Yikes.......$104 a Barrel !!!!!

Discussion in 'The Tiki Bar' started by Dave S, Mar 5, 2008.

  1. comsnark

    comsnark New Member

    Apr 10, 2007
    NJ Shore
    SeaRay SunSport
    5.7LX
    Gas forcasts. . .. probably not as accurate as weather forcasts.
     
  2. fc3

    fc3 Just another eclectic geek TECHNICAL Contributor

    Nov 12, 2006
    Northern NJ
    1999 Sea Ray 330DA
    Twin 7.4 MPI (310 propshaft HP) V-drives
    Twin Mercury Marine marinized 7.4L L-29 V8s
    Cast iron block w 4-bolt mains
    Over a month ago I said "$2-2.50" by summer. I'm sticking with that and planning accordingly.

    Best regards,
    Frank
     
  3. Hampton

    Hampton Air Defense Dept TECHNICAL Contributor

    Nov 26, 2006
    Panama City, Fl
    2008 44 Sedan Bridge
    Cummins QSC-500's
    Straight Drives
    "The gasoline producers are trying to make some money in the wake of a dismal 2008. When crude prices were so high in the first half of last year, refining margins — the difference between what refiners pay for crude and what they get for products they make from oil — were dismal. In the latter half of the year, margins improved as oil prices receded, but refiners continued to struggle because people were simply driving less and buying less gasoline."

    These are true statements - by percentage - which is how they measure success. Actual profits in straight dollars and cents were probably not off at all, but dropped by percent to 1/2 of the previous year when put in terms of %profit compared to crude costs.
     
  4. fc3

    fc3 Just another eclectic geek TECHNICAL Contributor

    Nov 12, 2006
    Northern NJ
    1999 Sea Ray 330DA
    Twin 7.4 MPI (310 propshaft HP) V-drives
    Twin Mercury Marine marinized 7.4L L-29 V8s
    Cast iron block w 4-bolt mains
    Do you know that to be true? I understand that refiners were badly hurt by the rising crude prices since they had to pay more but getting increased prices lagged and they ate a lot of profit margin.

    I did a very quick check on the web. Valero has no oil wells. They refine and retail. Second quarter results, when crude was very high were reported as, "second quarter 2008 income from continuing operations of $734 million, or $1.37 per share." Third quarter, when prices started to come down was reported as, "third quarter 2008 income from continuing operations of $1.2 billion, or $2.18 per share." They report fourth quarter on 27 Jan.

    Best regards,
    Frank
     
  5. Hampton

    Hampton Air Defense Dept TECHNICAL Contributor

    Nov 26, 2006
    Panama City, Fl
    2008 44 Sedan Bridge
    Cummins QSC-500's
    Straight Drives
    No, just pisses me off (probably the key word).
     
  6. MonacoMike

    MonacoMike Well-Known Member PLATINUM Sponsor

    Sep 15, 2009
    Indiana lakes and Lake Michigan
    2000 Cruisers 3870
    97 270 Sundancer
    85 Sea Ray Monaco 197
    8.2 Mercs,
    7.4 BII
    260hp Alpha 1
    We should be enjoying the half price oil right now... LOL

    MM
     
  7. boatman37

    boatman37 Well-Known Member

    Jun 6, 2015
    pittsburgh
    2006 Crownline 250CR
    Previous: 1986 Sea Ray 250 Sundancer
    5.7 Merc
    We were at 3.09 a gallon last week. It's 2.89 today so definitely an improvement.
     
  8. Woody

    Woody Well-Known Member

    Nov 20, 2007
    N. Wisconsin/Lk Superior
    2005 420DA
    Cummins 6CTA8.3
    WV 320 Dancer likes this.
  9. WV 320 Dancer

    WV 320 Dancer Active Member SILVER Sponsor

    170
    Oct 28, 2018
    2003 Sea Ray Sundancer 320
    Twin 350 MAG - V Drive
    $2.25 for regular in KY & TN...
     
  10. juggernaut1

    juggernaut1 Active Member

    827
    Apr 19, 2015
    Perth, Western Australia
    2006 38 Sundancer
    8.1S / ZF 63V Drives
    Filled up the other day - $1.82 per litre. You guys in the US have got it good :)
     
  11. MonacoMike

    MonacoMike Well-Known Member PLATINUM Sponsor

    Sep 15, 2009
    Indiana lakes and Lake Michigan
    2000 Cruisers 3870
    97 270 Sundancer
    85 Sea Ray Monaco 197
    8.2 Mercs,
    7.4 BII
    260hp Alpha 1
    That is not the markets fault, it is the government the people have chosen.

