skybiker
Veteran Author
South Carolina
Posts:387
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Message Posted:
12/2/2008 11:35:45 AM
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Down to $49 a barrel today.........
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foxesfords
Sophomore Author
Atlanta
Posts:226
Points:63,700
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Message Posted:
12/2/2008 9:36:41 AM
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Pump, Baby, Pump!!!!!!!!!!!!!!
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laoloup
Sophomore Author
Montreal
Posts:114
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Message Posted:
12/2/2008 9:35:29 AM
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Today's problem is not the supply side but the demand side. They know perfectly well production cut won't get them more $s.
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ardmoretoday
Champion Author
Oklahoma
Posts:1,104
Points:504,165
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Message Posted:
12/2/2008 9:28:22 AM
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Old News
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farmersboy
Veteran Author
Madison
Posts:366
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Message Posted:
12/2/2008 8:30:21 AM
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Keep your gas
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farmersboy
Veteran Author
Madison
Posts:366
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Joined:Oct 2008
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Message Posted:
12/2/2008 8:30:03 AM
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Keep your gas
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BartBuzz
Veteran Author
Atlanta
Posts:416
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Message Posted:
12/2/2008 8:12:56 AM
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This site is slow and sluggish today. Must be because of all the OLD news. Oil was under $50 yesterday.
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RochBear
Champion Author
Minnesota
Posts:1,918
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Message Posted:
12/2/2008 8:10:20 AM
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Oil is below $50.
Enjoy it while it lasts, wear your SUV out, and then replace it with a gas sipper. It may only be $1.75 gallon for gas, but if you use half as much gas, you are still saving half of your gas expence. So it's always cheaper to conserve.
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Lonewolftx
Champion Author
Houston
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Message Posted:
12/2/2008 8:04:04 AM
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So trying to manage a free market system eh?
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eaglev
Champion Author
Oklahoma City
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Message Posted:
12/2/2008 7:54:59 AM
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They were making money when it was $25 do they are still making double what they were just a couple of years ago. They know that if it doesn't stay low then the world wide depression will happen and they will not keep selling oil. Alternative fuel will take over so much faster when they push the price up.
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94Vol
Rookie Author
Nashville
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Message Posted:
12/2/2008 7:50:53 AM
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I think the Saudi's know that if they cut production now when we are hurting they may shoot themselves in the foot. I just hope we don't stop trying to find other alternatives. It seems like everytime the price drops we stop exploring other energy sources.
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VTROCK
Sophomore Author
Detroit
Posts:176
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Message Posted:
12/2/2008 7:49:20 AM
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The Saudis are still making money even at these lower prices so they aren't going to stop pumping. Many of the other producers don't care about the worlds economy, they just want to get more money fer their oil regardless of the consequences.
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Martib1215
Veteran Author
Riverside
Posts:438
Points:83,115
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Message Posted:
12/2/2008 7:46:40 AM
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The Arabs losing a millions over months is like me losing the pocket change in my pants...hardley noticable and easy to get over. It's nice to see they're not as greedy as I had thought.
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mvosevich
Champion Author
St. Louis
Posts:1,555
Points:312,730
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Message Posted:
12/2/2008 7:45:37 AM
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Our continued conservation efforts will help stablize low prices, please keep it up.
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GasholeMI
Champion Author
Lansing
Posts:1,961
Points:158,415
Joined:Jul 2008
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Message Posted:
12/2/2008 7:40:36 AM
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Oil fell to under $50 yesterday.
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armstrmb
Champion Author
Houston
Posts:2,372
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Message Posted:
12/2/2008 7:39:45 AM
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What else (beside petroleum) does Saudi Arabia or Iran have available for export? Maybe they can rely on that to pull them through these lean times.
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Keith_1977
Veteran Author
Kentucky
Posts:304
Points:58,405
Joined:Aug 2005
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Message Posted:
12/2/2008 7:38:40 AM
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lets break them
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cdanielwyke
Veteran Author
Greensboro
Posts:317
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Message Posted:
12/2/2008 7:38:38 AM
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This is a surprising move by OPEC. Although, I can see why they would hold off on cutting production. If there were a sudden spike in demand everyone would be targeting them again like this summer.
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napermike79
All-Star Author
Twin Cities
Posts:745
Points:433,755
Joined:May 2001
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Message Posted:
12/2/2008 7:38:19 AM
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drill here now
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Arktander
All-Star Author
Illinois
Posts:772
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Message Posted:
12/2/2008 7:37:19 AM
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Nothing wrong with oil going down, except when our gas goes up.
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AZDaisy
Veteran Author
Arizona
Posts:320
Points:94,665
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Message Posted:
12/2/2008 7:36:03 AM
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Prices went up $.10 here. How does that work?
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Allstop
Sophomore Author
Minnesota
Posts:228
Points:45,875
Joined:Nov 2008
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Message Posted:
12/2/2008 7:35:26 AM
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Screw OPEC
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60mpwk
Sophomore Author
Dallas
Posts:139
Points:152,805
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Message Posted:
12/2/2008 7:35:24 AM
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the dollar is up and oil is down; interesting
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rod1965
All-Star Author
Portland
Posts:720
Points:116,180
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Message Posted:
12/2/2008 7:33:13 AM
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Poor OPEC. Tito, get me a tissue.
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BoerneWatch
Champion Author
San Antonio
Posts:6,718
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Message Posted:
12/2/2008 7:31:12 AM
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The pendulum is swinging the other way and OPEC can't stop what it helped create. Expensive oil attracts investment in production which eventually creates cheap oil.
