollars a gallon. Things are just getting ridiculous. Sooner or later, I suppose the bubble will break, but I don't see how they could get much higher. 3 dollars a gallon! I remember when I didn't think I would ever see it top 2 dollars.

-Copa
Livin' on Reds, Vitamin C, and Cocaine
 
Airlinerfreak
Posts: 1246
Joined: Tue Jan 18, 2005 4:16 am

RE: What Is This $30 A Barrel Gas Rumor?

Sun Apr 10, 2005 7:50 am

I know exactly what you mean Mike. We are dealing with the same thing down here south of you in Southern California. It is a never ending plague it seems like.
 
aa777flyer
Posts: 1017
Joined: Fri Feb 09, 2001 8:45 am

RE: What Is This $30 A Barrel Gas Rumor?

Sun Apr 10, 2005 9:25 am

I wont say never, but I HIGHLY doubt we will ever see $30 a barrel again. We wont even likely see the low $40's. Goldman Sachs is actually predicting oil will spike to $105 a barrel by this time next year. I dont really believe that. I personally think we will stay in the $50-60 range for some time, about the next 5-6 years or so. Then it will move its way up. This is just like when gas went above $1.00 a gallon, no one could believe it, same thing with $2.00 a gallon gas, we will simply have to get use to it.
One thing would help would be if Americas love affair with the gas guzzleing SUV would die, and people would buy more sensible cars it would help keep things somewhat level and not subject to such rapid price increases.

Then again if we kick this Jackass Bush out of the Whitehouse and end his ties with his buddies at Haliburton and the Saudi Arabia it probably would not hurt either.
The TSA was created to make the post office look efficient!
 
Falcon84
Posts: 13775
Joined: Fri Sep 10, 2004 11:52 am

RE: What Is This $30 A Barrel Gas Rumor?

Sun Apr 10, 2005 9:29 am

I think it was Morgan Stanley who said they thought gas prices would spike around $105 a barrel within a year, so $30 would be a godsend!

Seriously, if that happened, I and every employee in the airline business would be delirous with happiness, trust me.  Smile
Work Right, Fly Hard
 
AsstChiefMark
Posts: 10465
Joined: Thu Feb 05, 2004 2:14 pm

RE: What Is This $30 A Barrel Gas Rumor?

Sun Apr 10, 2005 12:22 pm

Gas is sold by the barrel? I thought it was sold by the cubic foot. Crude oil is sold by the barrel. If gasoline is $30 a barrel, then a gallon would cost 71.43¢ .

I doubt that will ever happen again!

Mark
Red tail...Red tail...Red tail...Red tail...Red tail...Red tail...Red tail...Red tail...Damned MSP...Red tail...Red tail
 
aa777flyer
Posts: 1017
Joined: Fri Feb 09, 2001 8:45 am

RE: What Is This $30 A Barrel Gas Rumor?

Sun Apr 10, 2005 12:22 pm

Quoting Falcon84 (Reply 13):
I think it was Morgan Stanley who said they thought gas prices would spike around $105 a barrel within a year, so $30 would be a godsend!

Seriously, if that happened, I and every employee in the airline business would be delirous with happiness, trust me.

It would instantly and dramatically change the playing field. It would quicky pull UA, US out of CH11. AA/DL/CO/NW would be making money. While WN would still have a pricing advantage at it $26 per barrel hegde their HUGE price advantage in this area would be much smaller.

HOWEVER, I think your chances of winning the lotto are greater than seeing $30 prices again.
The TSA was created to make the post office look efficient!
 
N1120A
Posts: 26468
Joined: Sun Dec 14, 2003 5:40 pm

RE: What Is This $30 A Barrel Gas Rumor?

Sun Apr 10, 2005 12:55 pm

Quoting Airlinerfreak (Reply 11):
I know exactly what you mean Mike. We are dealing with the same thing down here south of you in Southern California. It is a never ending plague it seems like.

You can't drive, so how does it make a difference?

Honestly, current oil prices are where they are for two major reasons. One is the refusal of the Bush Administration to release (and stop filling) the Strategic Oil Reserve like Clinton did the last time gas was going over $2 per gallon. The threat, and temporary release at that time brought oil prices back in check. The second problem is oil speculation which has run rough shod over our economy and showered oil companies in cash, hence the new round of consolidation led by Chevron-Texaco's take over of Unocal.
Mangeons les French fries, mais surtout pratiquons avec fierte le French kiss
 
FDXmech
Posts: 3219
Joined: Sun Mar 19, 2000 9:48 pm

RE: What Is This $30 A Barrel Gas Rumor?

Sun Apr 10, 2005 1:28 pm

I've seen it all before, several times.

High prices beget low prices. Low prices beget high prices.
You're only as good as your last departure.
 
Airlinerfreak
Posts: 1246
Joined: Tue Jan 18, 2005 4:16 am

RE: What Is This $30 A Barrel Gas Rumor?

Sun Apr 10, 2005 3:28 pm

Quoting N1120A (Reply 16):
You can't drive, so how does it make a difference?

Very true, but I dont see your point. My parents still have to pay the hefty prices. Also, I am allowed to be involve in the problems this world is facing. Also we still need to fill those reserves in case another Terrorist attack happens or something catostrophic happens. It is better to be safe than sorry.

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