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by Call2Glory

Last Post 41 days, 5 hours Ago


Oil drops below $130 for first time in a month
Jul 17, 2008 | 10:22 PM
Category: News
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Massive natural gas sell-off, U.S. economic concerns help drive market

NEW YORK - Oil prices fell below $130 a barrel for the first time in more than a month Thursday, as a dramatic slide entered a third day along with a sharp sell-off in natural gas.

The declines accelerated amid growing concerns about the weakening U.S. economy.

“The entire buillish scenario ... is starting to crack,” said James Cordier, president of Tampa, Fla.-based trading firms Liberty Trading Group and OptionSellers.com.
                                                       
                                                       
                    Associated Press

Is this a teaser or the actual beginning of a downward trend in oil prices.  Has the fact that American's waking up in a crises and turning to alternative means of transportation and making drastic lifestyle changes caused this downward trend?   Lets just hope, that we as a nation has alarmed the oil mongers with our show of intent to do without their oil.   

I just want to applaud America for proving we are resilient even in a crisis.   Yah, I know we sure whined alot, but with our eyes closed, we are doing something about it.

As one Blog member has said many times... buy American gas!   At least keep doing so until more alternative means becomes available to us or until the price at the pumps is way below 3.00 a gallon.   We need to pull this off in every State and City.    The less money those Arabs earn from us, the less US property they can buy from us!   

If America is for sale...  I don't mind it being sold to foreigners but when they buy property such as the Chrysler Building financed by the fortunes they made off Americans from raising the cost of oil on us....  that just really chaps my hide!

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Member Comments Total Comments: 15
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KenOfAZ read my blog view my photos
Jul 18, 2008 | 6:52 AM

Maybe the falling price is because drilling our own oil off of our coasts is on the table. If congress would vote to drill, the prices would come down even more.
Call2Glory read my blog
Jul 18, 2008 | 7:30 AM

Your right Ken. A few days ago When George Bush got on the air and threatened to drill that was 1st day the prices began to fall.

I think it all fits into the equation. The millions of Americans that stopped buying gas and found alternative means of transportation, reduced the supply in demand forcing prices down.

Add that to the intent to drill and the Arab Nation becomes concerned and prices go down even more. Even if drilling is just speculation. I think we need to speculate more frequently with more volume because obviously it plays on the Arabs concerns.

Personally, I would like to see a more efficient America that is no longer dependent upon foreign oil or 2.50 a gallon.
Scott53 read my blog view my photos
Jul 18, 2008 | 9:03 AM

Why is it when oil goes up, the price at the pumps goes up the same day. But the price never goes down as fast when oil prices drops??
jteamaz read my blog
Jul 18, 2008 | 9:55 AM

Scott, no one seems able, or willing for that matter, to answer that question. It gets pretty mum when you toss that one out there. I guess they don't want us to know how the system works.
XTRUCKIE read my blog
Jul 18, 2008 | 10:28 AM

I'm telling you idiots, when the Untied States starts drilling, the towelheads are going to BLEEP. The price of Oil will plummet, to redirect our attention from our intent to drill and refine our own oil, to continue to buy the mid east oil, by SLASHING the price per barrel. They (OPEC) have NO OTHER PRODUCT to sell the Untied States. Without our money, guess what, Back to the stone age.
BTW, I purposely spell UNTIED States, instead of United States, because we are anything but United. Sorry about spelling, no spell check in blogs.
Call2Glory read my blog
Jul 18, 2008 | 10:40 AM

You go XTRUCKIE - That's what I'm talking about!

Thats what I mean by: "Even if drilling is just speculation. I think we need to speculate more frequently with more volume because obviously it plays on the Arabs concerns"
simonk read my blog
Jul 18, 2008 | 12:46 PM

We should have started drilling offshore and in Alaska 3 decades ago! We can thank Congress, both parties and the last 5 presidents that we didn't. The oil embargo's of the 70's should have been the wake up call and we pay the price now for ignoring that call.
phoenixJane read my blog
Jul 18, 2008 | 12:57 PM

Someone said it already, the reason Arabs are so rich is because of us, and that's why they own U.S. media, stock markets, real estate, and legislators. When they run out of money, they'll want to sell it all back! (Now there's a good law.)

I recently spoke with an Obama-ite who said we should be paying more because the rest of the world is paying more...couldn't believe my ears. No more foreign oil. Start drilling for real and don't stop. Boot those crooks out of office.

Scott, I don't get the time-delay either.
bijou read my blog
Jul 19, 2008 | 9:46 AM

There is only one problem, if the prices go down and we all stop whining, Congress will decide we don't need to drill now and it will go back to the way it was before and we'll still be sending money to the Arabs. It can't go back to a status quo.
Goldbug read my blog
Jul 20, 2008 | 4:28 AM

Drill and refine enough oil to, not only become self sufficient but to, sell to China and India and let them start subsidising us.
Call2Glory read my blog
Jul 20, 2008 | 7:28 AM

Scottsdale is a rediculous place to buy gas. Why are they so much high than Pheonix. I left Scottsdale this morning and it was 4.09 at a Circle K. In Pheonix, I about killed 3 people when I saw 3.89 at Bell & Cave Creek. (not really) but people's live's could've been in danger by the way I slammed on my brakes in dis-belief!
Call2Glory read my blog
Jul 20, 2008 | 7:31 AM

I agree with you Goldbug. If we have the resources, we should capitalize on it?
Cagedvoter read my blog
Jul 22, 2008 | 12:17 PM

John McCain says it's Obama's fault that the gas prices went up. Now that the gas prices seem or appear to be going down, do we blame Obama for that? Do we blame him for our personal stock futures that are now being cashed in for profit? Do we blame Obama if the gas prices go up during the Hurricane Speculation Season? If it keeps going down does that mean, that a Vote for McCain is a vote for higher gas prices or does it mean, that a Vote for Obama means lower gas prices?

Is that like knowing who Al Queda really is, or just speculating on who they might be? Just curious.
Goldbug read my blog
Jul 23, 2008 | 3:55 AM

Neither McCain nor Obama have anything to do with the price of gas other than their respective Senate votes.
Cagedvoter read my blog
Jul 29, 2008 | 12:18 PM

I don't know people, gas prices continue to go down, and maybe Obama needs to go back the region and Europe and maybe it will go down enough for you to drive to work and still be able to buy eggs and milk on the way home. Hmmm we are not drilling anywhere, and gas prices have stabled off, because this week is ist he week Big Oil says how many billions and billions of tax paid encentives they will not be investing in Obama's 2006 "Healthcare for Hybirds" inititives or his March of 2006 Vehicle and Fuel Choice American Security Act! Hmmmm I don't think John McCain was in Iraq in January of 2006, he was on a flight to the San Pedro River or the Yavapaid Mountains.
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Call2Glory

I am a Hawaiian born and raised in Colorado Springs CO. Where I have made skiing my favorite passtime since I was 15. Career wise I had been a technician for 20 years. I had recently retired to pursue my own dreams. I'm glad that I did because a year later, my company closed it's doors for good. Today, I'm married to an AZ born and raised girl, living in Scottsdale and everyday... I reminisce about Colorado's cool breezy days!

Member Since: 6/25/2008


 

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