As recession saps demand, a world awash in oil

Source cannot be posted | 03 March 2009

[Lorianne]

link in post below

[Lorianne]

http://www.google.com/hostednews/ap/article/ALeqM5gyxb0WSogj-xGt8gBGRDZ5WnCRrwD96MR1NO0

[Eye of Unk]

Let the sand rats drink oil!

Anything to make the Saudis uncomfortable, they have screwed America now its their turn to get screwed.

[Myrddin]

Obama is going to open access to the Strategic Petroleum Reserve to control "spiking" oil prices. What a buffoon. Demand and prices have crashed dimwit.

[KoRn]

As Hussein’s economy continues to decline, those supertankers parked offshore waiting for prices to increase are taking a huge gamble.

Of course it may not be so much of a gamble as it appears they are effectively controlling the prices by manipulating the supply.

[Syncro]

The price of a bbl of oil has been fluctuating between $35 and $45 for a few weeks now.

There is a glut now and like the article says, if they all decide to sell at once the price will tank fast.

It seems it would be smart for the oil owners to sell when it is around 45 and watch when it goes down again and buy to sell when it raises to 45 again.

I'm probably way off here, this article is interesting.

[Nathan Zachary]

There’s only so much they can sell. Tell me, who’s going to wait it out and who’s going to sneak in at night and unload as much as possible?

[Plumberman27]

I agree let the towel heads sink. But has anyone taken note that since president Hussein took over gas has risen by about 40 cents a gallon? And the idiots in DC want to add another dime taxes to the price for road construction. Talk about how to drive an economy to the pits.