By: Bob van der Valk
With all the talk about curbing oil demand oil producers should be thinking twice about investing in new capacity. Consumers should rejoice and environmentalists will lament because the immediate alternative will still be some product made from fossil fuel. (more…)
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Aaron Flint and Bob van der Valk in front of the Badlands Cafe and Scoop Shoppe in Terry, Montana before doing the Voices of Montana broadcast
Terry, Montana
November 29, 2009
By: Bob van der Valk
The Badlands Cafe and Scoop Shoppe in Terry, Montana was visited by host Aaron Flint and his Voices of Montana radio show on Friday, November 27, 2009. His broadcast was beamed live from the cafe across the State of Montana on the Northern Broadcasting Network. (more…)
Tithing
Dateline: Terry, Montana
By: Bob van der Valk
November 18, 2009
Headline on page A1 in this morning’s New York Times reads “$500 Million and Apology From Goldman”. In the article, by Graham Bowley, he outlines the response to criticism over their planned year-end bonuses. Goldman Sachs said it was working with the billionaire investor Warren E. Buffett in a $500 million project to help 10,000 small businesses.
This charitable move by Goldman Sachs came a little more than a week after Lloyd Blankfein, Goldman’s chairman and chief executive, was quoted as saying that they were “doing God’s work”. The $500 million represents only 3 percent of the $16.7 billion in bonuses set aside to pay its employees this year. (more…)
Dateline: Terry, Montana
October 26, 2009 10:30 AM MDT
By: Bob van der Valk
The two teams for the upcoming World Series of crude oil have been decided. The first team is made up of speculators and hedge fund advisors with the other team made up of the major and independent oil companies. The final outcome of this game between the Wall Street Titans and the Texas Oil Barons will decide the winner or loser, in this case the gasoline customer. Please read the remainder of this article on the player statistics after some local news about Montana fuel prices. (more…)
Goldman Sachs is lining its pockets buying political power
Dateline: Terry, Montana
October 22, 2009 4:00 AM MDT
By: Bob van der Valk
On October 21, 2009, in his remarks at the OTC Derivatives Regulation, Futures Industry Association Expo in Chicago, the Commodity Futures Trading Commission (CFTC) Chairman Gary Gensler proposed that hedge funds, financial firms or other investment funds not be exempted from clearing requirements and all standardized OTC products should be moved onto regulated exchanges or trade execution facilities.
The CFTC also recommended changes to its oversight authority, including implementation of the “Eddie Murphy” rule, taken from the 1983 comedy movie “Trading Places”. The CFTC will extend insider trader prohibitions to include parties who receive misappropriated information from any government agency. This will be known and is referred to as the “Eddie Murphy” rule. (more…)
The Gas Guy dressed up for Halloween 2009
Dateline: Terry, Montana
October 19, 2009 2:00 PM MDT
By: Bob van der Valk
Don’t be scared when you look at the prices you are paying at the pump right now for gasoline and diesel. This winter fuel prices both gasoline and diesel will reach the same low price levels as last year.
In Montana and in the rest of the U.S., we are now already paying about 45 cents per gallon less for fuel than we did last year. Gasoline in Montana is currently averaging $2.59 with the price last year at $3.04 per gallon. (more…)
Paul and Linda Nygard from Billings, Montana enjoying breakfast at the Badlands Cafe and Scoop Shoppe in Terry, Montana before hunting antelope in Prairie County
The van der Valk Eastern Montana Gas Price Advisory for 10-12-09
Dateline: Terry, Montana
By: Bob van der Valk
October 12, 2009 9:30 AM MDT
Hunters have been arriving in Terry by the droves since last week Friday in time for the start of the annual hunting season. They will be after herds of antelopes, which have propagated thanks to the great summer weather greening up the prairies.
