gas prices this summer yikes

[ski_resort_observer]

The monthly oil/gas inventories were just announced and it does not look good. Supply is tighter than expected. This can change but commodity(crude oil, unleaded gas) futures options which play a key role on prices at the pump is already into June. Refinery output is lower than expected and the CEO of Conoco-Philips just said in an interview that he is not sure if gas supply this summer will be able to meet demand.

It never ceases to amaze me how easy it is for folks to blame the oil companies with their amazing profits. The real culprit is us, we continnue to suck up the gas/oil like there is no tomorrow. Our increasing and inefficient usuage results in the oil companies profit. On the positive we are working on alternative energy(ethanol, electric cars) and (wind and solar) to replace oil source home heating. Also on the positive side our economy cannot handle gas prices at the pump much over $3 a gallon, although folks in California would disagree, so when the national average gets around $3 action is taken to increase supply. OPEC doesn't want demand to decrease which happens when the price gets high so they too are sensitive to high prices and will increase output, as they did last summer,

Buy your Moped now before the price goes up more.

 

[Warp Daddy]

C'mon now ---- the Oil companies as altruistic good guys --give me a break !!

The Oil lobby , the companies and their greed hog CEO's and their no so hidden political allies show no allegiance to any nation or people . Its simply about sucking our pockets dry bcuz they can .

I have been energy conscious and driven small efficient vehicles and done numerous modifications to my property for over 35 years and see these SOB's as OPPORTUNISTS of the worst ilk.

As a matter of fact i'd like to see them nationalized --Where the Hell is is Give em Hell Harry Truman when we need him ?

 

[JimG.]

The topic made me cringe.

Please keep this discussion non-political.

The first hint of politics (close already) will lead to a lock.

 

[andyzee]

I'm all set for the raise. I purchased a bunch of Valero stock in October and December for about $52-$53 a share and just sold it at $65 a share. Profit is enough to offset any raise in prices

 

[roark]

I'm all set for the raise. I purchased a bunch of Valero stock in October and December for about $52-$53 a share and just sold it at $65 a share. Profit is enough to offset any raise in prices

Weren't willing to ride it for a year huh?

 

[andyzee]

Weren't willing to ride it for a year huh?

Nope

 

[Terry]

The truck will sit home and the motorcycle and bicycle will get used much more. Also the two shoe cadillac!

 

[wintersyndrome]

Nope

VLO $70.57 up nearly 3% today

 

[ski_resort_observer]

I'm all set for the raise. I purchased a bunch of Valero stock in October and December for about $52-$53 a share and just sold it at $65 a share. Profit is enough to offset any raise in prices

I have been watching Valero and it's a great stock. They own a bunch of refineries which is a good thing to own now or take some profit like you did. Just remember that since you owned it for less than a year you will get hit with some capital gains tax when you file next year as I think Roark was alluding to.

 

[andyzee]

VLO $70.57 up nearly 3% today

Didn't want to take a chance and get greedy, I'm happy with what I made.

 

[wintersyndrome]

Didn't want to take a chance and get greedy, I'm happy with what I made.

Just bustin chops andy...$13/ps is a great time to take a profit

 

[dmc]

I hope to do a lot of telecommuting this summer...

But if I do drive down to the corp. apartment in Ct...
I'll either skate of bike to work... A little less then a mile to the office..

 

[Goblin84]

well, i skipped the end of this thread...sorry guys

all I have to say is I am glad to be commuting into work via my bike this summer!

 

[riverc0il]

Honestly, I can not wait for $6 a gallon. Seriously! Once gas prices increase to a level that alternative energy sources and hybrids become viable alternatives, it will become economic necessity to use greener and cleaner energy sources. I am all for it. And until that time comes, my 35 MPG vehicle that I bought used several years back for $8k is seeming more and more like a sound investment.

 

[mlctvt]

Honestly, I can not wait for $6 a gallon. Seriously! Once gas prices increase to a level that alternative energy sources and hybrids become viable alternatives, it will become economic necessity to use greener and cleaner energy sources. I am all for it. And until that time comes, my 35 MPG vehicle that I bought used several years back for $8k is seeming more and more like a sound investment.

Right on Steve, I feel the exact same way . I was going to post earlier but I didn't want to get flamed. You are 100% correct, until gas hits $5-$6 a gallon I seriously don't think many people will change their habits. I've definaltey made some changes but most people just bitch and complain but continue to drive their behemoth gas guzzler SUVs usually with only one person in it.

 

[snoseek]

Honestly, I can not wait for $6 a gallon. Seriously! Once gas prices increase to a level that alternative energy sources and hybrids become viable alternatives, it will become economic necessity to use greener and cleaner energy sources. I am all for it. And until that time comes, my 35 MPG vehicle that I bought used several years back for $8k is seeming more and more like a sound investment.

i fully agree with what your saying. a couple years ago i traded my old truck for a civic hx because of high prices. money talks, and things need to change asap. that's all i will say without going on a political rant.

