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Oil price nears $40 a barrel

It's artificial inflation. It takes about 9 months for the oil that's in the ground today to reach the US.
The raise the price because they can...
 
yup, cause we all know that they used to be able to sell it at $20 a barrel and still make tons of money. How could it cost more now to get something that's free to them.
 
Ouch! It's been 20ish years since oil has been this high, although I believe it went that high during the Gulf War. Anybody remember how high it went during/before the Gulf War?

At any rate, Canada will benefit from this price, quite handsomely.
 
Originally posted by: JeffreyLebowski
yup, cause we all know that they used to be able to sell it at $20 a barrel and still make tons of money. How could it cost more now to get something that's free to them.
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I'd like you to explain how oil is "free"?

Start at the beginning with the exploration and work your way through the entire process to the transportation. I'm serious, I want your explanation as to why you say it's free.
 
Originally posted by: etech
Originally posted by: JeffreyLebowski yup, cause we all know that they used to be able to sell it at $20 a barrel and still make tons of money. How could it cost more now to get something that's free to them.
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I'd like you to explain how oil is "free"? Start at the beginning with the exploration and work your way through the entire process to the transportation. I'm serious, I want your explanation as to why you say it's free.
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It ain't free, but does anyone know the break even price for mid-east crude? I do not, but am curious.
 
Originally posted by: Hayabusarider
Originally posted by: etech
Originally posted by: JeffreyLebowski yup, cause we all know that they used to be able to sell it at $20 a barrel and still make tons of money. How could it cost more now to get something that's free to them.
Click to expand...
I'd like you to explain how oil is "free"? Start at the beginning with the exploration and work your way through the entire process to the transportation. I'm serious, I want your explanation as to why you say it's free.
Click to expand...

It ain't free, but does anyone know the break even price for mid-east crude? I do not, but am curious.
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It is alot lower than $30+ a barrel for here in the states. Most of the wells in now are deep and require pumping equipment. Many of the wells in the middle east are shallow and still free flowing.
 
And you'd think that the major oil companies would get a little "bump" in their stock prices when this happened. Not! XOM = $33.98 (or about $11.00 less a share than it was 17 months ago.) I need the price to get back up there so I can dump about 2,600 shares.
 
The bad news is that every time the oil price spikes, a recession follows. It happened in 73, 79, 91, 02 and it will happen in 03. The years might be off by a year but everytime it has spiked like this, a recession follows.

Better buckle down and watch your spending.
 
Originally posted by: Grasshopper27
Originally posted by: charrison
I dont want to know what Skoorb is doing with all that oil....
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Wait a minute...

I know!!! He's a terrorist, lets get him guys!!! 😀 😀 😀

Hopper
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That's just wrong Hopper 🙁
 
Originally posted by: optoman
The bad news is that every time the oil price spikes, a recession follows. It happened in 73, 79, 91, 02 and it will happen in 03. The years might be off by a year but everytime it has spiked like this, a recession follows.

Better buckle down and watch your spending.
Click to expand...

You ain't kidding optoman, I'm 🙁 looking at the stocks that I own 🙁
 
Originally posted by: Doggiedog
Didn't natural gas prices go up 20% in one day too last week?

I'm getting reamed in my car and in my home.
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I heard it was around 38%. Things are going to get real bad. Things just are not adding up. Everyone I talk to knows someone who is unemployed and has been for months. A lot of people are not included in the unemployment figures because they went off benefits as of the beginning of the year. That is why there was a 0.3% dip. The numbers will shoot back up to 6% and pass it in the next couple of months. Stocks are sliding and not that many companies are reporting stellar profits. It just looks bad and the oil spike is only making it worse.
 
Originally posted by: Doggiedog
Didn't natural gas prices go up 20% in one day too last week?

I'm getting reamed in my car and in my home.
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Yes, Natural gas went through the roof too. How can they blame that on Iraq? That is not where Natural Gas comes from. :|
 
Originally posted by: optoman
Originally posted by: Doggiedog
Didn't natural gas prices go up 20% in one day too last week?

I'm getting reamed in my car and in my home.
Click to expand...


I heard it was around 38%. Things are going to get real bad. Things just are not adding up. Everyone I talk to knows someone who is unemployed and has been for months. A lot of people are not included in the unemployment figures because they went off benefits as of the beginning of the year. That is why there was a 0.3% dip. The numbers will shoot back up to 6% and pass it in the next couple of months. Stocks are sliding and not that many companies are reporting stellar profits. It just looks bad and the oil spike is only making it worse.
Click to expand...

That is the one thing you sure can say the current administration is doing in regards to the Economy is that they are hiding the obvious numbers. The recession is worse than 1990 and getting worse but they refuse to admit it especially with the election season coming again.

 
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