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WTI $49 Handle, Brent Under $59 On Inventory Build Concerns
Following last night's dramatically larger than expected API inventory build (and ahead of today's EIA inventory and production data), crude oil prices are tumbling. WTI is back below the $50 Maginot Line and Brent has brokenm back below $59...
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2015 is Peak Everything Year.
Act accordingly.
29.5 hr/wk jobs, Obamacare premiums plus amnesty....no one can afford gas anymore.
http://www.bizjournals.com/houston/news/2015/02/18/warren-buffett-sells-...
so $2.29 a gallon on Sunday was a Mistake on my part then..
Probably not, given the refinery explosion yesterday, and AFAIK, the strike is still going on.
If the government really cared about us "common folk" they'd lower the damn gas taxes. Here where I'm at, outside of Austin, gas is still $2.20+.
When calculating the cost of gas the distance from the refinery adds to the prices, simple math. So why is it that oil has gone down, production has gone up, yet gas prices have swung back up? You could say, "it's because there isn't a pipeline," and that might explain why they haven't gone down, but not back up.
I am unsure of the newest regs and taxes that have been put in place, but what I do know is that they jack up the price. Not to mention the total stupidity of the ethanol mandate, ruining your engine for worse gas mileage. One of the leading causes for the rise in beef and all grain fed animal prices is the ethanol mandate.
\rantoff
A couple of years go, a Hyundai rep called me and asked me if i was getting the 29/40 MPG advertised on Elantras. I told him "no." The rep told me to find pure gas, run that for a month, and call him. Not only did my milegae go up 10%, but I discovered corn has very little energy and damages gaskets and seals. I now have an account with a pure gas dealer. I pay 10 cents more a gallon and I am happy to do so. Judging from the traffic there- I'm not the only one.
Relevant info:
http://pure-gas.org/index.jsp?stateprov=TX
I'm sure Habib is on that ladder as we speak lowering the price of gas at the stations on my route home just like he is when the price of oil rises. Right? Right?? Bueller...
Oil up- good for stawks.....oil down- good for stawks, here in 'Everything is awesome 4eva' (tm) era.
What happens when they keep pumbing Oil and the Storage is full? It must be getting pretty close to this.
When I was a kid, once your tank was full, the local gas station owner would just pump it into the storm-drain until the pump reached an even dollar amount. (gas being forty-something cents at the time)
I wonder how many empty rail cars Buffet has?
Once wells are drilled and producing, they will continue to do so, period. Same as it ever was.
Now, regarding CAPEX...
tick tock motherfuckers.
CNBC at its best. Walmart earnings???????
http://www.cnbc.com/id/102436075
They'll just make it up on volume!
There needs to be an act of Congress to mandate taxpayers to buy at least ten gallons of gas per week, regardless if the taxpayer owns a car or not.
If you don't buy gas, Congress will fine the taxpayer 500 dollars for not fulfilling the demand of the mandate, payable when you file your taxes.
LOL!! Brilliant...
regarding this statement however; "payable when you file your taxes.."
What percentage of the population actually has to file again?
Well, that's kind of how T. Boone Pickens sells NG.
Good work... if ya can get it!
When so many people in the US are living off the government and driving less who needs as much gasoline?
All those Chinese that were busy producing junk for Americans would buy are now idle. So less fuel needed.
A slowdown of global proportions with oil economies based on old demand crteria.
All predicted by Mises over a century ago.
CapEx without adequate ROI is nobody's friend, except for the repo-man.