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Oil below $50.......What are your thoughts

Discussion in 'General Chat' started by gizmozz, Dec 3, 2008.

  1. daj

    daj Member

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    #21
    My thoughts are that lower gas prices doesn't solve the issue.
    The issue is our dependency on oil, when theres green-friendly options out there,
    that don't harm the earth & environment. Some people have cars running on water, corn, electricity, and other things. Why should oil be the only option, to cater to these rich oil companies? Things need to change.
    SEMrush
     
    daj, Dec 4, 2008 IP
    SEMrush
  2. justinlorder

    justinlorder Peon

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    #22
    I guess the price is manipulated by finance group/oil group/military group/dictator group rather than the market .
    I am not sure if it will raise or fall dramaticly, it depend on their benefits . :D
     
    justinlorder, Dec 4, 2008 IP
  3. DonPedro

    DonPedro Guest

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    #23
    true. A month ago, in my country 1 L cost arround 1,2$
    now, it goes arround 0,70$ wich is good
    hope it stays that way also
     
    DonPedro, Dec 4, 2008 IP
  4. allroads

    allroads Banned

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    #24
    Me too I have a 4wd and can't afford to be paying OPEC member for all their mercedes. :)
     
    allroads, Dec 4, 2008 IP
  5. tiger325

    tiger325 Peon

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    #25
    I agree it was way too high this past summer
     
    tiger325, Dec 4, 2008 IP
  6. allroads

    allroads Banned

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    #26
    allroads, Dec 6, 2008 IP
  7. allroads

    allroads Banned

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    #27
    Currently in Brisbane Australia the price is around $1 per litre. Amazing.

    $1.019: Caltex/Woolworths Enoggera - 6 Dec at 2:07PM
    6 Browns Dip Rd & Wardell St
    Enoggera 4051
    Distance: 5.25km

    $1.019: Mobil - 6 Dec at 1:45PM
    Waterworks Rd & Roy St
    Ashgrove 4060
    Distance: 3.85km

    $1.019: Mobil - 6 Dec at 1:38PM
    Enoggera Rd & Edmondstone St
    Newmarket 4051
    Distance: 3.37km

    $1.029: Shell - 6 Dec at 1:38PM
    305 Kelvin Grove Rd & Herston Rd
    Kelvin Grove 4059
    Distance: 2.7km

    $1.039: BP Noonan's Garage - 6 Dec at 1:44PM
    161 Waterworks Rd
    Ashgrove 4060
    Distance: 3.32km
     
    allroads, Dec 6, 2008 IP
  8. dc0ded

    dc0ded Well-Known Member

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    #28
    Its Rs5 per litre decrease in petrol prices in Delhi.
    I am happy that it would save 10% of my monthly transport cost. :)
     
    dc0ded, Dec 6, 2008 IP
  9. getjimmy

    getjimmy Prominent Member

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    #29
    I just read in paper that out government has slashed petrol price by Rs 5 and diesel by Rs 2 a litre.
     
    getjimmy, Dec 6, 2008 IP
  10. allroads

    allroads Banned

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    #30
    Excellent new for all. It will greatly help with the recession if OPEC does not cut back production again.
     
    allroads, Dec 6, 2008 IP
  11. erolelcott

    erolelcott Peon

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    #31
    i think i`m gonna buy myself a tanker full of oil!!
     
    erolelcott, Dec 6, 2008 IP
  12. allroads

    allroads Banned

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    #32
    Hey fill the swimming pool at least. :)
     
    allroads, Dec 6, 2008 IP
  13. erolelcott

    erolelcott Peon

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    #33
    i`ve done that already...;)
     
    erolelcott, Dec 6, 2008 IP
  14. RightMan

    RightMan Notable Member

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    #34
    The oil is now racing backwards.....already at $ 41...:rolleyes:

    The off-shore drilling cos. will now begin to feel the pinch as their production cost would be around $ 45.

    On shore companies are still making profit of around 10 dollars.

    Regards,

    RightMan
     
    RightMan, Dec 6, 2008 IP
  15. Clear Presence Media

    Clear Presence Media Well-Known Member

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    #35
    A lot of people dont understand that it was a bubble. There was no reason for oil to be above $100, it was a speculative bubble. It wont be back up there anytime soon.
     
    Clear Presence Media, Dec 6, 2008 IP
  16. Giamatti

    Giamatti Well-Known Member

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    #36
    due to the financial crisis there is less need for oil..
    the oil price will probably raise when the economy gets stronger (when companies start working with full shifts again)
     
    Giamatti, Dec 6, 2008 IP
  17. Kyliemeg

    Kyliemeg Active Member

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    #37
    I think the oil companys are gonna be hurting. From my understanding, they did their budgets for the year on $80.00 per barrel.

    But I'm happy!
     
    Kyliemeg, Dec 6, 2008 IP
  18. sonix7

    sonix7 Guest

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    #38
    The thing is, they were making profits before the price shot up 3 times, and their costs to produce the stuff haven't increased, so presume they will still be making lots of profits at $40 a barrel
     
    sonix7, Dec 6, 2008 IP
  19. justinlorder

    justinlorder Peon

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    #39
    Earlier in the 2004, the price was between $22 to $28 .
    Now in 2008, several months ago, the oil price was $148 at high .
    Today, the price is below $44 .
    What does the data say ?
    There are opportunitist in the oil future market who try to manipulate price and make (100%, to 1000%) profit .
     
    justinlorder, Dec 6, 2008 IP
  20. allroads

    allroads Banned

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    #40
    Hey this will also affect Mercedes though. Less oil barrons buying meredes. Time to dump your mercedes and humma stock. :)
     
    allroads, Dec 6, 2008 IP