$5 Gas On The Way

[Locutus]

West Texas Intermediate and Brent crudes charted the biggest weekly gains this year as Islamist fighters extended their advance in Iraq, triggering concern of a return to civil war. Futures in New York climbed 4.1 percent this week while they added 4.4 percent in London. Government forces in Iraq, OPEC’s second-biggest oil producer, are seeking to dislodge Islamist militants from cities north of Baghdad after they overran army positions in Mosul this week. U.S. President Barack Obama said yesterday he won’t rule out using airstrikes to help the government.

“Prices have jumped to nine-month highs as the upsurge of violence in Iraq has raised additional risk of supply disruption,” said Gene McGillian, an analyst and broker at Tradition Energy in Stamford, Connecticut. “The situation in Iraq is going to continue to guide the market for a while.”

WTI for July delivery rose 38 cents today, or 0.4 percent, to settle at $106.91 a barrel on the New York Mercantile Exchange. The volume of all futures traded was 42 percent higher than the 100-day average.

Brent for July settlement, which expires today, increased 39 cents to $113.41 a barrel on the London-based ICE Futures Europe exchange. The August contract climbed 4 cents to $112.46. Volumes were 48 percent above the 100-day average.


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http://wealthydebates.com/5-gas-way-crude-biggest-weekly-gain/

 

[Walter]

It's what BHO wants, otherwise he'd open up federal lands for drilling.

 

[taxslave]

Depending on third world pissants for vital commodities has been a shortsighted and expensive move for NOrth America.

 

[petros]

That's not why oil is going up.

 

[B00Mer]

That's not why oil is going up.

You keep saying it.. but nobody is listening?? LOL

 

[petros]

You keep saying it.. but nobody is listening?? LOL

Let them believe it's a Muzzie boogieman in the closet for all I care. It's like Santa Clause for adults.

If you don't clean you're room I'm writing Al Qaeda a letter letting them know you're a bad boy.

 

[lone wolf]

$5.00/gallon gas would be cheap. At $1.40 /litre you're already paying $6.30 a gallon - REAL gallons, not those ¾-scale American ones

 

[Count_Lothian]

$5.00/gallon gas would be cheap. At $1.40 /litre you're already paying $6.30 a gallon - REAL gallons, not those ¾-scale American ones

Gas is far cheaper State Side.
For some odd reason the powers to be axed most refineries in Canada, causing us to ship oil south and buy back gas.

 

[IdRatherBeSkiing]

Gas is far cheaper State Side.
For some odd reason the powers to be axed most refineries in Canada, causing us to ship oil south and buy back gas.

That and plenty of taxes on both provincial and federal level.

 

[taxslave]

That and plenty of taxes on both provincial and federal level.

Don't forget the environmental laws and never never permitting rules.

 

[petros]

Back in the day when SK was still bigger than AB Tommy Douglas f-cked up big time by trying to make Provincial oil a Crown and paying off all debt owed to Rockefeller's banks. Rockefeller pulled Imperial oil out of SK. They closed the refineries in Regina and Moose Jaw capped wells and piped what they could to Montana and headed into AB. Shell did the samething. Capped wells and went to AB. Tommy retaliated by banning oil extraction in the potash belt. It set SK 30 behind of AB and has as much oil as AB. Once the potash above the oil is sold off the oil below the mines will be tapped.

That maneuver f-cked SK and Canada up bad.

Potash is only now hitting Tommy's dream numbers from fifty some years ago and oil down to being 20 years behind AB.

 

[darkbeaver]

Fuel sales are way down, car sales are way down, forget oil for the time being.

 

[bill barilko]

That's not why oil is going up.

This from the same poster who predicted gasoline under $1.00/litre last year.

Simply the same blasted know nothing nonsense over & over & over.

 

[petros]

You were hoping your bus pass wouldn't go up?

 

[bill barilko]

You were hoping your bus pass wouldn't go up?

Ad hominem attack Noted as per SOP.

 

[Goober]

Already over 6 bucks on Vancouver Island.
1.50 or so a liter.
So more money for Alberta.
That is a good thing.

Gas is far cheaper State Side.
For some odd reason the powers to be axed most refineries in Canada, causing us to ship oil south and buy back gas.

The US imports gasoline from Europe.

 

[damngrumpy]

The reason the gas keeps going up and down is to determine what the final
gouging price will be. Speculation is the only reason right now and fear is the
lever. At some point the customer will have had enough. The other side of it
is this if the companies keeping doing what they are doing they will touch off a
depression that will have far more serious problems for us all

 

[Goober]

The reason the gas keeps going up and down is to determine what the final
gouging price will be. Speculation is the only reason right now and fear is the
lever. At some point the customer will have had enough. The other side of it
is this if the companies keeping doing what they are doing they will touch off a
depression that will have far more serious problems for us all

Check Euro prices for gas & diesel.
We moved west in 96 and diesel, which I used in my Jetta was about 10 to 2o cents less.

 

[Ludlow]

Well I guess I'll have to buy me a bicycle down at the Walmart and ride it to work soon. I sure hope the youngsters will show some compassion for an old man and not throw beer bottles at me.

 

[taxslave]

Already over 6 bucks on Vancouver Island.
1.50 or so a liter.
So more money for Alberta.
That is a good thing.



The US imports gasoline from Europe.

$1.299 on Vancouver Island. Best price I found anyway.
Oddly enough gas in Vancouver is more expensive than Kitamat.