If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(WLSAM) Interesting Oil again flirting with $100 per barrel. Did oil learn NOTHING from Herman Cain?   (wlsam.com) divider line 24
More: Interesting  
•       •       •

462 clicks; posted to Business » on 09 Nov 2011 at 11:48 AM   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»   |    Get this fabulous T-Shirt and impress the methane out of your friends! shirt it!



24 Comments   (+0 »)
   
 
gameshowhost [TotalFark]
2011-11-09 11:38:20 AM
Clearly we need to price barrels of oil at $99.9.
 
ha-ha-guy
2011-11-09 12:40:18 PM
Maybe Israel should shut the fark up about starting a poop throwing match Iran and shutting down Hormuz.
 
DannyJunior
2011-11-09 12:47:35 PM
s3.amazonaws.com
 
mod3072
2011-11-09 12:56:54 PM
So we're going with "the economy is recovering and not heading towards another recession" again this week? When unemployment numbers rise "unexpectedly" again this month, do we get to panic again?
 
protectyourlimbs
2011-11-09 01:03:04 PM
Because they can. That's why. Big Oil wont stop until it gets blood from a rock.
 
Old enough to know better
2011-11-09 01:16:53 PM
Damn, summer starts earlier every year.
 
chimp_ninja [TotalFark]
2011-11-09 01:24:41 PM
protectyourlimbs: Because they can. That's why. Big Oil wont stop until it gets blood from a rock.

It's also worth noting that the price of oil crept up 22% and the price of gasoline barely moved.

That disconnection should tell you something about the price of gasoline is really set.
 
mrlewish
2011-11-09 01:27:18 PM
Look for Israel to buy oil futures and then instigate something.
 
Fizpez
2011-11-09 01:35:38 PM
chimp_ninja: protectyourlimbs: Because they can. That's why. Big Oil wont stop until it gets blood from a rock.

It's also worth noting that the price of oil crept up 22% and the price of gasoline barely moved.

That disconnection should tell you something about the price of gasoline is really set.

Uhhh gas went up 30 cents/gallon in the last week here - it NEVER went down to where the $/barrel price indicated it should.

We've got 2 groups hitting this gravy train right now - oil speculators and gas retailers.
 
chimp_ninja [TotalFark]
2011-11-09 02:15:50 PM
Fizpez: chimp_ninja: protectyourlimbs: Because they can. That's why. Big Oil wont stop until it gets blood from a rock.

It's also worth noting that the price of oil crept up 22% and the price of gasoline barely moved.

That disconnection should tell you something about the price of gasoline is really set.

Uhhh gas went up 30 cents/gallon in the last week here - it NEVER went down to where the $/barrel price indicated it should.

We've got 2 groups hitting this gravy train right now - oil speculators and gas retailers.

It's not just those two groups. The large oil companies are doing just fine. Exxon-Mobil exceeded $10B in profits during each of the first three quarters of 2011.

They figured out that Americans will pay $3.50/gallon for gasoline without breaking out pitchforks and torches. Why would they charge anything less when their raw material costs decrease? And now that the price of oil is coming back up, they already have you used to paying the higher price. In a couple months they'll manufacture some crisis to push it up to $3.75 or $4.00, and see how the public reacts to it this time around. If there's no pitchforks and torches, that will become the new normal.
 
BolloxReader
2011-11-09 02:29:59 PM
So Oil is going to ask women at presentations to introduce them to their hotter friends?

/confused about which Herman Cain proposal subby is alluding to
 
Knara
2011-11-09 02:36:24 PM
ha-ha-guy: Maybe Israel should shut the fark up about starting a poop throwing match Iran and shutting down Hormuz.

Nearly irrelevant.

You can take a huge chunk out of oil prices simply by requiring that everyone who bids on / holds futures contracts could take delivery of the physical goods at any time.
 
gameshowhost [TotalFark]
2011-11-09 02:50:59 PM
Fizpez: We've got 2 groups hitting this gravy train right now - oil speculators and gas retailers.

I hope you meant gas wholesalers.

