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If Oil Prices Are Telling Us Anything, The World Economy Is In For A Rough Ride
The Business Insider ^

Posted on 05/15/2010 1:53:37 PM PDT by blam

If Oil Prices Are Telling Us Anything, The World Economy Is In For A Rough Ride

Joe Weisenthal
May. 15, 2010, 10:23 AM

Forget European banks for the moment. We know why they're troubled. Check out oil.

StockCharts.com:

Image: StockCharts.com

It took a huge leg down on Friday, and if you're the type who cares about lines and technicals, it's now well below the 200-day moving average, which screams bear market (and would also seem to scream deflation). Of course, it's been impressively volatile, and was this low right after Scott Brown.

Now on the other hand, investors continue to sing the praises of Palladium, which remains near all-time highs. Here's a glowing, pro-Palladium article in Bloomberg. Its big use is catalytic converters for cars. And yet, oil would also seem to benefit from the same trends, so the disparity is a bit odd. Of course, there are supply issues as well, so merely looking at demand is only getting half of the equation.

Yet the disparity is interesting.

[snip]

(Excerpt) Read more at businessinsider.com ...


TOPICS: News/Current Events
KEYWORDS: economy; gasoline; oilprices; palladium
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1 posted on 05/15/2010 1:53:38 PM PDT by blam
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To: blam
If Oil Prices the Actions of the Current Administration Are Telling Us Anything, The World Economy Is In For A Rough Ride.

Fixed it!

2 posted on 05/15/2010 1:58:55 PM PDT by 2ndDivisionVet (Don't care if he was born in a manger on July 4th! A "Natural Born" citizen requires two US parents!)
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To: blam

So when are we going to see gasoline prices drop? We are still at $3.50 a gallon here in California. Even with the summer special blends increasing the price, we should be seeing a drop.


3 posted on 05/15/2010 2:00:47 PM PDT by gunsequalfreedom
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To: gunsequalfreedom

I saw it at $2.69 this morning in Mobile.


4 posted on 05/15/2010 2:08:06 PM PDT by blam
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To: blam

Gee! No kidding?


5 posted on 05/15/2010 2:10:12 PM PDT by Paperdoll ( On the cutting edge)
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To: gunsequalfreedom
"We are still at $3.50 a gallon here in California"

Thank your fellow voters. You get the government you (as a whole, not you personally) deserve. And we all get the best government money can buy.
6 posted on 05/15/2010 2:15:39 PM PDT by JoSixChip (You think your having a bad day?.....Just remember, somewhere out there is a Mr. Pelosi!)
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To: gunsequalfreedom

Gov’t interference. Lower gas prices yield lower tax revenue. Follow the $$$. If a free market is dysfunctional, it’s gov’t.


7 posted on 05/15/2010 2:16:45 PM PDT by VRWC For Truth (Throw the bums out who vote yes on the bail out)
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To: gunsequalfreedom

It generally goes UP at the onset of the summer driving season out here in flyover. Then again is there such a thing in California? I used to drive like Hell all year long when I was a residink of the Golden State back in the day. As a teen I pumped the stuff in Contra Costa Co. for 25 to 35 cents a gallon. (early 70s)

Ours has continued to oscillate between $2.55 and $2.72 here in KC.


8 posted on 05/15/2010 2:20:43 PM PDT by CARTOUCHE (The game continues. Let them come for me and mine.)
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To: gunsequalfreedom

I filled up yesterday at $2.63 per gallon in Kernersville, NC. Two stations with that price, Hess and Shell.


9 posted on 05/15/2010 2:25:16 PM PDT by RegulatorCountry
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To: CARTOUCHE

Ah, the days of working in a gas station. Very handy for keeping the car in good running order. During the Carter gas rationing days, what better job to keep your gas tank full.

Pump prices were the same you mention when I was doing the job.


10 posted on 05/15/2010 2:28:32 PM PDT by gunsequalfreedom
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To: gunsequalfreedom
So when are we going to see gasoline prices drop? We are still at $3.50 a gallon here in California

$2.65 in the south,, why don't you move? (and bring the flag with you)

11 posted on 05/15/2010 2:29:00 PM PDT by 2aberro
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To: gunsequalfreedom

$3.50 a gal. in CA? Whoa, where do you buy gas? I buy mine at Costco in La Quinta, CA where is was $2.96 per gal. on Tues. Plus, using a Costco American Express card I get an additional 3% rebate on all gas purchases. So, that was nearly additional 9 cents off the per gal. price.


12 posted on 05/15/2010 2:39:13 PM PDT by CdMGuy
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To: CdMGuy

The prise of oil has been fluctuating with the strength of the dollar not supply and demand. It seems to me that demand has not increased in the last year and half.


13 posted on 05/15/2010 2:52:04 PM PDT by steveab (When was the last time someone tried to sell you a CO2 induced climate control system for your home?)
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To: 2aberro

2.83 in Arizona. (But you might encounter lines of illegals fueling up to leave the state.)


14 posted on 05/15/2010 2:54:33 PM PDT by NaughtiusMaximus (Mexico presents a more profound threat to our territorial integrity than Germany or Japan ever did.)
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To: gunsequalfreedom

Think you can forget much of a drop in California prices. I paid $2.68 yesterday at Costco in Arlington, TX.


15 posted on 05/15/2010 2:57:09 PM PDT by engrpat (A village in Kenya is missing their idiot...lets send him back)
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To: NaughtiusMaximus

Illegals get head of the line privileges. If they are going back to Mexico, then that’s OK.


16 posted on 05/15/2010 2:58:57 PM PDT by encm(ss)
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To: gunsequalfreedom

I pay $3.28 at Sam’s Club in Pearl City; about $.15-.20 a gallon lower than the regular pump price in Honolulu.


17 posted on 05/15/2010 3:01:32 PM PDT by Islander7 (If you want to anger conservatives, lie to them. If you want to anger liberals, tell them the truth.)
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To: blam

Crude is still overpriced. It’s interesting that they aren’t able to support the prices moving into summer, however.


18 posted on 05/15/2010 3:08:59 PM PDT by PAR35
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To: encm(ss)
Illegals get head of the line privileges. If they are going back to Mexico, then that’s OK.

If they're heading back home to Mexico they ought to go to the head of the line and get a special discount.

19 posted on 05/15/2010 3:18:53 PM PDT by NaughtiusMaximus (Mexico presents a more profound threat to our territorial integrity than Germany or Japan ever did.)
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To: CARTOUCHE
As a teen I pumped the stuff in Contra Costa Co. for 25 to 35 cents a gallon

Ditto me that in the mid-sixties..."Oscar's Flying A".

They'd drive up, run over the clanger and order "A dollar's worth of your finest"...(and we'd do the windows, check the tires, oil and battery water)

20 posted on 05/15/2010 3:23:11 PM PDT by ErnBatavia (It's not the Obama Administration....it's the "Obama Regime".)
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