jtfcons
Washington State (The dry side)
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Joined: 06/02/2004
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Overheard at the fuel pump while filling the RV--
"Hey fool, how come your using so much of our precious resources"
"Oh yeah, can your toilet do 60 mph on the interstate"
I heard recently that scientists now believe that our planet makes oil and I don't mean from dinosaurs. Mars temperature has risen slightly over the last couple of decades, just like earth. Must be human's fault for sending space craft there.
John & Sharon, 2 Daughters, 2 Sons-in-law, 5 GK, 1GGK
Rat Terriers (Twiggy, Annie)
1997 HR Imp., 38CDS, 1 Slide
325 Cummins C8.3Mech., MD3060, EBw/Coast.Sw.,
Toad-2003 GMC Envoy 4X4, Excallibar TB, Pressure Pro TPMS, Henderson Mot. Ctrl. Units
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res08hao
La Mirada, CA
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Joined: 07/15/2002
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eltejano1 wrote:Let's change the direction of the thread a wee bit. What are y'all doing to buy less fuel? Here's what I'm doing - in addition to setting-up our trailer in a permanent campsite.
We are retired and live in the country, 8 miles from town. My wife has a part-time bookeeeping job in the afternoon and goes to town everyday with the little car. I take care of our 22 acres and grow a huge garden. I used to drive my Dodge diesel to town nearly everyday to pick-up stuff at the feed store, tractor dealer, etc - but mostly just to BS with my cronies. I don't go to town anymore. When I need a tractor part, seed, feed or something from the hardware store, I either write a detailed note or call them in advance and my wife picks it up. We are saving significant amounts of fuel that way.
What changes have y'all made to deal with these high prices?
Jack
Trailer PARKED! Truck used when necessary. I would like to drive no more than 20 miles a week, but not often possible.
over the hill and enjoying the view
diesel pickup and 5th wheel trailer.
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CRay
Olympia, WA
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Joined: 11/24/2004
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Hey everybody, I agree completely that our present catastrophic energy crisis is almost totally driven by commodities traders, and they are simply responding to the massive funds available in pension managers and hedge funds treasuries. I have been trying to get this forum's attention on this issue for a couple of weeks. Interested readers may want to look at senate testimony of 5/23 to see how this has come about.See http:// hsgac.senate.gov/public_files/05008/Masters.pdf. This testimony shows that almost all futures topics from Aluminum to Wheat had increased their paper inventory from about 1 years consumption to at least 5 years consumption and some are over 10 years consumption Sugar inventory was 2.3 Trillion Pounds on 1/1/03 and on 3/23/08 (5 1/4 yrs) it was 48.4 Trillion Pounds. There is no doubt that some funny stuff is going on but we will have to hold our breath that the next administration will be able to fix it, because the current administration can't figure it out. OBTW all commodities are up by massive amounts, but oil hits hardest because most of us spend more of our disposable income on oil than any other commodity. And lastly, I looked at Wikipedia on "Futures Trading" and got good info, but it isn't as clear as it could be. I'm unwilling to attempt to educate this audience, some have nothing better to do than flame what they don't comprehend.
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AO_hitech
SF Bay Area
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Joined: 08/09/2004
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CRay wrote:I'm unwilling to attempt to educate this audience, some have nothing better to do than flame what they don't comprehend.
One thing I don't understand (never have) is what benefit does futures trading have? Other than to make money for those doing the trading? What service does it provide?
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crudeman
Texas
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Joined: 06/21/2004
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Hurricaner wrote:My comment was a poor attempt at sarcasm. No one fully understands what is going on with oil futures at this time. One thing is for sure and that is it's being driven by speculators, some trying to hedge against inflation and some are gamblers looking for a quick buck. The world cannot afford 100+ oil at this time and there is just too much of it too warrant the price.
As far as GM is concerned oil can go down to 75 bucks a barrel, which I believe it probably will, and it won't help them one bit. Gas will still be 3 bucks a gallon and people can't and should not drive large pickups and suvs. This is the only smart thing GM has done in 50 years.
Sam
I am assuming the trucks and suv comment is attempt at being funny?
Steve & Pat
Hannah - Sophie
2006 HR Ambassador PDQ
2010 Silverado
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Sea Dog
Ontario Can.
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Joined: 04/15/2001
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CRay wrote: I'm unwilling to attempt to educate this audience, some have nothing better to do than flame what they don't comprehend.
Oh please, please, educate me!
I would give anything to be as informed and as educated as you!
Sheese!!!
Life is short,Death is long,
Take a vacation.
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Camping Hoosiers
Southern Indiana
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Joined: 02/17/2003
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Sea Dog wrote:CRay wrote: I'm unwilling to attempt to educate this audience, some have nothing better to do than flame what they don't comprehend.
Oh please, please, educate me!
I would give anything to be as informed and as educated as you!
Sheese!!!
LOL... mee too
2006 Jayco Eagle 314 BHDS
2001 Dodge QC - 5.9L Gas
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winkyb
Florida
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Joined: 02/02/2008
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This trend is getting better than the Ethanol trend. My head is so full of worldly stuff I am going to hook up the TT this weekend and run away to the woods for a few days.And try to sort all the BS from the world troubles out in my head.And see if I can come up with a plain to fix it.If I get it straight I will let you all know right after I give the red phone in the white house a ring.I think it is only fair to call up there first.
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dturm
Lake County, IN
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Joined: 01/29/2001
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AO_hitech wrote:One thing I don't understand (never have) is what benefit does futures trading have? Other than to make money for those doing the trading? What service does it provide?
For a buiness that uses a commodity (for example Coke or Pepsi use sugar) they can lock in a price in the future so they know what their costs will be. Helps in making good business plans and acts as a hedge against increased costs. The "problem" comes when people trade the commodities just for the opportunity to make money, but that's free enterprise capitalism.
Doug
Doug & Sandy
Kaylee (16-year-old Terrier of some sort)
Winnie 4 1/2 year old golden
Sasha and many others at the Rainbow Bridge
2008 Southwind
2009 Honda CRV
Check out blog.rv.net
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CRay
Olympia, WA
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Joined: 11/24/2004
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AO_hitech wrote:CRay wrote:I'm unwilling to attempt to educate this audience, some have nothing better to do than flame what they don't comprehend.
One thing I don't understand (never have) is what benefit does futures trading have? Other than to make money for those doing the trading? What service does it provide?
Good come back HITech, you are worthy of an answer: Take the Woodland CA rice grower, who somehow scrapes enough $$ together to plant 1000 acres of SactoValley rice in February. He's been in the rice business for a while and feels that his 1000 acres will produce 1 ton each or a 1000 tons, but it won't be harvested till September, but he needs some cash now. He could go the bank and borrow some $$ (and pay interest) or he could call a grain (futures) broker and see what the current (today) price is for October (future) for rice is. He likes the broker's quote for Oct. rice so he sells/buy (contracts to sell) 950 tons of October rice. Broker takes the deal and sends check to farmer. Now the broker turns around and calls Wheatees and asks what they will pay for 950 tons of Oct rice. Wheatees gives a price and the broker likes it and they write a futures contract to sell/buy the rice. So the broker is simply a middle man connecting a future seller with a future buyer and in fact fills an economic need because the selling farmer isn't between a rock and a hard place to sell the crop NOW so that he can replant another crop and the buyer knows that he has raw material in the pipeline that erases a production delay in Oct. Hopefully this very simplified example make sense to you.
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