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1 comment Tuesday 22 Jul 2008 | Posted By Patrick | Predictions

With news from major forecasting firms that project Dolly to miss major Gulf rigs and refineries, traders are busy selling off their contracts for gasoline and oil. As you can see on the ticker on the left, gasoline is down nearly 10-cents/gal and oil is down over $4/bbl. Hopefully this continues, and MAYBE we can [...]

2 comments Friday 11 Jul 2008 | Posted By Patrick | Commentary

Oil is $146 a barrel today. Want to know why U.S. supplies are OVER 50 million barrels below where they were last year? Want to know why oil prices keep rising? The two are directly connected, and its going to keep getting worse unless the dollar strengthens. As I said, today oil hit $146- a [...]

0 comments Wednesday 04 Jun 2008 | Posted By Patrick | Predictions

It’s been a while since I wrote here folks, but it seems prices have been “somewhat” steady around our region, and quite steady (what a surprise!!) in Grand Rapids. If you read my previous post about the Summer Forecast, you’ll have a better idea where this post fits in the big picture. Of course my [...]

3 comments Tuesday 27 May 2008 | Posted By Patrick | Predictions

The long awaited 2008 Summer Driving season is now upon us, after a mostly gloomy and cool Memorial Day weekend here in Mid-Michigan. With gasoline prices approaching and surpassing $4, many are asking what’s in store for this Summer… what can I expect, when should I vacation? This post may be one of my longer [...]

0 comments Wednesday 21 May 2008 | Posted By Patrick | Predictions

Today’s DOE report was just about as bad as they get. The government’s report showed oil inventories posting a surprising loss of well over 5 million barrels, while gasoline stockpiles fell as well even though refineries operated at slightly higher utilization than the previous week. Despite high prices, gasoline demand was report to only be [...]

0 comments Wednesday 27 Feb 2008 | Posted By Patrick | Predictions

Its very good news this time of year when the DOE releases a “favorable” report like they did moments ago at the normal 10:30am time. Highlights: Cons: Refineries operated at a low (albeit slightly higher than last week) 84.7% of capacity last week Pros: Crude oil inventories rose by 3.2 million barrels last week. At [...]