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| Oil back over $46 even as US sees deeper recession |
| 2009-01-27 |
| Oil prices crawled back above $46 a barrel Monday after falling more than $1 as White House officials warned the US recession would likely worsen in coming months, undermining demand for crude. Light, sweet crude for March delivery rose 25 cents to $46.72 a barrel by midday in Europe in electronic trading on the New York Mercantile Exchange. The contract rose Friday $2.80 to settle at $46.47. Earlier Monday, it fell to $45.25 before recovering. In London, the March Brent contract was up 32 cents to $48.69 on the ICE Futures exchange. Monday's recovery continued last week's trend, which saw the Nymex contract gain over 9 percent even as demand concerns magnified, confounding market experts. |
| Posted by:Fred |
| #8 The founding fathers of this country scrapped a whole system run by Tories, they didn't have the Civil Service issue though. |
| Posted by: Pliny Thaque6098 2009-01-27 20:53 |
| #7 OP, To do that you'd need other people to do the work. People who have experience putting back a country from scratch. People who don't want to stay in that business but willingly if not happily give up that power to someone else when the whole enchilada starts running itself again. Sorta of like Germany, Japan, Iraq. Now who do we have who can do stuff like that? Oh, wait, never mind. |
| Posted by: Procopius2k 2009-01-27 19:31 |
| #6 You just can' win. I'd be real interested in just scrapping the lot of them and starting anew. The only way to do that, bigjim, is to kill off those in power (down to the County level), and tell any that want to take over the job the same thing can happen to them unless they refrain from crooked behavior. You'd also have to scrap virtually the entire Civil Service (not a really bad idea, btw) and build something that actually WORKS in its place. The resistance to that would be astronomical, but failing to do it won't eliminate the problem. |
| Posted by: Old Patriot 2009-01-27 16:23 |
| #5 Or the pols telling us out of one side of their mouth that Americans don't save enough, so its our fault. Then out of the other side of their mouth telling us that our economy will be destroyed if we quit spending?!? You just can' win. I'd be real interested in just scrapping the lot of them and starting anew. |
| Posted by: bigjim-ky 2009-01-27 13:01 |
| #4 Let me get this straight: Demand goes down, so price increases? Any different than the pols telling people to cut back on water or utility usage and then turn around when it happens and say they have to increase rates because of bond obligations [not being paid at the committed rate predicated upon the higher usage]? |
| Posted by: Procopius2k 2009-01-27 12:04 |
| #3 Let me get this straight: Demand goes down, so price increases? I give the hell up. Last week a I heard of at least one offshore drilling company that was laying off thousands of people because of the recession and the drop in oil prices. |
| Posted by: Thing From Snowy Mountain 2009-01-27 09:26 |
| #2 OPEC will manipulate the supply until their target price of $75 is reached. That's $350 billion per year leaving our economy. The greatest impact most Americans can have to defeat this latest incarnation of the muslims' jihad is make their next car purchase a high mileage one. |
| Posted by: ed 2009-01-27 06:37 |
| #1 ...Let me get this straight: Demand goes down, so price increases? I give the hell up. Mike |
| Posted by: Mike Kozlowski 2009-01-27 06:06 |