OMG! Oil is under $90/bbl The crash is comming! Doom! Gloom!

[RB TexLa]

Every time something drops 2 to 4 % there are doom and gloom posts, just thought I'd put one up for the oil crash. :rofl:

[Horse with no Name]

1. Actually being the good little sheeplette that I am

I gladly pumped some of that $2.85/gallon in my car today--relieved it wasn't $3.14 like it was last week.

[IDemo]

10. $2.85, hah. I remember when gas was $2.35

[Sherman A1]

14. I remember

When it was 19 cents a gallon. That was about 1971.

[IDemo]

17. Actually, I do remember 25 cents as well. Just trying to make a point..

[Sherman A1]

22. We are showing our age

:toast:

[wake.up.america]

2. The good news- oil under 100. The bad news - it's based on fears of US economic downturn

[BuyingThyme]

6. I don't understand that logic.

Wouldn't the perception of a devalued dollar send the dollar price up?

[RB TexLa]

8. US economy contracting, less oil being used here, less demand, lower price

[BuyingThyme]

11. Except there isn't less oil being used here.

[RB TexLa]

13. Right, this is based on speculation.

[Lone_Star_Dem]

3. Don't be silly

This is the drop from bush's bribing begging the Saudis to drop prices.

Or so I actually heard a person say at lunch.

[RB TexLa]

4. Oh, I'm not worried, it's a small slump, it'll rally back

[Lone_Star_Dem]

16. Yep. Just like the dollar will fall on our next rate cut

So will oil rise.

[Pale Blue Dot]

5. Keep laughing.

There are fewer and fewer people who are laughing right now. You ignore the evidence of a major economic downtown at your own peril.

[Richard Steele]

7. Dumbest post of the week.

nm

[RB TexLa]

9. It's supposed to be

[Richard Steele]

15. So, you admit it's just flamebait, then?

[SammyWinstonJack]

19. Nothing new here.

:shrug:

[RB TexLa]

20. No, just silly

[Turbineguy]

12. If you think $90 per barrel

is a crash, wait until Bush leaves the WH. I figure that's gotta be good for a $30 to $40 drop.

[Warpy]

18. It depends on how much farther he's trashed the dollar

by the time we get him out of office. Right now, I don't expect anything below $60/bbl. A year from now, we might be looking at that $100/bbl oil as the bargain of the century.

[Turbineguy]

21. I think $60 per barrel is the correct price

right now based on economics of supply and demand. The rest is a Bush Tax. I also think that $1.15-$1.25 is the correct price for a Euro. The rest is a Bush Tax. Which means that both will very much be influenced by what Bush does until he leaves. If his past performance is anything to go by....