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Fuel prices may moderate
On Mon, 09 May 2011 14:35:12 -0400, Harryk
sent the following message jps wrote: On Mon, 09 May 2011 10:27:37 -0700, wrote: On Sun, 08 May 2011 23:23:21 -0700, wrote: On Sat, 07 May 2011 20:51:03 -0400, Gene wrote: On Sat, 07 May 2011 20:12:01 -0400, John wrote: On Sat, 07 May 2011 19:52:35 -0400, wrote: On Thu, 05 May 2011 22:05:27 -0700, wrote: Oil took a 10% dive today as speculators started selling off positions out of fear the top price has been seen. These speculators should have to pay a huge tax on their profits since they're causing so many Americans to pay inflated prices at the pump and causing inflation in every sector of retail. NEW YORK -- Oil prices took a nosedive Thursday in a historic selloff, erasing weeks of gains and indicating that the months-long climb in energy prices may have hit a ceiling. Crude oil plunged 10 percent as startled investors unloaded their positions and a weeklong decline accelerated into an outright freefall. The price of U.S. crude went from triple digits to double digits, falling below $100 after opening at close to $110. Brent crude, a European benchmark, lost $12 at one point in a sell-off that exceeded the one following Lehman Brothers' collapse, Reuters reported. An oil correction is underway, experts said, as the price is moving toward what fundamental economic factors dictate it should be. For the American consumer, plagued by weeks of rising energy prices that have begun to weigh heavily on the economy, a bit of respite may be at hand. Surely, the fact that crude oil prices have nothing to do with pump prices.... any more, at least.... Nope, not a bit. Bush put a stop to that when he was pocketing all the oil money. It appears 'Bama is carrying on the tradition. Well..... politicians are politicians..... A very interesting theory that Bush was pocketing all the oil money and Obama is doing the same. Idiocy on parade, courtesy of Herring. The Bush family was in the oil business and many of his allies came from oil, I don't recall Obama or Obama's family in any similar situation. Duhh... Kenya has a lot of oil! LOL Exports include: Tea, coffee, horticultural products, petroleum products, cement, pyrethrum, soda ash, sisal, hides and skins, fluorspar Tea and coffee the two largest exports. Obama must certainly be taking graft from tea and coffee lobbyists. Second only to the NRA in lobbying power. I'll have to check it out! :) Close friend and doctoral classmate of my wife's is a Kenyan who went back home to start up and run HIV/AIDS awareness educational programs. We're hoping to get there for a visit and an extended photo safari, and we want to visit Egypt, too, if things quiet down there. Kenya is surrounded by crazy neighboring countries...Somalia, Ethiopia Sudan, Uganda...yikes! You should travel there by boat. |
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