Price of a barrel of oil $44 today!

[asdfghjkl]

I never thought we would see oil this low again. Hopefully lower fuel prices will take the sting out of the freight market being so slow. Anyone still buying T. Boone Pickens prediction of $200 a barrel oil by 2009?

[Jackrabbit379]

Well, I don't know how long the prices will stay down, but it's nice anyway. It would be nice if the prices would stay down.
Wouldn't it be something if the price of fuel would be around .70 some-odd cents again?

They way things fluctuate now days, it wouldn't surprise me if the price did jump up to $200. a barrel.

[lowrange]

I haven't traced it all out, but it sounds to me like the price of oil is like a gauge of how much work we're going to have in the not too distant future...

...cheap oil means a lot of sitting.

It may be absolutely mandatory for us to have other kinds of fuels if we're going to have a robust economy again.

[heavyhaulerss]

I never thought we would see oil this low again. Hopefully lower fuel prices will take the sting out of the freight market being so slow. Anyone still buying T. Boone Pickens prediction of $200 a barrel oil by 2009?

it wil have the opposite affect. as I told my daughter couple months ago.. if, fuel/gas prices drop fast & far like people want, it wont be a good sign. when prices were high the market & economy demanded it. I knew if & when it dropped it would be for a reason. a bad one. I myself would rather have high fuel cost & plenty of freight than a dollar a gallon & no loads. when fuel was high, I may have had to take an extra load that week or run longer to make the same money, but if the work was there, then I had a choice to work. right now it is the sowest I have ever seen it & it's going to get worse.

[lowrange]

it wil have the opposite affect. as I told my daughter couple months ago.. if, fuel/gas prices drop fast & far like people want, it wont be a good sign. when prices were high the market & economy demanded it. I knew if & when it dropped it would be for a reason. a bad one. I myself would rather have high fuel cost & plenty of freight than a dollar a gallon & no loads. when fuel was high, I may have had to take an extra load that week or run longer to make the same money, but if the work was there, then I had a choice to work. right now it is the sowest I have ever seen it & it's going to get worse.

What he said.

[Orangetxguy]

Personally I think that oil is going to slide down to about $37-38 ber barrel and hold there until around mid-July. Once it starts back up, I don't think it will get much above $53-56 ber barrel..for at least 5 or 6 years. Time will tell.

The run up to $147 per barrel was artificial. If investors hadn't been buying all the oil futures they coud lay hands too, I doubt that oil would have gone over $55-58 per barrel in the first place. I really don't have much sympathy for those investors who have lost their shorts.


Regardless...the damage has been done. Once it gets repaired, will "We" have to common sense, to not let it happen again?



I doubt that!


Do you suppose one of the oil companies would be up for a "Bail-out" package for Truckers?? Sure...when the moon grows hay.

[GMAN]

I wonder if some of these investors we are bailing out are part of the oil futures crowd?

[GMAN]

Well, I don't know how long the prices will stay down, but it's nice anyway. It would be nice if the prices would stay down.
Wouldn't it be something if the price of fuel would be around .70 some-odd cents again?

They way things fluctuate now days, it wouldn't surprise me if the price did jump up to $200. a barrel.

I think it would be great of gas was at $0.25/gallon and diesel was around $0.17/gallon again.

[Orangetxguy]

I wonder if some of these investors we are bailing out are part of the oil futures crowd?

You can bet they are. The Automotive Investors too.

It is a shame that a lot of little folks lost money. Those I feel sorry for.

But the mega-bucks people, those who manage the "Funds Markets", those are the ones that should be shot. They are the ones who ran up the "Home Mortgage" markets, then turned to the oil markets when they realized what they had done.

Every one of those who got checks for millions, while the "Little People" lost their savings and retirements, should be tried for treason and shot.

Everybody is all upset over the foreclosures that are occuring. The only reason that the banks and investors are concerned, is because they don't want to own those properties, they want the inflated revenues that they feel is their reward for encouraging people to live above their means.

I was listening to one of the Senators interviewed this afternoon on Fox. I realized he was right. Let the "Big 3" file bankruptcy protection and reorganize. Yeah...lot's of people will get hurt in the short term, but like he said, long term it will be best for the country. Until I listened to the Q & A session they had today, and the analysts that were there to back up the "Big 3", I was all for bailing them out. Not now. Let them file and reorganize.

[floored]

Cost me $24.50 to fill up my car today

Be nice if diesel would be cheaper than gas again, I still don't really get why its higher when its costs to produce are less??

