Rickboy
Nom Nom Nom Nom.. me hungry for a SuperBowl
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Some of you jokingly, some not, have spoken up about the dive in gas prices as the election loomed near. Some said that it was an attempt by the Republicans to influence the election and that prices would climb again as soon as the election was over.
Guess what.
http://today.reuters.com/news/artic...4_RTRUKOC_0_US-MARKETS-OIL.xml&src=rss&rpc=23
Also of note in the article, something I've been saying for a while....
I'm tellin' ya, its only a matter of time. OPEC members are not going to stick with the new lower quotas because it would be stupid. Prices are still way to high to justify any type of cutback. It would be robbing themselves. No, you won't see any real OPEC cutbacks until prices get below $40. IMO, $40 is a fair price and gas should hover into the $1.50ish range (assuming no production, refining, or transportation issues)
Guess what.
http://today.reuters.com/news/artic...4_RTRUKOC_0_US-MARKETS-OIL.xml&src=rss&rpc=23
LONDON (Reuters) - Oil briefly dropped below $55 Friday to its lowest level since mid-2005 amid fund selling across commodity markets on worries of an economic slowdown in the world's largest energy consumer, the United States.
Also of note in the article, something I've been saying for a while....
"This fall also speaks of a well supplied crude market and a warmer outlook in the U.S., and with those conditions maybe the market is starting to wake up to the fact that prices shouldn't be near $60."
I'm tellin' ya, its only a matter of time. OPEC members are not going to stick with the new lower quotas because it would be stupid. Prices are still way to high to justify any type of cutback. It would be robbing themselves. No, you won't see any real OPEC cutbacks until prices get below $40. IMO, $40 is a fair price and gas should hover into the $1.50ish range (assuming no production, refining, or transportation issues)