Analysts said prices moved up as traders took long positions — buying oil ahead of the July 4 holiday Monday. That was considered a normal development given the recent volatility in the market.
--x--
Convenient to announce on a Friday July 1st 2:30pm Pacific Time where most people on the east coast have headed out of town already and most folks on the west coast are just about to do so....
Joined: Sat Oct 16, 2004 10:52 pm Posts: 1727 Location: Earth Gender: Male
It's only gonna get higher. Finite resources don't get cheaper. It's why invading Iraq was so vital to the American way of life. The amount of oil this country consumes everyday is absurd.
Mass graves for the pump when the price is set.
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Last edited by IEB! on Fri Jul 01, 2005 9:52 pm, edited 1 time in total.
Analysts said prices moved up as traders took long positions — buying oil ahead of the July 4 holiday Monday. That was considered a normal development given the recent volatility in the market.
--x--
Convenient to announce on a Friday July 1st 2:30pm Pacific Time where most people on the east coast have headed out of town already and most folks on the west coast are just about to do so....
Oil was over $60 a barrel at the end of last week. On Wednesday and Thursday it dropped over $2.
Not sure what this has to with anything. This article is about oil futures which means if you buy oil today, it will be delivered in 4 months from now.
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Joined: Sun Oct 17, 2004 12:25 pm Posts: 3567 Location: Swingin from the Gallows Pole
IEB! wrote:
It's only gonna get higher. Finite resources don't get cheaper. It's why invading Iraq was so vital to the American way of life. The amount of oil this country consumes everyday is absurd.
Mass graves for the pump when the price is set.
The limit of production is only half of the reason oil is higher. China and India are consuming alot of oil which increases demand and oil prices to go higher.
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Joined: Sat Oct 16, 2004 10:52 pm Posts: 1727 Location: Earth Gender: Male
Zutballs wrote:
IEB! wrote:
It's only gonna get higher. Finite resources don't get cheaper. It's why invading Iraq was so vital to the American way of life. The amount of oil this country consumes everyday is absurd.
Mass graves for the pump when the price is set.
The limit of production is only half of the reason oil is higher. China and India are consuming alot of oil which increases demand and oil prices to go higher.
Very true. I read today China is attempting to buy UNOCAL ( http://news.bbc.co.uk/1/hi/business/4639849.stm ). They aren't sitting on an Iraq or have a pipeline like that in Afghanistan to supply them in the future.
How you gonna get what you need to get?
_________________ "The smart way to keep people passive and obedient is to strictly limit the spectrum of acceptable opinion, but allow very lively debate within that spectrum." -Noam Chomsky
Post subject: Re: Oil Prices Jump More Than $2 a Barrel
Posted: Fri Jul 01, 2005 10:01 pm
Yeah Yeah Yeah
Joined: Mon Oct 18, 2004 4:50 pm Posts: 3955 Location: Leaving Here
Zutballs wrote:
Oil was over $60 a barrel at the end of last week. On Wednesday and Thursday it dropped over $2.
Not sure what this has to with anything. This article is about oil futures which means if you buy oil today, it will be delivered in 4 months from now.
So, just in time for the start of winter then? Convenient as well....
Joined: Sun Oct 17, 2004 12:25 pm Posts: 3567 Location: Swingin from the Gallows Pole
IEB! wrote:
Zutballs wrote:
IEB! wrote:
It's only gonna get higher. Finite resources don't get cheaper. It's why invading Iraq was so vital to the American way of life. The amount of oil this country consumes everyday is absurd.
Mass graves for the pump when the price is set.
The limit of production is only half of the reason oil is higher. China and India are consuming alot of oil which increases demand and oil prices to go higher.
Very true. I read today China is attempting to buy UNOCAL ( http://news.bbc.co.uk/1/hi/business/4639849.stm ). They aren't sitting on an Iraq or have a pipeline like that in Afghanistan to supply them in the future.
How you gonna get what you need to get?
The whole problem with Saudia Arabia is they get to tell everyone how much oil is left in their reserves.
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Joined: Sat Oct 16, 2004 10:51 pm Posts: 14534 Location: Mesa,AZ
Now's the time to start worrying about mass transit options. Cities like New York are going to be just fine. It's the people who have fought against mass transit that are going to be screwed from oil prices.
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Joined: Sun Oct 17, 2004 12:59 am Posts: 18643 Location: Raleigh, NC Gender: Male
$úñ_DëV|L wrote:
Now's the time to start worrying about mass transit options. Cities like New York are going to be just fine. It's the people who have fought against mass transit that are going to be screwed from oil prices.
It was brilliant for the automakers to buy the streetcars in all those cities and then demolish them.
Joined: Sat Oct 16, 2004 10:53 pm Posts: 20537 Location: The City Of Trees
Athletic Supporter wrote:
$úñ_DëV|L wrote:
Now's the time to start worrying about mass transit options. Cities like New York are going to be just fine. It's the people who have fought against mass transit that are going to be screwed from oil prices.
It was brilliant for the automakers to buy the streetcars in all those cities and then demolish them.
"Oh they'll drive. They'll have to. You see, I bought the red car so I could dismantle it."
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