Crude Oil prices slide for second day

[JimH52]

Oil extends slide into 2nd day, losing over $5: Financial News - Yahoo! Finance

Enjoy it. I am sure it is short lived.

 

[Paulie]

Oil extends slide into 2nd day, losing over $5: Financial News - Yahoo! Finance

Enjoy it. I am sure it is short lived.

Enjoy what? It's not like that changes the price of gasoline instantaneously.

Where I live, gas has been at $3.99 for a couple weeks, and the price of oil has gone up over $10/bbl during that time. It's almost as if they're doing everything they can to keep it from hitting $4 around here, like it's some kind of psychological mark. Maybe it is, but why fight it?

Oil has nowhere to go but up. I'm convinced we won't see oil really start to decline to where it SHOULD be until we start pulling troops from Iraq, and the possibility of military action against Iran subsides. Right now, there's just too much geopolitical uncertainty.

I'm still extremely comfortable staying long in my oil position.

 

[Toro]

The trend is still up but $140 oil is starting to change consumer behavior. I think the top in oil is approaching.

 

[jreeves]

Oil extends slide into 2nd day, losing over $5: Financial News - Yahoo! Finance

Enjoy it. I am sure it is short lived.

Hopefully the price will drop as fast as it climbed....
I'm not holding much hope of that though.

 

[Charles_Main]

If we even just announced a plan to address the problem(Drilling, New fuels, More refineries, more Nuke Plants) the price would lower. Speculation goes both ways, if we give the market a reason to think we will address the problem the price will go down just from that alone.

 

[Paulie]

I disagree with you guys. Most of the international community is on the edge of their seat waiting to see if we tangle with Iran. If we take military action against Iran, oil is going to skyrocket. Can you blame investors for being unsure about Bush and Cheney? I certainly can't.

I'm just not sure why an oil investor would want to leave their position right now. And I seriously doubt that just TALKING about the problems is going to change the price. Perhaps if we broke ground for some new oil fields and refineries, and people realized it was a SERIOUS effort, the market would respond. But just paying lip service to the necessary fixes isn't going to do anything. We've been hearing lip service for decades now.

 

[RetiredGySgt]

I disagree with you guys. Most of the international community is on the edge of their seat waiting to see if we tangle with Iran. If we take military action against Iran, oil is going to skyrocket. Can you blame investors for being unsure about Bush and Cheney? I certainly can't.

I'm just not sure why an oil investor would want to leave their position right now. And I seriously doubt that just TALKING about the problems is going to change the price. Perhaps if we broke ground for some new oil fields and refineries, and people realized it was a SERIOUS effort, the market would respond. But just paying lip service to the necessary fixes isn't going to do anything. We've been hearing lip service for decades now.

In other words the Liberals have caused the soaring Gas prices with their ignorant claims we are on the verge of Invading Iran. Thanks for the heads up. Of course one wonders why 6 months before Bush is no longer President the prices soared on that scare rather then 2 years ago when it might have technically been possible for Bush to ACTUALLY attack Iran.

 

[editec]

I disagree with you guys. Most of the international community is on the edge of their seat waiting to see if we tangle with Iran. If we take military action against Iran, oil is going to skyrocket. Can you blame investors for being unsure about Bush and Cheney? I certainly can't.

I'm just not sure why an oil investor would want to leave their position right now. And I seriously doubt that just TALKING about the problems is going to change the price. Perhaps if we broke ground for some new oil fields and refineries, and people realized it was a SERIOUS effort, the market would respond. But just paying lip service to the necessary fixes isn't going to do anything. We've been hearing lip service for decades now.

Yeah, that no doubt plays a role in the current prices.

 

[editec]

In other words the Liberals have caused the soaring Gas prices with their ignorant claims we are on the verge of Invading Iran. Thanks for the heads up. Of course one wonders why 6 months before Bush is no longer President the prices soared on that scare rather then 2 years ago when it might have technically been possible for Bush to ACTUALLY attack Iran.

You really are into using pretzel logic to pin the world's ills on these mythical boogiemen liberals you imagine exist, aren't you?

REPUBICAN PRESIDENTIAL HOPEFUL McCain rattles sabers by making statements like how its good that we're killing Iranians with cigarettes, and you still find a way to blame liberals for the price of oil?

