What is Digg?119 Comments
- crash331, on 12/31/2008, -3/+52Why would I want them to recover to $150? I am perfectly fine with paying $20 for a fill up.
- EagleRufio, on 12/31/2008, -3/+49Wait, recover? I thought they just did by falling to a 5 year low?
- ninjaturtles1, on 12/30/2008, -7/+31It's only a matter of time, as soon as the US economy recovers oil prices will go back up to record highs.
- twiztidsinz, on 12/31/2008, -4/+25They -DID NOT TANK-!!!!
They normalized after the spike that was GWB Jr's Presidency. - vaguilera, on 12/30/2008, -2/+22Hopefully not, I like low priced gas, and the oil companies still manage to pull nice profits...
- MacBookForMe, on 12/30/2008, -0/+18oh, how I love that "Oil Dancing Public Spin"...(of power lobby)...they just play one of their games of deception...:)
- tmyprod, on 12/31/2008, -0/+15"Recover" is a word generally used when something/one is down in some way and you would like to see improvement made in regards to the.... ***** it, I don't know where the hell I'm going w/ this.
Recovery = feel better. We (I) do not want gas prices to recover. - kooredaan, on 12/31/2008, -1/+16Just like everything else....Unpredictable. But everyone that is overjoyed with the low gas prices needs to realize why they are so low. It's because the world economy is struggling like it never has and in the short and long term that is much worse than paying extra at the pump.
We (people in general) have short term memories, and the small strides made in becoming a more energy efficient world, exploring different car techonologies, more public transportation usage, biking/walking more, the rejection of badly designed cars, looking for alternative building blocks (instead of plastic....) etc will be quickly gone and we'll have to start from square one again.
Sure it's a double edge sword in some ways, but in the long term stable higher gas prices aren't a bad thing. - inactive, on 12/31/2008, -3/+16US economy recovering... that was a joke right?
- Tanze, on 12/31/2008, -0/+11so the article basically says that the moment the economy starts looking better, oil prices will return to their "normal" (blech) $150 per barrel. i dont really think that's progress, it's more like looking forward to shooting yourself in the foot.
- Orath, on 12/31/2008, -0/+10OPEC has no power on the prices what so ever, its the speculators who will never leave the oil prices to float freely. Before Christmas, crude dropped to $35 and this week it went up again to $39-40 on the back of Gaza. Its just funny how this "Middle-East tensions" can really impact the prices so much. A struggle that has been ongoing for more than 50 years in a land that doesn't have anything to do with oil, can be used by speculators to rise the prices 15% in just two days. and then you will see people blame the OPEC for the unacceptable prices.
We need reforms on the way the Crude Oil is traded and priced. The light sweet crude price posted today is for February loading. While operationally the pricing time lag is needed to ensure smooth operations, I suggest to shorten it by two weeks contracts instead of one month and ultimately regulate the speculators who are the major ***** (pardon my language) behind the 140s we saw mid 2008. They kept issuing reports and predictions of prices reaching 200$/barrel on the back of high demand growth from China and India and doubts of supply ability to meet it.
They kept spouting this non-sense even when the markets has been physically well supplied since late 2006, but people believed them, cause in their word "Goldman Sachs, Merrill Lynch, Lehman Brothers and Morgan Stanley are always right, and they have smart people". I guess no need to comment on the quote, since well, we are enjoying what those smart people have done to the economy.
Those speculators gained a lot with pushing crude prices from 60s to 140s all on the back of geopolitical unrest which never impacted the supply and in fact it was higher than demand. And what really shows the weakness of the wall street system (the tricks and cheats to be precise), they never deliver on those contracts, in fact the volume traded is by far more than the physical production of light sweet crude, its just paper trades. why on earth do you price your physical oil on contracts that only exist on a computer!!! no wonder you can have "high" demand and "low" supply. its just a system to manipulate the prices, but people will keep to be misled by their lies, and then go and blame oil producing countries who has no control on light sweet crude prices.
By the way, Light Sweet Crude i.e. WTI, is physically in a closed system. which means its produced and consumed only locally, it cant be exported and the consumption system is heavily set in stone. You got to wonder why the high fluctuations in price which are blamed on international factors, which will not impact the supply system locally regardless of how big it is.
