Oil back up to 111 dollars a barrel today

  1. #1
    newarkcatholicfan's Avatar
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    Oil back up to 111 dollars a barrel today

    The International Energy Agency, OPEC and others have said that they see signs that consumers are using less fuel as prices rise. In the U.S., retail surveys by MasterCard SpendingPulse indicate that motorists have cut back on gasoline purchases for the past seven weeks.

    http://finance.yahoo.com/news/Oil-ri...27191.html?x=0
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    As the economy improves the price will continue to rise.

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    newarkcatholicfan's Avatar
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    The economy is not improving.
    The media keeps trying to tell us it is.

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    Getslow's Avatar
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    I take the bus three days per week. It has as much to do with the price of parking in downtown Louisville as gas prices, but it's definitely cut back on my consumption.

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    Quote Originally Posted by newarkcatholicfan View Post
    The economy is not improving.
    The media keeps trying to tell us it is.
    It is improving. It's not where we want it but it is showing the signs necessary to get the prices going up. The price of oil will continue to rise until we get to a point where it causes another recession.

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    jvdfc's Avatar
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    Quote Originally Posted by Clyde View Post
    It is improving. It's not where we want it but it is showing the signs necessary to get the prices going up. The price of oil will continue to rise until we get to a point where it causes another recession.
    Just because you think it is doesn't mean most think it is not. I'm nowhere near convinced.

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    Quote Originally Posted by jvdfc View Post
    Just because you think it is doesn't mean most think it is not. I'm nowhere near convinced.
    Just because you think it isn't doesn't mean it's not. In this case we look at economic indicators and they are rising, albeit slowly, but they are rising.

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    Quote Originally Posted by jvdfc View Post
    Just because you think it is doesn't mean most think it is not. I'm nowhere near convinced.
    We all have different definitions of "improving." I'm using the most strict definition while many(maybe you) are using a definition that requires it to be at a certain level.

    My point is simple. As the economy begins to improve there will be more demand which will lead to continued increases in cost.

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    So a couple of questions:

    1. If people aren't using as much, the price increases for remaining buyers to cover the amount of oil on the market, yes?

    2. If people are using just as much, the price increases because of the high demand?

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    Quote Originally Posted by gchs_uk9 View Post
    So a couple of questions:

    1. If people aren't using as much, the price increases for remaining buyers to cover the amount of oil on the market, yes?

    2. If people are using just as much, the price increases because of the high demand?
    I'm far from an economics expert but I don't believe #1 to be true. If the demand is not there the production will decrease.

    #2 is the problem for us. The supply of cheap crude is diminishing. As demand goes up (see China) the price is going to skyrocket.

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    PurplePride92's Avatar
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    My place of employment has brought back all 80 employees that were laid off and hired 14 new employees with more possible hirings to come later this year. We are expanding as well.

    Another area factory announced a multimillion dollar expansion as well as hiring up to 80 new employees.

    If that isn't signs of an improving economy I don't know what is.

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    HammerTime's Avatar
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    Health care is doing god but yet they are now outsourcing my department at one of the big insurance companies so... I don't even bother to worry about gas prices. It's not worth my time, you have to buy it one way or another.

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    I heard George Bush apparently ordered the gas prices to be raised immediately to hurt the economy and make Obama look bad.




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    Quote Originally Posted by PurplePride92 View Post
    My place of employment has brought back all 80 employees that were laid off and hired 14 new employees with more possible hirings to come later this year. We are expanding as well.

    Another area factory announced a multimillion dollar expansion as well as hiring up to 80 new employees.

    If that isn't signs of an improving economy I don't know what is.
    Could be an improving industry, product line etc, but I see your point.

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    Quote Originally Posted by sportsfan41 View Post
    Could be an improving industry, product line etc, but I see your point.
    We still have ways to go as a country to get it back to how it used to be. If that is even possible.

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