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Analyst predicts plunge in gas prices
Seattle Times ^
| September 14, 2006
| Kevin G. Hall
Posted on 09/16/2006 5:56:55 PM PDT by Chi-townChief
WASHINGTON The recent sharp drop in the global price of crude oil could mark the start of a massive sell-off that returns gasoline prices to lows not seen since the late 1990s perhaps as low as $1.15 a gallon.
"All the hurricane flags are flying" in oil markets, said Philip Verleger, a noted energy consultant who was a lone voice several years ago in warning that oil prices would soar. Now, he says, they appear to be poised for a dramatic plunge.
Crude-oil prices have fallen about $14, or roughly 17 percent, from their July 14 peak of $78.40. After falling seven straight days, they rose slightly Wednesday in trading on the New York Mercantile Exchange, to $63.97, partly in reaction to a government report showing fuel inventories a bit lower than expected. But the overall price drop is expected to continue, and prices could fall much more in the weeks and months ahead.
(Excerpt) Read more at seattletimes.nwsource.com ...
TOPICS: Business/Economy; Culture/Society; Extended News; Government; News/Current Events; Politics/Elections; War on Terror
KEYWORDS: badnewsfordems; energy; gas; irefusetosearch; tohellwithchavez
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To: BamaGirl
BamaGirl said:
"One of the only benefits of a Democrat winning the presidency in 08 is that I wouldn't have to hear all these fake depressing gloom and doom news stories all the time..." But the downside, of course, is that you would be forced to live such doom and gloom stories without reading about them. Instead, you would be reading about the exciting prospects due from the next Democrat Five Year Plan.
201
posted on
09/17/2006 11:37:21 AM PDT
by
William Tell
(RKBA for California (rkba.members.sonic.net) - Volunteer by contacting Dave at rkba@sonic.net)
To: Petronski
Strictly storebrand oyster crackers from the bulk foods section.From WalMart!
202
posted on
09/17/2006 11:42:28 AM PDT
by
Toddsterpatriot
(Goldbugs, immune to logic and allergic to facts.)
To: William Tell
"Instead, you would be reading about the exciting prospects due from the next Democrat Five Year Plan."
LOL! Isn't that the truth! :)
203
posted on
09/17/2006 2:05:18 PM PDT
by
BamaGirl
(The Framers Rule!)
Comment #204 Removed by Moderator
To: Chi-townChief
Oh lordy lordy... the dems are in trouble.
Even in the ultra-liberal 'inside the beltway' local DC news is doing reports on low gas prices ("where you can get gas for under $2 a gallon, then showing $1.97 price banners") last night.
The local news is just crazy lib day in and day out... was shocked to see this last night, and even in the promos for the news they were running earlier in the night (during the skins game)
205
posted on
09/18/2006 7:24:39 AM PDT
by
FreedomNeocon
(Success is not final; Failure is not fatal; it is the courage to continue that counts -- Churchill)
To: Chi-townChief; All
Why has gas jumped 10 cents in some locations then over the weekend.
that is a SPIKE.
not a drop.
Granted, stations north of here dropped prices today to 2.18.
But, gasbuddy.com says the trend is UP now, not down.
206
posted on
09/18/2006 3:32:15 PM PDT
by
rwfromkansas
(http://xanga.com/rwfromkansas)
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