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Posted

The free market works. Look at what is happening in the oil market now that the US and Russia as well as Canada and others started to tap their own reserves and brought new oil to the market. Oil stocks are getting hammered and the price of oil is headed down fast due to the big increase in production across the globe that has broken the control in production that the middle east has enjoyed for decades. Imagine how much we could drive down prices if we had brought ANWAR online 8 years ago.

Posted

Nice to see gas at about $2.50 per gallon up here.

Posted

Nice to see gas at about $2.50 per gallon up here.

I thought RRR said it was because of the election?

Posted

I'm as happy as anyone about cheaper gas, but I don't believe for a minute that simple supply and demand are what drives fuel prices.

Posted

Not only a plus for the consumers. I paid 2.69/gal today and

the owner of the station, a friend, told me he's making three times as much per gallon.

Normally makes about .10/gal, now .30. He sets his price based on the SA across the street.

"For some reason, and I don't know why, the big retailers have stayed united this time."

Time to look into those stocks ??

Posted

We have been paying so much for so long gas at around 2.60 a gallon seems cheap. I would have no problem if it stayed around this rate for a while. I remember when it first hit 3.00 people were livid.

  • 'we have more fun' FishingMN Builders
Posted

I think I heard something about Britain and BP being a big player in this trying to put some hurt on the Russian market by lowering their prices.

Posted

I think I heard something about Britain and BP being a big player in this trying to put some hurt on the Russian market by lowering their prices.

The permafrost is melting in the russian arctic ( Thanks Obama) and it is opening up new areas to oil extraction that have never been accessible before. They are looking at building at least 3 new arctic ports and China wants into the action as well. The ability to mine areas in the north that have been inaccessible till now is creating opportunities all over that can bring oil to the market and change the dynamic of the market.

It's time to put ANWAR back on the table.

  • 'we have more fun' FishingMN Builders
Posted

The permafrost is melting in the russian arctic ( Thanks Obama) and it is opening up new areas to oil extraction that have never been accessible before. They are looking at building at least 3 new arctic ports and China wants into the action as well. The ability to mine areas in the north that have been inaccessible till now is creating opportunities all over that can bring oil to the market and change the dynamic of the market.

It's time to put ANWAR back on the table.

Well we may have a two year wait until our buddy is gone!

full-27051-51665-10687110_36913925987802

Posted

full-40170-51666-corn.jpg

This will not be good for the ethanol industry. wink
Posted

One of the reasons for blending was due to the cost of oil and E being a lower cost alternative. With oil prices down there will be less incentive to use e15 or even e10 in many areas and the Libs lost their majority so the mandates can be rolled back.

Lower oil prices kill the margins in the ethanol industry and we will soon see the cries for adding E subsidies again as farming land and rent prices have eaten up all the potential for operating at a profit as the market prices are driven down.

Posted

The Saudis literally just continued to dump on the Opec's weaker producers attempt to try to limit production. Could be a play to appease the Iraq/Syria/ISIS thingy, a favor f u at the Russians, or an attempt to stem the tide of Canadian and US production. Maybe all the above. Regardless, we should be looking at lower prices for a little while. Competition is good. Drill baby drill......

Posted

The Saudis literally just continued to dump on the Opec's weaker producers attempt to try to limit production. Could be a play to appease the Iraq/Syria/ISIS thingy, a favor f u at the Russians, or an attempt to stem the tide of Canadian and US production. Maybe all the above. Regardless, we should be looking at lower prices for a little while. Competition is good. Drill baby drill......

Saudi Arabia is trying to price out Russia in the region. Given Russia's current world standing, and the US having generally a favorable relationship with Saudi Arabia, there may be more to this than meets the eye.

Posted

Another bubble bursting?

Energy companies go bankrupt and banks with a bunch of bad debt?

http://www.cnbc.com/id/102223823?trknav=homestack:topnews:5

Posted

One of the reasons for blending was due to the cost of oil and E being a lower cost alternative. With oil prices down there will be less incentive to use e15 or even e10 in many areas and the Libs lost their majority so the mandates can be rolled back.

Lower oil prices kill the margins in the ethanol industry and we will soon see the cries for adding E subsidies again as farming land and rent prices have eaten up all the potential for operating at a profit as the market prices are driven down.

The production cost of corn is not directly proportional to the commodity value of ethanol.

Proof that the market is being manipulated can be measured by the #2 diesel/gasoline price spread. If you can measure it, you can manage it. I think now would be a good time to contract one years expected gas usage at a fuel bank.

No RFS ruling will be announced this year, could be a while; meanwhile demand for ethanol will increase as retail gas prices fall. 15% ethanol will become the new mandate.

Posted

The mainstay of Russia and Iran's economy is the price of crude oil. The OPEC nations and the Western world are trying to bankrupt these 2 nations. It's part of the coalition where they put some financial hurt on them, much like the gas wars in towns years ago here in the US.

Posted

I have read that Russia needs oil to be at $90/barrel to break even. Considering Russia's economy is heavily based on selling energy, the end goal in the falling prices to to make Russia weaker. Payback for its thuggishness.

Posted

The production cost of corn is not directly proportional to the commodity value of ethanol.

