RV Fuel Issues & Prices - Post 'Em Here!

[Dick_A]

All other fuel threads will be automatically deleted. 🙂

[ORbiker]

Hurricaner wrote:
Then things will get interesting.

Sam

I'm waiting

How may days after the election will it be???

OR will it hit the fan before election time???

It is all just another ploy to screw up this country.

[Hurricaner]

This fuel mess is all speculation and when it comes crashing down it will take some of your pensions with it. The investors destroyed the housing market and this is just there next fiasco. We have plenty of oil for the present market and you will soon see that there is too much crude on the market and the bottom will fall out. Then things will get interesting.

Sam

[lwmuddy]

Here is another link the the Norris video. The other one didn't work for me.

The TV and TV News is the way to get to the majority of Americans, BUT since it (TV) is controlled by the ( insert your favorite group) All Americans will remain in the dark as to what is really going on around them.

For right now, Blogs and Talk Radio are the only ones that are publicly voicing apposing views.

I looks like Chuck doesn't have to worry about getting people to butter his bread. $$$$.

Other celebrities have a monetary involvement and that's why the majority will support the Liberal way of solving our problem.

If this was war time, then these protesters would go to prison and be accused of treason. A terrorist act, if you will.

I fear for my country, because it has the enemy "within it" NOW and they are in control of the Ministry of Truth, as it were.

There may come a time, in the not too distant future, when statements like these will not be allowed, when Blogs and forums will be considered as sedition.

Our children do not deserve to live under oppression and censorship, no matter who is in control.

[ML]

I just received an e-mail about ANWR drilling. I went to snopes and truth or fiction to verify but just found it posted on a blog. Ignore the party retoric but if the maps and pictures have any truth to it???

The Truth About ANWR Drilling » The Foundry
http://blog.heritage.org/2008/06/29/the-truth-about-anwr/

In my search I found a black belt on the case:
Chuck Norris American Activist
http://www.townhall.com/video/FoxNews/2176_080611-102029_061108_ff_norris_F1200

Drill here, Drill now, Pay less
http://www.americansolutions.com/actioncenter/petitions/?Guid=54ec6e43-75a8-445b-aa7b-346a1e096659

[DanHouck]

Enron stole/lost a lot of money but they didn't get us in this mess.

This did, just include the RINOs in it for accuracy:

http://www.liveleak.com/view?i=58b_1213623073

[macira]

$8.00 fuel will be the least of our comming problems.. Bye the bye the depression was the 30's not the 40's. I'm old enough to remember some of the 30's and all the 40's. The folks who "want to believe" in change will surely get it.

[Hurricaner]

Ken Lay, Enron founder, dead at 64 - Jul. 5, 2006...KARMA, there is no substitute.

Sam

[DanHouck]

Then why did they pay back large sums of money?

Legalized extortion, very common in the People's Republic of California.

This situation all boils down to politics. For years, a coalition of leftist Dems and RINOS, and radical environmentalists using the court system, have stymied the development of resources and refining capacity in this country. Now we've hit the point where off shore interests that own the oil, mostly nations and nationally controlled oil companies, are holding the high cards and they are playing them. Speculation is simply the byproduct of the cartelized control of supply and the tightness between supply and demand.

Announce tomorrow that the U.S. is going to go all out to end its oil dependency on our enemies and watch the speculators run for cover.

The U.S. has many billions of barrels of its own resources that have been bottled up, and this is even before you start working on coal to oil, a process that is fully proven and economical at $50 per barrel. The problem here is not lack of resource, the problem is a populace that has become so dumbed down and apathetic that they have allowed a minority of radicals to back the country into an energy corner.

Putting the same people who got us into this mess fully in charge of the country next year will administer the coup de grace. If you think the American Dream can survive $8 gas, I have a bridge in Manhattan to sell you. Putting Pelosi, Reid and Obama in charge is a guarantee of not only $8 fuel but a recession the likes of you've not seen since WWII.

