Oil prices down 48% in the last 3 months

[bettilimbroke999]

http://news.yahoo.com/s/ap/20081015/ap_on_bi_ge/oil_prices

Apparently the global economic crisis has oil worth next to nothing, gas prices falling like rocks, it's a good time to be a gambler that's for sure, all those with 9-to-5s and retirement plans have now lost nearly half their retirement in the last year, meanwhile a gambling degen like myself with no retirement plan has lost absolutely nothing.

[Willie Bee]

Paid $2.63 a gallon yesterday, sure is nice not dropping a Benjamin each time I fill up my old pickup like I was doing this summer.

[donjuan]

all those with 9-to-5s and retirement plans have now lost nearly half their retirement in the last year, meanwhile a gambling degen like myself with no retirement plan has lost absolutely nothing.

Because everyone's 401k is 100% invested in the price of oil. Is there any subject on which you aren't a moron?

[Brock Landers]

Economics
The Coming Oil Crash

by John Cassidy | See Archive
Crude at $100 a barrel makes good headlines but ignores basic economics. Why oil prices are in for a 50 percent drop.If you haven't got the message that something disturbing is happening in the oil world, stop by my office. On my desk, I have a pile of books a foot high with titles like Out of Gas, The End of Oil, and Twilight in the Desert. The authors range from geologists to journalists to policy wonks, and they all tell the same story.

For years, oil industry executives dismissed fears of an energy crisis, attributing rising gasoline prices to unrest in the Middle East, Wall Street speculation, and temporary interruptions in supply. But recently, as the price of crude has bounced around $100 a barrel, even some establishment figures have been making alarmist noises. The Paris-based International Energy Agency warned of a possible "supply crunch" within five years. Its chief economist, Fatih Birol, said prices could reach such a high level that "the wheels may fall off" the global economy. In the U.S., the National Petroleum Council, a federal advisory group, said that as the economies of China and India continue to expand, global energy consumption will rise by 50 percent over the coming quarter of a century. "There is no quick fix," said Lee Raymond, former chairman of Exxon Mobil, who leads the council.

Perhaps not. But the experts who are predicting the worst, based on geology and geopolitics, are missing the crucial role that economic incentives play in determining the price of crude. The tripling of oil prices since the summer of 2003 has unleashed forces that within the next two or three years will bring oil prices tumbling back down to below $50 a barrel. Looking even further ahead, prices could easily fall to $30 a barrel or even lower. So before you trade in your Cadillac Escalade for a Toyota Prius, think twice: $1.50-a-gallon gas might not be gone forever

[bettilimbroke999]

Because everyone's 401k is 100% invested in the price of oil. Is there any subject on which you aren't a moron?

It's b/c they are invested in the markets, you clearly have the IQ of a turnip please repeat the 3rd grade before you read any more of my threads

[fiveteamer]

want to get rich?

go long on oil. Why?

common sense.

[bettilimbroke999]

want to get rich?

go long on oil. Why?

common sense.

Very good post, going long on oil now may be the best investment of the year, prices rose from 20 to 150 a barrel between 2002-2008, it is very unlikely they stay below 80 a barrel for long

[donjuan]

It's b/c they are invested in the markets, you clearly have the IQ of a turnip please repeat the 3rd grade before you read any more of my threads

Irony. Anyway, feel free to create random thread titles in the future. Additionally, you are no better off when the economy is doing poorly since I'm assuming you have a job (clearly you don't make a living from gambling). Just because you are a tard with no savings doesn't make it good to be a retard.

[fiveteamer]

I think donjuan needs to get laid.

All his posts are attacking somebody.

Guy never says anyting positive, why even come here?

[donjuan]

Correction: Nothing positive to say about imbeciles.

Edit: I come here for the posts of Ganchrow and others.

[bettilimbroke999]

Dumbjuan for someone who doesn't like my threads you sure seem to read alot of them . Ever since Corky from Life Goes On beat you on Jeopardy you've been a jackass

[donjuan]

I always open them thinking they couldn't be as dumb as the last yet they continually amaze.

[durito]

It's b/c they are invested in the markets, you clearly have the IQ of a turnip please repeat the 3rd grade before you read any more of my threads

I'm invested in many markets and doing quite well thank you.

[bettilimbroke999]

I'm invested in many markets and doing quite well thank you.

Good for your dury, you should share your investment strategies with all the investment firms asking the govt for a billion dollar bailout, they could use your help, along with the fund managers who have lost 2 trillion dollars worth of people's retirement savings in the last 15 months. All along they could've called dury and straightened this whole thing out

[Illusion]

Paid $2.63 a gallon yesterday, sure is nice not dropping a Benjamin each time I fill up my old pickup like I was doing this summer.

Not bad at all. When I last checked (2 days ago) gas was still $3.22 here.

[bigugly]

I'm not really trying to imply anything, but wasn't the last time gas prices significantly went down right before the last presidential election? Maybe my memory is just shot...

[Illusion]

I'm not really trying to imply anything, but wasn't the last time gas prices significantly went down right before the last presidential election? Maybe my memory is just shot...

I think you may be right. I do know the stock market didn't plunge like this four years ago though.

[Chi_archie]

I thought gas prices were just starting too shoot up right before the 04 election...and that was a big topic between bush and kerry that year... my memory is kinda fuzzy around that time though..... but for real i thought that was the time period that we FIRST started seeing big price increases..summer of 04?

[Chi_archie]

inflation adjusted graph.. interesting but not sure how accurate

http://inflationdata.com/inflation/images/charts/Oil/Gasoline_inflation_chart.htm

[durito]

Good for your dury, you should share your investment strategies with all the investment firms asking the govt for a billion dollar bailout, they could use your help, along with the fund managers who have lost 2 trillion dollars worth of people's retirement savings in the last 15 months. All along they could've called dury and straightened this whole thing out

Just because many people are incompetent at their jobs, doesn't mean everyone is.

[Tevez]

People of USA, if you want to invest for the future you need to find what is the real thing.

Economy in richs country is unreal, you are dealing with shares or markets without any base ( big sharks pocketing all )

If you deal with these people you always will loose

I don´t know if I can explain well, but only 10% of your economy comes from hard work, the other part comes from stock and real estate speculation. It's bullshit !!!

The men that built your great industrial empire in the past, made sure of it because it was their money at stake.

Today, management has no stake in theirs company!!!!

The best opportunities of investment are in the developing countries where the economy is real...., the best opportunity of investment when the world is in crisis is the real thing, is to go to the basic needs.

If your purchases 5 fertile hectares of land in my country you will not spend a lot of money and will be buying something real, which always is valuavle and nobody will be able to take from you,

only for putting an example, not to misinterpret what I say

I don´t have real estate agency or interest to do business with anybody,

only I am giving an advice of my own experience