downtheroad
Puget Sound
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Joined: 02/18/2003
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Crude closed under $50 per barrel today...($48.70)
$100 less than just 4 months ago.
Amazing
"If we couldn't laugh we would all go insane"
GMC Duramax/Allison (LBZ)
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windriderjr
Massachusetts
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Joined: 03/20/2007
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I heard that there was one oil trader that wanted to brag that he was the one to push the price of oil over $100/bbl. I wonder if there's some trader somewhere playing games in the opposite direction?
Having spent 5 yrs writing computer programs for the oil industry, I can tell you that trading is just another word for betting. Oil traders buy things they never plan to take possession of (futures) and sell things they don't own (shorts). It's a crazy business that is run by guys with testosterone overdoses and guided by PHDs in Applied Math.
Just like Vegas, you can make a boatload of money in the oil trading business. Just like Vegas, that money has to come from the losers. There are a whole lot more losers in both places than winners.
DW and I in our Gulfstream Amerilite 21MB
Chevy Silverado 2500 HD - Duramax Diesel 6.6L - Allison Tranny
"We can categorically state that we have not released man-eating badgers into the area." - Major Mike Shearer - British Army - Basra, Iraq
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chuckster11
Idaho
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Joined: 04/30/2004
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Election is over--what did you expect? Besides, the whole oil issue backfired on Congress--they had to placate the voters by "saying" they would open off shore drilling--which, of course, they have no intention of doing now that the price of oil has been "reduced". It is all a shell game. You can blame "speculators" and OPEC but the only rhyme and reason you paid so much last year was because of politics--the opposition needed something else to blame on Bush--it worked and each of us contributed to winner's campaign fund with our purchase of artificially inflated oil.
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352
Oxfofd, Fl
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Joined: 04/20/2004
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This is all controlled by guess who?Can't say it here or I will get deleted.
1937(BAD BOY)pontiac,all steel,chevy 350,dyno=405hp,650 holley double pumper,ps,pb tilt wheel,heat & air,
700 r4 tranny,headers,3" exhaust with flowmasters.
just a good ole southern redneck country boy.our favorite place to go to swim with the manatees
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midnightsadie
ohio
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Joined: 01/07/2008
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$48..bucks a barrel. so why is diesel still 2.99a gal
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Aridon
SE Florida
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Joined: 06/06/2007
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chuckster11 wrote:Election is over--what did you expect? Besides, the whole oil issue backfired on Congress--they had to placate the voters by "saying" they would open off shore drilling--which, of course, they have no intention of doing now that the price of oil has been "reduced". It is all a shell game. You can blame "speculators" and OPEC but the only rhyme and reason you paid so much last year was because of politics--the opposition needed something else to blame on Bush--it worked and each of us contributed to winner's campaign fund with our purchase of artificially inflated oil.
Politicians have no control over the price of oil. Its priced on a global market and is subject to being over bought and over sold just like any stock or commodity that is traded.
2008 Newmar 4330 (Modified)
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Terryallan
NC
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Joined: 06/28/2004
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If you would read the drilling bill passed this fall. You will see that, It is not a drilling bill, but a anti drilling bill. It was only called a drilling bill so they could say. LOOK we are doing something, and did y'all notice. It did not clear the senate
Terry & Shay
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352
Oxfofd, Fl
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midnightsadie wrote:$48..bucks a barrel. so why is diesel still 2.99a gal Quote:Sounds like you and many others already know why.
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352
Oxfofd, Fl
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Aridon wrote:chuckster11 wrote:Election is over--what did you expect? Besides, the whole oil issue backfired on Congress--they had to placate the voters by "saying" they would open off shore drilling--which, of course, they have no intention of doing now that the price of oil has been "reduced". It is all a shell game. You can blame "speculators" and OPEC but the only rhyme and reason you paid so much last year was because of politics--the opposition needed something else to blame on Bush--it worked and each of us contributed to winner's campaign fund with our purchase of artificially inflated oil.
Politicians have no control over the price of oil. Its priced on a global market and is subject to being over bought and over sold just like any stock or commodity that is traded. Quote:Do you REALLYYYYYYYYYYY believe what you are posting?
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kmb1966
Houston
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Joined: 09/18/2005
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But what about the OIL S H O R T A G E ????? 
Supply and Demand?
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