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Oil Falls to 19-Month Low on Saudi Rejection of More OPEC Cuts (almost in the $40/barrel range)
Bloomberg | January 16th, 2007 | Mark Shenk

Posted on 01/16/2007 1:09:18 PM PST by 2banana

click here to read article


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To: 2banana

Hopefully good news for all.


41 posted on 01/16/2007 1:33:11 PM PST by Salvation (†With God all things are possible.†)
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To: Lucky9teen

In GA we are at $1.99 already.


42 posted on 01/16/2007 1:33:17 PM PST by eyespysomething
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To: 2banana

43 posted on 01/16/2007 1:33:55 PM PST by Gritty (If you win the Presidency, you could be in a position to save the planet! - Matt Lauer to Al Gore)
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To: Mr. K

"why do price reductions always take months to show up at the pump, but increases in oil barrel prices send GAS (already refined, and at the pump) up immediately?"

Retail price is generally on a fairly fixed margin over wholesale.

With this in mind:

Because if there is going to be a supply crimp increase (e.g., a war or hurricane) people all rush out and fill up their tanks w/ cheap gas. Thus, the "cheap" retail gas is rapidly replaced with more expensive wholesale gas.

If prices are falling, people drive until empty, as it's cheaper later. Thus, the expensive retail gas is slowly replaced with cheaper wholesale gas.

Basic consumer dynamics.


44 posted on 01/16/2007 1:34:10 PM PST by MeanWestTexan (Kol Hakavod Lezahal)
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To: RightWhale

they are? how do you figure that. exxon is investing in plug in hybrid cars? coal to diesel? bio-fuels? cellulitic ethanol?


45 posted on 01/16/2007 1:34:11 PM PST by oceanview
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To: Lucky9teen

It's a $1.89 in Henderson KY and the last I saw, $1.99 in Evansville


46 posted on 01/16/2007 1:36:47 PM PST by southernindymom
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To: rottndog

under your 'logic' prices would never go down

1) is false becuas ethey are SELLING gas they paid less for.

2) if 2) is right then it should apply to 1)


47 posted on 01/16/2007 1:37:08 PM PST by Mr. K (Some days even my lucky rocketship underpants don't help...)
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To: John Jorsett
I bet they're even more pissed about what this will do to the alternative fuel market.

A lot of liberals were pushing ethanol and other alternative fuels hard and some likely even invested their own personal money.

You think they're driving up oil prices and trying to justify taxing oil companies to drive them up even higher for nothing?

48 posted on 01/16/2007 1:37:13 PM PST by untrained skeptic
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To: Lucky9teen
So why are we still seeing gas at $2.35 or more a gallon?

1.95 here in North Saint Louis County..

49 posted on 01/16/2007 1:37:46 PM PST by cardinal4
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To: AntiKev

Ok. And the price shoots up immediately when the barrel price increases. Is there a little blue pill theory associated with the rapid rise and the protracted decline?

This is hard for me to understand.


50 posted on 01/16/2007 1:38:09 PM PST by gathersnomoss
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To: oceanview

Yes, indeed. Where do those obscene profits go, the windfall that Sen Kennedy wants to tax away? Oil shale, tar sands, GMs electric car, solar, wind. Check it out. They are energy companies, not oil. Oil, nat gas, nuclear, solar, on and on long after all the oil is gone. Ever see that old movie Network?


51 posted on 01/16/2007 1:39:40 PM PST by RightWhale
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To: Mr. K
Read #44 above.

It's a better explanation of the same idea.

And it's very true.
52 posted on 01/16/2007 1:40:38 PM PST by rottndog (While reading this tag, remember Tens of Thousands of Americans are risking their lives for you.)
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To: Mr. K
why do price reductions always take months to show up at the pump, but increases in oil barrel prices send GAS (already refined, and at the pump) up immediately?

First off it doesn't take months for gas to go down. It actually takes about 3 days. Sometimes less.

That is because prices go up and down not only on the original cost but also on the replacement cost.

53 posted on 01/16/2007 1:42:06 PM PST by Harmless Teddy Bear (We must have faith For when it is all said and done, Faith manages. And the impossible is achieved)
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To: eeriegeno
And the feds ought to be looking into it....

They have, and there was nothing to find.

This thread reads like a Chucky Schumer fan club.

54 posted on 01/16/2007 1:44:08 PM PST by Petronski (Who am I and why am I here?)
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Caller not very smart....

Cindy Sheehag gets her face plastered all OVER the media...


55 posted on 01/16/2007 1:44:56 PM PST by rottndog (While reading this tag, remember Tens of Thousands of Americans are risking their lives for you.)
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To: All

Woops.....Wrong thread!

Sorry folks.


56 posted on 01/16/2007 1:45:36 PM PST by rottndog (While reading this tag, remember Tens of Thousands of Americans are risking their lives for you.)
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To: RightWhale

we've been hearing that for decades, that oil company profits were being plowed into alternative sources. where are they? they invest in new exploration and development of oil to be sure, but not too much in alternatives.


57 posted on 01/16/2007 1:45:58 PM PST by oceanview
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To: AntiKev
Because that gas was refined with $70/bbl oil. We won't feel this for a month or more

Gas is selling in the range of $1.80 to $1.89 per gallon in the Detroit area right now.

58 posted on 01/16/2007 1:47:32 PM PST by CharacterCounts (-)
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To: 2banana

Saw gas at $1.96 where I live.


59 posted on 01/16/2007 1:47:35 PM PST by rintense (Just say no to McCain in 2008!)
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To: oceanview
Exxon and Chevron are the largest contributers to hydro tech vehicles, electric hybrids, ethanol and bio fuels.

You might drop your conspiracy hat for a while. It doesn't apply here or elsewhere for that matter.
60 posted on 01/16/2007 1:48:24 PM PST by PSYCHO-FREEP (Show me a 'true' Conservative and I'll show someone with bad knees)
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