Are we going to see 4 dollars or more a gallon?

[DEDixon 39]

dollar seemingly is going to get very weak... seems oil would get more expensive.

and btw, i'm not talking about shortages or anything of that nature, just oil price as it relates to the dollar so talking about short term (say 1 year). last gas run up (about a year ago) wasn't about shortages, i mean, no lines at the station like in the 70s.

[SuperDuper! 230]

My guess is that there is much more oil around than they want us to know about. It's supply and demand. If we cut back, the prices will go down. I did my part today, and did not get into the car. Paying $3.00 in SoCal these days for regular.

[Malrothien 6]

$1.06/liter here in Vancouver, BC. It has been at that price since last December and has not greatly changed.

[sjr09 155]

It's been going up here on Maui $3.68 Gal.

[alienlovechild 75]

dollar seemingly is going to get very weak... seems oil would get more expensive.

and btw, i'm not talking about shortages or anything of that nature, just oil price as it relates to the dollar so talking about short term (say 1 year). last gas run up (about a year ago) wasn't about shortages, i mean, no lines at the station like in the 70s.

Last fall, we had gas stations with "out of gas" signs and some lines backed up for a while. They closed down some offshore rigs due to a hurricane. It wasn't pretty.

[spookyturtle 9,466]

It will be $4 a gallon again all to soon. As soon as this recession is over around the world, prices will climb again.

[AlHayatZween 2]

yes, prices will go up.

good thing folks traded in their clunkers for equally voracious gas gusslers.

[Ban Hammer 13,394]

It will be $4 a gallon again all to soon. As soon as this recession is over around the world, prices will climb again.

so where are the claims that obama is in bed with the oil industry, like we saw with bush during the $4 a gallon gas?

[Pooky 3,803]

It will be $4 a gallon again all to soon. As soon as this recession is over around the world, prices will climb again.

so where are the claims that obama is in bed with the oil industry, like we saw with bush during the $4 a gallon gas?

President Obama sleeps??!!

Wow!

[spookyturtle 9,466]

It will be $4 a gallon again all to soon. As soon as this recession is over around the world, prices will climb again.

so where are the claims that obama is in bed with the oil industry, like we saw with bush during the $4 a gallon gas?

The claims will start once it get up to $3.50. Nobody complained about Bush at $2.50/gal. Plus Bush was from Texas so that was guilt by association. There aren't any oil wells in Chicago.

[Pooky 3,803]

It will be $4 a gallon again all to soon. As soon as this recession is over around the world, prices will climb again.

so where are the claims that obama is in bed with the oil industry, like we saw with bush during the $4 a gallon gas?

The claims will start once it get up to $3.50. Nobody complained about Bush at $2.50/gal. Plus Bush was from Texas so that was guilt by association. There aren't any oil wells in Chicago.

No, just tons of grease for the wheels

[웃 910]

Edited November 17, 2009 by Confucian

[웃 910]

Dollar Trades Near 15-Month Low on View Rates to Stay Near Zero By Yoshiaki Nohara and Ron Harui

Nov. 17 (Bloomberg) -- The dollar traded near a 15-month low against the currencies of major U.S. trading partners on speculation Federal Reserve officials will today reiterate the central bank's pledge to keep interest rates near zero.

The yen strengthened against 10 of its 16 most-traded counterparts as a rally in stocks lost momentum, damping demand for higher-yielding assets. Australia's currency weakened from near the strongest level in 15 months after minutes from the central bank's most recent meeting cast doubt on a third- straight increase in key lending rates.

"The dollar will continue to be used as a funding currency amid rising risk appetite," said Yoh Nihei, trading group manager at Tokai Tokyo Securities Co. in Tokyo. "The mainstream trend remains intact. The Fed will keep low rates for a while."

The dollar was at $1.4952 per euro as of 1:05 p.m. in Tokyo from $1.4970 yesterday in New York. The yen rose to 133.19 per euro from 133.33. The greenback traded at 89.06 yen from 89.05 yen, after falling to 88.76 yesterday, the lowest since Oct. 9.