/selling retail gasoline is one of the least profitable ventures on the planet
 
Flash_NYC
2011-11-09 03:25:26 PM
Hmm, oil has risen $10/bbl in the last 2 weeks, but no change in retail gas prices through yesterday, which was Election Day.

Now that people have voted, usually for the guy they "know", or the name they recognize, (sons, daughters, etc. of our politician caste in the USA), and most of the incumbents are still in office, it's safe to say that gas will rise @ 50 cents/gallon before Christmas/New Years and will be $1 more by March.
 
opiumpoopy
2011-11-09 04:35:09 PM
If I understand the above posts correctly, it's time for

i592.photobucket.com
 
Pep Streebeck
2011-11-09 04:47:55 PM
chimp_ninja:

We've got 2 groups hitting this gravy train right now - oil speculators and gas retailers.

It's not just those two groups. The large oil companies are doing just fine. Exxon-Mobil exceeded $10B in profits during each of the first three quarters of 2011.

They figured out that Americans will pay $3.50/gallon for gasoline without breaking out pitchforks and torches. Why would they charge anything less when their raw material costs decrease? And now that the price of oil is coming back up, they already have you used to paying the higher price. In a couple months they'll manufacture some crisis to push it up to $3.75 or $4.00, and see how the public reacts to it this time around. If there's no pitchforks and torches, that will become the new normal.
 
vaderstg
2011-11-09 04:50:59 PM
chimp_ninja: protectyourlimbs: Because they can. That's why. Big Oil wont stop until it gets blood from a rock.

It's also worth noting that the price of oil crept up 22% and the price of gasoline barely moved.

That disconnection should tell you something about the price of gasoline is really set.

It's cool that you didn't mention how the switch over to winter blends defrayed the squeeze in the profit margins, even though that was right there in the article for you.

Cause I'm sure that didn't have shiat to do with it at all..

Neither did hedging. Cause no one ever hedges their commodity prices by buying big when the prices are down (say, down about, oh I dunno, $78/bbl).
 
vaderstg
2011-11-09 05:07:15 PM
Pep Streebeck: They figured out that Americans will pay $3.50/gallon for gasoline without breaking out pitchforks and torches.

They also never reached ratcheting it all the way back down at the $75/bbl price, so grabbing that outlier and saying we've increased 22% in a month is pretty disingenuous. Look at the 10 and 20 day moving averages, both of which are still in the mid-80s. But a 10% move doesn't sound nearly as ominous as a 22% move, even though its statistically more accurate.
 
TIKIMAN87
2011-11-09 05:09:21 PM
It's the peak of oil people!!!11
 
Hollie Maea
2011-11-09 05:22:36 PM
TIKIMAN87: It's the peak of oil people!!!11

Donnie, you're out of your element.
 
chimp_ninja [TotalFark]
2011-11-09 05:50:39 PM
vaderstg: It's cool that you didn't mention how the switch over to winter blends defrayed the squeeze in the profit margins

Yeah, because Exxon-Mobil posting their third-straight quarter of $10.3B in profit is really showing that squeeze. I mean, that's barely more than the $7.3B they netted in the same quarter last year. Poor guys. How were they supposed to plan for a scenario where their refineries had to make winter blends as winter approached?
 
Beerguy [TotalFark]
2011-11-09 09:20:23 PM
They could raise the price to $10.00 a gallon tomorrow and we would all have to pay it because we have to get to work.
 
Dancin_In_Anson [TotalFark]
2011-11-10 08:05:29 AM
chimp_ninja: Exxon-Mobil exceeded $10B in profits during each of the first three quarters of 2011.

Excellent!
 
vaderstg
2011-11-10 09:51:42 AM
chimp_ninja: Yeah, because Exxon-Mobil posting their third-straight quarter of $10.3B in profit is really showing that squeeze. I

It's cute when you use numbers out of context. Keep doing it. It makes you sound smart.
 
Displayed 24 of 24 comments

Redisplay/refresh comments

This thread is closed to new comments.

Continue Farking
Submit a Link »
From the Fark Shop:
More from the Fark Shop »