[redcat]

Yikes, I broke the $10.00 mark filling up the Bullet today. $10.81 for 2.88 Gal..

[jjoe256]

$4.25 in Seattle. Gotta love all the speculation.

[Lahti35]

$4.25 in Seattle. Gotta love all the speculation.

I speculate that speculators will have to start working undercover before too long.... I'm sure they're on the fast track to the top of somebody's hit list

[jjoe256]

Obama does have the opportunity to appoint a new member to Commodity Futures Trading Commission replacing a Republican. Will the new member be sporting a peg leg and parrot on his shoulder? The Dodd-Frank law is inching closer to implementation with another batch of rules on “swaps” to come out Wednesday. This pertains to the 600 trillion USD in derivatives that will no longer be traded in the dark at least in theory. Ronald Reagan not only proved that deficits don’t matter but also that laws and regulations don’t matter if no one enforces them.

Rules that came out last week from the CFTC and the SEC require anybody trading derivatives to put up collateral if they aren’t in the actual business of using the commodity being traded like oil companies, airlines and farmers. Republicans in the House are of course attempting to block any of these rules from ever seeing the light of day.

   Gee, what a thought! To actually have to put up money to buy futures and derivatives. The world economy is only $60 trillion and there are $600 trillion in derivatives. Can't have that! Interferes with that wonderful mythical "free market".

[Maturin]

Not only an US issue. In Germany the gas price is jumping up and down twice a day, the amplitude is up to 8% from the all round price. So you can get a litre of 98 octane for 1,60 € in the morning. If you miss that opportunity though, you sometimes pay 1,72 € in the afternoon. Next day maybe 1,65 € again and so on....
It´s clear that oil will get more epensive on the long run, but EVERYONE knows that he or she is robbed by the big oil companies - everyone but the antitrust division, who´s members must have been deafed and blinded.
I wished that would be just another conspiracy theory but all questions are wiped away when lookiing at the profits of these trusts. Didn´t I elected my government to work for me? Well, if I´m lucky they do it occasionally...

[GreenMachine]

they talk about the strategic oil supply here which I believe has been around  for awhile now....does anyone know how long we could suck on that vice what we have now in the midddle east...i would think that 99.9% of us wouldn't know the answer to this question and that we could only speculate..I try not look at the dollar  amount and  fill the cars up when I 'm at the  1/4 -1/2 mark. If I wait till on E , it only makes me sick as the dollar just go flying by..Its Good Friday and Easter weekend and rather not get bent out of shape for the time being....................

[olhogrider]

Blame Canada!

[jjoe256]

Oil supplies are at almost record levels. It's not about supply and demand at all. The oil companies benefit from the run up in prices driven my speculators that don't have to put much up front and have no intention of taking delivery. If they were required to put more up front, pay a percentage for trades, and even be in a position to take delivery, like airlines, raIlroads, trucking companies, it may reduce liquidity slightly, but it sure would level the price playing field to real issues, not speculative ones. Butr there's insufficient will in DC to do that. I wonder why???

[olhogrider]

But there's insufficient will in DC to do that. I wonder why???

Really? I guess I don't pay my lobbyists as much as the oil companies or the speculators do. I spent it all at the gas pump.

[GreenMachine]

i'm not sure their is much the administration can do except drop the fed tax on it...we like to think they could but In in a free market/democracy/republic  whatever u want to call it....its not like the prez can wave his ugly stick and make the oil industry play ball ....In that breath, it seems to not matter who is in power....but then again its on his watch, so as they say " everythiing on the plate"..I would agree its speculation if it drop back  back down again..if it goes to 4-5 bucks and stays there...well.................................I guess we can say we speculated that it would go that high and that's the new standard..

[singhg5]

Money, money, money .......   It's a rich man's world  !!  

[The Garbone]

Hmmm,  maybe issue drilling permits,  allow the construction of new refineries, get rid of all the special season mixes,  stop mandating ethanol. 

[GreenMachine]

doesn't sound unreasonable...so what's the problem with moving forward....

[redcat]

Everything you said is right Garbone but they still have to put a leash on the speculators

[Lahti35]

doesn't sound unreasonable...so what's the problem with moving forward....

Just the gubbermint!