    MM
     
  12. juggernaut1

    juggernaut1 Active Member

    827
    Apr 19, 2015
    Perth, Western Australia
    2006 38 Sundancer
    8.1S / ZF 63V Drives
    It's a few things actually. Cost of fuel to the supplier or reseller, type of fuel available in the area (95 RON), lack of competition generally for marina fuels in the area (there's only one supplier) economies of scale between the markets, exchange rates between our countries, and specific taxes on the fuel in our country.

    Only the last point is probably relevant to your comment regarding the government and the rest are market based.
     
    Last edited: Nov 16, 2018
  13. MonacoMike

    MonacoMike Well-Known Member PLATINUM Sponsor

    Sep 15, 2009
    Indiana lakes and Lake Michigan
    2000 Cruisers 3870
    97 270 Sundancer
    85 Sea Ray Monaco 197
    8.2 Mercs,
    7.4 BII
    260hp Alpha 1
    Most of all you pointed out are affected by government.

    "type of fuel available in the area (95 RON)" bet the government is involved in that one...

    "lack of competition generally for marina fuels in the area" Why no competition? Maybe government?

    "exchange rates between our countries" Reeks of government...

    Government has their greedy fingers in everything, in the states I have never heard of a single person that wants ethanol contaminated gasoline but government gave it to us. LOL

    MM
     
  14. sbw1

    sbw1 Well-Known Member

    Oct 10, 2006
    West Michigan
    This is listed in my signature
    This is listed in my signature
    You've never spoken with an Iowa farmer. They love e10, e15 and any higher e.
     
  15. MonacoMike

    MonacoMike Well-Known Member PLATINUM Sponsor

    Sep 15, 2009
    Indiana lakes and Lake Michigan
    2000 Cruisers 3870
    97 270 Sundancer
    85 Sea Ray Monaco 197
    8.2 Mercs,
    7.4 BII
    260hp Alpha 1
    In their heart of hearts they don't want it ruining their tools and generators etc. either, but they just the money from the government forcing their fellow countrymen to purchase their product.

    MM
     
  16. sbw1

    sbw1 Well-Known Member

    Oct 10, 2006
    West Michigan
    This is listed in my signature
    This is listed in my signature
    Farms run on diesel not e10. So, not worried about their tools, just their wallets.
     
  17. MonacoMike

    MonacoMike Well-Known Member PLATINUM Sponsor

    Sep 15, 2009
    Indiana lakes and Lake Michigan
    2000 Cruisers 3870
    97 270 Sundancer
    85 Sea Ray Monaco 197
    8.2 Mercs,
    7.4 BII
    260hp Alpha 1
    Trust me on this, the big stuff runs on diesel, but not the small stuff, similar to the diesel boat owner does not have a diesel outboard dinghy...

    MM
     
  18. JVM225

    JVM225 Well-Known Member

    Apr 8, 2008
    Farmingdale, NY
    2002 410 Sundancer, Monaco Edition.
    3126 Cats.
    Figures: I converted to gas heat a year and a half ago.
    Well, at least I’m enjoying the price break at the pump.
    Thank you Mr. President!
     
  19. juggernaut1

    juggernaut1 Active Member

    827
    Apr 19, 2015
    Perth, Western Australia
    2006 38 Sundancer
    8.1S / ZF 63V Drives
    95 RON is probably supply demand. Only used 98 in my cars. In my modified cars I would by avgas until banned and wished E85 was available at every servo.

    Lack of competition likely due to exclusive distribution rights between the fuel company and the reseller.

    Exchange rates are set by banks and currency traders.

    Ethanol fuel ....would love to have E85 readily available.
     
  20. MonacoMike

    MonacoMike Well-Known Member PLATINUM Sponsor

    Sep 15, 2009
    Indiana lakes and Lake Michigan
    2000 Cruisers 3870
    97 270 Sundancer
    85 Sea Ray Monaco 197
    8.2 Mercs,
    7.4 BII
    260hp Alpha 1
    Why would you want e-85? What would you use it in?

    MM
     

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