Posted on 04/20/2006 4:24:26 PM PDT by B Knotts
That makes perfect sense in a free market.
However, we currently see high levels of oil stocks in America... which means that the demand for crude oil is lower... which is somehow increasing the price of oil?
So, I don't expect the price of oil to drop on the sound free market principle of a reduced demand reducing prices.
Elsewise, we'd be seeing it happen in the right here and now.
:-(
Spoken like a true Chinese water-torture victim with a new paper towel.
FReep this poll:
http://www.freerepublic.com/focus/f-news/1618602/posts?page=11#11
Senator Mike DeWine has voted against drilling in ANWR four times
Bill Pierce, US GOP Senate Candidate to Unseat Mike DeWine in Ohio, on ANWR and Energy
http://www.freerepublic.com/focus/bloggers/1618628/posts?page=1
Poll FReeped. Thanks!
According to inflation calculators, the salary I make today is a couple thousand dollars below the salary I made in 1998.
...if every auto would burn just a gallon less per week (that means the driver of course)...
http://www.onlineconversion.com/volume.htm
42 gallon [US, liquid] = 1 barrel [US, petroleum]
2,000,000 barrel [US, petroleum] = 84,000,000 gallon [US, liquid]
There are in excess of 200 million vehicles; if only 84 million burned one less gallon per week...
Bush warns looters, urges Americans conserve gas
Reuters | Sep 1, 2005 | Steve Holland, Caren Bohan, and Adam Entous
Posted on 09/02/2005 6:26:15 AM PDT by grundle
http://www.freerepublic.com/focus/f-news/1475533/posts
[http://www.freerepublic.com/focus/news/1473964/posts?page=169#169]
:-))
"$80/barrel?
I expect to see $90-100/barrel by the end of summer..."
We'll see, I hope your wrong.
"However, we currently see high levels of oil stocks in America... which means that the demand for crude oil is lower... which is somehow increasing the price of oil?
So, I don't expect the price of oil to drop on the sound free market principle of a reduced demand reducing prices."
Your are correct. What is really messed up is heating oil. $2.50 a gallon here in the North East. Thank God we had a mild winter, I burn about 200 gallons a month when it's cold. Their is a MAJOR surplus of heating oil this season, but the price went UP!
"the difference is in the 70's there was a savings rate. so many people today live on the edge of financial disaster plus these high prices are sustained not a spike like happened in the 70's i'm in sales and i see peoples discretionary spending going out the window. this whole mess is going to hit the economy soon"
Yes it is. I made $94k last year, live in Maine and have low debt. I live comfortably, but 3 years ago I would have considered myself almost wealthy. Now our family is just paying the bills and I can only save about 5% for savings and vacations vs. 15% three years ago. I can't imagine how families who make less then $60k a year are even making it up here in the Northeast. Guess you can always eat bologna, rent videos and have no health insurance...
Well, oil hit $75/barrel today... and it doesn't look like the trend is stopping.
Figure it'll hit $80 within the next 2-3 weeks.
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