The Real Board
Would you like to react to this message? Create an account in a few clicks or log in to continue.

Oil Prices Retreat

+3
Cincy Fan 44
Canuck
LTRT
7 posters

Page 1 of 3 1, 2, 3  Next

Go down

Oil Prices Retreat Empty Oil Prices Retreat

Post  LTRT Tue Jul 15, 2008 3:53 pm

http://www.breitbart.com/article.php?id=D91UDTKO0&show_article=1

"NEW YORK (AP) - Wall Street recouped its steep early losses and traded mixed Tuesday as oil dropped by more than $7 a barrel, giving investors hope that lower energy prices could help revive the flagging economy."

affraid No way, your kidding me. Can't wait for that five cent drop in the gas price. Rolling Eyes
LTRT
LTRT
Jedi Master
Jedi Master

Male
Number of posts : 3456

Back to top Go down

Oil Prices Retreat Empty Re: Oil Prices Retreat

Post  Canuck Tue Jul 15, 2008 4:29 pm

Damn, I just filled up last night. I knew I should have waited.

Just a side question, are they allowed to change the prices at the pumps daily in Fort Wayne?
Here in Ontario, they can change it as often as they want.
British Columbia, they have to publish it before it is changed.
New Jersey, they can only change it once a week.
Canuck
Canuck
Jedi Padawan
Jedi Padawan

Male
Number of posts : 1717
Location : Kanaduh

Back to top Go down

Oil Prices Retreat Empty Re: Oil Prices Retreat

Post  Guest Tue Jul 15, 2008 4:46 pm

Canuck wrote:Damn, I just filled up last night. I knew I should have waited.

Just a side question, are they allowed to change the prices at the pumps daily in Fort Wayne?
Here in Ontario, they can change it as often as they want.
British Columbia, they have to publish it before it is changed.
New Jersey, they can only change it once a week.

Yea, they can change it every day, more than once a day.... I dont see how a $7 drop in oil that is already up $30 is going to revive anything.
Anonymous
Guest
Guest


Back to top Go down

Oil Prices Retreat Empty Re: Oil Prices Retreat

Post  Canuck Tue Jul 15, 2008 4:53 pm

I agree Pez.

It is funny when some of us see that 5 cents drop we think we are getting a deal.

For us it is about 5.15 CAD a gallon.
Canuck
Canuck
Jedi Padawan
Jedi Padawan

Male
Number of posts : 1717
Location : Kanaduh

Back to top Go down

Oil Prices Retreat Empty Re: Oil Prices Retreat

Post  Guest Tue Jul 15, 2008 5:52 pm

I doubt we'll see any drop to be honest.

I was in Anderson on Sunday for gas.. it was $3.98 just off the interstate. $4.13 in FW the same day and I think it was $4.13 in Indy as well.
Anonymous
Guest
Guest


Back to top Go down

Oil Prices Retreat Empty Re: Oil Prices Retreat

Post  LTRT Tue Jul 15, 2008 6:55 pm

cardinal5150 wrote:I doubt we'll see any drop to be honest.

Saw a 6 cent increase on the way home tonight.
LTRT
LTRT
Jedi Master
Jedi Master

Male
Number of posts : 3456

Back to top Go down

Oil Prices Retreat Empty Re: Oil Prices Retreat

Post  LTRT Tue Jul 15, 2008 10:13 pm

Bush Says Drill, Drill, Drill — and Oil Drops $9! [Larry Kudlow]
Tuesday, July 15, 2008

In a dramatic move yesterday President Bush removed the executive-branch moratorium on offshore drilling. Today, at a news conference, Bush repeated his new position, and slammed the Democratic Congress for not removing the congressional moratorium on the Outer Continental Shelf and elsewhere. Crude-oil futures for August delivery plunged $9.26, or 6.3 percent, almost immediately as Bush was speaking, bringing the barrel price down to $136.

Now isn’t this interesting?

Democrats keep saying that it will take 10 years or longer to produce oil from the offshore areas. And they say that oil prices won’t decline for at least that long. And they, along with Obama and McCain, bash so-called oil speculators. And today we had a real-world example as to why they are wrong. All of them. Reid, Pelosi, Obama, McCain — all of them.

