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Oil under $100???

as it goes down, some analysts here are still calling for $1.75 per litre by christmas!!!!!!!!!
 
it's funny.
They shut down a few rigs in the gulf of mexico and the price of fuel that afternoon shot up 20cents a gallon to 3.87 at shell stations.
Across the street there is a station not associated with shell and the price is 3.53 a gallon.

According to the talking heads gas should be 3 dollars a gallon at 100 dollars a barrel or 33 dollars a barrel for each dollar you pay for gas.
 
chit went from 3.45 to 3.59 on Friday due to the huricane:mad:

Oil was 98.99 in Asia today....i'm getting sick of waiting for the price to drop....I seriously think it's to late, the tides have changed. Even if gas falls back in line with oil costs, people are wanting hybrids and better MPGs.
 
chit went from 3.45 to 3.59 on Friday due to the huricane:mad:

Oil was 98.99 in Asia today....i'm getting sick of waiting for the price to drop....I seriously think it's to late, the tides have changed. Even if gas falls back in line with oil costs, people are wanting hybrids and better MPGs.

I guess you dont remember what happened in the 80's then. Yet shortly after the "Crisis", everything went back to normal.

People need to stop being so near sighted.
 
I remember in the late 70's we had gas lines. Large gas guzzling cars (8 mpg was the norm) became taboo. They came out with very fuel efficient cars that had zero power. As engine tech. got better so did performance. Now we have 200hp 6 cyclinders that flat out rock and get 25-30 mpg.

Everyone is calling for hybrids (i.e. liberals who are trying to push their agenda), why?
Oil is not is short supply, just the liberals and enviro's won't allow us to get the oil we have. Their thoughts are if they can make it SO expensive we will have no choice but to do what they want.

Saudia Arabia has pulled out of OPEC for it's short sightedness on oil and the price of oil. Some of the major players in OPEC want to cut production even further to try and keep oil at 130- 140 a barrel. Saudia Arabia is calling for oil to be at 50 - 70 dollars a barrel. Saudia Arabia is trying to tell the other OPEC leaders that if they continue to abuse their power with the price of oil, they will soon find themselves with tankers full of oil that no-one needs or wants because we will have found other ways.

The price of oil is going to crash.
 
have to agree with ollie, oil is going to crash, just wait for those oil traders on wall street to get there margin calls.
 
Price per barrell is based on futures...in other words it will take a bit for the savings to trickle back down to us. The spike you saw was due to the cost per barrel increasing a few weeks back and the hurricanes don't help.
Gas is not worth more than $70/barrell to make...so many say it will drop to at least that if not below...you can't support a false priceline in any economic situation, it'll all equal-out eventually. I'd guess we'll be at around $2.50 in the states come Christmas.
 
i would say the way the price is dropping that it is crashing right before our eyes
 
Our Economy is a house of cards right now, waiting for somebody/something to create a breeze.
Banks are failing due to making loans with international money that aren't being repaid.
Stocks are backed by false financials.
Oil, food, health ins, electricity/heating, mortgages are putting extreme pressure on us as a consumer.
And unemployment, and the self employed are struggling, (we just aren't able to keep up with all this).

It's all stems from greed. The whitehouse is trying to keep the oil up. Gov allowed creative loans to be made to consumers who didn't qualify. Why is it that almost everything we buy in the U.S is made oversees? In fact the only people that believe we arn't in a recession is the whitehouse.

You have to remember that the U.S. is a young country, compared to the European areas. These established areas have fought and been successful with government. (protests, rebellion)

Back to the oil:
There are tankers offshore full of crude. There is a surplus of oil in the U.S., in fact Bush want 76000000 barrels a day to be delivered to the Lousianna/Texas gulf coast so our crude surplus can be stockpiled in case of terrorist attack.

Well, at least we all have snow just around the corner!!!!
 
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