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I predict that the sun will come up tomorrow. I will come back here and post what happens. I bet I'm right!
MoneyOne hundred percent of oil production in the region, or 1.5 million barrels a day, remained off line, the MMS said. Suspended natural gas volumes actually worsened, with 8.02 billion cubic feet a day of natural gas shut in, or 80% of total gas production, up from 78.56% on Tuesday. Delays in restoring production are having a sharp impact on the natural gas market, where traders are concerned persistent outages will eat into inventories needed for the winter, when demand significantly exceeds supply.
The supply gap yawns so widely that some traders are saying prices will have to rise much higher to destroy enough demand to balance the market. "You're just not building storage," says George Speicher, a gas futures trader at Dow Inc. "I don't care how much demand destruction there is if 75% of the gas is down in the Gulf."
Here is what I predicted in January would happen this winter...
Spurstalk ArchiveGas prices will continue to fluctuate between 1.50 and 2.00 per gallon, but a short-term crisis could raise the price of oil to close to 3.00-4.00 per gallon in some parts of the country. It will be a harsh winter in the East with home heating costs eating up much of people's expendable income. Some will perish from trying to save money on heating costs in freezing temperatures. Some businesses and government buildings will be forced to close to conserve electricity and heating oil. Old man winter will bring the NE to a virtual standstill for days and it will be difficult to meet the demand of heating costs. For some reason, I'm seeing the Ohio region to be especially susceptible for a catastrophe.
But all that pails in comparison to Marcus Bryant's prediction of $5 bread in our life-times.
I predict that the sun will come up tomorrow. I will come back here and post what happens. I bet I'm right!
It's all rainbows and lollipops for you isn't it sleepy? Here take another red pill, go back to sleep and dream that all this nasty stuff just magically goes away.
NY TimesNYT: Natural Gas Prices Set Record, Pointing to Costly Winter
By JAD MOUAWAD
Published: September 29, 2005
Natural gas prices set a new record today, presaging higher heating bills for a majority of Americans this winter as well as soaring costs for industrial manufacturers of such products as plastics and chemicals.
Since the beginning of the summer, the price of natural gas has doubled. But unlike crude oil or gasoline, whose recent gains have been widely felt by most Americans, the surge in natural gas prices, the most popular form of energy for home heating, has so far gone largely unnoticed.
That is about to change as colder weather sets in. A hot summer, which pushed up natural gas consumption by electricity companies and depleted winter stocks, is expected to give way to a cold winter, which will push up residential consumption. Meanwhile, the Gulf Coast, the nation's largest energy hub, has suffered devastating punches from two severe hurricanes.
All these factor have now come together to create a natural gas crisis.
"It's still under most people's radar screen right now," said Carl Neill, an analyst at Risk Management Inc., a natural gas consultant and brokerage firm Chicago. "The public has absolutely no idea how high prices are going to be this year. It's going to be mind-boggling. Price are going to be 50 to 100 percent higher for residential consumers than in previous year."...
If your on a fixed income, remember those dog food stories Republicans tried to tell you were going to happen unless you let them covertly reduce your Social Security? Will that be Alpo or Generic?
Dan, what does that have to with the fact that you can predict only the blantly obvious of events happening. Oh wait, I mean post quotes from other people's predictions. Even then your only right about 1/10 times. Heres some easy predictions.
Gas prices increase.....
Airfares increase.
Shipping costs more.
Smaller more fuel efficient vehicles are purchased.
You're re ed. Ramen noodles and canned vegetables are cheaper than dog food.
Do you have any stock tips for us, Miss Cleo?
o, 20% of your porfolio should already be in natural gas suppliers. duh!
Yeah, yeah, try and stay away from specifics because I've noticed, it's not your specialty. SW must like them young, dumb and full of...well, you know the rest.
ROFLROFLROFLROFL
you got owned Marcus
Yeah, typical Dan. Can't keep up with the argument so he turns to petty insults.
Your one to talk. Your a walking, talking, posting, insult.
I think your confusing my clinical observations of you being crazy with insults. Sorry for the confusion.
Your one to talk. Your a walking, talking, posting, insult.
No problem. You know, people once thought Galileo and Einstein crazy.
Crazy people often think everyone else is insane.
As they did Charles Manson.
Did you just compare yourself to Galileo and Einstein?!!!!
Lets disect your prediction, shall we?
No , Sherlock. This was about as far on a limb as saying the Spurs are the favorite to win the next NBA le. Who was predicting a fall in gas prices? With the supply situation being what it was, any short term disruption was going to have big time price effects. We saw it last year with the hurricanes that went through the Gulf.Gas prices will continue to fluctuate between 1.50 and 2.00 per gallon, but a short-term crisis could raise the price of oil to close to 3.00-4.00 per gallon in some parts of the country
This prediction wasn't a prediction at all put a pointing out of the obvious. You don't seem to understand that most people thought this was a given. It isn't as though you predicted the Sun was going to turn purple and then it did! You predicted that if it rained the ground would get wet.
Well congrats!
People perish in the winter every year. People perish in heat waves every year. But way to go on another huge rain/ground wet prediction.It will be a harsh winter in the East with home heating costs eating up much of people's expendable income. Some will perish from trying to save money on heating costs in freezing temperatures.
Old man winter brings the NE to a standstill every year in the form of a big blizzard or ice storm. But yeah, you're going WAY out there on those. Regular ing Nostradamas!Some businesses and government buildings will be forced to close to conserve electricity and heating oil. Old man winter will bring the NE to a virtual standstill for days and it will be difficult to meet the demand of heating costs. For some reason, I'm seeing the Ohio region to be especially susceptible for a catastrophe.
I'd give you a pat on the back but I can't seem to get your hand out of the way.
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