OPEC melts down and oil drops 5%

[kydonky]

Amen brother

[HURRICANEBOB]

Oil prices ought to be more like older men. Down more often, and down for longer periods of time. I mean from a perspective of working vs resting of course.

[bassin_bug]

Oil prices ought to be more like older men. Down more often, and down for longer periods of time. I mean from a perspective of working vs resting of course.

That's interesting; are you speaking from experience? I saw a guy this morning who told me about a 99 year-old bachelor who is in a nursing home. He had never been married....until last Sunday. I wonder if the wedding gift from his doctor was a prescription for Cialis.

I have a cousin who is a doctor and has a great sense of humor. He said that if Hugh Hefner had used Cialis instead of Viagra that pretty young woman wouldn't have broken their engagement. lol

[RoadToad]

I don't get the timing on tapping the reserves. Back when OPEC tightened up the supply and prices were high, they wouldn't do it. Now, when prices are already dropping, they decide to tap the reserves. Don't get me wrong; if it saves me money, I'm not complaining. I'm just having a hard time understanding the logic.

[artcarney_agr]

I don't get the timing on tapping the reserves. Back when OPEC tightened up the supply and prices were high, they wouldn't do it. Now, when prices are already dropping, they decide to tap the reserves. Don't get me wrong; if it saves me money, I'm not complaining. I'm just having a hard time understanding the logic.

The timing is perfect for someone to start a campaign for re-election. You're going to see lots of "I care" moves in next few months. Do you think it's any coincidence that the news is now clamoring about a few troops coming home? There's plenty more to come...

[HURRICANEBOB]

That's interesting; are you speaking from experience?

Not as far as you know....

Efficiency means accomplishing work with less effort and more time for rest.

[walkeraviator]

I stick to my stance that we are paying what we shoudl be paying for gas. The problem is that we got so used to our wages going up and gas prices staying teh same, we started budgeting that money for other things. Now that gas prices have caught up to inflation in one big jump, we are feeling the pinch. Yes it *****, but it was just a matter of time before printing money to buy oil cheaper than teh rest of the world caught up with us.

1981..Median Income 19,000...Today its approx. $50000 (most recent was 2009 at $49777) That is an increase of 160%

1981 Average New Home Price was $83000, today it is over the 2006 data of $305,000.... that is an increase of 270%

1981 Gas was $1.38/gal (national average...i remember paying the same price in teh late 90's)... Todays gas price nationwide is an average 3.55/gal.. an increase of 157%
http://fuelgaugereport.aaa.com/?redi....com/index.asp


Seems like its just keeping up with inflation to me. Yeah it *****, but that is the reality. We are not spending any higher a percentage of our income on fuel than my parents did 30 years ago when I was born.

[kyfanatic]

I stick to my stance that we are paying what we shoudl be paying for gas. The problem is that we got so used to our wages going up and gas prices staying teh same, we started budgeting that money for other things. Now that gas prices have caught up to inflation in one big jump, we are feeling the pinch. Yes it *****, but it was just a matter of time before printing money to buy oil cheaper than teh rest of the world caught up with us.

1981..Median Income 19,000...Today its approx. $50000 (most recent was 2009 at $49777) That is an increase of 160%

1981 Average New Home Price was $83000, today it is over the 2006 data of $305,000.... that is an increase of 270%

1981 Gas was $1.38/gal (national average...i remember paying the same price in teh late 90's)... Todays gas price nationwide is an average 3.55/gal.. an increase of 157%
http://fuelgaugereport.aaa.com/?redi....com/index.asp


Seems like its just keeping up with inflation to me. Yeah it *****, but that is the reality. We are not spending any higher a percentage of our income on fuel than my parents did 30 years ago when I was born.

I disagree,wages haven't increased that much in comparison to cost of living,I know I was working 30 years ago and fuel prices were nowhere near what I put out today, I was making $32,000 a year in 1981 and I doubt if I spent $50 a week on gas,I only make about $10,000 more a year today and spend $140 on gas and drive fewer miles.You can dig up every statistic you want,but we are being screwed in the name of Green Obama.

[kydonky]

I disagree,wages haven't increased that much in comparison to cost of living,I know I was working 30 years ago and fuel prices were nowhere near what I put out today, I was making $32,000 a year in 1981 and I doubt if I spent $50 a week on gas,I only make about $10,000 more a year today and spend $140 on gas and drive fewer miles.You can dig up every statistic you want,but we are being screwed in the name of Green Obama.

wow, another person bind to greed of big oil corp. Record profits year after year after year. Blame obama, saudis, g w bush anybody but big oil. Gas will keep its grip on us with thinking like that. Gas is going up if we don't take some of the monopoly from opec, exxon, bp and oil in general. Obama has not been that green I think bush signed more environmental laws than obama. But heygotta blame someone and it can't be big oil.