The Dollar Index, which IntercontinentalExchange Inc. uses to track the U.S. currency's value against the euro, yen, pound, Canadian dollar, Swiss franc and Swedish krona, traded at 74.979 from 74.894. The gauge lost 0.6 percent yesterday, touching 74.679, the weakest since August 2008.

Fed Chairman Ben S. Bernanke said yesterday in a New York speech that the Fed "will help ensure that the dollar is strong and a source of global financial stability."

Economic "headwinds" of weak lending and labor markets will probably restrain the pace of the U.S. economic recovery, warranting a continuation of low borrowing costs, he said.

'Selling Pressure'

"The dollar will remain under selling pressure after Bernanke stated that the market has got it wrong when it comes to the timing of the implementation of the Fed's exit strategy, implicitly suggesting that the Fed still sees substantial risks to the economic rebound," analysts led by Hans-Guenter Redeker, London-based global head of currency strategy at BNP Paribas SA, wrote in a research note yesterday.

Richmond Fed President Jeffrey Lacker will speak on the economic outlook to the annual retreat meeting of the state's House Appropriations Committee in Richmond, Virginia today. Cleveland Fed President Sandra Pianalto is set to speak at the 11th Annual Ohio Housing Conference today in Columbus, Ohio.

'Psychological' Support

Losses in the dollar were curbed amid speculation investors trimmed bets against the currency after it failed to weaken beyond "psychological" support at $1.50 per euro, said Nobuaki Kubo, vice president of foreign exchange in Tokyo at BBH Investment Services Inc., a unit of New York-based Brown Brothers Harriman & Co.

"It's probably some position-adjustment buying of dollars," Kubo said. "The markets look like they'll consolidate for now." Support refers to a level where buy orders may be clustered.

Futures traders reduced bets the dollar will fall versus seven major currencies, according to data from the Washington- based Commodity Futures Trading Commission. The difference in the number of wagers by hedge funds and other large speculators on a drop in the U.S. currency compared with those on an advance -- so-called net shorts -- was 164,360 on Nov. 10, compared with net shorts of 175,462 a week earlier.

The yen advanced as the Nikkei 225 Stock Average reversed earlier gains to fall 0.5 percent, paring demand for higher- yielding assets. The MSCI Asia Pacific Index of regional shares dropped 0.2 percent after earlier rising 0.5 percent.

'Open Question'

"Japan's stocks are trailing other equity markets, reflecting investors' reservations about the nation's economy and deflation," said Toshiya Yamauchi, manager of the foreign- exchange margin-trading department at Ueda Harlow Ltd. in Tokyo. "As the global economic outlook remains uncertain, investors are unwinding some positions on higher-yielding assets funded in the yen and the dollar."

Australia's central bank said the pace of interest-rate increases is an "open question" as it balances the risk of keeping borrowing costs too low against an economy that may cool as government stimulus abates.

"If economic conditions evolved as expected, further gradual adjustment in the cash rate would most likely be appropriate over time," officials said in minutes released today in Sydney of their Nov. 3 meeting, at which they raised the overnight cash rate target to 3.5 percent.

Australia's dollar fell to 93.36 U.S. cents from 93.69 cents yesterday, when it reached 94.06 cents, the strongest since Aug. 1, 2008.

[scandal 951]

Lots of interest in trading new energy products, that's for sure!

ICE Announces 40 New OTC Cleared Energy Contracts

By: PR Newswire

Nov. 10, 2009 01:24 PM

ATLANTA, November 10 /PRNewswire/ -- IntercontinentalExchange, Inc. (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, announced today the introduction of 40 new OTC cleared energy contracts for North American natural gas, power, natural gas liquids and global oil products. (https://www.theice.com/publicdocs/clear_europe/circulars/C09096.pdf) These cleared OTC swaps and options will be available for the trade date of Monday, December 7, 2009. The new cleared oil contracts include a differential calendar swap contract and a differential trade-month swap contract based on the Argus Sour Crude Index (ASCI). The two ASCI swap contracts (https://www.theice.com/publicdocs/clear_europe/circulars/C09095.pdf) will be available Friday, November 13.

