oil down to 39.85

rob_just_rob

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we'll see tomorrow how it plays out. they say the dollar is so low oil is going to keep droping.

Which doesn't make sense - since oil is mostly priced in US$, if the dollar drops, the price of oil should rise, all things being equal.

Which suggests that the perceived lack of future demand is having more of an effect than the production cut and the dollar weakness. Not exactly a good sign.
 

B_Nick4444

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you will see a range of prices

I was listening to some analysts a few months ago, when oil was well over a hundred USD discussing their projections for oil to be under 40USD/barrel
 

vince

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Which doesn't make sense - since oil is mostly priced in US$, if the dollar drops, the price of oil should rise, all things being equal.

Which suggests that the perceived lack of future demand is having more of an effect than the production cut and the dollar weakness. Not exactly a good sign.
All things being equal, oil prices should rise in terms of US dollars, but not in the currencies the dollar is falling against. i.e. the Yen and the Euro.

I paid as low as 1.75$ per gallon when I was in the states (FL) two weeks ago. Has it come down since then?

Isn't there a downside to low oil prices in that there is less incentive to develop alternative energy sources? The new technologies are expensive to develop and bring on stream. Plus low prices encourage more consumption of a finite and polluting resource.

Although I guess it could be a boon for the automakers. Perhaps it will help them move some of those huge gas guzzlers off the lots.
 

vince

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95 octane (the lowest here and without that shitty ethanol you guys use) has gone down from 11.00 to 7.05$ per gallon. Yea!! :rolleyes:
 

vince

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You meant to tell me that "Drill Baby Drill!" was not the cause of the drop in oil prices?
damn well was... Them A-rabs prolly heard Sarah all the way over there in Saudiarabya and it scared'em into dropping the price I bet ya by golly!



damn libtards
 

kalipygian

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If was looking for an investment, I might look into buying oil futures, when it was high, some experts said the supply/demand price for it should have been around $70. That is probably still the case.

At the pump prices haven't dropped as much here, for some reason. It is refined within the state, so don't know why it has been slower to come down. I paid $2.30 last fillup for gas. Diesel was still over $4.

It means 4-5 billion less revenue for the state govt here, but not a deficit. There is plenty in savings.

I was buying some silver coins last spring when it was up to $17., and they were lagging behind the bullion price. I see it is now around $11.,and gold is down also, it looked like it was going to break $1,000.
 

B_Nick4444

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