Oil Closes Slightly Above $40 as Israel-Gaza Clash Widens
The growing conflict between Israel and Gaza, coupled with signs that the OPEC oil cartel is starting to put production cuts in place, resulted in oil closing slightly above $40 a barrel Monday.
All they need is a speck of bad new and they will run with it. I bet Iran will do something soon to stir up trouble just enough to shoot the oil price up. They can shoot up a few more missiles and they will pay for it and then some from the price gain they will get. It happed last time they did it. OPEC can cut production but its better for them if they get the rumors going and rake in the profit from doing nothing more to earn it.
I wish OPEC would try and understand that people around the world have sufferedhigh oilprices for years. Can't we have a break longer than a few months?
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I wish OPEC would try and understand that people around the world have sufferedhigh oilprices for years. Can't we have a break longer than a few months?
It's not going anywhere, if it does the new pres. will do whatever including taking control of it. It's called regulation. The new power is all about regulation and the oil companys know it. It's why it's where it is now, there messiah Bush is gone and a replacement went down in flames.The new power is begging big oil to try that crap again, they can't wait for an opportunity to use the sickel and hammer on them and even though it's a world wide problem the world dances when we do. There will be no rock big enough for these robber barrons to hide under.
Duck and cover is what there doing know, some idiot just stuck his head up is all this is about. That sickel is already swinging.
It's not going anywhere, if it does the new pres. will do whatever including taking control of it. It's called regulation. The new power is all about regulation and the oil companys know it. It's why it's where it is now, there messiah Bush is gone and a replacement went down in flames.The new power is begging big oil to try that crap again, they can't wait for an opportunity to use the sickel and hammer on them and even though it's a world wide problem the world dances when we do. There will be no rock big enough for these robber barrons to hide under.
Duck and cover is what there doing know, some idiot just stuck his head up is all this is about. That sickel is already swinging.
So you think he is going to cap and regulate energyit like Gov. Davis did in California. Obama could earn a nickname just likeGrey Out did.
Actually the opposite is likely. Read about how the "new pres. will take control of it." Here is a little info. on Obama's energy secretary Stephen Chu.
In a sign of one major internal difference, Mr. Chu has called for gradually ramping up gasoline taxes over 15 years to coax consumers into buying more-efficient cars and living in neighborhoods closer to work. "Somehow we have to figure out how to boost the price of gasoline to the levels in Europe," Mr. Chu, who directs the Lawrence Berkeley National Laboratory in California, said in an interview with The Wall Street Journal in September.
"There's no way we can create a better future without the price of [fossil-fuel-based] energy going up," said Jay Hakes, who headed the Energy Information Administration under President Bill Clinton. "But it's tough for a politician to get up and say 'Your prices are going to have to go up.'"
Obama claims to disagree with his pick for energy secretary, but hey. He chose him. Just like he chose his pastor. He may disagree with him on raising (or letting it be known) he wants to raise the fed. tax on fuel, but if you think he wants low oilprices to compete with his plans for alternative fuels, well let's just say keep dreaming.
C. Davis
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It's common knowledge that there is a glut of oil on the market right now, coupled with declining consumer demand it would be extremely difficult to raise the barrel price much without a revolt following it. The outrageous prices of late did so much damage to the global economy that the producers and speculators can no longer justify them. Add to that the fact that the largest single consumer(us) has cut it's demand by abandoning guzzlers in favor of sippers, and curtailed much of our recreational activity,and you won't see demand rising much for at least the nextseveral years.
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Oil is up, why ?
Just like the demand dropped by 50 percent in the last couple months.
