Oil drops to 17 month low

[conjur]

Originally posted by: Vic

Originally posted by: conjur
Wed. afternoon: $2.09
Thur. morning: $2.29

Yet oil keeps dropping.

When did oil start dropping?

Pray tell, Vic.

 

[dmcowen674]

Originally posted by: umbrella39

Originally posted by: Whoozyerdaddy
Everyone said it would go back UP after the elections.

The price of gas has remained at or around $2.20 here is SE Michigan for the past 3 months straight despite oil prices continuing to tank.

Funny how they only keep pace when the price goes up, not down.

Absolutely criminal

 

[International Machine Consortium]

Originally posted by: Whoozyerdaddy
Everyone said it would go back UP after the elections. What gives?

LONDON (Reuters) - Oil fell toward $55 on Friday, hitting its lowest level since mid-2005 driven by fund selling across commodity markets on concern of an economic slowdown in the world's largest energy consumer the United States.

Oil drew further downward momentum from high U.S. oil inventories and ahead of the expiry of the front-month U.S. crude contract at the close of trade on Friday.

U.S. crude was down $1.01 at $55.25 a barrel at 1327 GMT after hitting its lowest level since June 14 last year at $54.86. The price has fallen over 29 percent from the record of $78.40 in July.

I guess that "drive for five" is on hold for now. Actually, this article seems to indicate that the price of oil is a market driven factor and not arbitrarily set by the Bush administration or evil oil companies. Who knew? Ya learn something new every day.

Good news though. (Especially for those of us who heat our homes with oil) $40-45/barrel would be just about perfect.

How about the price at the pump? Yes, that's correct, it went UP after the elections.... Your post only proves further that the government is in collusion with the oil industry and they're manipulating the market as they see fit.

 

[jrenz]

Originally posted by: International Machine Consortium

Originally posted by: Whoozyerdaddy
Everyone said it would go back UP after the elections. What gives?

LONDON (Reuters) - Oil fell toward $55 on Friday, hitting its lowest level since mid-2005 driven by fund selling across commodity markets on concern of an economic slowdown in the world's largest energy consumer the United States.

Oil drew further downward momentum from high U.S. oil inventories and ahead of the expiry of the front-month U.S. crude contract at the close of trade on Friday.

U.S. crude was down $1.01 at $55.25 a barrel at 1327 GMT after hitting its lowest level since June 14 last year at $54.86. The price has fallen over 29 percent from the record of $78.40 in July.

I guess that "drive for five" is on hold for now. Actually, this article seems to indicate that the price of oil is a market driven factor and not arbitrarily set by the Bush administration or evil oil companies. Who knew? Ya learn something new every day.

Good news though. (Especially for those of us who heat our homes with oil) $40-45/barrel would be just about perfect.

How about the price at the pump? Yes, that's correct, it went UP after the elections.... Your post only proves further that the government is in collusion with the oil industry and they're manipulating the market as they see fit.

Prices in my area went down after the election. So according to you, that PROVES that the government isn't in collusion with anybody.

 

[Whoozyerdaddy]

Originally posted by: International Machine Consortium

Originally posted by: Whoozyerdaddy
Everyone said it would go back UP after the elections. What gives?

LONDON (Reuters) - Oil fell toward $55 on Friday, hitting its lowest level since mid-2005 driven by fund selling across commodity markets on concern of an economic slowdown in the world's largest energy consumer the United States.

Oil drew further downward momentum from high U.S. oil inventories and ahead of the expiry of the front-month U.S. crude contract at the close of trade on Friday.

U.S. crude was down $1.01 at $55.25 a barrel at 1327 GMT after hitting its lowest level since June 14 last year at $54.86. The price has fallen over 29 percent from the record of $78.40 in July.

I guess that "drive for five" is on hold for now. Actually, this article seems to indicate that the price of oil is a market driven factor and not arbitrarily set by the Bush administration or evil oil companies. Who knew? Ya learn something new every day.

Good news though. (Especially for those of us who heat our homes with oil) $40-45/barrel would be just about perfect.

How about the price at the pump? Yes, that's correct, it went UP after the elections.... Your post only proves further that the government is in collusion with the oil industry and they're manipulating the market as they see fit.

Once again, you haven't read the thread have you? Where I live the price at the pump was going down before the election and has continued to fall despite switching over to our more expensive winter blend.

 

[wetech]

Originally posted by: dmcowen674

Originally posted by: umbrella39

Originally posted by: Whoozyerdaddy
Everyone said it would go back UP after the elections.

