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  #1  
Old 05-07-2012, 06:28 AM
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Oil Prices Are Dropping

Gas has dropped again. Average price according to CNN is now $3.77 gallon (at the pumps) from $4.08 last week. Light sweet crude futures for delivery in June traded down $1.24 at $97.25 a barrel during Asian hours in the New York Mercantile Exchange. Brent crude futures for delivery in June lost $0.81 to touch $112.37 in ICE Futures Exchange.

French and Greek election results raised doubts about those countries' commitment to the austerity measures to sort out Eurozone debt crisis and this is the main reason for oil prices.

Member nations of the Organization of the Petroleum Exporting Countries (OPEC) increased the oil supply by 2.3 million barrels per day, which helped push oil price down further. Saudi Arabia, the world's largest oil exporter, increased its production to a record high of 10 million barrels a day.

Let's hope this keeps going. These oil companies are showing 2 to 3 BILLION DOLLAR PROFITS FOR THE QUARTER!!!!!
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Last edited by Administrator : 05-07-2012 at 06:31 AM.
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  #2  
Old 05-07-2012, 07:50 AM
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FTC-SCAMS.COM FTC-SCAMS.COM is offline
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Re: Oil Prices Are Dropping

Interesting,

Oil prices always drop when the economy tanks, and we are on the edge of an economic cliff, so saving a few cents on gas is not going to reverse this declining economy. It is hardly going to save us from this continued deep recession, and now with France reverting to socialist control, God save the French, and it won't be Germany propping up the Euro any longer as was hoped. The collapse of world banks is inevitable as I see it. Enjoy the cheaper gas while world currencies collapse in value and drive prices back up.



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  #3  
Old 05-07-2012, 08:05 AM
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Re: Oil Prices Are Dropping

Quote:
Originally Posted by FTC-SCAMS.COM View Post
Interesting,

Oil prices always drop when the economy tanks, and we are on the edge of an economic cliff, so saving a few cents on gas is not going to reverse this declining economy. It is hardly going to save us from this continued deep recession, and now with France reverting to socialist control, God save the French, and it won't be Germany propping up the Euro any longer as was hoped. The collapse of world banks is inevitable as I see it. Enjoy the cheaper gas while world currencies collapse in value and drive prices back up.


Correct

Everyone loves the short term "evil greedy "when they drive the short term prices down

Too funny, but dont get too comfortable, oil prices will go higher as the inflationary depression rolls on

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  #4  
Old 05-07-2012, 05:38 PM
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Re: Oil Prices Are Dropping

Free market had an 8 year run during Bush and now Barack is trying to fix it.
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  #5  
Old 05-07-2012, 07:13 PM
lunchlady lunchlady is offline
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Re: Oil Prices Are Dropping

Funny how Warren Buffet shows up in ads on this page in his RECORD PROFITS and paying NO TAXES...

But its always the greedy oil companies.

GE and Immelt an OBAMA GUY, ship jobs overseas... and nary a word! Actuallly no word at all.

And according to MSNBC, CNN, CBS, the drop in OIL PRICES IS THE ECONOMY!

Vlad, obama trying to fix it?? BS, like the wars we are still in. Like he fixed that?? Gitmo, like he fixed that? How about the financial markets? Like he fixed them?

You have no answers just dem talking points!

Just like the dolt quoting we are drilling more oil. YAWN - talking point that is partly true but NOT!

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  #6  
Old 05-07-2012, 07:21 PM
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Re: Oil Prices Are Dropping

Quote:
Originally Posted by Administrator View Post
Free market had an 8 year run during Bush and now Barack is trying to fix it.


Nope.

and, yes he is trying, but sadly, he is making things much, much worse

Please stop Mr President, put down that socialist mop

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  #7  
Old 05-07-2012, 07:36 PM
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Re: Oil Prices Are Dropping

Quote:
Originally Posted by lunchlady View Post
Funny how Warren Buffet shows up in ads on this page in his RECORD PROFITS and paying NO TAXES...

But its always the greedy oil companies.
They are greedy. I'm in no way trying to bite the hand that feeds, but they make a loooot of money and a lot of them are hesitant to part with it. What they pay their employees in Texas are beans. Some of the largest ones (like Schlumberger and Halliburton) will start off their operators at $14/hr... in the oil industry that's freaking joke.

