Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Surging oil prices weighing on markets
Yahoo Finance ^ | February 27,2012 | Pan Pylas

Posted on 02/27/2012 4:59:21 AM PST by Hojczyk

Surging oil prices weighing on markets amid fears they could choke off economic growth

Sky-high oil prices weighed on markets Monday as investors worried that the increases could choke off a burgeoning economic recovery, particularly in the U.S.

Sentiment in the markets has been buoyed in recent weeks by a seeming calm in Europe's debt crisis and a run of strong U.S. economic data, particularly with regard to jobs.

One side-effect of the positive U.S. economic newsflow has been to put upward pressure on oil prices. Despite a modest retreat back below $109 a barrel Monday, the benchmark New York rate is trading way above where it was just a month ago. Last Friday, it hit $109.77 a barrel, its highest close since May 3. Crude has soared from $96 earlier this month as stronger U.S. economic indicators bolstered investor confidence.

"At this stage of the global economic cycle, with activity in many of the major advanced economies sluggish, a rise in oil prices threatens to intensify the recessionary prospects facing these economies while, at the same time, raising the headline rates of inflation," said Neil MacKinnon, global macro strategist at VTB Capital.

That fear has weighed on markets Monday.

In Europe, the FTSE 100 index of leading British shares was down 0.7 percent at 5,894 while Germany's DAX fell 1.1 percent to 6,789. The CAC-40 in France fell 1 percent to 3,432.

(Excerpt) Read more at finance.yahoo.com ...


TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS:

1 posted on 02/27/2012 4:59:22 AM PST by Hojczyk
[ Post Reply | Private Reply | View Replies]

To: Hojczyk

a “burgeoning economic recovery”?

cough cough hack

(sorry lamestream MEdia hairball)


2 posted on 02/27/2012 5:01:53 AM PST by silverleaf (Funny how all the people who are for abortion are already born)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Hojczyk

I thought that energy and food prices, you know, the things that people buy on a daily basis, are not included in the official calculation of inflation! That’s why there is no inflation to be worried about, and we can keep on spending and printing money.


3 posted on 02/27/2012 5:03:15 AM PST by winner3000 (ss)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Hojczyk
at the same time, raising the headline rates of inflation

Aren't we lucky not to have that problem. We just don't count energy in our inflation statistics. It's easy!

4 posted on 02/27/2012 5:09:12 AM PST by BfloGuy (The final outcome of the credit expansion is general impoverishment.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Hojczyk
Headline is a world not ruled by satan:

“SURGING ENERGY COSTS DRIVE ECONOMIC DEPPRESSION DEEPER... some economists fear we will never dig our way out”

LLS

5 posted on 02/27/2012 5:10:19 AM PST by LibLieSlayer (Hey repubic elite scumbags... jam mitt up your collective arses!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Hojczyk
Imagine how those “evil” speculators that Obama says are driving up oil prices would react to a go ahead to building the XL Pipeline taking a large chuck of the US oil market and giving it to non OPEC member Canada? Somehow I think the effect would be more positive than the ludicrous make gasoline from algae scheme Obama is proposing.
6 posted on 02/27/2012 5:13:23 AM PST by The Great RJ ("The problem with socialism is that pretty soon you run out of other people's money" M. Thatcher)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Hojczyk

I am real curious to see how this ‘recovery’ does this quarter. The numbers can only be fudged for so long...and then I suspect a cliff-like drop.

Stories like this one are already preparing us to feel helpless to the world economy and world oil market...and to get ready for the crash.


7 posted on 02/27/2012 5:13:41 AM PST by lacrew (Mr. Soetoro, we regret to inform you that your race card is over the credit limit.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Hojczyk

Oil needs to be removed from the commodities market. The price of oil has in no way any reflection on current stocks or demand. Enough already.


