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- oil drops below 50 dollars
Jan 5th, 2015 at 2:35pm
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- oil drops below 50 dollars
  

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Re: - oil drops below 50 dollars
Reply #1 - Jan 5th, 2015 at 2:41pm
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- exciting good news or something scary?
  

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glen65
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Re: - oil drops below 50 dollars
Reply #2 - Jan 5th, 2015 at 2:48pm
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Likely just a temporary, don't get too used to it.
However if the prices were stay close to where they are, it's not going to help those manufacturing electric and hybrid vehicles.
  
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Re: - oil drops below 50 dollars
Reply #3 - Jan 5th, 2015 at 3:37pm
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glen65 wrote on Jan 5th, 2015 at 2:48pm:
Likely just a temporary, don't get too used to it.
However if the prices were stay close to where they are, it's not going to help those manufacturing electric and hybrid vehicles.

I remember gas was 87 cent a gallon  in 2002 a barrel of oil was 27 dollars At 50 dollars a barrel shouldn't it be much cheaper at the pump? Undecided Undecided
  

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Re: - oil drops below 50 dollars
Reply #4 - Jan 5th, 2015 at 4:12pm
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Redbeard wrote on Jan 5th, 2015 at 3:37pm:
I remember gas was 87 cent a gallon in 2002 a barrel of oil was 27 dollars At 50 dollars a barrel shouldn't it be much cheaper at the pump? Undecided Undecided


The gas available at the pump today was refined from oil that cost more than $50 a barrel.
  
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Re: - oil drops below 50 dollars
Reply #5 - Jan 5th, 2015 at 7:41pm
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Remember a yo yo goes both ways.  But taxes always goes up.
  

Only a fool think we can give free health care and not have our premiums skyrocket every year.
"Where is the $2,500 in savings Democrats and Obama promised me?" 

Obama on FBI: We Don't Operate on Innuendo.  LOL 
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Re: - oil drops below 50 dollars
Reply #6 - Jan 5th, 2015 at 10:19pm
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admin wrote on Jan 5th, 2015 at 2:41pm:
- exciting good news or something scary?

I dont doubt that the government or even the states may see an opening to raise federal or state gasoline tax.
If we become energy independent, and have a surplus to sell, I would hope gas would cost about $1.50 at the most in this country. That is if the tax and spend politicians dont whack us for more tax.
This lower cost has something to do with OPEC and the Arabs wanting to hurt the oil companies. I am sure some of you all heard about it. Enjoy it while we can.
Smiley
  

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Tizzy Zune
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Re: - oil drops below 50 dollars
Reply #7 - Jan 6th, 2015 at 8:19am
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The only way that the price of oil has a chance to move back up significantly is if global production slows down.  But instead, production just continues to increase in the short-term thanks to projects that were already in the works.  As a result, analysts from Morgan Stanley say that the oil glut is only going to intensify


Morgan Stanley analysts said new production will continue to ramp up at a number of fields in Brazil, West Africa, Canada and in the U.S. Gulf of Mexico as well as U.S. shale production. Also, the potential framework agreement with Iran could mean more Iranian oil on the market.

Yes, lower oil prices mean that we get to pay less for gasoline when we fill up our vehicles.

But as I have written about previously, anyone that believes that lower oil prices are good for the U.S. economy or for the global economy as a whole is crazy.  And these sentiments were echoed recently by Jeff Gundlach



http://www.dcclothesline.com/2015/01/06/oil-drops-50-world-financial-markets-beg...



Oil is incredibly important right now. If oil falls to around $40 a barrel then I think the yield on ten year treasury note is going to 1%. I hope it does not go to $40 because then something is very, very wrong with the world, not just the economy. The geopolitical consequences could be to put it bluntly terrifying.

http://www.zerohedge.com/news/2015-01-05/jeff-gundlach-if-oil-drops-40-geopoliti...
« Last Edit: Jan 6th, 2015 at 8:29am by »  
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Re: - oil drops below 50 dollars
Reply #8 - Jan 6th, 2015 at 9:09pm
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Interesting.
I went to the pages linked and beyond.
And, in these particular reports, it was not mentioned that Saudi is dumping oil and that less productive production, ie: fracking; oil sands; hard wells to pump; etc., are being temporarily shut down.
Everything is taking a big hit.
And - nobody seems to be able to predict squat except that they are all sure the prices are going to continue to fall.

We live in interesting times. 
How come everything becomes less expensive the more money the "1%" makes?
Huh
  

"There is no way this winter is ever going to end as long as that groundhog keeps seeing his shadow.  I don't see any way out of it.  He's got to be stopped.  And I have to stop him."http://lifeisbeautifulallthetime.blogspot.com/
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Re: - oil drops below 50 dollars
Reply #9 - Jan 6th, 2015 at 10:18pm
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Moishe3rd wrote on Jan 6th, 2015 at 9:09pm:
Interesting.
I went to the pages linked and beyond.
And, in these particular reports, it was not mentioned that Saudi is dumping oil and that less productive production, ie: fracking; oil sands; hard wells to pump; etc., are being temporarily shut down.
Everything is taking a big hit.
And - nobody seems to be able to predict squat except that they are all sure the prices are going to continue to fall.

We live in interesting times.
How come everything becomes less expensive the more money the "1%" makes?
Huh



Rabbi oil is not everything.  But then a lot of things do have to do with oil.
  

Only a fool think we can give free health care and not have our premiums skyrocket every year.
"Where is the $2,500 in savings Democrats and Obama promised me?" 

Obama on FBI: We Don't Operate on Innuendo.  LOL 
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