Posted on 05/05/2015 5:25:53 PM PDT by yuffy
Here's something the world hasn't seen since December: oil trading above $60 a barrel. Traders are buzzing about whether its a sign that the era of low gas prices for American drivers is over.
"It looks like this market is breaking out," said Phil Flynn, a senior energy analyst at the Price Futures Group in Chicago. It's a new high point for 2015. Crude oil prices fell below $45 earlier this year. While American drivers cheered the low gas prices at the pump, oil companies cut jobs and there was a panic sell-off in the stock market. Big energy stocks tanked, dragging much of the rest of the market lower with it.
(Excerpt) Read more at money.cnn.com ...
Oh my, so the greedy politicians won’t need a carbon tax after all (not that rising oil prices would stop them anyway).
It was hussein bending to the whims of his muzzie masters that wreaked havoc on the Texas economy when oil prices crashed. The uptick will mean good things for suffering areas in the Lone Star State.
you beat me to it. WT@ kind of politicians did we elect that they had an orgasm the second oil dropped with fantasies of a gasoline tax.
It was like hardcore porn to them. HOW DID THIS HAPPEN and make it stop!!
No kidding. We had the same sort of talk up here in Canuckistan. As if cutting back on government was a completely unheard of thing for them.
@#$@#$ing den of vipers
Wall Street installed Obama and that is why he gave them immunity from prosecution, and our tax bailout, and the Fed bailed them out too.
Thank God for that, I sure didn't want to pay under $3 for gas anymore.
Sigh.
I guess the price of milk will be going back up again.
I need oil to go to $100 so that my energy stocks can recover.
Time to start fracking.
Drill, baby, drill.
There's 42 gal. in a barrel of oil, so the crude itself is priced at roughly $1.43/gal. a. Compensate the supplier for his refining and distribution costs from the wellhead to the refinery, then from the refinery to the nearest terminal.
b. Similarly, compensate the wholesaler for his distribution costs from the terminal to the station you're using.
c. Compensate the retailer for his investment, operating expenses and profit (measured in pennies/gal.).
d. Contribute abo0t $.50-.65/gal in taxes to the feds and the state.
e. Generate about a dime's worth of profit for the refiner.
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