Comments on: Analysts Ponder If Oil Bubble's Burst

Oil Recorded Another Drop Friday, Placing It Almost $20 A Barrel Lower Than Its Peak

[ofbyfor1]

I saw a news story today about some lawmaker proposing to bring back the 55 mph national speed limit. Now, if $4.75 a gallon gas ain''''t gonna slow us down, what the hell makes ''''em think a law will??

Posted by hadenough43 at 02:31 AM : Jul 19, 2008

Good point. But the speeding fines might do it.

I saw a news story today about some lawmaker proposing to bring back the 55 mph national speed limit. Now, if $4.75 a gallon gas ain''t gonna slow us down, what the hell makes ''em think a law will??

[ofbyfor1]

How come is it that people shell out big bucks for a gas saver car - then take off down the freeway in it 80 - 90 miles an hour? Doesn''''t that kinda defeat the purpose?

Posted by hadenough43 at 02:15 AM : Jul 19, 2008

LOL, yes. Glad I drive a stick-shift Honda Civic at 55 mph. More than 240 miles per 8-gallon fill-up!

How come is it that people shell out big bucks for a gas saver car - then take off down the freeway in it 80 - 90 miles an hour? Doesn''t that kinda defeat the purpose?

[ofbyfor1]

Remember folks, that these gamblers on Wall Street have no place to put their money except in oil and commodities.

Also today was a good "profit taking" day for these hedge fund clowns.

Posted by whitemale08 at 01:32 AM : Jul 19, 2008

Scary, but true. And isn''t it pathetic that these hedge-fund clowns make millions, but their income tax rate is lower than the average Joe, because it isn''t classified as regular income.

[shanev137]

Oil is still up 700% since 2002. This $20 buck drop in prices is not even a blip on the radar screen.

[whitemale08]

It never was an "oil bubble".

Our economy is full meltdown.

The ''PLANNERS'' are engineering a controlled demolition of the global financial system.

They are about to erect fascist hedge fund cartel Financial Empire where we are in debt from the day we are born to the day we die by carbon footprints.

Instead of inheritng money from your parents you will inherit debt through carbon footprints.

this temporary drop in oil prices is so that Nigeria (who Exxon said today that they''re cutting production) can justify reducing supply so prices can go back up.

Remember folks, that these gamblers on Wall Street have no place to put their money except in oil and commodities.

Also today was a good "profit taking" day for these hedge fund clowns.

[jimfinster]

Might be a short term break. However, oil will remain high in the long term.

[samthetvcat]

PPS I also said it wasn''t ''speculation'' but rather hedging when countries were stocking up on oil to get rid of their US$ - like a stop-loss. Like even if demand stays constant and the dollar starts tanking, oil prices ought to still go up - it has nothing to do with market regulation.

[samthetvcat]

PPS I also said it wasn''t ''speculation'' but rather hedging when countries were stocking up on oil to get rid of their US$ - like a stop-loss. Like even if demand stays constant and the dollar starts tanking, oil prices ought to still go up - it has nothing to do with market regulation.

[samthetvcat]

---"Just a few weeks ago, there were so many "speculation deniers" who claimed there IS NO BUBBLE. Asking if the bubble burst at least acknowledges that there IS a bubble."---
Posted by txgrouch2006

I did say they weren''t speculators in the sense that they were hoarders who had a demand parasitic to actual demand and that they couldn''t be reigned in via market regulation. I still stand by that assessment - like if it was Barack''s belief that the speculation was being caused by the ''off-shore dark markets'' and the ''Enron loophole'' which hasn''t been closed, then why wouldn''t the market still be going up?

[randynason]

Finding out what is really important, people are changing their habits and doing without excess. The "powers that be" are coming to the slow realization that they need us a lot more than we need them.

[beehive21-2009]

keep riding the bikes,walking,it''s going down and the world is watching ,how is it ChevronTexaco,took over the White House ?

[incog-nito]

Yippee! After this drop in oil prices, gas MIGHT go down all the way to $4! Think of all the savings you''ll get.

[whiskyrocker]

Minus any major hurricanes and after the Olympics are over crude oil will drop drastically.

[edward1975-2009]

With so many eyes now on the oil speculation business, maybe it will continue to drop. Still alternatives have to be sought, why hasn''t ethanol been mentioned, this made from anything green, and with sugar cane dropping, this is the eprfect green for making ethanol, this isn''t the savior of fuel problems, but it could add more relief.

[rudy654-2009]

IDIOT!


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Posted by Stick1770 at 10:53 PM

Expert? LOL! See, if you have to come up with that kind of answer, it usually means you don''t know the excrement comin out your azz.

[txgrouch2006]

It''s a little early to say the bubble has "burst." A burst bubble is indicated by a PRECIPITOUS and CONTINUED drop. I wouldn''t call it burst until the price drops by at least one-third. If it''s below $100/bbl next week, I''d say burst.

Based only on the past three days, all you can say is that there''s been a respite in the rampant run-up of the price. But it''s too soon to say it''s burst.

But it''s nice to see the question being taken seriously. Just a few weeks ago, there were so many "speculation deniers" who claimed there IS NO BUBBLE. Asking if the bubble burst at least acknowledges that there IS a bubble.

[stick1770]

rudy654 your a moron. simple as that. you have absolutely no idea of how anything works. Go put your head back in the sand. IDIOT!

[samthetvcat]

pt 1
Aren''t oil prices a reflection of actual demand with the speculators just exaggerating the highs and lows because they follow actual demand? There was a 3 million barrel surplus last month which means that yeah people (and like the airline industry) ARE drastically cutting back. And yet yeah prices AREN''T yet decreasing to reflect the shift. And as well inflation has creeped into other areas of spending. And Bush finally diffused the situation with Iran. And the dollar has made gains against the Euro now that Bernanke''s stopped the rate-cutting.

I kind of feel like it may be a negative bubble because it''s like the perfect calm (as opposed to the perfect storm) of all the things that could have possibly gone right that seemed like it would never happen - cutting demand and Bush resorting to diplomacy. But oil is such a valued commodity, and there''s so much that makes the chain of supply vulnerable to shocks.