1. Welcome! Please take a few seconds to create your free account to post threads, make some friends, remove a few ads while surfing and much more. ClutchFans has been bringing fans together to talk Houston Sports since 1996. Join us!

nymex halted gasoline trading

Discussion in 'BBS Hangout' started by robbie380, Aug 30, 2005.

  1. robbie380

    robbie380 ლ(▀̿Ĺ̯▀̿ ̿ლ)
    Supporting Member

    Joined:
    Aug 16, 2002
    Messages:
    23,991
    Likes Received:
    11,166
    jesus christ....its up a f***ing quarter today. they halted because it reached the day limit....we are screwed.
     
  2. A-Train

    A-Train Member

    Joined:
    Jan 1, 2000
    Messages:
    15,997
    Likes Received:
    39
    Should there be a separate forum for b****ing about gasoline prices?
     
  3. robbie380

    robbie380 ლ(▀̿Ĺ̯▀̿ ̿ლ)
    Supporting Member

    Joined:
    Aug 16, 2002
    Messages:
    23,991
    Likes Received:
    11,166
    sorry i just saw it is not the day limit...either way its crazy.
     
  4. bigtexxx

    bigtexxx Member

    Joined:
    Jun 12, 2002
    Messages:
    26,980
    Likes Received:
    2,365
    We've got to build more refineries in this country. The environmentalists need to take a back seat on this issue - they're to blame for not building a new one in the past 30 years.

    Even if Bush agrees to release some of the strategic petrolem reserve we won't have the capacity to refine it if some of the refineries sustained damage from Katrina.
     
  5. ArtV

    ArtV Member

    Joined:
    Jun 25, 2002
    Messages:
    7,005
    Likes Received:
    1,713
    Investment tips...

    Long Term (<5yrs) - VLO (gasoline refinery) Damage assessments are still coming in. #1 just bought #2 to be completed Thursday. Watch for a drop after that but a split is coming soon that should give it some pop followed by another drop. LT though this stock should make in the $16 per share range next year which is insaine.

    Short Term (<1yr) - HD (Home Depot) There are quite a few do-it-yourselfers out there that just got a long list of projects.
     
  6. Kam

    Kam Member

    Joined:
    Jan 16, 2002
    Messages:
    30,476
    Likes Received:
    1,322
    Let's go beat up the guys that did this.
     
  7. robbie380

    robbie380 ლ(▀̿Ĺ̯▀̿ ̿ლ)
    Supporting Member

    Joined:
    Aug 16, 2002
    Messages:
    23,991
    Likes Received:
    11,166

    HD and LOW aren't getting any bounce at all. they were weak before and got even weaker.

    there is a small cap stock called CLHB, Clean Harbor. check it out....does everything that NO will need to clean up.
     
  8. F.D. Khan

    F.D. Khan Member

    Joined:
    Feb 14, 2000
    Messages:
    2,456
    Likes Received:
    11
    Thank you. Finally someone that knows why we can keeping wildcating or opening up reserves and it will not make a difference.

    Laws are so stringent now days that its almost impossible and completely cost ineffective to open up refineries.
     
  9. updawg

    updawg Member

    Joined:
    May 20, 2002
    Messages:
    3,985
    Likes Received:
    166
    I agree, but I have a feeling its not just environmental reasons 100% thats stopping them. Its not in their best interests to do it and lower the price, collusion amongst them. I think gov needs to be involved to make sure there is enough capacity and work through the red tape to get it done. Should have been done long ago, 30 yrs since the last refinery was built and we have to live them doing maintenance whenever they want. Almost, like the Enron saga...
     
  10. ArtV

    ArtV Member

    Joined:
    Jun 25, 2002
    Messages:
    7,005
    Likes Received:
    1,713
    Personally, I'm not in HD - all in VLO. I do think that it should bounce once next earnings. I just don't see how they won't make more money than they thought. But hey - I bought into a company that only made that special fax paper thinking how can they lose money. They did and so did I when fax machines came out that used regular paper.

    Still love VLO though. It will move up and down but the trend is up.
     
  11. TMac640

    TMac640 Contributing Member

    Joined:
    Jan 10, 2005
    Messages:
    5,484
    Likes Received:
    2
    slaughter all wildlife
     
  12. rrj_gamz

    rrj_gamz Member

    Joined:
    Aug 15, 2002
    Messages:
    15,595
    Likes Received:
    198
    Agreed...Plus the relief, minor as it may be, will only be a short-term solution...
     
