Oil Drop

Looks like the speculators are jumping ship.

BRUISER said:
the better question is how long will it take for us to see this at the pump?
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No doubt. The station down the street when up from $4.08 to $4.12 either yesterday or Monday. We will see how quickly it drops.

My dang Samurai smelled like its got a fuel leak on the way home yesterday, and the hood release wouldn't work so I had to Hoe it today.
 
It's always lightning fast to go up, and never really goes back down. Best case is that it'll stay still for a longer amount of time.
 
Another $4 drop today, and Mexico is locking in contracts at today's prices for the coming years. Looks like the bubble may have finally burst.
 
I saw gas for $3.69/gallon today in Asheboro. Its a cash only station. I filled the Jeep up across the road from this station for $3.73/gallon. The cheaper place is not a 24 hour store. On the way home I saw stations still selling gas for $4+/gallon.

<><Fish
 
It won't matter...storms currently off of the US coast will be all it takes to make it jump back up...regardless of whether or not they make landfall. It will trigger a "strong surf" that will damage an oil line or force a shut down...though all the oil comes from over seas.

We need to take over the oil fields in the middle east and ration the oil to everyone and give the countries over there their fair share...

That's the main reason we're really over there...

and we'll never see gas under $3 again...

point has been proven that America will buy gas regardless of price...sad part is that it is KILLING America...

price of everything goes up and employers can't give a salary increase to cover gas increases...so everyone works for less and goods cost even more...

Cost of living goes up 2%...gas goes up 75%...

a 3% raise doesn't do S@&t
 
andrewlail76 said:
We need to take over the oil fields in the middle east and ration the oil to everyone and give the countries over there their fair share...
That's the main reason we're really over there...
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you're a communist. I can't believe people are still claiming that crap. How can we be over there for oil AND be in the middle of an oil crisis?

Taking from those who have it and giving it to those who need it is Marxist. Infact...its ths definition of it!


anyway, the storms didnt seem to hav much affect on oil this time because it dropped another 3 bucks today.

Congress is debating today on the federal regulatory bill and there is a surplus in national supply. Couple that with the falling demand and i think thats going to burst the bubble. Once everything smooths itself out...will the bubble re inflate?
 
congress okay'd (sorta) the federal regulator bill. speculators are running scared. oil is on its way back to atleast $90 a barrel.

Iran is going to do everything it can to appear hostile because they know it makes the price go up but i really think the bubble has burst. i think the speculators have realized how harmful putting air in that bubble can be.

Not to mention T boone Pickens going on his alternate fuel campaign following the play book from Al Gore and his Global warming hoax.

Whether T. Boone is serious and really things wind farms is the way to go or not is non point. The fact that he is campaigning hard core is going to force america to believe we need it just like Gore forced us to believe in global warming. America is going to tool up and go green and oil is going to be "a thing of the past". The speculators also realize that aswell, and i assume, i havent checked, that T. Boone Stock is going up as the price of oil falls.

Don't sell your V8 yet...oil is on its way back down. as for the damage its done to the economy, i dont know how long its going to take for that to right it self. Buy some MREs though!
 
well, the prediction is $2.00 a gallon. im not that optimistic though. iim thinking between $2.50-2.80. We will have to see what happens with iran after the election. If Obama gets in, Achmadinejad will be a little bolder than he would with McCain. boldness out of iran drives prices up.

We will also have to see if congress approves the opening of new refineries and offshore drilling.

In an enviromentalistless world gas could possible fall to $1.00-1.50 a gallon again.
 
It would be nice, then everyone would start driving their gas hogs again. Hoping I can sell the gas sipper of my parents that I'm resurrecting before it drops too much.
 
BigRedB2 said:
well, the prediction is $2.00 a gallon. im not that optimistic though. iim thinking between $2.50-2.80. We will have to see what happens with iran after the election. If Obama gets in, Achmadinejad will be a little bolder than he would with McCain. boldness out of iran drives prices up.
We will also have to see if congress approves the opening of new refineries and offshore drilling.
In an enviromentalistless world gas could possible fall to $1.00-1.50 a gallon again.
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if that happens I'll be wheeling every weekend not just a few times a month.
 
lol, yeah, I'll be able to afford to drive to URE for a change!
 
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