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| | From:  Henry-the8th (Original Message) | Sent: 11/21/2008 12:44 AM |
the failing economy is Bush's fault. or does Obama automaticly get credit for crude prices? http://news.bbc.co.uk/1/hi/business/7739352.stm Oil prices have fallen below $50 a barrel for the first time since May 2005 amid fears of a recession and expectations that demand will drop. US light sweet crude fell to $49.62, while London-traded Brent crude fell to $48.90 a barrel. The price of oil is around two-thirds cheaper than in July, when it hit a record above $147 a barrel. Members of oil cartel Opec are to meet on November 29, after opting to cut output by 1.5 million barrels per day. "The lack of any positive news on the demand front as well as continued global economic turmoil continues to result in a dearth of bullish news," said Jonathan Kornafel, Asia director of Hudson Capital Energy. |
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$1.77 here as of today. I am thrilled, gotta tellya's! In Jersey it's got to be at least twenty cents less per gallon than Pennsylvnia. |
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I paid less then$2/glln in Delaware - for 89 octane.
for now on, Im stealing my gasoline from Stanley's tank - its much cheaper. |
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Heheheh!! No more, Henry. I went out and bought a tank lock!  |
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| emmm, do you keep your keys by the Doberman Pincher? |
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I just caught part of 60minutes.
there's a concern that if crude goes too far down, oil companies wont have the money to pump it out new supplies - let alone R/D. |
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| | | From: Opar5 | Sent: 12/10/2008 1:34 AM |
(# 32) MODave, People are driving less; it's called price and demand. The last big price hikes were futures buying by soverign-funds from the oil-producing states. Since their money wasn't at risk they could afford it; other investors were duped into following suit. We paid the price at the pump. When demand exceeds what's available, the prices will go up again. That's the theory behind cutting production, and since those oil-fields are reasonably believed to be finite resources, thus a reasonable act in the long run. It isn't as if those grandsons of camel drivers are worrying about the mortgage. |
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I drive into work. I drive home. I drive to the store. I drive home. That's it for me. I can run all week on one tank of gas. Nooo problem. |
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| | | From: DDuct2 | Sent: 12/10/2008 2:36 PM |
$1.25 here and loving it! Projected to go even lower. |
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if you're driving thru Philadelphia, then gas is free if you steal it from Stnley Levin's tank. note to self: avoid Stanley's Dobermans. |
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Not to worry, Obama will drive it back over $4 per gallon. Curm |
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Dave, are you suggesting auto manufacterers are secretly dealing with the Arabs? |
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First
I hear many Dem folks saying Bush lowered the price to help his party, as they do with every election, guess he even lowered it for Clinton in '96, to a near record low level. The election has been over for over a month and prices are still falling, maybe he's been busy with getting ready to move and all and forgot to raise the prices again,lol.
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