Crude Oil, Gasoline Prices Decline on...

Crude Oil, Gasoline Prices Decline on Speculation Supplies Will Advance

There are 12 comments on the www.bloomberg.com story from Jun 20, 2009, titled Crude Oil, Gasoline Prices Decline on Speculation Supplies Will Advance. In it, www.bloomberg.com reports that:

Crude oil fell more than $1 a barrel and gasoline tumbled the most in two months on speculation that supplies of the motor fuel will climb as refineries bolster output and imports gain.

Join the discussion below, or Read more at www.bloomberg.com.

Duh Vinci

Las Vegas, NV

#1 Jun 20, 2009
Well the Sioux, Alonquin and Iraquios lived along the black river...later called the Lumbar river Which the Lumbee are trying to claim...
Duh Vinci

Las Vegas, NV

#2 Jun 20, 2009
I wonder where the leprosy came from?
Kozak

Uniontown, PA

#3 Jun 21, 2009
Let's see if the gasoline prices back down or do the oil companies have their hooks in another president?
skeptic

San Antonio, TX

#4 Jun 21, 2009
Kozak wrote:
Let's see if the gasoline prices back down or do the oil companies have their hooks in another president?
Your conspiracy theory is trash! Just which “oil companies” do you believe had “hooks” in ANY POTUS?

The largest in terms of stock value and profits is ExxonMobil. They made 81.5% of their 2008 profits that can be attributed to a region from OUTSIDE the US. This increased to 84.1% in the first quarter of 2009. By far the majority of their profits were and are from finding and producing crude and natural gas rather than by refining and selling fuels.

The other US “giants,” Chevron and Conoco Phillips and the two foreign ones active here, BP and Shell, have similar patterns of earnings.

The largest in terms of US refining capacity is Valero. They LOST money in 2008 (but because of a write down in “good will”). They have few operations outside the US and produce very little crude or gas.
dr spock

Brooklyn, NY

#5 Jun 21, 2009
Oil is not going down while this Iran thing is going on.
Lance Winslow

Los Gatos, CA

#6 Jun 21, 2009
dr spock wrote:
Oil is not going down while this Iran thing is going on.
The price of crude declined again today, but don't expect prices at the pump to fall. Refiners are still putting the squeeze on gas prices.
skeptic

Houston, TX

#7 Jun 22, 2009
Lance Winslow wrote:
<quoted text>The price of crude declined again today, but don't expect prices at the pump to fall. Refiners are still putting the squeeze on gas prices.
Read the article! Pump prices DID decrease!!!

I’ll bet the decrease is only temporary however…the exporters want and will get crude to $75-95/Bbl. US refiners can play NO PART in that.
skeptic

Houston, TX

#8 Jun 22, 2009
Lance Winslow wrote:
<quoted text>The price of crude declined again today, but don't expect prices at the pump to fall. Refiners are still putting the squeeze on gas prices.
Why don’t you get off your conspiracy theory? Can you name even ONE refiner that doesn’t refine more crude than they produce?

If it becomes uneconomical to refine purchased crude they MIGHT shut down units or even entire refineries but that would be because it could cost more to refine expensive purchased crude than they could sell the products for.

You don’t know beans about the oil industries!!!!!
Kozak

Uniontown, PA

#9 Jun 23, 2009
skeptic wrote:
<quoted text>
Your conspiracy theory is trash! Just which “oil companies” do you believe had “hooks” in ANY POTUS?
The largest in terms of stock value and profits is ExxonMobil. They made 81.5% of their 2008 profits that can be attributed to a region from OUTSIDE the US. This increased to 84.1% in the first quarter of 2009. By far the majority of their profits were and are from finding and producing crude and natural gas rather than by refining and selling fuels.
The other US “giants,” Chevron and Conoco Phillips and the two foreign ones active here, BP and Shell, have similar patterns of earnings.
The largest in terms of US refining capacity is Valero. They LOST money in 2008 (but because of a write down in “good will”). They have few operations outside the US and produce very little crude or gas.
I'd say the last POTUS (He didn't inhale, either)
was up to his squinty eyeballs with the oil companies. Hell, his family were close friends of the bin Ladens. How about his Vice POTUS, Sir
Cheney of Halliburton. How crooked is that?
skeptic

Houston, TX

#10 Jun 24, 2009
Kozak wrote:
<quoted text>
I'd say the last POTUS (He didn't inhale, either)
was up to his squinty eyeballs with the oil companies. Hell, his family were close friends of the bin Ladens. How about his Vice POTUS, Sir
Cheney of Halliburton. How crooked is that?
The Bush family HAS been in the oil business for decades. In fact the ancestors of Bush Jr. were quite successful independent oilmen. The independents seek and drill for crude (and gas), nearly completely onshore and sell those products to refiners. They found more onshore oil than the larger refiners in the US. They are more competitors with than friend of the integrated oil companies. The venture of Bush Jr., however, was a failure and he was NEVER associated with a stockholder-owned oil company.

Members of the Bush family (and nearly every company interested in oil) HAVE dealt with the Bin Laden’s. Bin Laden is the family name of one line of the Saudi Royal Family. In fact Osama Bin Laden IS a distant member of that family but is persona non-gratis in Saudi. Were he to return he probably would be beheaded.

Halliburton IS in the oil industries but IS NOT an integrated oil company. They are an Oil Field Services Company and don’t give a damn about the price of either crude or gasoline. They don’t produce, refine or market one gallon. The best thing that could happen from their perspective would be for us to leave Iraq, them to have their Civil War and the winners seek to restore oil production. Halliburton is the largest (and arguably the best) company in the world serving as general contractor for that kind of work. They have a $3 billion contract with Saudi to help open up a new field there. They served in that capacity when Saddam was driven from Kuwait and had the fires extinguished (subcontracted to both Red Adair and Boots and Coots) and oil production restored in only about half the time originally estimated.

A subsidiary, KBR, now spun off probably HAS been guilty of some shady dealing.

Now, just where are you heading? Where is there ANY evidence of anything “crooked?” All you have is another wild conspiracy theory!

Keep believing…I’ll invest on perceptions and the suspicions about the integrated oil companies have helped me become quite comfortable!
Jeff D

Swampscott, MA

#11 Aug 17, 2009
Why dont we just switch to alternative energy and then we wont have to worry about gas prices anymore.
Lets shut down Exxon and Walmart.

:-)

Surprise surprise gas prices are continuing to creep up this summer. so much for the gas price decline.- gas average in Mass is almost 2.60- 2.70 a gallon now.
Jeff D

Swampscott, MA

#12 Aug 17, 2009
Just one more thing to screw the middle class with

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