Venturous Randy Posted February 23, 2011 Share #1 Posted February 23, 2011 We just as well get ready because we are going to be paying some record prices for gas this year. It looks like this deal in Libya is going to have more impact than the one in Egypt. And, there is no telling how much oil prices will go up when the people of Saudi Arabia decide that don't want to be ruled by a monarchy any longer. RandyA Link to comment Share on other sites More sharing options...
Guest Posted February 23, 2011 Share #2 Posted February 23, 2011 Some of the gas stations here have already shot up their price in anticipation of rising oil prices. Guess they figured the gas already here in storage didnt count. Link to comment Share on other sites More sharing options...
BoomerCPO Posted February 23, 2011 Share #3 Posted February 23, 2011 Spring and Summer are just around the corner. The Oil Companies stick it to everyone and have been doing so since the oil embargo in the 70's. Boomer....who has 2 words for Oil Companies and it is not Merry Christmas!! Link to comment Share on other sites More sharing options...
sgn Posted February 23, 2011 Share #4 Posted February 23, 2011 With the way gas is going up there will be even more motorcycles on the road, many of these will be "new" riders who have never had the "thrill" of a machine that has the power to weight ratio of a motorcycle and (while may be a few) will present to the non-motorcycle public an image that is not a true representation of most motorcyclist. So take a "newbie" under your "wings" and encourage them to be safe, sensible and seen. Just my random thoughts from a random mind. Link to comment Share on other sites More sharing options...
E-Fishin-C Posted February 23, 2011 Share #5 Posted February 23, 2011 With the conversion....... Gas up here is Now $5.68 Canadian Link to comment Share on other sites More sharing options...
Dave77459 Posted February 23, 2011 Share #6 Posted February 23, 2011 As I see it, there are a variety of reasons for price spikes. The obvious is Libya, but not because it produces oil. It is a sign of continued unrest, which could spread to real producing countries. Saudi Arabia, who has handed out money these past few days to quell the public. Iran, who has a strong base for revolt. Who else? The prices going up now are because stations have to have money in hand to buy future gas. It's not like they buy it on consignment or using credit cards. If the price goes up and they haven't the cash to buy it... anyways, they raise prices to afford to buy future gas. The "excess profit" (if you believe in that sort of thing) is when they have raised prices and then the cost declines. Maybe then they can afford to clean the bathrooms. And then there is the Spring switchover to different blends. At that time, there is lost capacity in pipelines and refineries. Each state seems to have its own blend requirement, which reduces the economies of scale. And finally, there is a growing call among politicians to artificially increase costs in order to reduce demand. Of course, they also want to increase the revenue by adding more taxes. These ideas are becoming more mainstream. Be ready. Dave PS, I am neglecting the push by China and Russia to conduct oil business on a commodity basis rather than in Dollars. The use of USD for energy commerce has given us an inflationary hedge, and that might go away. The point is that gas prices are about more than oil company greed. If you think producers are to blame, I suggest you buy oil stocks and at least make money off it. Link to comment Share on other sites More sharing options...
flb_78 Posted February 23, 2011 Share #7 Posted February 23, 2011 http://www.eia.doe.gov/pub/oil_gas/petroleum/data_publications/company_level_imports/current/import.html We import most of our oil from Canada and Mexico. Link to comment Share on other sites More sharing options...
Bobby G Posted February 23, 2011 Share #8 Posted February 23, 2011 Most gas retailers earn net profit of less than .05 per gallon. Oil company's net ROI usually accounts for upwards of 40% of the retail sale price. And yes, it is a "futures" pricing game, and the future looks grim, at best. I personally think we're seriously headed for $4/gal+ by June here in the Southeast, and far more up north, and in CA. I agree that investment in oil stocks is a good idea right now, for sure, and most of the power sports OEM's will certainly benefit from any long term rise in gas prices as well. Scooter sales will spike first, then sport/hybrid bikes, then cruiser/touring bikes. The EV market will also see pretty big gains, and companies like E-Z-GO, Tomberlin and Club Car who heavily market their new street legal electric cars (LSV's) will also start to see more public acceptance of that type of alternative transportation in many urban markets. I think this upheaval in the middle east is just starting. Iran's provoking push through the Suez Canal, Egypt's new look, Lybia, the ongoing mess in Iraq and A-stan, other Muslim countries in turmoil in Africa and Micronesia, etc., it's all related. And it's not ending in my lifetime. If you're not ready, GET READY! And get your kids and grandkids dialed in on it too. Link to comment Share on other sites More sharing options...
