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$50 a barrel

Discussion in 'Issues Around the World' started by ethics, Oct 15, 2007.

  1. Greg

    Greg Full Member

    Was planning on it this week.
     
  2. jfcjrus

    jfcjrus Veteran Member

    Thanks for the heads-up!
    Your consumption will probably drive oil futures crazy.
    Gotta talk to my broker tomorrow. ;)
     
  3. Techie2000

    Techie2000 The crowd would sing:

  4. ethics

    ethics Pomp-Dumpster Staff Member

    Yep, no doubt. :(
     
  5. jimeez

    jimeez Thread Killer

    This is a good thing IMO. While $75/bbl may be a "fair price", it's enough to keep the creative minds and prudent politicians (oxymoron, I know) on their toes and continue to work on alternatives.
    I am with Steve; bring it on!
     
  6. ethics

    ethics Pomp-Dumpster Staff Member

    For selfish reasons, as a motorcyclist, I want nothing more than more open roads. ;)
     
  7. jimeez

    jimeez Thread Killer

    Hah! Just wait until they enact a low gasoline consumption tax for motorized vehicles that get more than 50 MPG.
     
  8. ethics

    ethics Pomp-Dumpster Staff Member

    LOL! I can see that happening only after more than 50% of the vehicles are getting that type of MPG. ;)
     
  9. jimeez

    jimeez Thread Killer

    I can't help but wonder why oil prices aren't lower than they are right now. Demand is low, supply is high. Prices should be low, shouldn't they? Why are we still hovering in the mid to high 60's?
     
  10. Greg

    Greg Full Member

    The success of the oil cartel?
     
  11. jimeez

    jimeez Thread Killer

    That's about all I can come up with.

    It will be interesting to see what the inventory numbers are. The American Petroleum Institute data is due later today and the Department of Energy's number will come out on Wednesday. Then we'll have a more clear picture.
     
  12. ethics

    ethics Pomp-Dumpster Staff Member

  13. dsl987

    dsl987 Member

    Pretty much right on. OPEC has really done a good job of enriching themselves at our expense by with holding supply to keep oil in a fairly tight range of $65-$75. If it were based on fundamentals alone it would probably be back down in the $40's.
     
  14. Greg

    Greg Full Member

    You correctly interpreted my question as rhetorical.
     

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