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Thread: How about those oil prices?

  1. #1
    Senior Member Buzz's Avatar
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    Default How about those oil prices?

    Obama's energy policy has those oil prices going THROUGH THE ROOF I tell ya!


    Oil fell after the Energy Department said U.S. crude stockpiles rose to the highest level in almost 22 years and as investors awaited a Federal Reserve announcement on whether it will act to bolster the economy.Futures dropped as much as 2 percent after the report showed supplies rose 2.86 million barrels to 387.3 million last week, the highest level since July 1990. Supplies were forecast to decline, according to analysts surveyed by Bloomberg. The Fed may announce more stimulus measures at the end of a two-day meeting this afternoon in Washington.
    “We are down because inventories were plentiful even before today’s report,” said Todd Horwitz, chief strategist at Adam Mesh Trading Group in Chicago. “We will probably take out $80 in the next couple weeks.”
    Crude oil for July delivery fell $1.63, or 1.9 percent, to $82.40 a barrel at 10:55 a.m. on the New York Mercantile Exchange. Oil traded at $83.02 before release of the inventory report at 10:30 a.m.
    Brent oil for August settlement declined $1.26, or 1.3 percent, to $94.50 a barrel on the London-based ICE Futures Europe exchange. Futures ended yesterday’s session at $95.76, the lowest settlement since January 2011.
    Crude stockpiles were forecast to decline 1.3 million barrels, according to the median of 11 analyst estimates in the Bloomberg survey.
    "For everyone to whom much is given, of him shall much be required." -- Luke 12:48

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    Senior Member road kill's Avatar
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    Quote Originally Posted by Buzz View Post
    Obama's energy policy has those oil prices going THROUGH THE ROOF I tell ya!
    Yep, he is doing exactly what I and almost everyone else have been suggesting he do.
    Open drilling in the Gulf!!!!

    Excellent move..............

    Even though both he and you have claimed he has no affect on oil pricing, you are the first to claim credit for him!!
    HAHAHAHAHAHAHA!!!!!!!!!!!!!!!!!!

    When there is blame to be taken Obama GIVES it, when there is credit to be given Obama TAKES it!!!!
    Last edited by road kill; 06-20-2012 at 11:14 AM.
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    Quote Originally Posted by road kill View Post
    Yep, he is doing exactly what I and almost everyone else have been suggesting he do.
    Open drilling in the Gulf!!!!

    Excellent move..............

    Even though both he and you have claimed he has no affect on oil pricing, you are the first to claim credit for him!!
    HAHAHAHAHAHAHA!!!!!!!!!!!!!!!!!!

    When there is blame to be taken Obama GIVES it, when there is credit to be given Obama TAKES it!!!!
    i know you love to laugh loudly on here Stan, but i'm pretty sure you know that any drilling that takes place today or in the next 5 months will have no effect on the amount of oil stockpiled today. it's nice to see someone on here in a good mood, though!

    i don't think Obama has anything to do with that. the large stockpiles probably have a LOT to do with investors who bought into the market when prices were up who now are preferring to wait to sell, rather than sell at a loss now.-Paul
    Last edited by paul young; 06-20-2012 at 11:29 AM.
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  4. #4
    Senior Member Franco's Avatar
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    I love it!
    Just paid $3.04 a gallon for 87 octane pure gas (no ethanol).

    Just one benefit of the Recession.
    The Libertarian Party believes that all persons are entitled to keep the fruits of their labor. A call for the repeal of the income tax, abolishment of the Internal Revenue Service and all federal programs and services not required under the U.S. Constitution. We support the passage of a "Balanced Budget Amendment" to the U.S. Constitution, provided that the budget is balanced exclusively by cutting expenditures, and not by raising taxes. LP.org

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    Senior Member Gerry Clinchy's Avatar
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    It occurs to me that maybe stockpiles are going up because people are hurting and being more careful about using gas? You can only conserve so much in electricity, or heating oil ... but being more careful about "recreational" driving can be an option that can impact a family's bottom line.
    G.Clinchy@gmail.com
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  6. #6
    Senior Member Buzz's Avatar
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    Quote Originally Posted by Gerry Clinchy View Post
    It occurs to me that maybe stockpiles are going up because people are hurting and being more careful about using gas? You can only conserve so much in electricity, or heating oil ... but being more careful about "recreational" driving can be an option that can impact a family's bottom line.

    Jerry, it occurs to me that I cannot make a single sarcastic statement about Obama or anything else related to politics without you putting a negative spin on it. You should be working for Faux News me thinks!
    "For everyone to whom much is given, of him shall much be required." -- Luke 12:48

    Raven - Moneybird's Black Magic Marker***
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    Mick - Moneybird's Jumpin' Jack Flash***
    (Clubmead's Road Warrior x Oakdale Whitewater Devil Dog)
    Peerless - Moneybird's Sole Survivor
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  7. #7
    Senior Member Gerry Clinchy's Avatar
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    Quote Originally Posted by Buzz View Post
    Jerry, it occurs to me that I cannot make a single sarcastic statement about Obama or anything else related to politics without you putting a negative spin on it. You should be working for Faux News me thinks!
    Sorry you view it that way, Buzz, but I don't feel I need to apologize for trying to view things from the grassroots level.
    G.Clinchy@gmail.com
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    Quote Originally Posted by Buzz View Post
    Obama's energy policy has those oil prices going THROUGH THE ROOF I tell ya!
    The bigs are doing well in WA - Amazon, MSFT, Boeing -it's the littles that are not, & it shows in state revenue & for the little guy with a business who has no traffic flow. Living in a college town with a WW employer is not a good base for observation .

    As for energy it has little to do with the POTUS, whose animosity toward anything successful is evident, it has to do with lowered demand & the talents of the oil companies in providing product.
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  9. #9
    Senior Member Buzz's Avatar
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    Quote Originally Posted by Gerry Clinchy View Post
    Sorry you view it that way, Buzz, but I don't feel I need to apologize for trying to view things from the grassroots level.

    Gerry, sorry I misspelled your name in that earlier post...
    "For everyone to whom much is given, of him shall much be required." -- Luke 12:48

    Raven - Moneybird's Black Magic Marker***
    (Esprit's Power Play x Trumarc's Lean Cuisine)
    Mick - Moneybird's Jumpin' Jack Flash***
    (Clubmead's Road Warrior x Oakdale Whitewater Devil Dog)
    Peerless - Moneybird's Sole Survivor
    (Two River's Lucky Willie x Moneybird's Black Magic Marker)

  10. #10
    Senior Member Buzz's Avatar
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    Quote Originally Posted by Marvin S View Post
    The bigs are doing well in WA - Amazon, MSFT, Boeing -it's the littles that are not, & it shows in state revenue & for the little guy with a business who has no traffic flow. Living in a college town with a WW employer is not a good base for observation .

    As for energy it has little to do with the POTUS, whose animosity toward anything successful is evident, it has to do with lowered demand & the talents of the oil companies in providing product.

    I agree with you. This was supposed to be a tongue-in-cheek comment to those who have been blaming high oil prices on Obama energy policy. There are a lot of factors that go into it, US energy policy being only one...
    "For everyone to whom much is given, of him shall much be required." -- Luke 12:48

    Raven - Moneybird's Black Magic Marker***
    (Esprit's Power Play x Trumarc's Lean Cuisine)
    Mick - Moneybird's Jumpin' Jack Flash***
    (Clubmead's Road Warrior x Oakdale Whitewater Devil Dog)
    Peerless - Moneybird's Sole Survivor
    (Two River's Lucky Willie x Moneybird's Black Magic Marker)

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