Comments on: Oil Hits 8-Month Low Under $90 A Barrel

Speculators Fear Growing Financial Crisis Will Slow Economies, Sap Demand

[antoniof123]

So if gas has come down why is it over 3.50 a barrel. Sure went up fast but come down real slow and it will not come down to were it was before it went up.

They call that downward sticky.

[noloyalisti]

I guess the fascists who run our right wing government got what they wanted. So the GOP cabal is letting the price fall.

[easeup-2009]

I''''m with you, newster1. We''''re still paying $3.89 in my state of NC!

Posted by heathme2003 at 10:50 AM : Oct 06, 2008

I was shocked to see $3.17 here in Ohio.

[heathme2003]

I''m with you, newster1. We''re still paying $3.89 in my state of NC!

[easeup-2009]

A competetive marketplace bring''''s prices down, the 5 companies pumping American Oil are a monopoly within our borders and should be broke up as AT&T was. They''''ve killed their collective competition and are now able to no longer tie profit to the cost of raw materials.

Posted by Ronsonit at 09:46 AM : Oct 06, 2008

Excellent point. The fewer players there are, the easier it is to control pricing--in any market.

[nothappyatall]

With oil down to $90 how come we are still paying $3.50 a gal for gas!!!!!!!!!

[ronsonit]

The Southeast still has gas in the $4 range w/crude prices low and it''s fresh fuel since the refineries were turned back on. Drill? They already ration the stuff they hold leases on and choke off Refinery Capacity to artificially increase the price at the pump. I say revoke the lifetime leases that they aren''t pumping at capacity and reauction them in ten year block''s to encourage the companies to pump what they got. The incentive here now, is to sell the least amount of product for the highest price per unit. A competetive marketplace bring''s prices down, the 5 companies pumping American Oil are a monopoly within our borders and should be broke up as AT&T was. They''ve killed their collective competition and are now able to no longer tie profit to the cost of raw materials.

[lucy-in-tx]

Gee.. doesn''t anyone else think that the Wall Street oil speculators had lots to do with this? After all, they pretty much drove the price of crude up.
Hmm.. good question, eh.

[jcb63]

Oil prices are lower now. It''s time to drop the price of gas below $2.00 a gallon. End of discussion.

[shovethis1]

So if oil is so cheap, where is my $2.00 per gallon gas? Last time oil was this cheap it was when the DEMOCRATS were in the White House with a Balanced Budget! I guess maybe the Bush''s New Great Depression has some positives!

[easeup-2009]

A bind man could see oil prices would drop before the election.

Posted by keypinitreel at 09:12 AM : Oct 06, 2008

Substitute "stupid" for blind......BTW if this hysterical conspiracy were true, why did oil prices shoot up right before the 2004 election?

[Keypinitreel1]

A bind man could see oil prices would drop before the election.

[easeup-2009]

Well there''''s a shocker...oil prices dropping just before an election...The only problem is the OPECkers may have waited just a little too long and gouged just a little too much to change their candidates outcome this time....

Posted by onemoretim at 07:12 AM : Oct 06, 2008

That evil Bush & oil price dial!!!LOL!! I love it how some people think Bush controls everything.

[pensacola98]

Oil typically does drop this time of the year all over the commodity markets. The oil consumption on the northern hemisphere is far greater than the southern hemisphere, and sesonal changes do affect consumption rates.

Gasoline is generally $1 per gallon for every $33 of oil pricing on the commodity market.

Breathing oil markets are good for oil companies to take advantage of the "downtime" for maintenance and capital projects that upgrade infrastructure and require them to go offline.

One of the most difficult controls on oil regulation up to the 1980''s was forseeing market shifts as new industrialized nations entered the picture and affected consumption of suppies at unpredictable rates. Trade and tarrifs also affected purchasing power of foreign consumers as governments of debtor nations devalued their currency to offset imports.

[hologram5]

And the drop in prices is a bad thing? I think that everything will drop in the long run. Let the bankers fall, I live day to day, hand to mouth, I don''t care and want them to fail...

Fatter then a pig is an understatement. Where I live gas is in ample supply yet the price swings are as much as 15 to 20 cents a gallon. I for one cannot wait till the day when we are not so dependent on oil. I believe in a free market but when it comes to something that you NEED and not just want, there has to be some price controls. I have no public transportation where I live so a car is a necessity to go to work. To all of the speculators, oil companies and greedy *** lining your pockets at the expense of my economic misery, I hope the oil market drops to rock bottom and stays there and then the mother of all battery technologies comes along and then puts all of you out of business. I am sick and tired of juggling my finances just to make sure I can keep my car running so I can get to work. Enough said............

[mk12343]

if thats the results of the banks failing i say let them all fail, i dont worry about a 401k when im too worried about what to eat today!!!!