Crude is still cheap here

Discussion in 'Trading' started by detective, Oct 18, 2007.

  1. 1 barrel produces the following:

    19.5 gallons of gasoline
    9.2 gallons of distillate fuel oil (diesel fuel and home-heating oil)
    4.1 gallons of kerosene-type jet fuel
    2.3 gallons of residual fuel oil (used in industry and marine transportation and for election power generation)
    1.9 gallons liquefied refinery gases
    1.9 gallons still gas
    1.8 gallons coke
    1.3 gallons asphalt and road oil
    1.2 gallons petrochemical feedstock
    0.5 gallons lubricants
    0.2 gallons kerosene

    All that for $88. 19.5 gallons of gasoline alone gives you about 500 miles of travel in an average sized car. Is that not cheap? You guys are too used to super cheap oil that you don't realize how underpriced it is to the energy it produces.
  2. on the money

    on the money Guest

    Now aren't you a bargain shopper.
  3. Agree. Oil could go to 150 and it still woudn't be a problem.
  4. Have you noticed all the bearish articles on crude, Opec may pump more,crude near a top,oil bubbling over.

    You never here bearish talk about the stock market, it's always cheer leading squads.
  5. You know, when stocks go up, that's supposedly a "good" thing, and when oil goes up, that's supposedly a "bad" thing.

    The media likes to root for the good thing and roots against the bad thing.
  6. plugger


    I doubly agree. Oil could go to $500 a barrel and still not be a problem.