Gasoline contracts are hitting 2.25 on futures. That means were going to be at 3 a gallon sooner than latter. We have 15 year of supply of inventory plus no jobs. Whats going on libs!
Gasoline prices should go up. The fair market value of gas at the pump is much higher than $3/gallon. Prices at the pump have been held artificially low by hypocritical Republican market intervention in the form of corporate welfare to oil companies.
You right wing morons don't even see that your tax dollars are being used to pay for gas, even if you don't use that gas.
Funny how the party that is so anti-government, pro free-market and anti welfare is the one responsible for government intervention of the oil industry in the form of corporate welfare.
Assuming what you say is true (I didn't see a link) then what you are saying is instead of the Rich people (who pay the huge majority of taxes in this country) subsidizing the Oil Companies through taxes, the single mom with 3 kids that works at Wal-Mart gets to share the burden too at the gas pumps.
You Libtards just love to kick the poor and middle class in the nuts don't you?....
Power Lunch Pimping oil after a Government reported a 4.1 million barrel build.
CNBC 3/3/2010 12:48:35 PM: joe, we appreciate you spending the time with us wherever you're calling from, whether it be space mountain or epcot. i still believe oil goes to 90 before it goes to 60. >> what kind of premium is in oil because of geopolitical fears? >> i don't believe enough, actually. i think people look at the situation with israel and iran and they believe there will be a benign ending to it and we all hope there will be, but supply could be disrupted atted end of the day at some point here in the next three to six monthis and think the market is underpricing it. >> i think you're exactly right. if there were geopolitical premium price in the crude we would see vices far higher in my view. >> to your point about the grains, when you look at a mean reversion trade, there's tremendous opportunity there. i would look at ag names, potash, and guy adami's look at freeport mcnamara back above 80 bucks today. >> enjoy it's a small world. it's one of my favorite rides. >> let's move on to europe breathing a sigh of relief. the greek government approved a sweeping new austerity program aiming to rein in a bulging deficit and secure european financial reform. bine, you've been playing the space closely. what do you do with the national bank of greece.
Again Power Lunch Pimping Oil even after the Government showed builds.
CNBC 3/3/2010 12:45:33 PM: your fast money crew today the monster, john najarian, jared levy, brian kelly of conundrum kelly and steve cortes of vera cruz. brian kelly, i want to kick it off with you, certainly dollar weakness driving this commodity trade here at this point, but is this something that you believe? i.e., do you believe that the euro has taken off? >> i think it's simply a relief rally in the euro. we'll talk about greece in a little bit, but you have to look at the commodities that are rallying here today. you look at oil rallies which has geopolitical tones under it and oil, which isn't the commodity that will rally. >> what's a commodity you want to rally? >> you want to see something like the grains rally. , to the issue with the wall street bjornal putting out the story about all of the commodity funds and all of the hedge funds getting short the euro. the more people piled on one side, you're going to have exactly what b.k. just described and that is a little jerk to the other side and then i think we get right back to work. in other words, i don't think the all-clear has been sounded not by a long stretch for the euro so i think you take advantage of the little blip to the outside of the euro and i think we get back to work and this thing breaks over 130. i don't want we had dead data this morning and we're seeing industrials move higher, and jared levy what do you make of the moves in the market. yes, the numbers themselves look freddie flat, but you do see pockets of strength within. >> there are, melissa and we continue to see the m and a activity which is a sign that money is going back to work and melissa, it's want just the private equity firms buying the cashing, because they feel the stocks aren't cheaper here. the adp number and i would be concerned going into friday's number and the action has been bullish and i believe that's a side we need to lean on rate now. let's hit the chart of the day here because this is an interesting one and this has to do with commodities and you're...
Where did you go to school?I want to make sure the grandkids don't go there and end up functionally illiterate as you have proven yourself to be.
A disgrace you are to the American educational system,timthetrader