Posted on 01/22/2008 3:01:20 AM PST by Flavius
LONDON (AFP) - World oil prices slid on worsening worries about a potential drop in energy demand owing to the weakness of the US economy, analysts said Monday. ADVERTISEMENT
New York's main contract, light sweet crude for delivery in February, shed 1.72 dollars to 88.85 dollars per barrel in electronic deals.
dont forget the petro dollars has been week for years there hombre
dump ethanol, drill ANWR.
actually i would be happier if they converted domestic methane to diesel
its a shame we are still driving around with 10mpg contraptions
I see now. This explains why gas went UP $.30 a gallon in Louisville yesterday.
Who wudda thunk it?
Certainly not what has been espoused by the lame MSM.
It should get real interesting when the "Globullistst" hand us out a ration card and begin drilling our once sovereign nation.
HiramQuick: “I don’t know where you have been hiding but most 10 mpg contraptions have hit the boneyards 2 decades ago.”
LOL. True, except for my old F250. Nevertheless, I’m curious what Flavius would do to “fix” the problem. The only correct answer for a conservative is to let the market fix it. Case in point, my truck. It drinks gas like there’s no tomorrow, but it’s completely paid for and has gobs of power. Like any consumer, I’m constantly evaluating the use of the vehicle versus its cost. I end up using it only when I have a specific purpose that justifies the expense, such as hauling construction materials. That’s the beauty of the market. It ultimately produces the most economical outcome—the best use of resources. Government meddling only distorts the existing market, yet many nowadays see government as the solution to the very problems government has exacerbated. Essentially, even liberals understand this. For them, it’s a game of trying to find out how much they can strangle the goose without actually killing it.
Anyone who can analyze how our economy works, how it got that way and is able to see what has happened in the past realizes gov intervention is almost always a really bad idea.
I’m on the fence with speculative investing, especially futures for raw materials and the like... grain, fuel, etc.
Like it or not, speculative investment is THE reason energy prices are so high. Sure, there are some global economies contributing to the problem, but I think it’s safe to say the biggest hunk of over inflated fuel costs are due to the overgrown baseball card dealers who infect the market. Every time it rains heavy in TX or a refinery announces maint down time, prices surge. It stinks, but it is still likely best left to sort itself out. Our current market situation is a good example. It’s falling out of control as some would say. However much it sucks, I call it a long overdue adjustment. I think we all agree that this huge market slide we are watching will benefit us in the years to come, it makes us healthy again. I feel the same way about oil prices. The market will adjust... in the case of oil, eventually the market will have no more demand for it (or very little). Where the silver bullet will come from is still unknown, but as long as there is a profit in the solution, someone will cough one up eventually.
“Speculative investing” is the reason oil even came out of the ground in the first place.
“Speculative investing” is the reason oil even came out of the ground in the first place.”
and it wasn’t as much of a staple for our economy then, it is now. huge difference in my humble opinion.
so you want me a single investor to fix a manipulated market place?
no actually I’m buying a 25-30 k hybrid garbage so that I can save 1000 dollars a year while watching another oil crash
not so much
happy trails
yes it had nothing to do with dollar dumping for years and some foreign invetment funds buying oil futures after getting rid of black gold at nice margins
Do you understand we consume more natural gas already than we produce domestically?
The cost of the raw product is expected to go up. In order to protect itself, the Oil Industry must purchase tomorrow's gas at tomorrow's prices to provide the gas tomorrow that you want today. The cost of the next gallon of gas you buy must be purchased at the higher anticipiated cost than today's gas was, yesterday when it was in the ground. This is why, when gas goes up, it goes up quickly, in response to the increased cost of raw materials endured by the Oil Industry on your behalf.
On the rare occasion when the cost of raw crude goes down, it takes several months for them to change those little numbers way up there on the signs. I mean, they have to get the ladder out and everything.
[/BULL]
why are they importing it while chinese ar drilling it in cuba
hmm
I hope speculators lose everything that they own... I hope that their homes become infected with termites... that herpes infects their loins. BA$TARD$!
LLS
Here’s an interesting question to ponder: would the liberals be in favor of allowing Communist countries to come in and drill in ANWR? I bet they would.
FunkyZero: “Where the silver bullet will come from is still unknown, but as long as there is a profit in the solution, someone will cough one up eventually.”
Agreed. The free market is self-correcting. Maybe there isn’t an easy solution to the world’s energy problems, but I have no doubt the market will find one if possible. Haven’t the voters finally figured out that promises of “energy independence” from politicians never pan out? Politicians, for all their fine talk, cannot ignore science and technology. All they do is muck up market attempts to find realistic solutions.
The US isn’t Cuba. If we got natural gas from there we would still be importing it.
However, Cuba has little natural gas. If we took 100% of their natural gas production, it would be about 3/10 of one percent of what we already import from other countries.
World Dry Natural Gas Production by Country
http://www.eia.doe.gov/emeu/international/RecentNaturalGasProductionTCF.xls
U.S. Natural Gas Imports by Country
http://tonto.eia.doe.gov/dnav/ng/ng_move_impc_s1_a.htm
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