The Coming Oil Crash - $50-30 barrel oil

[Cracker]

I've seen gas in the $2.40's here in Houston.

What part of town? Lowest I've seen of late is $2.68.

 

[BadCo]

How did the market do today?............LOL

 

[Dante]

good to know maxy.... and good news

 

[TTinCO]

I want in on this baby......How about $60 before $120?

Bumpski

I'm 100% serious-and the $$$ is open ended to an extent. You name it.

 

[Brooklynbomber]

I want in on this baby......How about $60 before $120?

I doubt it will reach $60 but there still may be some de-leveraging in the system, so let's stick to $50/$150

as far as the amount how does a nickel sound?

I'm assuming we are talking the NYMEX Brent Crude future

 

[maxdemo]

absolutely but make it $100 - fifty is a waste of time. Please confirm

Brock and SS since you guys are so sure you can have some too

As far as never hitting $250, I would wager on that too, but the US Dollar will probably not be around in the current form in the 2-5 years it takes for that to happen

Let me get this straight....u 1st said it would hit $250 before $50.00...sio I gave u $100 off YOUR estimate...now u want to make it $100.00...to make a bet.

OK i'll play along w/ your goofy economics...I say it hits $50.00 per in intra day trading before it hits $100.00

what do u want o bet?? Please respond within the next hour

 

[TTinCO]

How about 55/125?

 

[Brooklynbomber]

Let me get this straight....u 1st said it would hit $250 before $50.00...sio I gave u $100 off YOUR estimate...now u want to make it $100.00...to make a bet.

OK i'll play along w/ your goofy economics...I say it hits $50.00 per in intra day trading before it hits $100.00

what do u want o bet?? Please respond within the next hour

by $100 I meant the bet, instead of your original $50

$50 or $150 intraday.....for $100

goofy economics huh

 

[Brooklynbomber]

How about 55/125?

that is fine, so long as we use the closing price versus intraday

 

[maxdemo]

by $100 I meant the bet, instead of your original $50

$50 or $150 intraday.....for $100

goofy economics huh

Sure your on...:toast:


Can I get a witness

 

[TTinCO]

that is fine, so long as we use the closing price versus intraday

Closing price is fine with me-and yes, you had the right index.

Nickel?

 

[Brooklynbomber]

$500 tt - you're on, you too max

 

[maxdemo]

<TABLE border=0 cellSpacing=1 cellPadding=4 bgColor=#d2e1e8><TBODY><TR><TD align=left>PETROLEUM ($/bbl)

</TD></TR><TR><TD align=middle><TABLE border=0 cellSpacing=2 cellPadding=2 width="100%"><TBODY><TR align=right><TD> </TD><TD>PRICE*</TD><TD>CHANGE</TD><TD>% CHANGE</TD><TD>TIME</TD></TR><TR bgColor=#ffffff align=left><TD>Nymex Crude Future</TD><TD align=right>73.52</TD><TD align=right>-1.02</TD><TD align=right>-1.37</TD><TD align=right>18:52</TD></TR><TR><TD align=left>Dated Brent Spot</TD><TD align=right>69.58</TD><TD align=right>-5.22</TD><TD align=right>-6.98</TD><TD align=right>10/15</TD></TR><TR bgColor=#ffffff><TD align=left>WTI Cushing Spot</TD><TD align=right>74.54</TD><TD align=right>-4.09</TD><TD align=right>-5.20</TD><TD align=right>10/15</TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE>

 

[texansfan]

What part of town? Lowest I've seen of late is $2.68.

Looks like mostly the Cullen area.


