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Oil Prices Fall Below $69 a Barrel
AP, Yahoo Finance ^
| Wednesday May 17
| Brad Foss
Posted on 05/17/2006 12:31:46 PM PDT by saganite
click here to read article
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Good news
1
posted on
05/17/2006 12:31:50 PM PDT
by
saganite
To: saganite
Hey!!! 69 is my lucky number! Whaddayknow?
2
posted on
05/17/2006 12:33:02 PM PDT
by
Lekker 1
(("Stocks have reached what looks like a permanently high plateau" - I. Fisher, Yale Econ Prof, 1929))
To: saganite
Car pooling? Bicycling? Running? YEP - doing all 3!!!
To: saganite
4
posted on
05/17/2006 12:33:35 PM PDT
by
2banana
(My common ground with terrorists - They want to die for Islam, and we want to kill them.)
To: saganite
Looks like a buying opportunity.
5
posted on
05/17/2006 12:36:45 PM PDT
by
Brilliant
To: saganite
About time to hear from the Iran A-hole
6
posted on
05/17/2006 12:37:34 PM PDT
by
digger48
To: digger48
There's a quote from him at the end of this article. It's a repeat of what he said about the EU reactor gift so nothing new from him there. He also started accepting only Euros in exchange for his oil. We'll see how that works out for him.
7
posted on
05/17/2006 12:42:32 PM PDT
by
saganite
(Billions and billions and billions-------and that's just the NASA budget!)
To: digger48
"About time to hear from the Iran A-hole" BINGO! Anyone else notice the price of gas creeping slowly upward as we approach Memorial Day weekend? Same trick, different year. <<> This year we had a neat twist to the whole price escalation routine. While we wondered if Dick Cheney's hunting accident was really an 'accident', gas prices rose. While we scrutinized NSA wiretaps, gas prices rose. While we fretted about Dubai Ports, gas prices rose. While we pondered illegal immigration, gas prices rose. While Iran gave the world the nuclear middle finger, gas prices rose. The distractions have been monumental, while gas prices rose.
8
posted on
05/17/2006 12:46:00 PM PDT
by
RedRightReturn
(Even a broken clock is right twice a day...)
To: saganite
Wish the price would drop below $30.
To: lilylangtree
You won't ever see that and in fact it would be bad news. New sources of oil like tar sands and shale oil need prices above the $50 range to be profitable. The sooner we can exploit those to their fullest potential the sooner we can cut some ties to the middle east.
10
posted on
05/17/2006 1:02:10 PM PDT
by
saganite
(Billions and billions and billions-------and that's just the NASA budget!)
To: saganite
Yea, really great news. It went up about 6 cents a gallon around here yesteday afternoon and this morning as I drove by the local rip off stations. Averages about $3.15 here for regular unleaded.
11
posted on
05/17/2006 1:03:41 PM PDT
by
RetiredArmy
(I've pretty much given up on all politicians. They all lie, cheat, and ignore the voters.)
To: RetiredArmy
$2.68 here and headed down.
12
posted on
05/17/2006 1:06:37 PM PDT
by
saganite
(Billions and billions and billions-------and that's just the NASA budget!)
To: saganite
So where are all the gold bugs?
To: saganite
"Perhaps the higher prices are having an effect on demand," said BNP Paribas Commodity Futures broker Tom Bentz."
"The Energy Department said gasoline demand over the past four weeks was 9.2 million barrels per day, or about even with the same period last year."
Perhaps their not..
14
posted on
05/17/2006 1:50:29 PM PDT
by
dwntmpo
(Talking to a republican about peak oil, is like talking to a democrat about islamic terrorism.)
To: saganite
"You won't ever see that and in fact it would be bad news. New sources of oil like tar sands and shale oil need prices above the $50 range to be profitable. The sooner we can exploit those to their fullest potential the sooner we can cut some ties to the middle east."
I agree. While I hate the price at the pump, I hate it more that our enemies are using oil revenues to spread "kill the infidel' mosques and building weapons to kill us.
To: saganite
We continue to go up almost every other day here in western Washington, Bremerton area of Kitsap county.
16
posted on
05/17/2006 2:30:26 PM PDT
by
RetiredArmy
(I've pretty much given up on all politicians. They all lie, cheat, and ignore the voters.)
To: saganite
Oil prices are down. Oil inventories are up. Refinery production is up. Gas inventories are up.
So, with all that in mind, I expect the price of gas to go up another dime. Memorial Day weekend, you know, despite the fact that a lot of folks will just stay home because of the price of gas.
17
posted on
05/17/2006 2:32:59 PM PDT
by
dirtboy
(An illegal immigrant says my tagline used to be part of Mexico)
To: saganite
New sources of oil like tar sands and shale oil need prices above the $50 range to be profitable. I basically hijacked another thread disputing that so I might as well dispute it here too. The cost of oil sand, oil shale, coal based gas, etc, are all based on abundant and subsidized (in many cases free) energy. Just like paying farmers to waste energy planting, fertilizing and harvesting corn, these schemes are basically just ways for people to make money from the government. They don't all waste energy as transparantly as ethanol, but they all have subsidies needed for profitability. A basic rule of thumb for an energy source is it should use its own energy to produce itself in at most 1:2 ratio. That allows for other energy inputs like the workers and machines and still leaves some room for profit.
The bottom line, some energy sources are not profitable even at infinity per barrel, and most are double the current crude price (i.e. $140/barrel today).
18
posted on
05/17/2006 2:43:10 PM PDT
by
palmer
(Money problems do not come from a lack of money, but from living an excessive, unrealistic lifestyle)
To: palmer
Everything I've read says tar sands are profitable above $30 a barrel and the greatest problem there is recovering the huge sunken costs of setting up the recovery and refining process. Since oil shale isn't even to the production phase yet there's only speculation as to it's cost but I've read it would be profitable to extract it at a price above $35 a barrel.
I'm not aware of subsidies for these in the category of subsidies for ethanol but would be interested in your info in that regard.
19
posted on
05/17/2006 2:48:20 PM PDT
by
saganite
(Billions and billions and billions-------and that's just the NASA budget!)
To: saganite
20
posted on
05/17/2006 3:32:57 PM PDT
by
palmer
(Money problems do not come from a lack of money, but from living an excessive, unrealistic lifestyle)
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