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What happened to that gas? - 5/5/2011 4:10:00 PM   
flcouple2009


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Status: offline 		So much for all the doom and gloom of $6 a gallon gas by summer.

http://news.yahoo.com/s/ap/20110505/ap_on_bi_ge/oil_prices

Oil prices are going the wrong way.  That is what happens when the prices are influenced by things other than an actual shortage.


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RE: What happened to that gas? - 5/5/2011 4:30:12 PM   
rulemylife


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Status: offline 		The same thing that happened to the Dow plunging to 4,000.

It's funny that you don't hear the doom and gloomers talking much about that anymore.

Go figure!

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RE: What happened to that gas? - 5/5/2011 4:49:58 PM   
pahunkboy


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Status: offline 		What happened?  

The COMEX  raised margin limits 5 times in the past week.  Which in a way is a good thing because people should not be using leverage for this.         

All commodities took a hit.    (to include - my precious metals...  guys on the silver board despondent... but when ever- I can still pay my bills.   We deserve it - because we were gloating)

To respond to the OP-  margin limits have increased.... that is the reason for the drop.  Yay for cheaper prices. 

:-)

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RE: What happened to that gas? - 5/5/2011 5:04:09 PM   
flcouple2009


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That combined with the fact that there was NO oil shortage.  Everybody is looking at a glut of oil.  Prices have no where to go but down.

Now mind you we had the doom and gloom people in here predicting disaster ignoring the fact people like Saudi Arabia were already cutting back production.  That was just a few days ago.


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RE: What happened to that gas? - 5/5/2011 5:12:04 PM   
pahunkboy


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Status: offline 		I do believe people drive less when it is $4ish.  (speaks to demand)

That might floor our EU friends.  When gas went up in 08, I moved all my errands as close to home as possible.   Then it went down- and I stayed stingy.   Now that I team up with the neighbor- I only use my car once a week or so.

My brother turned down a job project in FL-  (from IL) and canceled a trip to PA over the cost of gas.  He said some days it does not pay to even go to work-  so he will be glad for a lower cost too.

So in my world- there is less demand then before.

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RE: What happened to that gas? - 5/5/2011 5:16:34 PM   
rulemylife


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Status: offline 		It's not about demand, it's about speculation.

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RE: What happened to that gas? - 5/5/2011 7:14:08 PM   
Owner59


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Oil Prices Plunge In Record Sell-Off




http://www.huffingtonpost.com/2011/05/05/oil-prices-plunge-in-reco_n_858275.html




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RE: What happened to that gas? - 5/5/2011 7:24:39 PM   
Musicmystery


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Status: offline 		Looks from the article like the speculation bubble may have burst. Oil below $100/barrel!

Nice. Hope it stays.

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RE: What happened to that gas? - 5/5/2011 7:40:15 PM   
Hillwilliam


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Status: offline 		I hope some of those speculators lost their house and have to get a real job.

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RE: What happened to that gas? - 5/5/2011 7:55:18 PM   
tazzygirl


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Status: offline 		Think the drop had anything to do with the promise of so many oversight agencies promsing to "look" into the speculation?

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RE: What happened to that gas? - 5/6/2011 3:51:39 AM   
Sanity


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The  'new economy' is playing a role:

quote:

Commodities Plunge for a Fifth Consecutive Day on ‘Panic’ Among Investors




Commodities fell for a fifth day, extending the biggest rout since December 2008, as investors cut their holdings in oil, silver and industrial metals amid concern that economic growth will slow.

http://finance.yahoo.com/news/Commodities-Plunge-for-a-bloomberg-3399991243.html?x=0&sec=topStories&pos=3&asset=&ccode=


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RE: What happened to that gas? - 5/6/2011 4:00:22 AM   
Edwynn


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Gas price rise was proof of "Obama bad," and now gas price decline is proof of "Obama bad."

You step on your own feet just getting out of bed, please quit pretending that you can dance at all.


But that word 'panic!' blows your skirt up every time, doesn't it?



Drama queen, to the core.










< Message edited by Edwynn -- 5/6/2011 4:19:51 AM >

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RE: What happened to that gas? - 5/6/2011 4:25:39 AM   
Sanity


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Have another cup of coffee, youre not quite awake yet!

(I posted a part of a news article Ed, I didnt mention Obama).

