The decline of fuel prices

You're right! You inspired me to pull out my last 3 years of Nat Gas bills and the friggin multiplier used is the highest ever, despite the fact that natural gas is trading at less than $6/MMBtu. I remember at it's peak (in the summer) it was close to $14. What gives there?

http://www.wtrg.com/daily/gasprice.html
 
News this morning on the way out of the door predicted $25.00 a barrel by spring.
Hmmmm...... wonder if that means I'm going to be able to put a few more hours on in the 2009 season???
Whoopee!!!

2008 season 25 hours
2007 season 100+ hours,
 
Hopefully in 2009 the marinas, and the industry itself, doesn't raise their rates to try and recoup 2008 loses instead of just embracing the newfound extra business!
 
And hopefully we all still have a source of income then (a job) to purchase the fuel!
 
I think it sucks. The gas prices were probably one of the main reasons not as many people were out wakeboarding and cruising around the lake, so we had it to ourselves or with few boats out quite often.

Hopefully gas prices at my particular marina will be incredibly high next summer :grin:
 
billandamy said:
I think it sucks. The gas prices were probably one of the main reasons not as many people were out wakeboarding and cruising around the lake, so we had it to ourselves or with few boats out quite often.

Hopefully gas prices at my particular marina will be incredibly high next summer :grin:
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I'm with you on that one. A lot of idiots stayed off the lake because of the cost.

Did anybody see the story a couple weeks ago about the Saudis cutting production? They cut production by 300K barrels/day in AUGUST and nobody noticed until they announced it in November. Tells you a little something about the supply and demand model in the world oil market. Speculation drove the price. Those bastards are getting theirs now.
 
What will be interesting - at least around here - is all our Marina's fill up the tanks before they close for the winter (end of October). So they are all filled up at 4 buck / gallon gas / diesel. What are they going to do? Sell it at a loss - or just take a long time to sell it off?? It would be a big loss for them...but if they don't - it will take forever to sell it!
 
Cuttin' Edge said:
What will be interesting - at least around here - is all our Marina's fill up the tanks before they close for the winter (end of October). So they are all filled up at 4 buck / gallon gas / diesel. What are they going to do? Sell it at a loss - or just take a long time to sell it off?? It would be a big loss for them...but if they don't - it will take forever to sell it!
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The marina we left did exactly this. I negotiated and got him to reduce his price knowing he would be sitting on the fuel for a while...never hurts to ask.
 
rondds said:
You're right! You inspired me to pull out my last 3 years of Nat Gas bills and the friggin multiplier used is the highest ever, despite the fact that natural gas is trading at less than $6/MMBtu. I remember at it's peak (in the summer) it was close to $14. What gives there?

http://www.wtrg.com/daily/gasprice.html
Click to expand...

I got out of the natural gas deal when I built the house we are in now. Seems like the industry was trying to get everyone to switch to natural gas in the 80's and 90's only to jack the price up and screw em over. The only things I have that are natural gas are the stove and the hot water. The hot water only runs on gas in the winter. I put in a geothermal system for heating and cooling (Waterfurnace) and my average electric bill for lights, heat, AC, way too many computers and TVs (with the kids) runs about $0.06 per square foot per month... plus I get free hot water in the spring/summer/fall.

If the government was serious about getting "energy independence", they would really promote this and give some big tax credits/loans for people to retrofit their houses/businesses to geothermal. Heck... we basically have that type of system on our boats with the Cruisair setups and it works just fine.

Now that oil is cheap again, I'm sure the politicians won't be able to see 3 inches into the future.
 
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Tim, I agree with you on the speculation. Production costs are ~$60/BBL on a world-wide average. When the financial troubles meant the speculators couldn't get backing for their trades, the bottom fell out of the price. Demand has been getting less for a year, it was only when the speculation stopped in late summer that the prices of crude began to fall.
 
Four Suns said:
Now that oil is cheap again, I'm sure the politicians won't be able to see 3 inches into the future.
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By this you are implying that they actually could see 3 inches into the future when oil was $140/barrel?
 
I've decided that i'm going to run everything off of those small propane canisters and install a magma grill in my apt. They last forever.
 
Four Suns said:
I got out of the natural gas deal when I built the house we are in now. Seems like the industry was trying to get everyone to switch to natural gas in the 80's and 90's only to jack the price up and screw em over. The only things I have that are natural gas are the stove and the hot water. The hot water only runs on gas in the winter. I put in a geothermal system for heating and cooling (Waterfurnace) and my average electric bill for lights, heat, AC, way too many computers and TVs (with the kids) runs about $0.06 per square foot per month... plus I get free hot water in the spring/summer/fall.

If the government was serious about getting "energy independence", they would really promote this and give some big tax credits/loans for people to retrofit their houses/businesses to geothermal. Heck... we basically have that type of system on our boats with the Cruisair setups and it works just fine.

Now that oil is cheap again, I'm sure the politicians won't be able to see 3 inches into the future.
Click to expand...


They wanted to bring gas down our street and said forget it!

I heat with wood!
 
San Freakcisco has "NO BURN" days. I heard this woman on the Michael Savage show, who was from some dept of whatever in SF who goes around and writes summonses if they catch you using a fireplace on a "no burn" day. She said there are currenly only abt 20 such days per year and it's based on weather and prevailing winds, but you KNOW it's just a way for damn tree huggers to get their foot in the door. What woody says above is correct. Either that OR they'll force us to buy some $1500 gadget to cleanse the air as it exits the flue, or start making you get a permit to burn wood to help redistribute the wealth. ALL THIS SICKENS ME TO NO END!!!!
 
fwebster said:
Oil closed @ $45 and change today.......the price drop is a product of overall economic conditions. Although analysists predict gasoline to be under $1/gal next year.....
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Keep in mind these are the same idiots who were predicting $200/barrel oil and $15/gallon gas. Its anyone's guess what we will be paying next year. Probably not $4.00/gallon.
 
Yeah, but you have wonderful socialized medicine! And if you make $52000 you're in the 40% tax bracket?? That cant be true, can it? But it's not so bad here in the states! We've got higher gas prices & higher taxes to look forward to, as well as a leader that will make our healthcare system a "right" (translation: the government will administer it, run it, destroy it and make the working people pay for it). They say that Europe leads the way![/quote]


I think at todays exchange rate its 40% after about $60000, what % would you pay in USA??

We in the UK seem to pay more than everyone else anyway, especially compared to main land Europe.
 
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