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Topic: Fill up your autos NOW!  (Read 2743 times)

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Offline Jack Morris

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Fill up your autos NOW!
« on: August 29, 2005, 10:41:51 am »
http://biz.yahoo.com/ap/050829/hurricane_katrina_oil.html?.v=18

It's going to get tight in about two days. Already the effects are showing in petroleum related stocks, they are ZOOMING.
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Offline Jack Morris

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Re: Fill up your autos NOW!
« Reply #1 on: August 29, 2005, 10:42:45 am »
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Offline J. Carney

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Re: Fill up your autos NOW!
« Reply #2 on: August 29, 2005, 10:44:47 am »
Uhm, Jack... if people would calm down and stop trying to cause panic, the prices would stay a little lower- not much, maybe a dime a gallon, but it would help some.
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Offline Jack Morris

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Re: Fill up your autos NOW!
« Reply #3 on: August 29, 2005, 10:48:23 am »
Supply and demand. The effects are anticipated earlier now because last year it took a while to figure out Ivan and the real damage it did. People are smarter now. Already tankers are diverted, and that costs money, the increase gets passed on to the refiner, and you know how good they are at gouging SOMETIMES, but not when your facilities are damaged.
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Offline J. Carney

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Re: Fill up your autos NOW!
« Reply #4 on: August 29, 2005, 11:09:59 am »
Quote from: Jack Morris on August 29, 2005, 10:48:23 am
Supply and demand. The effects are anticipated earlier now because last year it took a while to figure out Ivan and the real damage it did. People are smarter now. Already tankers are diverted, and that costs money, the increase gets passed on to the refiner, and you know how good they are at gouging SOMETIMES, but not when your facilities are damaged.

Smarter is a matter of opinion. I know what Ivan did- my cousin was on the rig that it damaged... well, he was off it at the time, but it was his rig. ;) In fact, that all the men on that side of the family have ALL worked on rigs for at least 5 years each, save one cousin.

Speculators COULD help the market by not driving prices up so much in a panic, though. Wait and see how thins ACTUALLY go. THEN raise the prices, but don't do it on a scare.
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Everything I did in my life that was worthwhile I caught hell for. - Earl Warron

The advantages of living in the Heart of Dixie- low cost of living, peace and quiet and a conservative majority. For some reason I think that the first two items have a lot to do with the presence of the last one.

"Flag of Alabama I salute thee. To thee I pledge my allegiance, my service, and my life."
   

Offline Dracho

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Re: Fill up your autos NOW!
« Reply #5 on: August 29, 2005, 02:19:49 pm »
Anyone want to bet the Feds have put in price controls before the end of September?


Okay.. here's another question..or scenario..

We (the West) have lots of cash and capital.

China does not (yet).

Who is the suddenly soaring price of fuel going to hurt more?  Will it suddenly siphon all of the cash out of their economy?  Could the sudden loss of large cash reserves actually crash the Chinese economy before it really takes off? Doesn't this hurt their competetive advantage because suddenly locally made goods might be competetive when shipping costs weigh in?

Is this intentionally being done to put the brakes on Chinese economic expansion?  IIRC the cost of fuel always pounded Japanese goods much more so that American goods.
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Offline J. Carney

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Re: Fill up your autos NOW!
« Reply #6 on: August 29, 2005, 02:22:43 pm »
Quote from: Dracho on August 29, 2005, 02:19:49 pm
Is this intentionally being done to put the brakes on Chinese economic expansion?  IIRC the cost of fuel always pounded Japanese goods much more so that American goods.

Dracho, you MIGHT be on to something here... not a bad line of thought.
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Everything I did in my life that was worthwhile I caught hell for. - Earl Warron

The advantages of living in the Heart of Dixie- low cost of living, peace and quiet and a conservative majority. For some reason I think that the first two items have a lot to do with the presence of the last one.

"Flag of Alabama I salute thee. To thee I pledge my allegiance, my service, and my life."
   

Offline Jack Morris

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Re: Fill up your autos NOW!
« Reply #7 on: August 29, 2005, 02:30:41 pm »
Second that J.C., it makes sense as we have not gotten near the 1980 level if adjusted for today's dollars and inflation. Back then it was the equivalent of $90 a barrel! Now throw in the fact that Bush and company are hitting China on their outright manipulation of their currency and exports, it does seem plausible. Economic warfare at it's finest.
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Offline Jack Morris

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Re: Fill up your autos NOW!
« Reply #8 on: August 30, 2005, 10:07:07 am »
Woke up this a.m., and gas went up 12 cents a gallon here in Austin! Anybody else see that kind of increase?
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Offline E_Look

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Re: Fill up your autos NOW!
« Reply #9 on: August 30, 2005, 10:46:59 am »
I didn't pay attention but I *THINK* I did NOT see any real increases here near NYC.
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Offline Dracho

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Re: Fill up your autos NOW!
« Reply #10 on: August 30, 2005, 10:53:13 am »
We went from $2.59 to $2.76 overnight..
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Offline Jack Morris