They have also enjoyed seeing lower gas prices to fill up their trucks, vans and SUVs while driving to Terry from as far away as Minnesota and Idaho. The Four-Corner gas station in Terry is selling regular unleaded gasoline for only $2.479 per gallon this morning. (more…)
The van der Valk Gas Price Advisory for September 7, 2009
Dateline: Terry, Montana
We have had some dog days here in Terry, Montana this summer and the price of gasoline has been scorching upward right along with the heat. The spot market for gasoline and diesel prices dropped like a rock Monday, but Tuesday morning brought new hope and both of them are both back up. Gasoline is heading the pack but the price of crude oil is back down some more to $68.86 up 89 cents a barrel on this holiday. (more…)
The lull before the storm for gasoline prices
Dateline: Issaquah, Washington
By: Bob van der Valk
August 28, 2009 9:00 AM PDT
Right now there is a tropical depression named Terry (after my hometown in Montana) but it is slowly becoming a storm and will then turn into a full fledged hurricane. Of course, I am referring to what is happening with gasoline pump prices. The average price of gasoline over the last seven days has not changed precipitously but that is quickly changing on the oil market weather map. The AAA Fuel Gauge report shows the national average price of self-serve regular gas is $2.613 per gallon on Friday, down just over a penny from a week ago. The national average price of diesel fuel is $2.697 a gallon, up just over a penny. (more…)
Dateline: Terry, Montana
August 24, 2009
By: Bob van der Valk
The October West Texas Intermediate crude oil price went up to $74.37 a barrel at the settlement today. We have not seen the price of crude oil hit that mark since last October. This current up tick is the result of the bearish Energy Information Administration – Department of Energy (DOE) and American Petroleum Institute (API) inventory reports published earlier in the week. Both reports reflected huge unanticipated draws for all products including crude oil for the week ending August 14, 2009. (more…)
9th Annual Ranch Rodeo held by the Terry Roping Club at the Prairie County Fairgrounds on August 9, 2009
Dateline: Terry, Montana
We moved to Terry, Montana in May of 2009 to be close to family and since then tried to learn more about the beautiful area we now call home. Meanwhile, we are enjoying life in our new town and its quiet country style atmosphere. (more…)
The price of crude oil has been hovering around $70 a barrel for the last week meanwhile gasoline pump prices in the U.S. and Canada are down by about a nickel a gallon or 1 cent per litre during that same time. The average price for a gallon of gasoline is $2.63 today per the AAA fuelguage report. Montana’s gasoline prices are averaging $2.71 barely nudging down from a week ago price. (more…)
Nationally the average price for regular unleaded gasoline is $2.658 down about 3 cents per gallon from a week ago. Montana’s gasoline prices have leveled off at $2.72 with California staying high at $3.01 per gallon. Hawaii gets the prize for the highest cost for gasoline at $3.09 per gallon in the AAA fuelgauge.report. The gasoline spot market price meanwhile has dropped by 20 cents per gallon in the last two weeks but retail pump prices have not reacted in kind and are not expected to drop much more before the end of next week. (more…)
April showers may bring May flowers but this year it also brought forth a spring time renewal for oil refiner’s profits. This was in the form of increased demand for gasoline after dismal first quarter results in 2009. But now the June swoon has come too soon and the oil companies are looking forward to those summer breezes peeking just around the corner. (more…)
While the market sorted itself out yesterday, I was busy trying to keep from running out of water at the Bob’s Big Boy Ranch in Terry, Montana. At one point we not only had our artesian well down but our hard water well had shut down as well. Unexpectedly, we had to make a quick trip and run out to the Terry Super Valu grocery store to stock up on bottled water. We may well be having a similar problem happening right now in the refining and petroleum business. (more…)
This week’s DOE inventory statistics came in way over expectations for crude oil stocks rising almost 4 million barrels, twice the number predicted by industry analysts. For the time being, we’ve got plenty of crude oil on hand but will it continue to be enough for the future? (more…)
The May WTI crude oil price is up 35 cents to $50.33 a barrel at the close today. On the US West Coast the wholesale spot market price for gasoline and diesel went up 2 cents per gallon in concert with crude oil.
It’s another day – same old story in the petroleum markets. (more…)
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