Crude Oil Rises on Excessive Drop, Supply Threat in Caspian Sea

bloomberg.com | 8/11/2008 | Nesa Subrahmaniyan

[kellynla]

Cannot post. Here is the link:http://www.bloomberg.com/apps/news?pid=20601087&sid=aoFU6Vth3Ymc&refer=home

[trumandogz]

USD/EURO outcome would be good. Just keep in mind, PUTIN and or any other terrorist does not need to keep oil futures rising, all they need is jolts of rises, that brings in millions and millions of dollars extra in very short periods of time.

Congratulations! You win the Gold Star Economics and International Relations.

Yes, the Devaluation of the Dollar has a great impact on the price of oil and yes Mr. Putin wants higher oil prices as he drags Russia back into the age of the Cold War.

Great Post.

[Salvation]

Get your gas this week before the prices go back up!

[kellynla]

Better do it tonight!

[Salvation]

Do it on Monday. They raise prices on Tuesdays and Fridays.

Or they lower them.......................wishful thinking.

[Fred]

kewl

[trumandogz]

One factor of the current “oil crises” that is largely ignored by DC, the MSM and even FR is the impact of the dollar devaluation on the price of oil. I am not sure if it is an issue that is ignored because people do not want to face reality of devaluation or because so few people have a basic understanding of economics. However, if the dollar were brought in to parity with the euro we would be be paying $75-$80 dollars a barrel without increasing production.

As for Putin, he needs the cash and the best way to keep that SOB from cranking up the Russian War Machine is to crash the price of oil.

[GregoryFul]

That is a silly idea - should everyone follow this advice and top off, gas prices will go up.

[TheThinker]

Russia's playing right into the Republicans’ hands. Democrats will only appease Russia. The longer oil stays up, more and more Americans will realize that we have to drill NOW and elect Republicans to get that done.

I feel bad for the Georgians but I think Puty has made a colossal error. Our economy will rebound quickly if Congress decides to lift the moratorium on drilling and Russia's expansionist actions will unnerve Europe and drive them closer to the U.S.

[Cobra64]

Domestic drilling is becoming a national security issue. We win on this issue whether prices go up or down. And the gang of 10 needs to sit down and shut their lying traps. Those in the House fighting for “The People” are running rings around the gang of 10 posers.

McCain needs to tie this into the economy first and foremost. But if prices shoot up because of this situation, he needs to remind Americans how volatile the situation is. And continue to call for domestic drilling. It's the right thing to do for our children's - children.

You're absolutely right. This Georgia/Rusky thing further amplifies our need to drill for oil, mine more coal, develop oil shale depositis, build refineries, coal, and nuke plants.... now.

[TigersEye]

Thank a Democrat for making us weak in the world.

What is the cost of the Democrat "No Domestic Energy Policy?"

• No domestic drilling.
• No new refineries.
• No new nuke plants.
• No new dams for hydro-electric.
• No coal.
• No shale.
• Deplete the SPR.
• Let Iran get nukes.
• Let Iraq fall to Iranian domination.
• No Canadian tar sands oil.

All of that puts the U.S. in a position that war for oil or
complete economic collapse will be our only choices.
You can't frustrate every source of domestic energy
without consequences. Our enemies will blackmail us
to the extent that we are vulnerable to blackmail.

The Democrats are leading us into a real war for oil.
A war we won't have the energy to fight.

[Fred]

Ok, help me out, I am seriously considering shorting the EURO at opening thru a very kewl etn DRR, I have been watching bloomberg most of the night and according to one UK analyst if the EURO does not come down in price the EU might very well breakup (another reason for the EU blowing off Georgia??? save for later)...I digress.....back to money....also heard that the Euro is going to be tanking vs the USD about 20-30%...would be very interested in anyones opine on this...

[Fred]

Could be Georgia is doing us a big favor by kicking Putin in the stones.

[sergeantdave]

And obama sez: don’t forget to blew up your tires a few extra hundred pounds to squeeze out that extra one-tenth of a mile.

[TigersEye]

In a backhanded way, yes. I’m still undecided as to who kicked who first here.