Oil price fall predicted
06-11-2008, 07:07 PM
#48
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06-11-2008, 07:20 PM
#49
I think I can... I think...
06-11-2008, 07:24 PM
#50
I swear, it was $3.91, then $3.95, now tonight we passed the same station and it is $3.99. All since Monday afternoon.
The Delaware stations are all just over $4.00 now.
06-11-2008, 08:11 PM
#52
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I say that all the time now, that if it was $3/gallon i would be thrilled, the sad thing is last week I thought it was great when it was down to 4.75 but the next day it went back to 4.95
06-11-2008, 08:46 PM
#53
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The truckers in Spain have started to do just that. They are refusing to haul anything and are blocking deliveries of products. Store shelves are becoming empty and gas stations are out of gas. Looks like the whole world has had enough of this game.
06-11-2008, 09:59 PM
#54
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I am skeptical about any meaningful reduction in fuel costs anytime soon. We are heading into the summer season when prices almost always rise. We are also headed into hurricane season. Nothing like a hurricane off the gulf coast - or God forbid one taking out a refinery - to ruin your whole day and drive prices toward $5 for unleaded; $6 for diesel.
The point is, our oil supply is, to an important extent, operating on the edge. We are litteraly at the mercy of folks in the Middle East that hate us - we've known this for decades and our government has stood by and refused to build refineries, aggresively develop and extract vast quantities of oil 70 miles off Florida and in ANWAR
The point is, our oil supply is, to an important extent, operating on the edge. We are litteraly at the mercy of folks in the Middle East that hate us - we've known this for decades and our government has stood by and refused to build refineries, aggresively develop and extract vast quantities of oil 70 miles off Florida and in ANWAR
06-11-2008, 11:04 PM
#55
I think I can... I think...
The point is, our oil supply is, to an important extent, operating on the edge. We are litteraly at the mercy of folks in the Middle East that hate us - we've known this for decades and our government has stood by and refused to build refineries, aggresively develop and extract vast quantities of oil 70 miles off Florida and in ANWAR
Polytiks is the ONLY reason why we don't drill more!
06-12-2008, 02:03 AM
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yup, new drilling and refineries will solve our problems. we have such supply issues that even though we're at peak driving season, U.S. refineries have cut back to 80% of capacity. supplies are so low that investment banks are hoarding millions of barrels of oil that were headed for the market, and the oil companies are sending 500,000 barrels of diesel overseas every day, and another 1 million+ barrels to mexico every month. what will likely change with new drilling, is exxon mobil's 1st quarter '08 gross income of $116.85 BILLION, will likely increase drastically. while testifying before congress, oil execs were asked point blank if new drilling would reduce fuel prices, and not a single one said the word 'yes'.
06-12-2008, 08:19 AM
#57
Advocate of getting the ban button used on him...
And of that $116.85 BILLION gross profit they ended up with a measly $10.79BILLION net profit. That is net profit which would include ALL expenses such as sponsoring events like racing etc. You know these companies donate lots of cash as tax writeoffs and Exxon STILL ends up with nearly $11 BILLION in profits!! 
And to top it off these figures are ONLY FIRST QUARTER numbers. They still have 9 months to go 
And to top it off these figures are ONLY FIRST QUARTER numbers. They still have 9 months to go
06-12-2008, 09:28 AM
#58
I think I can... I think...
And of that $116.85 BILLION gross profit they ended up with a measly $10.79BILLION net profit. That is net profit which would include ALL expenses such as sponsoring events like racing etc. You know these companies donate lots of cash as tax writeoffs and Exxon STILL ends up with nearly $11 BILLION in profits!! And to top it off these figures are ONLY FIRST QUARTER numbers. They still have 9 months to go
And to top it off these figures are ONLY FIRST QUARTER numbers. They still have 9 months to go
06-12-2008, 10:51 AM
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And of that $116.85 BILLION gross profit they ended up with a measly $10.79BILLION net profit. That is net profit which would include ALL expenses such as sponsoring events like racing etc. You know these companies donate lots of cash as tax writeoffs and Exxon STILL ends up with nearly $11 BILLION in profits!! And to top it off these figures are ONLY FIRST QUARTER numbers. They still have 9 months to go
And to top it off these figures are ONLY FIRST QUARTER numbers. They still have 9 months to go ..... on a serious note, an industry 'expert' on fox news last night, said that between manipulation by the oil companies, speculators, and investment banks, the price of oil has been artificially inflated by roughly 100%!
06-12-2008, 11:41 AM
#60
I think I can... I think...
I saw the same piece. He may have said it but, I don't remember him saying "Oil Companies" when referring to the manipulators. He did point the finger directly at the speculators and investment bankers though. This same point was made by the oil execs during the circus...I mean senate hearings.