Oil jumps $3.70 a barrel due to unrest in Egypt.

Discussion in 'Energy' started by zzzz, Jan 28, 2011.

  1. zzzz
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    zzzz Just a regular American

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    Get ready for a price jump in gas this weekend. Things could get a lot worse in a hurry if the canal gets blocked. Oil at $90 a barrel is not helping the economy any and we may get to that $4 a gallon before we expected too if the whole middle east blows up.
     
  2. uscitizen
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    uscitizen Senior Member

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    Yep that oil takes a month or so to get to our pumps so we get an immediate price increase.
     
  3. zzzz
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    zzzz Just a regular American

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    Chevron: 5.3 billion dollar 4th quarter earnings. They just keep soaking up US dollars!
     
  4. uscitizen
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    uscitizen Senior Member

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    And more now. All that oil they bought cheaper is now worth more in the ships.

    this will of course help the economic recovery on paper and boost the gdp.
     
  5. Trajan
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    Trajan conscientia mille testes

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    American crude jumped 4 bucks today.

    I already pay the highest in the country anyway, $3.50 a gal. for regular so what the hell...
     
    Last edited: Jan 28, 2011
  6. Rat in the Hat
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    Rat in the Hat Gold Member

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    The price hikes have already started. Stations in my area raised their prices 10 cents a gallon between 8:00 this morning and 4:00 this afternoon.

    They're gouging on gas already in their tanks.
     
  7. zzzz
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    zzzz Just a regular American

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    Here in Indiana it jumped from $2.82 a gallon to $3.19 yesterday a 37 cent increase. I supect it will never get that low again. This is the time of the year, historically that prices are at the lowest. So get ready for that $4 a gallon in time for Memorial Day.
     
  8. uscitizen
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    uscitizen Senior Member

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    How does anyone expect the economy to recover if we do not pay more for the stuff we already buy?


    Real growth is pathetically low in America.

    Glad I bought several hundred gallons of diesel and gas last week.
     
    Last edited: Jan 28, 2011
  9. Mr. H.
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    Mr. H. Diamond Member

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    Think of it as an investment. Obama will recover those obscene windfalls and reinvest them in windmills and solar cells. Plus, the higher prices are good for the ethanol industry.

    You're winning the future here.
     
  10. Rat in the Hat
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    Rat in the Hat Gold Member

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    The new slogan for OPEC and the oil companies.

    "Together We Thrive"
     

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