Tag: gas prices

Oil Watch – 1/14/08 (UPDATED)

Yesterday’s close on the near term contract was $38.60, still a smidgen away from the pre-Christmas low of $35.13.

February '09 Crude

This weekend I was hearing rumblings regarding gas prices heading back up, although I haven’t personally seen much difference since I last filled up. There’s a price in which it doesn’t pay to explore – a price that’s already being broken (hence so few words lately about opening up the continental shelf and ANWR). But, there’s also a price in which it won’t make much sense to pump anymore.

What’s that price, and what will the equilibrium point be thereafter?

UPDATE: 1/15 – Doesn’t look like anyone has to worry about $35 being a bottom, since a new low of $34.65 was hit this morning.

Post-Thanksgiving things to be thankful for

A list not worth saving

  • I’m thankful one of my guests yesterday was an attorney.  He’s already threatened to sue me over my cooking and I need a good lawsuit to keep my mind off work this holiday season.
  • US investors should be thankful for the SEC. They’re keeping their priorities straight.
  • The fishing industry should be thankful that nobody weighed this roosterfish.  They’re gonna save a lot of endorsement money as a result.
  • Retailers should be thankful gas prices are plummeting.  Consumer confidence is on the rise, just in time for the holidays.
  • Social network addicts should be thankful they have so many online friends, and that getting rid of them is such a good laugh for the rest of us.
  • And…

  • Those that have written off the mainstream media and its associated lackeys as toddlers in constant need of a new binky should be thankful that there are still some real grownups around.
  • Adieu.

    Crude oil off 67%

    The Jan ’09 contract hit a high of $148.35 on July 11th. Just quoted at $48.60, it’s making new lows everyday.

    Love thy Barchart

    Over the summer the media was SCREAMING about high gas prices, and auto dealers were flooded with oversized trade-ins at rock bottom prices. Oil executives were marched into Congress at gunpoint to explain.

    Call it an oil bubble, or the Yaris-Mini-Smart-Rio-Fit-Elantra-Aveo-Versa-SX4-Astra bubble. Either way, the media is now decidedly mum.

    Boycott the next ‘Talk Like A Pirate Day’ (UPDATED)

    Even though the summer driving season (and the better part of the fly fishing season) is over, I’m happy with gas prices where they are.

    Damn pirates could screw that up.

    UPDATE: More. Traders don’t seem to be worried about it though – January ’09 crude hit a year low of $50.21 as of update time.

    UPDATE 2: Make that $48.52.

    Brace yourself (be)for(e) “Nozzle Rage”