8 posted on 02/27/2012 5:16:22 AM PST by Peter from Rutland
[ Post Reply | Private Reply | To 1 | View Replies]

To: LibLieSlayer
Fortunately, if we follow "The Won's" advice, "Algae, tune-ups and tire pressure" should soon solve this problem.
9 posted on 02/27/2012 5:17:10 AM PST by radioone
[ Post Reply | Private Reply | To 5 | View Replies]

To: Hojczyk; ding_dong_daddy_from_dumas; stephenjohnbanker; DoughtyOne; calcowgirl; Gilbo_3; NFHale; ...
RE :”Sky-high oil prices weighed on markets Monday as investors worried that the increases could choke off a burgeoning economic recovery, particularly in the U.S.
Sentiment in the markets has been buoyed in recent weeks by a seeming calm in Europe's debt crisis and a run of strong U.S. economic data, particularly with regard to jobs.
One side-effect of the positive U.S. economic newsflow has been to put upward pressure on oil prices. Despite a modest retreat back below $109 a barrel Monday, the benchmark New York rate is trading way above where it was just a month ago. Last Friday, it hit $109.77 a barrel, its highest close since May 3. Crude has soared from $96 earlier this month as stronger U.S. economic indicators bolstered investor confidence.

How about all those dollars the Federal Reserve has been creating to keep interest rates low while the treasury runs debts of 1.3 T$ per year? That can't lead to a good outcome despite what the MSM tells us.

In Obama’s case he hopes to just get past the election before it all blows up.

10 posted on 02/27/2012 5:17:19 AM PST by sickoflibs (You MUST support the lesser of two RINOs or we all die!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Hojczyk

Oil needs to be removed from the commodities market. The price of oil has in no way any reflection on current stocks or demand. Enough already.


11 posted on 02/27/2012 5:17:27 AM PST by Peter from Rutland
[ Post Reply | Private Reply | To 1 | View Replies]

To: Hojczyk

Golly Gosh! It’s a good thing oil prices aren’t included in inflation or things could really be bad.


12 posted on 02/27/2012 5:19:43 AM PST by N. Theknow (Kennedys=Can't drive, can't ski, can't fly, can't skipper a boat, but they know what's best for you.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: The Great RJ
Somehow I think the effect would be more positive than the ludicrous make gasoline from algae scheme Obama is proposing.

And as we have been told, any "new" oil takes 10 long years before it can impact the market, but algae-gas can magically appear OVERNIGHT!

13 posted on 02/27/2012 5:25:26 AM PST by N. Theknow (Kennedys=Can't drive, can't ski, can't fly, can't skipper a boat, but they know what's best for you.)
[ Post Reply | Private Reply | To 6 | View Replies]

To: Hojczyk

There are two impacts that high oil prices have on the economy (and ultimately the markets). The first impact is tangible...that is, as consumers and businesses spend more money on gas/transportation they have less to spend on everything else and spend less elsewhere (tighten their budgets). The second impact is emotional. That is, as consumers and businesses spend more for gas/transportation and tighten their budgets it affects their confidence in future of the economy. The second (emotional impact) will affect consumer confidence, investor confidence and business leader’s confidence for a lot longer than this spring’s oil/gasoline price runup...especially since this cycle seems to be an annual thing.


14 posted on 02/27/2012 5:25:31 AM PST by NRG1973
[ Post Reply | Private Reply | To 1 | View Replies]

To: Peter from Rutland
Oil needs to be removed from the commodities market. The price of oil has in no way any reflection on current stocks or demand. Enough already.

Thats not a good idea because it would put put the oil producers (OPEC) in charge of setting the global oil prices. If you think oil prices are high now, wait until they are being set by Hugo Chavez and Ahmed Ahmadinejad.

15 posted on 02/27/2012 5:30:41 AM PST by NRG1973
[ Post Reply | Private Reply | To 8 | View Replies]

To: winner3000
Eliminating food and fuel from the equation doesn't make the lie any better.

These people really do believe that we are that dumb. Obviously about 50% are.

16 posted on 02/27/2012 5:33:31 AM PST by unixfox (Abolish Slavery, Repeal The 16th Amendment!)
[ Post Reply | Private Reply | To 3 | View Replies]

To: Hojczyk

Oil prices are not as high as Obama really wants them.

(But they’re higher than he wants prior to the election.)


17 posted on 02/27/2012 5:33:50 AM PST by PBRSTREETGANG
[ Post Reply | Private Reply | To 1 | View Replies]

To: Hojczyk

Cheer up

Warm weather will bring Algae blooms.

Problem solved, per Zer0.


18 posted on 02/27/2012 6:01:00 AM PST by Vinnie
[ Post Reply | Private Reply | To 1 | View Replies]

To: Hojczyk

My blood boils when I read articles like this, but NOT because of why you might think.

“Despite a modest retreat back below $109 a barrel Monday...”

This quote is clearly based on the WTI Crude price. When Bush was president, articles about the price of oil CONSISTENTLY used the Brent Crude price. Under Obama, even conservative media sources have moved to the WTI Crude price.