And when I do mention Obama I do so with far kinder words than leftists ever did when they posted their constant maniacle hatred for Bush, Cheney & co.


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RE: What happened to that gas? - 5/6/2011 4:43:43 AM   
flcouple2009


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Status: offline 		Go with that if you want.  Of course we don't remember any of the things you've said.






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RE: What happened to that gas? - 5/6/2011 5:03:03 AM   
Edwynn


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He is just a kind and gentle person, and less maniacal in the bargain. The claim that presentation of facts is 'maniacal' makes it easy to proclaim oneself as kind and gentle when presenting twisted nonsense. He shows the way towards kindness and understanding in every post.






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RE: What happened to that gas? - 5/6/2011 5:35:08 AM   
Musicmystery


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quote:

ORIGINAL: Sanity


The  'new economy' is playing a role:

quote:

Commodities Plunge for a Fifth Consecutive Day on ‘Panic’ Among Investors




Commodities fell for a fifth day, extending the biggest rout since December 2008, as investors cut their holdings in oil, silver and industrial metals amid concern that economic growth will slow.

http://finance.yahoo.com/news/Commodities-Plunge-for-a-bloomberg-3399991243.html?x=0&sec=topStories&pos=3&asset=&ccode=


Except that stocks rose at the same time.

This is a first...but pahb is right on this one.


quote:

ORIGINAL: pahunkboy

What happened?

The COMEX raised margin limits 5 times in the past week. Which in a way is a good thing because people should not be using leverage for this.

All commodities took a hit. (to include - my precious metals... guys on the silver board despondent... but when ever- I can still pay my bills. We deserve it - because we were gloating)

To respond to the OP- margin limits have increased.... that is the reason for the drop. Yay for cheaper prices.

:-)



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RE: What happened to that gas? - 5/6/2011 5:52:54 AM   
thishereboi


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quote:

ORIGINAL: flcouple2009

Go with that if you want.  Of course we don't remember any of the things you've said.







He didn't mention Obama in the post and he wasn't in the article he linked to. But go ahead and back up eddy on this one. If sanity doesn't actually post bs in this thread, you can always drag up old ones. After all, what is a thread if you don't have a go at sanity in it at least once. To bad you miss so many of the trolls on the left side of the spectrum. Must be those blinders you were so well.


As to the OP, you sound disappointed, where you hoping prices would keep going up?


< Message edited by thishereboi -- 5/6/2011 5:54:25 AM >

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RE: What happened to that gas? - 5/6/2011 5:58:27 AM   
Sanity


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No, stocks have been falling.




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RE: What happened to that gas? - 5/6/2011 6:17:53 AM   
flcouple2009


Posts: 2784
Joined: 1/8/2009
Status: offline 		Sometimes I just don't know whether to feel sorry for you or laugh at you.

We have one of the most vile, crap sewing posters on the forums now claiming his post are kindness and light.  But alas you claim it's unfair to mention because he didn't say anything in "that" post.

It wouldn't be a thread without you posting something dumb.

As to the OP, I see your reading comprehension is as problematic as ever.

I am laughing my ass off at the doom and gloom some of our posters were trying to play just days ago.  Gas was never going to hit $6 a gallon by summer.  Oil would have needed to shoot up $50 to $75 a barrel in a month for that to happen.  Hard to do when there was never a shortage of oil driving the price to start.    

< Message edited by flcouple2009 -- 5/6/2011 6:18:50 AM >

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RE: What happened to that gas? - 5/6/2011 6:51:46 AM   
Sanity


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Finally we agree on something 

quote:

ORIGINAL: flcouple2009

Sometimes I just don't know whether to feel sorry for you or laugh at you.

We have one of the most vile, crap sewing posters on the forums now claiming his post are kindness and light.  But alas you claim it's unfair to mention because he didn't say anything in "that" post.

It wouldn't be a thread without you posting something dumb.

As to the OP, I see your reading comprehension is as problematic as ever.

I am laughing my ass off at the doom and gloom some of our posters were trying to play just days ago.  Gas was never going to hit $6 a gallon by summer.  Oil would have needed to shoot up $50 to $75 a barrel in a month for that to happen.  Hard to do when there was never a shortage of oil driving the price to start.    


And the 5 - 6 dollar gas, wasnt that  Reuters, AP etc who were reporting that...

I hope youre right that its coming down though.


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