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20 comments Saturday 13 Sep 2008 | Posted By Patrick | Commentary

Last time I called the Michigan AG on gas price gouging, I was given sympathy “Oh, I know its terrible, isn’t it?”, I had accurate information, the station address, and NOTHING WAS DONE. No questions asked, no investigation, no taking of my name and information, no taking of the other information I had as well.
Will [...]

4 comments Friday 12 Sep 2008 | Posted By Patrick | Commentary

First off, any rumor of $4.50+ gas in the Midwest is FALSE.
Just home from work and posting here to help aid in killing false rumors.
First of all, don’t expect shortages of gas. There is no need to panic buy, prices will come down over time, but the worse thing folks can do is think there [...]

10 comments Wednesday 10 Sep 2008 | Posted By Patrick | Commentary

First off: Read this post thoroughly if you want to find out WHY prices are justified.
A brief thank you to Tom Kloza for taking the time out of his day (Publisher @ OPIS) to respond to a few questions I had.
I now understand and can say that I know why Grand Rapids (and all of [...]

4 comments Tuesday 09 Sep 2008 | Posted By Patrick | Commentary

OPEC dismissed from their meeting late Tuesday night Eastern time and promptly said they had decided to cut production by over 500,000bpd.
I’m not sure how to react- first and foremost I feel that OPEC is unaware of global economic worries based on the high cost of oil. Secondly, I think they fail to realize that [...]

3 comments Tuesday 09 Sep 2008 | Posted By Ed Aboufadel | Commentary

Comment on the August 25 prediction:  Prices did drop into the $3.70’s from $3.89, but not significantly due to the hurricanes.  To be fair, I’ll label that prediction WRONG.
September 9, 2008, 7:15 AM:  With the fall semester up-and-running at GVSU, I am planning on posting each Tuesday morning this semester.  Using NYMEX alone, the 0-cent [...]

2 comments Thursday 04 Sep 2008 | Posted By Patrick | Commentary

News this noon from WSJ that oil companies may have reported false oil inventory levels to benefit their positions:
The U.S. futures market regulator is investigating whether companies are reporting false oil inventory levels to benefit their trading positions, The Wall Street Journal reported on Thursday.
The paper, quoting people familiar with the probe, said the Commodity [...]