Quote:
GE and Immelt an OBAMA GUY, ship jobs overseas... and nary a word! Actuallly no word at all.
GE is involved in oil and is hiring a lot of Americans to work in their oil division...

Quote:
And according to MSNBC, CNN, CBS, the drop in OIL PRICES IS THE ECONOMY!
And?

Quote:
Vlad, obama trying to fix it?? BS, like the wars we are still in. Like he fixed that?? Gitmo, like he fixed that? How about the financial markets? Like he fixed them?

You have no answers just dem talking points!

Just like the dolt quoting we are drilling more oil. YAWN - talking point that is partly true but NOT!
Obama can't fix oil prices and to state that he should is recommending socialism. He has almost no control over the price of oil so I don't understand what he really has to do with this anyway.

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  #8  
Old 05-07-2012, 07:40 PM
lunchlady lunchlady is offline
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Re: Oil Prices Are Dropping

Quote:
Originally Posted by lisan23 View Post
They are greedy. I'm in no way trying to bite the hand that feeds, but they make a loooot of money and a lot of them are hesitant to part with it. What they pay their employees in Texas are beans. Some of the largest ones (like Schlumberger and Halliburton) will start off their operators at $14/hr... in the oil industry that's freaking joke.



GE is involved in oil and is hiring a lot of Americans to work in their oil division...



And?



Obama can't fix oil prices and to state that he should is recommending socialism. He has almost no control over the price of oil so I don't understand what he really has to do with this anyway.
He could "make something happen". He WON'T because of politics!

He is useless and a liar! Everyone bought the hope and change. Never happened.

CNN, MSNBC..... the gospel of liberals. Someone said the economy had nothing to do with oil prices.

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  #9  
Old 05-07-2012, 07:43 PM
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Re: Oil Prices Are Dropping

Quote:
Originally Posted by lunchlady View Post
He could "make something happen". He WON'T because of politics!
Like what? Seriously, I want to know.

Quote:
He is useless and a liar! Everyone bought the hope and change. Never happened.
Of course change happened, just because you don't like the change that did happen doesn't mean it didn't happen. If nothing had changed you wouldn't be whining nearly as much.

Quote:
CNN, MSNBC..... the gospel of liberals. Someone said the economy had nothing to do with oil prices.
I'm sure the economy effects the oil prices, as do a million other things. There's so many hands in that pot that the smallest things cause the price to fluctuate tremendously.

Oh, and I also don't have a gospel.

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  #10  
Old 05-07-2012, 07:45 PM
lunchlady lunchlady is offline
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Re: Oil Prices Are Dropping

Quote:
Originally Posted by willyjoe View Post
So much for your confidence in the free market, heh bub?
How is oil a FREE MARKET??

President stops a pipeline (political) wont extend oil leases in Alask (political).

EPA?????

Free market, who are you trying to kid?

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  #11  
Old 05-07-2012, 09:09 PM
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Re: Oil Prices Are Dropping

Quote:
Originally Posted by lunchlady View Post
How is oil a FREE MARKET??

President stops a pipeline (political) wont extend oil leases in Alask (political).

EPA?????

Free market, who are you trying to kid?
I don't think you understand what a free market is. A free market does not mean that you can do whatever is necessary to obtain a resource. A free market is one in which the price of a good is set by supply and demand. No one decides what the price of oil is. If you have a barrel of oil, you can sell it for whatever price you want.


The oil market is one of the best examples of a free market. It has a very deep and liquid futures market, huge demand and supply, and is traded around the world - in fact it's the most traded good in the world*.



*I'm sure there are lots of financial transactions with nominal values much, much higher than oil, but they are rarely fulfilled so don't really count.


Disclaimer: There actually are lots of forces other than supply and demand in the oil market, but the example in the quote above is not one of them.

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  #12  
Old 05-08-2012, 08:56 AM
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Re: Oil Prices Are Dropping

Quote:
Originally Posted by kazza View Post
I don't think you understand what a free market is. A free market does not mean that you can do whatever is necessary to obtain a resource. A free market is one in which the price of a good is set by supply and demand. No one decides what the price of oil is. If you have a barrel of oil, you can sell it for whatever price you want.


The oil market is one of the best examples of a free market. It has a very deep and liquid futures market, huge demand and supply, and is traded around the world - in fact it's the most traded good in the world*.



*I'm sure there are lots of financial transactions with nominal values much, much higher than oil, but they are rarely fulfilled so don't really count.


