Oil Slick Stuff

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To add..the Oil field co's are all working three shifts here..the Derek manufacturing co's are all tooled up and building dereks full bore...the country side looks like the 20s and 30's again..:)

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Chavez Says Venezuela Can Ride Out Oil Price Decline
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Xinhua News Agency Thursday, October 23, 2008

Venezuelan President Hugo Chavez said Wednesday that his nation could withstand the global financial crisis even if the oil price falls to $55 a barrel, Venezuela's national TV channel reported.

"Even if the oil price dropped to the level of 2007, which is $64.7, or the 2006 level of $55 per barrel, Venezuela will still be safe and not be affected by this financial crisis," Chavez said.

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Orinoco Heavy Oil Belt
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Chavez also denounced a media campaign against the nation's budget for 2009 and the dependency on the oil incomes.

"The budget for 2009 ... will reach 177.474 billion bolivars ($82.546 billion), with an increase of more than 20 percent," Chavez said.

On Tuesday, Economy and Finance Minister Ali Rodriguez Araque presented to lawmakers the Venezuelan budget for 2009, which was formulated based on an average oil price of 60 dollars per barrel.

Venezuela's oil basket closed at $68 a barrel last week, down from the historical record of $126.46 set in July.
http://www.rigzone.com/news/article.asp?a_id=68202
 
Oil dropped to $64.12 today.

RBOB gasoline on NYMEX down to $1.48.

Man, if that doesn't stroke some life into the economy soon, I am not sure what will.
 
OK folks- now I am starting to get concerned.

Gas price at $1.98 in Ok City.

What the heck is going on?

This market (gasoline, that is) is absolutely collapsing in upon itself. the price is falling so fast they can't even change the signpost before it drops again.

this is bad.

Very bad.

Consumers will be relieved, but the rest of the economy is going to take a hit- because the collapse in the market will have people walking away from drilling- and then, when the slack is all taken out, we'll get whipsawed the other way like you won't believe.

Is the entire U.S. economy really collapsing before our eyes?
 
James48843 said:
OK folks- now I am starting to get concerned.

Gas price at $1.98 in Ok City.

What the heck is going on?

This market (gasoline, that is) is absolutely collapsing in upon itself. the price is falling so fast they can't even change the signpost before it drops again.

this is bad.

Very bad.

Consumers will be relieved, but the rest of the economy is going to take a hit- because the collapse in the market will have people walking away from drilling- and then, when the slack is all taken out, we'll get whipsawed the other way like you won't believe.

Is the entire U.S. economy really collapsing before our eyes?
Click to expand...

I made a bet with a co-worker last week that gas will fall below $2 by Christmas. He said, "No Way!". I made the same bet with him about gas falling below $3., and he said, "No Way!":D

I invite all that the economy has to throw my way because it's "sick"... and needs to get it all out of its system before it begins to recover.

I'm focusing on the positives... that chance to go back into time and BUY LOW once we fall even lower!
 
I can see where Jim is coming from..but I think it is natural to be negative right now in light of everything else..I mean his Candidate will be be beat by McCain and his stock portfolio is sucking wind like the rest of us, etc..the reasons are endless, so no wonder..But I think on the bright side, as OKC is booming with the oil business once again..At $50 to $60/bbl, everyone can still profit and explores for more..that and across the board. Everyone that was cutting back, are now feeling a sigh of relief from high fuel costs..Truckers, airlines, everyone....and just in time for winter for the north folks like Jim that may rely on heating oil..You don't want Hugo filling your furnace tanks again this year do you?

So given time for the gears of everyday life to begin to spin again with cheaper fuel..the other parts of the economy will come back to life too, because people can spend a little more now on other things instead of fuel.
 
OK what price is fair for Gas? When I started this Thread in May of 2006 Oil was $71.90 a barrel and we were pissed. http://www.tsptalk.com/mb/showpost.php?p=43170&postcount=3
Go to post #3 and Read a few posts, we were being manipulated then.

Now they have put us in the mindset that $2.85 is a good and fair price for gas. Don't fall for it, OPEC and the rest have been raping us for years. Look what they built in Dubai with our cash, that's just an example.
http://images.google.com/images?hl=...&sa=X&oi=image_result_group&resnum=5&ct=title

Cheap Gas will Stop our problem with inflation. Pay less and be happy!!:cool:
 
Drill Drill Drill it's not over you know!! Get the turbines turning with air and water, nuc power come this way, electric and hydrogen cars burn your tires. We need them all and soon let them bitch until they squeal. :DView attachment 4944
 
I'm ready to refuse Oil from Venezuela, we owe Chavaz a kick in the ass!!:D AmericanFlag.gif
 
nnuut said:
Now they have put us in the mindset that $2.85 is a good and fair price for gas. Don't fall for it,
Click to expand...

And likewise, folks are being brainwashed into thinking that 100 down day on the DOW is a good day!:toung:

Heck, I heard them saying today was a good day being down only 300 because they were expecting worse.:rolleyes:

But yeah, you're right... we can't become decensitized!
 
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