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#1 07-23-2008 08:04 PM
- Seabird
- New lease
- From: The Crucible
- Registered: 07-28-2003
- Posts: 10037
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Oil down below the magic $125 today. Impact?
A lot of analysts and economists have been saying over the last month that if oil drops below $125, we might see a massive sell off of oil futures, driving the price down even further. Supposedly so many speculators continued to buy in at or above above that number, they'd start dumping their losses and taking profits on oil they bought at $110-120 in order to cover those losses. This will in turn continue to force prices down. Rinse, repeat. High inventories and a slightly stronger dollar seem to have sparked the sell off. Let's see if there is a rapid drop over the rest of the week and just how many so-called "paper barrels" leave the market.
Also, will this have some impact on the election? PURE speculation here:
Could <$99 oil be McCain's October Surprise?
Biden 2009!
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#2 07-23-2008 08:06 PM
- zukiphile
- "Aaaaaah; Bach!"
- Registered: 08-08-2003
- Posts: 11130
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Re: Oil down below the magic $125 today. Impact?
Seabird wrote:
Could <$99 oil be McCain's October Surprise?
You won't read it anywhere but a financial page. It will be a non-story.
"Atheism - the religion devoted to the worship of one's own smug sense of superiority." - Stephen Colbert
"This place is astounding." - Confused_by_everything.
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#3 07-23-2008 08:08 PM
- Raoul Duke
- There is no Ford Motor Company
- From: Rochester, NY
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Re: Oil down below the magic $125 today. Impact?
Seabird wrote:
Could <$99 oil be McCain's October Surprise?
Only if Obama doesn't find a way to take credit for it.
"The idea that you can merchandise candidates for high office like breakfast cereal - that you can gather votes like box tops - is... the ultimate indignity to the democratic process."
~Adlai Stevenson, speech, Democratic National Convention, 18 August 1956
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#4 07-23-2008 08:16 PM
- T
- Shift Loving Rope Deck
- From: The Lone Star State
- Registered: 08-04-2005
- Posts: 5783
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Re: Oil down below the magic $125 today. Impact?
Raoul Duke wrote:
Seabird wrote:
Could <$99 oil be McCain's October Surprise?
Only if Obama doesn't find a way to take credit for it.
That would never happen. Obama isn't like that.
Shit.....if it's gonna be that kinda party I'm gonna stick my dick in the mashed potatoes.
It's not the destination, it's the ride
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#5 07-23-2008 08:16 PM
- Seabird
- New lease
- From: The Crucible
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Re: Oil down below the magic $125 today. Impact?
I hope it happens for no other reason than to give the TCL tinfoilers apoplectic fits. 
Biden 2009!
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#6 07-23-2008 08:17 PM
- Raoul Duke
- There is no Ford Motor Company
- From: Rochester, NY
- Registered: 08-18-2003
- Posts: 3525
- Karma: 492
Re: Oil down below the magic $125 today. Impact?
T wrote:
Raoul Duke wrote:
Seabird wrote:
Could <$99 oil be McCain's October Surprise?
Only if Obama doesn't find a way to take credit for it.
That would never happen. Obama isn't like that.
That's not the Obama that I knew.
"The idea that you can merchandise candidates for high office like breakfast cereal - that you can gather votes like box tops - is... the ultimate indignity to the democratic process."
~Adlai Stevenson, speech, Democratic National Convention, 18 August 1956
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#7 07-23-2008 08:17 PM
- zukiphile
- "Aaaaaah; Bach!"
- Registered: 08-08-2003
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Re: Oil down below the magic $125 today. Impact?
Seabird wrote:
I hope it happens for no other reason than to give the TCL tinfoilers apoplectic fits.
OMFG! Now we'll nevar get the Lupo!!!
"Atheism - the religion devoted to the worship of one's own smug sense of superiority." - Stephen Colbert
"This place is astounding." - Confused_by_everything.
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#8 07-23-2008 08:18 PM
- T
- Shift Loving Rope Deck
- From: The Lone Star State
- Registered: 08-04-2005
- Posts: 5783
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Re: Oil down below the magic $125 today. Impact?
Raoul Duke wrote:
T wrote:
Raoul Duke wrote:
Only if Obama doesn't find a way to take credit for it.That would never happen. Obama isn't like that.
That's not the Obama that I knew.
[/] sarcasm
Shit.....if it's gonna be that kinda party I'm gonna stick my dick in the mashed potatoes.
