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$70 a barrel?
Pioneer Press ^ | Sunday, June. 26th, 2005 | Tim Huber

Posted on 06/26/2005 2:38:47 PM PDT by M. Espinola

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To: Paladin2

indeed, you don't do enough city driving it would appear to make the Prius worth it for you - you won't be using the battery that much. you will do just as well with an efficient 4 cyl, perhaps a TDI.


81 posted on 06/26/2005 6:07:58 PM PDT by oceanview
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To: atlanta67

"I control my destiny, no some silly group of rich bankers"

Well, I'll have to say, that if more people felt that way we wouldn't have near the trouble in the world that we do especially with the arrogant dipsh*ts in government.


82 posted on 06/26/2005 6:08:52 PM PDT by dljordan
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To: M. Espinola
Reality Check:

As a percentage of the economy, total spending on petroleum today is less than half of what it was 30 years ago.

83 posted on 06/26/2005 6:19:21 PM PDT by cookcounty (Army Vet, Army Dad.)
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To: jec41

Well met, jec41. I see we have similar views on oil.


84 posted on 06/26/2005 6:23:03 PM PDT by neutrino (Globalization “is the economic treason that dare not speak its name.” (173))
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To: Walkin Man
Higher fuel prices will hurt walmart less than their competitors. They have the best distribution system in the country. Higher fuel prices will force more people to shop walmart's lower prices plus they usually have the lowest gas prices in town.
85 posted on 06/26/2005 6:26:33 PM PDT by kempo
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To: Perdogg
Oil is way overvalued at $55.00/brl.

Everyone has an opinion. You can register yours in the oil futures market.

The fed is going to raise interest rates this week 25 basis points, this should put some downward pressure on the price.

Please explain how the rising cost of money will cause falling oil prices.

My guess by the end of July oil should be around $48.50 to $49.99/brl.

July futures contracts are open for trading.

86 posted on 06/26/2005 6:26:57 PM PDT by Protagoras (Now that the frog is fully cooked, how would you like it served?)
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To: neutrino
neutrino writes:
Peak Oil is coming. And the consequences of that are hardly even considered - though the article does a good job.
I suggest that people brace themselves, because, in my opinion, matters are going to get challenging.

I forsee $100+ per barrel of oil in the not-too-distant future.

I forsee gas at $10 or more per gallon within a decade, certainly not much further beyond that.

I forsee the yearly cost of heating an average sized home in the colder states to zoom to $10,000-15,000 or more in that time as well (probably including my own).

I may not live to see it, but the younger readers of this forum might witness the "end of the petroleum era"... or at least the beginnings of that end.

The airlines can deal with the threat of terrorism. What they won't be able to escape is the cost of filling the hungry tanks of their planes at $10 a gallon. Could we see, in not too many years, the near-total economic crash of commercial aviation?

Fuel could someday become so expensive that it will become economically impossible to commute by car over longer distances for persons of normal means. What will happen to the outlying bedroom communities then?

The trucking industry, running close to the bone _now_, would wither and die.

The railroads, however, might rise again. Without diesel fuel, you can run trains on electricity, or even go back to coal-fired steam locomotives for lack of anything else.

Interesting times ahead....

Just musing....
- John

87 posted on 06/26/2005 6:28:17 PM PDT by Fishrrman
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To: Bear_Slayer
but if oil is finite, and it is. Why shouldn't I just start buying futures on barrels. The price should only be going up. I can only get rich.

That statement proves the next one to be true.

I know nothing of futures and very little of investing,

88 posted on 06/26/2005 6:30:38 PM PDT by Protagoras (Now that the frog is fully cooked, how would you like it served?)
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To: cookcounty

that stat means nothing, because the economic spending patterns have shifted to accomodate for that. do you want everyone to just hunker down and spend all their disposable income on energy? that will wipe out the parts of the economy that rely on disposable income being spent on other things, especially discretionary services, retail spending, leisure, etc. that's the bulk of the US economy now.


89 posted on 06/26/2005 6:31:35 PM PDT by oceanview
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To: rwfromkansas

Plastics, fertilizers, chemicals are oil based...a barrel of oil makes more products than just gasoline...


90 posted on 06/26/2005 6:32:01 PM PDT by antivenom (If your not living on the edge, you're taking up too much damn space!!!)
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To: M. Espinola
Just think what it would be if we didn't have all that plundered Iraqi oil! (/sarcasm)
91 posted on 06/26/2005 6:32:36 PM PDT by iconoclast (Mandatory intelligence test for FReepers!)
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To: oceanview
unless the administration opens the SPR to pop the speculative bubble, wall street will continue to talk it up. the financial markets are using oil as the new "tech stocks".

Any attempt to manipulate the price of a commodity is futile.

92 posted on 06/26/2005 6:33:03 PM PDT by Protagoras (Now that the frog is fully cooked, how would you like it served?)
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To: IronMan04
However if the Chinese economy collapses they may want to turn in all the US Paper they now Hold and the US would have to Default.

Turn it in for what? How would a "default" on the US dollar work?

93 posted on 06/26/2005 6:34:52 PM PDT by Protagoras (Now that the frog is fully cooked, how would you like it served?)
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To: Protagoras

that is true only when the players in the market space are actually buyers who want to take the delivery of the product for consumption, and sellers who have supplies they want to sell.

breaking a speculative bubble is a different story.


94 posted on 06/26/2005 6:35:10 PM PDT by oceanview
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To: sgtbono2002
Money spent for fuel is money taken out of the economy.

It is the same as any other purchase, it is back into the economy, not out.

95 posted on 06/26/2005 6:37:16 PM PDT by Protagoras (Now that the frog is fully cooked, how would you like it served?)
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To: Protagoras

Since oil contracts are settled in dollars, the more valuable the dollar the greater the purchasing power.


96 posted on 06/26/2005 6:38:23 PM PDT by Perdogg (Perdogg V Tyson, 12/31/05 at the Bellagio, Las Vegas)
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To: oceanview

Democrats like the idea of government intervention in private business.


97 posted on 06/26/2005 6:39:49 PM PDT by Protagoras (Now that the frog is fully cooked, how would you like it served?)
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To: Protagoras

http://www.nationalreview.com/kudlow/kudlow200503111239.asp


98 posted on 06/26/2005 6:40:13 PM PDT by Perdogg (Perdogg V Tyson, 12/31/05 at the Bellagio, Las Vegas)
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To: Fishrrman

Maybe F/x should make a teledrama out of that.


99 posted on 06/26/2005 6:40:57 PM PDT by Perdogg (Perdogg V Tyson, 12/31/05 at the Bellagio, Las Vegas)
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To: VOR78
Let the free market take care of the problem naturally.

DING, DING, DING, DING!!!!!!

WE HAVE A WINNER!!!

100 posted on 06/26/2005 6:41:46 PM PDT by Protagoras (Now that the frog is fully cooked, how would you like it served?)
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