Disclaimer: There actually are lots of forces other than supply and demand in the oil market, but the example in the quote above is not one of them.


Destroy the worlds reserve currency, prices you pay at the pump rise

If we stop spending, shrink government, and raise interest rates, gas prices will be a buck a gallon fast

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  #13  
Old 05-08-2012, 11:33 AM
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Re: Oil Prices Are Dropping

Quote:
Originally Posted by iamwil View Post
Stop spending....aka bring the economy to a screaming halt.

shrink gov't....aka increase unemployment dramatically causing more outflow of unemployment and welfare checks and food stamps while decreasing people paying taxes.

Gas might be a buck a gallon...but the nobody will be able to afford it or even have internet service to read the gas in your posts.



Congress has tinkered with the debt ceiling, the statutory limit on amount of money the United States government is authorized to borrow to meet its legal obligations, a grand total of 78 times since 1960 - 49 times under Republican presidents and 29 times under Democratic presidents.
See also: Debt Ceiling History
In modern history, Ronald Reagan oversaw the largest number of debt ceiling increases, and George W. Bush approved a near doubling of the borrowing cap during his two terms in office.
Here's a look at the debt ceiling under modern U.S. presidents.

1. Debt Ceiling Under Obama

Alex Wong / Getty Images
The debt ceiling has been raised on three occasions under President Barack Obama. The debt ceiling was $11.315 trillion when the Democrat was sworn into office in January 2009 and increased by nearly $3 trillion or 26 percent by summer 2011, to $14.294 trillion.
See also: Did Obama Double the National Debt?
Under Obama the debt ceiling increased:
  • by $789 billion to $12.104 trillion in February 2009, Obama's first year in office, under the American Recovery and Reinvestment Act;
  • by $290 billion to $12.394 trillion ten months later, in December 2009;
  • and by $1.9 trillion to $14.294 trillion two months later, in February 2010.

2. Debt Ceiling Under Bush
The White House
The debt ceiling was raised on seven occasions during President George W. Bush's two terms in office, from $5.95 trillion in 2001 to nearly double that, $11.315 trillion, in 2009 - an increase of $5.365 trillion or 90 percent.
Under Bush the debt ceiling increased:
  • by $450 billion to $6.4 trillion in June 2002;
  • by $984 billion to $7.384 trillion 11 months later, in May 2003;
  • by $800 billion to $8.184 trillion 18 months later, in November 2004;
  • by $781 billion to $8.965 trillion 16 months later, in March 2006;
  • by $850 billion to $9.815 trillion 18 months later, in September 2007;
  • by $800 billion to $10.615 trillion 10 months later, in July 2008;
  • and by $700 billion to $11.315 trillion three months later, in October 2008.


3. Debt Ceiling Under Clinton

Getty Images
The debt ceiling was raised on four occasions during President Bill Clinton's two terms, from $4.145 trillion when he took office in 1993 to $5.95 trillion when he left the White House in 2001 - an increase of $1.805 trillion or 44 percent.
See also: National Debt Versus Federal Deficit
Under Clinton the debt ceiling increased:
  • by $225 billion to $4.37 trillion in April 1993;
  • by $530 billion to $4.9 trillion four months later, in August 1993;
  • by $600 billion to $5.5 trillion two years and seven months later, in March 1996;
  • and by $450 billion to $5.95 trillion 17 months later, in August 1997.


4. Debt Ceiling Under Bush

Bachrach / Getty Images
The debt ceiling was raised on four occasions during President George H.W. Bush's one term, from $2.8 trillion when he took office in 1989 to $4.145 trillion when he left the White House in 1993 - an increase of $1.345 trillion or 48 percent.
Under Bush the debt ceiling increased:
  • by $70 billion to $2.87 trillion in August 1989;
  • by $252.7 billion to $3.1227 trillion three months later, in November 1989;
  • by $107.3 billion to $3.23 trillion 11 months later, in October 1990;
  • and by $915 billion to $4.145 trillion one month later, in November 1990.


5. Debt Ceiling Under Reagan

Hulton Archive
The debt ceiling was raised on 17 occasions under President Ronald Reagan, nearly tripling from $935.1 billion to $2.8 trillion.
Under Reagan the debt ceiling was raised to:
  • $985 billion in February 1981;
  • $999.8 billion in September 1981;
  • $1.0798 trillion September 1981;
  • $1.1431 trillion in June 1982;
  • $1.2902 trillion in September 1982;
  • $1.389 trillion in May 1993;
  • $1.49 trillion in November 1983;
  • $1.52 trillion in May 1984;
  • $1.573 trillion in July 1984;
  • $1.8238 trillion in October 1984;
  • $1.9038 trillion in November 1985;
  • $2.0787 trillion in December 1985;
  • $2.111 trillion in August 1986;
  • $2.3 trillion in October 1986;
  • $2.32 trillion in July 1987;
  • $2.352 trillion in August 1987;
  • and $2.8 trillion in September 1987.


Bulls-h-i-t, and .......bulls-h-i-t



A bogus chart on Obama and the debt gets a new lease on life

http://www.washingtonpost.com/blogs/...0Y6K_blog.html

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  #14  
Old 05-08-2012, 03:35 PM
lunchlady lunchlady is offline
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Re: Oil Prices Are Dropping

Quote:
Originally Posted by iamwil View Post
a such a good little lemming....

don't read the stats...

don't see who continually raised the debt limit..

remember the fuss....

over the past 20 years of debt limit raises???????
You are right...lets keep borrowing money from China so we end up in a depression.

Don't slash govt to keep people employed. Even when these people are not needed.

Hmmm, that is COMMUNISM.

As for the debt ceiling, 9/11 made sure it went up under Bush. That is a fact and something most conservatives were not happy with.

What is Obama's excuse? Wasnt he supposed to stop corruption, cut wasteful spending?

How did the stimulus work out?

How about unemployment wont rise over 8%?

Lies all lies!

And you call conservatives lemmings? WOW!

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  #15  
Old 05-08-2012, 03:47 PM
naturefreak2101 naturefreak2101 is offline
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Re: Oil Prices Are Dropping

Quote:
Originally Posted by lunchlady View Post
You are right...lets keep borrowing money from China so we end up in a depression.

Don't slash govt to keep people employed. Even when these people are not needed.

Hmmm, that is COMMUNISM.

As for the debt ceiling, 9/11 made sure it went up under Bush. That is a fact and something most conservatives were not happy with.

What is Obama's excuse? Wasnt he supposed to stop corruption, cut wasteful spending?

How did the stimulus work out?

How about unemployment wont rise over 8%?

Lies all lies!

And you call conservatives lemmings? WOW!
Except what you just described isn't communism. Government employment has nothing to do with communism.

The internet really does turn people into idiots.

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  #16  
Old 05-08-2012, 04:23 PM
thistle thistle is offline
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Re: Oil Prices Are Dropping

Quote:
Originally Posted by naturefreak2101 View Post
Except what you just described isn't communism. Government employment has nothing to do with communism.

The internet really does turn people into idiots.
Nah, they just break cover on the internet!

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  #17  
Old 05-08-2012, 05:21 PM
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Re: Oil Prices Are Dropping

Quote:
Originally Posted by Gazza. View Post
I don't understand this fixation with fuel prices.

At $1.00 a gallon it costs $16.00 to fill the average tank.

At $3.80 a gallon it costs $60.00

The difference ($44.00) is the price of 8 packs of cigarettes or 2 bottles of a decent red.

Let's get it into perspective, shall we?

.
Bingo: Fuel prices are emotional prices - I don't know why.

If Fuel costs:
$3.80 X 16 Gallons =
$60 x 3 fill-ups a month = $180

If income is $4000 a month:
$180/$4000 = 4.5% of gross monthly income

At $4.50 a gallon: Fuel costs about 5.4% of gross monthly income.

About 0.9% of gross monthly income.

Hum...
Seems anything greater that a 1% or 2% increase in fuel cost to monthly income....
= Through the bastards out of office.

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  #18  
Old 05-08-2012, 05:26 PM
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Re: Oil Prices Are Dropping

Quote:
Originally Posted by lunchlady View Post
You are right...lets keep borrowing money from China so we end up in a depression.

Don't slash govt to keep people employed. Even when these people are not needed.

Hmmm, that is COMMUNISM.

As for the debt ceiling, 9/11 made sure it went up under Bush. That is a fact and something most conservatives were not happy with.

What is Obama's excuse? Wasnt he supposed to stop corruption, cut wasteful spending?

How did the stimulus work out?

How about unemployment wont rise over 8%?

Lies all lies!

And you call conservatives lemmings? WOW!
Chinese hold a smaller portion of our treasuries that most folks think.

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