Cuz

I just don't get it. I know the speculators are gaming on the futures but damn, I just don't get the price going up this much in one day! KNOCK IT THE HELL OFF ALLREADY!!!!!!!!!!!!!!!!!!!

diesel84

If things dont start to change soon they will have to start adding a row boat division insome of the major tournaments.:doh

Ocean Man

It's funny that the price per gallon didn't go down with the price per barrel but I bet it will go up with it.

kingfish501

What did you guys think would happen when the Dumbocrats effectively killed drilling in the Gulf?

Brad King

Actually the cause for the Oil per barell cost increasing is due to a gas shortage brought on by the Two Hurricanes we just had. Numerous Oil Rigs offshore and MANY Gulf Coast refineries were damaged, and are no longer able to meet full expectations. We had 7 outages pushed till 09 (30 million worth)this morning because the Govt. will not allow the Refineries to bring actual Operating units off line for re-work and maintenance.

So REALLY if you looked at from a different point of view. The Evil Evil Government actually did you a favor today by not allowing 7 more operating units to come off line, which would have easily pushed the cost "per barell" up over $160

Just my .02 cents, feel free to fire away

__________________
Capt. Brad King
South Again Charters LLC
www.southagain.com
captbrad@southagain.com
Inshore/Nearshore Charters

whitecap

I would think that people are worrying about the dollar losing value after this700 bil bailout and are trying to hedge thier investments.

sushi

<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><SPAN style="FONT-SIZE: 10pt; COLOR: #1f5080; FONT-FAMILY: Verdana">If you don't have the capacity to refine it the price of oil should go down. Why would you want to buy oil when youcan't make gasoline to sell. They price is driven up by speculators that are pulling money out of the unstable stock market and buying commodities. It's our money (retirement funds, 401K, ect...) that they are doing it with. All I know for sure is that my savings are disappearing and the cost of living is sky rocketing and some SOB on Wall Street is getting paid hundreds of millions of dollars a year to make that happen.

DoubleD

You are absolutely right. Yesterday was the last trading day for the October contract and of course the higher the price the more money some people make. It is a strange coincidence that today with a new contract the price of oil is falling again.

Brad King

<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><P class=MsoNormal style="MARGIN: 0in 0in 0pt">How do you figure? Simple supply and demand situation. The demand is still high, the supply is low. There fore the price of the commodity goes up. i think the only "Speculating" going on is people not understanding the industry and how the prices are effected by many things.

__________________
Capt. Brad King
South Again Charters LLC
www.southagain.com
captbrad@southagain.com
Inshore/Nearshore Charters

Cuz

You are right, It's not a supply and demand as per say, it's a wallstreet grab it now attitude and when were rich we won't have to worry tomarrow. Also who do you think owns all the refrineries! The oil companies do. Why would you want to build more and lower your profits by producing more fuel! Funny how when you kind of look from the top down things stick out! I don't know everything but smells like mullet to me!