Article

2008-07-08 Home Front Economy

Oil prices slump to 136 dollars per barrel on demand fears

Archived material is restricted to Rantburg regulars and members. If you need access email fred.pruitt=at=gmail.com with your nick to be added to the members list. There is no charge to join Rantburg as a member.

Posted by tu3031 2008-07-08 14:49|| || Front Page|| [5 views ] Top

#1 This might be the first cracks in the dam of overpriced oil. Something the real oil experts have been pointing out for a long time--that there is no reason for oil prices to be this high, except in a speculative bubble.

So the question becomes, how low will oil go when there is a stampede to sell?

Posted by Anonymoose 2008-07-08 19:44|| 2008-07-08 19:44|| Front Page Top

#2 I don't know, but I hope a lot of speculators lose their asses (and kneecaps and homes) when they can't pay their shorts

Posted by Frank G">Frank G 2008-07-08 19:56|| 2008-07-08 19:56|| Front Page Top

#3 Saw a chsrt of the last year or so and this is not out of line with normal variability. If it continues tomorrow that's starting to get exceptional. Chinese and Indians have reduced subsidization of oil prices for domestic purposes. That will have an effect.

NOW IS THE TIME TO PASS THE OIL IMPORT FLOOR TARRIFF. KEEP OIL ABOVE $100 PER BARREL.

Posted by Nimble Spemble 2008-07-08 20:27|| 2008-07-08 20:27|| Front Page Top

#4 Its US$4.92 for regular now here in Guam.

FOX NEWS > reports that as per Perts the DTERIMENTAL SCALAR EFFECTS/CONSEQUENCES OF GLOBAL WARMING WILL LIKELY NOT MANIFEST OR APPEAR WORLDWIDE FOR ANOTHER TWENTY YEARS [NLT 2030 r.o.?]???

Posted by JosephMendiola 2008-07-08 21:51|| 2008-07-08 21:51|| Front Page Top

23:49 Omomoter Sforza1119
23:21 bigjim-ky
23:20 bigjim-ky
23:18 Some guy
23:13 bigjim-ky
23:11 bigjim-ky
23:10 bigjim-ky
23:09 bigjim-ky
23:05 bigjim-ky
23:04 bigjim-ky
23:03 bigjim-ky
23:02 Some guy
22:56 bigjim-ky
22:53 bigjim-ky
22:44 Abdominal Snowman
22:30 JosephMendiola
22:28 Abdominal Snowman
22:26 Old Patriot
22:20 JosephMendiola
22:14 Nimble Spemble
22:09 3dc
22:09 JosephMendiola
22:06 JosephMendiola
22:04 Alaska Paul