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Thread: Oil going thru the roof

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  1. #1

    Default Oil going thru the roof

    We're all about to get screwed. I wouldn't be surprised if it hits $100 again. Of course, the summer driving is an excuse for those specualtors who don't give a crap about the citizens.

    http://finance.yahoo.com/news/Oil-ri...2&asset=&ccode

    NEW YORK (AP) -- Oil prices rose above $85 a barrel Thursday, boosted by encouraging economic news and rising stock markets ahead of the Good Friday holiday.
    <!-- Article Related Media -->Benchmark crude for May delivery rose $1.14 to $84.90 a barrel on the New York Mercantile Exchange. Earlier, crude reached $85.22, the highest level since January. Crude prices have been locked in a range of $70 to $85 for most of the last six months.

  2. #2

    Default Re: Oil going thru the roof

    I don't know for sure, but I'm willing to bet you blamed Bush when it skyrocketed a couple of years ago. Do you blame Obama now?

  3. #3

    Default Re: Oil going thru the roof

    Quote Originally Posted by quinn14 View Post
    I don't know for sure, but I'm willing to bet you blamed Bush when it skyrocketed a couple of years ago. Do you blame Obama now?
    One thing I'm sure of, you have issues. Must be tough walking around miserable every day.

  4. #4

    Default Re: Oil going thru the roof

    Quote Originally Posted by washed up wrestler View Post
    One thing I'm sure of, you have issues. Must be tough walking around miserable every day.

    My happiness isn't the issue. Did you or did you not blame Bush when it happened a couple of years ago? And if so, why not Obama now.

  5. #5

    Default Re: Oil going thru the roof

    Quote Originally Posted by quinn14 View Post
    Did you or did you not blame Bush when it happened a couple of years ago? And if so, why not Obama now.
    I didn't think it was all Bush's fault (though I can't imagine war in oil producing regions helped much) but Bush had been in office 6 years when oil started going way up, Obama's been in a little over 1.
    There's no such thing as a pretty good aligator wrestler.

  6. #6
    Olympic Champ RYou's Avatar
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    Default Re: Oil going thru the roof

    It wasn't Bush and it isn't Obama, it's the Chinese demand. So much of the global goods are produced in China now with they're inefficient production, they drive the price. They have supply contracts with So America that virtually consume every barrel pumped. As the economy recovers so with their need to buy from markets other than So America and the price will continually increase. Throw in your oil speculators in the oil commodity markets and we're back to where we were a couple of years ago. Gasoline prices will be up 10% by the end of April, maybe another 10% by end of May.

    Oil stocks are good investment once again.
    Life's not the breaths you take, the breathing in and out that gets you through the day ain't what it's all about. It's the moments that take your breath away.

  7. #7

    Default Re: Oil going thru the roof

    Quote Originally Posted by RYou View Post
    It wasn't Bush and it isn't Obama, it's the Chinese demand. So much of the global goods are produced in China now with they're inefficient production, they drive the price. They have supply contracts with So America that virtually consume every barrel pumped. As the economy recovers so with their need to buy from markets other than So America and the price will continually increase. Throw in your oil speculators in the oil commodity markets and we're back to where we were a couple of years ago. Gasoline prices will be up 10% by the end of April, maybe another 10% by end of May.

    Oil stocks are good investment once again.

    I agree with you. I just remember everyone blaming Bush a couple of years ago. Even when rational people said that it wasn't his fault, MSNBC and the like, blamed Bush for lining the pockets of his oil buddies.

    I think it is hilarious that no one is saying that about Obama. The press and the far left and hypocrites. Do they really think that people are going to forget what they said when Bush was in the White House?

  8. #8
    NCAA Champ WhippetGrappler's Avatar
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    Default Re: Oil going thru the roof

    This is so crazy. Most of these price increases have nothing to do with demand. It is speculators driving up the price.
    BRUTUS BUCKEYE WILL TAKE YOU DOWN...

  9. #9
    Olympic Champ RYou's Avatar
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    Default Re: Oil going thru the roof

    Quote Originally Posted by WhippetGrappler View Post
    This is so crazy. Most of these price increases have nothing to do with demand. It is speculators driving up the price.
    Yes, the speculators have a heavy hand, but you still need demand for them to work the scheme or it won't work. You still need someone to take possession of the contracts, otherwise the price will remain flat.
    Life's not the breaths you take, the breathing in and out that gets you through the day ain't what it's all about. It's the moments that take your breath away.

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