The price of gas has remained at or around $2.20 here is SE Michigan for the past 3 months straight despite oil prices continuing to tank.

Funny how they only keep pace when the price goes up, not down.

Absolutely criminal

The data would say otherwise, look at the site Fitzof posted earlier.
Text

The correlation is pretty damn high, on the upside as well as the downside.
It would be better if you could run the chart with a logarithmic scale, but it's still a good chart.

 

[dmcowen674]

Originally posted by: Whoozyerdaddy
Where I live the price at the pump was going down before the election and has continued to fall despite switching over to our more expensive winter blend.

You're on drugs man.

It's the summer blends that they costs more to keep down NOX not the winter formula.

If you're going to back your Oil robber baron buddies up at least get your story straight.

 

[Whoozyerdaddy]

Originally posted by: dmcowen674

Originally posted by: Whoozyerdaddy
Where I live the price at the pump was going down before the election and has continued to fall despite switching over to our more expensive winter blend.

You're on drugs man.

It's the summer blends that they costs more to keep down NOX not the winter formula.

If you're going to back your Oil robber baron buddies up at least get your story straight.

I live in Alaska. Our pollution problems come in the winter. In the places where we are required to use oxygenated fuel, that fuel costs more. Go cry to your Democrat gods for givng you the wrong infomration.

 

[dmcowen674]

Originally posted by: Whoozyerdaddy

Originally posted by: dmcowen674

Originally posted by: Whoozyerdaddy
Where I live the price at the pump was going down before the election and has continued to fall despite switching over to our more expensive winter blend.

You're on drugs man.

It's the summer blends that they costs more to keep down NOX not the winter formula.

If you're going to back your Oil robber baron buddies up at least get your story straight.

I live in Alaska. Our pollution problems come in the winter. In the places where we are required to use oxygenated fuel, that fuel costs more. Go cry to your Democrat gods for givng you the wrong infomration.

Are you saying you don't have to use oxygenated fuels in summer???

 

[BoomerD]

Here in Kahleeforneeya, they oxygenate the fuel during the winter months as well...or maybe increase the amount of ethanol..(used to be MTBE, but that was a worse pollutant, so out it went) The gas stations start selling a "winter blend" sometime in October I think.

 

[Whoozyerdaddy]

Originally posted by: dmcowen674

Originally posted by: Whoozyerdaddy

Originally posted by: dmcowen674

Originally posted by: Whoozyerdaddy
Where I live the price at the pump was going down before the election and has continued to fall despite switching over to our more expensive winter blend.

You're on drugs man.

It's the summer blends that they costs more to keep down NOX not the winter formula.

If you're going to back your Oil robber baron buddies up at least get your story straight.

I live in Alaska. Our pollution problems come in the winter. In the places where we are required to use oxygenated fuel, that fuel costs more. Go cry to your Democrat gods for givng you the wrong infomration.

Are you saying you don't have to use oxygenated fuels in summer???

Right, we use normal gas in the summer.

SCIENCE LESSON: Temperature Inversion
When you live in a valley or on a plane that abuts mountains you are in the perfect location to experience a temperature inversion. This is the effect whereby, in very cold temperatures, the air settles in layers. Air pollution from cars and chimneys rise to a certain level and then spread out as though it has hit a celing. The colder the temps the lower the ceiling usually. Sometimes this ceiling can be as low as 100'. (It's pretty cool to see actually. The smoke from a stack will rise straight up to the inversion and then spread out)

In situations like this, CO2 and other pollutants can not dissapate into the upper atmosphere and build up to levels that trigger EPA violations. Oxyfuels help to mitigte these pollutants and keep us from violating EPA clean air regs. In the summer, when the atmosphere acts normal and pollution can rise and disburse unabated, there is no need for oxyfuels.

For reference, TI's occur under these circumstances and can last for weeks.

 

[Rogodin2]

Opec is curailing output with a premise that they don't flood the market-but demand is still VERY HIGH. I suspect that the they've reached their peak output and are capping the production until world demand stablizes.

Rogo

 

[dmcowen674]

Originally posted by: Whoozyerdaddy

Originally posted by: dmcowen674

Originally posted by: Whoozyerdaddy

Originally posted by: dmcowen674

Originally posted by: Whoozyerdaddy
Where I live the price at the pump was going down before the election and has continued to fall despite switching over to our more expensive winter blend.

You're on drugs man.

It's the summer blends that they costs more to keep down NOX not the winter formula.

If you're going to back your Oil robber baron buddies up at least get your story straight.

