Skip to comments.Oil Prices Likely to Keep Falling as US Output Booms
Posted on 07/12/2014 8:48:19 AM PDT by rktman
New U.S. pipelines and a revival in Libyan supply are increasing the likelihood that oil prices will slump through year-end after climbing in the first six months.
Wall Street analysts tracked by Bloomberg predict West Texas Intermediate oil, the U.S. benchmark, will average $100 a barrel in the fourth quarter, down 5.1 percent from June 30, while Brent drops 4.8 percent to $107. Violence in Iraq sent Brent to $115.71 in June, its highest level since September, on concern supplies would be disrupted.
(Excerpt) Read more at moneynews.com ...
Despite the best efforts of Dear Leader and the greenies, the strength of the free market prevails.
Never let a good crisis go to waste.
Expect the Dear Leader to restrain the flow of American oil because it is hurting our Saudi “friends”.
The commie ‘RATS always drop the gasoline prices around their “elections”. It’s a banana republic trick that works every time with a dumb electorate.
Just watch B0Dunhamsoetorosoebarkah take full credit for any price declines.
Just like Bubba owning the dot com surge.
Maybe but don’t expect much lower. Costs to get the oil out of the ground in the US are $80-90 per barrel, or so I’ve read.
And the greenies want us all riding bicycles, believing commerce would be unaffected. The left’s ability to imagine an environmental cataclysm is staggering, but to contemplate a national security or economic cataclysm is beyond their ability to comprehend.
Not because of the actions of the Current Occupant, but either in spite of his actions, or taking no action at all.
“Inept” is the kindest description yet of The Won’s performance in office, and from there it proceeds to “incompetent”, to “lazy”, all the way to “with malicious intent”.
Easy answer on Mexico? Annex it, and administer it like Puerto Rico.
Or maybe like Guantanamo Bay. Just a vast prison camp.
REAL control of the Mexican border - excavate a sea-level canal all the way from Brownsville, Texas, to Chula Vista, California, wide enough for the very largest of ocean vessels to travel four abreast.
Mexico would no longer be contiguous with the continental United States.
And we would control the canal and NOT turn it over to the Chinese to run? Yeah, that was a real smart move. Of course the envirowackos would have their collective heads spinning if such a thing were to even be proposed. I remember when there was some activity to build a trans-Florida canal so folks wouldn’t have to transit all the way around the keys. Kinda like a mini version of the PC so folks didn’t have to go all the way to frickin’ Patagonia to get to the Pacific. Now that’s a LONG ride.
... Now that the prices are going down ... it’s time to slip in a tax upon gasoline prices so that the electorate won’t notice it.
The Democrats will hate this.
No thanks to Obama and his minions.