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niceguytx
Champion Author
Houston
Posts:5,928
Points:1,149,375
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Message Posted:
12/2/2008 7:29:45 AM
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IT is still falling.
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tobasco
Champion Author
Los Angeles
Posts:3,277
Points:864,945
Joined:Mar 2004
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Message Posted:
12/2/2008 7:28:37 AM
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Now it is below $50.
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spunky4443
Champion Author
Washington
Posts:1,383
Points:502,325
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Message Posted:
12/2/2008 7:28:28 AM
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Well I hope People don't get to Comfortable with the Prices being down as they are, because they can go up just as fast.
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21597
All-Star Author
Colorado
Posts:899
Points:254,065
Joined:Sep 2005
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Message Posted:
12/2/2008 7:27:15 AM
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Don't worry it looks like our own congress could shore it up for opec
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girlusps
Rookie Author
Missouri
Posts:99
Points:276,680
Joined:Jun 2006
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Message Posted:
12/2/2008 7:22:37 AM
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Keep conserving no matter how low the price.
Poor Opec.....Crying and someone is making Billions. Not us. We are just trying to get by.
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parsec
All-Star Author
Toronto
Posts:581
Points:88,515
Joined:Oct 2008
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Message Posted:
12/2/2008 7:22:36 AM
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Empire is going to strike back!
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Thanatos1369
Sophomore Author
Illinois
Posts:233
Points:97,145
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Message Posted:
12/2/2008 7:22:23 AM
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as of 9:14 EST, the price of a barrel of oil is $50.94. Let's hear the complaints from OPEC now.
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kelsielee
Veteran Author
Atlanta
Posts:387
Points:85,225
Joined:Sep 2008
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Message Posted:
12/2/2008 7:22:20 AM
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Even if OPEC "agrees" to further production cuts, how long will it be before one or more countries "cheat" - as they have done in the past when OPEC cut production to raise price?
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21597
All-Star Author
Colorado
Posts:899
Points:254,065
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Message Posted:
12/2/2008 7:21:05 AM
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poor opec.............
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glazarides
All-Star Author
Akron
Posts:597
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Message Posted:
12/2/2008 7:20:54 AM
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I think oil should be removed from the commodities market and let true market economics set its price! Then it would be in the US$40's/barrel.
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salog
All-Star Author
Columbia
Posts:876
Points:431,985
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Message Posted:
12/2/2008 7:19:06 AM
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their whole economy is based on oil sales. If they cut production, they will sell less thereby making less money. so a few pennies are better than none.
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Chazzer
Champion Author
Nevada
Posts:8,310
Points:1,772,310
Joined:May 2002
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Message Posted:
12/2/2008 7:18:25 AM
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Go figure!
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jake7497
All-Star Author
Wisconsin
Posts:693
Points:122,100
Joined:Aug 2008
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Message Posted:
12/2/2008 7:18:06 AM
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actually, as of yesterday, 12/01, oil was at $49.28.
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danthemanvan
Champion Author
Montgomery
Posts:3,340
Points:695,880
Joined:Nov 2006
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Message Posted:
12/2/2008 7:17:32 AM
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let's don't stop conserving gas, no matter how low the price goes!
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thomasteach
Sophomore Author
Detroit
Posts:142
Points:32,400
Joined:Nov 2008
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Message Posted:
12/2/2008 7:17:23 AM
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greedy bastards
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PenDoctrJD
Champion Author
Orange County
Posts:3,645
Points:1,422,440
Joined:Aug 2001
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Message Posted:
12/2/2008 7:15:48 AM
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:-)
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Sisipepe
Sophomore Author
Maryland
Posts:212
Points:46,070
Joined:Oct 2008
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Message Posted:
12/2/2008 7:15:37 AM
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lets break them
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MarkRW
Rookie Author
Virginia
Posts:24
Points:18,830
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Message Posted:
12/2/2008 7:15:36 AM
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Let's hope that "what needs to be done" is not a drastic cut in production.
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cableman31
Champion Author
New York
Posts:1,004
Points:475,165
Joined:May 2004
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Message Posted:
12/2/2008 7:15:09 AM
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They aren't stupid.
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bug27
Champion Author
Kentucky
Posts:2,195
Points:1,218,975
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Message Posted:
12/2/2008 7:14:51 AM
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Oil is closer to $50 now.
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MightyDude
Champion Author
Minnesota
Posts:2,261
Points:1,074,120
Joined:Mar 2003
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Message Posted:
12/2/2008 7:14:49 AM
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OPEC is nothing more than another form of protectionizm and we know what history tells us
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Palico
Sophomore Author
South Carolina
Posts:156
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Message Posted:
12/2/2008 7:14:28 AM
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OPEC is hoping we will return to our old habits then they can cut production and sky rocket the prices again.
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NedW
All-Star Author
Indianapolis
Posts:729
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Message Posted:
12/2/2008 7:11:21 AM
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They're smart enough to 'not cut off their nose to spite their face.' OPEC needs the money. Who'd u thunk it?
[Edited by: NedW at 12/2/2008 9:12:02 AM EST]
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owatonnajeep
Champion Author
Minnesota
Posts:1,782
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Message Posted:
12/2/2008 7:10:06 AM
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interesting, i thought that was a done deal
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spadilla
Veteran Author
San Antonio
Posts:426
Points:85,040
Joined:Apr 2007
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Message Posted:
12/2/2008 7:09:56 AM
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Liberate OPEC!
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