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OIL getting crushed today.

Old 05-05-2011, 07:56 AM
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Default OIL getting crushed today.

bout time.
Old 05-05-2011, 07:58 AM
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Why....what are they telling us for a reason?
Old 05-05-2011, 08:11 AM
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A few dollars up and down in the future market will not make a penny's worth at the pump.
Old 05-05-2011, 08:21 AM
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Whoa we may break south $100.

Fingers crossed.
Old 05-05-2011, 09:03 AM
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It'll be back at $110 tomorrow. They'll think of something.
Old 05-05-2011, 09:06 AM
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I hope some speculators get their arse handed to them!
Old 05-05-2011, 09:11 AM
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Currently down about $7/bbl. Abt 0.13/gallon at the pump.

Fill your tanks, long term oil is still going up. Too much demand from India and China.
Old 05-05-2011, 09:22 AM
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Originally Posted by Pierless View Post
Currently down about $7/bbl. Abt 0.13/gallon at the pump.

Fill your tanks, long term oil is still going up. Too much demand from India and China.
Well then--why aren't we drillin and sellin to them?
Old 05-05-2011, 09:29 AM
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Originally Posted by paulyjsob View Post
It'll be back at $110 tomorrow. They'll think of something.
Yea, Osama's body will float to the surface;?
Old 05-05-2011, 09:59 AM
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India and China can't consume at 150 bbl. They will manufacture commodities from oil but they will not be the consumers....we will and if we can't afford 150bbl then neither can the rest of the world.

Stocks are set to crash down to 8-9k and take oil with it down to 70 bbl.

This from Keith-stodomus
Old 05-05-2011, 10:28 AM
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Originally Posted by Keith B View Post
India and China can't consume at 150 bbl. They will manufacture commodities from oil but they will not be the consumers....we will and if we can't afford 150bbl then neither can the rest of the world.

Stocks are set to crash down to 8-9k and take oil with it down to 70 bbl.

This from Keith-stodomus

Go away in May
Old 05-05-2011, 10:29 AM
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Originally Posted by Capt.Willie View Post
Well then--why aren't we drillin and sellin to them?
Think of it as a long term savings bond.
Old 05-05-2011, 11:23 AM
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BP ran the numbers and they realized we have now paid for their screw up last summer so time to let it back down before the fragile economy takes a hard nose dive. They will wait on a few storms this fall to screw us again

Just my humble opinion

I will say this, even with the price of gas where it is I do not notice people not purchasing it and as long as we pay for it and do not cut back the old supply and demand theory will keep it where it is

Was told years ago they, oil companies, wanted us to pay $2.50-3.00 gallon and be happy about it. At this point $2.50 gallon would make me happy and I hate to admit that

I do realize it has been very low for years but I think last time it was such a big jump that shut the economy down and this time it has not gone up as sharp even though we are at $4 gallon but once people start cutting back it is hard to get them to spend money and in our economy if we are not spending money it hurts EVERYTHING
Old 05-05-2011, 12:10 PM
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Wow. Down 10%.. Oil is below $100/B again.
Old 05-05-2011, 12:15 PM
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Originally Posted by Pierless View Post
Currently down about $7/bbl. Abt 0.13/gallon at the pump.

Fill your tanks, long term oil is still going up. Too much demand from India and China.
I don't buy that anymore.
Old 05-05-2011, 12:26 PM
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China is a huge bubble waiting to burst. It might not happen this year but soon. YOu can't keep building cities that go unoccupied. I read an article a month ago saying that good Chinese labor was getting harder and harder to find. Average time on the job for most 20something Chinese was less than a year till they leave and look for something else. Firms are staring to pull out and go to other Asian countries because of lack of decent labor pool.

Between this/float of the yuan and what they have done to their environment its only a matter of time.

Silver down huge again today, just broke $35 a few min ago.

Bottom line $112/bbl oil isn't good for anybody. The world economies are to intermingled. The increasing strength of the dollar will help us for the rest of the year
Old 05-05-2011, 12:32 PM
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Originally Posted by bjm9818 View Post
Bottom line $112/bbl oil isn't good for anybody. The world economies are to intermingled. The increasing strength of the dollar will help us for the rest of the year
I agree, I think the "powers that be" were starting to get nervous
Old 05-05-2011, 12:33 PM
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Originally Posted by bjm9818 View Post
China is a huge bubble waiting to burst. It might not happen this year but soon. YOu can't keep building cities that go unoccupied.
China is more propped up than us. Sorry propped-up. It is an empty shell as is communism. (Now that is a circular statement C.Edmund)
Old 05-05-2011, 12:46 PM
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The higher it goes the bigger the fall, and 10 bucks in one day is pretty big.
Old 05-05-2011, 01:11 PM
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drops 10 bucks and goes up 10 cents in my town.....

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