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> Oil Reaches $80 A Barrel
MiamiLX
post Oct 19 2009, 02:34 PM
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This artificial Government backed rise in the Stock Market has Oil at $80 Today. The good times are gone. (IMG:style_emoticons/default/thumbsup.gif)

I look for the second wave of the World recession to be worst than the first. (IMG:style_emoticons/default/banana.gif)
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Pinto_Siftbean
post Oct 19 2009, 06:16 PM
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On a side note.. there is a glut of Natural Gas, so those of us who use NH4 to heat our homes are getting a break on the heating bills this winter!!! (IMG:style_emoticons/default/thumbsup.gif)
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ginelmore
post Oct 20 2009, 10:52 AM
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There is also a GLUT OF OIL & GAS. BEND OVER THE BIG ONE IS COMING

This post has been edited by ginelmore: Oct 21 2009, 10:13 AM
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MiamiLX
post Oct 20 2009, 01:35 PM
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QUOTE (ginelmore @ Oct 20 2009, 08:52 AM) *
There is also a GLUT OF OIL & GAS. BEND THE BIG IS COMING


The Big what? Pumpkin?
Attached File  pumpkin.JPG ( 30.27K ) Number of downloads: 0
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rsquared
post Oct 20 2009, 09:59 PM
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QUOTE (ginelmore @ Oct 20 2009, 11:52 AM) *
There is also a GLUT OF OIL & GAS. BEND THE BIG IS COMING


(IMG:style_emoticons/default/puzzled.gif) Wouldn't that lower the price? Maybe the impending war in Iran is driving the price up?
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lovemysantafe
post Oct 20 2009, 10:24 PM
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This is mere speculation that the demand will return. We are currently in an overstock situation in terms of crude oil and the demand is not there for prices to be anywhere near $80. It's just a question of how long this will last...these idiots need to learn that when you over-charge for commodities during a rebound, the recovery is likely to take LONGER.
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rsquared
post Oct 20 2009, 11:12 PM
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QUOTE (lovemysantafe @ Oct 20 2009, 11:24 PM) *
This is mere speculation that the demand will return. We are currently in an overstock situation in terms of crude oil and the demand is not there for prices to be anywhere near $80. It's just a question of how long this will last...these idiots need to learn that when you over-charge for commodities during a rebound, the recovery is likely to take LONGER.



True, but did OPEC cut production because of the overstock? I haven't heard. Any talk of this always drives the price up.

This post has been edited by rsquared: Oct 20 2009, 11:12 PM
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MiamiLX
post Oct 27 2009, 04:11 PM
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QUOTE (rsquared @ Oct 20 2009, 09:12 PM) *
True, but did OPEC cut production because of the overstock? I haven't heard. Any talk of this always drives the price up.

Who knows what they are up to (OPEC) as it is our Oil Companies who claim they can't make enough money on refining Gas when Crude prices are low.
Funny they didn't say that when Gas was 99 Cents in 2001. I see Crude bounced back right under $80 today. I just filled up for less than I did when crude was $68? Gas is up 18 cents nationally in the past two Weeks. So why did I just pay less?
$2.17 a Gallon (IMG:style_emoticons/default/banana.gif)
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Luxury
post Oct 28 2009, 07:51 AM
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The price of gas has nothing to do with the price or availability of crude. It's all about politics and speculation in the market.

Regular gas is going up steadily in here in WI - it's currently $2.74 a gallon. I just put $102.36 in my other vehicle (it's got a slightly bigger tank than the Sonata).
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