Current WTI Crude price? $109

Current Brent Crude price? $124

Brent is ALWAYS higher, hence the reason it was used by the press when Bush was president.


19 posted on 02/27/2012 6:22:55 AM PST by bolobaby
[ Post Reply | Private Reply | To 1 | View Replies]

To: sickoflibs; ding_dong_daddy_from_dumas; stephenjohnbanker; DoughtyOne; calcowgirl; Gilbo_3; ...

“In Obama’s case he hopes to just get past the election before it all blows up.”

THIS time, the MSM will pump up the economy, instead of trash it. No Bush to blame it on.


20 posted on 02/27/2012 7:09:20 AM PST by stephenjohnbanker (God, family, country, mom, apple pie, the girl next door and a Ford F250 to pull my boat.)
[ Post Reply | Private Reply | To 10 | View Replies]

To: Hojczyk

Quick, get The FED to print up another trillion or two.

That should help the “recovery”.


21 posted on 02/27/2012 7:36:34 AM PST by PogySailor (Obama is a SCOAMF)
[ Post Reply | Private Reply | To 1 | View Replies]

To: stephenjohnbanker; sickoflibs; ding_dong_daddy_from_dumas; DoughtyOne; calcowgirl; Gilbo_3

Real simple answer to the MSM:

Everybody goes to the gas pump.

Whenever you’re there, make it a point to engage with other folks near you about “Obama’s Gas Prices - it was 1.60 a gallon before HE was elected.”

Harp on it, every time, all the time, loudly, stridently...whatever adjective you want insert.

If they argue, just point to the sign with the prices on it, and say, again, “it was 1.60 a gallon when HE was elected...and he wont let the oil companies drill here.”

You’d be surprised at how effective it is...


22 posted on 02/27/2012 9:12:07 AM PST by NFHale (The Second Amendment - By Any Means Necessary.)
[ Post Reply | Private Reply | To 20 | View Replies]

To: NFHale; stephenjohnbanker; ding_dong_daddy_from_dumas; DoughtyOne; calcowgirl; Gilbo_3
RE :”Everybody goes to the gas pump. Whenever you’re there, make it a point to engage with other folks near you about “Obama’s Gas Prices - it was 1.60 a gallon before HE was elected.” Harp on it, every time, all the time, loudly, stridently...whatever adjective you want insert. If they argue, just point to the sign with the prices on it, and say, again, “it was 1.60 a gallon when HE was elected...and he wont let the oil companies drill here.

Here's a good one to add just to kick them when they are down, my favorite sport:
Add to the above
Are gas prices MOVING IN THE RIGHT DIRECTION as Obama claims the economy is?

23 posted on 02/27/2012 9:26:05 AM PST by sickoflibs (You MUST support the lesser of two RINOs or we all die!)
[ Post Reply | Private Reply | To 22 | View Replies]

To: sickoflibs; stephenjohnbanker; ding_dong_daddy_from_dumas; DoughtyOne; calcowgirl; Gilbo_3

I’m all about kicking them...when they’re down or otherwise.

Just doing my part and showing all the love, devotion, and respect they showed my President for eight years...


24 posted on 02/27/2012 9:34:23 AM PST by NFHale (The Second Amendment - By Any Means Necessary.)
[ Post Reply | Private Reply | To 23 | View Replies]

To: NFHale; sickoflibs; stephenjohnbanker; ding_dong_daddy_from_dumas; DoughtyOne; calcowgirl; ...

Gas in Cal was 1.88 when Bush left. Now, it is 4.20 for REGULAR!


25 posted on 02/27/2012 9:47:54 AM PST by stephenjohnbanker (God, family, country, mom, apple pie, the girl next door and a Ford F250 to pull my boat.)
[ Post Reply | Private Reply | To 24 | View Replies]

To: sickoflibs
How about all those dollars the Federal Reserve has been creating to keep interest rates low while the treasury runs debts of 1.3 T$ per year? That can't lead to a good outcome despite what the MSM tells us.

History teaches us the piper will be paid...

