# The "Oil Prices" thread. **URL:** \ **Category:** NYSpeed Off Topic\ **Created:** [March 10, 2008, 10:44am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739 "2008-03-10T10:44:58Z")\ **Posts on this page:** 20\ **Page:** 42
**Author:** ![Blue\_Eyed\_Devil](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/blue_eyed_devil/32/7292_2.png) [@Blue\_Eyed\_Devil](https://forums.speedlife.net/u/Blue_Eyed_Devil)\ **Post date:** [July 17, 2008, 11:14am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/821 "2008-07-17T11:14:21Z")
> [@JayS](#): > > Not likely. Drilling = long term. Yes, it’s part of the solution, but even if Congress would have joined Bush and said “lets start drilling today”, which they didn’t, new oil is 5 years out. The possibility of some new oil 5 years from now doesn’t change the market $11 in 2 days. > > The price dropped because our supplies are up (oil, gas and distilates), tension with Iran are down, and with the bleak economic outlook they expect US demand to drop. > > That last one has me on edge. All this doomsday stuff came from Freddie/Fannie and IndyMac. Freddie/Fannie had all that trouble because some jackass leaked a government report showing the government was making plans in case Freddie/Fannie went bust. Everyone panicked and read that as “Freddie/Fannie are going to go bust”, and all the lemmings jumped off the cliff. Now people are realizing that making these plans is what responsible governments do, even when they don’t think it’s likely to happen. Freddie and Fannie stock is coming back as the lemmings that survived the fall climb back up the cliff. > > IndyMac’s crash was one part getting sucked into the bank panic, and it would appear from the FBI investigation, one part internal fraud. > > So if the market really isn’t that bad, how long before the speculators jump back into oil when they speculate our demand isn’t going to drop that much? Ok, I was just parroting Mitch McConnell. I will tell him you said he was wrong.😛 JayS 2008!!! ---
**Author:** ![JayS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jays/32/15375_2.png) [@JayS](https://forums.speedlife.net/u/JayS)\ **Post date:** [July 17, 2008, 11:20am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/822 "2008-07-17T11:20:55Z")
Interesting read: [http://money.cnn.com/2008/07/17/news/international/mexico\_hedging/index.htm?postversion=2008071713](http://money.cnn.com/2008/07/17/news/international/mexico_hedging/index.htm?postversion=2008071713) ---
**Author:** ![boardjnky4](https://avatars.discourse-cdn.com/v4/letter/b/96bed5/32.png) [@boardjnky4](https://forums.speedlife.net/u/boardjnky4)\ **Post date:** [July 17, 2008, 11:37am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/823 "2008-07-17T11:37:37Z")
If it closes under $130, like it is now, I am going to lay down some serious rubber tonight. ---
**Author:** ![JayS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jays/32/15375_2.png) [@JayS](https://forums.speedlife.net/u/JayS)\ **Post date:** [July 17, 2008, 11:42am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/824 "2008-07-17T11:42:25Z")
> [@boardjnky4](#): > > If it closes under $130, like it is now, I am going to lay down some serious rubber tonight. And there in lies the problem. If gas prices drop, everyone uses more, and prices go back up. I’d like to see $3 regular unleaded come back. It’s still high enough that people bitch and want to cut back, they still worry that if it goes up more they won’t be able to afford it so they buy reasonable vehicles, but it doesn’t weigh so heavily on the economy. ---
**Author:** ![boardjnky4](https://avatars.discourse-cdn.com/v4/letter/b/96bed5/32.png) [@boardjnky4](https://forums.speedlife.net/u/boardjnky4)\ **Post date:** [July 17, 2008, 11:48am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/825 "2008-07-17T11:48:18Z")
> [@JayS](#): > > And there in lies the problem. If gas prices drop, everyone uses more, and prices go back up. > > I’d like to see $3 regular unleaded come back. It’s still high enough that people bitch and want to cut back, they still worry that if it goes up more they won’t be able to afford it so they buy reasonable vehicles, but it doesn’t weigh so heavily on the economy. shit, you are right. We need to rally the tree huggers to buy more priuses so that can offset the fuel consumed by my hairy burnouts. ---
**Author:** ![JayS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jays/32/15375_2.png) [@JayS](https://forums.speedlife.net/u/JayS)\ **Post date:** [July 17, 2008, 11:55am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/826 "2008-07-17T11:55:32Z")
> [@boardjnky4](#): > > shit, you are right. We need to rally the tree huggers to buy more priuses so that can offset the fuel consumed by my hairy burnouts. Now you’re thinking. 🙂 ---