  13. Dream Sequence

    Joined:
    Mar 23, 2000
    Messages:
    1,134
    Likes Received:
    626
    Actually its in the best interest of the smaller guys to open them for sure since it could bring in so much additional profits. If you are selling 10 gallons at a 5 cent profit but could sell 20 at 4 cents, you would jump at it (overall $ go up). On the other hand, someone thats massive has no interest in seeing a lot of supply since before they were selling say 200 gallons at 5 cents and now would sell 210 gallons at 4 cents (so making overall less $)
     
  14. Dream Sequence

    Joined:
    Mar 23, 2000
    Messages:
    1,134
    Likes Received:
    626
    How much have refinery spreads increased? I'm sure they are up, but I bet they have not increased anywhere near as much as the impact of oil price increases. Therefore, in many ways additional supply is more important just refinery capacity.
     
  15. Ubiquitin

    Ubiquitin Member
    Supporting Member

    Joined:
    Jul 7, 2001
    Messages:
    19,568
    Likes Received:
    14,571
    Wrong. The reason we haven't built any new refineries is because just 7 years ago oil traded at around $8/barrel. The Oil companies would never have paid for the refinery when the prices were low. But, everyone needs a scapegoat. Oil is rising for a magnitude of reasons. And quit complaining, this is Capitalism.
     
  16. Cohen

    Cohen Member

    Joined:
    Oct 1, 1999
    Messages:
    10,751
    Likes Received:
    6

    Can you cite studies?

    If true, it's bizzarre since the average refinery spews 10,000 gallons of waste daily anyway.

    'Oil refineries use and release toxic chemicals that can harm human health and the environment. An average-sized refinery releases over 10,000 gallons of waste daily to air, water and land, not including accidents. Refinery waste includes benzene, a known carcinogen (reported by virtually all refineries); toluene, which may cause central nervous system dysfunctions; xylene, a neurotoxin that may also cause respiratory problems; and heavy metals such as mercury, which harm ecosystems. '
    http://www.environmentaldefense.org/article.cfm?ContentID=1178
     
  17. Cohen

    Cohen Member

    Joined:
    Oct 1, 1999
    Messages:
    10,751
    Likes Received:
    6

    FWIW, that was brief, wasn't it? $20 per is a more reasonable number.
     
  18. Ubiquitin

    Ubiquitin Member
    Supporting Member

    Joined:
    Jul 7, 2001
    Messages:
    19,568
    Likes Received:
    14,571
    The fact remains that even know it is not worth it to build, staff and finance a new refinery. In the short run it will be profitable, but what about in the long run? Forbes hit the nail on the head, and ExxonMobile, Shell and the others know it. Oil is up on pure speculation. And it is going to come back down, just like it did in the 70s and 80s. Doomsday analysts will always exist, but that is no reason to believe them.
     
  19. Ottomaton

    Ottomaton Member
    Supporting Member

    Joined:
    Feb 14, 2000
    Messages:
    19,201
    Likes Received:
    15,371
    The way this worded makes me a little suspicious. Benzine, Xylenes and Toluene are major end products of refineries which then use them as precursors for plastics and synthetic fibers, as well as industrial solvents. In otherwords, people try to make these things. If you wanted to, I suppose you could call everything from the refinery, including gasoline toxic waste products that leave by air,water, or land, like in trucks, boats, and airplanes. Gasoline is a combination of octane and heptane and other trace crap. The MSDS for gasoline states that it causes cancer, is a respratory irritant, and causes central nervous system depression and polyneuropathy. Sounds pretty scary, like the way they describe benzine and tolulene.


    The following wikipedia pages will give you a slightly more circumspect view of tolulene, benzene, and xylenes.

    Wikipedia page on Toluene
    Wikipedia page on Benzene
    Wikipedia page on Xylenes

    Almost every immediate post WWII advance in materials science has it's roots in one of these things. If you want to eliminate them, start by removing all of the plastic from your life and replacing it with bakelite, which itself is the result of the end product of two pretty nasty chemicals, carbolic acid and formaldehyde.

    BTW, for the record, to reach 1970's prices when adjusted for inflation, the price will need to excede $90/barrel for light, sweet crude.
     
  20. KingCheetah

    KingCheetah Atomic Playboy
    Supporting Member

    Joined:
    Jun 3, 2002
    Messages:
    59,079
    Likes Received:
    52,748
    The strangest thing about all of this is the (strong) theory that - oil is naturally produced by the earth, is not a fossil fuel, and is not finite.
    _______________

    The evolution of multicomponent systems at high pressures: VI

    The thermodynamic stability of the hydrogen–carbon system:

    The genesis of hydrocarbons and the origin of petroleum


    link
    __________

    Sustainable oil?

    About 80 miles off of the coast of Louisiana lies a mostly submerged mountain, the top of which is known as Eugene Island...

    link
     

Share This Page