RV Fuel Issues & Prices - Post 'Em Here!

[Dick_A]

All other fuel threads will be automatically deleted. 🙂

[stevenicoldeact]

Hurricaner wrote:
My comment was a poor attempt at sarcasm. No one fully understands what is going on with oil futures at this time. One thing is for sure and that is it's being driven by speculators, some trying to hedge against inflation and some are gamblers looking for a quick buck.

Sam,

Since you're brave enough to lend your expertise to this forum, I'm going to make an assumption that you've completed your Series 6 and have a Broker Dealer License: right? Or maybe you're like me on permanent-vacation from the finance industry, but just can't keep your eyes, fingers, and ears out of it.

Anyway, I've had a lot of success with short-term investments (not trading, I never had to use a margin account) using RN Elliot's wave Principles to predict price movement. To make a long-story short, applying some watered-down Calculus for Elliot's Fibonacci jive, I've predicted that the price of Raw Crude will bottom out much higher than your prediction of $75/bbl. Or is this number your attempt at sarcasm that I shouldn't take too seriously? If so, sorry, I don't want to waste your time: I'm just a curious geek.

So, is this an arbitrary number that you pulled out of the air, or do you know something..?

Also, like the technology boom of the late 1990s, early 2000s, how much do you think the volume of oil futures traded daily has to do with the upward price movement? If volume decreases, when traders and short-term investors tire of the commodities market, perhaps the market will slide like the technology market has?

Thanks for your knowledge,
Steve

[kudos383]

wing_zealot wrote:

kudos383 wrote:
All the other comd's the usda and govt are involved in,they buy them have to keep them cool,etc.uncle sam is watching.Oil can be bought years in advance,never have to touch it or even see it,just every 30days resale it.But with Iraq now putting out oil,and more in the future,plus gov getting involved,I see oil takeing a big fall.

Your explaination of how the commodities markets works is clearly way out in left field. Nice guess, but totally off base. You are obviously clueless as to how commodities trading works. Don't try to explain something you clearly know nothing about.

Gee I own pork bellies, lots of them, but I sure don't have them in a refrigerator, actually, their still eating and pooping, and I don't even own the farm they are on, just the bellies. And the USDA doesn't do a thing, until your ready to butcher them for sale. Then all they do is test for contamination and inspect the belly, there is no watchdog.

Read and learn, then learn some more, then investigate it your self, then put your own money into it and learn the hard way, then maybe you will be qualified to post about how commodities trading works. It just irks me to no end when people profess something to be true (like oil speculators are driving up the price of oil) with no first hand knowledge. Then they back it up with some totally wrong BS that shows they know absolutely nothing about what they are talking about. Just repeating something they heard some where else and gee, it's just gotta be true, casue so and so said so. Get Outta Town!

Do I have to go to the corner now?Maybe my comment was spect,lol.

[Hurricaner]

My comment was a poor attempt at sarcasm. No one fully understands what is going on with oil futures at this time. One thing is for sure and that is it's being driven by speculators, some trying to hedge against inflation and some are gamblers looking for a quick buck. The world cannot afford 100+ oil at this time and there is just too much of it too warrant the price.

As far as GM is concerned oil can go down to 75 bucks a barrel, which I believe it probably will, and it won't help them one bit. Gas will still be 3 bucks a gallon and people can't and should not drive large pickups and suvs. This is the only smart thing GM has done in 50 years.

Sam

[topflite51]

eltejano1 wrote:
Sam:

I have the same question as Sea Dog - namely, what is it about that particular commodity that makes it different from sugar, lumber or copper? Could it be that there realy are significant shortages of petroleum and dim prospects for more down the road?

Please explain, Sam.

Jack

Perception, both real and imaginary.

[eltejano1]

Sam:

I have the same question as Sea Dog - namely, what is it about that particular commodity that makes it different from sugar, lumber or copper? Could it be that there realy are significant shortages of petroleum and dim prospects for more down the road?

Please explain, Sam.

