Oil nearly falls below $80 on oversupply

jaytrem · Oct 21, 2014

Quietman said:
It's heavy, but you won't break the steel handle easily!

Steel Handled Splitter

I've been using the opposite lately...

http://www2.fiskars.com/Gardening-a...and-Striking-Tools/X27-Super-Splitting-Axe-36

Took a bit of getting used to, but I'm hooked. I guess part of the theory is you can swing a lighter one for a longer time. I do a good 10-12 cords a year, 99% with the lighter splitter at this point. We run our wood insert 24/7 in the winter, I'd say 80-90% of our heat comes from it. I get the wood for free at our town's "conservation center". There's usually lots of nice stuff there until they bring in a giant grinder truck. Lots of town's have similar places, so anybody looking for free wood should look into that. Also, if you see a tree getting cut down in your neighborhood there's a good chance the tree company would be thrilled if you would take if off their hands (at least in NJ), some will even cut to the proper lenghts. The big negative is you might have some giant logs sitting on your front lawn until you chop it all up.

Abubob · Oct 21, 2014

This is just a set up. The last time prices dropped like this they just bounced right back. The gasoline price for regular was about $2.00/gal give or take in 2008 but not too long after it was at $4 per. So when it comes back up this time we'll be looking at $6 per. That's just my cynical opinion.

from_the_NEK · Oct 21, 2014

And I have one of these, 8# fiberglass handle maul, that I use to split 1-2 cords a year (the other 2-3 cords I use a hydraulic splitter).

BenedictGomez · Oct 21, 2014

Mariovntr said:
At that point in time, speculation drove fuel at the pump costs up by 83 cents per gallon. Since 2011, speculations impact to price at the pump has eased by approximately 50% hugely in part to that report and higher consumer awareness of costs / speculations impact.

I'm not sure what you're trying to say here, but this makes no sense.

from_the_NEK said:
Then why does it seem like gas prices immediately go up as soon as oil prices go up?

You're misunderstanding what was asked. Gas prices will of course tend to move with oil prices, but that's not what he asked. He said, if Oil is X per barrel, how much will gas cost at the pump?

Mariovntr · Oct 21, 2014

BenedictGomez said:
I'm not sure what you're trying to say here, but this makes no sense.

You're misunderstanding what was asked. Gas prices will of course tend to move with oil prices, but that's not what he asked.

Not trying to be a smart a**, but it makes perfect sense if you take the time to read it. You can look the study up online as well. Bloomberg even published it.

BenedictGomez · Oct 21, 2014

Mariovntr said:
Not trying to be a smart a**, but it makes perfect sense if you take the time to read it. You can look the study up online as well. Bloomberg even published it.

Then just explain it to me, because as written it doeskin make sense.

Regardless, the belief that there is some evil force driving up the price of oil is largely a political belief, and not well-grounded in economic theory. When you tend to find "papers" you speak of, whether "published in Bloomberg" or not, that claim speculators are somehow making "evil profits" on speculation, they're typically rather political. Much of it comes from the comments of Exxon's CEO a few years ago, but that doesn't make it true even if he genuinely believes it. Warren Buffet said something incredibly stupid about the US housing market last week too, but at the end of the day, I'll go with what we do know from years of studies and market theory, over what "some guy thinks", even if that guy is a CEO of a major oil company.

Rowsdower · Oct 21, 2014

We always used wooden handles. I don't like the fiberglass. I've had them splinter on me before.

My folks got a log splitter a couple years ago. I come home over the summer and we fill the barn in about a month or two. That's with about 10-12 cords. We can pretty much roll anything to the splitter. Since it swings to an upright position you can just roll a log and set it up underneath. Our set up is to bring the trees down the previous fall, cut them into ~18 inch logs, and stack them up to keep the wood off the ground. We come back during the summer with the splitter which we haul in with a 1949 Farmall cub. Split everything on site, then load it up into a large trailer we haul back to the barn with the tractor. When one tree is done we move the splitter to the next.

I used to have a system where we split lighter, less dense wood (poplar, sasafras, and maple) at the beginning and end. This left the denser hardwoods like oak and birch for the middle. That way we stacked light first, then dense, then lighter again so when you brought wood in you burned through your lighter stock during the warmer months, and your denser stuff for the coldest months. Now my dad just throws it in together.

Oh well.

MEtoVTSkier · Oct 22, 2014

from_the_NEK said:
I just bought 200 gallons at $2.20/gal vs $3.05 if I would have pre-bought 2 months ago. Pre-buy was $3.70 in June when my wife started trying to get me to get it done.

Win = me!
220 gallons =
$440 at $2.20
$610 at $3.05
$740 at $3.70

We use about 650 gallons a year =
$1430 at $2.20
$1982.50 at $3.05
$2405 at $3.70

$2.209 ?? Holy Crap that's a great price for oil. Must be a small local oil guy?

from_the_NEK · Oct 22, 2014

MEtoVTSkier said:
$2.209 ?? Holy Crap that's a great price for oil. Must be a small local oil guy?

Well I must have heard the guy wrong, even though I had him repeat it. This morning I ended up paying $3.31/gal for the oil that was delivered yesterday. :???:
I guess it was too good to be true. :sadwalk:

The $2.20 stuff must have been the fuel that was an ethanol blend and subsidized :flame:.

MEtoVTSkier · Oct 22, 2014

from_the_NEK said:
Well I must have heard the guy wrong, even though I had him repeat it. This morning I ended up paying $3.31/gal for the oil that was delivered yesterday. :???:
I guess it was too good to be true.

The $2.20 stuff must have been the fuel that was an ethanol blend and subsidized :flame:.

Yeah, I was wondering if I need to go VT with an empty tanker! I paid $3.339 on Sept 25 for mine... and the GF just paid $3.099 for hers this morning. That's pretty good pricing for up here in the 'County. But thanks for making us go check! Should be even cheaper the morning of Election Day! Think I'll get the other tank topped then.

steamboat1 · Oct 22, 2014

You're both lucky, paid $3.799 my last fill up 9/25. That's the same price I was paying at the beginning of last season. It went up to $4.299 by the end of last season. We use between 500-600 gallons a season. Last year was on the high end of that. Haven't needed to turn on the heat yet this year.

HowieT2 · Oct 27, 2014

Broke the $80/barrel line this morning. How low will it go?

Edd · Oct 27, 2014

I'm loving it. Paid $3.02/gallon the other day for gasoline.

Not Sure · Oct 27, 2014

Edd said:
I'm loving it. Paid $3.02/gallon the other day for gasoline.

Just heard $2.77 in Jersey...

Overall barometer of economy? Hope not. Hoping more natural gas demand shift

deadheadskier · Oct 27, 2014

Figures it's gotten so cheap now that I no longer have to pay for gas for my car.

machski · Oct 27, 2014

Regular is down to below $3/gal in spots in NH (Epping was $2.97 last Friday!) Just wish Diesel would fall with gas as the wife and I switch to VW TDI's but not too likely with heating season kicking in. t least it is still close to Premium which is what I'd need to put in a GTI if I had gone that route.

VTKilarney · Oct 27, 2014

I want to see heating oil drop more.

Puck it · Oct 27, 2014

$3.05 in Beverly this morning.

VTKilarney · Oct 27, 2014

Puck it said:
$3.05 in Beverly this morning.

We are about 25 or 30 cents more than that.

bobbutts · Oct 27, 2014

BenedictGomez said:
Typical NVA, intellectual comment from this poster.

I'm jealous because you understand politics and energy so well.

Oil nearly falls below $80 on oversupply

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