We need real free market pricing for the crude. let it float freely depending on the supply demand balance. if the market deemed the prices at $10 or $20, then that is the true value of it, don't screw with the system to inflate the prices. - shoppingkart, on 12/31/2008, -1/+10It's a trap!
- AZRoboto, on 12/31/2008, -1/+8It's sounding like MSM wants the oil companies to continue their raping of consumers.
- boxxa, on 12/31/2008, -0/+6People have forgotten about alternative fuels, market regulation on oil, etc now that the economy tanked and oil is cheap. Once the economy swings back around and prices rise again, people will be back on them.
Personally, let them stay down. Not like the oil companies are going bankrupt and asking for a bailout when prices are so low.
If all goes as plan when the economy swings back, they should float around $70 USD a barrell which I can live with. - Andy1369, on 12/31/2008, -0/+6Exactly! They're acting like higher gas prices is a GOOD thing... (confused)
- Ne007, on 12/31/2008, -1/+7Recover? I thought it recovered by going down!
WTF..... - inactive, on 12/31/2008, -2/+8They ain't recovering any time soon.
FTR: If like me you're from the UK then I'd forget about oil prices and watch very carefully the Euro against Sterling battle that's boiling under at the moment ( currently standing at 1.0259 ) The implications for this are massive, expect it to reverse in the New Year and then for Gordon Brown to give the all important: 'The pound has failed, we are entering a new phase in British history' ***** speech as ( and this has been his ***** plan all along ) we're forced kicking and screaming into the Euro.
/this is my prediction for 2009, and I hope to god I'm wrong. - edebolt, on 12/31/2008, -2/+8It's a four year low in nominal terms but in real terms (constant dollars) then it near the all time low in 1998 ($11.70 a barrel)
- mehan, on 12/31/2008, -0/+5so they're not going back up anytime soon, then?
- dieboldcracy, on 12/31/2008, -2/+7i read about this 8 months ago and I didn't believe the guy when he said oil will hit 40 a barrel. I thought he was a kook. I was wrong. He said It's all manipulated pricing. The purpose is to wreck the OPEC countries economies, then take over control and send the oil prices sky high. We're going into Iran, that's obvious. We've got Iraq, Afghanistan. We've been trying to start ***** with Russia. It's not "us". It's the global banking cabal that is taking over. Enjoy it while it lasts
- jedinate, on 12/31/2008, -0/+5Simply put,Yes. Although I wouldn't call it a recovery, more like a re-fleecing.
It runs in cycles people. It was just 4 short months ago, we were still seeing "Will Oil ever drop below $2/gallon again?" stories. How quickly we forget. - blitz718, on 12/31/2008, -2/+6No, it is when the chinese economy recovers that it will go back to record highs, not US
- chosenone1, on 12/31/2008, -1/+5Bail out the oil industry........
- 808ethan, on 12/31/2008, -3/+7Gas prices going up is like pulling out a rotten tooth. Its putting you in agony already, it HAS to come out eventually, better to yank it out with one quick pull.
Paying $20 to fill up is basically pulling the tooth as slow as possible.
Give me $200 a barrel oil, and the electric cars and new tech that will come with it.
FYI you can make an electric car that turns into a submarine. You cant do that with a gas car no matter how much you pay. - Andy1369, on 12/31/2008, -1/+5Amen! I can't believe this is even a discussion. I hope to hell gas will stay at this price - under $50 is fine. Otherwise, HELL NO.
- dieboldcracy, on 12/31/2008, -0/+4you put 10 barrels of flammable liquid under 10 boxes of something you need a flame to use?
- jato08, on 12/31/2008, -0/+4I'm content with the current prices! lol
- msimeth, on 12/31/2008, -2/+5Short answer: Yes.
- handy7390, on 12/31/2008, -1/+4No, they will blame old GW for issues that carried on through Obama's term. Obama apparently is the next Christ and will save everything and everyone. He can do no wrong....
