Oil Going up, Gas going up, Time to stock up?

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Oct 29, 2008
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Dallas, Texas
I have started to buy 2 5qt jugs at Wally World each time I go there. 1 QS, 1 YB, both 5w30, because Im afraid that the prices I see are the best it is going to get for now. With the "recovery" on the way, oil seems to be the leading economic indicator for success. What do you think? Is now the time to buy?
 
Joined
May 6, 2008
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New Mexico, U.S.A.
Not for me. Years down the line I don't want to be running an oil I bought today... or end up donating the old stuff for a more modern formulation.
 
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Feb 23, 2009
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Michigan
"recovery"? Ha..... Oh yeah- YES. Dino might stay down for a little while though... As we start seeing more cars factory filled with synthetic, I see their prices going back up....
 

pbm

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Apr 19, 2004
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I predicted $70 a barrel oil would return when it hit $150 last summer. I am now predicting a collapse in prices later this summer. The economy is a long, long way from recovery regardless of what the 'talking heads' say.
 
Joined
Aug 21, 2008
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ON, Canada eh?
My financial advisor isn't convinced that we are turning just yet and thinks we are in this mess for at least a couple of years... And we are in Canada, where it didn't hurt as bad as you, so where does that put the US? I will stock pile oil because of sales, but not for fear of the markets... Plus the formulations are always changing and ILSAC-GF5 is almost out and going to stir the pot again so I don't want too much old stock. I do keep enough on hand that I don't have to worry if I loose my job though.
 
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I'd much rather put that money to use in a place where I can get a return for my investment. For example, rather than purchase a "stockpile" of oil that does absolutely nothing for me, back in March I purchased 5 thousand shares of Ford at around $2. I sold half of them earlier this month for about $5.50. That'll pay for a nice trip to Italy this summer. Oil stockpiles just seem like such a waste of good capital and a poor return on investment.
 
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 Originally Posted By: pbm
I predicted $70 a barrel oil would return when it hit $150 last summer. I am now predicting a collapse in prices later this summer. The economy is a long, long way from recovery regardless of what the 'talking heads' say.
I'm thinking that gas will hit $3/gallon again, at least for the summer season. As far as the economy recovering later this year, I think elephants will fly first. We're only seeing the tip of the iceberg in terms of foreclosures, and more business failures. Then once the reality hits the creditors and suppliers of GM and Chrysler that they aren't getting paid lets see what happens. You can only write off a loss to a point, the reality of not having the hard cold cash is another story. JMO AD
 
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Gas is going up because of summer blends and the oil companies are being forced to spend money on pumping stations for biodiesel and butanol by government mandate.
 
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"...tax the rich to feed the poor, 'till there are no rich no more." A. Lee Do you think it might be artificial? Here in BEAUTIFUL OREGON they are raising the gas tax by 25%, plates by 300%!!!!! Even in the "worst recession since the Great Depression" State spending is going to be budgeted UP over 5%. The only GOOD news is that is has been inflated by DOUBLE-DIGIT increases for well over a decade. An ex-Governor (who was as responsible as anyone for the years and years of overspending) is now considering another run for office because the legislature is so rabidly [censored]'ed he thinks there's a chance for some REAL socialism and attendant spending increases in the future. (No) Cheers!
 
Joined
Apr 12, 2006
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Alberta
Well, …since the government gave Wall Street 100's of billions of dollars, they now have lots of money to start speculating on the oil futures market again. Notice when the financial collapse happened, oil dropped all the way to $45 from $145 (with relatively little drop in demand). Wall Street was out of money because so many of their speculative investments collapsed, but now with lots of money again, oil is going up again? Coincidence? I don't think so. I would like to know which companies on Wall Street that received government bailout money are speculating on the oil futures market. That would make good political fodder.
 
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I would opine that the worldwide demand for oil dropped significantly since last summer: that's the REASON why oil prices are back down to a reasonable level. DO NOT FORGET that the REA$ON gas was always so much higher in Europe, etc. was beause THEY TAX IT (and anything el$e) TO FUND THEIR WELFARE $TATE.
 
Joined
Dec 5, 2007
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panhandle of florida
Yeah, I was thinking the same exact thing. Better stock up now. Its no surprise oil/gas prices are going up again because the supreme socialist wants prices to go up so we have to buy his econo cars and start using less energy. I heard someone say on youtube the other day that by the time he gets out the country will look like mad max only will all be driving econo cars. I think I'm going to have to agree with that statement.
 
Joined
Feb 9, 2006
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 Originally Posted By: wannafbody
Gas is going up because of summer blends and the oil companies are being forced to spend money on pumping stations for biodiesel and butanol by government mandate.
Gas is going back up b/c refineries have lowered output. Nothing nefarious. Just supply and demand.
 
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Oh, regarding stockpiles. Careful you don't end up like me. I've got a 200+ quart stash that I'm now terrified to use b/c I have 2 5W20 spec cars under extended warranty. Most of my oil is 5 and 10W30 and 40.
 
Joined
Apr 5, 2009
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CA.
 Originally Posted By: BrianWC
Oh, regarding stockpiles. Careful you don't end up like me. I've got a 200+ quart stash that I'm now terrified to use b/c I have 2 5W20 spec cars under extended warranty. Most of my oil is 5 and 10W30 and 40.
I could see that becoming an issue, although you can probably return it a little at a time and get the 5W20 you need. I've been in that boat too. AD
 
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