Oil Slick Stuff

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JTH said:
WOW :nuts:

The big question for me is when are the oil producers going to cut back on production therfore inducing the rubber band effect where prices swing in the other direction and go too high? :cool:
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Good darn question...I posted this same kinda question below..I'm waiting for the feces to hit the fan soon...:blink:
 
nnuut said:
We surely can and that's about all we use!!! Yummy!!:rolleyes: Want me to FEDEX you a bag?:cool:
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Na..but thanks anyway..I have a couple of students coming from Peach Tree City next month and they are bringing me a couple 10lb bags...:)
 
07/10/2009 - Updated 3:29 PM ET
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Oil falls below $60 as IEA report reaffirms demand concerns
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By Moming Zhou, MarketWatch & Polya Lesova, MarketWatch

NEW YORK (MarketWatch) -- Oil futures fell below $60 a barrel Friday, marking their biggest weekly loss in six months as an International Energy Agency report reaffirmed concerns about weak demand.
The energy adviser to 28 developed countries projected in the monthly report that this year's global oil demand will fall 2.9% from a year ago, unchanged from the agency's prediction a month ago. Also weighing on oil prices Friday, data showed U.S. consumer sentiment fell sharply in early July, On the New York Mercantile Exchange, August oil futures fell 52 cents, or 0.9%, to end at $59.89 a barrel, the lowest settlement for a front-month contract since May 18. It dropped as low as $58.72 earlier.
http://markets.usatoday.com/custom/...S&guid={DFCDD5F4-AF9E-4AF2-A54E-001C9A7AF020}
 
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Retail gasoline pump price fell 23 cents today in my area. Some stations at $2.53 this morning, reposted $2.30 this evening.

Wow.

Prices falling off a cliff. Another downward spike in the market just ahead?
 
Buster said:
TODAY...$1.98:nuts:
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Think for a minute about what that means for the economy at large. Does this mean that demand is slowing down again so much that stockpiles are huge, and prices sagging?

Or does it mean that the oil companies are again trying to knock the wind out of competing fuels?

Or does it mean that more unemployed are not buying gas?

What do YOU think gas, at $1.98, means?
 
It means oil companies and petroleum producers overestimated demand and were hoping that there would be a quick turn around. They also wanted to get their profits back after taking a bath. Plus, I still think that there are investors who were playing the oil card because they didn't see any other investment that might just rise in the double digits. That's my opinion. Whether it's worth two copper pennies or two zinc pennies (pennies aren't made of that much copper anymore) is up to you.
 
....

Here is what it [XME, Energy Sector Spyder] looks like now:

​
....​

…but there is just one more thing…

What if the XME is constructing an even larger H&S? Suppose that Point “A” on the second chart is the left shoulder, and the old right shoulder has expanded in size at Point “B”, and my blue target line is now the neckline? That would look something like this:

This pattern suggests a test of the March low.

See full blog at, http://www.trivisonno.com/hs-1-bulls-0
 
James48843 said:
Think for a minute about what that means for the economy at large. Does this mean that demand is slowing down again so much that stockpiles are huge, and prices sagging?

Or does it mean that the oil companies are again trying to knock the wind out of competing fuels?

Or does it mean that more unemployed are not buying gas?

What do YOU think gas, at $1.98, means?
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Well I don't know what it means, Mr Jimmy Raincloud...I just hope it means that things are stabilizing..:)
 
I think the CROOKS got caught and had to allow PRICE to adjust. It will fall to the levels that it rightly should be, but that is only temporary. They do have a PLAN don't think they don't!!! As soon as the economy starts to recover whether it is real or not, UP she goes again. Their setting the stage right now.:mad: manavatar.gif
 
Gas hits $2.55: Down 10 cents in two weeks

Prices at the pump have declined 10.4% over the past two weeks, marking the biggest two-week drop since December, according to the Lundberg Survey.

Last Updated: July 12, 2009: 3:59 PM ET

Gasoline prices and taxes by state


Prices at the pump can vary widely among states, due in large part to vastly different levels of gasoline tax. More

ATLANTA (CNN) -- Prices at the pump dropped more than a dime over the past two weeks, according to a survey published Sunday.

The average price of a gallon of self-serve regular gasoline is $2.55, the Lundberg Survey found -- a decline of 10.4% from June 26.
The decline was the first two-week drop since March, when prices went down a penny, said survey publisher Trilby Lundberg. It was the largest two-week decline in gas prices since early December.
http://money.cnn.com/2009/07/12/new...undberg.cnnw/index.htm?postversion=2009071215
 
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Wow!! It's cheap in Oklahoma City, must be nice?:notrust:
Thanks Buster
 
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