What a piece of work you are.

 

[busara]

In other words the Liberals have caused the soaring Gas prices with their ignorant claims we are on the verge of Invading Iran. Thanks for the heads up. Of course one wonders why 6 months before Bush is no longer President the prices soared on that scare rather then 2 years ago when it might have technically been possible for Bush to ACTUALLY attack Iran.

you try very hard to blame the dems, dont you?

 

[Paulie]

In other words the Liberals have caused the soaring Gas prices with their ignorant claims we are on the verge of Invading Iran. Thanks for the heads up. Of course one wonders why 6 months before Bush is no longer President the prices soared on that scare rather then 2 years ago when it might have technically been possible for Bush to ACTUALLY attack Iran.

Technically possible? WTF are you talking about? The man is president until January, he has until then to make a move. What if a terrorist attack happens again? I mean, the government has only been doing their best to scare the shit out of us and make us think it could be any day now with a dirty bomb. As long as that threat remains clear and present, the market is going to respond and high oil prices are going to be a part of it. The days of cheap oil are over, and that has nothing to do with liberals, brotha. No matter how much you wish it did.

Anyone can feel the tensions have been building since 2 years ago. 2 years ago, there weren't all the resolutions against Iran that have passed since then, the tougher sanctions, the louder war drums...You MUST feel it, no?

Whatever your stupid ass opinion about liberals this and liberals that, the geopolitical scene is set, and you better be prepared to spend a lot of money on gasoline.

 

[JimH52]

In other words the Liberals have caused the soaring Gas prices with their ignorant claims we are on the verge of Invading Iran. Thanks for the heads up. Of course one wonders why 6 months before Bush is no longer President the prices soared on that scare rather then 2 years ago when it might have technically been possible for Bush to ACTUALLY attack Iran.

Do you know another song? Anything other than "Blame Dem Librals" would be nice.

It is nearly August and we haven't seen any scare tactics from the GOP to gain votes yet. Could it be that John McCain, unlike gw, has some class?

 

[jreeves]

You really are into using pretzel logic to pin the world's ills on these mythical boogiemen liberals you imagine exist, aren't you?

REPUBICAN PRESIDENTIAL HOPEFUL McCain rattles sabers by making statements like how its good that we're killing Iranians with cigarettes, and you still find a way to blame liberals for the price of oil?

What a piece of work you are.

Saber rattling, hardly, saber rattling would be....."We are going to make Iran an ashtray if they don't give up their nuke program."

 

[editec]

Saber rattling, hardly, saber rattling would be....."We are going to make Iran an ashtray if they don't give up their nuke program."

Sending signal of international diplomacy is way more subtle than that, sport.

 

[RetiredGySgt]

Technically possible? WTF are you talking about? The man is president until January, he has until then to make a move. What if a terrorist attack happens again? I mean, the government has only been doing their best to scare the shit out of us and make us think it could be any day now with a dirty bomb. As long as that threat remains clear and present, the market is going to respond and high oil prices are going to be a part of it. The days of cheap oil are over, and that has nothing to do with liberals, brotha. No matter how much you wish it did.

Anyone can feel the tensions have been building since 2 years ago. 2 years ago, there weren't all the resolutions against Iran that have passed since then, the tougher sanctions, the louder war drums...You MUST feel it, no?

Whatever your stupid ass opinion about liberals this and liberals that, the geopolitical scene is set, and you better be prepared to spend a lot of money on gasoline.

Except you and your liberal buddies are the ONLY Americans BEATING those drums. I have heard for years now we are just moments away from attacking Iran, any day now, ohh look Bush is preparing to attack Iran, Wait not today, probably tomorrow.

Bush has been clear all along, he has let Europe handle the Iran situation and only stated that in dire circumstances the military option is NOT off the table. Which is a wise move. You and your liberal buddies are the only ones insisting we will invade any day now.

A terrorist attack will not lead to an attack on Iran unless there is overwhelming evidence Iran provided the materials or trained the terrorists. The fear mongering is all coming from You and your Liberal Buddies.

