Oil steadies near $59

Boston.com ^ | July 25, 2005 | Reuters

[Jomini]

Oil prices steadied just below $59 a barrel on Monday as dealers anticipated that recent storms in the Gulf of Mexico's oil producing region would cut into robust U.S. commercial stockpiles.

U.S. crude traded up 20 cents to $58.85 a barrel, after falling as low as $57.65 earlier in the day, while London Brent crude rose 11 cents to $57.69 a barrel.

[KevinDavis]

How about minding your own frickin business.. I plan on getting an suv. I have no reason to get one, but I want one.

[biblewonk]

Go away and mind your own fricking business and who cares about your suv.

[AmericanVictory]

It is only limited because the breakthrough and disruptive technology that would alleviate the problem has been obstructed since 1981.

[KevinDavis]

Ok...

[ContemptofCourt]

Since mid-April, COP has increased 18% (and split), and CVX 5.6%, not including dividends.

I may pay at the pump, but I'll recover it on the backside.....

[Smokin' Joe]

In 1999, when everyone was ecstatic over cheap oil, my finances were being drained. $20.00 per barrel would have kept the American oil drilling industry going. Nope. Oil hit $6,50/barrel around here, and everyone (else) was happy as the drilling rigs here simply shut down.

Now, we are making money again, and I'm paying off the debts incurred while feeding two kids working in a temporary job (because no one wants to hire someone who is going back to the oil patch as soon as the price picks back up).

Am I broken hearted? nope. We don't drive new vehicles, and don't live lavishly. But if things hold, I just might be able to retire someday before I die.

Sorry, but I am not entirely sympathetic with the whining masses on this one.

[mysterio]

The "whining masses" are the ones whose discretionary income is being pilfered. And they won't be spending that money in the economy. That is going to cause a recession sometime in 2006. That recession is going to give dems an issue. If oil prices stay where they are, you guys are almost sure to lose the White House in 2008. Now do you care?

[Smokin' Joe]

Just what is any politician going to do to lower oil prices? Put a cap on them and you have capped my wages when I should be making money. Then I say f***it! and give up the priveledge of working 20/7 on wellsite until the well is done and go home.

It was the democrats and their buddies who got us into this mess, anyway.

As for discretionary income, I do not live in a $400,000 house, (that is by and large, discretionary), I do not drive new vehicles (also discretionary), and I save credit for when I need it, instead of keeping up with the Jones' and making minimum payments. If people are on the ropes, maybe they should mamage their money better.

After all the cries of "NO BLOOD FOR OIL", it is funny that the 'blood' the liberals want is that of those of us who bust our butt to bring in oil wells.

Or maybe they can buy Chinese oil at Walmart.