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Crude futures prices tap $75 for first time ever in NY
CBS Marketwatch ^ | 4/21/2006

Posted on 04/21/2006 10:46:54 AM PDT by Rutles4Ever

click here to read article


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To: xzins

You got that right. Unfortunately, it's supported by the "bipartisan" Party of Gubmint in Wisconsin, and they have essentially all the power (the only arguable place they don't have complete control is in the Assembly Pubbie caucus, and even that has been sliding toward their way of doing things).


61 posted on 04/21/2006 11:23:06 AM PDT by steveegg (Sen. Ted "Swimmer" Kennedy's vehicles have killed more people than V.P. Dick Cheney's guns)
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To: Rutles4Ever
"Discuss."

Disgust!

62 posted on 04/21/2006 11:24:32 AM PDT by verity (The MSM is comprised of useless eaters)
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To: Rutles4Ever

Just adjusted my work schedule to work 4x per week, which is a good thing as I need Fridays to work around the yard, etc. But I'll still save ~20% on fuel costs, which does not hurt either...


63 posted on 04/21/2006 11:24:40 AM PDT by Fury
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To: Fishrrman

Under that scenario, prepare for $6-$7/gallon gas by the 2008 elections.


64 posted on 04/21/2006 11:24:55 AM PDT by steveegg (Sen. Ted "Swimmer" Kennedy's vehicles have killed more people than V.P. Dick Cheney's guns)
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To: Lucky9teen

What the heck do they need to market for?

65 posted on 04/21/2006 11:25:09 AM PDT by raybbr
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To: chris1
Point 1 and 2 of your solution is above is talk talk and talk... Point 3 is another talk and it does not have immediate effect.

My solutions:

Put a temporary halt on Federal and State taxes around 50 to 60 cents will be cut from the price of a gallon of gasoline.

Release oil from the strategic reserve at rate of 0.5 Million to 1 million barrel a day. This will drop the oil price world wide by 15 to 20 dollars.

66 posted on 04/21/2006 11:25:53 AM PDT by jveritas (Hate can never win elections.)
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To: Jeff Chandler

Not necessarily - if they have long-term contracts for their production, they're probably just now starting to get the better prices. What happens long-term from here on out is anybody's guess. If they're having to "buy" for marketing purposes, this may not be all good news.


67 posted on 04/21/2006 11:26:19 AM PDT by Rte66
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To: raybbr
Refining costs and profits, my a$$....

What, they want even MORE profits?
68 posted on 04/21/2006 11:27:02 AM PDT by Lucky9teen (Gov't solution to invasion=band aid. What we need is to fix the leak, before we clean up the mess.)
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To: Cage Rattler

Yes. So's $4 and $5.


69 posted on 04/21/2006 11:28:54 AM PDT by Rte66
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To: steveegg

70 posted on 04/21/2006 11:29:39 AM PDT by Lucky9teen (Gov't solution to invasion=band aid. What we need is to fix the leak, before we clean up the mess.)
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To: steveegg; raybbr

We may never be able to tap into the Methane Hydrate reserves. China, however, is not constrained by obeying any international treaty, regardless of whether they are a signatory or not. They have already been exploring the possibilities off the continental shelf in the South China Sea.

Which may relieve the pressures on the international petroleum supply. In the short term, it will provide some small respite, but inevitably, the leadership the US now enjoys will slip further, and China begins their long ascendency.


71 posted on 04/21/2006 11:29:57 AM PDT by alloysteel
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Comment #72 Removed by Moderator

To: ErnBatavia
And if we lived in Japan, we'd see prices like these...


Although, this was dated in 2004, but still...
73 posted on 04/21/2006 11:31:13 AM PDT by Lucky9teen (Gov't solution to invasion=band aid. What we need is to fix the leak, before we clean up the mess.)
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To: RasterMaster

"More market manipulation by Soros and his DUmocrat-commie buddies."

It is probably a safe bet that America's number one enemy and the DNC's major financial backer has been very busy manipulating the oil market prices via his hedge funds.



74 posted on 04/21/2006 11:31:20 AM PDT by Grampa Dave (There's a dwindling market for Marxist homosexual lunatic wet dreams posing as journalism)
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To: Rutles4Ever

China's new demand coupled with India's growing demand are the main reason for the rise in oil. The real question is who's economy can withstand these price increases? America, Europe, Japan, China, India, et.al. My bet is that America with the most diversified economy is in better shape to weather the sustained high oil costs compared with the rest of the world. China and India are especially sensitive to oil costs due to their export manufacturing economy. Europe really doesn't matter since neither their economy or demand for oil has changed much. My call is this is really a Mexican stand off between the major economies. My bet is that China and India's economies will blink before us, causing a fall in demand and price.


75 posted on 04/21/2006 11:31:27 AM PDT by tigtog
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To: alloysteel

Why am I not surprised that Red China is taking the lead?


76 posted on 04/21/2006 11:31:51 AM PDT by steveegg (Sen. Ted "Swimmer" Kennedy's vehicles have killed more people than V.P. Dick Cheney's guns)
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To: All
Ben "Helicopter Commander" Bernanke tells us inflation is low. (especially when you factor out energy,housing and food)

On March 23, 2006, the Board of Governors of the Federal Reserve System ceased publication of the M3 monetary aggregate.

77 posted on 04/21/2006 11:32:45 AM PDT by AdamSelene235 (Truth has become so rare and precious she is always attended to by a bodyguard of lies.)
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To: Jeff Chandler

Well great! By the time they inherit it, they inheritance should cover about a barrel of oil!


78 posted on 04/21/2006 11:33:10 AM PDT by HHKrepublican_2 (www.Rogers2006.com)
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To: Jeff Chandler

But *we're* the ones who developed the majority of all the producing wells in the world ... something happened somewhere along the way where we lost control of the end results.


79 posted on 04/21/2006 11:33:16 AM PDT by Rte66
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To: raybbr

marketing is gas station expenses - leases, labor, etc.


80 posted on 04/21/2006 11:36:33 AM PDT by soccer_maniac (Do some good while browsing FR --> Join our Folding@Home Team# 36120: keyword: folding@home)
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