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Post by avordvet on May 6, 2012 5:52:31 GMT -5
Oil in Free Fall as Economic Worries Spur SellingBy: Patti Domm, CNBC Executive News Editor, Published: Friday, 4 May 2012 | 1:27 PM ET Oil prices were in free fall Friday as worries about a weakening global economy combine with seemingly ample supplies and less fear of a confrontation with Iran. www.cnbc.com/id/47295638
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Post by stoner44magnum on May 6, 2012 6:29:51 GMT -5
But, but chairman maobama says the economy is doing just fine
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Post by Cujo on May 6, 2012 6:54:01 GMT -5
But, but chairman maobama says the economy is doing just fine Well isn't? I'm told it is better. ;D
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Post by Michael Downing on May 6, 2012 10:14:08 GMT -5
Ever notice how quickly gasoline prices peak upwards when oil prices jump because of economic or geopolitical events but how slowly gas prices fall when events cause oil prices to fall. Weird Heh... And then food prices and other prices never seem to drop back down at all even though rising transportation costs were the reason given for their rise. Just saying...
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Post by avordvet on May 6, 2012 10:25:39 GMT -5
Ever notice how quickly gasoline prices peak upwards when oil prices jump because of economic or geopolitical events but how slowly gas prices fall when events cause oil prices to fall. Weird Heh... And then food prices and other prices never seem to drop back down at all even though rising transportation costs were the reason given for their rise. Just saying... That has been the technique for a long time now, drive the prices up then drop 'em a little, people then say thank god the prices have come down, even though when averaged, they are still at an all-time high. It's called conditioning...
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Post by Michael Downing on May 6, 2012 11:56:16 GMT -5
yeah I know. Every time a bell rings they can make me salivate....
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Post by brocktownsend on May 6, 2012 12:12:42 GMT -5
I thought bells were for another beer.....
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Post by safetalker on May 6, 2012 19:20:53 GMT -5
The other reason is that if you can pump 1,000 barrels a day, but can only refine 500 barrels due to emissions ceilings and footprint ratios the cost is the same as far as the consumer is concerned.
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Post by Michael Downing on May 6, 2012 20:21:35 GMT -5
I thought bells were for another beer.....
Yeah well Pavlov's dogs might have been conditioned with food but I have been conditioned to beer...
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Post by stoner44magnum on May 7, 2012 4:05:36 GMT -5
I did the grocery shopping for the first time in the almost 8 years my wife and I have been married and brought home a receipt for $280. I did not get anything to speak of regarding our prepping, just a few extra cans of soup to rotate. I thought that was pretty ridiculous considering how little I bought. I get home and my wife tells me that when she gets all the prep stuff she does every week, food, ammo, etc., that the bill usually tops $400! I knew grocery prices had gone up but I guess seeing it first hand really drove it home for me. Two weekends ago I had to get gas for the mower, log splitter, brush chipper, and chainsaws. I filled two 5 gallons cans and filled my pick up the rest of the way @5/8 a tank and it was $100.
We are not poor by any stretch of the imagination, we do pretty well, both of us being truck drivers, but how much longer are folks of limited means going to be able to hang on with the economy in such shape?
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