gas price prediction for the summer and further?

[theholycow]

Originally Posted by JanGeo

Yeah I hope so - 2 million barrels a day now ramping to 22 milllion a day I think was the numbers . . . without any opec price controls.

Hooray! That could be a big help for me.

You should get a wood stove however - put the heat where you want it and burn a GREEN energy fuel source.

I have one. I can't afford a chimney. I wish I could, I love wood stoves.

The first two years in my house I often heated the whole thing by overdriving my little steel fireplace (which is intended for ambiance). Constantly feeding cut-up pallets into it made it produce enough heat that I sometimes had to quit and open windows even though my oil heat was turned off. I did warp parts of the steel fireplace a little. It was a huge amount of work collecting and processing pallets.

My neighbor just installed a wood stove. He asked if he could harvest the fallen wood in my yard, I told him to go ahead...I'm never going to do it.

A few weeks ago there was an ad in Craigslist free stuff section from someone who bought a house that had 10 cords of stacked wood he wanted gone. I should have gone to get some. Actually, I should have notified you, if I had thought you burn wood...it was a lot closer to you than to me.

[GasSavers_Scott]

In the last couple of months here in Maryland, I saw gas go up to 2.60, I just got back from my Dad's in Los Angeles where gas was 3.01 If diesel is any indicator, diesel used to be less than regular 6 months ago, its now over the price of premium out here.

My cousin out here heats her house for around 3 to 400 a year on a wood stove in a 2 story 1890's house. She buys bulk wood normally 5 or 6 cords at a time from local guys running around in pick ups. Her last 3 places all had wood stoves, the trick she uses is the "Dampen Down" technique, you close the exit flue to just a crack and the entrance flue the same. Take a candle or cigarette and make sure smoke is still being drawn in so you dont back smoke into the house.

Normally at night before you go to bed you load in 3 to 4 logs and it will burn 8 hours on just that, then in the morning you have coals left for a days new wood.

My 1939 house still has the coal boiler converted to oil in the 50's, I plan to convert it to natural gas before winter. I burn 30 dollars worth of diesel a week during winter, diesel makes more heat than fuel oil, besides, my 275 gallon tank rusted out 2 years ago so I just buy 10 gallons a week of diesel.

[shatto]

George Fontanills, who does trades with lots of zeros in them, says oil will be at $100.00 by next year. I tend to believe him, and people who use advanced forcasting tools like Elliott Wave, who concur.

That's why I'm looking to add CNG capability to my truck or maybe replace it with a Honda GX. That fuel is cheap.

[theholycow]

Originally Posted by Scott

diesel makes more heat than fuel oil

Where did you hear that? AFAIK the only difference between diesel and #2 fuel oil is dye and filtering.

[101mpg]

THC is right - diesel fuel is identical except it has dye added so you have to pay a road tax. You are not allowed by the feds to put fuel oil into a diesel vehicle, but you CAN put diesel fuel into a home heater, strangely enough.

The newer diesel fuels have a lower sulfur content but home heating oil is NOT required to have the lower sulfur content.

I'm predicting $3+ gas by Valentine's, likely sooner.

[GasSavers_Scott]

Maybe it was my old tank, but I could watch my temp guage with heating oil verses diesel, diesel takes an hour to heat the radiators, heating oil took an hour plus if not 2. The 1972 tank had a inch of sludge on the bottom, maybe it was contaminated? I know heating oil has a preservative and diesel does not, so the heating oil guy tells me. The heating oil guy charges a minimum 300 dollars for 100 plus gallons, so I just buy 10 gallons a week of diesel.

Now about the rise in fuel prices, if you have watched today's financial report Dubai is in trouble, they are the last and the smallest of the United Arab Emmaritz and they claim they are running out of oil. So oil going to 100 a barrell seems possible. The people who set prices know 5 dollars is the American breaking point, but there are numbers like 3.50, 4.00, and 4.50 that are prettty close. We shall see.

[JanGeo]

Originally Posted by theholycow

Hooray! That could be a big help for me.



I have one. I can't afford a chimney. I wish I could, I love wood stoves.
...

A few weeks ago there was an ad in Craigslist free stuff section from someone who bought a house that had 10 cords of stacked wood he wanted gone. I should have gone to get some. Actually, I should have notified you, if I had thought you burn wood...it was a lot closer to you than to me.

I don't have a wood stove but my brother burns wood and a few of my friends do also.

Black pipe chimney should be fairly cheep but if you could tie into the brick chimney or run one out the outside of the house depending upon how tall the house is.

[bowtieguy]

Originally Posted by Scott

The people who set prices know 5 dollars is the American breaking point...

what is your definition or consequences of the "breaking point"? i mean, certainly it will still be consumed at that point and price. but does this mean a mass exodus of the ICE in regard to transportation and/or recreation?

[civic94]

Originally Posted by bowtieguy

what is your definition or consequences of the "breaking point"? i mean, certainly it will still be consumed at that point and price. but does this mean a mass exodus of the ICE in regard to transportation and/or recreation?

im pretty sure scott meant that at 5 a gallon, americans will crumble... cities and public transportation will boom, suburbs will die. housing prices in the suburbs will drop even more simply because it takes a gallon of gas to go to the city to work, and another gallon of gas to come back, and times that by the amount of family members that have cars and need to travel to whatever they need to go.

at 4 a gallon last summer, we all seen stories of people buying a pos 93 geo metro for 8000, V6 and 8's suv's dropping in price rapildy, and 10 year old Japanese hybrids being sold for their brand new price 10 years ago.

[FrugalFloyd]

I've seen replies across the spectrum from Iraq increasing production and prices going down, to Dubai running out of oil and a repeat of 2008.

AFAIK, Dubai simply overreached its credit, and is in no danger of running out of oil. Also AFAIK, Iraq has no realistic prospects of quickly increasing its production. Do the posters of these claims have any links to support the claims?

I googled "Iraq increasing oil production" and found this story, which says Iraq plans to increase its oil production to 6 million barrels/day (not 22 million), but over an 80 month time period. That's nearly 7 years in the future, not next year.

That tells me any hope of lower oil prices is a pipe dream, and we should be expecting higher prices.