Skip to comments.Oil price tumbles on supplies and Goldman pullback
Posted on 04/12/2011 1:56:01 PM PDT by Kaslin
NEW YORK (AP) -- Oil dropped to the lowest level this month on Tuesday as energy experts said the world will remain flush with surplus oil this year despite the loss of Libya's exports and increased demand from Japan.
Oil was also pushed down after Goldman Sachs warned investors that the price had already topped its second-quarter forecast and is due for a "substantial pullback" in the near term. Traders took special notice of Goldman's warning because the investment bank is considered a big player in oil markets, and it's known for bullish price forecasts.
(Excerpt) Read more at finance.yahoo.com ...
I’m sure prices at the pump will drop at the same rate. ;O)
Goldman is very good at manipulating the market with its “projections.” The brass there will be doing everything they can to get the voters in a happy frame of mind before the 2012 elections. Goldman owns this administration.
In other words GS has sold it’s calls and has bought the puts... now it’s time for the sheep on Wall Street to fall in line and make them their money...
Ali baba and the forty thieves.
All we need now is to get the Democrats out of office, repeal the Obamacare debacle and have a Christian revival that sweeps the land!
Sheep shearing in process. Why fools keep dealing with these thieves is beyond me.
So since it’s not a supply problem who makes the money on goosed up pump charges?
Personally, I think it’s a short play.
Are you in any way surprised by this news?
They (that general liberal “they” that accounts for UN, Arab League, OPEC, Russians, Chicoms et all...) will never let Barack´s neck pending on the rope!
Barack and US Libs are too much important to just fall now, without them, the World Government is impossible!
“In other words GS has sold its calls and has bought the puts... now its time for the sheep on Wall Street to fall in line and make them their money...”
You Bet. And so few people get it. Oil would have never been high in the first place if were not for the likes of GS, and JPM, And the money they get handed by the FED(Taxpayer).
Hey even the banker wives and girlfriends have gotten in on it. Check out this story.
The Real Housewives of Wall Street
“Personally, I think its a short play.”
In the end it is all of us who have been played.
No more calls, please; we have a winner.
Fox News reported this morning that the price of gas in Libya is 59 cents a gallon, and it Venezueala it’s only 7 cents per gal. With all the oil that could be gotten out and that the rats and the environmentalist nuts don’t want the oil companies to drill, We shouldn’t have to pay more then 50-60 cents a gallon
(Big inhale)..This is me holding my breath, waiting for gas prices to come down a bit...
Certainly real PEOPLE are not borrowing. The acceleration of money is at it's worst in history.
Commodities will FALL and they will pull down the facade of inflation with them.
The holders will turn around one day and realize there's nothing but a cold wind behind them...NOT buyers at ever increasing prices.
Deflation is still king...right up there with CASH.
Buy and hold cash, both in the bank and under your mattress. Augment with other stores which ensure survival.
My thoughts to the TEE. Goldman is manipulating the price for obastard’s re-election and making money on the short they set up to boot. Nasty bastards all of them.
We are more-or-less awash in oil. Tankage at Cushing is full to the brim and the pipeline from Canada is laid all the way to Cushing and full of Canadian Oil just ready and waiting for release to the Gulf Coast Refineries that can process it. All it takes is for obastard to sign the permission. One stroke of the pen and oil prices in this country drop like a stone.
I'm cynical enough to believe that.
Want to turn our country around. drill drill drill
without adequate fuel ,there can not be a recovery!
perhaps this is what obama wants?
If we used our own oil , gas could be at cheap as $1.00 per gallon!!!!!
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