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  1. #1
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    Smile Oil at $50 barrel

    Crude oil prices have dropped at $50 barrel. I mean wtf is going on!!!!


    http://www.contracostatimes.com/mld/...s/16496945.htm

    Crude oil dips below $50
    Price per barrel at lowest point in year and a half but consumers not likely to see drop at pump for a few more weeks

  2. #2
    this is good news... but petrol price at my country havent drop yet ...
    been paying extra for that.

  3. #3
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    Finally something good to look forward to at the gas station!
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  4. #4
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    Quote Originally Posted by mahinder
    Crude oil prices have dropped at $50 barrel. I mean wtf is going on!!!!


    http://www.contracostatimes.com/mld/...s/16496945.htm
    Bush must be running for president again and in a good conspiratorial fashion , he's having the big oil companies helping him in his quest for the white house again.

  5. #5
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    When crude oil prices dip, it usually takes six to eight weeks for retail prices of gas to fall, said Severin Borenstein, director of the University of California Energy Institute. On the other hand, when crude oil prices spike, it takes retail prices two to four weeks to catch up.
    That's an utter BS statement. The day higher oil prices are announced gas prices hike accordingly...it's only when the price dips again that it slowly lowers at the pump pricing...

  6. #6
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    I filled up this morning. $2.35 a gallon. I see no drop in my price.
    My IP >> 127.0.0.1 Hack Away!!

  7. #7
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    Yesterday, in the 'burbs of Chicago, it was $2.19 for regular.
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  8. #8
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    £45 ($90) to fill up 10 minutes ago.
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  9. #9
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    Quote Originally Posted by bear
    That's an utter BS statement. The day higher oil prices are announced gas prices hike accordingly...it's only when the price dips again that it slowly lowers at the pump pricing...
    That is true. By the time they go down. The prices are up again.

  10. #10
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    exactly, i am also paying same price as our government decided when it was about $62-$65 barrel. Petrol price is not going to come down in India.

  11. #11
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    $.85/liter here. About $2.75USD/gallon. Cheapest it's been in like a year.
    Can you be scared half to death twice?

  12. #12
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    filled up this morning at 1.99 $ us per gallon
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  13. #13
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    I work in the oil field, so higher oil prices mean i have a job, i quit bitching about gas prices
    ................

  14. #14
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    $1.96 - $1.99 / gallon here in Fort Worth, TX. I'm pretty sure opec will try and decrease their production to inflate the price of oil.
    Kerry Jones

  15. #15
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  16. #16
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    Quote Originally Posted by Kerry Jones
    $1.96 - $1.99 / gallon here in Fort Worth, TX. I'm pretty sure opec will try and decrease their production to inflate the price of oil.
    And they really should. As much as people may hate the price of oil/gas going up, lets face it, consumption needs to be reduced (as ineffective as raising the price may be granted, but at least they could funnel the boatloads of extra $ into building other sustainable technologies).

  17. #17
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    And they really should. As much as people may hate the price of oil/gas going up, lets face it, consumption needs to be reduced (as ineffective as raising the price may be granted, but at least they could funnel the boatloads of extra $ into building other sustainable technologies).
    Would you really want to put the burden on the poor, because thats exactly what you would be doing and making the rich even more rich. Isn't it bad enough that the oil companies consume enough of the poor's money to become even more greedy?
    Kerry Jones

  18. #18
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    Quote Originally Posted by Kerry Jones
    Would you really want to put the burden on the poor, because thats exactly what you would be doing and making the rich even more rich. Isn't it bad enough that the oil companies consume enough of the poor's money to become even more greedy?
    I'd rather put a relatively small burden on everyone now, then put a massive burden on everyone a decade down the road.

    I'm saying consumption needs to be cut back, and energy sources need to be diversified; I'm not saying the oil industry would act responsibly given such an opportunity.

  19. #19
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    Quote Originally Posted by Kerry Jones
    $1.96 - $1.99 / gallon here in Fort Worth, TX. I'm pretty sure opec will try and decrease their production to inflate the price of oil.
    Actually this indeed do not works like that. When opec suggest productions cut it is actually not implemented by many miners because they have contracts with companies, projects to be continued, salaries to be paid and lack or production disturbs their cash flow and effects their production capacity significantly in future. I heard on CNBC that their oil countries work around is built up on oil price at $55 / barrel so they will work hard to stretch oil price to $55 / barrel.

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