Posted on 02/06/2009 10:40:51 AM PST by Virginia Ridgerunner
Oil prices plunged below 40 dollars a barrel in New York on Friday, as grim unemployment data stoked concerns about weak energy demand in key consumer the United States, traders said.
New York's main futures contract, light sweet crude for delivery in March, fell as low as 38.60 dollars per barrel. It later stood at 39.54, down 1.63 dollars from the close on Thursday.
(Excerpt) Read more at breitbart.com ...
The market knows American is reversing course on oil production from the Bush administration.
There’s a heckuva sucker’s rally happening right now.
I may have to go back to swing trading after giving it up for ten years.
Just remember - when gas prices go up it’s tied to the price of oil.
When oil declines and gas prices go up well, it’s just because.
Why it’s all part of How the O wants to change the way things are done, doncha know?
I think you are correct.
But the market is up 226, with oil stocks leading the way!
Chevron up 2%, Marathon Oil up 2.5%, Royal Dutch up 2.7%.
Oil markets are saying that Porkulus won’t save us.
O.K., can somewhere tell me why gas prices have crept up by over .40 over the past three weeks.....
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Greed. But also fear of an Obama tax increase on fuel. He will not open up drilling. He must pander to the enviro-fascists that pump untold huge sums of money into DemoRAT coffers. Nor will he be smart enough to go after LPG. He is incompetent and bent.
If the economy were to ever “right itself” (notice I said itself) because BHO will not seriously reduce taxation and incentivize business to build a true revitalized economy — he will continue to lie about his government spending (pork) as the real solution to our soft economy. The power of government is his emotional and ideological goal — no matter how wrong and damaging his actions are.
Remember, it is not about what is right and will work for America and Americans. It is what is necessary to GIVE GOVERNMENT MORE POWER AND MORE MONEY that is important.
Same thing here in Dallas. It went from $1.42 to 1.79. The futures are high at about 1.24 gal for gas. Before at 41.00 a brl they were at about .97/.98 cents/gal
Somebody is making some good bucks... right when American Citizens need every break they can get.
The way things are going, we aren’t going to be able to afford gasoline if oil goes to a dollar a barrel.
The government wants you to get use to the higher prices so when they raise the gas tax by $2.00 a gallon you won’t notice it.
yet gas prices have increased since early December... WTF?
O.K., can somewhere tell me why gas prices have crept up by over .40 over the past three weeks,
Good question. I thought part of the increase may have been due to the labor neogiations that was going on.
Ok guys, everyone who told me when I repeatedly told them every penny over $35 to $45 a bbl was nothing more than greed tax driven by speculators, where are you now?
You really want to know why the price has gone up at the pump, even though the crude is low? You know why, but you can’t actually call a spade a spade here if it dares call into question the idiotic belief that markets are perfect.
Unfettered capitalism breeds corruption. - Theodore Roosevelt.
Ok guys, everyone who told me when I repeatedly told them every penny over $35 to $45 a bbl was nothing more than greed tax driven by speculators, where are you now?
You really want to know why the price has gone up at the pump, even though the crude is low? You know why, but you can’t actually call a spade a spade here if it dares call into question the idiotic belief that markets are perfect.
Unfettered capitalism breeds corruption. - Theodore Roosevelt.
I paid a low of $1.56. Now it’s $2.18. I thought its just California.
Yep, call it the B.O. Effect.
Soon, he'll have 1 million casualties of unemployed Americans under his watch.
He's so incompetent he can't even find anybody for his Cabinet who has paid their taxes.
Just wait until he gets involved in foreign policy and screws that up all to h*ll.
Thank God I live on the other side of the planet. It's the beginning of a 4 year daily Saturday Night Live skit. Pass the popcorn until President Palin comes to the rescue, just as Bush cleaned up Clinton's wasteland.
I think the GOP will have a big advantage in the next two election cycles, minimum. We’ll see.
If I’m not mistaken, it was announced yesterday that the government cancelled 77 oil leases in Utah. Maybe that had an effect on prices.
The One is so smart.
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