Posted on 01/16/2007 1:09:18 PM PST by 2banana
Can't post but good news as Saudi Arabia's oil minister rejected calls for more production cuts...
http://www.bloomberg.com/apps/news?pid=20602099&sid=ap9i3C_FTkR4&refer=energy
LOL. And the price of tuna will fall as well, I'm sure!
I saw it at $2.05 here in Mobile this morning....
Stations in Northern Ohio are around $2. My nearest station is $1.99.
I saw it at $2.05 here in Mobile this morning....
Lets not go overboard here....its more like the $50/barrel range!
Another 15% decrease and it will be around $43.50....in the "$40 range". Thats probably a long ways off.
That dosen't stop them from raising it a day after the market closes higher.
Commodities speculation was the last driving force with prices. The decline has been due to a mild Winter, causing the speculative market to unload shares while they were still within their profit margin.You're forgetting the "The World's Going to Hell" premium that just imploded. They just couldn't sit around waiting for Armageddon any longer. Have to go find some other reason to worry.
But damn, Iraq just won't get any worse, neither will Nigeria, not enough hurricanes in the Gulf, and Russia keeps pumping despite all the games. Where are all the good disasters when you need 'em?
Well, don'tcha s'pose those two great big giant aircraft carriers tryin not to git stuck in the straits of hormuz has sumthin to do with the price deflatin like a lead balloon???
If anything, SW, their presence would probably tend to drive prices up, as a potential threat to oil supply from Iran.
Then that Grampa Dave spreads 'em all over various threads and I love it!!!
yes, but what is the cost of oil? $48 today, $75 in june. investing in this area requires a predicatable price.
I paid $1.97 to fill my tank today at a truck stop. I should have waited until after I ate. As I sat there, the price was changed to $1.96
I paid $1.97 to fill my tank today at a truck stop. I should have waited until after I ate. As I sat there, the price was changed to $1.96
OOOPS! DAIR IT IS!!!
That's cause yer too danged suspicious!!! (grin)
I would think that if they're there, everybody would be a whole lot less concerned about Iran stupidly tryin ta close the place down for a change. But that's why I pinged you, cause I just knew you'd know!!! (grin)
A humorous illustration is often more effective than just another rant.
When I feel the urge to rant, I rant. But when I think an idea can be said better by somebody else's work, I don't. Therefore, I post what a cartoonist has been so clever to already observe and illustrate. He usually "says" it better than I can anyway.
A picture is often worth a thousand words, particularly if done with humor. I can't draw, but I can post.
Iran's economy is totally dependent on oil exports. If they had to depend on rug exports alone, the economy would crash.
The US carriers are there only to threaten Iran and a war would halt oil exports. The oil markets think we're bluffing for the time being, I think.
I know it's sometimes a hard sell for those of you still paying high pump prices, but I have followed commodity pricing for longer than many of you have been alive. Unidirectional price elasticity most often occurs as a direct result of regulatory intervention, not due to a lack of it (read Milton Friedman's work on the subject for further guidance). In the present instance, your patience will be rewarded because OPEC doesn't have the clout it once did, refinery product stocks are abnormally high, and demand has dropped significantly.
Anyone have a clue about the "position" of SOROS in the current futures market?
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