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PRESS ADVISORY: Big Oil Hog to Appear in El Cajon
Step aside Punxatawney Phil, in San Diego it isn't about Groundhog Day, it's Oil Hog Day. At 11:07 AM today, the Big Oil Hog will appear at On the Go Gas in El cajon. If the Oil hog sees his shadow, watch out! It could mean six more months of higher gas prices! Since 2005, the Big Oil Hog has had a 100% record of accuracy in predicting major movements in oil and gas prices, including the skyrocketing prices of $4.60 a gallon in 2008, and the complete collapse of gasoline prices before the 2006 mid-term elections. More.
Is $3 a gallon the lowest price we'll see for the first half of 2009?
This morning the San Diego Union-Tribune quoted UCAN in a lead story in its business section as saying “It’s very unlikely we’ll see gasoline below $3 for the next nine months." The reason is that the market is not being driven by supply and demand, rather inventories are being controlled and manipulated by oil companies that are using at least five different methods to manipulate the market price of gasoline. Full Story.
Gougeonomics: How the oil industry plans to control your gas prices in 2010
In "Economics" prices for goods and services, such as oil and gasoline, are set by the immutable laws of Supply and Demand, where the competitor who brings the most to the market for the least amount of money is the winner (think Walmart). Unfortunately, the "economics" theory does not predict price movements accurately for commodities that are being manipulated. For this, we need to understand the relatively new discipline known as "gougeonomics." In a gougeonomy, the player who brings the least amount of power to the market at the highest price wins. Learn more about gougeonomics.
San Diego gas and diesel prices bounce back above the $3 mark over the weekend
San Diego gas prices flirted briefly with sub $3 a gallon prices last week, but have crept back up above $2.99 for diesel and regular unleaded on average. Yet demand is down and there are an estimated 125 million barrels of oil stored offshore in supertankers with holds that are bursting with surplus crude. This is oil pumped last year that still can't be sold because of low demand. Blame the speculators. Full Story
San Diego gas prices slide below $3 mark
Gas prices finally slipped below the $3 mark even though oil prices are climbing. Be suspicious: California's refineries are producing at only 75% capacity in order to restrict supply and protect the industry from a massive price avalanche. MORE.
Gas prices set to nosedive
Despite a rash of refinery closures, fires, and other potential supply disasters, gas prices should collapse below the $3 mark, on average soon. "They're going to drop faster than a thick brick," says Charles Langley, Manager of UCAN's Gas Project. Get the Full Story.
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