Crude oil - $90/barrel

[Massive Lee]

As of this morning, the barrel of crude oil sells for $90.25 on Wall street. A very low value compared to around $145 a few weeks ago. Has anyone seen the price of refined fuel go down by the same percentage?

BTW When even oil, which is a huge speculative item, goes down that much, there must be something wrong with the worldwide market. $700 billion influx proves not to be enough to reassure investors and banks. It was only a small hole in the dam. How many more holes to plug now?

A worldwide recession is coming our way. It will affect many countries that export to the US. Europe is already touched.

[Charlie]

As of this morning, the barrel of crude oil sells for $90.25 on Wall street. A very low value compared to around $145 a few weeks ago. Has anyone seen the price of refined fuel go down by the same percentage?

BTW When even oil, which is a huge speculative item, goes down that much, there must be somethng wrong with the world wide market. $700 billion influx proves not to be enough to reassure investors and banks. It was only a small hole in the dam. How many more holes to plug now?

A worldwide recession is coming our way. It will affect many countries that export to the US.

Yep.

Go read the world financial reports, European banks are just as, if not more fucked than we are. There's real worries that the Euro doesn't have the reserves to shore up their collapsing banks.

Hell, with the tanking dollar, it's getting cheaper manufacture stuff in the US again, that's a "plus".

http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/3118994/Financial-Crisis-So-much-for-tirades-against-American-greed.html

-Charlie

[atomic]

Has anyone seen the price of refined fuel go down by the same percentage?

Hell it wouldn't matter here in the southeast. 50% of the stations are out of gas and the ones that do have any, usually only 87 octane is available.


:eeek:

[blunttech]

fuel in the HC is 3.15 gallon for regular. seems cheap in todays world but still a long ways from what id like to see

[Raxe]

I love how we've known this was coming for years yet for some reason denied it.

[kylebes1]

I am, for once, glad that I have no money... being poor already seems to be a good thing.

That and 700 billion is not that much money relative to the big picture.

[h0lmes]

I love how we've known this was coming for years yet for some reason denied it.

I can't remember the last time someone said the economy was "good". For years it's been "recession, high gas prices, unemployment, etc". That's one reason I don't fully buy into all this bullshit. The economy is in the shitter most definitely but the more people listen to the scare tactics that the media feeds them, the more they stop spending and the more they pull their money from banks, etc. the worse it gets. People just need to go about their lives.

[Massive Lee]

Here in Canada, older peoples who have invested for their pension plans have seen their assets dive by at least 15%, while 30% has been seen. Let's all buy mattresses and hide our money there.

[Turf1600]

I can't remember the last time someone said the economy was "good".

You must have heeter on ignore

[Das Boots]

Cheap fuel will be a temporary due to this upcoming world recession. Fuel will jump this winter which will drive the crisis more into the tank......Nobody will be spared. Everybody will be affected one way or another. Rich, mid & the poor. Whoever will be the next Prez, will probably ask for a recount and will be a one term Prez. The Joe Public will always want immediate relief. This crisis will take 2 years or more to right itself. Sorry for being the bearer of bad news...but please, don't kill the messenger. Just reality & facts.

[kylebes1]

Here in Canada, older peoples who have invested for their pension plans have seen their assets dive by at least 15%, while 30% has been seen. Let's all buy mattresses and hide our money there.

The money will not be worth anything is the issue. Where do you think the 700 billion (actually more like a trillion by the time they [ear marks is the favorite word of the candidates] get all their wants cared for) is coming from? We are borrowing it from other countries which decreases our REAL national security.

In WW2 Germany attempted to harm Great Britain's economy by printing counterfeit money for use in purchasing war materials. The difference is America is doing it to itself.

Old people are getting fucked once again. No more social security and no more retirement fund.

[archemedes]

I was told by the guys at the shell refinery (just a few miles from my house) that they finally started production for the year (shell was at minimum capacity here for the last 6 months for no real reason according to their people who work there) gas has gone down a ton here (3.40 a gallon for regular from right at 4.00 last week) not sure why Atlanta, and Charlotte areas don't have gas, we have plenty in Mobile (6 hours from Atlanta)

[SpecM]

Gas availablity is hit-or-miss in Winston, NC. Sucks.
And all the gas that we can get is freshly pumped into empty station tanks, so its full of trash and water.

[Charlie]

http://www.reuters.com/article/marketsNews/idUSISL37755820081006

Allright, 6 months after tossing their US-friendly government, Pakistan is bankrupt.

This will end well.

-Charlie

[FredK]

Cheap fuel will be a temporary due to this upcoming world recession.

Why?