Oil price over $147 for the first time-now above $80

[Ed Mahmoud]

Oil has dropped nearly 12% in two days, down to around $100/bbl. Gold has dropped similarly. Bubble pop, anyone?

My boss, who owns a small oil company, has been thinking $80 is the more realistic number based on supply and demand, all that basic market stuff.


He'll still make money, and it'll lessen fears of a recession, and I don't get nervous about job security until oil is well below $50, so its ok with me.

[gtalum]

My boss, who owns a small oil company, has been thinking $80 is the more realistic number based on supply and demand, all that basic market stuff.

I have seen many analysts estimate anywhere between $60-$80/bbl, so that's reasonable. If the dollar hadn't collapsed so spectacularly in value, we'd be talking $50/bbl.

[DanKellFla]

All I can say is 'phew.' Of course, gas prices fall much much slower than they rise.

Can we now get serious about alternative energy please?

Hopefully, public transportation will improve in the places that need it.

[vbhoutex]

All I can say is 'phew.' Of course, gas prices fall much much slower than they rise.

Can we now get serious about alternative energy please?

Hopefully, public transportation will improve in the places that need it.

I hope other cities do better than Houston has!!! In a city of 5M we have one measly straight shot 7.5 mile line and buses. Of course if you call mass transportation miles and miles of concrete that gets wider and wider then we have it.

[Cryomaniac]

Oil has dropped nearly 12% in two days, down to around $100/bbl. Gold has dropped similarly. Bubble pop, anyone?

It's started recovering now, back at $102.70 according to kitco.com.

[Ed Mahmoud]

All I can say is 'phew.' Of course, gas prices fall much much slower than they rise.

Can we now get serious about alternative energy please?

Hopefully, public transportation will improve in the places that need it.

I hope other cities do better than Houston has!!! In a city of 5M we have one measly straight shot 7.5 mile line and buses. Of course if you call mass transportation miles and miles of concrete that gets wider and wider then we have it.

If they ran a light rail line along the BNSF right of way on Hardy, with a station near BW-8 or FM 1960, a transfer point downtown, and another line to the Galleria, I'd be all over it.


I tried the bus from Kuykendahl Park & Ride to the Galleria for a while, it was $7/round trip back around 2003, and despite use of the I-45 HOV lane, all the local stops around Greenway Plaza, and again in downtown, and the use of the US 59 main lanes, means I can drive faster to and from work in the ordinary highway lanes and never have to wait in the rain at an uncovered stop for the bus. And I always get a seat in my car. If a bus broke down or something else jammed up the schedule, I'd spend almost 2 hours on my feet.


BTW, I can't believe buses save that much fuel or cut much pollution, when I see buses with 3 or 4 riders beclching diesel smoke everywhere.


The current light rail line runs from one place, where people work and recreate, downtown and the baseball park, to another place where people work and recreate, the Medical Center and the football stadium. A line that actually ran to where people lived would be a wonderful thing.

[coriolis]

The busses are pretty good in Williamsport. They go all over and have a decent schedule. I can get a day pass and ride to and from work and run errands at lunch time for $2. I don't think that they would survive without gov't funding.

Driving would be $5 a day for gas.

In Pennsylvania, there is a major controversy going on about adding tolls to Interstate 80 which goes through our region. Supposedly the revenue would somehow provide funding for public transit. The locals are up in arms about it. I'm torn, because in order to travel to many places out of town, I'd use I-80, so I'd be against the tolls like most people around here. On the other hand, I like commuting by bus and the route to my town is the first to get cut when funding is short.

I'm sure that this is typical of the conflicting interests all over the country when it comes to energy conservation, costs, and lifestyles.

[Cryomaniac]

Not bashing, but that ain't a bubble burst

[gtalum]

Indeed, my call was premature. It happens.

[Cryomaniac]

Just for info, the price is now $105.75, an increase of $4.53.

[Matt-hurricanewatcher]

Jesus, Gas prices all over Portland are around 3.49 for the cheap stuff. What the heck is going on? I think it will rise close to $4.00 by this summer and that will cause a full fledge depression around the world. I'm sorry, but between this corn,wheat shortest and gas prices there is no way out of it, unless we drill big time.

[Ed Mahmoud]

As a guy that works in the oil field, and was a reactor plant operator in the Navy, I can get by either way.

[Cryomaniac]

Well the current price is 110.40 / barrel.

[Cryomaniac]

Current oil price from kitco.com = $112.01

http://www.kitco.com/market/

[cycloneye]

Oil Market closes at new record $113.79



Here is the new record closing of the Oil Market.

[feederband]

Oil Market closes at new record $113.79



Here is the new record closing of the Oil Market.

Great ...Gas went up a nickel yesterday...

[dizzyfish]

I saw diesel over $4 gal this weekend.


I really feel for the independent truckers.

[Cryomaniac]

Diesel here is about £1.15 / litre, or roughly $8.50 / Gallon.

[dizzyfish]

Geeze!

[Cryomaniac]

You can probably explain some of that by the exchange rate, and we pay a lot more tax on fuel.

For comparison with diesel, Gas is £1.05 / litre.