Contact your Congress critters to let them know that you are tired of high gas prices.
Posted on 07/20/2008 7:25:41 PM PDT by Flavius
Are we seeing another speculative bubble or are crude oil prices merely responding to fundamental changes in worldwide demand? Are U.S. crude oil prices likely to drop sharply, say back to the levels of 2003, when the average was about $31 per barrel, or will worldwide demand keep prices at or near record levels?
(Excerpt) Read more at adn.com ...
What the US doesn’t seem to consider is that imported crude oil is delivered via long sea routes which are potential terrorist targets. Drilling for and processing the crude here at home would reduce these target areas.
I’d be happy enough at $1/gal for Diesel.
something’s up
because al gore is increasingly agitated.
No news or info here. Just another ‘’economist’’ who doesn’t have a single teeny-tiny clue about how mkts actually operate, as opposed to what the econ textbooks say.
>Are U.S. crude oil prices likely to drop sharply, say back to the levels of 2003, when the average was about $31 per barrel,
Uh, no.
Either this guy is smoking crack, or he is smoking stone hard stupid.
They will begin pumping like crazy in order to dog the Iranian oil market, Sunnis vs Shiites.
No problem, just hang in for the drop.
Dubyah asked the Saudis nice-nice. Now the game is afoot!
Well, we might see a small drop in demand over the next month as China takes several million vehicles off the road and closes thousands of factories in an attempt to reduce the suffocating air pollution for the Olympic games.
Every little bit helps, I guess.
They are really having a healthy emphasis on the Olympics, there was another guy that did that once before.
Just cant place it.
No no, thats crazy talk, oil is masterfully traded with most noble intentions, to grease the great market.
I myself like the Tulips.
“I don’t think you will see gas blow $3 again unless there is a depression.”
I’m not making any predictions yet. My China remark was mostly tongue-in-cheek, and poking some fun at their extraordinary efforts to try and clear some of the pollution. And most of these nutty global warming schemes exempt China and India from cutting their emissions.
Contact your Congress critters to let them know that you are tired of high gas prices.
Never say never.
It’s already dropped to $3.75/gal where I am. If the decline keeps up, at this rate it will be below $3/gal by thanksgiving.
‘course, we could be in a depression by then too...
Yep, tulips.
I’m waiting for my hoard of bulbs to really take off in value. I also got a hoard of elevator switches and some sizeable shares of napster stock that I’m sitting on.
Any day now, my ship is going to come in.
Hah! You’re still hording shower nozzles, aren’t ya! Not to mention those two gallon flush toilets. [I’m trying to stock up on tuna, canned tuna ... the global warming catastrophe has to be just a week or two away ‘cause the goreghoul has spoken.]
The first amendment allows everyone to express their opinion.
It doesn’t guarantee that it will be worth reading, and this particular article is not.
Yep. And mercury switches. mercury is getting phased out too ya know. I used to have a stockpile of R-12 freon too.
>No problem, just hang in for the drop.
Please don’t mind that I’m not going to bet the $10,000 a pop futures on that scenario.
No other trader will, either. :)
That's what my money is on ...those here who vehemently support $140 oil (and you know who you are) have a hidden agenda and I wouldn't believe a word they say on the subject...I have credible sources who say that there is no reason for oil to be over $65 / barrel.....others can go ahead and say what they will...to which I will say "blah blah blah talk to the hand".... ;o)
Saudi Arabia is building big addtional pumping capacity and within two years should be able to pump 15 millions gallons a day. They are worried about several things. 1) Their huge non-oil investments getting hammered by a global oil-induced recession. 2) High prices bringing alternative sources.
What I found quite revealing: the price of gas in SC. NC, gas is selling around $4.04/gal. SC, we got gas at $3.71/gallon. .30 cents/gallon different. That's significant.
Ok, now to my point. I don't have any trouble believing that "demand" overall is down. What I suspect, however, is that unless price per barrel goes down, certain oil producing companies are going to be paying HIGH prices for imports of items they really need.
I think there's been some tough talk at the "trading" boards. Coupled with the opening for American drilling.
In sum, American drilling of offshore and trading partners has been driving a point home to roost. No puns intended.
Someone pointed out on an earlier thread that the Nazis hosted the Olympics and were gone within 10 years. The Soviets hosted the Olympics and were gone within 10 years. One can only hope the same thing happens with the Chicoms.
You can forget thata bout $1/gal gas ever again.
Now that the Politicians on both sides of the aisle have seen that citizens can shoulder the load of $4/gal gas, future drops in crude prices will be matched by increases in gasoline taxes by our politicos in the name of “conservation” and “highway infrastructure”.
No way to ever get below $3/gal.
Thank you, Washington.
Home Brew Diesel of some type. Time to drop out from the Big Islamic Oil cabal.
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