Omaha Steve (31,854 posts) Profile Journal Send DU Mail Ignore
Oil falls to near $96 as US crude supplies jump
Source: AP-Excite
By ALEX KENNEDY
SINGAPORE (AP) - Oil prices fell to near $96 a barrel Wednesday in Asia, extending a weeklong slump after a report showed U.S. crude supplies jumped more than expected last week, suggesting demand remains weak.
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doc03 (11,981 posts) Profile Journal Send DU Mail Ignore
2. A month ago all my Rethug friends were blaming Obama for the high gas
prices. This morning their talking points "You can tell the election is this year the gas prices are going down". I
assume they must have heard that on Faux yesterday. Another one is they heard if he gets re-elected this year he is going to take our guns away. That comes from that fair and balanced NRA some DUers defend all the time. Then there is the
one about he didn't have anything to do with killing Bin Laden, any President would have done that if he got the chance.
Then of course Obama got the idea from Mitt Romney to save GM. They just make this shit up as they go.
Liar.
You have no friends, only people who haven't eaten you yet.
However, had you studied remedial economics you would know that as prices rise, demand falls as consumers are priced-out of the market.
As demand falls inventories increase. Inventory is just another name for stagnant capital, so suppliers will lower prices to move inventory thus allowing those previously priced out of the market to return.
Bonhomme Richard (7,029 posts) Profile Journal Send DU Mail Ignore
6. "crude supplies jump"
Ooops! Someone miscalculated. They will have to fix that.
ieoeja (7,102 posts) Profile Journal Send DU Mail Ignore
11. They will. They cap US oil wells below $100.
Not all, I suppose. But I have always heard that $100 a barrel is the price where they start unplugging all the capped wells in the United States. Apparently, we still have quite a bit of oil in this country. Like most things, it's just cheaper getting it from overseas.
And, of course, it lets us save our oil in the case of future need.
On a more negative note, expect to see an uptick in unemployment. When they cap the wells, they also lay off employees.
And they can manipulate the market because the BIG oil producers can bribe officials to not grant leases to smaller producers.
If more smaller producers were allowed to enter the market supply would continue to increase, further lowering prices (and lowering unemployment while raising tax revenue).
But the regs YOU insist on using to protect lesbian snail darters are being used by large corporations to enforce their monoplies.
Then there's this:
DonCoquixote (3,448 posts) Profile Journal Send DU Mail Ignore
8. this is where Bibi
Will start firing up the jets to strike Iran. Gas prices must be high to defeat Obama.
drechen Juden!
The Jews hate America's first black president just because they're Jews!!!
http://www.democraticunderground.com/1014116897