It's not the destination, it's the ride
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#9 07-23-2008 08:19 PM
- Raoul Duke
- There is no Ford Motor Company
- From: Rochester, NY
- Registered: 08-18-2003
- Posts: 3525
- Karma: 492
Re: Oil down below the magic $125 today. Impact?
Seabird wrote:
I hope it happens for no other reason than to give the TCL tinfoilers apoplectic fits.
Doesn't being awake pretty much take care of that?
"The idea that you can merchandise candidates for high office like breakfast cereal - that you can gather votes like box tops - is... the ultimate indignity to the democratic process."
~Adlai Stevenson, speech, Democratic National Convention, 18 August 1956
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#10 07-23-2008 08:25 PM
- Seabird
- New lease
- From: The Crucible
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Re: Oil down below the magic $125 today. Impact?
I went to college with Obama. He was pretty cool at first except for when he'd break out with the Malcolm X records. Even that would have been, you know, cool or whatever, but he'd also smoke all our shit and not bring any of his own. One time we all were trying to go in on a lid of premo sensimilla and I was all like, hey B, you wanna throw in for some of this?, and he was all like naw, I don't do that shit anymore. He said he was trying to live all straight and shit. So anyway, finally Ronnie shows up with the bud and we're all lightin up and Obama laughs all suave and cool and shit and says okay, you talked me into it. Just a couple of hits with my white bros for old time sake.
I mean, WTF man?! Anyway, he's a punk or whatever, but I'll still vote for him because I don't want another 5 years of Bush.
Biden 2009!
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#11 07-23-2008 08:27 PM
- T
- Shift Loving Rope Deck
- From: The Lone Star State
- Registered: 08-04-2005
- Posts: 5783
- Karma: 185
Re: Oil down below the magic $125 today. Impact?
LOL.......
Shit.....if it's gonna be that kinda party I'm gonna stick my dick in the mashed potatoes.
It's not the destination, it's the ride
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#12 07-23-2008 08:35 PM
- zukiphile
- "Aaaaaah; Bach!"
- Registered: 08-08-2003
- Posts: 11130
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Re: Oil down below the magic $125 today. Impact?
Seabird wrote:
...I don't want another 5 years of Bush.
Praise.
"Atheism - the religion devoted to the worship of one's own smug sense of superiority." - Stephen Colbert
"This place is astounding." - Confused_by_everything.
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#13 07-24-2008 02:06 AM
- SoulWrangler
- Admin
- From: The world of tomorrow!
- Registered: 03-06-2008
- Posts: 478
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Re: Oil down below the magic $125 today. Impact?
It should be obvious that the speculators are just selling off to cover themselves from lawsuits that certain senators of a somewhat more communistic style of thinking might be bringing onto them for playing unfairly.
“LOOK round you,” said the citizen. “This is the largest market in the world.”
“Oh, surely not,” said the traveller. “Well, perhaps not the largest,” said the citizen, “but much the best.”
“You are certainly wrong there,” said the traveller. “I can tell you . . .”
They buried the stranger at the dusk.
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#14 07-24-2008 02:18 AM
- Thundersnow
- sean
- Registered: 08-14-2004
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Re: Oil down below the magic $125 today. Impact?
SoulWrangler wrote:
It should be obvious that the speculators are just selling off to cover themselves from lawsuits that certain senators of a somewhat more communistic style of thinking might be bringing onto them for playing unfairly.
I disagree. The reasons C stated are completely valid. Given this prediction you may also see a lot of short selling which will further deflate the market. That said, you can't time the market.
ILLEGITIMI NON CARBORUNDUM
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#15 07-24-2008 02:28 AM
- EscapeVelocity
- Burr Ran A Lot
- Registered: 05-07-2005
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Re: Oil down below the magic $125 today. Impact?
Now we can institute that Gore Tax.
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#16 07-24-2008 04:06 AM
- Biker Dude
- A TRUE Liberal
- From: Denver, CO
- Registered: 05-12-2006
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Re: Oil down below the magic $125 today. Impact?
Seabird wrote:
Also, will this have some impact on the election? PURE speculation here:
Could <$99 oil be McCain's October Surprise?
Maybe I missed something. How is this his doing?
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#17 07-24-2008 04:15 AM
- dgm
- Status Quo Incumbent
- From: Dirty Jersey
- Registered: 08-20-2003
- Posts: 10565
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Re: Oil down below the magic $125 today. Impact?