I realize this is political and will probably be edited away. But when it comes down to it, this problem is ALL about politics and wrong decisions and pretending that is not the case is silly.

So censor me.

[10tca01]

Sea Dog wrote:

10tca01 wrote:
Gas prices are terrible they are raping us I can't pay for it alot I'm only 16 this is going to ruin the rest of my known life I hate those big oil idiots they need to be shot we need to drill in Alaska and in the Gulf of Mexico WE NEED ALTERNATIVE SOURCES!!!! AHHHHHHHHHHHHHHHHHHHHHHHHHHHH!!!!!!!!!!!!!!!!!!

Okay, rant done. Thanks!
Tyler

If I could be sixteen again, I would happily pay any price for fuel!
Congradulations! You are the luckiest person here!

I am? Wow! Thanks! But trust me, being 16 doesn't really compensate for having to put half my grocery job paycheck into my fuel tank.

[AO_hitech]

bid_time wrote:
Enron cheated California legally, because they could; they took advantage of a loophole the "De-Regulators" made. The scandal was due to the artificially inflated stock price, the inflated price of electricity was all nice and legal.

Then why did they pay back large sums of money?

[Sea_Dog]

10tca01 wrote:
Gas prices are terrible they are raping us I can't pay for it alot I'm only 16 this is going to ruin the rest of my known life I hate those big oil idiots they need to be shot we need to drill in Alaska and in the Gulf of Mexico WE NEED ALTERNATIVE SOURCES!!!! AHHHHHHHHHHHHHHHHHHHHHHHHHHHH!!!!!!!!!!!!!!!!!!

Okay, rant done. Thanks!
Tyler

If I could be sixteen again, I would happily pay any price for fuel!
Congradulations! You are the luckiest person here!

[10tca01]

Gas prices are terrible they are raping us I can't pay for it alot I'm only 16 this is going to ruin the rest of my known life I hate those big oil idiots they need to be shot we need to drill in Alaska and in the Gulf of Mexico WE NEED ALTERNATIVE SOURCES!!!! AHHHHHHHHHHHHHHHHHHHHHHHHHHHH!!!!!!!!!!!!!!!!!!

Okay, rant done. Thanks!
Tyler

[bid_time]

Well R&DScott lets for the sake of argument say you are absolutely 100% correct. That being the case, and if I am making as much money on oil speculation as you suggest, then I am not going to quit. Last I checked, commodities trading was perfectly legal.

If on the other hand, it is supply and demand, I can control my thirst for oil, or I can choose not to and pay the price.

The solution therefore is the same no matter which scenario is correct. Use less = pay less and hence will drive down the price of a barrel of oil.

By the way, Enron was an accounting fraud. It showed profits and revenues by selling energy to itself, hence inflating the companies book value and therefor its stock price artificially. Additionally, while I hate Dick Cheney with a passion, If you research the Enron scandal you will find the very first line in your post, a quote from Dick Cheney, is spot on.

"The problem you had in California was caused by a combination of things: an unwise regulatory scheme, because they didn't really deregulate. Now they're trapped from unwise regulatory schemes, plus not having addressed the supply side of issues. They've (Californians) obviously created major problems for themselves." —Vice-President Dick Cheney, May 17, 2001. Enron cheated California legally, because they could; they took advantage of a loophole the "De-Regulators" made. The scandal was due to the artificially inflated stock price, the inflated price of electricity was all nice and legal.

[R_DScott]

Just to add some fuel to the fire so to speak

High Oil Prices: It's All Speculation
The Administration says oil's runup is due to shortages, but the evidence points to manipulation
BusinessWeek.com 06/27/2008
Author: Ed Wallace