26 posted on 02/27/2012 9:51:09 AM PST by GOPJ (GAS WAS $1.85 per gallon on the day Obama was Inaugurated! - - freeper Gaffer)
[ Post Reply | Private Reply | To 10 | View Replies]

To: NFHale; stephenjohnbanker; ding_dong_daddy_from_dumas; DoughtyOne; calcowgirl; gilbo
RE :”Just doing my part and showing all the love, devotion, and respect they showed my President for eight years

Sunday I was flipping the channels and stopped a few minutes on the Chris Matthews Sunday show and he was going on about how Republicans just hate Obama for being Obama, no valid reason, and how no POTUS in history as EVER been talked about in the way that Republicans do with Obama.

Reminds me of when Chris played a clip of Rush and then he responded to it claiming that no one ever called a POTUS administration a regime before Rush did with the 'Obama regime', and only the next day a clip of Matthews appeared where a few years earlier on Hardball he referenced the ‘Bush regime” in a negative context.

27 posted on 02/27/2012 10:03:56 AM PST by sickoflibs (You MUST support the lesser of two RINOs or we all die!)
[ Post Reply | Private Reply | To 24 | View Replies]

To: stephenjohnbanker
RE :”Gas in Cal was 1.88 when Bush left. Now, it is 4.20 for REGULAR!

Buy a solar powered car and only travel when it is sunny, and get a tax $$$ credit too.

28 posted on 02/27/2012 10:07:04 AM PST by sickoflibs (You MUST support the lesser of two RINOs or we all die!)
[ Post Reply | Private Reply | To 25 | View Replies]

To: stephenjohnbanker; NFHale; ding_dong_daddy_from_dumas; DoughtyOne; calcowgirl; Gilbo_3
Newt got some well deserved ridicule for his Manned Moon Colony campaign pitch but what is really missed is proper ridicule of Obama for lecturing us on Sea Weed as an alternative energy when gas prices are rising,

Obama is good at making fun of Republicans, are they too scared of him to return the favor?

29 posted on 02/27/2012 10:25:58 AM PST by sickoflibs (You MUST support the lesser of two RINOs or we all die!)
[ Post Reply | Private Reply | To 25 | View Replies]

To: sickoflibs

LOL!! I’m holding out for a Volt/Prius.........


30 posted on 02/27/2012 10:40:35 AM PST by stephenjohnbanker (God, family, country, mom, apple pie, the girl next door and a Ford F250 to pull my boat.)
[ Post Reply | Private Reply | To 28 | View Replies]

To: stephenjohnbanker
RE :”LOL!! I’m holding out for a Volt/Prius.........

I am waiting for a car that runs on junk mail. Then I will send the DNC a dollar.

31 posted on 02/27/2012 10:46:15 AM PST by sickoflibs (You MUST support the lesser of two RINOs or we all die!)
[ Post Reply | Private Reply | To 30 | View Replies]

To: sickoflibs; NFHale; ding_dong_daddy_from_dumas; DoughtyOne; calcowgirl; Gilbo_3

Republicans, as a whole, are afraid of their own shadow.
They should have been pounding Obama mercilously every day for years!

Obama is the easiest target we have had in American history. His incompetence is manifest, yet hardly a peep out of anyone in D.C.

AMAZING!


32 posted on 02/27/2012 10:51:49 AM PST by stephenjohnbanker (God, family, country, mom, apple pie, the girl next door and a Ford F250 to pull my boat.)
[ Post Reply | Private Reply | To 29 | View Replies]

To: stephenjohnbanker; sickoflibs; DoughtyOne; calcowgirl; Gilbo_3
THIS time, the MSM will pump up the economy, instead of trash it. No Bush to blame it on.

If it gets so bad they can't praise the economy with a straight face, my guess is they will switch to blaming the GOP house.

I blame everyone

33 posted on 02/27/2012 10:55:27 AM PST by ding_dong_daddy_from_dumas (Fool me once, shame on you -- twice, shame on me -- 100 times, it's U. S. immigration policy.)
[ Post Reply | Private Reply | To 20 | View Replies]

To: sickoflibs

Good idea!


34 posted on 02/27/2012 10:56:56 AM PST by stephenjohnbanker (God, family, country, mom, apple pie, the girl next door and a Ford F250 to pull my boat.)
[ Post Reply | Private Reply | To 31 | View Replies]

To: ding_dong_daddy_from_dumas

LOL....so do I!


35 posted on 02/27/2012 11:13:14 AM PST by stephenjohnbanker (God, family, country, mom, apple pie, the girl next door and a Ford F250 to pull my boat.)
[ Post Reply | Private Reply | To 33 | View Replies]

To: NFHale

I think it would be a hoot if some stickers were printed up, and folks pasted them on the gas pump at their local station.

Food for thought...

The average cost of gas per gallon on 01/21/2009: $1.87 (I’m not sure the exact figure, but it was near this as I understand it)

Maybe we do need someone who will allow drilling in the Gulf and a pipeline from Canada. What do you think?


36 posted on 02/27/2012 12:30:20 PM PST by DoughtyOne (Abortion? No. Gov't heath care? No. Gore on warming? No. McCain on immigration? No.)
[ Post Reply | Private Reply | To 22 | View Replies]

To: Hojczyk

For later read...


37 posted on 02/27/2012 1:17:47 PM PST by Bradís Gramma (PRAY for this country like your life depends on it....)
[ Post Reply | Private Reply | To 1 | View Replies]

To: sickoflibs; stephenjohnbanker; NFHale; ding_dong_daddy_from_dumas; DoughtyOne; calcowgirl; ...

“...are they too scared of him to return the favor?...”

I’m not....

I’ve been making fun of the donkey-eared feckless marxist douchebag since Day One...to anyone and everyone.


38 posted on 02/27/2012 2:37:56 PM PST by NFHale (The Second Amendment - By Any Means Necessary.)
[ Post Reply | Private Reply | To 29 | View Replies]

To: DoughtyOne

“...some stickers were printed up, and...”

Or better yet - A bumper sticker that says:

“5 Bucks A Gallon? THANKS OBAMA...”


39 posted on 02/27/2012 2:43:07 PM PST by NFHale (The Second Amendment - By Any Means Necessary.)
[ Post Reply | Private Reply | To 36 | View Replies]

To: NFHale

Couldn’t you have included Islamic adherent there anywhere? ;^)


40 posted on 02/27/2012 3:00:08 PM PST by DoughtyOne (Abortion? No. Gov't heath care? No. Gore on warming? No. McCain on immigration? No.)
[ Post Reply | Private Reply | To 38 | View Replies]

To: NFHale

I could live with that. ;^)


41 posted on 02/27/2012 3:03:49 PM PST by DoughtyOne (Abortion? No. Gov't heath care? No. Gore on warming? No. McCain on immigration? No.)
[ Post Reply | Private Reply | To 39 | View Replies]

To: radioone

The president was an idiot for saying it and a bigger idiot for believing it!

LLS


42 posted on 02/27/2012 3:56:26 PM PST by LibLieSlayer (Hey repubic elite scumbags... jam mitt up your collective arses!)
[ Post Reply | Private Reply | To 9 | View Replies]

To: NFHale
I’ve been making fun of the donkey-eared feckless marxist douchebag since Day One...to anyone and everyone

uncle bambam a douchebag ??? are you implying that hes not queer and would get that close to ...*it* ???

43 posted on 02/27/2012 4:11:53 PM PST by Gilbo_3 (Gov is not reason; not eloquent; its force.Like fire,a dangerous servant & master. George Washington)
[ Post Reply | Private Reply | To 38 | View Replies]

To: DoughtyOne

“...Couldn’t you have included Islamic adherent there anywhere? ;^)...”

I can add in anything you want, brother...’cause if da shoe fits...ya know the rest...


44 posted on 02/28/2012 8:59:34 PM PST by NFHale (The Second Amendment - By Any Means Necessary.)
[ Post Reply | Private Reply | To 40 | View Replies]

To: Gilbo_3

Now, now...are you calling “her” an “it?”


45 posted on 02/28/2012 9:02:07 PM PST by NFHale (The Second Amendment - By Any Means Necessary.)
[ Post Reply | Private Reply | To 43 | View Replies]

To: NFHale

If the shoe don’t fit, you must acquit... er something like that.


46 posted on 02/29/2012 12:34:41 AM PST by DoughtyOne (Abortion? No. Gov't heath care? No. Gore on warming? No. McCain on immigration? No.)
[ Post Reply | Private Reply | To 44 | View Replies]

To: NFHale
Now, now...are you calling “her” an “it?”

intentionally vague in the sense that im not even sure *it* is a 'her'...

and in homoland, chick parts would definately rate an 'it' due to their ickiness in general...heheheh...

47 posted on 02/29/2012 6:58:34 AM PST by Gilbo_3 (Gov is not reason; not eloquent; its force.Like fire,a dangerous servant & master. George Washington)
[ Post Reply | Private Reply | To 45 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson