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Oil Plunges

Discussion in 'Off Topic Threads' started by wireguy, May 5, 2011.

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  1. wireguy

    wireguy TS Member

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    http://www.foxbusiness.com/markets/2011/05/05/oil-plunges-demand-concerns-dollar-strength/
     
  2. JACK

    JACK Well-Known Member Supporting Vendor

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    Ah, good. I'll leave the chevy Volt int the garage and take my SUV to shootin this veek

    Oil cartels can read the tea leaves. They see that the modest expansions in their customers economies are grinding to a standstill if not a halt and beginning of yet another recession.

    What we really need now is more Keynesian money pumping to keep us going


    Barack... Get the big pen out again.

    (Oh, that's right... He is still on his OBL victory lap)
     
  3. Setterman

    Setterman Well-Known Member

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    The speculators saw the first quarter economy and jobs report, and can now see we are not in a job recovery. Gasoline usage will decrease, not increase.

    Supply/demand.
     
  4. handlepuller

    handlepuller Well-Known Member

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    I guess that's what happens when there was no legit reason for the increase in the first place.

    Let's hope it continues.
     
  5. R.Kipling

    R.Kipling Well-Known Member

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    This crap reminds me of the old joke about the three-legged pig......... "you wouldn't eat a pig that good, all at once..."

    Kip
     
  6. JACK

    JACK Well-Known Member Supporting Vendor

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    Handlepuller. Read the above. You need to get out more. The bright lights and rubber gloves mean little in oil prices.

    BTW. See you soon. I'll be shooting Owatonna and Forest Lake. Beaver Brook Saturday.
     
  7. Dr. Honk

    Dr. Honk Member

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    WOW. I just check the price of gas at the corner store. It went down a whole $0.02. BFD.

    Dr. Honk
     
  8. TOOLMAKER 251

    TOOLMAKER 251 Active Member

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    Only the consumer of fuels eventually control the prices. Right now there is a sharp decline in gasoline purchases due the high cost and this decline backs up all the way to the faucets in the ground. If the American fuel consumers had unity they could avoid price spikes like we recently have. As much as we rely on foreign crude, they also rely on our money.
     
  9. halfmile

    halfmile Well-Known Member

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    Go bomb yet another oil producing country and watch what happens to your gasoline prices.

    It's just simple cause and effect at work.

    HM
     
  10. TOOLMAKER 251

    TOOLMAKER 251 Active Member

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    I just looked a CNN business on the net and crude is back on the rise again. Yesterday the dow closed at about -135 points due to unemployment figures coming in showing the rate being close to 9% Today the report is "jobs on the rise" and oil is climbing. I guess everybody was recalled back to work, and are also working the weekend. So who is responsible for sudden price increase in crude by several dollars a barrel?
     
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