Oil Falls below $44 / barrel

[Facetious]

Oil tumbles below $44 a barrel, gas hits new low

COLUMBUS, Ohio – Oil tumbled below $44 a barrel Thursday and average gasoline prices slipped under $1.80 a gallon, both four year lows, as unemployment benefit claims hit a 26-year high and major companies announced more job cuts.

http://news.yahoo.com/s/ap/20081204/ap_on_bi_ge/oil_prices;_ylt=AgIQmb3M4_fmScgdgETdcShH2ocA

I wish that I had some good news to report. :o :tongue: :dunno:

 

[LBP 76]

It is good news (for America'a future). America needs a recession to correct the ridiculous amount of cheap money and massive debt that's floating around. And when the government eventually stops getting loans from foreign countries for bailouts, there will eventually be one.

It sucks in the short term; BIG time. But it's absolutely necessary for the long term growth propects of the United States.

Unfortunately, the more in debt the government goes to avoid (or lessen) the recession; the worse and longer it will be when it finally arrives in full.
I just hope these bailouts don't make it SO bad that it ends up being a multi-year depression instead of a 12-18 month recession.

 

[mongo18]

Oil tumbles below $44 a barrel, gas hits new low
I wish that I had some good news to report. :o :tongue: :dunno:

That's not good news?

 

[titsrock]

I don't know if this country will avoid a depression at this point. The oil "correction" is a nice timely thing, but it might give politicians and people a false sense of "phew."

I wish Congress would pass a bill ending Dubya's term NOW rather than Jan 20. We need our new president to hit the ground running now. Same for Congress too. The new Congress needs to be sworn in now.

If ever there was a confluence of dilemmas to necessitate a different administration changeover protocol...THIS IS THAT CONFLUENCE!

 

[regulardude2]

I love how the media almost can't bring themselves to report good news.

 

[titsrock]

If there's good news, what's stopping you from posting it? Do you know what it took for the price of oil to fall this dramatically?

Stock market crash
Housing meltdown
Corporate layoffs

These generally aren't good things.

 

[calpoon]

the funny thing is that other than lost jobs and the people that suffered in the housing burst, this isn't really effecting the normal blue-collar Joe. In some ways, it's helping him, like the price in oil drop and if everything else dropped too, it would be good for us. Those people are still buying all the same things that they bought before, because they never had a disposable income. It's all the people in the upper classes that are saving their money in panic and not investing it or making the large purchases, and those are also the people that are losing all their money in the market.

hopefully these idiots in the government have wised up to the bailout nonsense and stop taxing the working people for their undeserved share. yeah, right.

 

[member2224]

Like someone earlier said, this could be a good thing for the country. For too long, average people were living out of their means and using their homes as ATM's while the real estate bubble grew. Using debt to finance your lifestyle can only work for so long until the cards come tumbling down. Even our government is in massive debt. Tough economic times are almost necessary to get us back to a reasonable way of life.

 

[Legzman]

below $44 a barrel? It's still way overpriced.

 

[Dean Wormer]

below $44 a barrel? It's still way overpriced.

Just curious. What would you consider a fair price and how do you determine it?

 

[Will E Worm]

Good.

I hope it keeps falling. They made too much money already.
Greedy liars.

Just curious. What would you consider a fair price and how do you determine it?

When they aren't making astronomical profits.

Gas is a necessity and they would make enough money if they went back to $1.00 a gallon for all grades.

Less than a dollar would be nice.

 

[maildude]

It'll be interesting to see what OPEC does when the panic really starts setting in.

 

[busenbust]

IMO, Bears are now in control: we might see $30 first, before we begin the ascent

 

[titsrock]

I paid $14 for 9 gallons yesterday. FUCK ME THAT FELT NICE. I can't recall the last time I paid that. High School?

 

[Funkwerkz]

Oil should be $20 a barrel.

 

[titsrock]

It'll be interesting to see what OPEC does when the panic really starts setting in.

They could always cut supply to the market. But then they'd "crash" the entire planet.

OPEC is going to have to feel some profit pain for the 2009 year....

 

[Legzman]

Just curious. What would you consider a fair price and how do you determine it?

Oil should be $20 a barrel.

Yea, $20 a barrel sound fair. That way the fuckin oil companies will still make billions every year.

 

[Magnet]

the funny thing is that other than lost jobs and the people that suffered in the housing burst, this isn't really effecting the normal blue-collar Joe. In some ways, it's helping him, like the price in oil drop and if everything else dropped too, it would be good for us. Those people are still buying all the same things that they bought before, because they never had a disposable income. It's all the people in the upper classes that are saving their money in panic and not investing it or making the large purchases, and those are also the people that are losing all their money in the market.

hopefully these idiots in the government have wised up to the bailout nonsense and stop taxing the working people for their undeserved share. yeah, right.

Yeah except for all the the average joes who are saving their money because they dont know if they will still have their job a year from now.

 

[PlasmaTwa2]

Man, gas is seventy-five cents a litre up here. In Ontario it's less then seventy. Compared to just four/five months ago...

Today might not be a good time for the economy, but it sure as hell is a good time to be a driver!