< $70 oil

[spartonboat1]

Well, many of predicted that sub-$70 oil would happen and I think it got under $50 for abit per WSJ I was reading. Then, what is interesting, is that there are those out there with positions expecting to see $120-140 by March 09. However, predictions are that it will reach $65 by then, which has got to be tough if you're short at the $120-140.

I saw this happen in real time in the early '80's...was at $30, was predicted to go to $50, then the bottom dropped out for all of '82 and it dropped to $15 for quite awhile. Doubt it will that low again. I saw bankrupties of well to do, and some suicides, when they spent themselves into debt expecting $50. Lots of rigs were on their side in TX about then.

Had $1.74 gas around the corner this weekend in GR, MI.

Glad to say that in MI Kellogg's is investing close to $40M in downtown Battle Creek, for new research facilities. Sure wish they'd bring their IT back from Elmhurst, IL. Plus BC is getting a new solar panel plant. Hope the credit crisis doesn't kill solar cell sales.

Good Gud a'mighty, feds says $7.4T is ok to spend...can you spell inflation? The velocity of money has to come back I say (you get money, you spend money).

Sandbar for now...have a great Thanksgiving you all.

[ThirdHatt]

I'm just glad it made it back to $50/barrel this year. I never thought it would happen only a few months after $146/barrel. Now is the time to fill up the boats guys!

I wonder why my wholesale supplier was still $2.67 last week when oil was $51/barrel. He was under $5/gallon in mid-summer when oil was $140/barrel, so shouldn't it be close to $2?

[Boatsb]

I'm just glad it made it back to $50/barrel this year. I never thought it would happen only a few months after $146/barrel. Now is the time to fill up the boats guys!

I wonder why my wholesale supplier was still $2.67 last week when oil was $51/barrel. He was under $5/gallon in mid-summer when oil was $140/barrel, so shouldn't it be close to $2?

Speculation and market conditions will keep diesel above the mark for a wile. While gasoline use drops Diesel remains pretty steady.

[ThirdHatt]

I just visited my wholesale fuel supplier to pay for some gasoline for a friend's boat that I fueled up recently ($1.77/gal) and he quoted me $2.25 as today's price for diesel. He said that it has gone up each of the last several days. I told him I think it's probably time to fill the boat up because I doubt it will get much better and I know it will get worse the only question is when. He was very kind and told me to write the $2.25 he quoted me on the ticket if I full up this weekend and he'll bill me at the $2.25. I can't ask for more than that!

This is one of the last "honor system" businesses that I know of. He has an inconspicuous fuel dock with no signs at all that is still self-serve for his clients. Fill up the boat, write how many gallons you received on a ticket with your name and leave it in a box at the pump. He mails you a bill for your fuel. I've been fueling my boats there for about 15 years and luckily nobody has abused the privelege so it is still self-serve as it always has been. It is good to know that trust still exists these days! Just try that in a big city! LOL

[yachtsmanbill]

Hey BB... that is just plain incredible !!! ws