Page 1 of 3 123 LastLast
Results 1 to 9 of 22

Thread: Oil hits $119 per barrel

  1. #1
    Olympic Champ
    Join Date
    Mar 2007
    Location
    On the forums
    Posts
    8,345

    Default Oil hits $119 per barrel

    Oil's seemingly relentless march higher this year raises the specter of higher inflation that would lead consumers to cut back their discretionary spending. It would also make the Federal Reserve less likely to keep lowering interest rates.

    Light, sweet crude rose $1.95 to $119.43 at midday, having slipped back in the normal ebb and flow of trading. But it appeared inevitable that crude would pass $120 and keep rising.

    http://news.yahoo.com/s/ap/20080422/...PWFXrF2Tms0NUE

  2. #2

    Default Re: Oil hits $119 per barrel

    Hopefully somone can help here.....With inflation over the past 20 years or so are we really paying more now in gas now?

  3. #3

    Default Re: Oil hits $119 per barrel

    Todays edition of USA Today, lead article of money section, states that the average nationwide price per gallon of $3.508 for regular unleaded, eclipsed the previous inflation adjusted average price record of $3.413 set in March 1981.
    Bush will be remembered much along the same line as Carter for the damage that he has wrought on our economy.

  4. #4

    Default Re: Oil hits $119 per barrel

    Quote Originally Posted by hardcore View Post
    Todays edition of USA Today, lead article of money section, states that the average nationwide price per gallon of $3.508 for regular unleaded, eclipsed the previous inflation adjusted average price record of $3.413 set in March 1981.
    Bush will be remembered much along the same line as Carter for the damage that he has wrought on our economy.
    Only by those who don't understand economics. MIddle class discretionary income is still higher now than it was when Bush took office. Carter can't say that. Clinton can't, either.

  5. #5

    Default Re: Oil hits $119 per barrel

    Yep. Everything is looking great for the middle class. Everyone is reaping the rewards of the booming economy. How could I not see it.

  6. #6
    Olympic Champ RYou's Avatar
    Join Date
    Mar 2007
    Location
    New Jersey
    Posts
    8,376

    Default Re: Oil hits $119 per barrel

    I think it is pretty clear that virtually every business that relies on the oil or gasoline or natural gas is playing in the hedge market. The gains made from hedging offset the actual cost paid and is the reason prices and inflation have not followed on the rocket tail of oil. Those that haven't, some airlines for example, are the ones in deep dodo right now. The businesses with big layoffs right now are primarily financials that bombed out with mortgages.

    Honestly, I think much of the recession hype in the media is the cause of concern and influencing consumerism. Let this credit crunch play out and we should be okay. Canada has none of the issues we see here in the US yet the population relies on the same markets, except in banking and their banks have not been sucked into the US problem.

  7. #7
    Olympic Champ
    Join Date
    Mar 2007
    Location
    On the forums
    Posts
    8,345

    Default Re: Oil hits $119 per barrel

    Canada has none of the issues we see here in the US

    Canada is more socialist.

  8. #8
    Olympic Champ RYou's Avatar
    Join Date
    Mar 2007
    Location
    New Jersey
    Posts
    8,376

    Default Re: Oil hits $119 per barrel

    Quote Originally Posted by Big View Post
    Canada has none of the issues we see here in the US

    Canada is more socialist.
    The only socialist aspect of Canada is the healthcare system and if you talk to anyone up there it's a nightmare, unless you buy a supplementary private insurance policy.

  9. #9

    Default Re: Oil hits $119 per barrel

    "The only socialist aspect of Canada is the healthcare system"
    -Plus the education system, the law enforcement system, the national defence system, the infrastructure system...

    "and if you talk to anyone up there it's a nightmare, unless you buy a supplementary private insurance policy."
    -How does is compare to our system for people who don't buy private insurance?
    There's no such thing as a pretty good aligator wrestler.

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •