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Oil per barrel down

Old 08-08-2011, 06:05 PM
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Default Oil per barrel down

Why have I been seeing that oil per barrel drop to about $78 and the gas per gal not drop at the pump a few weeks ago gas was at 3.70 ish at around 95 to 98 a barrel but now that it's at 78 and gas prices are still around the 3.60 to 3.70 mark, it just seems kind of strange to me, but hell I guess it could just be one of them thing of them things I am not ment to understand
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Old 08-08-2011, 06:11 PM
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Originally Posted by beh11685 View Post
Why have I been seeing that oil per barrel drop to about $78 and the gas per gal not drop at the pump a few weeks ago gas was at 3.70 ish at around 95 to 98 a barrel but now that it's at 78 and gas prices are still around the 3.60 to 3.70 mark, it just seems kind of strange to me, but hell I guess it could just be one of them thing of them things I am not ment to understand
Annoying isnt it.
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Old 08-08-2011, 06:14 PM
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Gas is now at $3.35 around me and as low as $3.29 in my greater area.
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Old 08-08-2011, 06:22 PM
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I saw 4 ish at $114. Now its 80/bbl and fuel is 3.79/gal.
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Old 08-08-2011, 06:25 PM
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There's a lag time but only when prices are falling.

I read somewhere recently that a lot of speculators (ie market manipulators) have exited the oil markets. What we are seeing now is price set by true supply and demand.


On a different front, be prepared for anything containing aluminum to go artificially high for the next wave of market manipulation. GS is buying up/leasing warehouses and hording aluminum. Some stupid/bought law allows them to hold back a percentage of what they take in. I forgot the numbers but they are netting/hoarding 40% of everything they touch, thereby creating their own artificial shortage.

We are supposed to have free markets, they are anything but.
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Old 08-08-2011, 06:37 PM
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Guess we finally got BP out of hock for the damn oil spill, told everyone LAST year this is what would happen. We, The American Public, would PAY FOR THAT OIL SPILL and they would blame it on a Hurricane, supply disruption, Lybia's shit, or Obama or somebody in Washington DC has gas that week.

One of the big brokerage firms is already saying it will hit 130 barrel next year because that is where THEY think it should be, grease up they will get us again

Then they wonder what is wrong with the damn economy
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Old 08-08-2011, 06:45 PM
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Then they wonder what is wrong with the damn economy [/quote]


Exactly
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Old 08-08-2011, 08:14 PM
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i still feel like everything that is going on in the crude oil buss. is nothing but greed, and as far as our goverment well my vote will go for Trump if he runs, what we need is a buss man that looks at the bottem line, i still say the hell with income tax and just up the tax on retail products, EVERBODY will pay taxes then
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Old 08-08-2011, 09:04 PM
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Just remember that all those high paid "experts" don't know crap. One in 10 actually has his prediction come right.

T.Boon Pickens said we'd be at $200/barrel a long time ago.
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Old 08-09-2011, 04:15 AM
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If you really think oil will hit $130 then BUY NOW.

I think it is a silly proposition but if you want to chase windmills, have at it.
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Old 08-09-2011, 05:18 AM
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Originally Posted by John_Madison CT View Post
It reminds me of an old joke:


A guy walks into a new job. . . . . . ."

One of my all time favorites - I tell it often at work because it is sooooooo true.
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Old 08-09-2011, 05:47 AM
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Originally Posted by baypro21 View Post
... What we are seeing now is price set by true supply and demand....
Have to disagree baypro. This is NOT speculation but devaluation of our dollar and money hungry oil companies...last part sounds better at least. I'll bet if the oil companies were to slash the price per gallon by a dollar we see more spending by consumers.
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Old 08-09-2011, 07:16 AM
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Originally Posted by John_Madison CT View Post
T.Boon Pickens said we'd be at $200/barrel a long time ago.
Yea, but he was just trying to push his natural gas agenda.
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Old 08-09-2011, 07:21 AM
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Originally Posted by baypro21 View Post
There's a lag time but only when prices are falling.

I read somewhere recently that a lot of speculators (ie market manipulators) have exited the oil markets. What we are seeing now is price set by true supply and demand.


On a different front, be prepared for anything containing aluminum to go artificially high for the next wave of market manipulation. GS is buying up/leasing warehouses and hording aluminum. Some stupid/bought law allows them to hold back a percentage of what they take in. I forgot the numbers but they are netting/hoarding 40% of everything they touch, thereby creating their own artificial shortage.

We are supposed to have free markets, they are anything but.
GS Warehousing scheme is nothing new, the only thing new is someone has finally caught on to it. GS has been doing it for YEARS. Back when I worked there, the warehousing gig was a running joke how simple it was, yet how rich it was.
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Old 08-09-2011, 08:27 AM
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Originally Posted by swifty View Post
Have to disagree baypro. This is NOT speculation but devaluation of our dollar and money hungry oil companies...last part sounds better at least. I'll bet if the oil companies were to slash the price per gallon by a dollar we see more spending by consumers.
Makes you wonder how they can manipulate the economy when all this effort is going into keeping it afloat.
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Old 08-09-2011, 08:33 AM
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Producers are not setting any price the commodity market sets the bid and ask and it is traded in US Dollars. The cost of production does not have any effect on the market just the bottom line for the producer.
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Old 08-09-2011, 08:35 AM
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Keep in mind oil dumped almost 20 dollars a barrel in less then 5 days of trading, and half of that was yesterday and last night. That kind of fall will not be seen at the pumps over night.

And this fall has nothing to do with supply or demand it is still all the speculators and day traders.
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Old 08-09-2011, 11:25 AM
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by what i am seeing today it seems that the market is just floating around, and this might just be me but i feel like the news channls aren't making things any better for the public with the stock market falling
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Old 08-09-2011, 02:56 PM
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It does take some time to see a drop ar the pumps given the supply out there was bought at a higher price (theoretically). Oddly it goes up pretty damn quickly when there is an event anywhere near an oil field or oil producing country.
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Old 08-09-2011, 03:05 PM
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It's amazing how a declining global economy can lower the cost of gas.
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