Crude at all time record HIGH - Page 2 - Montana Owners Club

richfaa · 04-20-2006, 05:02 AM

Remember the price of Oil, a commodity, is set on the commodities market. You need to understand how the commodities market works and WHO buys there. The administrators of My pension fund, your pension fund, your 401K, Mutual fund.You or I can buy there. It is a highly speculative market that is moved by rumor and innuendo. A storm off the Gulf coast and what it MAY do will drive up the price of oil on the market. The price of Oil in the USA is set right here in the good old USA. Do a google on the commodities market. If you do not know how it works..it will be a education.

dsprik · 04-20-2006, 05:19 AM

I agree Virg. I'm an old oilfield engineer. I made very good money also from the oil patch. Even invested in some wells. I have already run into some companies that have tried an end run around Sarbanes-Oxley. Unbelievable.

Rich, I understand that traders in Chicago are running the futures up and down, but Exxon isn't just sitting their saying, "Well, we really don't have anything to do with our profit... We depend on those traders in Chicago to determine our profit and loss statements." Again, I'm not against profit. It just that once you get used to having a lot of money coming in, it's really hard to change that momentum. Look at Congress...

Virgil · 04-20-2006, 06:41 AM

I give up. Complain, whine and keep filling your vehicles. The world goes on and oil prices will continue to rise.

richfaa · 04-20-2006, 07:13 AM

Oh, Exxon and the rest of the oil companies are in the commodities market, Not by name, but they are there.When the family was in the business we bought the commodity with "A" company(us) the sold it to "B" company (us) then transported it via "C" Company (US who sold it to (D) company (US) who sold it to (C) company the distributors (US) who sold it to the stores who sold it to you. All profit allong the way all the companies were (us) That's how it works. There is no doubt in my mind that the oil companies are using the Commodities market to inflate the price of oil by selling it to themselves, via different company names. That's how the system works.Profit is what it is all about..Greed is something else. Note that the market is way down today as those who bought at 68,69,70 are selling before the delivery date. That is called taking profit.

And I should talk ..I had a bunch of Kerr Magee (kmg) and you can see it in the Truck and 3400////

dsprik · 04-20-2006, 08:07 AM

Sorry, Virg... I'll stop whining. Funny, I really don't complain about fuel prices. When my wife says something about them, I just tell her, it doesn't matter... whatever it is, we need it anyway. Just won't do any unecessary driving. We all seem to adjust.

I think all these things have a tendency to work themselves out.

I also remember one financial whiz businessman at a seminar say once, "If a $.50 increase in gas prices destroys you financially, then your personal finances are not were they need to be. You need a better plan for managing your finances."

sreigle · 04-20-2006, 11:42 AM

We do about 36,000 miles or more per year with probably close to half of that at the lower towing mileage. So, fuel is a big portion of our budget. Thus, fuel prices are something I am concerned about.

This was in my daily Yahoo Finance email today.
----
Oil prices briefly rose to a record high above $72 a barrel Thursday, then declined as traders locked in profits from recent rallies and Royal Dutch Shell said a key oil platform damaged by Hurricane Katrina would be producing at pre-Katrina levels by the end of June.
----
I'll bet we don't see gas and diesel prices decline this week because of that, though. Or even next month. Or June.

old turbo · 04-20-2006, 12:08 PM

This country needs to pursue ethanol and bio-diesel production. We as private sector people need to buy into his type of fuel for our vehicles,through investment or to just use the products. I was sad to see that we only have one company that puts up ethanol plants and they are booked up to 2008. I beleive it is the same company that builds bio-diesel plants also. I like the idea of giving my money to an American farmer, for corn and soybeans, than a foreign country for crude oil ,and a greedy oil executive who makes $40,000 an hour.

