Posted on 06/25/2012 12:56:51 AM PDT by Uncle Slayton
The increase in demand for oil from emerging countries is not enough to counteract the fall in demand from established economies, Alejandro Barbajosa, oil markets specialist at Argus Media told CNBC.
Oil prices are decisively lower than three months ago and Brent Crude [LCOCV1 90.39 -0.59 (-0.65%) ] fell to below $90 per barrel last Thursday, its lowest level in eighteen months.
(Excerpt) Read more at cnbc.com ...
If the price of oil continues to crash, the very little drilling in the US that remains will be shut down and our oil companies and oilfield workers will suffer.
BS... the factories I work with here in the US are so busy they can’t keep up with demand. Businesses are starting to spend money... they want the product and they want it now. Methinks it’s because they know Obama is toast.
There are factories in the US that are busy?
Not in this economy.
If demand for oil was high, the prices would not fall.
Oil prices are plummeting, just like the economy.
My vendors cannot keep up with orders. I have one vendor that takes five days just to enter an order and bill the customer. The main problem is no one is carrying inventory to fill the needs of business. Everything is being made to order. No, we are actually coming out of this morass and I look to 2013 to really boom.... especially so with Dems out of power.
The oil market was another bubble that popped. Supply exceeds demand and the price drops.
The Marxist knows he had no chance of winning with $4.00 a gallon gas.
Any enterprise that makes business decisions based on an assumption 0bama is headed for defeat is led by fools. The election is wayyy too far off... and the gnat-like attention spans of voters won`t let them understand the structural weaknesses in the economy that have laid the groundwork for the price drop... i.e., relative strength in the dollar, vs. other global currencies; dropoffs in manufacturing and durable goods orders, etc. All they`re going to see are gas prices (by then very likely) below $3, and 0bama is going to benefit politically.
the price will continue to drop until Nov 6 .. people need to get a clue
I think with all the books being obviously cooked and in contrast to what people are observing with their lying eyes, they have gotten the clue, and I expect a wipe out in November.
It would be nice to see the price of food drop.
Have you bought a box filled with air and a couple of corn flakes lately?
My weekly grocery bill, for one (self & cat) has gone up ~120%, over just the past 11mos. I’m still continuing to ‘prep’, but have slowed-down just a wee bit to compensate/balance-out.
I suspect these declining prices can be tied to the strengthening of the U.S. dollar in recent months as Europe is facing a disastrous collapse.
I recall Zer0 threatening to tap the SOR. Did he do it?
The little store up the road is getting $5.00 for a 12 ounce package of bacon. $3.75 for pack of Potato rolls.
The bread is so flimsy it rolls up on the knife before you can spread the peanut butter on it, that’s why I buy the rolls.
Around here, it’s up to $7.85/lb from $4.89/lb, for bacon. I bought 5 x 12-lb boxes back at $4.89/lb, and froze them in my 26cuft freezer, along with a lot of other things which have also gone way up in the past few mos. The 10oz USDA Choice Filet Mignons from AllenBros.com are thru the roof now, as is everything which moves by truck/plane/rail. I haven’t gone cheap (yet); just cut back, so far.
Coming very soon:
The volatility of the Middle East just went up another notch or two when the new leader of Egypt announced the capital will eventually be Jerusalem. Looks like deja vu all over gain.
I believe the Saudis have owned our presidents since the first Bush. Someone is sponsoring all the muslims moving here and buying franchises that most Americans can’t afford. And us buying their oil instead of drilling for our own is how they pay for it. Saying you want to drill and not drilling brings zero barrels of oil out of the ground.
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