How High Can Crude Go In Price?

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Postby Karlsweldt » Fri Apr 25, 2008 2:11 pm

And the British Pound was once at £2.80 per U.S. Dollar.

Sorry about that! :oops:
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Re: How High Can Crude Go In Price?

Postby tedybear » Tue Apr 29, 2008 1:21 pm

Karlsweldt wrote:Maybe it is time for someone to go to court for a 'show cause' order so those commodity traders can explain why the price is so outlandish!!
The world's economy is at stake!



Congrats Karl. At least someone understands who's ACTUALLY responsible for the true cost of a barrel of crude.

The falling dollar is not helping matters either---but the ones setting the prices? Big Surprise!!! It's not "Big Oil"!!! It's the traders on wall street biding up the price every time someone farts!

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Postby Karlsweldt » Tue Apr 29, 2008 2:29 pm

Also a very strange matter.. why the pump price will rise almost immediately after the price per barrel goes up, and yet may take 5 to 6 days to come back down, after the crude price has dropped?
Something is fishy.. and it isn't in the bait bucket!!
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Postby thomas_w_bowman » Wed Apr 30, 2008 8:05 pm

Actually in Minnesota we have a State Agency that daily sets the minimum 'legal' price for gasoline - it is supposedly to prevent gas stations from doing damage to each other or driving a little guy out of business by selling below 'cost' (actually cost plus a State determined profit).

But of all commoditys, it sems to jump up without much provocation and never really go back down...
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Postby kevinloh » Sat May 03, 2008 6:50 pm

Over here in Brunei Darussalam, we are an oil exporting country with which the large majority of Brunei's income is derived from the sales of oil and gas.

Over here the price of regular gasoline is Brunei Dollars $0.53/litre thats USD$0.38/litre and for diesel its Bruneian Dollars $0.32/litre or USD$0.23/litre taking into account the Bruneian$-US$ exchange rate.

In my opinion, Brunei has the lowest price of oil in the region, 4 times less than Singapore. In Brunei the number of cars per person ratio is very high it's almost unity. So for a family of 7, its very common to see 6 cars sometimes 8 cars in that particular family.

In Brunei, the government subsidizes the following for the general public:

Rice
Sugar
Education
Oil and Gas
Healthcare
No Taxes (except Road Taxes)

For citizens of Brunei Darussalam, they are extremely lucky. They have benefits such as below :

Entitle for Government and Non-government Scholarships
Easier to find Jobs in Private and Public Sector
Almost free $1 healthcare including medicine, doctor fees, surgery, ward admissions, dental)
Free treatment overseas if disease can't be treated here
Free Education
Free Housing/Land
Interest free loans when working for the government

That is the benefits for people living in Brunei Darussalam. I'm very sorry to hear about the skyrocketing oil-prices worldwide and I am very thankful for what I have right now.
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Postby Karlsweldt » Sun May 04, 2008 5:52 am

Nice that the Brunei government cares about its population!

Undoubtedly, the "overhead" price per barrel for export is the major support for those programs.. going directly into government coffers.
And exporting more than 200,000 barrels per day is no small matter!

The devalued U.S. dollar, Federal interest rate cuts, Mid-East turmoil plus other aspects, have led to a frenzy of over-pricing crude supplies. But there are government regulations that allow "loop-holes" for commodity traders, and they are taking advantage of those exceptions.. to the dismay and misfortune of the entire world's economy!
A lot of fall-out is already noted: Higher food prices, more use of mass-transit, idling of those low-MPG road monsters. The trucking industry has taken the hardest hit on their operations cost.
The cost for utilities such as electric has also risen substantially. Where will it end?
Hopefully well before a critical stage!
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Postby MrG » Wed Mar 09, 2011 12:27 pm

How High Can Crude Go In Price?


A lot @#$! higher now they've gone and blown up one of Libya's oil fields.

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Postby Karlsweldt » Wed Mar 09, 2011 2:02 pm

Hey.. talk about "resurrection" of the dead!! But here we are again, in the same boat with no viable excuse for the high price of crude.. except that of profit! Guess this news item is the one you refer to, MrG. Nice when a despot blows up his country's source of major income! Callous disregard for the citizens of the country!
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Postby bdub » Thu Mar 10, 2011 10:04 am

to the point of "high" oil prices.... are they really "high" when the cost of oil has not been linked to the cost of inflation over the years? even with the high prices today, adjusted for inflation, gas prices today are actually lower than they were decades ago! i am talking in the US, here. some european countries are paying over $8 a gallon.

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Postby MrG » Thu Mar 10, 2011 10:36 am

bdub wrote:to the point of "high" oil prices.... are they really "high" when the cost of oil has not been linked to the cost of inflation over the years? even with the high prices today, adjusted for inflation, gas prices today are actually lower than they were decades ago! i am talking in the US, here. some european countries are paying over $8 a gallon.

this ain't gonna be the fact forever.


I'm in the UK and 2 days ago I paid £1.32 per litre which equates to $9.67 per gallon! So don't tell me the price isn't high.
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