- Trick07, on 12/31/2008, -0/+3Love to find all the arrogant Digg basement dwellers going on and on about how oil prices will *NEVER, EVER* be below $100 a barrel and how this subject is closed for discussion because they know it all.
I haven't seen many of them telling us how everyone else is wrong yet... I guess they are waiting for the price to go up so they can go "see, I told you." - lilredsammy, on 12/31/2008, -1/+4"recover"? They have recovered, now.
- inactive, on 12/31/2008, -2/+5I can't wait for about 6 months so I can stuff that comment up your ass...
- czeman, on 12/31/2008, -0/+3The greedy oil company execs took more than enough of our hard-earned money this year. Leave oil prices where they're at.
- mr5150, on 12/31/2008, -1/+4gosh, your not implying that this has been the plan all along for a one world currency and one government world order and that this is just another milestone that stands be accomplished? Hmmmm....i like the theory and adopting it....LOL
Happy New Year. - linagee, on 12/31/2008, -0/+3"Will oil prices recover after tanking in 2008?"
If by recover you mean will we get gouged at the tank again, geez I hope not! - sstidman, on 12/31/2008, -0/+3The US presidential election is over, so OPEC has no more reasons to f*** with the US economy. Now their focus is to get us to forget about the whole alternative energy thing.
- kindpastor, on 12/31/2008, -0/+3If I asked antechinus what is the standard Gibbs free energy for the transformation of diamond to graphite he'd probably say that he cannot help me, as he has no chemistry background. I wonder why, then his lack of a background in economics does not prevent him from making claims in that field.
- KrisfromFlorida, on 12/31/2008, -0/+2I think we should double down on the planned alternative energy plans, that would be a good way to keep them gas prices low as well . When the world will see that we are committing $300 billion or $500 billion for green developments (no ifs and buts) .
That will control oil prices and keep them low, low, low... - dieboldcracy, on 12/31/2008, -0/+2incoming Akbar
- Tanze, on 12/31/2008, -0/+2i was talking to some customers the other day and i overheard them saying that they were going to buy a new car. I asked them if mileage was still important to them, and they mentioned that even though the gas prices have gone down so much they're still scared ***** of getting anything with less than 20mpg because they think that prices could jump back up just as easily. i was kind of surprised that some people are still thinking!
- lastmaster, on 12/31/2008, -0/+2so... paying $4 a gallon was a good thing? now i am confused
- ignacious, on 12/31/2008, -0/+2I have 10 barrels stock piled in my garage under ten boxes full of Marlboro cigarette cartons. Come find me when you are not allowed to use oil or smoke cigarettes. I got your back.
- louiebaur, on 12/30/2008, -2/+4Yea I agree they are going to stay down for a few months at least. Time to pull out the gas guzzlers for awhile before you have to put them away for a 6 month period again.
- sangjmoon, on 12/31/2008, -0/+2The global warming activists should be thrilled by the decline in oil demand. This economic downturn has done more to decrease the generation of greenhouse gases than any other past attempt. So if you want to decrease greenhouse gases, you should be supporting the global economic decline.
- emailowndme, on 12/31/2008, -1/+3oil companies (at least american ones) make profit either way, but they are able to set the price for gasoline because it has a very inelastic demand, at 4$ a gallon you will still have to buy it, because our entire economy rests on oil demand.
- emailowndme, on 12/31/2008, -0/+2There has always been a preferred currency in world trade, it just makes things easier, and actually allows for easier transition of goods, and less scams. As to 1 world government, well, we do live in the US, probably the one country who has involved itself as massively to the running's of other governments in the history of the world.
- blitz718, on 12/31/2008, -0/+2actually it is china's demand that pushed gasoline prices sky high(along with other things), their industrial movement was booming (in case you dont recall, remember all the pictures of the olympics in Beijing?) and their gasoline intake was more then twice as much as us, but now that their economy is in a big downturn they can't afford all that oil anymore so the price plummeted.
- howcansheslap, on 12/31/2008, -0/+2It will ..eventually.
- TimDigg, on 12/31/2008, -1/+3Umm they have recovered...
- kindpastor, on 12/31/2008, -0/+2The uh, why haven't they "set" the price back up to $4 dollars a gallon?
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