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What's OPEC To Do?
http://news.yahoo.com/s/ap/20070108/ap_on_bi_ge/oil_prices
It seems even putting out rumors of production cuts isn't effectively spooking the market. |
Donkey control of Congress is good for a $10/bbl price discount. That, and obviously GW is losing his ability to increase profits for his cronies. It is time to wage a new war in the Middle East. Free SUVs for everyone.
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With prices consistently declining. I give it a week, tops, before we see some saber-rattling from Iran and/or Venezuela.
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Interesting that oil prices have been low for weeks, but prices at the pump haven't changed appreciably.
Hmmmmmm. Last summer, if a Shiek farted in SA, oil prices went up and gas prices went up almost instantly in response. I'm sure it's all completely explainable and ethical. Nothing to see here. Move on... |
Speculation on my part, but we may be running at capacity at refining plants in the US, so gasoline prices may not show significant change.
The decline is more widespread than crude oil. Copper and other materials are declining, as well, indicating that some speculative positions are unwinding and/or demand is falling. |
Our price at the pumps just dropped 10 cents a gallon yesterday from $2.19 to $2.09 for regular unleaded.
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