FreezyRider Posted February 23, 2011 Share #9 Posted February 23, 2011 The driving factor in oil prices right now has very little to do with oil companies. SPECULATION is the boogy man here. Investors believe that the future price of oil will be more than it can be purchased for today, therefore they bid against each other to buy oil futures. Most of this activity is done not by wealthy individuals, but by fund managers and brokers. Are you investing in a mutual fund through your 401k or 403b? Then YOU are at fault (in a technical sense) for these price increases. Your fund managers are betting that they can make money for you (and for themselves too) by purchasing oil futures. The price is not set (other than a minimum, which doesn't fluctuate all that much) by the oil companies. But yeah, it's easy and popular to blame them. We all can "put a face" on the oil companies.....but the real trouble causers are the speculators. It ain't gonna get better anytime soon. Joe Link to comment Share on other sites More sharing options...
Aimhigh Posted February 23, 2011 Share #10 Posted February 23, 2011 I am hearing we can expect $5/gal before the summer is over. Sure hope that is wrong! Link to comment Share on other sites More sharing options...
flb_78 Posted February 23, 2011 Share #11 Posted February 23, 2011 The driving factor in oil prices right now has very little to do with oil companies. SPECULATION is the boogy man here. Investors believe that the future price of oil will be more than it can be purchased for today, therefore they bid against each other to buy oil futures. Most of this activity is done not by wealthy individuals, but by fund managers and brokers. Are you investing in a mutual fund through your 401k or 403b? Then YOU are at fault (in a technical sense) for these price increases. Your fund managers are betting that they can make money for you (and for themselves too) by purchasing oil futures. The price is not set (other than a minimum, which doesn't fluctuate all that much) by the oil companies. But yeah, it's easy and popular to blame them. We all can "put a face" on the oil companies.....but the real trouble causers are the speculators. It ain't gonna get better anytime soon. Joe You and your facts. Come on, really? It's so much easier to blame the big oil companies!! I mean the government and media have been doing it for years!! Link to comment Share on other sites More sharing options...
showmebob Posted February 23, 2011 Share #12 Posted February 23, 2011 The driving factor in oil prices right now has very little to do with oil companies. SPECULATION is the boogy man here. Investors believe that the future price of oil will be more than it can be purchased for today, therefore they bid against each other to buy oil futures. Most of this activity is done not by wealthy individuals, but by fund managers and brokers. Are you investing in a mutual fund through your 401k or 403b? Then YOU are at fault (in a technical sense) for these price increases. Your fund managers are betting that they can make money for you (and for themselves too) by purchasing oil futures. The price is not set (other than a minimum, which doesn't fluctuate all that much) by the oil companies. But yeah, it's easy and popular to blame them. We all can "put a face" on the oil companies.....but the real trouble causers are the speculators. It ain't gonna get better anytime soon. Joe You hit it right on the head, they create a shortage and the price goes up, the oil co. create a shortage and the price goes up, the gov. takes kick backs and the monster stays in control, we have enought oil in this country to be free from all outher countrys imports, the baken oil field in South dakota has enought oil for this country for 40 years, oil under the rocky moutains, the oil field that is east of prudo bay in alaska, the EPA is in control along with the oil co. The EPA is full of S**T and backed buy the big oil producers to keep the market under control. its like a snow ball rolling down hill its to big to stop it just keeps getting biger and biger, untill it hits bottem, invest, buy guns, bullits, water and food. Link to comment Share on other sites More sharing options...
BuddyRich Posted February 23, 2011 Share #13 Posted February 23, 2011 This thread is doomed Link to comment Share on other sites More sharing options...
