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Oil Prices Skyrocket

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Here’s a snippet from CNBC:

LONDON, Oct. 10 — World oil prices surged Friday, gaining nearly a dollar per barrel and touching nine-week highs amid dealer worries over thin petroleum stockpiles ahead of winter.

Oil futures appear to be a wonderful investment now, as they were a few years ago, before the price of oil began gauging upward.

While stocks are on the rise, people are buying more and more on margin, which I think is pretty frightening. I think oil and other tangible investment will remain strong now and throughout the recovery, but high oil prices will not likely help the recovery to continue. We will see.


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About Mr. Real Estate

  • I notice you have some interest in the oil market and its political ramifications. I wonder if my book would be of interest to you and your followers. Free preview and complete excerpt of Chapter One available at::


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  • Say, is that anything like the book Crude Spam Fellows? If it is, it may not be very popular around here, but boy, the book reviews sure are popular. Offering a free review copy to interested bloggers is often more productive than spamming Blogcritics.

    You’re very welcome for the tip!

  • The supply/demand balances on oil are positive. OPEC output is exceeding the “Call on OPEC”. Big surpluses, with economists now decreasing demand forcasts.

  • I’ve read many articles on the internet and in trade publications indicating the price cycle of crude oil may extend over several years, responding to consumer demand along with OPEC and non OPEC supply issues. This is important information that residential oil consumers must take into account when choosing a fuel oil dealer.

    Omni Marketing Services is a contract telemarketing company that works with residential oil companies on a business to consumer level. We have noticed a trend within the last six months of an increased number of C.O.D. oil consumers migrating to full service, looking for price protection in the form of a capped or fixed price on their oil.

    As we approach mid-winter we can expect oil prices to spike as oil supply falls short. Consumers that have locked into a price protection plan will save a substantial amount of money over the course of the heating season.

    There are many advantages in doing business with a Full Service Oil Dealer :

    (1) With a Full Service Dealer you are guaranteed oil, no matter how bad the winter gets. With a Discount Dealer, if the dealer runs out of oil… you’re out of luck !

    (2) With a Full Service Dealer you receive automatic oil deliveries. With a Discount Dealer you need to be diligent and watch your oil tank gauge, calling when you think you might need oil . Many consumers have run out of oil because of this.

    (3) With a Full Service Dealer you will be on a convenient payment plan that will allow you to pay by check or credit. With a Discount Dealer you either wait for the oil delivery and pay the driver or you tape your cash or check to the fill pipe or front door.

    (4) With a Full Service Dealer you have a team of trained burner technicians that are on call 24 hours per day, 365 days per year. With a Discount Dealer you will have subcontracted technicians that may or may not respond to your call.

    Given the extreme volatility of oil prices, along with the advantages listed, it only makes sense that consumers are choosing Full Service Oil Dealers

  • Mark

    Why do we keep our dependency on oil. GM has created the hydrogen fuel cell chassis, but has basically shelved the entire project.

    What we need is billionaire Bill Gates to develop a car that does not run on a petroleum based fuel, and have it ready in 5 years.

    That way, we could care less what the Middle East does. Think what would happen to the price of oil the day that Bill Gates announced that he was creating this car. Oil would drop to 50 year lows.

    Bill Gates! Where are you?? Use all that money to better the entire world. You already have the President of China meeting with you first, BEFORE meeting with the President of the U.S. You have access to all the right people to make this happen.

  • Perhaps he’s perfecting the car so the windshield doesn’t turn blue and the car crashes immediately afterward, or working on expanding the Windows market in China.

    If it is the 1970s again, and I have said it is before, it is likely that we will see sky-high gas and oil prices before they plummet, and they will, just as they did in the 1980s.

    The problem with oil isn’t supply, it’s that there aren’t enough refineries to get it to the market quickly enough, thus making supply seem scarce, and prices higher.

    Big oil has made plenty of money. It’s time to start reigning them in. Congress, better listen before you lose your seats to new reformers, and you will if you don’t start being pro-consumer again soon.

  • Here’s another Oil company con for you… They’re all for Ethanol based fuels! You can only buy it at their stations, and they actually reap more profit than with oil, because gas mileage is lower with corn based, so you have to fill up more often!

  • Lumpy

    U can buy ethanol at gas stations? Not that i’ve ever seen.

  • You’ve never driven through Ohio, where a blend is offered, and also the pure stuff is coming soon, according to advertising.

    You haven’t seen any GM TV or print commercials lately have you?

  • Todd Hogues

    Don’t mean to be pessimistic but the price of oil will only go higher from here. Also check http://www.oil-price.net for more oil market predictions. According to Oil-price.net , Saudi Arabia stopped investing in any research pertaining to sweet crude oil extraction, and instead are investing in research on extracting oil from tar sands using pressurized water. This is a proof that their reserves of sweet crude oil will become insignificant in the near future, despite their high price. All that’s left is tar sands, of which the low-grade high sulfur content oil is extracted.

  • seli

    i am seriously in need of any company or partners, who are intrested in petroleum deal .
    i am a nigeria, from one of the higest oil producing part of nigeria, and i am a farm,i discover crud oil from the farm land given to me as my share of my late father’s farm, when tilling the soil for planting of yam for the season, but what i found was crud oil surprisly to me, that is why i have been searching for any partner i am not intrested in you money but all i need is a percentage from any product sold, if intrested please mail to reply.so that you can send some body to see the product so that we can start business.