Oil price over $147 for the first time-now above $80

Derek Ortt · #541 Postby **Derek Ortt** » Fri Jun 06, 2008 12:44 pm

we need AT LEAST a 50 basis point increase now, possibly 100.

Stabalizing the dollar is first and foremost. it will cause short term pain, but bring about long term benefit

#542 Postby **cycloneye** » Fri Jun 06, 2008 12:50 pm

$137 now.Over $9.00 only today from yesterdays close.

http://www.cnbc.com/id/24993747

#543 Postby **cycloneye** » Fri Jun 06, 2008 1:28 pm

Now up over $138.Over $10.00 only today.

http://www.cnbc.com/

StormspinnerD2 · #544 Postby **StormspinnerD2** » Fri Jun 06, 2008 1:28 pm

Just crossed $139 now. CNN says a spike such as this has never happened before. Brunota2003: forget July, if this continues oil will reach $150 by next week. The price of oil increased by over $12 today.

#545 Postby **cycloneye** » Fri Jun 06, 2008 1:39 pm

Oil closed at a record high ever (over $139) and a intraday over $11.Oil is up 44%
in 2008.
http://www.cnbc.com/id/24993747

Derek Ortt · #546 Postby **Derek Ortt** » Fri Jun 06, 2008 1:52 pm

and also

START DRILLING OUR OWN OIL! We need to threaten to throw the supply out of whack as well.

As you can tell, I don't care one bit if the speculators get screwed over. I just want to protect the economy at this point

Cryomaniac · #547 Postby **Cryomaniac** » Fri Jun 06, 2008 2:32 pm

Derek, there won't be an interest rate increase any time soon. It would screw the stock market massively.

Derek Ortt · #548 Postby **Derek Ortt** » Fri Jun 06, 2008 2:35 pm

Cryomaniac wrote:Derek, there won't be an interest rate increase any time soon. It would screw the stock market massively.

whoppdeydo! The dollar being screwed is far worse for the economy than the market being screwed (it also would massively screw the market).

As I said, short term pain for long-term benefit

Cryomaniac · #549 Postby **Cryomaniac** » Fri Jun 06, 2008 2:41 pm

Derek Ortt wrote:
Cryomaniac wrote:Derek, there won't be an interest rate increase any time soon. It would screw the stock market massively.

whoppdeydo! The dollar being screwed is far worse for the economy than the market being screwed (it also would massively screw the market).

As I said, short term pain for long-term benefit

I'm not saying that it is better, but I think the fed would rather save the markets for some reason.

Nimbus · #550 Postby **Nimbus** » Fri Jun 06, 2008 2:56 pm

Wholesale gasoline went up over 30 cents a gallon in just two days. Some of the local Tampa bay stations have been trying to hold the line below $4 but once major chains jump prices thats it. Time to top up!

#551 Postby **feederband** » Fri Jun 06, 2008 3:00 pm

Nimbus wrote:Wholesale gasoline went up over 30 cents a gallon in just two days. Some of the local Tampa bay stations have been trying to hold the line below $4 but once major chains jump prices thats it. Time to top up!

$4.00 is over ...Now its when will it hit $5.00

#552 Postby **feederband** » Fri Jun 06, 2008 3:05 pm

Cryomaniac wrote:Derek, there won't be an interest rate increase any time soon. It would screw the stock market massively.

It tanked 400 points today...

Cryomaniac · #553 Postby **Cryomaniac** » Fri Jun 06, 2008 3:15 pm

feederband wrote:
Cryomaniac wrote:Derek, there won't be an interest rate increase any time soon. It would screw the stock market massively.

It tanked 400 points today...

Imagine what it would do if there was a 100 basis point rise in interest rates...

#554 Postby **feederband** » Fri Jun 06, 2008 3:20 pm

Cryomaniac wrote:
feederband wrote:
Cryomaniac wrote:Derek, there won't be an interest rate increase any time soon. It would screw the stock market massively.

It tanked 400 points today...

Imagine what it would do if there was a 100 basis point rise in interest rates...

Well since I cant afford stocks...I could care less...But maybe gas would go down...I do buy that...

gtalum · #555 Postby **gtalum** » Fri Jun 06, 2008 3:35 pm

Nah, the bubble will pop, it's just difficult to predict exactly when. This is no different than the tech stock bubble or the housing bubble. Even the words used by the speculators are the same.

#556 Postby **brunota2003** » Fri Jun 06, 2008 3:44 pm

I predict that by the 4th of July, either the government will of stepped in, or there will be a major shortage in food because you know diesel is about to go through the roof, and those truckers are already scraping the bottom of the barrel.

#557 Postby **feederband** » Fri Jun 06, 2008 4:43 pm

gtalum wrote:Nah, the bubble will pop, it's just difficult to predict exactly when. This is no different than the tech stock bubble or the housing bubble. Even the words used by the speculators are the same.

Yeah But this bubble hurts everyone...Bad bubble ...Bad bad bubble!

#558 Postby **cycloneye** » Fri Jun 06, 2008 5:24 pm

This morning,I passed the gas station near my house and it was at 99 cents a liter,but this afternoon it jumped 2 cents to 101.What happened today aparently jumped the gas prices here.

#559 Postby **HURAKAN** » Fri Jun 06, 2008 5:47 pm

3.7854 x 1.01 = 3.82 dollars per gallon

Still cheaper than in the states. Near my house the cheapest is $3.97.

southerngale · #560 Postby **southerngale** » Fri Jun 06, 2008 6:03 pm

HURAKAN wrote:3.7854 x 1.01 = 3.82 dollars per gallon

Still cheaper than in the states. Near my house the cheapest is $3.97.

Not cheaper than in all states/areas. While there are some stations in the $3.80's, I saw a $3.75 in Beaumont today.

For anyone nearby reading this, go to Texaco - Eastex Frwy @ Lucas.

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