**Author:** ![Geehee](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/geehee/32/7238_2.png) [@Geehee](https://forums.speedlife.net/u/Geehee)\ **Post date:** [July 17, 2008, 11:56am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/827 "2008-07-17T11:56:05Z")
> [@boardjnky4](#): > > shit, you are right. We need to rally the tree huggers to buy more priuses so that can offset the fuel consumed by my hairy burnouts. i lol’d ---
**Author:** ![Penfold](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/penfold/32/5007_2.png) [@Penfold](https://forums.speedlife.net/u/Penfold)\ **Post date:** [July 17, 2008, 12:15pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/828 "2008-07-17T12:15:16Z")
🙂 oil is going down and silver is staying steady. Win-Win for me. ---
**Author:** ![Fry](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/fry/32/7284_2.png) [@Fry](https://forums.speedlife.net/u/Fry)\ **Post date:** [July 17, 2008, 12:20pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/829 "2008-07-17T12:20:00Z")
Never thought I’d be happy to see oil in the $120’s. Oh well. It’ll probably end the week at $150. ---
**Author:** ![JEG](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jeg/32/7246_2.png) [@JEG](https://forums.speedlife.net/u/JEG)\ **Post date:** [July 17, 2008, 12:24pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/830 "2008-07-17T12:24:22Z")
> [@Fry](#): > > Never thought I’d be happy to see oil in the $120’s. Oh well. It’ll probably end the week at $150. yeah but what sucks is it could stay in the $120’s for a week and gas prices would still not really change. :tdown: ---
**Author:** ![j\_espo1](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/j_espo1/32/7291_2.png) [@j\_espo1](https://forums.speedlife.net/u/j_espo1)\ **Post date:** [July 17, 2008, 12:42pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/831 "2008-07-17T12:42:59Z")
129.29 ---
**Author:** ![JayS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jays/32/15375_2.png) [@JayS](https://forums.speedlife.net/u/JayS)\ **Post date:** [July 17, 2008, 12:53pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/832 "2008-07-17T12:53:34Z")
Anyone want to make a wild ass guess what it does tomorrow? ---
**Author:** ![CrazyLT1](https://avatars.discourse-cdn.com/v4/letter/c/bc79bd/32.png) [@CrazyLT1](https://forums.speedlife.net/u/CrazyLT1)\ **Post date:** [July 17, 2008, 12:57pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/833 "2008-07-17T12:57:40Z")
> [@JayS](#): > > Anyone want to make a wild ass guess what it does tomorrow? $125 I hope:cool: But honestly who knows… ---
**Author:** ![boardjnky4](https://avatars.discourse-cdn.com/v4/letter/b/96bed5/32.png) [@boardjnky4](https://forums.speedlife.net/u/boardjnky4)\ **Post date:** [July 17, 2008, 1:23pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/834 "2008-07-17T13:23:28Z")
$129.90!!! oh noes!! ---
**Author:** ![JayS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jays/32/15375_2.png) [@JayS](https://forums.speedlife.net/u/JayS)\ **Post date:** [July 17, 2008, 1:34pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/835 "2008-07-17T13:34:27Z")
> [@boardjnky4](#): > > If it closes under $130, like it is now, I am going to lay down some serious rubber tonight. > Light, sweet crude for August delivery fell $5.31 to settle at $129.29 a barrel on the New York Mercantile Exchange. Burnout pics or ban. 🙂 ---
**Author:** ![boardjnky4](https://avatars.discourse-cdn.com/v4/letter/b/96bed5/32.png) [@boardjnky4](https://forums.speedlife.net/u/boardjnky4)\ **Post date:** [July 17, 2008, 1:35pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/836 "2008-07-17T13:35:51Z")
> [@JayS](#): > > Burnout pics or ban. 🙂 I will need a camera man but might be able to pull through on that ---
**Author:** ![articzap](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/articzap/32/7361_2.png) [@articzap](https://forums.speedlife.net/u/articzap)\ **Post date:** [July 17, 2008, 3:13pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/837 "2008-07-17T15:13:24Z")
I’ll come film. ---
**Author:** ![boardjnky4](https://avatars.discourse-cdn.com/v4/letter/b/96bed5/32.png) [@boardjnky4](https://forums.speedlife.net/u/boardjnky4)\ **Post date:** [July 17, 2008, 3:18pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/838 "2008-07-17T15:18:07Z")
I live in NC ---
**Author:** ![articzap](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/articzap/32/7361_2.png) [@articzap](https://forums.speedlife.net/u/articzap)\ **Post date:** [July 17, 2008, 3:26pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/839 "2008-07-17T15:26:42Z")
I’ll drive a mile if you drive the rest of the way. 😛 ---
**Author:** ![CrazyLT1](https://avatars.discourse-cdn.com/v4/letter/c/bc79bd/32.png) [@CrazyLT1](https://forums.speedlife.net/u/CrazyLT1)\ **Post date:** [July 18, 2008, 11:31am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/840 "2008-07-18T11:31:57Z")
Prices are holding fairly steady today :tup: $128.34 right now… [Previous page](https://forums.speedlife.net/t/the-oil-prices-thread/44739.md?page=41) [Next page](https://forums.speedlife.net/t/the-oil-prices-thread/44739.md?page=43)