With the products announced today, ICE offers a total of 280 cleared OTC energy contracts, including nearly 190 new OTC contracts since the launch of ICE Clear Europe in November 2008.

The new cleared OTC contracts available beginning December 7 are:

Natural Gas

-- Platts IF Columbia Gulf Mainline Basis Swap (CGB)

-- Platts IF EP-Permian Index Swap (PEI)

-- Platts GDD EP-Permian Swing Swap (PES)

-- Platts IF NGPL-Texok Index Swap (NTI)

-- Platts GDD NGPL-Texok Swing Swap (NTS)

-- Platts IF NWP-Rockies Index Swap (RSI)

-- Platts IF NWP-Sumas Index Swap (NIS)

-- Platts IF Waha Index Swap (WAI)

-- Platts GDD Waha Swing Swap (WAS)

Power

-- PEPCO Zone DA LMP, Peak Daily (PPE)

-- PEPCO Zone DA LMP, Peak Month (PPF)

-- PEPCO Zone DA LMP, Off-Peak Daily (PPG)

-- PEPCO Zone DA LMP, Off-Peak Month (PPH)

-- Mid C RT Mini Peak Monthly (MDF)

-- Mid C RT Mini Peak Option (MDF)

Natural Gas Liquids

-- Natural Gasoline, Conway, FP for OPIS (NGC)

-- Propane, Mt Belvieu - ENT (non-TET) FP for OPIS BALMO Swap (PRO)

-- Propane, Mt Belvieu - LDH (TET) FP for OPIS BALMO Swap (PRM)

-- N-BUTISO, Mt Belvieu - ENT FP for OPIS BALMO Swap (NBJ)

Global Oil and Refined Products

-- Argus Sour Crude Index (ASCI) Diff Calendar Swap (TAB)*

-- Argus Sour Crude Index (ASCI) Diff Trade-Month Swap (TOB)*

-- WTI Crude Oil 1-Month Calendar Spread Option (TIA)

-- WTI Crude Oil 12-Month Calendar Spread Option (TIZ)

-- Brent Crude Oil 1-Month Calendar Spread Option (BRM)

-- Brent Crude Oil 12-Month Calendar Spread Option (BRZ)

-- Gasoil 1-Month Calendar Spread Option (GOA)

-- Platts Jet Fuel Cargoes CIF NWE vs ICE Gasoil BALMO Swap (JES)

-- Platts 3.5% Fuel Oil FOB MED Swap (FOM)

-- Platts 3.5% Fuel Oil FOB MED BALMO Swap (FON)

-- Platts 1% FOB Barges RDAM BALMO Swap (FOC)

-- Argus Eurobob Oxy FOB Rotterdam Barges Swap (AEO)

-- Argus Eurobob Oxy FOB Rotterdam Barges BALMO Swap (AEP)

-- Argus Eurobob Oxy FOB Rdam vs Brent 1st Line BALMO Swap (Crack Spread)

(AES)

-- Platts Fuel Oil 1% CIF Med Cargo Swap (CIF)

-- Platts Fuel Oil 1% CIF Med Cargo BALMO Swap (CIG)

-- Platts Fuel Oil 1% NYH versus 1% FOB NWE Cargo Swap (FOH)

-- Brent 1st Line BALMO Swap (BSQ)

-- ICE Gasoil 1st Line BALMO Swap (GSQ)

-- Argus Biodiesel RME FOB RDAM Swap (ABI)

-- Argus FAME 0 Biodiesel FOB Rotterdam Swap (FAM)

* The two ASCI swap contracts will be available Friday, November 13.

[Dakine 26]

Already $406.99 here in paradise!