Jack

[wing_zealot]

Sea Dog wrote:

wing_zealot wrote:

kudos383 wrote:
All the other comd's the usda and govt are involved in,they buy them have to keep them cool,etc.uncle sam is watching.Oil can be bought years in advance,never have to touch it or even see it,just every 30days resale it.But with Iraq now putting out oil,and more in the future,plus gov getting involved,I see oil takeing a big fall.

Your explaination of how the commodities markets works is clearly way out in left field. Nice guess, but totally off base. You are obviously clueless as to how commodities trading works. Don't try to explain something you clearly know nothing about.

Gee I own pork bellies, lots of them, but I sure don't have them in a refrigerator, actually, their still eating and pooping, and I don't even own the farm they are on, just the bellies. Get outta town.

Well this is what I thought.
I understood that no one actually takes delivery, no one wants a carload of beans or lumber dumped in their drive!

There are many reasons for buying and selling commodities. Some are farmers that want to insure a good price for thier crop when they actually harvest it (next fall), some are food producers like General Mills that want to ensure a certain price for the grain they won't even be taking delivery of until next January. And everyone in between, who may be merely making a loan to a farmer and holding grain in return and hoping they get a decent return on their investment. If they are right, all is good, if they are wrong, they lost their money. But whatever, none of those players gets to set the price, they buy and sell at the going price and take their chances just like investing in stock. You have to have a willing buyer and a willing seller or there is no sale.

[crudeman]

Geesh.. glad to see we have a new forum god here amongst us now!

[Sea_Dog]

wing_zealot wrote:

kudos383 wrote:
All the other comd's the usda and govt are involved in,they buy them have to keep them cool,etc.uncle sam is watching.Oil can be bought years in advance,never have to touch it or even see it,just every 30days resale it.But with Iraq now putting out oil,and more in the future,plus gov getting involved,I see oil takeing a big fall.

Your explaination of how the commodities markets works is clearly way out in left field. Nice guess, but totally off base. You are obviously clueless as to how commodities trading works. Don't try to explain something you clearly know nothing about.

Gee I own pork bellies, lots of them, but I sure don't have them in a refrigerator, actually, their still eating and pooping, and I don't even own the farm they are on, just the bellies. Get outta town.

Well this is what I thought.
I understood that no one actually takes delivery, no one wants a carload of beans or lumber dumped in their drive!

[wing_zealot]

kudos383 wrote:
All the other comd's the usda and govt are involved in,they buy them have to keep them cool,etc.uncle sam is watching.Oil can be bought years in advance,never have to touch it or even see it,just every 30days resale it.But with Iraq now putting out oil,and more in the future,plus gov getting involved,I see oil takeing a big fall.

Your explaination of how the commodities markets works is clearly way out in left field. Nice guess, but totally off base. You are obviously clueless as to how commodities trading works. Don't try to explain something you clearly know nothing about.

Gee I own pork bellies, lots of them, but I sure don't have them in a refrigerator, actually, their still eating and pooping, and I don't even own the farm they are on, just the bellies. And the USDA doesn't do a thing, until your ready to butcher them for sale. Then all they do is test for contamination and inspect the belly, there is no watchdog.

Read and learn, then learn some more, then investigate it your self, then put your own money into it and learn the hard way, then maybe you will be qualified to post about how commodities trading works. It just irks me to no end when people profess something to be true (like oil speculators are driving up the price of oil) with no first hand knowledge. Then they back it up with some totally wrong BS that shows they know absolutely nothing about what they are talking about. Just repeating something they heard some where else and gee, it's just gotta be true, casue so and so said so. Get Outta Town!

[sirdrakejr]

Here is something to watch. I heard today that George Soros is buying SHORT in oil futures. He made his BILLIONS buying short in British Pound Sterlings and now he is buying short in oil futures. That means he thinks the price of oil futures is going to tank and he is betting his money on it. It ain't gospel, but that is what I heard today. Now lets see if it comes true.
Frank

[kudos383]

I miss worded that alot,but you get the point,big oil has not been controled.As far as Gm,they are selling loads in china now.they will get the good stuff while we are stuck with the crap.lol

[Sea_Dog]

kudos383 wrote:
All the other comd's the usda and govt are involved in,they buy them have to keep them cool,etc.uncle sam is watching.Oil can be bought years in advance,never have to touch it or even see it,just every 30days resale it.But with Iraq now putting out oil,and more in the future,plus gov getting involved,I see oil takeing a big fall.