Traders took a look at a feisty and aggressive George Bush and started selling the market well before a single new drop of oil has been lifted. What does this tell us? Well, if Congress moves to seal the deal, oil prices will probably keep on falling. That’s the way traders work. They discount the future. Psychology and expectations can turn on a dime.

The congressional ban on offshore drilling expires September 30, so that becomes a key date. A new report from Wall Street research house Sanford C. Bernstein says that California actually could start producing new oil within one year if the moratorium were lifted. The California oil is under shallow water and already has been explored. Drilling platforms have been in place since before the moratorium. They’re talking about 10 billion barrels worth off the coast of California.

There’s also a “gang of 10” in the Senate, five Republicans and five Democrats, that is trying to work a compromise deal on lifting the moratorium. So it’s possible a lot of action on this front could occur much sooner than people seem to think.

So I repeat: Drill, drill, drill. Deregulate, decontrol, and unleash the American energy industry. Those hated traders will then keep selling oil as the laws of supply and demand and free markets keep working.

Bravo for Bush. Bravo for the traders.
07/15 01:07 PM
http://kudlow.nationalreview.com/post/?q=NjMyNDljNTQ5MThjNWE3YTAzYWYzMmZmNDVmMjA0ZWY=
cheers
LTRT
LTRT
Jedi Master
Jedi Master

Male
Number of posts : 3456

Back to top Go down

Oil Prices Retreat Empty Re: Oil Prices Retreat

Post  Cincy Fan 44 Tue Jul 15, 2008 11:53 pm

I gotta admit, I think it's more than just a coincidence that George Walker Bush did this and the price of oil took a nosedive. I know some of the headlines are saying they fell because of "fears of the economy," but it sure makes you wonder, doesn't it? Almost as if the other oil-producing countries are saying, "OK, you got us, we'll drop the price a skosh if you promise to not drill for your own and take away the billions you send us."
Cincy Fan 44
Cincy Fan 44
Jedi Council Member
Jedi Council Member

Male
Number of posts : 4852
Location : Wherever you can gird your loins

http://www.whodeyrevolution.com

Back to top Go down

Oil Prices Retreat Empty Re: Oil Prices Retreat

Post  Guest Wed Jul 16, 2008 9:21 am

I'm not opposed to drilling out of hand, But...

1. this seems to be a more political move by Bushco to paint the democrats in a negative light before an election in which the republicans are widely seem as being poised to lose more seats.

2. There are millions of acres of land that oil companies are allowed to drill on, yet they do not.

3. This is an attaock on high gas prices, that is only the result of high gas consumption

The proof is in the pudding... I think the link between this action and the $7 drop in oil prices yesterday is tenuous. I would be very surprised if oil is not back up $7 by the end of this week.
Anonymous
Guest
Guest


Back to top Go down

Oil Prices Retreat Empty Re: Oil Prices Retreat

Post  Scooby01_98 Wed Jul 16, 2008 9:56 am

One advantage of the high cost of fuel is companies that sent production overseas is now starting to move it back to the US due to high shipping costs.

http://www.tennessean.com/apps/pbcs.dll/article?AID=/20080617/BUSINESS01/806170316/-1/ARCHIVE01
Scooby01_98
Scooby01_98
Jedi Padawan
Jedi Padawan

Male
Number of posts : 1642
Location : The Fort

http://www.nola.com

Back to top Go down

Oil Prices Retreat Empty Re: Oil Prices Retreat

Post  Guest Wed Jul 16, 2008 10:42 am

Scooby, I heard something about that, but I also heard the weak dollar in comparison with the Euro is also helping make the US a more attractive location to do business.
Anonymous
Guest
Guest


Back to top Go down

Oil Prices Retreat Empty Re: Oil Prices Retreat

Post  Guest Wed Jul 16, 2008 12:39 pm

I read two articles today that attribute the drop in oil prices to decreased demand due to high cost... a good indication of a plateau....
Anonymous
Guest
Guest


Back to top Go down

Oil Prices Retreat Empty Re: Oil Prices Retreat

Post  Guest Wed Jul 16, 2008 5:08 pm

dropped another $4 today.. reports are coming in of higher than expected supply, not to mention people were selling off to protect some gains. Next week will be interesting, options expire which means more trading.

