Oil < $70. Gas < $3 . Exxon can't be happy.
 

Are the oil conspiracy theories dead? Somehow I doubt it.

Some GFYers must be much in debt after losing on Google, real estate, the USD, oil, and what not.

its funny how oil prices dropped almost in half yet my pump prices haven't

they were just price shocking with gas

i also think the market "troubles" are artificial as well :2 cents:

It said that on the news here yesterday. The cost is around half it was in the summer, yet the price drop we get at the pumps is nowhere near that !

Ride a bike.

Yesterday's cost: $0.00

Today's cost: $0.00

And for those who don't want to ride a bike, there is public transport. :winkwink:

http://testimonials.epromos.com/school-bus-resized.jpg

They probably make more $$ now then ever, costs are close to half, but the price at the pump is nowhere close to that...

they are makeing less, look at the most recent financials, they are down 5 billion, I believe. Don't you feel sorry for them...?

Oh and they paid out 14 Billion in world wide taxes, so in bailout we gave them another tax cut... again don't you feel sorry for them...?

Oil prices increased faster than gas prices on the way up. If gas had increased as much as oil then the price at the pump would have been US $6.00.

If you remember the refineries were reporting lower profits because of this.

Here is a quote from an article back in June.

"Companies that refine oil to produce gasoline and other products have been struggling to pass soaring crude price on to their customers. While oil in the U.S. has nearly doubled in the second quarter, gasoline prices are up only 25.0%."

Here is the data.

Source: http://tonto.eia.doe.gov/dnav/pet/pet_pri_top.asp

Gas crude
Jun 310 67.49
Jul 301.3 74.12
Aug 283.3 72.36
Sep 283.9 79.91
Oct 284.3 85.8
Nov 311.8 94.77
Dec 306.9 91.69
Jan 309.6 92.97
Feb 308.3 95.39
Mar 330.7 105.45
Apr 349.1 112.58
May 381.3 125.4
Jun 411.5 133.88
Jul 414.2 133.37

You can see here that oil almost doubled from June til August while gasoline only increased by about 34% for the same period.

The oil spike was calculated and intentional.

it was a commodity futures bubble

which is another word for "rich guys orchestrating a artificial huge spike in product cost"

sorta like Enron & the California blackout, but on a worldwide scale :2 cents:

Gas needs to be like $6-7 a gallon so the freeways are empty :)

I would actually be happy with that.....only it would drop sales for all of us.

Remember, rich people, rely on poor people to get rich :2 cents:

$70 barrel is great news! Viva la $35/barrel :)

Brad