<TABLE class=PriceTable style="BORDER-BOTTOM: 0px" cellSpacing=0 width="98%"><TBODY><TR><TD class=selected>Regular Gas</TD><TD class=menu>Midgrade</TD><TD class=menu>Premium</TD><TD class=menu>Diesel Fuel</TD></TR><TR class=Sidebarheader><TH colSpan=4>Lowest Regular Gas Prices in the Last 48 Hours</TH></TR></TBODY></TABLE><TABLE class=PriceTable cellSpacing=0 width="98%"><TBODY><TR class=DetailTableHeader><TH width=35>Price</TH><TH width=150 colSpan=2>Station</TH><TH width=75>Area</TH><TH width=75>Time</TH><TH width=75>Thanks</TH></TR><TR class=PTableRow><TD class=PColLow rowSpan=2> </TD><TD class=PStation align=left>Food Mart </TD><TD class=PFind vAlign=top rowSpan=2>
</TD><TD class=PList width=75 rowSpan=2>Houston - South</TD><TD class=PList rowSpan=2>Tue
6:00 PM</TD><TD class=PList rowSpan=2>armstrmb
</TD></TR><TR class=PTableRow><TD class=PAddress>Cullen & E Orem </TD></TR><TR class=PTableRow><TD class=PColLow rowSpan=2> </TD><TD class=PStation align=left>Texaco </TD><TD class=PFind vAlign=top rowSpan=2>
</TD><TD class=PList width=75 rowSpan=2>Houston - South</TD><TD class=PList rowSpan=2>Tue
7:45 PM</TD><TD class=PList rowSpan=2>armstrmb
</TD></TR><TR class=PTableRow><TD class=PAddress>Cullen & Kilkenny </TD></TR><TR class=PTableRow><TD class=PColLow rowSpan=2> </TD><TD class=PStation align=left>Phillips 66 </TD><TD class=PFind vAlign=top rowSpan=2>
</TD><TD class=PList width=75 rowSpan=2>Houston - South</TD><TD class=PList rowSpan=2>Tue
6:00 PM</TD><TD class=PList rowSpan=2>armstrmb
</TD></TR><TR class=PTableRow><TD class=PAddress>Cullen & Holloway </TD></TR><TR class=PTableRow><TD class=PColLow rowSpan=2> </TD><TD class=PStation align=left>Mobil </TD><TD class=PFind vAlign=top rowSpan=2>
</TD><TD class=PList width=75 rowSpan=2>Houston - South</TD><TD class=PList rowSpan=2>Tue
6:00 PM</TD><TD class=PList rowSpan=2>armstrmb
</TD></TR><TR class=PTableRow><TD class=PAddress>9421 Cullen Blvd & Wilmington St </TD></TR><TR class=PTableRow><TD class=PColLow rowSpan=2> </TD><TD class=PStation align=left>Costco </TD><TD class=PFind vAlign=top rowSpan=2>
</TD><TD class=PList width=75 rowSpan=2>Houston - West</TD><TD class=PList rowSpan=2>Tue
10:11 PM</TD><TD class=PList rowSpan=2>Corliss
</TD></TR><TR class=PTableRow><TD class=PAddress>1150 Bunker Hill Rd & I-10 (Save 3% w/Costco Amer Express True Earnings Card)</TD></TR><TR class=PTableRow><TD class=PColLow rowSpan=2> </TD><TD class=PStation align=left>Costco </TD><TD class=PFind vAlign=top rowSpan=2>
</TD><TD class=PList width=75 rowSpan=2>Houston - NW</TD><TD class=PList rowSpan=2>Tue
10:11 PM</TD><TD class=PList rowSpan=2>Corliss
</TD></TR><TR class=PTableRow><TD class=PAddress>12405 Gessner & Mills Rd (Save 3% w/Costco Amer Express True Earnings Card)</TD></TR><TR class=PTableRow><TD class=PColLow rowSpan=2> </TD><TD class=PStation align=left>Citgo </TD><TD class=PFind vAlign=top rowSpan=2>
</TD><TD class=PList width=75 rowSpan=2>Houston - South</TD><TD class=PList rowSpan=2>Tue
6:00 PM</TD><TD class=PList rowSpan=2>armstrmb</TD></TR></TBODY></TABLE>

 

[TTinCO]

These people that spend an hour in line at Costco to save 2 cents a gallon crack me up.

 

[BadCo]

Yeah I'm cheap but not neurotic.

My wife says,gas is ten cents cheaper at smokey point and I say for every 10 gallons you save a dollar........BFD

 

[bellyputter]

I handle my father's oil & gas income(royalty), and last month(Sept) it hit an all-time high. I will bet in 6 months it is reduced in half.

