Crude prices are climbing, should I stock up on oil?

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Oil hit $74/barrel, and now experts are predicting the possibility of $100/barrel by year's end (and $5/gal gas) due to troubles not only with Iran but with other oil-producing nations. Since this is BITOG and not a politics site, an oil question: should I stock up on some oil now, or just wait? How long does it take for higher crude prices to trickle down to dino oil prices? I need some kind of 5w20 for the new used Odyssey and GC for the Saab. If there's a good sale, maybe I'll stash a case of each in the attic...
 
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Prices go up all the time. It doesn't hurt to stock up a little. Besides, oil stashing is cool. Just don't get too caught up like some of us. I'm at 365 quarts and can't stop. [LOL!]
 
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I say 'no'. There'll be plenty of oil on the shelves once the cost starts going up...people will just stop changing their oil. Then the cost will come down again and you can buy what you need [Smile]
 
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quote:
Originally posted by Zaedock: Prices go up all the time. It doesn't hurt to stock up a little. Besides, oil stashing is cool. Just don't get too caught up like some of us. I'm at 365 quarts and can't stop. [LOL!]
Hey, you can add a "quart a day" for a year...WTG! [Big Grin]
 
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Good 5W-20's,GC, and Mobil-1 are derived mainly from natural gas, and not necessarily crude oil in any significant quantity. Thankfully natural gas prices are still very low. At least for now.
 
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I think I saw a ticker at the bottom of CNN that said oil barrell prices have gone down $2/day for the past two days
 
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Everyone should have a couple dozen quarts or enough to do two changes on all their vehicles, plus enough for topoff if they need it. It's more dangerous, but 5-10 gallons of gas would probably also be prudent to stash away. Properly sta-bil-ized of course. As has been pointed out, motor oil basestocks come from "a different part of the cow" and people can put off oil changes to save the money they're blowing on fuel.
 
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"Experts" are typically "oil analysts" - that is, they are the speculators that are largely driving these increase through hyperbole. The more hysteria they can stir up, the more they profit. I really wish people would stop saying they "heard gas prices are going to be $x.xx a gallon", and talking about shoratges and hoarding. It serves no purpose other than to upset people and create a self-sulfilling prophecy that hurts nearly everyone.
 
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I have personally been picking up 6 Tropartic quarts every time I go to Walmart(My wife Grocery shops there). a little at a time and the stash is growing. I am getting enough for a bout 2-3 years and I'll stop...I promise.
 
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