"The problem you had in California was caused by a combination of things: an unwise regulatory scheme, because they didn't really deregulate. Now they're trapped from unwise regulatory schemes, plus not having addressed the supply side of issues. They've [Californians] obviously created major problems for themselves." —Vice-President Dick Cheney, May 17, 2001, on PBS's Frontline"Market fundamentals show us that production has not kept pace with growing demand for oil, resulting in increasing prices and increasingly volatile prices. There is no evidence that we can find that speculators are driving futures prices for oil." —Secretary of Energy Sam Bodman, June 21, 2008, on MSNBC
Today, while energy prices are crushing American families, I think we'd all benefit by reflecting on what happened with energy in 2001. Seven years ago, Enron was fleecing California, extorting its people for electricity to the tune of billions of dollars. As is true today, some voices in the Administration claimed that supply shortages, not manipulation, formed the core of California's soaring electricity prices. Yet, now that we know the whole story of Enron's criminal manipulations, many menbers of the media have forgotten how in 2001 the White House deflected any blame for California's suddenly stratospheric electrical costs away from their Houston friends.
Likewise, our Energy Secretary has a real problem discussing issues with facts. Like a broken record, he continues to maintain that in no way has speculation had anything to do with today's high oil prices. No, to hear Sam Bodman tell it, they are now and always have been caused by too many buyers chasing too few barrels of oil. But, while that might have been true in 2004, things have changed. And so I give you just one week of news from the oil market. To be more exact, it's the oil news from the seven days preceding our Energy Secretary's comments about supply and demand.
It Was Printed in English
"[U.S.] demand for oil over the first five months of the year was off 2.5%* from last year." —American Petroleum Institute, June 18, 2008, Associated Press Online (*Translation: We are using approximately 525,000 fewer barrels of oil per day.)
"Iran has 15 [oil] supertankers idling in the Persian Gulf capable of storing more than 30 million barrels of crude." —Bloomberg, June 16, 2008
"Thunder Horse started pumping from a single well on Saturday…and on schedule to have the field online by yearend. Thunder Horse alone will increase overall U.S. oil and gas production by 3.6%. Add British Petroleum's Atlantis platform that started up last year, and the boost grows to 6.4%." —Houston Chronicle, June 16, 2008
"Asian refiners cut West African crude oil imports in June. Asian imports will fall 36%* to 830,000 barrels a day this month from May's 1.3 million barrels per day." —Bloomberg, June 17, 2008 (*Translation: Another 470,000 barrels a day of mostly light sweet crude rejected by the market.)
Saudi Arabia's Role
"Refiners across Asia said on Monday they were not likely to buy more Saudi crude at current prices, highlighting the kingdom's challenge in attempting to contain soaring markets by promising extra barrels. The world's top exporter is set to increase output to 9.7 million barrels per day in July. The extra 200,000 bpd, if confirmed, would come on top of the 300,000 bpd it promised to pump this month." —Livemint (part of the Wall Street Journal Digital Network), June 16, 2008 (That's another 500,000 barrels of oil apparently not purchased.)
"Daily shipments of North Sea Brent crude…will rise 8.6% in July. Tankers are set to load 175,097 barrels a day of Brent crude next month, up from 161,300 barrels a day scheduled for June." —Bloomberg June 9, 2008
"'[U.S.] Drivers Cut Back by 30 Billion Miles:' Americans drove 22 billion fewer miles from November through April than during the same period in 2006-07, the biggest such drop since the Iranian revolution led to gasoline supply shortages in 1979-1980." —USA Today, June 22, 2008
"South Korea's May Oil Consumption Falls on High Price" —Bloomberg, June 20, 2008
"Faced with increasingly severe fuel shortages and the prospect of power failures during the summer air conditioning season, the Chinese government unexpectedly announced a sharp increase* late Thursday night in regulated prices for gasoline, diesel, and electricity." —The New York Times, June 20, 2008 (*Translation: Gasoline and diesel prices in China increased by 18% immediately to cool demand.)
Excess Oil on the Market
Now, just for fun, let's add up all of the excess oil on the market, resulting either from cutbacks in demand, as in the U.S., Asia, or Korea, or from surplus production from oil producers such as Saudi Arabia and in the Gulf of Mexico. Just in the articles I cited, it comes to 1,989,000 barrels of oil a day. That does not include the upcoming Saudi Khursaniyah field that will open in August with another 500,000 barrels per day in production. Some shortage, huh?