 

[xpanda]

LMFAO!

Oil will reach $250 bbl before it ever hits $50, and you can take that to the bank

Agreed.

Other than making for cheap gas, $50 oil is a terrible thing. I'd rather pay too much, than have to wait in mile-long lineups due to shortages. No way does OPEC not dramatically drop production if oil goes that low.

 

[Cracker]

Looks like mostly the Cullen area.


<table class="PriceTable" style="border-bottom: 0px none;" width="98%" cellspacing="0"><tbody><tr><td class="selected">Regular Gas</td><td class="menu">Midgrade</td><td class="menu">Premium</td><td class="menu">Diesel Fuel</td></tr><tr class="Sidebarheader"><th colspan="4">Lowest Regular Gas Prices in the Last 48 Hours</th></tr></tbody></table><table class="PriceTable" width="98%" cellspacing="0"><tbody><tr class="DetailTableHeader"><th width="35">Price</th><th colspan="2" width="150">Station</th><th width="75">Area</th><th width="75">Time</th><th width="75">Thanks</th></tr><tr class="PTableRow"><td class="PColLow" rowspan="2"> </td><td class="PStation" align="left">Food Mart </td><td class="PFind" rowspan="2" valign="top">
</td><td class="PList" rowspan="2" width="75">Houston - South</td><td class="PList" rowspan="2">Tue
6:00 PM</td><td class="PList" rowspan="2">armstrmb
</td></tr><tr class="PTableRow"><td class="PAddress">Cullen & E Orem </td></tr><tr class="PTableRow"><td class="PColLow" rowspan="2"> </td><td class="PStation" align="left">Texaco </td><td class="PFind" rowspan="2" valign="top">
</td><td class="PList" rowspan="2" width="75">Houston - South</td><td class="PList" rowspan="2">Tue
7:45 PM</td><td class="PList" rowspan="2">armstrmb
</td></tr><tr class="PTableRow"><td class="PAddress">Cullen & Kilkenny </td></tr><tr class="PTableRow"><td class="PColLow" rowspan="2"> </td><td class="PStation" align="left">Phillips 66 </td><td class="PFind" rowspan="2" valign="top">
</td><td class="PList" rowspan="2" width="75">Houston - South</td><td class="PList" rowspan="2">Tue
6:00 PM</td><td class="PList" rowspan="2">armstrmb
</td></tr><tr class="PTableRow"><td class="PAddress">Cullen & Holloway </td></tr><tr class="PTableRow"><td class="PColLow" rowspan="2"> </td><td class="PStation" align="left">Mobil </td><td class="PFind" rowspan="2" valign="top">
</td><td class="PList" rowspan="2" width="75">Houston - South</td><td class="PList" rowspan="2">Tue
6:00 PM</td><td class="PList" rowspan="2">armstrmb
</td></tr><tr class="PTableRow"><td class="PAddress">9421 Cullen Blvd & Wilmington St </td></tr><tr class="PTableRow"><td class="PColLow" rowspan="2"> </td><td class="PStation" align="left">Costco </td><td class="PFind" rowspan="2" valign="top">
</td><td class="PList" rowspan="2" width="75">Houston - West</td><td class="PList" rowspan="2">Tue
10:11 PM</td><td class="PList" rowspan="2">Corliss
</td></tr><tr class="PTableRow"><td class="PAddress">1150 Bunker Hill Rd & I-10 (Save 3% w/Costco Amer Express True Earnings Card)</td></tr><tr class="PTableRow"><td class="PColLow" rowspan="2"> </td><td class="PStation" align="left">Costco </td><td class="PFind" rowspan="2" valign="top">
</td><td class="PList" rowspan="2" width="75">Houston - NW</td><td class="PList" rowspan="2">Tue
10:11 PM</td><td class="PList" rowspan="2">Corliss
</td></tr><tr class="PTableRow"><td class="PAddress">12405 Gessner & Mills Rd (Save 3% w/Costco Amer Express True Earnings Card)</td></tr><tr class="PTableRow"><td class="PColLow" rowspan="2"> </td><td class="PStation" align="left">Citgo </td><td class="PFind" rowspan="2" valign="top">
</td><td class="PList" rowspan="2" width="75">Houston - South</td><td class="PList" rowspan="2">Tue
6:00 PM</td><td class="PList" rowspan="2">armstrmb</td></tr></tbody></table>

Which website is that from TF?

