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Crude futures prices tap $75 for first time ever in NY
CBS Marketwatch ^
| 4/21/2006
Posted on 04/21/2006 10:46:54 AM PDT by Rutles4Ever
SAN FRANCISCO (MarketWatch) -- Crude-oil futures climbed to a high of $75 per barrel Friday for the first time ever for a front-month contract on concerns about tensions surrounding Iran's nuclear activities, violence in Nigeria, and tight U.S. supplies of unleaded gasoline. June crude was last up $1.26, or 1.7%, at $74.95 per barrel. "We often see this sort of short covering in a record-setting bull market ahead of a weekend, since nobody is sure where we may be Monday," said trader Kevin Kerr, who is also editor of MarketWatch's Global Resources Trader.
TOPICS: Breaking News; Business/Economy; Culture/Society; News/Current Events
KEYWORDS: crude; economicilliteracy; oil; rape
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To: iThinkBig
Marketing = commercials on how Exxon, BP and others are trying to save our ecology by drilling smarter.Marketing suggests that there is competition. There is no other option for us but to buy gas for our cars. Seeing an ad on television or anywhere else doesn't influence me as to which gas station to go to. It's another way for a corp. to spend money on lobbyists and themselves.
201
posted on
04/21/2006 3:24:36 PM PDT
by
raybbr
To: raybbr
Marketing suggests that there is competition. Send more liberals and enviormental wackos to Washington this fall and eliminate competition.
(110% Sarcasm)
202
posted on
04/21/2006 3:51:43 PM PDT
by
TYVets
(God so loved the world he didn't send a committee)
To: santorumlite
To: RockinRight
To: raybbr
There is competition in the gas refiners market, but that isn't the reason prices are above 3 bucks. The problem is there is no competition in the oil pumpers market. OPEC controls the market. Oil isn't selling at 75 bucks because Exxon said so its because OPEC doesn't produce at 100% of there capacity.
So when Exxon makes a dime a gallon off your three bucks, Saudi Arabia makes a buck and a half off it.
To: Lucky9teen
judging fro mthe hairstyle and ford capri i'd say that pic was 1978 or 79..thus $1.03 would hardly be considered cheap
To: Rutles4Ever
how many miles do you drive per month??? $400 per month is nearly $5000 per year or nearly 4-5x what the average person pays for gas in a year
To: chris1
there is no such thing as energy independence
To: RHINO369
209
posted on
04/21/2006 4:36:12 PM PDT
by
bjs1779
To: georgia2006
Hey man, that was me 2 years ago.....
sarc
210
posted on
04/21/2006 4:43:18 PM PDT
by
Lucky9teen
(Gov't solution to invasion=band aid. What we need is to fix the leak, before we clean up the mess.)
To: iThinkBig
Marketing= lobbying.
What you thought those big oil lobbyists worked for free?
211
posted on
04/21/2006 4:56:41 PM PDT
by
brothers4thID
(Being lectured by Ted Kennedy on ethics is not unlike being lectured on dating protocol by Ted Bundy)
To: Rte66
I wasn't talking about the existing oil fields; I was talking places like AN"W"R and the eastern Gulf of Mexico.
212
posted on
04/21/2006 5:16:10 PM PDT
by
steveegg
(Sen. Ted "Swimmer" Kennedy's vehicles have killed more people than V.P. Dick Cheney's guns)
To: bjs1779
How much of the oil sold in China is domestic? Otherwise I can't explain why China's price is so cheap unless they have a large source of oil. There's a reason in Venezuela the price is 14 cents, thats how much it'd cost here if we could break OPEC. I think its a mistake to let Iraq manage its own oil reserve. We should have sold it to an American company and taken the money we got for selling it and used to rebuild Iraq. Then made damn sure those US owned oil fields sold well below market price at 100% capacity. Oil would be at 10 bucks a barrel in 6 months if that happened.
To: TenthLegion
All cars use a belt-driven alternator driven off the crankshaft.
214
posted on
04/21/2006 5:22:00 PM PDT
by
steveegg
(Sen. Ted "Swimmer" Kennedy's vehicles have killed more people than V.P. Dick Cheney's guns)
To: RHINO369
I know. Take all the taxes off and we are still screwed. It is hard to believe their refinery efficiency offsets this.
215
posted on
04/21/2006 5:28:33 PM PDT
by
bjs1779
To: bjs1779
Most of the cost of gas is the crude oil prices. Even with free unlimited refining we'd still have to pay 75 bucks for a barrel of oil.
To: Rutles4Ever
Inflation is being masked.
217
posted on
04/21/2006 5:42:09 PM PDT
by
P.O.E.
To: RHINO369
Most of the cost of gas is the crude oil prices. Even with free unlimited refining we'd still have to pay 75 bucks for a barrel of oil. As far as I know, China is as dependent on outside oil as we are.
218
posted on
04/21/2006 5:50:01 PM PDT
by
bjs1779
To: bjs1779
Those prices are from May 2004, and it doesn't say what the US was paying.
Thats why I was asking where they get their oil from. Notice how oil producing nations have super cheap oil. If China gets cheap oil from some friendly nation that could explain it. Most of the price of gas is in buying the oil. Thats where the real gouging is going on. Its costs middle eastern nations 4 bucks a barrel to pull oil from the ground and they sell it for 75. OPEC are the ones price gouging.
To: OXENinFLA
220
posted on
04/21/2006 6:09:45 PM PDT
by
stephenjohnbanker
((Immigration: Acting like dupes does not earn us their respect, but their CONTEMPT.))
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