 

[ski_resort_observer]

Honestly, I can not wait for $6 a gallon. Seriously! Once gas prices increase to a level that alternative energy sources and hybrids become viable alternatives, it will become economic necessity to use greener and cleaner energy sources.

I agree with your logic 1000% except the national average will never reach $4. If it did get to $6 there would be such a stampede for alternative energies it would probably get all screwed up. Whenever there is a rush to fix a problem we usually end up way overcorrecting.

I feel there is definately growing momentum on many fronts for going green and developing alternative energy. These seasonal spikes help move it along as well.

 

[riverc0il]

I agree with your logic 1000% except the national average will never reach $4. If it did get to $6 there would be such a stampede for alternative energies it would probably get all screwed up. Whenever there is a rush to fix a problem we usually end up way overcorrecting.

I feel there is definately growing momentum on many fronts for going green and developing alternative energy. These seasonal spikes help move it along as well.

I would not be surprised to see $4 a gallon soon. Who knew that we would ever hit $3 a gallon? Especially when just seven years ago it was only $1 a gallon? But I do see your point about the over correction issue and obviously, a super high sudden spike would be bad for the market and economy. Gradual increasing and spikes, as you mentioned, do lead the way to developing alternatives.

 

[dmc]

I would not be surprised to see $4 a gallon soon. Who knew that we would ever hit $3 a gallon? Especially when just seven years ago it was only $1 a gallon? But I do see your point about the over correction issue and obviously, a super high sudden spike would be bad for the market and economy. Gradual increasing and spikes, as you mentioned, do lead the way to developing alternatives.

Those prices won't hurt me...

But they will hurt others... It's easy for us consumers of gas that just use it for comuting to say we can handle increased prices... But what about businesses that are already struggling and use a lot of gas to deliver goods and services?

 

[thetrailboss]

Here's a suggestion as to how to use your consumer power. Just got this in an E-mail. Seems a bit simplistic, but worth a try:

GAS WAR - an idea that WILL work

This was originally sent by a retired Coca Cola executive. It came from one
of his engineer buddies who retired from Halliburton. It' s worth your
consideration.

Join the resistance!!!! I hear we are going to hit close to $4.00 a gallon
by next summer and it might go higher!! Want gasoline prices to come down?
We need to take some intelligent, united action. Phillip Hollsworth offered
this good idea.

This makes MUCH MORE SENSE than the "don't buy gas on a certain day"
campaign that was going around last April or May! The oil companies just
laughed at that because they knew we wouldn't continue to "hurt" ourselves
by refusing to buy gas. It was more of an inconvenience to us than it was a
problem for them.

BUT, whoever thought of this idea, has come up with a plan that can really
work. Please read on and join with us! By now you' re probably thinking
gasoline priced at about $1.50 is super cheap. Me too! It is currently
$2.79 for regular unleaded in my town. Now that the oil companies and the
OPEC nations have conditioned us to think that the cost of a gallon of gas
is CHEAP at $1.50 - $1.75, we need to take aggressive action to teach them
that BUYERS control the marketplace..... not sellers. With the price of
gasoline going up more each day, we consumers need to take action. The only
way we are going to see the price of gas come down is if we hit someone in
the pocketbook by not purchasing their gas! And, we can do that WITHOUT
hurting ourselves. How? Since we all rely on our cars, we can't just stop
buying gas. But we CAN have an impact on gas prices if we all act together
to force a price war.

Here's the idea:

For the rest of this year, DON'T purchase ANY gasoline from the two biggest
companies (which now are one), EXXON and MOBIL. If they are not selling any
gas, they will be inclined to reduce their prices. If they reduce their
prices, the other companies will have to follow suit.

But to have an impact, we need to reach literally millions of Exxon and
Mobil gas buyers. It's really simple to do! Now, don't wimp out at this
point.... keep reading and I'll explain how simple it is to reach millions
of people.

I am sending this note to 30 people. If each of us sends it to at least ten
more (30 x 10 =3D 300) ... and those 300 send it to at least ten more (300
x 10 =3D 3,000)...and so on, by the time the message reaches the sixth
group of people, we will have reached over THREE MILLION consumers. If
those three million get excited and pass this on to ten friends each, then
30 million people will have been contacted! If it goes one level further,
you guessed it..... THREE >>>>HUNDRED MILLION >>>>PEOPLE!!!

Again, all you have to do is send this to 10 people. That's all. (If you
don't understand how we can reach 300 million and all you have to do is
send this to 10 people.... Well, let's face it, you just aren't a
mathematician. But I am, so trust me on this one.)

How long would all that take? If each of us sends this e-mail out to ten
more people within one day of receipt, all 300 MILLION people could
conceivably be contacted within the next 8 days!!!

I'll bet you didn't think you and I had that much potential, did you?

Acting together we can make a difference. If this makes sense to you,
please pass this is message on. I suggest that we not buy from EXXON/MOBIL
UNTIL THEY LOWER THEIR PRICES TO THE $1.30 RANGE AND KEEP THEM DOWN.

THIS CAN REALLY WORK.