robc935

Crude Inventories: Largest Weekly Build Since March 2001

To Ernie M. The national average price for gas has dropped about .35, not a dollar. Oil may very well go to $150-$200 a barrel----and probably stay there for a week as the world economy implodes. If people in India are buying the new $2500 Indian made car, what makes you think they can afford $10 a gallon gas?

Too Soon to Re-enter Oil Stocks?

Glad to hear cook503 is going to load up on nat'l gas, it's not like half the country heats their homes with it and the price has already tripled in the past 5 years. As long as you make money, who cares who pays the difference.

The Oil Bubble Will Meet the Same Fate as Tech, Housing

India's economy is already showing signs of trouble, China has been subsidizing gas prices as have many of the surging economies. Infrastructure for all these new cars isn't in place. Once the Olympics are over and the world's eyes aren't focused on China I think that their overheated economy will hit some bumps in the road. High oil prices will ultimately kill world demand or at least slow it down. But gee wiz, if Goldman Sachs says oil will hit $800 a barrel then surely it will.

NYMEX: Speculators Aren't Driving Oil Market

A report I heard yesterday said that 95% of all futures contracts aren't by actual end users. Futures buyers can buy on margin of as little as 5%. I thought that buying anything with those kind of margins ended with the great depression. The Dems have controlled the congress for less than a year and half and any attempts to undo the Bush admistration's messes have been vetoed or filibustered. The republicans had complete control of both houses of Congress for 6 years and our country is in the worst shape since the 1930's. We give the oil companies tax breaks, they have record profits and spend most of it buying back shares instead of exploring new sources, researching alternative fuels etc.. All the while selling distillates to foreign countries while our truckers pay record prices on diesel. The greed that controls our economy is mind blowing.

$100 Oil: Analysts Out of Sync With Traders

Same old story. The rich get richer, the rest of us bend over, and the economy goes down the toilet. Commodity traders need to be reined in, no oversight by anyone and they have ability to wreck the economy while laughing all the way to the bank. The folks in this country that actually work for a living are paying the price. The numbers and dynamics are virtually identical to last January when oil was $55 a barrel. It's all about greed.