Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Oil went from $87 a barrel to $81.62 today.

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread		 This topic is archived.
Home » Discuss » General Discussion Donate to DU
 
pwb Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-18-11 02:33 PM
Original message
Oil went from $87 a barrel to $81.62 today.
The market went down 463 points today.

If only the stock market would go up when oil prices go down we may start to recover from this mess.

Unfortunately they both seem to go up or down together.

One thing for sure is gas goes up faster than it goes down when the price changes on wall street.. those profits are hard to give up for our Corporation People.
Printer Friendly | Permalink |  | Top
banned from Kos Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-18-11 02:37 PM
Response to Original message
1. Inflation! (sarcasm intended) If we double dip its headed to $50/bbl
natgas back to $3 (from $10 in 2005) and food prices will resume their fall (the commodities - not a bag of 6-oz cheese).
Printer Friendly | Permalink |  | Top
 
pwb Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-18-11 02:42 PM
Response to Reply #1
4. Food prices should go down.
You got that right, they went up when fuel went up, makes sense they should go down now. It would be nice to pay what things cost plus a little profit, instead of paying what people are willing to pay.
Printer Friendly | Permalink |  | Top
 
Paper Roses Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-18-11 02:38 PM
Response to Original message
2. Sorry for those DUers invested in oil but:
If the price per gallon keeps going down...and I hope it does, maybe I will be able to heat my house this winter. This old lady is scared stiff.
Heat?
RE Taxes?
Food?
Bills?
Medical care

Such a choice!
Printer Friendly | Permalink |  | Top
 
rurallib Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-18-11 02:40 PM
Response to Original message
3. we lost 9 cents a gallon on the last fall
at that rate, I figure when oil hits $10/bbl, gas will be @$3.10/gal.
Printer Friendly | Permalink |  | Top
 
pwb Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-18-11 02:44 PM
Response to Reply #3
6. good one..
Printer Friendly | Permalink |  | Top
 
the other one Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-18-11 02:42 PM
Response to Original message
5. Oil can't go below $60 bbl
It ceases to be profitable for the oil companies to look for it, and for the refiners to uh refine it. The sweet spot for the industry is between $60 - $90. Less then that kills profit, more than that kills demand.
Printer Friendly | Permalink |  | Top
 
Ikonoklast Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-18-11 02:47 PM
Response to Reply #5
7. Not if real Deflation takes hold.
That is starting to worry me, as Deflation is much more difficult to fix than Inflation.
Printer Friendly | Permalink |  | Top
 
sfpcjock Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-18-11 02:54 PM
Response to Original message
8. Oil has fallen in the toy-toy, and they're still asking almost $4 for the gas.
Edited on Thu Aug-18-11 03:36 PM by sfpcjock
I think it was $1.85 before Dubya threw out the inspectors and started wars in the wrong countries at the wrong times on false trumped-up information. This is what Republicans do, kids.
Printer Friendly | Permalink |  | Top
 
pwb Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-18-11 03:01 PM
Response to Reply #8
10. Can't argue with that.
The puke wars started the gas rise just like they knew it would. Evil people for sure.
Printer Friendly | Permalink |  | Top
 
izquierdista Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-18-11 03:51 PM
Response to Reply #8
16. But he gave them $300!
Did you ever ask Bubba how much of his $300 Bush tax cut he spent on gas? I bet he has no idea.
Printer Friendly | Permalink |  | Top
 
Broderick Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-18-11 03:01 PM
Response to Original message
9. huh?
the pump prices are basically controlled by Wall Street. Not the Corporations.
Printer Friendly | Permalink |  | Top
 
pwb Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-18-11 03:08 PM
Response to Reply #9
11. What ? If that was the case gas would be down 30 cents today alone.
You may want to rethink that .
Printer Friendly | Permalink |  | Top
 
Broderick Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-18-11 03:35 PM
Response to Reply #11
13. NO silly
The gas pump price is not dictated by the barrel price but it influences wall street and the rack pricing on the commodity market. You might want to do your research. Energy commodities. http://www.bloomberg.com/markets/commodities/futures/

LMAO
Printer Friendly | Permalink |  | Top
 
ChairmanAgnostic Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-18-11 03:30 PM
Response to Original message
12. gas is still $4 in Chicago
the same when oil hit $150.

Printer Friendly | Permalink |  | Top
 
Broderick Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-18-11 03:37 PM
Response to Reply #12
14. Terminal pricing has went up 18 cents in Virginia this last week
But it fell 40 cents or so the week before and station inventory and the quick rise never really gave more than a 20 cent relief at the pump.
Printer Friendly | Permalink |  | Top
 
sfpcjock Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-18-11 03:40 PM
Response to Reply #12
15. It's some kind of a rachet using advance-only derivatives...
Edited on Thu Aug-18-11 03:41 PM by sfpcjock
for speculation. All they want is a shock of any type, and immediately descend with $ Trillions of bankster funny money to jack up a basic commodity like oil or food that ripples through the entire economy, and satisfies their greed/quarterly report mentalities.

Now oil is going down in price, so these massive institutions drop out of the sky and start buying $ Billions in futures contracts to keep the rachet up.
Printer Friendly | Permalink |  | Top
 
dkofos Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-18-11 03:59 PM
Response to Original message
17. $2.00 a gallon gas is just around the corner. I guess bachmann was right.
Printer Friendly | Permalink |  | Top
 
Broderick Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-18-11 04:40 PM
Response to Reply #17
18. Depends on demand
and what wall street squeezes out on commodity pricing to see how long it takes to filter down, based on the barrel price being in a more stable pricing at these low ranges. Right now people are stuck on many futures at the commodity level I gather. Oddly, the price of the barrel fell while commodity prices seemed to rise a bit this past week. Not uncommon, but it is so volatile. I hope the big boys get hurt in the process. HAHA.
Printer Friendly | Permalink |  | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Thu May 02nd 2024, 08:10 PM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » General Discussion Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC