Oil Drop

BigRedB2 said:
rumor mill says $3.49 in lenor? any one verify this?
Oil is down to $119, we need it to get below $100.00
its still dropping.
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paid 3.49 at the new Wal Mart on 321 in Granite Falls.
 
3.29 Cash at Spinx in Spartanburg
 
Cheapest I've seen around here is $3.75 for regular and $4.49 for diesel.

I think oil will go below $100/barrel in less than 4 weeks.
 
andrewlail76 said:
just in time for Labor day...to try and boost travel...if they let gas fluctuate with it...
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2 things going on here. 1. When Bush signed the Exec order to allow offshore drilling price has started to fall. Just like any disruption in supply or demand has an effect. Any potential long term supply increase will reduce price if demand remains stable. But when investors are buying oil futures 6-12 months out the dont want to gamble on increased supply killing there futures contracts, especially if the are buying futures naked. 2. This is hurting our economy which is 26% of world economy overall. The decreased demand from the US combined with a reduction in world wide economic output that are heavily interelated, has reduced demand thus lowering price.
 
Reed said:
http://money.cnn.com/2008/08/04/news/oil.recession.fortune/index.htm?postversion=2008080415
well shit... :(
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this is what infuriates me about media bullshit.
The media is trying to convince this damn country they are in a recession, so bad they can't stand it, yet we have failed to have a single quarter of negative GDP...

Why is it that for months CNN has spewed that inflated gas prices were going to destroy the economy by spearheading inflation; yet now that gas prices are coming down they will destroy the economy by flooding the market with speculative dollars. Meanwhile ddid anyone else catch the 300 point dow jump....

look around. My business is having its best year on record. With the single (albeit significant) exception of the residential housing market every other facet of our economy is going through phenomenal growth...

Wait I'm not supposed tto think, baaaaaaaaaahhhhhhh recession coming.....Baaaaaaahh


Baaaaaaah need change
Baaaahhh obaaaaaaama
 
BTW does it get a pretty picture now Chuck?
 
It isnt news unless something bad is happening. Plain and simple, the whole economy is based on faith in the dollar. People just need to start believing harder. :lol:
 
SkyHiK5 said:
yet we have failed to have a single quarter of negative GDP...
Baaaahhh obaaaaaaama
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It is truly sad to know that 78% of our country does not know and/or believe this fact.

The media want a Dem president and are doing their best to make it happen. Why wasnt the protest on the House floor last friday make it to ANY news outlets other than Fox??????
 
didnt we have our first negativr growth quarter last quarter? im not claiming the economy sucks, jsut making sure facts are straight. 200 years of positive growth is damn good. and this quarter is set to resume growth.
 
BigRedB2 said:
didnt we have our first negativr growth quarter last quarter? im not claiming the economy sucks, jsut making sure facts are straight. 200 years of positive growth is damn good. and this quarter is set to resume growth.
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No 1% growth last qtr. Go to www.realclearpolitics.com and there is a section real clear markets where you can find objective viewpoints from both sides.
 
BigRedB2 said:
right, isnt that 1% growth pre inlfation adjustment?
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As is GDP by definition....

And 1% in the middle of a housing crisis, and energy crisis, and a gas crisis?
We must be the shizit.
 
$4.34 for diesel in lincolnton today
 
Im shocked this didnt get moved btw...
 
So.... Here in salisbury, everywhere is still in the 3.84 range.... it was 3.89 at its highest at a lot of stations......
 
awspence said:
So.... Here in salisbury, everywhere is still in the 3.84 range.... it was 3.89 at its highest at a lot of stations......
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Yep, there is some gouging going on by some stations. Two stations across the street from each other each had prices about the same as they were increasing, then recently one of them dropped diesel $0.20 gallon to $4.49 while the other one still had it at $4.69.
 
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