Stocking up on gas ?

Discussion in 'Peak Oil' started by TnAndy, Feb 20, 2012.

  1. TnAndy

    TnAndy Senior Member Founding Member

    WTI crude oil is up to $105 this morning, well on it's way to 120 or so later this spring.....and that's without the event of anybody dropping a bomb on Iran....which I think will run it to 175-200 easy.

    I'm filling my 300gal on a stand tank, and a couple more 55gal drums in anticipation of this summer getting pretty interesting.

    55gal drum of diesel last week was $207.
    yomolandoplag likes this.
  2. Falcon15

    Falcon15 Falco Peregrinus

    The reasoning behind the spike in crude prices are simple. Iran cut off the UK and France. NOW. They "reverse sanctioned the largest European bullies". I rotated my stored gas into service (filled the vehicles and consolidated the remainder), refilled my smaller cans - added stabil, and filled my 55 gallon fuel drum for approx. $192.00 (added Stabil). It is going to get right interesting. WTI has traded down to $103/BBL now. However, Brent crude (as of 09:37 CST) is trading at $119.58/BBL. The consolidated "crude" price is $105.04 and on an upward trend.

    Got Gas?
    larryinalabama likes this.
  3. Matteo10572

    Matteo10572 Monkey+

    Just a question. It seems that when fuel prices jump that they tend to be up for an extended period. If one was going to get into fuel storage, how much would be necessary? Usually I ride my motorcycle as much as I can to save gas. I get about 53MPG on it which isn't too bad.
  4. Falcon15

    Falcon15 Falco Peregrinus

    Mat, that would entirely depend on how much you need, how much you can legally (and safely store), and how much you use. For my family and I, it is just at 110 gallons of gasoline. Of course when the pricing adjusts tomorrow, when the US markets are open, expect some significant jumps in the Houston area to just under or just over 4.00/gal.
  5. Gator 45/70

    Gator 45/70 Monkey+++

    I'm going to reserve comment's since i'm in the business and my bonus is based on the price of oil...But i suggest that if you have some empty containers...Go fill them up...
    Falcon15 likes this.
  6. Falcon15

    Falcon15 Falco Peregrinus

    And anyone like me, who is trying to get back in the business CAN'T because the folks IN the business are getting real nervous about oil supplies.
  7. rsbhunter

    rsbhunter Monkey+

    Gas prices

    As to storing gas, you're already buying it at the higher price...unless you bought it at last months prices.....I have considered the same thing, storing it.....but unless you only use 5 or 10 gallons a week, 2-55 gal drums will keep you for 11 weeks....which leaves you refilling in June or July, probably peak of pricing....I hate this pricing as much as anybody...but until the U.S. and the rest of the world cut back to using only what is needed, we will be paying the prices the fuel gods demand....I now, drive to work and back 4 days a week (4 day work week, sweet) and almost zero on the days off......get used to driving as little as possible, buy in quantity, walk to whatever is close enough...This actually might be a good practice run for when something bad happens! I honestly cannot see fuel prices ever going down to a "resonable" level...but, it will effect the "economy's growth" alot....rsbhunter
  8. Gator 45/70

    Gator 45/70 Monkey+++

    Well Falcon,I don't know your field of speciality in the business,But i know there is indeed about 5/6 thousand job opening's in Rigzone.I guess that you've perhaps explored that route ? If not shoot me a P.M. on what you are looking for...Not say'n that i can help..But i can ask around...
  9. Falcon15

    Falcon15 Falco Peregrinus

    Yeah, I am all over Rigzone, their corporate offices are down on 290 nearby where I live (relatively nearby anyhow). Logistics is my area of expertise.
    Gator 45/70 likes this.
  10. Gator 45/70

    Gator 45/70 Monkey+++

    Hmm...Did see a few just now with that heading..Good/Bad/Ugly ?
    I guess you have seen the latest ?
  11. Falcon15

    Falcon15 Falco Peregrinus

    Yeah, I am and I did. Problem with the "low grades" of oil, like that, as you know it is expensive to extract and process. Not like Saudi or WTI crude, which require little processing to get to the "oil" portion of the extraction. That, is "low hanging fruit" IMO. Soon all we will be left with is the "low grade" oil. I look at pieces like that with a jaundiced eye. they are (unsuccessfully) trying to sway uninformed commodity traders that "OIL IS PLENTIFUL" an no need to drive the price up.

    I have to say I like how they close the article:
    Gator 45/70 likes this.
  12. ColtCarbine

    ColtCarbine Monkey+++ Founding Member

    I can only stock so much fuel but will be stocking up on more food.
    VisuTrac, larryinalabama and Falcon15 like this.
  13. Falcon15

    Falcon15 Falco Peregrinus

    Since my gasoline storage is done, it is off to the feed store and the warehouse store tomorrow before the US markets open and gasoline futures get hammered.
  14. larryinalabama

    larryinalabama Monkey++

    Stock up on Beer and you wont need gas to get to the store.
    CraftyMofo likes this.
  15. hedger

    hedger Monkey+

    Some folks hold the opinion that the uptick in price is due to the perpetually provocative stance of Iran. Speculators are a factor, and that cannot be denied.

    I am very concerned that a serious military crisis, precipitated by Iran, would double the cost at the pump, in the short term--following such a crisis.

    The White House meanwhile has clearly had the liberal main stream media on their side, as they work to downplay (and possibly not even mention) that the spike in gasoline prices is an oppressive burden on the poor and others with very tight budgets.

    As families go without some food and possibly other "necessities" in order to have gas to get to their jobs--and thereby hold onto their jobs, this would create a massively negative economic ripple that could very well abort any sense of economic recovery/improvement.

    This situation is just plain foul from whatever angle you choose to observe it.
  16. ditch witch

    ditch witch I do stupid crap, so you don't have to

    I'm fortunate in that one of my employees lives just down the road from me and he has a company truck with company paid for gas. Starting next week my truck stays in the garage and I'll start riding along with him to and from work.

    Sadly I can't convince the Mr to do the same, despite his constant caterwauling about paying $500+ a month for diesel. I can hardly wait for fishing tournament season to start. He'll really have something to cry about then!
    Gator 45/70 likes this.
  17. Gator 45/70

    Gator 45/70 Monkey+++

    Buy him a paddle...^^^^ Hand it to him ever time he wawaa's...
    oldawg and ditch witch like this.
  18. Seawolf1090

    Seawolf1090 Retired Curmudgeonly IT Monkey Founding Member

    Tuesday, I filled the van and three 5-gallon cans for $3.59 a gallon. Yesterday, the stations were up to $3.69 a gallon! Ten cent rise in three days..... hasn't jumped like that in awhile.
  19. Gator 45/70

    Gator 45/70 Monkey+++

  20. TnAndy

    TnAndy Senior Member Founding Member

    I filled a drum and a half yesterday at the local independent station that is one of the few that sells non-ethanol diluted gasoline....and ran them out.

    They were already out of regular, and selling their high test for regular price, and I got the last....hope that didn't also mean the "bottom of the tank" crud.

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