A Democratic Congress is NOT going to authorize force in Iran unless it is bound any doubt that they attacked us. Which is not likely. 2 Years ago Republicans MIGHT have but not today.

The only other way we go to war with Iran in the next few months is if Israel attacks them and the retards fire missiles at our bases in the Middle East. Also not likely. But more likely then your " the drums are beating" garbage.

 

[RetiredGySgt]

Sending signal of international diplomacy is way more subtle than that, sport.

Sure thing "sport" Cause we all know what sophisticated International Diplomats the Mullahs are right? McCain makes a joke about cigs and it is saber rattling. The President of Iran threatens to wipe Israel of the earth and it is just "pillow talk" GIVE ME A BREAK.

 

[sealybobo]

This coming from a Big Corporation!!! Tell me they are making this up about Speculation!!!

An Open letter to All Airline Customers:

Our country is facing a possible sharp economic downturn because of skyrocketing oil and fuel prices, but by pulling together, we can all do something to help now. Visit Stop Oil Speculation Now | S.O.S. NOW.

For airlines, ultra-expensive fuel means thousands of lost jobs and severe reductions in air service to both large and small communities. To the broader economy, oil prices mean slower activity and widespread economic pain. This pain can be alleviated, and that is why we are taking the extraordinary step of writing this joint letter to our customers.

Since high oil prices are partly a response to normal market forces, the nation needs to focus on increased energy supplies and conservation. However, there is another side to this story because normal market forces are being dangerously amplified by poorly regulated market speculation.

Twenty years ago, 21 percent of oil contracts were purchased by speculators who trade oil on paper with no intention of ever taking delivery. Today, oil speculators purchase 66 percent of all oil futures contracts, and that reflects just the transactions that are known. Speculators buy up large amounts of oil and then sell it to each other again and again. A barrel of oil may trade 20-plus times before it is delivered and used; the price goes up with each trade and consumers pick up the final tab. Some market experts estimate that current prices reflect as much as $30 to $60 per barrel in unnecessary speculative costs.

Over seventy years ago, Congress established regulations to control excessive, largely unchecked market speculation and manipulation. However, over the past two decades, these regulatory limits have been weakened or removed. We believe that restoring and enforcing these limits, along with several other modest measures, will provide more disclosure, transparency and sound market oversight. Together, these reforms will help cool the over-heated oil market and permit the economy to prosper.

The nation needs to pull together to reform the oil markets and solve this growing problem. We need your help. Get more information and contact Congress by visiting Stop Oil Speculation Now | S.O.S. NOW.

Robert Fornaro
Chairman, President and CEO
AirTran Airways
Bill Ayer
Chairman, President and CEO
Alaska Airlines, Inc.
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Chairman, President and CEO
American Airlines, Inc.

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Chairman and CEO
Continental Airlines, Inc.
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CEO
Delta Air Lines, Inc.
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President and CEO
Hawaiian Airlines, Inc.

Dave Barger
CEO
JetBlue Airways Corporation
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Midwest Airlines
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President and CEO
Northwest Airlines, Inc.

Gary Kelly
Chairman and CEO
Southwest Airlines Co.
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Chairman, President and CEO
United Airlines, Inc.
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Chairman and CEO
US Airways Group, Inc.

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© Northwest Airlines 2008

 

[editec]

Sure thing "sport" Cause we all know what sophisticated International Diplomats the Mullahs are right? McCain makes a joke about cigs and it is saber rattling. The President of Iran threatens to wipe Israel of the earth and it is just "pillow talk" GIVE ME A BREAK.

Oh, please, do give it a rest. Don't you ever get tired of knocking down straw men and changing the subject when you can't think of a response germane to the subject at hand?

Did I suggest that the Mullahs are good people? Of course not.

Try responding to my point instead of attempting to put words in my mouth so that you can chastise me for things I never said.

It was inappropriate for a Presidential contender to say something so fucking stupid as that.

And fuckin-a that's saber rattling.

 

[Charles_Main]

Sometime we need a little saber rattling bud. Better to rattle them then actually use them I say.

 

[gonegolfin]

This coming from a Big Corporation!!! Tell me they are making this up about Speculation!!!

http://www.usmessageboard.com/econo...tors-or-the-american-consumer.html#post708927

Brian