I think this was a big political move that actually worked out for the white house. Now they can point to the price of oil and say "See, we cleared the way to drill and it went down". Now if the dem's don't do the same they can point to them for blocking the way and forcing prices up. If oil goes down more, they can say it was their initiative in the first place.

All in all it's a win/win for them. And no one can really prove them wrong (or right for that matter).

Oh.. the Dow was up today as well. I'd guess we'll go back down next week then slowly climb up.
Anonymous
Guest
Guest


Back to top Go down

Oil Prices Retreat Empty Re: Oil Prices Retreat

Post  floridafun Wed Jul 16, 2008 9:34 pm

cincy and ltr---have you called bushco yet to set up a look-see at your property...might be oil there!

never been any nasty oil spills on americas shores? and what was the damage and the costs? or worth it in your opinion? i think its not gonna fly.

i agree card about th political ploy. i think everything bushco from here out will be about trying to give himself a better historical appearance. he needs something besides the war to talk about on his guest appearances on fox in coming years! thought it when he started readying plans to have a stand-in talk with iran. he cracked me up in his recent speech on that...said he never said he wouldnt talk to iran LOL!!
floridafun
floridafun
Jedi Knight
Jedi Knight

Female
Number of posts : 2519

Back to top Go down

Oil Prices Retreat Empty Re: Oil Prices Retreat

Post  Guest Thu Jul 17, 2008 8:40 am

If anyone is looking for Oil, I hear they have trucks ready to roll...
Anonymous
Guest
Guest


Back to top Go down

Oil Prices Retreat Empty Re: Oil Prices Retreat

Post  Cincy Fan 44 Thu Jul 17, 2008 9:24 am

floridafun wrote:cincy and ltr---have you called bushco yet to set up a look-see at your property...might be oil there!

never been any nasty oil spills on americas shores? and what was the damage and the costs? or worth it in your opinion? i think its not gonna fly.
So we should just do away with oil right now because there have been accidents? Of course there have been spills and accidents. That's what happens with PROGRESS. Should we have not built the Hoover Dam for fear that someone might get hurt? Should we have stopped space exploration after Buzz Aldrin and others died in accidents? Should we have done away with Ted Kennedy because someone died in his car? (okay, maybe on that one). Should we all just go back to walking around place to place and forsake modern and future transportation because you know there will probably be accidents and damages, and is it really worth it? Would that make you happy FF?
Cincy Fan 44
Cincy Fan 44
Jedi Council Member
Jedi Council Member

Male
Number of posts : 4852
Location : Wherever you can gird your loins

http://www.whodeyrevolution.com

Back to top Go down

Oil Prices Retreat Empty Re: Oil Prices Retreat

Post  Markwes Thu Jul 17, 2008 9:34 am

I heard gas is $3.91 in Van Wert but still $4.19 or so here. I wonder if our governor Danielsco is looking into why there is such a difference. Hopefully, Obamaco or McCainco can do something on a national level.
Markwes
Markwes
Jedi Master
Jedi Master

Male
Number of posts : 3096
Age : 59
Location : asylum

Back to top Go down

Oil Prices Retreat Empty Re: Oil Prices Retreat

Post  Cincy Fan 44 Thu Jul 17, 2008 9:37 am

Markwes wrote:I heard gas is $3.91 in Van Wert but still $4.19 or so here. I wonder if our governor Danielsco is looking into why there is such a difference. Hopefully, Obamaco or McCainco can do something on a national level.
That's a good point Markwesco! Gas prices here in Indianaco need to come down. Prontoco!
Cincy Fan 44
Cincy Fan 44
Jedi Council Member
Jedi Council Member

