OIL

[fishbones]

Originally Posted by #^&#^&#^&#^&#^&#^&#^&#^&#^&#^&#^&

not me but my dad said alot of his friends in Maine did. They're going to get murdered this year. He's paying $2.29 yesterday for heating oil.

MASS ENERGY here..

I thought most of those "lock in" deals only lock in on the maximum price. When I locked in the first year I had oil, I only paid the max price if oil was at that price or higher. When it went lower, I paid the lower price.


Side note, there's 2 million barrells of oil on a tanker being held by pirates right now in Somalia. They're negotiating to release it when the Saudi government meets their asking price. I wonder if that amount of oil affects the pricing?

[PaulS]

Originally Posted by fishbones

I thought most of those "lock in" deals only lock in on the maximum price. When I locked in the first year I had oil, I only paid the max price if oil was at that price or higher. When it went lower, I paid the lower price.


Side note, there's 2 million barrells of oil on a tanker being held by pirates right now in Somalia. They're negotiating to release it when the Saudi government meets their asking price. I wonder if that amount of oil affects the pricing?

I think that type of contract is normally only offered first year - after that you may what you locked in at. I locked into a deal where I pay $.50/gallon over what the wholesale price.

2m barrels isn't a whole lot.

[fishbones]

Originally Posted by PaulS

I think that type of contract is normally only offered first year - after that you may what you locked in at. I locked into a deal where I pay $.50/gallon over what the wholesale price.

2m barrels isn't a whole lot.

I didn't realize that it was for the first year only. After my first year, I shopped around and went with whoever had the best price. I may try to lock in now with a new company if I can get a plan like the original one I had.

[Flaptail]

I can see it now, "U.S. Oil producers go to Capitol Hill to ask for 300 billion dollar bail out to get through to 2012"

"Oil company execs forecast use of all available cash reserves by January 2010"

"No gas supply will lead to mass failure of national economy and threaten national security"

We are on the highway to hell.