Biker Dude wrote:
Maybe I missed something. How is this his doing?
In the exact same way that the high prices are BushChimpCoHaliburtonMcCheney's fault.
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#18 07-24-2008 12:26 PM
- Biker Dude
- A TRUE Liberal
- From: Denver, CO
- Registered: 05-12-2006
- Posts: 422
- Karma: 24
Re: Oil down below the magic $125 today. Impact?
Ah. So market forces do not exist, everything is controlled by the elites, is that it? Thanks.
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#19 07-24-2008 12:31 PM
- axe
- not quebecois
- From: Moncton, Canada
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Re: Oil down below the magic $125 today. Impact?
Biker Dude wrote:
Ah. So market forces do not exist, everything is controlled by the elites, is that it? Thanks.
The sarcasm is weak with this one.
By-tor... Knight of darkness!
Centurion of evil,
the Devil's Prince!
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#20 07-24-2008 01:04 PM
- axe
- not quebecois
- From: Moncton, Canada
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- Posts: 5916
- Karma: 309
Re: Oil down below the magic $125 today. Impact?
axe wrote:
Biker Dude wrote:
Ah. So market forces do not exist, everything is controlled by the elites, is that it? Thanks.
The sarcasm is weak with this one.
And he smites me for it 
Fall out of bed this morning?
By-tor... Knight of darkness!
Centurion of evil,
the Devil's Prince!
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#21 07-24-2008 01:09 PM
- Iron Sun 254
- Cotton-Headed Ninny Muggins
- From: North Pole
- Registered: 10-07-2003
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- Website
Re: Oil down below the magic $125 today. Impact?
Biker Dude wrote:
Ah. So market forces do not exist, everything is controlled by the elites, is that it? Thanks.
Indeed. Bush is simultaneously the stupidest man who sat in the Oval office and the brilliant man who secretly controls every aspect of the economy.
This place reminds me of Santa's workshop. Except it smells like mushrooms and everyone looks like they want to hurt me.
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#22 07-24-2008 01:14 PM
- Raoul Duke
- There is no Ford Motor Company
- From: Rochester, NY
- Registered: 08-18-2003
- Posts: 3525
- Karma: 492
Re: Oil down below the magic $125 today. Impact?
Iron Sun 254 wrote:
Biker Dude wrote:
Ah. So market forces do not exist, everything is controlled by the elites, is that it? Thanks.
Indeed. Bush is simultaneously the stupidest man who sat in the Oval office and the brilliant man who secretly controls every aspect of the economy.
dgm wrote:
In the exact same way that the high prices are BushChimpCoHaliburtonMcCheney's fault.
The timing is awfully convenient.
"The idea that you can merchandise candidates for high office like breakfast cereal - that you can gather votes like box tops - is... the ultimate indignity to the democratic process."
~Adlai Stevenson, speech, Democratic National Convention, 18 August 1956
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#23 07-24-2008 02:10 PM
- Seabird
- New lease
- From: The Crucible
- Registered: 07-28-2003
- Posts: 10037
- Karma: 573
Re: Oil down below the magic $125 today. Impact?
Biker Dude - You have to know The Car Lounge to understand the context of the joke. Also, please see the number of Democrats who claim that the run up in oil prices is Bush's fault since the increases came during his time in office, he's a supposed "oil man", and Cheney was the CEO of Halliburton, etc... Expect to hear lots of, "Isn't it conveeeeeeenient that oil prices are coming down during the general election?".
Biden 2009!
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#24 07-24-2008 02:14 PM
- 2.FOH.
- Misogynist sock puppet
- From: the Iraq such as Africa
- Registered: 07-25-2003
- Posts: 10622
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Re: Oil down below the magic $125 today. Impact?
Biker Dude wrote:
Ah. So market forces do not exist, everything is controlled by the elites, is that it?
So says Nancy Pelosi.
"Dude, I'm Asian and Jewish. The only
horse I'm hung like is My Little Pony." ~ 4nonymous
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#25 07-24-2008 02:16 PM
- AC
- Anderson Cooper
- From: Ground Zero
- Registered: 01-01-2004
- Posts: 2234
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Re: Oil down below the magic $125 today. Impact?
Bush steered Hurricane Dolly away from the oil rigs in the Gulf.
He let it hit part of Texas so as not to raise suspicion.
Impressive stuff.
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