Oil was about $20 when bill klinton was in and with Boama it is $85?
Ummmm..., with President Bush it was about $140 ... LOL ...
Posted on 04/25/2010 7:10:51 PM PDT by Flavius
NEW YORK (Dow Jones)--Crude oil futures dropped Thursday, as the front-month contract comes under increasing pressure from a developing surplus at its delivery point in Cushing, Okla.
Light, sweet crude for June delivery traded $1.224 or 1.5%, lower at $82.44 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange traded 86 cents, or 1%, lower at $84.84 a barrel.
Oil inventories at Cushing reached 34.1 million barrels in the week ended April 16, less than 1 million barrels shy of a record, the U.S. Energy Information Administration said Wednesday. The extra oil has few outlets, with stockpiles across the Midwest at their highest in at least 20 years and refiners already producing enough fuel to further inflate gasoline and distillate inventories.
(Excerpt) Read more at cattlenetwork.com ...
Anything, up to and including nuclear strikes, which harms the Saudis is OK with me.
Yet more evidence that nothing of substance has changed and that oil should NOT be trading at $80+ a bbl. There are still tankers loaded with crude waiting off shore.
Guaranteed, Goldman has shorted oil big time
The Fed and the MORONS inside the beltway are about to crushed by the free market. Socialism always fails, always.
None of this makes sense to me, gasoline is over $3/gallon where I live and according to this article, there’s no reason for that......
Oil was about $20 when bill klinton was in and with Boama it is $85?
Ummmm..., with President Bush it was about $140 ... LOL ...
Isn’t tankers loaded with crude a sign that there is a contango and spot prices will rise?
None of this makes sense to me, gasoline is over $3/gallon where I live and according to this article, there’s no reason for that......
It doesn't seem that gasoline prices necessarily and/or always make sense with oil prices. Apparently a lot more goes into it...
Look at the gas price line (the blue line) for where I'm at (that's Tulsa). And look at the red line (that's the oil price line). It doesn't always make sense ... :-)
Crooked arabs, crooked south americans, crooked US oil companies. Those are the reasons prices are so high. It’s not a free market.
I’m sure we’ll see an immediate corresponding drop in prices at the pumps.
In your dreams. Come to think about it, that’s one thing I dream about, too.
DRILL, BABY, DRILL!
in the really long run, everything fails.
I just looked and ours has gone down 4 cents over the weekend.
2006 Dem NO Energy policy Congress - elected thanks to McCain Feingold. The Dem 2006 Congress is a major reason why oil spiked.
Regulations, taxes, fees, EPA, etc, etc.
Too many different blends of gasoline for different parts of the country, and expensive ethanol that the gov is forcing to add to gasoline.
That’s still pricey at $80. Around $50 April last.
I know, that probably adds a buck. Another buck is the stuff I listed. Gas should be 75 cents or so like it was in the late 90s.
I know, that probably adds a buck. Another buck is the stuff I listed. Gas should be 75 cents or so like it was in the late 90s.
Ummmm..., okay! That was a buck for what you said, and a buck for what the other guy said -- so that leaves our gas in Tulsa, Oklahoma selling for 50-cents then! LOL ...
US Oil demand is down because the economy sucks.
I hear you. I do both, but gold is more preferrable. I can actually hold gold that I own. Oil is hard to hold. I only get printed pieces of paper saying I have a claim to some oil. I also have some green pieces of paper that with similar promises.
They may have run it up just to run it down...
Maybe you aught to look at 2006 and start in November when the Dems took over the House and Senate. Buuuuut I know::: “BUSH”s FAULT” LOL
Maybe you aught to look at 2006 and start in November when the Dems took over the House and Senate. Buuuuut I know::: “BUSH”s FAULT” LOL
Take a look at the original poster ... he's the one who picked the "methodology" of choosing "President's names" and associating them with what he was saying -- and thus, I was following his methodology of using a President's name, during the time period of the highest oil prices ever...
If he had used "Congress" instead, in his example, I would have followed through with a comment regarding "Congress" during that same time period, doncha know ... :-)
to post 18.
the oil companies love regulations.
new diesel
300 kinds of gasoline
etc
It does not just hurt the Saudis. We're drilling in the USA, too, and one of the best state economies in the nation is wrapped around the Bakken right now (4.5% unemployment, no housing bust (in fact a shortage), and the state is in the black). Drop the price past 60 and that will slow waaay down.
I am sure any drop in gasoline prices will be more than compensated for by whatever means the Obamites impose Cap and Tax, with the oil companies getting the blame, of course.
When the government makes taxes off the oil companies 3X the oil company profits, without risking a nickel, then blames the oil companies for the price?
How about the crooked government?
Who else can lease a block for exploration and then pull the lease after millions in preliminary costs have been forked out to find out where to drill?
Would you take a pay cut to 'late 90s' wages?
Much of what is drilled today couldn't be produced in the late '90s. The technology wasn't there.
Bush did try to let us drill for oil. Bush was for oil shale development. The Environmental religion wants to take away our energy, use of land and our rights. They want to destroy the people. Opec shut the valves to lower supply. The liberals had pinched off our oil. We have 6 times the oil of saudi arabia so why is there a shortage? liberals
Oil has been a target since the 2006 elections changed the leader of the House. The democRATS have killed oil leases since O took office - with the help of a supportive congress. Too bad some of the oil companies and the Republicans can’t figure out how to explain that to the folks paying 2.80 for a gal. of gas.
Crooked Oil Cartels are who to blame. The Oil Companies have to pay the price they set and buy it from them to refine it.
Oil Companies (Big Oil) merely tack on 26% to survive, regardless of the price per barrel. Their bottom line “profit” is from 5 to 8%. NO other corporation on Earth could survive on such a small profit margin. Instead of vilified, they should be admired. If the Federal Government could just operate like them......
The added costs to fuel and the sole reason they stay high when oil prices drop, is the added regulation and high cost of refining the government mandated “blends” of fuel for pollution, EPA, California, etc,, standards.
The real “profits” go to dictators and cartels who are like Mafia families, who manipulate World prices for their own gain. Hugo Chavez is one of them, Russia is another.
Educate yourself first, before you shoot your mouth off to a group of people who know and live the true story. You won’t look like such an ignorant idiot that way.
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