Oil prices - you guys following these? Drop baby drop!

http://www.bloomberg.com/energy/

Nymex crude future is under $100/barrel. Might be able to run full ballast this summer after all! Hell yeah!

Osama dead + cinco de mayo + 10%-15% negative slide in oil = a damn good week!

Keep slip sliding away.

Until the US$ has more buying power, things won't quite change as much as we want....

Saw this earlier, got pretty excited since I am headed to Powell next month and really need to have some cheaper gas!

I'm riding my bicycle and motorcycle this summer so I can spend the rest on boat gas. There will be no un-weighted sets for me in the near future. At least not because of gas prices.

Prices at the pump never fall nearly as fast as they rise. Also, with summer blend and holidays coming, they'll use any excuse to keep prices high.

Would be nice but I'm not holding my breathe. Prices will stay high as long as the dollar is worthless, which is as long as the U.S. has a budget deficit combined with a fiat currency backed by nothing and being constantly inflated.

That being said, I try not to worry about gas prices. There's nothing I can do to change it. I noticed today I'm down to 1/4 tank in the truck and will need to buy gas this weekend, as I drove past a gas station I saw prices rose about $.30 since last time I got gas. 38 gallons will be expensive. It is what it is. It won't stop me from driving to work and it won't stop me from using the boat. I try not to worry too much about things that are out of my control.

^Since the dollar is worthless, why don't you give me all of the US currency that you possess or have access?

Jeremy, I'll define worthless as buying power dropping rapidly. This is called inflation. Inflated as it may be, I need my earnings to live, and enjoy riding behind my boat.

Originally Posted by cadunkle

Would be nice but I'm not holding my breathe. Prices will stay high as long as the dollar is worthless, which is as long as the U.S. has a budget deficit combined with a fiat currency backed by nothing and being constantly inflated.

Cory exact reason that every US dollar I have and don't need to pay the bills, I convert to silver! The simple economics of everything the US is doing right now makes no sense for anyone that has taken Econ 101

Jeff, I have a friend who started buying gold and silver 5-10 years ago, seeing this rapid hyperinflation coming. Man is he glad he did! I wish I could do that, but unfortunately I need to be debt free before doing this (student loans and higher education, biggest scam I've ever come across... What a waste of time and money that was). Though I am considering converting maybe 3/4 of my savings/emergency fund to silver and/or gold.

Originally Posted by cadunkle

Jeff, I have a friend who started buying gold and silver 5-10 years ago, seeing this rapid hyperinflation coming. Man is he glad he did! I wish I could do that, but unfortunately I need to be debt free before doing this (student loans and higher education, biggest scam I've ever come across... What a waste of time and money that was). Though I am considering converting maybe 3/4 of my savings/emergency fund to silver and/or gold.

Wouldn't suggest buying silver/gold now... you will pay way to much now. Prices may rise a little but its getting close to going flat. I'm not an econimist so i could be wrong this is just IMHO

Here is some hope.

http://finance.yahoo.com/news/Gas-pr...&asset=&ccode=

I know this sounds crazy, but I actually would prefer gas prices to remain high at least for the summer anyway. When gas prices are low, the more village idiots you have out on the waterways. Think about this way - each barrel of oil yields roughly 42 gallons of gasoline, so a $10 change in oil represents a $.24 cents/gallon movement in gas prices. If you burn on average 10-15 gallons on the boat per day and let's say oil was at $150 barrel. That would mean it would cost roughly $12 -$18 not inclusive of taxes - for simplicity let's rounded it to $20.

I would gladly pay an extra $20 for a more pleasant day out (e.g. Less boats) on the lake. I think most of us understand the economics behind a trashed U.S. Dollar, inflation, and middle east speculative trading; nonetheless if you fortunate enough to own/afford a boat then quit bitching about a few extra dollars at the pump. Frankly, fuel prices should be the least of everyone's concerns - look at food, general merchandise, clothing, etc in relation to what you spend in macro.

Originally Posted by tnvolgrad

I know this sounds crazy, but I actually would prefer gas prices to remain high at least for the summer anyway. When gas prices are low, the more village idiots you have out on the waterways. Think about this way - each barrel of oil yields roughly 42 gallons of gasoline, so a $10 change in oil represents a $.24 cents/gallon movement in gas prices. If you burn on average 10-15 gallons on the boat per day and let's say oil was at $150 barrel. That would mean it would cost roughly $12 -$18 not inclusive of taxes - for simplicity let's rounded it to $20.

I would gladly pay an extra $20 for a more pleasant day out (e.g. Less boats) on the lake. I think most of us understand the economics behind a trashed U.S. Dollar, inflation, and middle east speculative trading; nonetheless if you fortunate enough to own/afford a boat then quit bitching about a few extra dollars at the pump. Frankly, fuel prices should be the least of everyone's concerns - look at food, general merchandise, clothing, etc in relation to what you spend in macro.

Less people on the lake = less boat sales = people out of work

Joshua explore your thoughts just a little, maybe its the cost of fuel that is used to deliver the above mentioned produce and goods that is driving the prices up ?
Just a thought from a simple village idiot.

Originally Posted by wakecumberlandky

Wouldn't suggest buying silver/gold now... you will pay way to much now. Prices may rise a little but its getting close to going flat. I'm not an econimist so i could be wrong this is just IMHO

With last weeks downfall, silver is back at a good value level. Talk to anyone in finance and they say mid and long term, the outlook is great in metals. IMHO, short term, silver will settle at $50 an ounce within one year. If you buy, buy in hand. Physical only, not paper. I believe paper silver is as worthless as US currency. Many believe the paper isn't actually backed by physical metal, and if everyone tried to trade in the paper for metal, there would not be enough silver to go around.

If you burn on average 10-15 gallons on the boat per day

you only burn 10-15 gallons a day on the lake? wow.

Originally Posted by konaking

Joshua explore your thoughts just a little, maybe its the cost of fuel that is used to deliver the above mentioned produce and goods that is driving the prices up ?
Just a thought from a simple village idiot.

That's was exactly my point - while fuel price are apparent, it's the not so apparent items which most people tend to gloss over. Most people spend more of their disposable income on goods (e.g. Food, clothing, and the transportation costs that it takes to deliver them to market) versus gasoline. Point being, the impact of a 4-7% rise in consumer goods has a far more meaningful impact than $.50 change in gasoline. Simply put, producers rarely give back price once they take it(they may deal it back) while gasoline rises and falls with the price of crude.

Certainly there are other factors, but this isn't an economics seminar.

3-5 gallons per hour - equates to 3-5 hours of operation per day and the balance the time just chillin. Certainly some days I can burn more!

Down to $95 a barrel today... Keep on sliding!

Dang it. I was going to wait toward the end of the week to get gas, thinking it would drop a little. The dang stuff went up .10 a gallon. What the crap!!

Pump prices will not change until at aleast after memorial day. Got to get that extra little from holiday travel. They all are a bunch of crooks.

Our gas dropped $.10 last week, and came back up this week..... uggg

New excuse is there's one refinery in New Orleans that might shutdown next week due to possible floods on the Miss. Total BS. Still over $4 for the cheap stuff.

Oil has dropped over 15% the past week but gas at the pump has dropped 2% around here.

Always some excuse. Can go up every 4 hrs based on what it's trading at, but takes a few days to see any drop. Crooks

it will take a bit to hit the pumps, but they were already off recent highs. Chicago Merc Exchange actually halted trading yesterday in crude oil, gas and silver. It stabilized on re-open. Maybe Rajarratnam had to fund his bail money by selling some gas/oil futures...