I agree with this.
What kind of % are we talking about though?
My point is oil is never going to drop significantly unless demand drops or supply increases.
shit, I was watching something on the news that liberal activists in California are even all for off shore drilling now.
That says a lot IMO
Really hard to say. Speculation has never been a problem because there was always approximately an equal number of people who thought a given item would go up or down. Nobody honestly thinks oil/gas is going to go down these days, everyone thinks its going to go up forever. Thus, we get fucked by the imbalance. If we didnt get speculation regulation, all we would really need to get that factor out of the market is a big group of really, really rich people willing to short oil for the greater good, and trust that they’ll get theirs. Short of a supply crunch or demand spike, they would. Speculation is self-fulfilling if you do it in big enough quantities.
Oil prices plunge at fastest rate in 17 years over economic fears
down another $3.44 so far today to $135.30
< 130 by the end of the week?
lets hope so
If it goes below 130, I will be doing hairy burnouts at every stop light
:lol: I hit refresh and it dropped from 138 to 133. 
they are saying on bloomberg.com that the reason it is dropping is a lower demand, and NOT because our dollar value is low right now.
So does that mean that this is only a temporary drop? If prices go down, and people start feeling relief, will the visit the pump more often and drive the demand back up?
Of course if people feel relief at the pump, they are more likely to start spending in other areas, which will surely help the economy as a whole.
What are your thoughts? I am I complete idiot? I did NOT pay attention in my economics class in high school.
a demand change is about the best kind of drop you can hope for. It’s the longest lasting one.
Jim Roger’s take on oil…
http://www.hellenicshippingnews.com/index.php?option=com_content&task=view&id=12891&Itemid=37
From the article…
“He said those who blame speculators for oil price surge do not understand the oil reality in the world.”
But hey, I will take NYSPEED’s word for it.
I mean after all look at your credentials.
it is back up to almost 135. I think it will end up closing back up near where it closed yesterday
134.62
Much better to take the word of a guy in the commodities business.
I’m sure you ask car salesmen how much you should pay for a car too.
Was it the class called “Supply and Demand and the other eight things Jay listed”?(That is a fairly new course.)
AWDrifter I think you’re just messing with Jay, but you’re not really arguing that demand is the ONLY cause for the price jump over the last year?
He’s on the phone right now having Brown and Williamson explain why smoking is good for you, and how anyone who doesn’t understand that clearly doesn’t understand modern medicine.