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BREAKING NEWS: Crude futures drop more than a dollar in late afternoon sell-off to $67.50 a barrel.
money.cnn.com ^ | 9/6/2006 | staff

Posted on 09/06/2006 11:48:53 AM PDT by kellynla

Crude futures drop more than a dollar in late afternoon sell-off to $67.50 a barrel. More soon.

(Excerpt) Read more at money.cnn.com ...


TOPICS: Business/Economy; Front Page News
KEYWORDS: crude; energy; oil
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1 posted on 09/06/2006 11:48:56 AM PDT by kellynla
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To: kellynla

I wanna see $25 a barrell oil again.


2 posted on 09/06/2006 11:49:58 AM PDT by MAD-AS-HELL (Put a mirror to the face of the republican party and all you'll see is a Donkey.)
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To: kellynla

Gas is now selling at $1.65 on the wholesale market.


3 posted on 09/06/2006 11:50:25 AM PDT by Perdogg (My friends say I should act my age - What's my age again?)
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To: MAD-AS-HELL

Well at this rate it'll be 25 dollars a barrel at the end of October.


4 posted on 09/06/2006 11:50:40 AM PDT by mhx
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To: kellynla

That dastardly Karl Rove! This is being done to lull the sheeple to sleep before the election! /DUmmie mode


5 posted on 09/06/2006 11:50:46 AM PDT by Purrcival (Have a holly, jolly Fitzmas! It's the best time of the year!)
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To: kellynla
My first gallon of gas cost 25 cents.
6 posted on 09/06/2006 11:51:07 AM PDT by msnimje (What part of-- "DEATH TO AMERICA" --do the Democrats not understand?)
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To: kellynla

Damned!


7 posted on 09/06/2006 11:51:07 AM PDT by Paleo Conservative
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To: kellynla

When all is said and done, DU is somehow going to link this "somewhat encouraging" drop in oil prices to Diebold, Karl Rove, Nixon, and Arbusto Oil. I can feel it.


8 posted on 09/06/2006 11:51:20 AM PDT by edh
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To: mhx

I hope not.


9 posted on 09/06/2006 11:51:29 AM PDT by Paleo Conservative
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To: MAD-AS-HELL
No you don't. If that were the case we would be in some serious economic trouble. Also, some 401k would suffer.
10 posted on 09/06/2006 11:51:33 AM PDT by Perdogg (My friends say I should act my age - What's my age again?)
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To: kellynla

The oil bubble has popped!


11 posted on 09/06/2006 11:51:41 AM PDT by Brett66 (Where government advances – and it advances relentlessly – freedom is imperiled -Janice Rogers Brown)
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To: kellynla

Time to go buy that '99 Trans Am I've been wanting...


12 posted on 09/06/2006 11:53:45 AM PDT by JamesP81 ("Never let your schooling interfere with your education" --Mark Twain)
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To: Brett66

Dingy Harry is deeply saddened. Pelosi's saddened too, but with eyes wide open (can't help it, too many facelifts).


13 posted on 09/06/2006 11:54:43 AM PDT by COBOL2Java (Freedom isn't free, but the men and women of the military will pay most of your share)
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To: kellynla

$2.19 in Bootheel. $2.27 in Ozarks.


14 posted on 09/06/2006 11:55:08 AM PDT by donozark (Restraining orders are just another way of saying I love you.)
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To: Hydroshock; ex-Texan

more sky falling? first home prices and now oil. Oh my, what are we going to do?


15 posted on 09/06/2006 11:55:28 AM PDT by showme_the_Glory (No more rhyming, and I mean it! ..Anybody want a peanut.....)
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To: Brett66

Nah. We just need a hurricane or a shutdown of production or a refinery shutdown somewhere to give the speculators the ammo for another run on our pocketbook. The price of crude has been below $70 a few times already this year and it's always come back. I'll believe it's for real when it goes below $60.


16 posted on 09/06/2006 11:56:25 AM PDT by saganite (Billions and billions and billions-------and that's just the NASA budget!)
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To: Perdogg

And what happens to all the local government (CA at least) spending once they cant get 90 cents a gallon sales tax on fuel?


17 posted on 09/06/2006 11:56:28 AM PDT by BurbankKarl
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To: kellynla
Karl Rove musta called O'Reilly's Executive VP who sits in the bowels of the Exxon-Mobil HQ and sets oil prices each morning.

Said "Gotta cut those prices for a while, 'else the Demonrats will sweep in November!"

18 posted on 09/06/2006 11:57:44 AM PDT by Sooth2222
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To: Perdogg

Sure I do. From early 90's to ~1998, oil hovered between $20-30 a barrel. Was the economy in serious trouble then?

Remember, a lot of this is FUTURES derived, which means the price of a barrel is artifically inflated.

Do I think it will get to 25/30 bucks? No. But I do hope it drops to the $50 range.

I also hope we start to find more oil reserves. And I think it would be neat if we soon realize that oil is a naturally occuring product that the earth makes itself.


19 posted on 09/06/2006 11:59:04 AM PDT by MAD-AS-HELL (Put a mirror to the face of the republican party and all you'll see is a Donkey.)
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To: BurbankKarl

I understand fuel tax to be based on gallon, not price per gallon.

That is: $.75 per gallon, not 75% like a real sales tax.

If gas was .01 wholesale, it would cost $.76 at the pump.


20 posted on 09/06/2006 11:59:21 AM PDT by MeanWestTexan (Kol Hakavod Lezahal)
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