CRUDE CLOSES BELOW $70 A BARREL, MORE THAN 50% OFF RECORD HIGH IN JULY
Crude futures close at a 14-month low below $70
SAN FRANCISCO (MarketWatch) -- November crude closed at $69.85 per barrel Thursday on the New York Mercantile Exchange, down $4.69, or 6.3%. It was the weakest closing level for a front-month contract on Nymex since Aug. 23, 2007, as traders continued to show concerns over a slowdown in oil demand and rising U.S. crude supplies.
FUCK those OPECer FUCKERS!!!
To remove first post, remove entire topic.
CRUDE CLOSES BELOW $70 A BARREL, MORE THAN 50% OFF RECORD HIGH IN JULY
Crude futures close at a 14-month low below $70
SAN FRANCISCO (MarketWatch) -- November crude closed at $69.85 per barrel Thursday on the New York Mercantile Exchange, down $4.69, or 6.3%. It was the weakest closing level for a front-month contract on Nymex since Aug. 23, 2007, as traders continued to show concerns over a slowdown in oil demand and rising U.S. crude supplies.
Based on wholesale unleaded prices today of 1.65, that should put retail prices including taxes at around 2.20 to 2.25, maybe 2.30 but these suckers are holding onto 3 in my area pretty heavy.
Yep but they keep holding gas prices up up up.
Based on wholesale unleaded prices today of 1.65, that should put retail prices including taxes at around 2.20 to 2.25, maybe 2.30 but these suckers are holding onto 3 in my area pretty heavy.
Just went under $3 in my neck of the woods this morning.
Do anyone see CNN this morning with the Iraqi oil minister saying that a fair price of oil was 100/barell. Funny, I didn't see him out there when oil almost hit 150. What a joke.
Of course, he is associated with OPEC that said back in the late 90's early 00's that they would make sure oil never popped over $40. What a bunch of clowns.
Just went under $3 in my neck of the woods this morning.
Do anyone see CNN this morning with the Iraqi oil minister saying that a fair price of oil was 100/barell. Funny, I didn't see him out there when oil almost hit 150. What a joke.
Of course, he is associated with OPEC that said back in the late 90's early 00's that they would make sure oil never popped over $40. What a bunch of clowns.
under the heading of "couldn't happen to a nicer group of motherfuckers...."
"But there's also been a rush of roving capital out of the market. According to the latest data from Hedge Fund Research, third-quarter hedge fund redemptions hit a record-high $210 billion, spearheading an exodus wealth that burst one of the biggest commodities bubbles of all time.
It's no coincidence that oil prices plunged in tandem with these record withdrawals, exposing for all to see just how much of the summer's oil-price spike was driven by speculators.
While oil's deep "correction" alarms Big Oil, it's even more alarming to producing nations whose economies are entirely grounded in petro-dollars."
from MarketWatch.com Sunday Oct 19th......
OPEC left to its own devices
Commentary: Hedge fund redemptions lay bare the role in oil speculation
under the heading of "couldn't happen to a nicer group of motherfuckers...."
"But there's also been a rush of roving capital out of the market. According to the latest data from Hedge Fund Research, third-quarter hedge fund redemptions hit a record-high $210 billion, spearheading an exodus wealth that burst one of the biggest commodities bubbles of all time.
It's no coincidence that oil prices plunged in tandem with these record withdrawals, exposing for all to see just how much of the summer's oil-price spike was driven by speculators.
While oil's deep "correction" alarms Big Oil, it's even more alarming to producing nations whose economies are entirely grounded in petro-dollars."
While personally I agree with you regarding OPEC, I have always been amused at the beautiful irrationality of Big Oil critics.They have remained irrational for 30 years and I expect continued amusement from the same group of credulous clowns.
Their convenient theory postulated that when oil goes up in price, the Masters of the Universe in Houston/Dallas are of course the cause.
Now, when oil prices go down, you will hear this cant:it is all a giant plot by, you guessed it, Big Oil, to keep us enslaved to (now) cheap oil
Nothing like having your cake and eating it too, and the bonus is is relieves any notion of mass stupidity of the SUV piloting oafs of the past 15 years, who no doubt had been held at gunpoint to buy that piece of shit Ford Expedition to drive their driveling idiot son or daughter to soccer practice instead of to library, where they might, by accident learn something.
Rink
While personally I agree with you regarding OPEC, I have always been amused at the beautiful irrationality of Big Oil critics.They have remained irrational for 30 years and I expect continued amusement from the same group of credulous clowns.
Their convenient theory postulated that when oil goes up in price, the Masters of the Universe in Houston/Dallas are of course the cause.
Now, when oil prices go down, you will hear this cant:it is all a giant plot by, you guessed it, Big Oil, to keep us enslaved to (now) cheap oil
Nothing like having your cake and eating it too, and the bonus is is relieves any notion of mass stupidity of the SUV piloting oafs of the past 15 years, who no doubt had been held at gunpoint to buy that piece of shit Ford Expedition to drive their driveling idiot son or daughter to soccer practice instead of to library, where they might, by accident learn something.
Paid a $1.77 with a local grocer's fuel savings program.
Clearly in the pay of Lucifer, Big Oil...
Get ready to buy a crappily made tank from Hummer or Ford, and save the latter from bankruptcy!!!!!!!!
Oh and cash out of your 401 k, your IRa, and any mutual fund you own, cause hey they invest in the Demon who make you push your head up your own ass America!!!
Paid a $1.77 with a local grocer's fuel savings program.
Clearly in the pay of Lucifer, Big Oil...
Get ready to buy a crappily made tank from Hummer or Ford, and save the latter from bankruptcy!!!!!!!!
Oh and cash out of your 401 k, your IRa, and any mutual fund you own, cause hey they invest in the Demon who make you push your head up your own ass America!!!
actually, vermeer, I flew corporate for a "seven sisters" oil company back in the 1970's and I can assure you that they DID jack fuck the price back then. we would hear the bosses laughing about it. they actually put the Arabs UP to the "embargo". iat that time, we had enough oil to BUST them BUT they didn't because THEIR oil in the ground holdings increased five fold.
and I STILL don't TRUST those FUCKING FUCKERS
actually, vermeer, I flew corporate for a "seven sisters" oil company back in the 1970's and I can assure you that they DID jack fuck the price back then. we would hear the bosses laughing about it. they actually put the Arabs UP to the "embargo". iat that time, we had enough oil to BUST them BUT they didn't because THEIR oil in the ground holdings increased five fold.
Uh I don't trust much of anyone Rink, but one thing I definitely trust is the American public's ability to blame everyone but themselves.
I am quite sure the aholes tooling around (even now) in SUVs think they are entitled to getting 8 mpg. And they are entitled, to all the pain that can be inflicted on their arrogance and stupidity.
Uh I don't trust much of anyone Rink, but one thing I definitely trust is the American public's ability to blame everyone but themselves.
I am quite sure the aholes tooling around (even now) in SUVs think they are entitled to getting 8 mpg. And they are entitled, to all the pain that can be inflicted on their arrogance and stupidity.
For what it's worth, I am paying 165 yen per liter for regular unleaded gas here in Tokyo, Japan. And these prices have come down in recent weeks. This time last year I was paying 136 yen per liter.
1 us gallon = 3.785 liters = 625 yen = $6.15
waaaaaah
For what it's worth, I am paying 165 yen per liter for regular unleaded gas here in Tokyo, Japan. And these prices have come down in recent weeks. This time last year I was paying 136 yen per liter.
waaaaaah
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