[central_va]

Just shows how manipulated oil prices really are.

[2ndDivisionVet]

$1.65/gallon for unleaded regular here.

[blam]

The Great American Oil Bust Is Only Just Beginning

The Pace At Which US Rig Counts Are Tumbling Is Unusually Intense

[Arthur McGowan]

What does anyone expect, with an illegal-alien, Saudi-funded Moslem Brotherhood operative posing as “President”?

[Paladin2]

Speculators can,t go against the trend in the short term. Too bad they can,t be made to take delivery.

[Durus]

I suppose we are supposed to be crying because the over inflated oil market that the Saudis have been desperately trying to keep propped up is collapsing. Boo hoo or whatever.

[Cowboy Bob]

My gut feeling is that the prices will go down around $40 and stay there for about 6 months...or just long enough to bankrupt some companies.

Because of the lower price of oil, some economies will begin to grow, and in doing so, help to soak up the surplus production. The price will rebound with the increase in demand.

The prices will be back up to where they were this past summer in about 12-18 months.

[WMarshal]

All the quisling politicians can think about now is how they can tax gas and harvest the windfall. These parasites have no conscience and no limit to their greed. What they need to do is fight the “product dumping” of the Saudis with an import tariff. This would protect America’s strategic interests by ensuring domestic supply, keeping Americans working and further push oil down to bankrupt thugoocracies like Russia and Venezuela.

[RayChuang88]

Crude oil is crashing because the oil speculators now realize three new factors:

1. Increased oil production in the USA.
2. The Chinese-Russian US$400 billion deal to import initially natural gas, then later develop petroleum resources in eastern Siberia.
3. Increasingly strict fuel economy standards that may level off and start a decline in gasoline (petrol) and diesel fuel consumption.

In short, OPEC members will be hurt big time.

[Enlightened1]

Crude Oil is now

$45.91

Down 2.45(5.07%) 2:49PM EST