Posted

This giant corn crop is crippling the Saudis and its wonderful to see.

ROFL!

Preposterous statement of the year.

Good grief.

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  • Your Responses - Share & Have Fun :)

    • monstermoose78
      Ok the ice was 15-16 inches and less than 2 inches of snow. It’s was -15 this morning and the weekend looks to be cold again. The fish were there but not biting with change in weather. 
    • Dash 1
      I guess the vikings are a lot like fishing.  Very entertaining but frustrating at times. I've probably been cheering the vikings for 50 plus years  that i can remember and once again it's all about (there's always next year).  
    • Dash 1
      I remember Jeno's boxed pizza years ago.  Mom made it every Saturday night while dad and I watched All Star Wrestling.  
    • smurfy
      Chef boyardee box pizza. Good stuff 
    • smurfy
    • leech~~
      Smurf, still trying to get his lure jigging down when using the camera!  🤭   https://www.facebook.com/reel/517510734635573
    • LakeofthewoodsMN
      On the South Shore... Ice fishing is going great on the south shore of Lake of the Woods, with resorts and outfitters reporting thickening ice conditions with two feet of ice in some areas.  Many ice roads are now open to 1 ton vehicles pulling a wheelhouse.  Every road has different weight limits, check with each resort for details before traveling up and out on the ice.      Some good fishing this past week.  As a rule, fishing activity is happening in 28 - 32 feet of water.  Resorts do just about everything they can to get customers on fish and this past week, some resorts made some long runs, resetting fish houses in new areas miles off shore.  Most are reporting good fishing as a rule.     It is common to sort through some small walleyes and saugers to get your keepers on LOW.  Naturally, some big fish are showing up, especially in deeper water.  In addition, this has been a very good year for jumbo perch with good numbers being caught.  Other fish in the mix are eelpout (burbot), pike, tullibees and an occasional sturgeon.      Anglers are using the one-two punch of jigging in one hole and deadsticking the second hole. In the jigging hole, a jigging spoon tipped with a minnow head or tail in gold / pink, gold / glow red, glow white / pink, or Wonder Bread have worked well.     Especially in the deeper water, some anglers are finding success on rippin raps or using jigging spoons with a rattle as well.     On the deadstick, a small jig with a live minnow hooked behind the dorsal fin set 6 inches - a foot off of the bottom is working well.  One day the jigging line catches most of the fish, the other day a deadstick is hot.     Electronics are very helpful to see suspended fish, know when fish are coming through and adjust your presentation to the mood of each fish.  Most resorts, outfitters and bait shops in the area rent electronics by the day.   On the Rainy River... The Rainy River is still producing some nice walleyes and saugers, primarily in the mornings and evenings.  A jig and minnow working well.   Catch-and-release sturgeon fishing continues to be good for those targeting them.  An oversized hole, or three holes drilled together, with nightcrawlers or frozen emerald shiners on a sturgeon rig fished on the bottom are what anglers are using.     Ice conditions on the river can vary significantly due to the current. To stay safe and maximize success, always work with a local resort or outfitter familiar with river conditions.    Up at the NW Angle... Ice fishing continues to be very good up at the Northwest Angle. Resorts have fish houses set up on various pieces of structure as well as adjacent to structure in deep mud.  A consistent mix of walleyes, saugers, jumbo perch, pike and tullibees in the mix.     Shallow structure is best right away in the morning and as the sun starts going down in the late afternoon.  Mud is more of a slower bite but all day.   The ice road from Jerry's on the mainland (Angle Inlet, MN) to island resorts (as of this past week) was open to 1 ton vehicles.  Guests drive right to their island resort after picking up a road pass at Jerry's or Point North Services.  Venmo is also available at all resorts.  Work through your resort for specifics.   Ice fishing is in full swing across Lake of the Woods and there are openings for lodging, fish house rentals, sleeper fish house rentals and meal plans across the area.  Ice fishing is extended on LOW with fish houses allowed on the ice through March 31st, walleye / sauger season open through April 14th and a pike season that never closes.  
    • Brianf.
      From your fingertips to God's ears...  Finally got some snow!   Several inches of new snow fell before and during the weekend.  Sunday eve when we left, the high winds had already begun to create some drifting on the lake.  It was fun riding for sure.  Lots of folks on the lake this past weekend too.  We fueled up the sleds at Shamrock and saw as many people fishing in that area as I've ever seen in the Winter on Lake Vermilion.     Our weekend results were decent.  Jeff and I and a buddy caught probably 50 walleyes between the three of us, mostly fishing a jig/plastics with our three biggest being 24", 25", and 25.5".  We also got one large pike of unknown length.  During the midday on Sunday, we targeted whitefish and Jeff managed one big one.  We released all of our fish, except for three small walleyes that our buddy wanted to bring home for a meal.  Definitely a fun weekend on Lake V!   
    • leech~~
      The Vikings are the Vikings so it's nothing new.  It is kind of sad that Darnold's off season stock is now going to drop like a rock after these last two games. It kind of shows he's not a big game guy.  🤔
    • smurfy
      I'm blaming leech... his food selection has been lacking game days recently  🤣
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