Crude is a little more than $70 a barrel, $5 less than last Friday.

[no_hypocrisy]

Why aren't the prices going down at the pumps?

[babylonsister]

1. They're going down slowly, but I think industries feel it.

For an airline, a little goes a good way (not a long way, but it helps). For truckers, we're all going to feel this and it's already starting; witnessed in the grocery story today.

[uppityperson]

4. I rant about food price increases and people look @ me like I'm nuts

food will cost more because of transportation. It is simple. Why do people look at me like I'm nuts? (standing on a corner with a sign "the end is near" might explain it?)

[tyedyeto]

10. They are?

I haven't seen any price drops. Tell me where the price has dropped?

[babylonsister]

11. The price dropped a bit in the stock market, not at the pumps or

the grocery store; it's going up there.

[tyedyeto]

14. Just watch, it's not going to drop anytime in the near future

no matter what the price per barrel is. Gotta keep those prices up so Exxon et al can keep on reaping those record breaking profits.

[Duer 157099]

2. Funny how that works, huh

Always. Always. Thirty cents up, barely any news, but WAIT, if it falls by 1 or 2 cents, it will be plastered all over the news, showing how Bush is working for us.

God it is so sickening

[babylonsister]

12. It's not going to happen this time, because I don't see

any gas prices going down significantly, but grocery prices are increasing. The low buzz of unhappy people you hear will increase.

[uppityperson]

3. it's all those new summer formulas they have to make

that's what I heard. Dang those formulas.

[TomInTib]

5. Crude prices are futures and therein lies the rub.

Distributors and retailers cry "protection" while immediately increasing pump prices on crude price increases and then claim same when futures prices drop.

Just one more thingto thank the RayGun administration.

Everyone in the oilpatch predicted this and the reagan people just told us to trust them, for they knew best.

Bastards

[no_hypocrisy]

6. Are you saying in so many words that oil futures are the new real estate?

[TomInTib]

7. Is that a rhetorical question or are you serious?

No offense, I am asking in a serious way.

[no_hypocrisy]

8. Both.

[TomInTib]

13. O K...

The cost of pulling a barrel of crude out of the ground varies globally, but not by much.

Environment (location, substrate, etc.) is paramount.

Insurance is a variable.

Cost of labor isn't that much of a factor once the well is producing.

Most P&L projections are based on a production cost in the mid $20s, depending on "sweetness" of the crude.

While my family is dancing in the aisles, what we are witnessing now is the biggest gang-rape in history.

And it ain't going away.

I predict that prices will hold somewhat static until the '06 elections and then will come the deluge.

You had better position yourself.

To answer your question, unlike the real estate bubble (which was based on ever-increasing costs and prices), costs will remain static but price will only cease to accelerate when the market just simply cannot absorb any more increases in price.

So there is my take on it.

Tom

[babylonsister]

15. So you don't think speculation is, or has been, fueling this?

Heah, if you're benefitting, good for you. I wish I was. But I would like to know what's driving this.

[TomInTib]

16. It is pure greed run amok, 'sister.

And when greed is given free rein, there is nothing that will stop it.

Have I ever told you where my family fits in the overall scheme of all of this?

[babylonsister]

17. No, you haven't Tom.

And don't, if you don't want to, or PM me. I know you have roots in TX.
But I love you and Ms. TIT, regardless! (Was that TIT intenTTional?) Heh.

[TomInTib]

19. Ms, TIT!! Oh, I cannot wait to tell her this.

I will PM you some stuff tomorrow or Saturday. There is no way I can put that history out for public consumption.

I am still gettng grief for outing Harry Whittington's wife, Mercedes, as being James A Baker, III's sister, 'sister.

[Left Is Write]

9. Prices went up by another 7-10 cents here today.

[babylonsister]

18. Where's here?

Help!

[Left Is Write]

21. Boise.

[Jamison]

20. We actually had a drop in price at the pumps here.

The Mobil station near my place dropped from $2.77 to $2.75 today. I know what you're thinking...big whoop, but this is the first time it's went DOWN even a penny in a couple of months.