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  1. #1
    Moderator Snoman's Avatar
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    Angry Here we go again..

    http://customwire.ap.org/dynamic/sto...MPLATE=DEFAULT


    Does it or will it ever end??? 140.dollars for a barrel of oil.....
    Last edited by Snoman; 06-06-2008 at 05:16 PM.


  2. #2
    Pettee's Avatar
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    Investors in oil say it should be $150 by July 4. SO investors make it $150 by July 4m based on their on thoughts. Scam market.

    My thoughts. Itll burst, and soon.

    Look at housing, Investors were determining the price of real estate by buying and reselling, until they priced themselves out of the market, and shit hit the fan.

    Investors will price oil to the point its no longer sustainable at that cost, and it'll burst. India and some other countries just stopped subsidizing gas prices, when the shit hits them, demand will drop even more, and itll drop to the market cost *should* be $50 or so according to CNNMoney.

    anyway thats only my opinion. IMO oil prices is also what is driving the entire economy into the shitter. and, after 2 more quarters, a recession * we are not in one yet, regardless of who says what *

    Still, I hope those investors rot in hell.

  3. #3
    Moderator RX951's Avatar
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    this is getting crazy

  4. #4

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    Quote Originally Posted by Pettee View Post
    Investors in oil say it should be $150 by July 4. SO investors make it $150 by July 4m based on their on thoughts. Scam market.

    My thoughts. Itll burst, and soon.

    Look at housing, Investors were determining the price of real estate by buying and reselling, until they priced themselves out of the market, and shit hit the fan.

    Investors will price oil to the point its no longer sustainable at that cost, and it'll burst. India and some other countries just stopped subsidizing gas prices, when the shit hits them, demand will drop even more, and itll drop to the market cost *should* be $50 or so according to CNNMoney.

    anyway thats only my opinion. IMO oil prices is also what is driving the entire economy into the shitter. and, after 2 more quarters, a recession * we are not in one yet, regardless of who says what *

    Still, I hope those investors rot in hell.
    I hope you are right. Price driven on speculation, gotta love it!

  5. #5
    Moderator Snoman's Avatar
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    I have to agree with pettee....The shit will hit the fan in the oil market like it did in the housing...It just sucks for us in the meantime...

  6. #6
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    $10 jump for a barrel, that means 5 cents at the pump for every $1 the barrel goes up...so a 50 cent hike by tomorrow, ROUGHLY....

  7. #7
    JFizzleJR's Avatar
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    No, gasoline has it's own futures market. It went up 18 cents today to about $3.50 I believe. That's before all the taxes.

    Pettee, if by investors you mean JP Morgan then yes, they think it'll be at $150 a barrel by July 4th.

    And since the markets are futures that means that gasoline vendors shouldn't adjust tomorrows prices on what happened today, but what happened a month ago.
    Last edited by JFizzleJR; 06-06-2008 at 07:04 PM.

  8. #8
    KEN G's Avatar
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    These so called speculators, who and where are they. I have something for them.

  9. #9
    JFizzleJR's Avatar
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    Mercantile exchange in Chicago, New York stock exchange.. Everywhere really. GO GET 'EM! BET!

  10. #10
    Pettee's Avatar
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    Quote Originally Posted by JFizzleJR View Post
    No, gasoline has it's own futures market. It went up 18 cents today to about $3.50 I believe. That's before all the taxes.

    Pettee, if by investors you mean JP Morgan then yes, they think it'll be at $150 a barrel by July 4th.

    And since the markets are futures that means that gasoline vendors shouldn't adjust tomorrows prices on what happened today, but what happened a month ago.
    sort of, oil prices from yesterday were for crude delivery end of july, so they have to adjust their prices based on what it will cost them for the next gallon, not what it did for the gallon they have.

    Like if i had a construction company, and I buy 10 2x4s for $5 each, and after i buy them they go up to $6, i have to sell them at $6 + to make a profit and buy more

    same with gas. even if they bought it at $3.50/gallon, they have to sell it before taxes for the cost of the next gallon, which may be $3.55, plus a profit...

    and yes i mean JP morgan (WHo can go Eff themselves anyway after working for them, prejudice racist effwads ). They make the speculation, then they invest? Scam market. Thats like me saying that all RXPs should cost 25 grand, and buying everyone at 25 grand so they now are worth that. Its BS.

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