Wow this is pretty big news. The price of a barrel of oil has fallen by over 100$ a barrel in just a few months.

What does this mean for oil producing countries?

What does this mean for the rest of the world?

Well I can tell you that here in the UK we haven't seen such a fall.... Infact, I have heard that its going up again. (Most likley because of another dumb UK law/Tax)

And.... I heard a while ago that OPEC countries are taking a stand at this news after pumping out extra millions of barrels a day, by decreasing the supply in order to get the demand back up.

So I would expect the price to rise again....

Its a real pain, as to be honest, the "shortage" is unfounded and lacks evidence.
Its all a sham.


[edit on 4/12/2008 by Kliskey]

[edit on 4/12/2008 by Kliskey]

I read on the internet that oil is on it's way down to $20.00 a barrell. I wish I had the link to it.....

Originally posted by ARNOMANNN
I read on the internet that oil is on it's way down to $20.00 a barrell. I wish I had the link to it.....

Yes Merill Lynch said this today.

All I know is, when it hits this low (if it does) I am buying energy etf's like crazy.

Opec can cut production all they want. But there's nothing they can do to prevent the coming of the Mass Camel Transit System.

I personally think that the oil companies know about something and used the money making to storage away money or use it for something very important cause something big and bad is going to happen to them or us... Who knows... I just see it as a bit questionable when they can drop from 100 to 43.... hmmmmm

It makes me nervous to be quite honest. I am waiting for the other shoe to drop and it shoots back up again.

I am not holding onto any romantic notions that it is going to stay that way, and I am very much appreciatign it every time I fill the tank.

Horrible news for Alaska. We have been untouched by the recession but this will hurt. OUCH!

Well it certianly wont help things much by having the price drop that low, but it does help with heating oil costs and fuel costs. I rather like the prices now, early 1990's rates. It just means I can fill up my 72 Roadrunner's tank for less than 20 bucks again and drive it more than the stupid 4cyl tot box I had to drive when prices were over 4 bucks a gal.

Sure feels good roaming the streets once again with raw MOPAR 575 horses rumbling at my command.


I would start taking advantage of the drop in price and start storing some fuel folks. Do it before that price gets jacked up again and your gonna wish you had.


Prices of food stuffs has also dropped, start stocking up on that too, dry goods, canned goods, non-perishables, gallon jugs and fill them with water. Hit hardware stores for solar pannels, rechargable batteries, LED flashlights and light assemblies, even find yourself a good deal on a portable generator..preferably 4 stroke.


It very well may be that these oil companies are trying to send the message that they prepared, now its your turn..so take advantage of it while you can!!!!


Cheers!!!!

Originally posted by downtown436
Wow this is pretty big news. The price of a barrel of oil has fallen by over 100$ a barrel in just a few months.

What does this mean for oil producing countries?

What does this mean for the rest of the world?

Main line metal prices have already fallen this year more than they did during the 1929-1933 period. (percentage wise)

Do the math.

JK

Originally posted by leo123
Never, ever, trust reports like this.

Never, ever, trade reports like this

Most of the gasoline burned in vehicles comes from natrual gas condensate, not crude. Diesel and kerosine does come from crude, as does plastics, synthetics, lubricants and certian medical chemicals and other things.

In any case, take advantage of the low cost now while you can. It doesnt make much sense to squabble about the reasons why while the price remains low. You might miss the boat and wham..the price is back up there at 4+ per gal.

If you dont move..you loose.



Cheers!!!!