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08-04-2008, 06:49 AM
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#81
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Montana Master
Join Date: Mar 2007
Location:
Posts: 2,156
M.O.C. #6920
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As part of the discussion, there is current speculation that because China is shutting down many industrial areas that rely on oil during the Olympics, oil demand will decrease. The shutdowns are occurring to reduce pollution during the Olympics. China has also stopped contributing to their oil reserve for an indefinite period, not Olympic related. Price in near future may perhaps drop below $120/barrel causing further gas pump decline. The Fall Rally may have additional "sign-ups" with further diesel price relief!!! Dennis
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08-04-2008, 08:20 AM
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#82
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Montana Master
Join Date: Jan 2005
Location: North Ridgeville
Posts: 20,229
M.O.C. #2839
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It may drop to around the 120.00 mark today.. A of speculators and fund managers took a huge hit in Aug.Millions maybe billions of $ were lost. Since there has been a steady decline since then it would appear that the losses were indeed heavy. Also the economic effect of the high energy prices is now beginning to take full effect. Some analyst see oil at 70/80 $ per bbl in the next couple of months. It is amusing to see both parties scrambling to change their positions on drillig, etc. 4.679 diesel (todays price) is not doing us much good.It needs to drop about another 1.50/170 before we can get fully back on the road.(last years price was 2.96)
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08-04-2008, 08:34 AM
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#83
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Montana Master
Join Date: Jul 2005
Location: Fort Myers
Posts: 5,933
M.O.C. #4282
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Price of diesel here is dropping - $4.58. And gas is $3.80. As Rich said, glad it's going down, but it has a LONG way to go to be helpful to many. This drop does not mean we need to ease up on the pressure on Congress to do something meaningful...
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08-04-2008, 08:48 AM
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#84
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Montana Master
Join Date: Jan 2007
Location: Lobelville
Posts: 2,128
M.O.C. #6650
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Cheapest fuel I have found is here in Memphis, I paid $4.33 per gal yesterday. But I'm sure you have seen the Storm in the Gulf. GBY....
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08-04-2008, 08:59 AM
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#85
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Montana Master
Join Date: Jul 2004
Location: Manhattan
Posts: 1,144
M.O.C. #1846
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What is that old saying 'Lull before the storm'.... We must not forget what this did to us because it isn't over yet. We may see the 70/80 per barrel price again, but what is going to happen December / January time frame. The American public has a very short memory, and is very tolerant of some things -- we used to decrie 70 cent gas, now we are talking 2.76 as good  .... As David said above -We can not let up on the pressure to our elected officials. We've got to see some material changes for the future of our nation, and of ourselves.
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08-04-2008, 10:00 AM
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#86
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Montana Fan
Join Date: Dec 2005
Location: Grain valley
Posts: 356
M.O.C. #5098
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Just filled up with diesel. Price was $4.29 just east of KC.
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08-04-2008, 03:37 PM
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#87
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Montana Fan
Join Date: Oct 2005
Location: Crown Point
Posts: 382
M.O.C. #4726
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NW Indiana 4.27 diesel. almost filled the tank for 100.
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08-05-2008, 05:20 AM
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#88
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Montana Master
Join Date: Sep 2007
Location: Texas City
Posts: 5,736
M.O.C. #7673
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And I thought I did good yesterday at $4.49.
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08-05-2008, 06:14 AM
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#89
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Montana Master
Join Date: Mar 2007
Location:
Posts: 2,156
M.O.C. #6920
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Oil is at or below $118 at midday today.
Could see a day's finish @ $115!!! Dennis
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08-05-2008, 09:53 AM
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#90
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Montana Master
Join Date: Feb 2004
Location: Cumming
Posts: 2,820
M.O.C. #919
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I've got a little less than a quarter tank left. I'm gon'na hold off on filling up again until the prices drop even more. Previously, I was keeping it full to avoid the next price increase.
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08-05-2008, 11:23 AM
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#91
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Montana Master
Join Date: Jan 2005
Location: Cooper
Posts: 1,230
M.O.C. #3029
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Analysts predict that if price falls below a technical level of $117 tomorrow it could go all the way to $100 in the next couple weeks. Who knows?????
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08-05-2008, 12:47 PM
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#92
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Montana Master
Join Date: Oct 2006
Location: _
Posts: 5,238
M.O.C. #6337
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Hey, if we are praying for $100.
what say we do more praying and shoot for, ohhhhhh $70.??
Are we dreamers or what??
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08-05-2008, 02:28 PM
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#93
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Montana Master
Join Date: Jan 2005
Location: North Ridgeville
Posts: 20,229
M.O.C. #2839
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Many analyst are predicting that oil will fall to 60/80 dollars per bbl over the next few months. The market has been artificially inflated by greedy speculators who did not know when to quit and are now paying the price....We have yet to feel the full fallout as fund managers who speculated with our retirement and 401K funds lost millions so we will pay the price for their greed. We are just now feeling the full impact of the economic disaster they brought upon this country and it will be many months before we start to dig our way out of the mess..if we can.. Folks who have lost everything will never fully recover..and the folks who caused it will go free and no doubt be bailed out by the governmnet.
One year ago oil was at about 70.00 per bbl....
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08-05-2008, 02:59 PM
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#94
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Montana Master
Join Date: Nov 2005
Location: cedar rapids
Posts: 703
M.O.C. #4962
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Boy,I sure agree with that Rich. Very true words.
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08-05-2008, 04:40 PM
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#95
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Montana Master
Join Date: Jul 2005
Location: Fort Myers
Posts: 5,933
M.O.C. #4282
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And the govt oversight agencies turned a blind eye, which really upsets me the worst. Sometimes I fell like us consumers are like "fish in a barrel".
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