Male
Number of posts : 4852
Location : Wherever you can gird your loins

http://www.whodeyrevolution.com

Back to top Go down

Oil Prices Retreat Empty Re: Oil Prices Retreat

Post  LTRT Thu Jul 17, 2008 12:19 pm

CincyFanco and Markwesco, FF has reallyco gottenco toco youco hasn'tco sheco? affraid Laughing
LTRT
LTRT
Jedi Master
Jedi Master

Male
Number of posts : 3456

Back to top Go down

Oil Prices Retreat Empty Re: Oil Prices Retreat

Post  Guest Thu Jul 17, 2008 4:17 pm

Oil is down over $15 since Tuesday.... anyone seen a drop at the pump?
Anonymous
Guest
Guest


Back to top Go down

Oil Prices Retreat Empty Re: Oil Prices Retreat

Post  Cincy Fan 44 Thu Jul 17, 2008 4:30 pm

cardinal5150 wrote:Oil is down over $15 since Tuesday.... anyone seen a drop at the pump?
Negative. They probably are rationalizing by saying, "Well, the cost of a barrel of oil was higher when we made this particular batch of gas, so that's going to be the price...and you won't see an ease at the pump for another 2-3 weeks." Pure speculation on my part.
Cincy Fan 44
Cincy Fan 44
Jedi Council Member
Jedi Council Member

Male
Number of posts : 4852
Location : Wherever you can gird your loins

http://www.whodeyrevolution.com

Back to top Go down

Oil Prices Retreat Empty Re: Oil Prices Retreat

Post  Cincy Fan 44 Thu Jul 17, 2008 4:34 pm

And at last check the stock market was up a little over 170 pts...
Cincy Fan 44
Cincy Fan 44
Jedi Council Member
Jedi Council Member

Male
Number of posts : 4852
Location : Wherever you can gird your loins

http://www.whodeyrevolution.com

Back to top Go down

Oil Prices Retreat Empty Re: Oil Prices Retreat

Post  Guest Thu Jul 17, 2008 4:48 pm

Cincy Fan 44 wrote:
floridafun wrote:cincy and ltr---have you called bushco yet to set up a look-see at your property...might be oil there!

never been any nasty oil spills on americas shores? and what was the damage and the costs? or worth it in your opinion? i think its not gonna fly.
So we should just do away with oil right now because there have been accidents? Of course there have been spills and accidents. That's what happens with PROGRESS. Should we have not built the Hoover Dam for fear that someone might get hurt? Should we have stopped space exploration after Buzz Aldrin and others died in accidents? Should we have done away with Ted Kennedy because someone died in his car? (okay, maybe on that one). Should we all just go back to walking around place to place and forsake modern and future transportation because you know there will probably be accidents and damages, and is it really worth it? Would that make you happy FF?

Not any more than we should just let drunken sea captains crash tankers in Alaska in the name of PROGRESS. This type of argument doesn't get anywhere...
Anonymous
Guest
Guest


Back to top Go down

Oil Prices Retreat Empty Re: Oil Prices Retreat

Post  Markwes Thu Jul 17, 2008 5:01 pm

pez wrote:Not any more than we should just let drunken sea captains crash tankers in Alaska in the name of PROGRESS. This type of argument doesn't get anywhere...
And why is that? Sounds like you think drunken sea captains are the norm. I assume you are referencing the Exxon Valdez. It was the biggest oil spill in history, and yet it only accounted for 2% of what the United States consumes in one day, per the NOAA's website. So you've seen a few pictures of oil-covered ducks struggling and because of that you think we should quit drilling offshore?
Markwes
Markwes
Jedi Master
Jedi Master

Male
Number of posts : 3096
Age : 59
Location : asylum

Back to top Go down

Oil Prices Retreat Empty Re: Oil Prices Retreat

Post  Canuck Thu Jul 17, 2008 5:02 pm

Canuck
Canuck
Jedi Padawan
Jedi Padawan

Male
Number of posts : 1717
Location : Kanaduh

Back to top Go down

Oil Prices Retreat Empty Re: Oil Prices Retreat

Post  Sponsored content


Sponsored content


Back to top Go down

Page 1 of 3 1, 2, 3  Next

Back to top

- Similar topics

 
Permissions in this forum:
You cannot reply to topics in this forum