Article

2009-06-10 Economy

Crude passes $70, US revises predictions

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Posted by Steve White 2009-06-10 00:00|| || Front Page|| [11129 views ] Top

#1 You could let us drill Obama. That would make a surplus of stocks so even if the dollar was falling crude would too...

Just saying...

Posted by 3dc 2009-06-10 00:54|| 2009-06-10 00:54|| Front Page Top

#2 It might even allow Bambi to 'create or save' a few jobs ...

Posted by Steve White 2009-06-10 01:01|| 2009-06-10 01:01|| Front Page Top

#3 But drilling means condeming fellow believers to poverty.

Posted by g(r)omgoru 2009-06-10 06:44|| 2009-06-10 06:44|| Front Page Top

#4 Also note natural gas at $3.73/1000 cu ft, my home was just billed at $9.90/1000 cu ft. It's not just the dollar, there must be some other inefficiencies in that market.

Posted by Anguper Hupomosing9418 2009-06-10 11:39|| 2009-06-10 11:39|| Front Page Top

#5 Crude to be the worlds new currency?

Posted by Bright Pebbles 2009-06-10 11:47|| 2009-06-10 11:47|| Front Page Top

#6 Pure speculation mind you, but I speculate it's the Wall Street traders and speculators who are driving it up.

Posted by Besoeker 2009-06-10 12:18|| 2009-06-10 12:18|| Front Page Top

#7 Also note natural gas at $3.73/1000 cu ft, my home was just billed at $9.90/1000 cu ft.

It's called "PROFIT", and I think 300% is way too much.

Posted by Redneck Jim 2009-06-10 12:19|| 2009-06-10 12:19|| Front Page Top

#8 Pure speculation mind you, but I speculate it's the Wall Street traders and speculators who are driving it up.

Normally I would too. However this isn't as much based upon 'margin' speculation as trying to put your capital in something that will retain value. The money isn't moving to the stock market because the government is messing with standing of holders and there's no end date. The money isn't moving into bonds, particularly government bonds, because who wants to lock in money [and hostage to inflation] on paper backed by 'promises' any rational person can't keep. That means parking your money into commodities and one thing every major country needs eventually is oil for the next decade or so.

Posted by Procopius2k 2009-06-10 14:49|| 2009-06-10 14:49|| Front Page Top

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