Montana Sky · 04-20-2006, 12:11 PM

I am still waiting for my oil stock to reflect these "record profits" everyone is talking about. Anyone have an idea of when the stock is going to climb?? I have a craving to buy more oil stock and want to get in on all those "PROFITS."

richfaa · 04-20-2006, 01:16 PM

I am not knocking profits. The whole subject , Oil Compnay profits , OPEC, ECT is way to complex a issue for me to completely understand..How-some -ever. I mentioned I had some Kerr-magee( not any more) (kmg) it closed down today at 104.40. 52 week low of 68.24.Look at the 2 year chart 47.00 to 104.40. If I told you what I paid for it many years ago you would choke. Oil company stock is making big money..And..they are not blameless in what is going on with high oil prices.Big companies making big money at the expense of the little guy..It's the American way...

dsprik · 04-21-2006, 07:33 AM

If anyone is interested in this sort of stuff, I found the following website. When it comes up, go to the graph's pulldown menu and change it to "1 Minute (Intraday)". 30 minute delay, but interesting to watch - for some.

http://www.nymex.com/lsco_fut_condet...r=6&currPrev=C

*On Edit~ OK... you might not want to look now... Over $1.00 up...

dsprik · 04-21-2006, 09:21 AM

OK, up $1.52 for today to $75.21. YEAAA!!! (for Exxon). That should boost almost everyone in the country over $3.00. I know some have been over already. This ought to catch the rest of them up to that level.

dsprik · 04-21-2006, 09:35 AM

I sure hope that the Budweiser Farms have put up extra security around their horse barns... Why, with a little bit of grass (not GAS), one of those babies can go all day!

Still wondering if you could hook up a team of horses to a wagon (short bed would need a slider) to pull a Monty... Probably could. Where's Dave (Dave e Victoria)?

(Oops... sorry. Light Crude up $1.62 to $75.30. My mistake...)

*On Edit~ Sorry forgot to explain the need for a slider on the shortbed wagon: Don't want to knock the wife off the seat when taking a sharp turn...

Some of you are visualizing this aren't you... With some of you, it's your husbands who are getting "dented".

richfaa · 04-21-2006, 11:23 AM

We are no longer worried about fuel prices. when fuel hits 4.00 per gallon we are out of the camping business. We will enjoy our Montana in the driveway and will be looking for a permanate site at one of the nearby campgrounds.

dsprik · 04-21-2006, 11:28 AM

Sounds like a good plan... only I won't have a driveway. Probably nearest driveway that will let me park for $150/month. I'll pay for the electric service to be run - and the meter.

If people stop traveling as much, some of these parks may lower their fees to entice campers into their increasing empty sites - even though their energy cost will be climbing. It's either that, or go out of business.

Dave e Victoria · 04-21-2006, 02:13 PM

Dave,
I don't think horses are the answer. I once heard that if horses had continued to increase in population at the rate they were in 1915, all of our streets, highways and presumably freeways would be ten feet deep in ................ well, you know.

dsprik · 04-21-2006, 02:17 PM

Ever been to Mackinaw Island??? Whole new industry... picking that "stuff" up! Our econony could actually grow...

richfaa · 04-21-2006, 03:03 PM

Ok..here is a good one..How many horses (real ones) would it take to pull your Camper.and how would you hook up a fifth wheel to a team of horses.

DiananColin · 04-21-2006, 03:05 PM

Now what really hurts is we in Canada are oil producers, yet our gas today was $1.09 a litre and diesel is only a little less than that. Of course a very large portion of that is Excise Tax, Provincial Sales Tax and on top of that Goods and Services Tax, and we wonder why the Government does not step in to help, they are making too much money. Diana

dsprik · 04-21-2006, 04:12 PM

Quote:

quote:Originally posted by richfaa

Ok..here is a good one..How many horses (real ones) would it take to pull your Camper.and how would you hook up a fifth wheel to a team of horses.

Come on, Dave... That what I wanted you to take a shot at. I think they could do it. Maybe we need some input from someone who has some experience with work horses.

*On Edit~ Diana, are you sure they don't have a "Health care" tax in there, too...

dsprik · 04-21-2006, 04:24 PM

Diana, that comes out to $4.13/gal (US). That's over Rich's "Magic Number". And I thought our State taxes were bad on fuel here.

Wouldn't it be nice that when you bought your fuel, you just paid for the FUEL... not for someone's food stamps? And it would also be nice when you paid your cell phone bill, if you could pay JUST for your cell phone charges... instead of for a library fee? (Wow, I could really get going on this... maybe I'll make a list.) Not that these aren't good programs, but I would like the opportunity to just pay for them SEPERATELY. Worse than a bill going through Congress...

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