to turn the knob on your door and walk out of the house once in a while. All this yaking about demand falling off a clif etc etc...... Yeahhh RIGHT, SURE!!!!!
THE DAY I GET ON THE BELT PARKWAY AT 5:30PM AND FOR ONCE IN MY LIFE NOT SEE ANY TRAFFIC..,, IS THE DAY I BELIEVE THE DEMAND HAS FALLEN OFF TO JUSTIFY THESE OIL PRICES..
UNTIL THEN SHUT YOU STUPID PIE HOLES... OR AND BY THE WAY THEIR IS STILL A SH*T LOAD OF SUV'S ON THE ROAD.
THE ONLY REASON OIL HAS DROPED TO THESE LEVELS.. IS BECAUSE THE U.S. HAS DROPED OVER 50% OF STRETIGIC PETRO RESERVES ON THE MARKET.. CREATING A TEMPORARY OVERSUPLY. The operative word here is TEMPORARY!!!!!!!!
WHAT FACTS. THOSE PENGUINS CAN NOT POSSIBLY GIVE YOU FACTS. MY FACTS ARE SIMPLE....
AS I said before when I get on the HWY and for once in my life not see the same heavy traffic that i've been seeing for the past 20 years is the day I will believe in your stupid baseless facts. until then go have sex with those two penguins... you feable minded dunsky.
SHORT IT UP SUCKER!!!!
Your problem is, you are valuing oil at $140 a barrel, just because it had that BS run up there. You should value it at $70-$80. And based on that value, oil seems to be priced correctly.
Basing oil's current price off it's all-time high is a serious error.
I'm not basing my argument on $140 oil. I was saying the same thing when the price was above $100. It was b.s. Then on the upside just like it is b.s now on the down side. The true price is somewhere in the middle around 50-60 not 30 or 20 or 120 or 130. Get it.
this is the truth:
U.S. to resume buying oil for strategic reserve
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A day after a congressional ban expired, the Energy Department announced today that it will resume buying oil for the Strategic Petroleum Reserve.
The purchases come as prices have fallen from a high of $147 a barrel last summer to about $46 today. Congress had banned government purchases for the reserve, a series of caverns along the Texas-Louisiana coast, because of high prices and tight supplies. The ban expired at midnight yesterday.
The DOE plans to buy 12 million barrels to replace oil sold from the reserve in 2005 after Hurricane Katrina disrupted supplies. An additional 2.18 million barrels will be bought to make up for missed allocations, and refiners are being asked to return 5.5 million barrels that were loaned from the U.S. reserve last year after hurricanes Gustav and Ike.
For 2009, the government plans to buy 25,000 barrels a day. By year's end, the reserve will hold 727 million barrels, about 70 days of oil imports.
Here's the DOE's news release and data on petroleum supplies.
The AP and Bloomberg have more.
Posted by Michael Winter at 06:06 PM/ET, January 02, 2009 in Energy | Permali