Friday, August 08, 2008

Is the worst finally over???

PAPER: Oil bubble has burst!
Dips on stronger dollar, drops below $114...
Euro Falls Most in Eight Years...

Posted by The Game at 11:12 AM

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7 comments:

Anonymous said...

and what changed? people started driving less, demand fell. ergo prices fell.

what a concept!

August 08, 2008 10:40 PM
The Game said...

so you admit to the concept of supply and demand controlling prices...
Just remember that the word SUPPLY is half the equation.

August 09, 2008 9:54 AM
Anonymous said...

first off, you're using a european source, when america's situation is quite different, unique, and on a much wider scale, particularly with heating season upon us

this is not even a trend, it's a hiccup!

secondly, think of our dollar as "stronger, but not yet strong"

acknowledging that industry and goverment are still too frigteningly intertwined, and preparing for the disasterous effect a potential obama victory will have, are all far more important

unfortunately, home heating oil and natural gas prices appear ready to go through the roof

this should be every american homeowner's priority, particularly investing in portable electric radiators to supplement family heating needs most flexibly, while the radiators are still available in big box stores most inexpensively

budgeting for early winter energy costs for primary central heating should be next, along with weatherstripping and insulation checks immediately following labor day

at least we can watch the election returns, knowing we've done all we reasonably can for our families, on a practical basis

August 09, 2008 10:28 AM
Anonymous said...

never said it didn't. i took economics, too. but the supply can be manipulated very easily by opec and if us oil companies wanted to provide more oil, they could produce if from the millions of acres of leases they already own. by driving less and buying more fuel efficient cars, american consumers can have leverage in the equation.

as you can see, the ones who benefit from high oil prices are the oil companies, like $12 billion in quarterly profits. do you think they want more supply? if they do why don't the drill for it. 40-60 million acres of untapped offshore leases. why is that?

August 09, 2008 11:22 AM
The Game said...

I will agree that if all these acres of land have oil that is easily to get at and we are simply not getting it, oil companies are to blame. I can't believe that they would do that, so until there is proof that this land has the oil I'll believe that this liberal theory is crap.
I'll go with the theory that the oil is very hard to get to or not enough in a particular area to make drilling profitable.

August 10, 2008 11:15 AM
PCD said...

Would you anonymous liberals be willing to put your citizenship on the line to back your lies? IE: The oil companies drill one hole in on one of their unused leases. It come up dry. You forfeit your citizenship and have to move to Zimbabwe.

August 10, 2008 3:02 PM
Anonymous said...

the 40-60 million acres (i've heard 44 and 68) currently under lease by the oil companies were not forced on them. they chose to lease them because they believed they had potential for production.

so if they want to produce more oil, let then drill and produce on the acres they already lease.

"I can't believe that they would do that" why not? if more drilling lowers prices, what would be the oil companies' motive for wanting lower prices?

August 10, 2008 9:52 PM

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