I live in Alaska. Our pollution problems come in the winter. In the places where we are required to use oxygenated fuel, that fuel costs more. Go cry to your Democrat gods for givng you the wrong infomration.

Are you saying you don't have to use oxygenated fuels in summer???

Right, we use normal gas in the summer.

SCIENCE LESSON: Temperature Inversion
When you live in a valley or on a plane that abuts mountains you are in the perfect location to experience a temperature inversion. This is the effect whereby, in very cold temperatures, the air settles in layers. Air pollution from cars and chimneys rise to a certain level and then spread out as though it has hit a celing. The colder the temps the lower the ceiling usually. Sometimes this ceiling can be as low as 100'. (It's pretty cool to see actually. The smoke from a stack will rise straight up to the inversion and then spread out)

In situations like this, CO2 and other pollutants can not dissapate into the upper atmosphere and build up to levels that trigger EPA violations. Oxyfuels help to mitigte these pollutants and keep us from violating EPA clean air regs. In the summer, when the atmosphere acts normal and pollution can rise and disburse unabated, there is no need for oxyfuels.

For reference, TI's occur under these circumstances and can last for weeks.

I know about Temp inversions.

So basically you have a year round excuse for the Oil Barons for prices top be high.

Cute, nice going Apologist.

 

[dullard]

Like I said, don't celebrate the $55/barrel oil as it would be back up this week. $58.80 right now. A combination of factors are at play. The expiration of last month's contracts and Alaska weather caused the price to go back up.

 

[crownjules]

Originally posted by: dmcowen674
I know about Temp inversions.

So basically you have a year round excuse for the Oil Barons for prices top be high.

Cute, nice going Apologist.

Sounds like it is due more to EPA regulation. If I'm not mistaking, it's largely the liberals that clamor for environmental protection, even if it means higher costs for the average Joe.

 

[dmcowen674]

Originally posted by: crownjules

Originally posted by: dmcowen674
I know about Temp inversions.

So basically you have a year round excuse for the Oil Barons for prices top be high.

Cute, nice going Apologist.

Sounds like it is due more to EPA regulation. If I'm not mistaking, it's largely the liberals that clamor for environmental protection, even if it means higher costs for the average Joe.

So are you saying the $2.50 a gallon is the total fault of the EPA and Democrats now?

 

[crownjules]

Originally posted by: dmcowen674
So are you saying the $2.50 a gallon is the total fault of the EPA and Democrats now?

No, I was talking about the higher costing oxygenated fuels only.

 

[judasmachine]

{ahem}
winter - non driving season, gas goes down, cold season, heating oil goes up.

summer - driving season, gas goes way up, warm season, heating oil disappears(?)

 

[jlbenedict]

Gas up three cents / gallon just yesterday afternoon.... Nice :disgust:

I guess since AAA has predicted record holiday travel this season, the oil barons have to insure their Christmas wish lists are fully funded for.

Baltimore Drivers Hit The Road, As Gasoline Prices Rise

 

[fitzov]

Originally posted by: judasmachine
{ahem}
winter - non driving season, gas goes down, cold season, heating oil goes up.

summer - driving season, gas goes way up, warm season, heating oil disappears(?)

Uh, but home heating oil is like a high quality deisel, not crude oil.

 

[Genx87]

Originally posted by: jlbenedict
Gas up three cents / gallon just yesterday afternoon.... Nice :disgust:

I guess since AAA has predicted record holiday travel this season, the oil barons have to insure their Christmas wish lists are fully funded for.

Baltimore Drivers Hit The Road, As Gasoline Prices Rise

You people need to get a life, seriously. You bother to mention 3 cents a gallon in either direction?

 

[EagleKeeper]

Originally posted by: Genx87

Originally posted by: jlbenedict
Gas up three cents / gallon just yesterday afternoon.... Nice :disgust:

I guess since AAA has predicted record holiday travel this season, the oil barons have to insure their Christmas wish lists are fully funded for.

Baltimore Drivers Hit The Road, As Gasoline Prices Rise

You people need to get a life, seriously. You bother to mention 3 cents a gallon in either direction?

When has Dave or any liberal ever mentioned a drop in prices?

 

[dullard]

Originally posted by: Genx87
You people need to get a life, seriously. You bother to mention 3 cents a gallon in either direction?

Genx87, you are correct that three cents in either direction is meaningless. However, in this thread Whoozyerdaddy made some statements that simply needed to be addressed. And so people post proof to comment on his statements. For example here are some of his own words:

[*]"Everyone said it would go back UP after the elections...$40-45/barrel would be just about perfect". Well guess what. Oil was at $55 on Friday, $59 on Monday, $60.17 right now on Tuesday. That appears to be going up and not towards that $40-$45/barrel projection. So of course we are going to post any gain, especially when it is small gain after small gain. You are right that one small gain is nothing. But day after day of small gain will add up.

[*]"And I don't know where you live but the price of gas is trending DOWN here....average price for gas in Alaska was 2.65 a month ago... $2.54 today." Lets look at this "trending DOWN" portion after the election. Alaska prices. Hmm, seems like they were $2.53 on the day of the election, and have been basically flat since then. This doesn't support his "prices are trending down" after the election theory. In fact, zoom out on that graph to 3 months. Prices went down nearly every day UNTIL the election. Then they are holding steady. Again, I don't see any evidence to support Whoozyerdaddy's thesis that prices are going down after the election. He is correct that in Alaska they aren't going up, but they aren't going down either.

[*]"Where I live the price at the pump was going down before the election and has continued to fall despite switching over to our more expensive winter blend." The continued to fall part of that sentence just doesn't match with Alaska averages. Facts rule in debates. Lets see ANY facts proving that national gas prices are falling after the election (overall, they are steady to up). Or heck, lets even narrow it down to Alaska averages - again they are steady.

Of course, all of the stuff above ignores the more important flaw in Whoozyerdaddy's logic. He made sweeping generalizations bashing other people's oil/gas posts. But then he only looks at one local area. Guess what, those other people he is bashing don't live in that local area. They live in local areas where their posts were correct. Even the national averages are backing them up. Whoozyerdaddy's insistance on using local data to attack people's posts about the national average just cannot be tollerated.

 

[dmcowen674]

Originally posted by: dullard

Originally posted by: Genx87
You people need to get a life, seriously. You bother to mention 3 cents a gallon in either direction?

Genx87, you are correct that three cents in either direction is meaningless. However, in this thread Whoozyerdaddy made some statements that simply needed to be addressed. And so people post proof to comment on his statements. For example here are some of his own words:

[*]"Everyone said it would go back UP after the elections...$40-45/barrel would be just about perfect". Well guess what. Oil was at $55 on Friday, $59 on Monday, $60.17 right now on Tuesday. That appears to be going up and not towards that $40-$45/barrel projection. So of course we are going to post any gain, especially when it is small gain after small gain. You are right that one small gain is nothing. But day after day of small gain will add up.

[*]"And I don't know where you live but the price of gas is trending DOWN here....average price for gas in Alaska was 2.65 a month ago... $2.54 today." Lets look at this "trending DOWN" portion after the election. Alaska prices. Hmm, seems like they were $2.53 on the day of the election, and have been basically flat since then. This doesn't support his "prices are trending down" after the election theory. In fact, zoom out on that graph to 3 months. Prices went down nearly every day UNTIL the election. Then they are holding steady. Again, I don't see any evidence to support Whoozyerdaddy's thesis that prices are going down after the election. He is correct that in Alaska they aren't going up, but they aren't going down either.

[*]"Where I live the price at the pump was going down before the election and has continued to fall despite switching over to our more expensive winter blend." The continued to fall part of that sentence just doesn't match with Alaska averages. Facts rule in debates. Lets see ANY facts proving that national gas prices are falling after the election (overall, they are steady to up). Or heck, lets even narrow it down to Alaska averages - again they are steady.

Of course, all of the stuff above ignores the more important flaw in Whoozyerdaddy's logic. He made sweeping generalizations bashing other people's oil/gas posts. But then he only looks at one local area. Guess what, those other people he is bashing don't live in that local area. They live in local areas where their posts were correct. Even the national averages are backing them up. Whoozyerdaddy's insistance on using local data to attack people's posts about the national average just cannot be tollerated.

A big :lips: to you sir :thumbsup:

 

[Sheik Yerbouti]

Originally posted by: EagleKeeper

Originally posted by: Genx87

Originally posted by: jlbenedict
Gas up three cents / gallon just yesterday afternoon.... Nice :disgust:

I guess since AAA has predicted record holiday travel this season, the oil barons have to insure their Christmas wish lists are fully funded for.

Baltimore Drivers Hit The Road, As Gasoline Prices Rise

You people need to get a life, seriously. You bother to mention 3 cents a gallon in either direction?

When has Dave or any liberal ever mentioned a drop in prices?

I've mentioned price drops several times, even though I KNEW it was because the gop was trying to put a shine a pile of crap. If you don't think that the gop had their hands in the price drop, you're living in a very naive world.
Liberal and damn proud of it.