And that's just one week of articles. And, to be fair to the oil market and the spirit of this column, the world did lose some production out of Mexico, more out of Nigeria; Russian production is down slightly; and the Thunder Horse platform in the Gulf of Mexico, three years late thanks to hurricanes, is not fully operational as of this writing. But, then again, the surplus 1,989,000 barrels of oil per day we counted did not include what's potentially in those 15 oil supertankers leased by Iran and parked in the Persian Gulf. Now is also a good time to note that on June 20, Saudi Arabia announced that its Khurais oil field would be online by this time next year, and that would contribute another 1.2 million barrels of oil per day to the world market.
"Oil Market Hype" as News
Over the past two months in this column, we've discussed how speculation is distorting the oil market (and that of any commodity with an inelastic price, such as foods). I discussed how the "dark, unregulated" futures look-alike markets allowed overbidding of oil contracts with little if any oversight from regulators. Within a few weeks the Commodities Futures Trading Commission (CFTC) said it would move to bring those "dark, unregulated" markets under its oversight in an attempt to bring order to speculation and bring prices within the guidelines of legitimate supply and demand. And by the way: "Dark and unregulated" was how both the Senate and the House referred to ICE Futures OTC. Those adjectives weren't mine.
(ICE Futures OTC refer to the trades made by Intercontinental Exchange and its subsidiaries in futures and over-the-counter (OTC) commodities, and derivative financial products in the U.S. and around the world.)
Once the cat was out of the bag, internationally the media started discussing speculation as the real reason behind today's high oil prices; major articles ran in the Houston Chronicle and Der Spiegel in Germany. On hearing about the CFTC's intent to rein in speculators in these unregulated markets, a vice-president with a Dallas energy firm wrote me to ask: "Do you feel like the two guys at The Washington Post on the day Nixon resigned?"
The most surprising e-mail came from Chris Cook, a former director of the London Petroleum Exchange—now ICE Futures Europe. Cook wrote: "I am convinced there has been manipulation of the Brent Complex [the term that defines North Sea Brent crude prices] by ICE members for the last 10 years at least. I think it is quite likely that the Brent forward price is being kept artificially high—which does require deep pockets and accounts for the continuing barrage of Goldman [Sachs] forecasts and much of the other oil market hype that passes for news."
Think about what Mr. Cook said: "Oil market hype that passes for news." That sums up what you hear and read daily about oil.
Can't Touch This!
Since the publication of those columns, however, four senators have introduced legislation to "close the London Loophole Act," which in fact validates the reporting. Also worth noting is that, according to the London Financial Times, ICE Futures Europe "bowed last week to pressure to introduce position limits for speculative traders." Jeffrey Sprecher, CEO of Intercontinental Exchange (ICE), was quoted in that article as saying: "At some point, some of the extreme proposals in the Congress would drive the business out of the U.S. There's no question in my mind that the capital flows and trading behavior will move quickly offshore."
Let me translate that, too: If we move to bring sanity to the commodity markets, then those markets will simply go do business where our federal regulators can't touch them.
And so, while our Energy Secretary continues to blame America's oil crisis solely on supply and demand instead of speculators, much as Dick Cheney blamed California instead of Enron in 2001, it takes little research to verify that no one yet has been denied an oil contract—and in fact, refiners around the world are today turning down oil they're being offered.
One last thought on speculation in the oil market. In 2006, 100% of those who purchased oil contracts lost money because of the market's contango (meaning spot oil prices were less than the contracted price on the date of delivery). In the fall of that year, when banks started demanding that margins be paid on those losing contracts, oil collapsed back to nearly $50 a barrel. In only 18 months, we've forgotten that lesson, too.

[ORbiker]

I too have parked my truck. We will use the Harley this summer for our travels. I am putting the truck insurance into suspension (fire and thief only). Maybe the insurance companies will do a little pushing once more people do the same thing.