Comments on: MyGallons.com – I Smell Something, and it Ain’t Gasoline http://www.zoliblog.com/2008/07/08/mygallonscom-i-smell-something-and-it-aint-gasoline/ Connecting the dots ... Sat, 21 Nov 2009 06:03:39 -0800 http://wordpress.org/?v=2.8.6 hourly 1 By: gasoline http://www.zoliblog.com/2008/07/08/mygallonscom-i-smell-something-and-it-aint-gasoline/#comment-18922 gasoline Wed, 11 Nov 2009 20:57:38 +0000 http://www.zoliblog.com/?p=1345#comment-18922 When we get over the latest panic about gas prices, we will still want to tow boats and take our families to the lake or drive to the amusement park, and it is very likely that we will be burning gasoline to get there <a href="www.naturalgasoline.com " rel="nofollow">gasoline</a> When we get over the latest panic about gas prices, we will still want to tow boats and take our families to the lake or drive to the amusement park,
and it is very likely that we will be burning gasoline to get there
gasoline

]]> By: beer club http://www.zoliblog.com/2008/07/08/mygallonscom-i-smell-something-and-it-aint-gasoline/#comment-16994 beer club Tue, 24 Mar 2009 17:16:54 +0000 http://www.zoliblog.com/?p=1345#comment-16994 A situation like this occurred to me too. It was one year ago when I also smelled something similar to gasoline. And indeed it wasn't, it was something related to some leaks of a certain substance from the water. A situation like this occurred to me too. It was one year ago when I also smelled something similar to gasoline. And indeed it wasn’t, it was something related to some leaks of a certain substance from the water.

]]> By: Peter http://www.zoliblog.com/2008/07/08/mygallonscom-i-smell-something-and-it-aint-gasoline/#comment-16730 Peter Wed, 25 Feb 2009 20:11:16 +0000 http://www.zoliblog.com/?p=1345#comment-16730 After over-hearing about this website and business model at a bar today at lunch, I did some hard thinking as an honest banker and currency trader. After reading the website for mygallons.com it reeks of all of the warning signs bankers at all levels are given in compliance training. Lets see, I pay this chap $40 to get in, deposit money with him that he will later re-pay as prices adjust? Two big red flag events come to mind. Number 1: PYRAMID SCHEME. Number 2: OFFSHORE MONEY LAUNDERING. What a way for a drug dealer to launder money!! wire Colombian Pesos to mygallons,com claiming to buy gas for your boat in Miami, then withdraw the money in USD. There u go, laundered! No wonder US BANK pulled out. After over-hearing about this website and business model at a bar today at lunch, I did some hard thinking as an honest banker and currency trader. After reading the website for mygallons.com it reeks of all of the warning signs bankers at all levels are given in compliance training. Lets see, I pay this chap $40 to get in, deposit money with him that he will later re-pay as prices adjust? Two big red flag events come to mind. Number 1: PYRAMID SCHEME. Number 2: OFFSHORE MONEY LAUNDERING. What a way for a drug dealer to launder money!! wire Colombian Pesos to mygallons,com claiming to buy gas for your boat in Miami, then withdraw the money in USD. There u go, laundered! No wonder US BANK pulled out.

]]> By: MyGallons.com Update - Is it Over?| Zoli’s Blog http://www.zoliblog.com/2008/07/08/mygallonscom-i-smell-something-and-it-aint-gasoline/#comment-12960 MyGallons.com Update - Is it Over?| Zoli’s Blog Sat, 19 Jul 2008 22:11:42 +0000 http://www.zoliblog.com/?p=1345#comment-12960 [...] Just ten days ago I reported on MyGallons.com, a service that would allow consumers to hedge against future gas price increases.  Several things, including the business model and the founder’s background just “didn’t click”, so I was suspicious: I Smell Something, and it Ain’t Gasoline [...] [...] Just ten days ago I reported on MyGallons.com, a service that would allow consumers to hedge against future gas price increases.  Several things, including the business model and the founder’s background just “didn’t click”, so I was suspicious: I Smell Something, and it Ain’t Gasoline [...]

]]> By: Zoli Erdos http://www.zoliblog.com/2008/07/08/mygallonscom-i-smell-something-and-it-aint-gasoline/#comment-12788 Zoli Erdos Fri, 11 Jul 2008 02:35:39 +0000 http://www.zoliblog.com/?p=1345#comment-12788 Well, then give us the reason... Well, then give us the reason…

]]> By: b lev http://www.zoliblog.com/2008/07/08/mygallonscom-i-smell-something-and-it-aint-gasoline/#comment-12787 b lev Fri, 11 Jul 2008 02:06:47 +0000 http://www.zoliblog.com/?p=1345#comment-12787 you are so wrong - us bank is trying to stop this company for launching and being successful for a reason - I think that is the real story you are so wrong – us bank is trying to stop this company for launching and being successful for a reason – I think that is the real story

]]> By: Soap http://www.zoliblog.com/2008/07/08/mygallonscom-i-smell-something-and-it-aint-gasoline/#comment-12759 Soap Wed, 09 Jul 2008 17:36:26 +0000 http://www.zoliblog.com/?p=1345#comment-12759 Well, it wouldn't take long for any savings to disappear fast if the company went out of business. What is scary is using this model, the company could run for a considerable time possibly in the red... using future purchase money to pay for today's losses. At some point... either gas falls and the company wins... or the company goes bankrupt... and the company probably still wins. Well, it wouldn’t take long for any savings to disappear fast if the company went out of business. What is scary is using this model, the company could run for a considerable time possibly in the red… using future purchase money to pay for today’s losses. At some point… either gas falls and the company wins… or the company goes bankrupt… and the company probably still wins.

]]> By: MyGallons.com - I Smell Something, and it Ain’t Gasoline http://www.zoliblog.com/2008/07/08/mygallonscom-i-smell-something-and-it-aint-gasoline/#comment-12741 MyGallons.com - I Smell Something, and it Ain’t Gasoline Tue, 08 Jul 2008 21:14:15 +0000 http://www.zoliblog.com/?p=1345#comment-12741 [...] Go to the author’s original blog: MyGallons.com - I Smell Something, and it Ain’t Gasoline [...] [...] Go to the author’s original blog: MyGallons.com – I Smell Something, and it Ain’t Gasoline [...]

]]> By: Rob http://www.zoliblog.com/2008/07/08/mygallonscom-i-smell-something-and-it-aint-gasoline/#comment-12730 Rob Tue, 08 Jul 2008 10:51:47 +0000 http://www.zoliblog.com/?p=1345#comment-12730 Zoli, thanks for pointing that out. I also thought the idea felt a little fishy. However, big corporations have been essentially doing this very thing for a long time: buying hedges against fluctuations in one thing or another be it food, currencies or even fuel. I suppose it could be a profitable model provided MyGallons found someone to underwrite a large hedge against gas for X and then he effectively resold that for a markup. I suspect though that even if he did that, his prices would be even less attractive than he's publishing now. The newer story of the First Fuel Bank over at Autoblog seems to be a more legit version of this idea though I haven't really dug into it. Zoli, thanks for pointing that out. I also thought the idea felt a little fishy.

However, big corporations have been essentially doing this very thing for a long time: buying hedges against fluctuations in one thing or another be it food, currencies or even fuel.

I suppose it could be a profitable model provided MyGallons found someone to underwrite a large hedge against gas for X and then he effectively resold that for a markup. I suspect though that even if he did that, his prices would be even less attractive than he’s publishing now.

The newer story of the First Fuel Bank over at Autoblog seems to be a more legit version of this idea though I haven’t really dug into it.

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