Skip to comments.WTH is going on with oil?
Posted on 05/20/2010 11:02:24 AM PDT by mikelets456
WTH is going on with oil... Down another $5 today. Also, it is down $25 over the last three weeks but no change at the pump... why? Memorial day weekend?
Is this due to our strnger dollar?
All I know is IM LOVIN’ IT!
No manufacturing, use is down, supply is up, prices are lower...This is NOT a good thing...
“but no change at the pump”
We’ve dropped 10 cents per gal in the past 10 days. Oil prices today actually reflect gas prices weeks to a month out.
Go to a different gas station. The price at the pump has been going down for the last two weeks.....
There is an approximate 2-3 week delay from the impact of the price per barrel.
As they say....
The price change takes a while to work it’s way through the pipleline.
Several factors at work: reduced average seasonal US gasoline demand (due to weak economic growth), higher-than-expected gasoline inventories as well as US crude oil reserves, and a stronger US dollar.
Obama and his Ebonomic Plan.
May is the month where refineries switch over to summer blends. This temporarily reduces gasoline inventories, even though oil inventories are plentiful and relatively cheap. This accounts for at least some of the increased cost of gasoline relative to the cost of crude.
You got some 'splainin' to do. Yeah, the no manufacturing part sucks, but the rest is definitely good news.
Scouts Out! Cavalry Ho!
As a manufacturer who serves many industries I can tell you, without hesitation, that THE ECONOMY IS SLOWING DOWN AGAIN.
Oil demand is dropping, and some of the speculators are getting squeezed into liquidating long positions.
Personally I think it is a reflection of a massive reduction in demand in the coming months to years. We are enterting a depression...
Prices have been going down at the pumps around here.
Yup. I left the job site Tuesday to go get drinks for my guys and passed the RaceTrac on the way. Regular unleaded was $2.719. By the time I got the drinks and headed back, the RaceTrac sign said $2.689.
Maybe demand is cratering as the Obama depression widens?
Scouts Out! Cavalry Ho!
In fact, the economy is currently being ARTIFICIALLY STIMULATED by the approaching tax-rate increases on January 1st. Watch for crash on or before January 1st, as businesses and individuals cease economic activity that will no longer pay in 2011.
Mostly it is because the Euro is falling. The dirty secret is that even though the dollar is supposedly the official unit of price, it has been pegged to the Euro for awhile in reality.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.