[Copperhead]

I am glad that prices have dropped from a personal fueling stand point. From my business stand point, I hate that prices have dropped. I got a better net from having the price way up there. With a solid fuel surcharge I got, and getting a half way decent mpg, I was actually taking home more with the higher fuel price.

Oh well, I will not complain. At least most people do not have to choose between a luxury item once in a while or fueling the family car like they were having to do when fuel was high. Of course that is assuming they haven't lost their job in this economy.

[Copperhead]

Cost me $24.50 to fill up my car today

Be nice if diesel would be cheaper than gas again, I still don't really get why its higher when its costs to produce are less??

Because it is in more of a demand world wide than gas is. heck, Europe ships a lot of gas they produce to us because they primarily are on diesel for most vehicles. Not really sure that diesel costs less to produce. A certain amount of diesel, gas, and other items are in each barrel of crude. You just can't determine how much of what product you want out of a barrel of oil. Refining is just a matter of separating out the various products. Then you have to remove the sulfer to get diesel into the ULSD levels that our illustrious government demands.

If you have noticed for any length of time, that in normal years, diesel always went up in price in the fall. Because some of it was diverted to home heating oil. Both are of the same distillate class, and you can only get so much out of each barrel of oil.

I guess you could say that diesel is a byproduct of gas production. If you are primarily refining a barrel of oil for gasoline. The reverse is true though. If you are primarily refining crude for diesel, then gas is a byproduct, along with naptha and other products. It's all in the perspective.

[Malaki86]

What isn't a good sign is that my company is bitching more now about watching where we fuel up (to get a lower price) than they did when it was $5+/gal. I had to have a meeting with one of the owners because I fueled up at the T/A in Willington, CT because my truck was running on empty. Sad thing is that we don't use our EFS cards now (only use TCH), but the Pilot just up the highway in Mass was .35/gal cheaper

[GMAN]

I just heard on the news that some think that $1/gallon gas is possible in the short term. It would be nice of diesel would get down that low if rates would stay up. It is a real shame that these major investors are getting a bailout. I would like to see Congress get some intestinal fortitude and do the right thing by stopping any more payments to these banks and certainly not make any sort of loan to the automakers.

[TomB985]

It's coming......

http://www.foxnews.com/story/0,2933,462284,00.html

[Jackrabbit379]

Now days, there are so much more using Diesel. There are so many pickups, cars that run on Diesel, and all those floosy doosy big whoppin motor homes. I see I don't know how many of those high dollar RVs every day. I wouldn't know how to prove it, but I've always heard that it costs less to make Diesel.

[TomB985]

From Facts On Fuel

Q. Will ULSD fuel be more expensive than the current Low Sulfur Diesel fuel?
A. ULSD fuel costs more to refine and distribute than Low Sulfur Diesel fuel. No one can predict with certainty the price of ULSD fuel at the pump. Many factors affect the consumer price of fuels, including the price of crude oil on the global market, geopolitical, weather, transportation and economic events, as well as supply and demand. Visit the Energy Information Administration web site for more information on fuel prices.

And here's the EIA website on it...lots of good info here....

http://www.eia.doe.gov/bookshelf/bro...sel/index.html

I know, I know, BD...I'm just a heathen company driver...

[Copperhead]

Now days, there are so much more using Diesel. There are so many pickups, cars that run on Diesel, and all those floosy doosy big whoppin motor homes. I see I don't know how many of those high dollar RVs every day. I wouldn't know how to prove it, but I've always heard that it costs less to make Diesel.

And also my '06 Jeep Liberty Diesel. Nothing like having a 4300# four wheel drive that can take on a lot of mud and snow, and still have the ability to easily pull a 300 gallon fuel wagon on my farm, has more torque than most small V8's, and has a cast iron block, wet sleeved, bosch common rail fuel injection, and holset turbo. All of it designed to be a 300,000 mile engine. Even though it's a 2.8L diesel, they had to use the 545 RFE transmission from behind the 5.7L HEMI engine. Got it for only $500 more than the standard 3.7L gasser model and I get over 30 mpg with it on trips. Too bad the government got involved and added more regulations so that Jeep had to discontinue it after '06. Now this is one of types of vehicles that would pull the auto industry out of its slump.

Oh.... did I mention that I just use fuel from the trucks tanks to fill the Jeep up? Not bad. great vehicle and get to write off the fuel. What a country!

[RostyC]

Down to 40 and change and I hope it goes to 5 bucks. Those guys made there money, believe me they did. A lot of people did. Now dammit gimme cheap fuel!

[Jackrabbit379]

I remember hearing that Exxon Mobile made such-n-such hundred billion in 3 months, this summer?