Thank you.

As far as seeing oil taking a big fall....
You must have better info than General Motors.
They are banking on oil staying high.

[kudos383]

All the other comd's the usda and govt are involved in,they buy them have to keep them cool,etc.uncle sam is watching.Oil can be bought years in advance,never have to touch it or even see it,just every 30days resale it.But with Iraq now putting out oil,and more in the future,plus gov getting involved,I see oil takeing a big fall.

[Sea_Dog]

Hurricaner wrote:

Why, can the oil traders create such huge increases yet others cannot?

If you don't know, no one will be able to explain it to you.

Sam

Thank you for the lucid explanation.

I thought that I was asking a legitimate question, apparently I am deemed past being able to absorb information from those in the know!

[topflite51]

onrecess wrote:
It is happening!
Congress passed a veto-proof bill stopping the idiotic buying of oil for the reserves at record prices, cutting stocks and helping raise prices- one boondoggle down.
Congress is working on (the house passed it, Senate is expected to follow) a bill (called NOPEC) to end sovereign immunity of OPEC in our courts, allowing the Justice Dept and Federal trade Commision to charge collusionary restraining trade practices. Such actions against offshore syndicates are not unusual and have been highly effective.
"Rep. Edward Markey pointed out in recent House hearings that the oil companies currently have drilling rights to 30 million acres both on shore and offshore that they are not using. Given their performance, given their massive earnings on the backs of everyday Americans, given their lack of meaningful innovative initiatives to curtail our fossil fuel dependency, now perhaps more than ever is the time for Congress to consider the creation of National Oil Trust to develop both economically and in an environmentally friendly manner the nations hydrocarbon resources, not exclusively for the benefit of a handful of wealthy and powerful oil companies but for the nation as a whole. This could be achieved much in the spirit of, and in the example of Norway's National Oil Trust through which that nation's oil and gas riches accrue to all its citizens (please see "The Oil Industry is Driving Away With Our Future- The Norway Solution" 04.24.06). Clearly, an American National Oil Trust venturing to develop the Alaskan ANWAR Refuge would have a totally different resonance in the halls of government and among our citizenry than its development being left to an oil industry that has lost its credibility or an Exxon Mobil adding another billion to its bottom line." http://news.yahoo.com/s/huffpost/20080601/cm_huffpost/104095;_ylt=AoBpo5oa9zINzZLfmlBdVMMd6sgF
Same OPED:
"- Speculation in oil and oil product markets has distorted the realities of market logic. On May 22nd the price of oil on the trading exchanges topped an all time high of $135 per barrel. On that day Iran had fifteen fully loaded tankers waiting in harbor with no place to go "waiting for greater demand to lift spot prices as well" (translation-couldn't find a buyer). Russian crude was selling at a $5.00 a barrel discount a to its equivalent North Sea crude on the spot market, if and when there were any takers. And yet long dated futures contracts were selling at significant premiums (at contango) largely in reaction to Saudi Arabia's announcement that they would not expand their production capabilities in the future beyond the long since promised 12.5 million barrels currently planned by 2009. Nor would they commit to any significant increase in current production as needed to signal to a market that prices need to come down, this in spite of the entreaties of President Bush and numerous other countries and agencies. Clearly when paper barrels are bid to the sky and wet barrels go begging there is a manifest irrationality lurking in the oil trading pits. It is bad enough to have the oil executive royalty spouting the nonsense "the price of their product is determined by supply and demand" before an assembled Congressional hearing, but it becomes particularly grating hearing it from our government officials or perhaps better described as oil patch lackeys the likes of Energy Secretary Sam Bodman, Acting Chairman of the CFTC Walter Lukken, and now Secretary of the Treasury Hank Paulson who one would have hoped would have known enough to know better."
Uh-oh... I can almost see that 100 BILLION in extra profits this year going, going...
Gee, seems both parties see the people have had enough. (At least until election time.) A new day, she be a-comin'.
🙂

I smell a stench. It is called rationing.