Oil may drop to $65 Dollars a barrell

Discussion in 'Economy' started by 52ndStreet, Aug 15, 2008.

  1. 52ndStreet
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    52ndStreet VIP Member

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    I read a report at msn.com , that Oil may drop to $65.00 a barrell?.
    has anyone else seen this article.
     
    Last edited: Aug 15, 2008
  2. Article 15
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    Article 15 Dr. House slayer

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    This article?

    http://http://articles.moneycentral.msn.com/Investing/SuperModels/CouldOilPlungeTo65ABarrel.aspx
     
  3. Angel Heart
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    Angel Heart Conservative Hippie

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  4. Annie
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    Annie Diamond Member

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    So why did our gas prices around here go from $3.89 to $4.07 in the past week? :confused:
     
  5. Chris
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    Chris Gold Member

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    All we had to do was start conserving fuel.

    Just like Obama said.
     
  6. 52ndStreet
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    52ndStreet VIP Member

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    I am still waiting for a one day Gasoline boycott, now that will really drop
    the price of gasoline and Oil, if American drivers organize a one day a week
    Gasoline buying boycott.?!?
     
  7. Zoomie1980
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    Zoomie1980 Senior Member

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    $35-$40 is not out of the realm of possibility. It still only costs about $30 to produce and ship a barrel of oil to a consumer, on average, globally. But the long term supply fears, that are still there will prevent it from going much below $90 or so..... IT goes lower only if the same speculators that operated on panic driving it up, do the same on the down side...
     
  8. JimH52
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    JimH52 Gold Member

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    I feel your pain. I don't know if this is a fact but I read that gas stations were making 10-13 cents per gallon before the run up. During the $4+ days they were only makes 3-8 cents a gallon. The stations will be slow in bringing the price down in order to recoup some of their losses during the $4+ a gallon days. Like I said, I don't know if it is a fact, but it sounded reasonable.
     
  9. Zoomie1980
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    Zoomie1980 Senior Member

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    There is some truth to that. Oil is down over 25% but gasoline is down only about 15%. Refiners are taking a shot at finally making some money. Realistically under historic profit margins for refiners, gas should have been around $4.60-$4.80 at their peak, not $4.08.

    Gas will likely go under $3.00 for at least a brief while before Christmas.
     
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  10. TopGunna
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    TopGunna Member

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    Ha, come on Kirk, you can't be that blind of a sheep.
     

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