 

[Brooklynbomber]

<table bgcolor="#d2e1e8" border="0" cellpadding="4" cellspacing="1"><tbody><tr><td align="left">PETROLEUM ($/bbl)

</td></tr><tr><td align="center"><table border="0" cellpadding="2" cellspacing="2" width="100%"><tbody><tr align="right"><td>
</td><td>PRICE*</td><td>CHANGE</td><td>% CHANGE</td><td>TIME</td></tr><tr align="left" bgcolor="#ffffff"><td>Nymex Crude Future</td><td align="right">73.52</td><td align="right">-1.02</td><td align="right">-1.37</td><td align="right">18:52</td></tr><tr><td align="left">Dated Brent Spot</td><td align="right">69.58</td><td align="right">-5.22</td><td align="right">-6.98</td><td align="right">10/15</td></tr><tr bgcolor="#ffffff"><td align="left">WTI Cushing Spot</td><td align="right">74.54</td><td align="right">-4.09</td><td align="right">-5.20</td><td align="right">10/15</td></tr></tbody></table></td></tr></tbody></table>

we need to clarify things....that NYMEX crude future on your chart is West Texas Intermediate.......while I don't mind using that because it is usually higher than Brent, for the purpose of these bets we should used the standardized Brent Crude Future as quoted on Bloomberg

http://www.bloomberg.com/markets/commodities/cfutures.html

Energy

<table border="0" cellpadding="2" cellspacing="2" width="100%"><tbody><tr> <td>
</td><td align="right">PRICE</td><td align="right">CHANGE</td><td align="right">%CHANGE</td><td align="right">TIME</td> </tr> <tr> <td align="left" bgcolor="#ffffff" valign="center">

BRENT CRUDE FUTR (USD/bbl.)</td><td align="right" bgcolor="#ffffff">70.800</td><td align="right" bgcolor="#ffffff">-3.730</td><td align="right" bgcolor="#ffffff">-5.00</td><td align="right" bgcolor="#ffffff">10/15</td> </tr> <tr> <td align="left" bgcolor="" valign="center">

GAS OIL FUT (ICE) (USD/MT)</td><td align="right" bgcolor="">704.750</td><td align="right" bgcolor="">-39.500</td><td align="right" bgcolor="">-5.31</td><td align="right" bgcolor="">10/15</td> </tr> <tr> <td align="left" bgcolor="#ffffff" valign="center">

GASOLINE RBOB FUT (USd/gal.)</td><td align="right" bgcolor="#ffffff">174.950</td><td align="right" bgcolor="#ffffff">-3.270</td><td align="right" bgcolor="#ffffff">-1.83</td><td align="right" bgcolor="#ffffff">19:29</td> </tr> <tr> <td align="left" bgcolor="" valign="center">

HEATING OIL FUTR (USd/gal.)</td><td align="right" bgcolor="">216.970</td><td align="right" bgcolor="">-2.080</td><td align="right" bgcolor="">-0.95</td><td align="right" bgcolor="">19:31</td> </tr> <tr> <td align="left" bgcolor="#ffffff" valign="center">

NATURAL GAS FUTR (USD/MMBtu)</td><td align="right" bgcolor="#ffffff">6.507</td><td align="right" bgcolor="#ffffff">-0.085</td><td align="right" bgcolor="#ffffff">-1.29</td><td align="right" bgcolor="#ffffff">19:37</td> </tr> <tr> <td align="left" bgcolor="" valign="center">

WTI CRUDE FUTURE (USD/bbl.)</td><td align="right" bgcolor="">73.320</td><td align="right" bgcolor="">-1.220</td><td align="right" bgcolor="">-1.64</td><td align="right" bgcolor="">19:37</td></tr></tbody></table>