Falling oil prices...

[roadbratt]

I just noticed this on money.cnn.com..

"If the dollar continues to strengthen and the political situation [with Iran] improves, then the long-term prices will be about 78 dollars (a barrel)," said Khelil, according to reports.

http://money.cnn.com/2008/07/29/markets/oil/index.htm?postversion=2008072909

Cheap oil could be possible... what do you guys think?


op:

 

[coolcobramatt]

let's hope, but I dont see the oil companies ever letting it fall back to a decent level. They are too concerned with making sure the next 10 generations of their family are millionaires.

 

[cthunder]

let's hope, but I dont see the oil companies ever letting it fall back to a decent level. They are too concerned with making sure the next 10 generations of their family are millionaires.

The Kings/Princes/Presidents over in the middle east are far to wealthy to even care what oil prices are... The barrel prices that the oil companies buy from the middle east are public record, they cannot stop this. They cannot hide a markup in any way.

 

[roadbratt]

let's hope, but I dont see the oil companies ever letting it fall back to a decent level. They are too concerned with making sure the next 10 generations of their family are millionaires.

Yeah I agree. Hopefully our new President will have a positive affect on this situation.

 

[bleedingfordblu]

let's hope, but I dont see the oil companies ever letting it fall back to a decent level. They are too concerned with making sure the next 10 generations of their family are millionaires.

as f%*&#ing true as it is thats made me chuckle

 

[doczg]

We need to drop oil prices by drilling for our own. However, we need shoot Nancy Pilosi for this to happen. Im sure you could walk around and collect enough money from random people to pay the hitman.

 

[jshen]

Gas prices might decline for a short while...but with every hurricane, issue with Iran, etc. prices will go back up. I doubt we will see last years' prices again.

 

[F1reStart3r]

it only mentioned once that demand is going down. people in the US simply aren't driving as much. at first it wasn't a big deal but now it's cutting into family savings etc and the penny pinching is on!

 

[timpryor]

We need to drop oil prices by drilling for our own. However, we need shoot Nancy Pilosi for this to happen. Im sure you could walk around and collect enough money from random people to pay the hitman.

Shit, I "know" someone who will do it for free

 

[supachargd2k5]

I'm loving it, keep going down.

 

[NewFoundPower]

Yeah I agree. Hopefully our new President will have a positive affect on this situation.

I highly doubt our new president will be able to have any effect.

 

[doczg]

Shit, I "know" someone who will do it for free

Then its your job to save the US....make the call

 

[swoosh_stang]

The Kings/Princes/Presidents over in the middle east are far to wealthy to even care what oil prices are... The barrel prices that the oil companies buy from the middle east are public record, they cannot stop this. They cannot hide a markup in any way.

There is something to this, and since most of their wealth is in American dollars, they have more to gain, I think, from a strong dollar than from increasing oil prices.

 

[NO-BlkLightning2K]

sweet. that translates to around 2.30 a gallon, yes?

 

[ScareCrow]

I'll believe it when I see it. I dont understand when some get happy when gas drops $.20 a gallon , but for some reason forget that it has gone up well over a $1 in the last year.

 

[Klay]

I'll believe it when I see it. I dont understand when some get happy when gas drops $.20 a gallon , but for some reason forget that it has gone up well over a $1 in the last year.

While gas has risen overall, I am happy when it lowers $0.20 because that means it isn't RISING indefinately. The news media makes claims like a barrel of oil will hit $500 within a year. Doesn't seem likely when gas actually starts decreasing when it hit a high of $150 something per barrel.

 

[NO-BlkLightning2K]

I'll believe it when I see it. I dont understand when some get happy when gas drops $.20 a gallon , but for some reason forget that it has gone up well over a $1 in the last year.

50 cent drop in the last week here. btw, gas has increased about 2 dollars in the last year, not counting this recent trend.

 

[astrocreep96]

Prices would have been $78 a barrel quite awhile ago if our politicians had taken the necessary steps to reign in speculation. There was absolutely no good reason for the oil prices to be as high as they were.

 

[9A Pilot]

Prices would have been $78 a barrel quite awhile ago if our politicians had taken the necessary steps to reign in speculation. There was absolutely no good reason for the oil prices to be as high as they were.

Speculators speculate becuse that's capitalism..
In oil's case..Supply & mother****in demand drives specualtion..The speculation that the rest of the worlds population wants to drive a car & that 'envirnmentalists' will continue to block access to proven oil reserves/Nuclear..Since they are enabled by the likes of Nancy Pelosi & the democrat party as a whole..
This oil sell off,coincidentally or other wise, began when W lifted the executive ban on off-shore drilling on the east & west coast..

 

[astrocreep96]

Speculators speculate becuse that's capitalism..
In oil's case..Supply & mother****in demand drives specualtion..The speculation that the rest of the worlds population wants to drive a car & that 'envirnmentalists' will continue to block access to proven oil reserves/Nuclear..Since they are enabled by the likes of Nancy Pelosi & the democrat party as a whole..
This oil sell off,coincidentally or other wise, began when W lifted the executive ban on off-shore drilling on the east & west coast..

Bwahahahahahaha. Fail.

Speculators speculate because they trade on non-US exchanges to skirt US regulations despite having corporate HQ in the US. They speculate because of the Enron loophole. They speculate because of SEC no-action letters. They speculate because they have a veritable monopoly on the market.

Supply and mother****in demand my ass. Supply and demand doesn't expalain the astronomical increase in gas prices depsite the decrease in usage not seen in 17 years. Supply and demand doesn't explain the exponential increase in oil prices despite a more-or-less constant demand worldwide. Nor does supply and demand explain the increase in gas prices earlier this year despite refineries having a surplus of gasoline sitting around and having to change production focus. In fact, supply and demand doesn't explain the recent dropoff in oil prices after Bush announced the off-shore drilling because there has to be a foreseeable change in, dur...supply or demand.

Good god, what fail.