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Re: Fill up your autos NOW!
« Reply #11 on: August 30, 2005, 11:20:12 am »
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Offline Jack Morris

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Re: Fill up your autos NOW!
« Reply #12 on: August 30, 2005, 11:27:05 am »
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Offline Sten

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Re: Fill up your autos NOW!
« Reply #13 on: September 01, 2005, 08:34:39 am »
Try from 2.99 yesterday to 3.59 today regular Unleaded
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Offline Iceman

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Re: Fill up your autos NOW!
« Reply #14 on: September 01, 2005, 09:33:46 am »
a 60 cent jump? That's absurd!
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Offline Jack Morris

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Re: Fill up your autos NOW!
« Reply #15 on: September 01, 2005, 03:59:03 pm »
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Offline Commander Maxillius

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Re: Fill up your autos NOW!
« Reply #16 on: September 01, 2005, 09:29:26 pm »
Quote from: Sten on September 01, 2005, 08:34:39 am
Try from 2.99 yesterday to 3.59 today regular Unleaded

Holy Christ!  Where you from, Sten?  Great Lakes area saw 2.70-ish to a uniform-across-the-area $3.19 jump in a sngle day.
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Offline E_Look

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Re: Fill up your autos NOW!
« Reply #17 on: September 01, 2005, 09:41:16 pm »
Quote from: E_Look NCC-9091 on August 30, 2005, 10:46:59 am
I didn't pay attention but I *THINK* I did NOT see any real increases here near NYC.

Now I do.  It's as bad as everyone else's.
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el-Karnak

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Re: Fill up your autos NOW!
« Reply #18 on: September 02, 2005, 08:22:56 am »
He (sic)The President(sic) asked Americans to be prudent in their consumption of energy but called the hurricane a “temporary disruption” to gasoline supplies. “Don’t buy gas if you don’t need it,” the president said.

source: http://www.msnbc.msn.com/id/9157866/

If you were planning a holiday road trip this labor weekend, see if you can make alternative plans.

This disaster is the real deal (ie. people are dying in New Orleans), and we have to take it seriously if we want to get through this w/o major economic impact.  In Atlanta, GA,  I know lotsa a people at work that are suddenly taking mass transit that have never done so before E-V-E-R.  It's all about doing your part.  The gas pipelines from the Gulf Coast are only up at partial (ie. 50% at best) capacity even 5 days after the hurricane hit.

There's also www.redcross.org if  can spare a few to donate.

Thanks.
« Last Edit: September 02, 2005, 09:40:02 am by el-Karnak »
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Offline Dracho

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Re: Fill up your autos NOW!
« Reply #19 on: September 02, 2005, 08:46:28 am »
Two days ago gas was $2.73 here in Tulsa.  Yesterday it went to $2.99.  This morning it was $3.19.
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Offline Sten

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Re: Fill up your autos NOW!
« Reply #20 on: September 02, 2005, 10:27:46 am »
Western North Carolina.

Looks like people are making a run on gasoline for the weekend.

Noticed on my drive into work today the majority of gas stations had their pumps closed.

Drove past maybe 10 stations 2 had pumps not bagged.

Kind of normal here it hits the fan and people run out and fill up milk jugs if they got em or any other containers.
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Offline Dracho

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Re: Fill up your autos NOW!
« Reply #21 on: September 02, 2005, 09:04:18 pm »
One of the stations here dropped theirs today from $3.19 to $3.05.  Maybe it's the start of a trend.
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Offline E_Look

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Re: Fill up your autos NOW!
« Reply #22 on: September 02, 2005, 10:38:57 pm »
Boy, I hope so.
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Offline Dash Jones

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Re: Fill up your autos NOW!
« Reply #23 on: September 02, 2005, 10:45:37 pm »
Wow, great prediction Jack!  Wish I had read it a few days ago.  But it seems you were right on the money with that one.

I'm not certain this would be a ploy to try to destroy the Chinese economy.  If it is, expect gas prices to eventually reach $5+ in the US to even $10+ in the US and have a ripple effect to the rest of the world effectively making their prices even higher (which for those in the British Isles would royally stink).
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Offline SSCF-Patterson

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Re: Fill up your autos NOW!
« Reply #24 on: September 02, 2005, 10:46:02 pm »
Well,

If you curious, up here in Ontario gas in southern portion is running approximately  $5.32/gallon, or a 1.32/liter  :'( . I don't know what the price is in northern Ontario, but usually it is higher. Anybody from Wawa or Kap on the board to give us an update?
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Offline Jack Morris

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Re: Fill up your autos NOW!
« Reply #25 on: September 06, 2005, 06:16:32 am »
Thanks for the compliment Dash, but it's not rocket science, as many investors know by the frenzied buying of oil futures and refinery stocks last week. Hurricane season is a boom for energy related and petroleum maritime stocks. I found that out last year when I watched Ivan churn through America's Gulf oil patch.

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