Just bought 3 Call Options, 3,000 gallons of paper Crude Oil at $2.80 Premium. The Options are worth $4.30 today. Google that part of the world and you can see there will be more problems soon. We've already got troops in Afghanistan, Iraq, on ships.
What's the real cost of crude oil?
For your gas needs I think this looks like a great option if you have an E-85 vehicle. It costs only $6,000 and you can make your own Ethanol from your local tavern bar waste and ingredients. They will supply the container for your local pub. "http://www.efuel100.com"
Libya has high quality irreplaceable 'Light Sweet Crude' which is ideal for jet fuel and low viscosity diesel fuel. Libya has shut down all crude oil production. It takes 4 barrels of Saudi Arabia crude to be able to extract 1 barrel of Libya crude. Furthermore Saudia Arabia's drilling companies do not have the expensive equipment needed to separate the Saudi crude and make it 'Light and Sweet'.
I think the media is misleading us when they spin the story quite a bit when the jump in and say Saudi Arabia agreed to fill any Oil disruptions from Libya. They can't do that. Everyone better have their airline tickets booked that they need within the next year!
I am taking the Call Option approach to Brent and WTI contracts. I think there will be more disturbances in Middle East. Hedge your fuel needs cause this could get exciting if crude goes to $200/barrel within 6-12 months as some are suggesting.
I think there is a lot of opportunity in Call Options in Oil, Silver, Gold, Corn, Beans and for that matter all across the "http://www.cmegroup.com" - I like the Options as the Futures are dangerous in my opinion unless you have nerves of steel and a very deep bank account.
Anyone going to take me up on my offer of .43¢ to .60¢ a gallon savings ? You have NOTHING to risk since we area cover the cost to prove out the savings...