Can we dare say we may see $1.60. I have $1.78 now. Funny with election and the end of Cheneys secreat energy plan. And of course bi bi to Bush. I guess they robbed us all they can for now.
Gas Price Going Down Fast
- Thread starter djv
- Start date
As far as gasoline prices, I'm not complaining. Its the ONLY good thing we have in this turbulent economy.
Wiz, no one's complaning. But it is strange how it can drop 2.25 in less then 6 months. The world did not change that fast.
The exact reason that we need to drill here is that prices are going down and people are going to lose their jobs and OPEC is the problem. And people call you dumb. Amazing.
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Do you really think this is the reason the price of oil has dropped so dramatically?
This will be the reason these prices stay down for at least two years. Lets look at it this way. You keep prices up people scream. They buy small cars. They conserve. Countries like Brazil get off of this garbage. So if you keep them up for good u chance losing a lot of money eventually. Now with the prices down (which in my mind they are still high but we are now condition to think they are low) people will go back to large cars and people won't care what Obama says about getting the country off of this stuff. People will just be happy they can fill their cars at a decent price. Then when everyone is nice and comfy and the oil company's want to pull their snake agenda again bang the prices go back up. Wash rinse repeat. Oh and when the prices go back up the same monkeys who fall for these type of antics again will start screaming drill baby drill. Lets be real here. Like Stevie say's what has changed? These are the dirtiest players in the game.
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just a realist. sorry u don't agree. i don't live in fantasy land. Im pretty sure i was the one who told everyone to relax because these prices would start coming down as soon as the election heated up. Others were falling for the ten dollars a gallon bull that was being piped around. This can't be denied. Im either physic or i know this game. Im not physic.
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Under the union contract, laid-off hourly workers receive pay from GM to supplement unemployment insurance that brings their income to 72% of their gross pay. After 48 months, workers can enter a "jobs bank" and receive 85% of their gross pay, until another GM job opens up.
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well we cant blame it on the unions
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well we cant blame it on the unions
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It must be lonely being right all of the time...
Oh wait, there were plenty on here talking about unsustainably high prices. The others just weren't as miserable...
Dog, the problem with u Southerners is that u think everyone is kind and straight up and have no concept that their are dirty people in this world. I call them like i see them and if the truth stings so be it. For 7 years me as well as others have been screaming about this con job Bush and Cheney were perpetrating and till this day we still have guys that can't see it. You see an economy right now in shambles but somehow people can't see that this is the product of those two scumbags. 7 years me as well as others said this was all about destroying the middle class and 7 years till this day we are still arguing with absolute clowns who get manipulated and played like fools. You want to call it miserable so be it. Lets keep watching one by one as families lose their jobs and their houses. This is stuff a small child should be able to pick up but when a person is easily conned there is only so much screaming others can do. By the way nobody in my lifetime has called me miserable. Only on these type of sites. :142smilie
Global demand for oil to plummet
By Javier Blas in London and Krishna Guha in Washington
Published: December 9 2008 20:09 | Last updated: December 9 2008 20:09
Global oil demand will collapse next year and commodities will not return to the highs they reached this summer in the foreseeable future, two authoritative reports said on Tuesday as they forecast a long and painful worldwide recession.
The stark conclusions came as the World Bank?s chief economist predicted that the world faced ?the worst recession since the Great Depression?.
EDITOR?S CHOICE
Analysis: So long, super-cycle - Dec-09Lex: Sliding oil prices - Dec-09Forecasts for demand hinder crude?s progress - Dec-09Sharp drop in Argentine wheat output forecast - Dec-09Brazil farmers lose debt battle - Dec-09The US energy department said global oil demand will fall this year and next, marking the first two consecutive years? decline in 30 years.
?The increasing likelihood of a prolonged global economic downturn continues to dominate market perceptions, putting downward pressure on oil prices,? it said, forecasting that demand would drop 50,000 barrels a day this year and a hefty 450,000 b/d in 2009. US oil demand will drop next year to the lowest level in 11 years.
Meanwhile, the World Bank?s Global Economic Prospects report said the commodities boom of the past five years ? which drove up prices 130 per cent ? had ?come to an end?.
The World Bank?s analysis of the commodities boom contrasts with the prevalent view among natural resources companies ? and most Wall Street analysts ? that the ongoing price drop is a correction within an upward trend.
Although it ruled out a return to the torrid high prices of this summer, it said commodities prices would not fall back to the depressed levels of the 1990s.
Oil would return to about $75 a barrel within the next three years, it said, while food would trade 60 per cent higher than in 2003, but about half below this year?s record.
?Over the longer run, the price of extracted commodities should fall,? the bank said, adding that because of slower population and income growth, world demand for raw materials will ease.
Andrew Burns, the leading author of the report, dismissed the idea ? widely supported among the industry and international bodies such as the International Energy Agency ? that the credit crunch could result in higher prices when the economy recovers as companies cancel supply expansion projects.
The bank forecast that world trade ? an engine of growth for many developing countries ? would contract for the first time since 1982.
Justin Lin, the World Bank?s chief economist, said the current downturn was likely to see simultaneous recessions in most of the industrialised world, and that these recessions were likely to last longer than in the early 1980s, and the decline in growth would be more universal than in past episodes in recent decades.
................................................................
By Javier Blas in London and Krishna Guha in Washington
Published: December 9 2008 20:09 | Last updated: December 9 2008 20:09
Global oil demand will collapse next year and commodities will not return to the highs they reached this summer in the foreseeable future, two authoritative reports said on Tuesday as they forecast a long and painful worldwide recession.
The stark conclusions came as the World Bank?s chief economist predicted that the world faced ?the worst recession since the Great Depression?.
EDITOR?S CHOICE
Analysis: So long, super-cycle - Dec-09Lex: Sliding oil prices - Dec-09Forecasts for demand hinder crude?s progress - Dec-09Sharp drop in Argentine wheat output forecast - Dec-09Brazil farmers lose debt battle - Dec-09The US energy department said global oil demand will fall this year and next, marking the first two consecutive years? decline in 30 years.
?The increasing likelihood of a prolonged global economic downturn continues to dominate market perceptions, putting downward pressure on oil prices,? it said, forecasting that demand would drop 50,000 barrels a day this year and a hefty 450,000 b/d in 2009. US oil demand will drop next year to the lowest level in 11 years.
Meanwhile, the World Bank?s Global Economic Prospects report said the commodities boom of the past five years ? which drove up prices 130 per cent ? had ?come to an end?.
The World Bank?s analysis of the commodities boom contrasts with the prevalent view among natural resources companies ? and most Wall Street analysts ? that the ongoing price drop is a correction within an upward trend.
Although it ruled out a return to the torrid high prices of this summer, it said commodities prices would not fall back to the depressed levels of the 1990s.
Oil would return to about $75 a barrel within the next three years, it said, while food would trade 60 per cent higher than in 2003, but about half below this year?s record.
?Over the longer run, the price of extracted commodities should fall,? the bank said, adding that because of slower population and income growth, world demand for raw materials will ease.
Andrew Burns, the leading author of the report, dismissed the idea ? widely supported among the industry and international bodies such as the International Energy Agency ? that the credit crunch could result in higher prices when the economy recovers as companies cancel supply expansion projects.
The bank forecast that world trade ? an engine of growth for many developing countries ? would contract for the first time since 1982.
Justin Lin, the World Bank?s chief economist, said the current downturn was likely to see simultaneous recessions in most of the industrialised world, and that these recessions were likely to last longer than in the early 1980s, and the decline in growth would be more universal than in past episodes in recent decades.
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