MiCarl Posted February 23, 2011 Share #14 Posted February 23, 2011 I can see this going South so I want to get my in before it gets deleted. You hit it right on the head, they create a shortage and the price goes up, the oil co. create a shortage and the price goes up, the gov. takes kick backs and the monster stays in control, we have enought oil in this country to be free from all outher countrys imports, the baken oil field in South dakota has enought oil for this country for 40 years, oil under the rocky moutains, the oil field that is east of prudo bay in alaska, the EPA is in control along with the oil co. The EPA is full of S**T and backed buy the big oil producers to keep the market under control. its like a snow ball rolling down hill its to big to stop it just keeps getting biger and biger, untill it hits bottem, invest, buy guns, bullits, water and food. If I were Dictator of the U.S. I'd punch all those places full of holes and hook them to pipelines. I'd shut the valves and let the world know I'd sell all it wanted at $80/bbl. That'd pretty much cap the world oil price at $79.99. Link to comment Share on other sites More sharing options...
Redneck Posted February 23, 2011 Share #15 Posted February 23, 2011 I guess I did good I figured this was coming so I bought 3000 gallons of diesel 3 weeks ago. That should save me a few bucks this summer. Link to comment Share on other sites More sharing options...
elmicko Posted February 23, 2011 Share #16 Posted February 23, 2011 I guess I did good I figured this was coming so I bought 3000 gallons of diesel 3 weeks ago. That should save me a few bucks this summer. Where'd you get a diesel Venture???? Link to comment Share on other sites More sharing options...
showmebob Posted February 23, 2011 Share #17 Posted February 23, 2011 i knew we were in truble when wall mart starting selling gas, its all wall marts falt Link to comment Share on other sites More sharing options...
Eck Posted February 23, 2011 Share #18 Posted February 23, 2011 This thread is doomed :thumbsup2: Link to comment Share on other sites More sharing options...
Eck Posted February 23, 2011 Share #19 Posted February 23, 2011 Diesel....cant ride that RSV using that ........ I guess I did good I figured this was coming so I bought 3000 gallons of diesel 3 weeks ago. That should save me a few bucks this summer. Link to comment Share on other sites More sharing options...
bongobobny Posted February 23, 2011 Share #20 Posted February 23, 2011 Months ago I heard speculation of Gas at $4 a gallon by summer, but now yes, I forsee $5 a gallon! I may have to retire a little early to save gas... Link to comment Share on other sites More sharing options...
SC89Venture Posted February 23, 2011 Share #21 Posted February 23, 2011 Time to drill through the head of a caribou / polar bear to get to our oil here and quit importing altogether. If we just indicated we were going to start doing that, and building refineries, that would have the futures market more stable. Never happen with this administration. Link to comment Share on other sites More sharing options...
jmw Posted February 23, 2011 Share #22 Posted February 23, 2011 Drill baby drill!! Link to comment Share on other sites More sharing options...
showmebob Posted February 24, 2011 Share #23 Posted February 24, 2011 lots of jobs Link to comment Share on other sites More sharing options...
ashley9187 Posted February 24, 2011 Share #24 Posted February 24, 2011 By this summer I will paying as much to fill my 6 gal RSV, as it is now to fill my F150. I knew I was going to have to ride my bikes lot more often this summer and not just for pleasure. So, unless my wife is riding with me I will be riding my Roadstar more than the RSV. My F150 may go up on blocks. I can still go shopping on the RSV and buy a couple of hundred dollars worth of groceries with my trailer, even in bad weather. But I'd rather not. Rick A. Link to comment Share on other sites More sharing options...
Guest scarylarry Posted February 24, 2011 Share #25 Posted February 24, 2011 I do all my shopping on the bike and the Kroger here as a section for bikes only biker friendly store I have seen.. In the middle of 4 spots they have a pole in the ground and a sign mounted "bikes only" Bike sales surge big time here this happen to the point it got dangerous with so many Experience riders I just hope they learn from the past and take a MSF course.. Link to comment Share on other sites More sharing options...
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