The Gulf oil Leak

[thirtydaZe]

So with all this oil leaking into the ocean, one would be left to believe that gas prices would be on the rise.

Here, the price seems to be going down. $2.44 in one particular location, everywhere else it's about $2.62. This is down i'd say close to .20 cents from a couple weeks ago.

So as I said, with the oil leak, and Memorial Day weekend upon us naturally we'd see prices rise. Generally with Memorial Day weekend alone.

What gives, and are we being set up for disaster?

 

[sr330daguy]

I think its all about the show Obama's putting on,its six months till Election Day,couple low fuel prices and BS stimulus projects happening = everythings wonderful.People tend to forget .Remember his campain promisis?Lots of people got suckered there.

 

[thirtydaZe]

I think its all about the show Obama's putting on,its six months till Election Day,couple low fuel prices and BS stimulus projects happening = everythings wonderful.People tend to forget .Remember his campain promisis?Lots of people got suckered there.

ole boy's approval rating seems to be moving in the wrong direction...

http://www.rasmussenreports.com/pub...ministration/daily_presidential_tracking_poll

 

[LTD.330]

Going out on a limb, I'll guess the price of oil going down probably has more to do with exchange rates between the U.S. Dollar and the Euro. All of the problems Greece has been having appears to have destabilized the Euro and the rate is currently $1.21 USD to 1 Euro. A month ago the rate was $1.33

 

[chuck1]

IMHO - I think it has to do more with the lack of recovery and the continued economic decline we are in. There was no sane reason it was at $85 a barrel. Demand has not come back yet and not sure when it will.

 

[chuck1]

Going out on a limb, I'll guess the price of oil going down probably has more to do with exchange rates between the U.S. Dollar and the Euro. All of the problems Greece has been having appears to have destabilized the Euro and the rate is currently $1.21 USD to 1 Euro. A month ago the rate was $1.33

I'll second that too:thumbsup:

 

[thirtydaZe]

IMHO - I think it has to do more with the lack of recovery and the continued economic decline we are in. There was no sane reason it was at $85 a barrel. Demand has not come back yet and not sure when it will.

i can tell you one thing, in our house demand is certainly on the rise!

traveling to and from the marina, topped off with boat fillings really lets ya know you're alive.....

 

[Chris R]

Sometime last week I read, where all the oil that had leaked at that point in time, was only about 7 minutes worth of U.S. consumption. If that is accurate, I'm not sure it makes much diff.

 

[chuck1]

i can tell you one thing, in our house demand is certainly on the rise!

traveling to and from the marina, topped off with boat fillings really lets ya know you're alive.....

As they say "Count your blessing" You may be the exception to the rule. There was an interesting article the other day about WalMart's increase in sales the past quarter. The jest of it was that the increase was not in discretionary spending, but in basic food/house hold items and people were not paying with cash or credit but a major increase in food stamps or ebt cards.

 

[popeye]

IMHO - I think it has to do more with the lack of recovery and the continued economic decline we are in. There was no sane reason it was at $85 a barrel. Demand has not come back yet and not sure when it will.

I will third that and add the monetary problems (sovereign debt) all over Europe are having a negative inpackt on economic conditions and oil prices world wide...Just the fear of a double dip in Europe was enough to knock $10.00 a barrel off the price. I happen to think Europe will be to world markets what "sub-Prime mortgages" were to the American economy...Much worse than advertised....

 

[highslice]

I will third that and add the monetary problems (sovereign debt) all over Europe are having a negative inpackt on economic conditions and oil prices world wide...Just the fear of a double dip in Europe was enough to knock $10.00 a barrel off the price. I happen to think Europe will be to world markets what "sub-Prime mortgages" were to the American economy...Much worse than advertised....

At the rate our debt is growing, it won't be long until we're in the same boat. Whose going to bail us out then?

 

[thirtydaZe]

As they say "Count your blessing" You may be the exception to the rule. There was an interesting article the other day about WalMart's increase in sales the past quarter. The jest of it was that the increase was not in discretionary spending, but in basic food/house hold items and people were not paying with cash or credit but a major increase in food stamps or ebt cards.

was only referring to how our gas spending rises dramatically when summer comes around.

 

[popeye]

At the rate our debt is growing, it won't be long until we're in the same boat. Whose going to bail us out then?

There is no one left-The golden rule will come into play big time-Those who have the gold, RULE....:thumbsup:

 

[jrock1062]

Oil is priced in dollars so higher dollar lower Oil that and the fact that Europe is a mess and doesn't have any money while a few countries are looking to pull out of the Euro Not to mention Oil consumption is down world wide

Our national debt will soon make us a third world country

We really need a new government

 

[Uplate]

I can tell you that the amount of biz in the local BP stations around here is nill.

Consumers are letting them know that this is f**ked up and will not support buying ther gas.

 

[sr330daguy]

I read this this morning,how much more can we take?
WASHINGTON -- The House may vote today on a massive package of tax cuts and spending that includes a big jump in the tax on oil.

The roughly $200 billion package would extend jobless benefits and health insurance subsidies for those out of work. It would also extend some popular tax breaks that expired at the end of last year.

And with frustration growing over the ongoing oil spill in the Gulf of Mexico, the measure includes a quadrupling of the tax on oil, from 8 cents a barrel to 32 cents. It would raise nearly $11 billion over the next decade to be used to pay for cleaning up spills.

Elsewhere on Capitol Hill today, hearings on the oil spill focus on the government's response, as well as liability and financial responsibility for what's expected to be a massive environmental impact.

 

[Woody]

Now BP has concerns whether the damaged blowout preventer can withstand the pressures generated by the "top kill" procedure. It could mean aborting the attempt altogether. Does anyone here know what the pressure of the well itself is?