Oil Declines.. Again! $107
09-03-2008 | 06:33 AM
#2
Kept down by the man
Joined: Dec 2007
Posts: 657
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From: 767 CA
This is nothing new... The only reason in the last few weeks that oil has gone up was because of hurricane Gustave, and the risk of damage to the platforms in the gulf... That being said, analysts have stated they wouldnt be surprised if it dips below $100/barrel this week (dont know if I believe this one)... It would just be nice to see a little relief at the pump since oil has dropped nearly $45/barrel in the last few months... Funny how the price of gas has only dropped like 40 cents/gallon... Sad
09-03-2008 | 06:47 AM
#4
Gets Weekends Off
Joined: Mar 2006
Posts: 330
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watch the oil forecasts in the morning on the financial channels and it doesnt make you too comfortable some of the things they say.
Only takes a few problems to jack the price way up.
Who wants to go hang out with Pickens?
Only takes a few problems to jack the price way up.
Who wants to go hang out with Pickens?
09-03-2008 | 06:49 AM
#5
Gets Weekends Off
Joined: Dec 2007
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Plus OPEC doesn't want it below 100...
'OPEC may cut output as oil prices set to fall further'- International Business-News-The Economic Times
'OPEC may cut output as oil prices set to fall further'- International Business-News-The Economic Times
09-03-2008 | 06:50 AM
#6
Kept down by the man
Joined: Dec 2007
Posts: 657
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From: 767 CA
Well if this doesnt tell you that oil companies arent gouging us a little bit, you get 42 gallons of gasoline from one barrel of oil. At $107/barrel that would translate to $2.54/gallon. The national average is more than a dollar/gallon more!! And supposedly it only costs them $14/barrel to produce. I think I just threw up a little in my mouth thinking about that....
09-03-2008 | 06:52 AM
#7
First Rule of Fight Club
Joined: Jan 2007
Posts: 1,536
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From: My seat smells like cat pee
Well September 9th Opec is meeting and Iran has said that oil around $100 per barrel is unacceptable. So I will bet anything on the 9th they will cut production and swing the price extremely high again.
09-03-2008 | 07:08 AM
#9
Gets Weekends Off
Joined: Dec 2007
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From: CRJ Seat 13D
While I don't enjoy paying 3.75/gal for gasoline, how would you feel if YOU had a product that everyone needed/depended on?
OPEC can do what they may and the consumer will continue to pay (unintentional rhyme). The biggest problem for OPEC is that they have p'ed off a significant amount of people who are now very motivated to explore alternative options for oil. We are closer to realizing the result of this than many of you might think. One of two things is going to happen--oil will run out or society will no longer have a big need for oil. Let's hope one happens in our lifetime.
P.S. Did anyone read a few weeks back that the U.S. is exporting grain to Iran? Our chance to gouge them back!
OPEC can do what they may and the consumer will continue to pay (unintentional rhyme). The biggest problem for OPEC is that they have p'ed off a significant amount of people who are now very motivated to explore alternative options for oil. We are closer to realizing the result of this than many of you might think. One of two things is going to happen--oil will run out or society will no longer have a big need for oil. Let's hope one happens in our lifetime.
P.S. Did anyone read a few weeks back that the U.S. is exporting grain to Iran? Our chance to gouge them back!
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