 |
|
 |
Oil below $88 |
 |
10-06-2008, 03:48 PM
|
|
Super Member
1,000,000 Points
|
|
Join Date: Sep 2007
Location: Seattle, WA, USA
Posts: 1,897
|
|
|
Oil below $88
Quote:
|
Oil dropped more than 6 percent to below $88 a barrel on Monday as a global market rout churned concerns that faltering fuel demand could slow further.
|
Oil drops 6 percent to below $88 on demand concerns: Financial News - Yahoo! Finance
__________________
Laptop: Vostro 1400 1.6ghz C2D, 1g DDR2, nVidia 8400, vista
Folder: e2160@1.91ghz, 768mb DDR (hybrid NB chipset), winxp (DEAD atm)
Storage: 2.6ghz P4 Northwood, 512mb DDR, TNT2, ubuntu 1.2TB (offline)
Fun: OLPC XO
HTPC Phenom x3 @ 262x10.5, 2gb DDR2@440 4-4-4-14 2T, 9800GTX+, Geforce 8200 chipset
|
|
|
|
10-06-2008, 03:51 PM
|
|
Super Member
1,000,000 Points
|
|
Join Date: Sep 2007
Location: Seattle, WA, USA
Posts: 1,897
|
|
|
I told you it would be BAD news if oil went this low. I'd say that DOW under 10k and dropping as much as 800 points during trading is a decent indicator of "bad".
High oil prices didn't really hurt out economy that much which is why it was ok for oil to stay high. But our economy can hurt the price of oil a whole lot... which is what you see now. Here's hoping that our economy and the price of oil both recover. I'd much rather have a good economy with $120 oil then a bad economy with $80 oil and strong economy and cheap oil definitely have an inverse proportionate relationship.
__________________
Laptop: Vostro 1400 1.6ghz C2D, 1g DDR2, nVidia 8400, vista
Folder: e2160@1.91ghz, 768mb DDR (hybrid NB chipset), winxp (DEAD atm)
Storage: 2.6ghz P4 Northwood, 512mb DDR, TNT2, ubuntu 1.2TB (offline)
Fun: OLPC XO
HTPC Phenom x3 @ 262x10.5, 2gb DDR2@440 4-4-4-14 2T, 9800GTX+, Geforce 8200 chipset
Last edited by flasher702; 10-06-2008 at 05:45 PM.
|
10-06-2008, 03:51 PM
|
 |
Grade A Ruthless Bastard
1,000,000 Points
|
|
Join Date: Jun 2007
Location: Lone Star State
Posts: 6,120
|
|
|
Keep fallin!
__________________
CERTIFIED PUBLIC ACCOUNTANT [CPA Pending, Jan 7, 2009] You've been Thread Jacked by SF03!
Franatium:SF's law: what can be thread-jacked WILL be thread-jacked
|P5Q Deluxe|1337 Water|9800 GX2|Corsair 750w|Raptor 150|4GB Crucial Ballistix|E8400 E0 @4.5| | 
[Today 09:22 AM] *Eurasianman beats logain down with his blow up doll*
[Today 03:52 PM] DaSickNinja: I kick puppies and drink the blood of children.
|
10-06-2008, 03:53 PM
|
|
Grade A Ruthless Bastard
1,000,000 Points
|
|
Join Date: Jun 2007
Location: Lone Star State
Posts: 6,120
|
|
Quote:
Originally Posted by flasher702
High oil prices didn't really hurt out economy that much which is why it was ok for oil to stay high. But our economy can hurt the price of oil a whole lot... which is what you see now.
|
Oil didn't hurt us that much? It sucked up disosible income faster than a Bounty paper towel after spilt coffee.
__________________
CERTIFIED PUBLIC ACCOUNTANT [CPA Pending, Jan 7, 2009] You've been Thread Jacked by SF03!
Franatium:SF's law: what can be thread-jacked WILL be thread-jacked
|P5Q Deluxe|1337 Water|9800 GX2|Corsair 750w|Raptor 150|4GB Crucial Ballistix|E8400 E0 @4.5|
[Today 09:22 AM] *Eurasianman beats logain down with his blow up doll*
[Today 03:52 PM] DaSickNinja: I kick puppies and drink the blood of children.
|
10-06-2008, 04:03 PM
|
 |
Member
1,000,000 Points
|
|
Join Date: Sep 2007
Location: Probably at your girlfriends right now...... having tea
Posts: 939
|
|
Quote:
Originally Posted by SuperFly03
Oil didn't hurt us that much? It sucked up disosible income faster than a Bounty paper towel after spilt coffee.
|
Agreed. I had to slow down on a loan payment just to keep gas in my cars.
__________________
GSX:
-ASUS P5Q Pro
-E8500@4.25Ghz
-Xigmatek S1283
-HD4870
-4GB PC2 8000
-1.25TB Storage
-ZALMAN 850 Watt
-Kworld HD TV Tuner
-24" P-MVA 1920x1200
-Windows 7 Ultimate 64
-15335 3DMark06 So far...
BLAH: ASUS M2A-VM|Phenom@2.6Ghz|OEM Cooler|XFX8800GTS 320|3GB 800Mhz|WD 500GB |Antec Earthwatts 430|
Beefy: Gigabyte P35-DS3L\Q6600\2GB 667Mhz\OCZ700 Watt\8800GT
IDK: Gigabyte 965-DS3/E6600@3Ghz/GTX260/2GB 667Mhz/Coolmax700 Watt
|
10-06-2008, 04:07 PM
|
|
Grade A Ruthless Bastard
1,000,000 Points
|
|
Join Date: Jun 2007
Location: Lone Star State
Posts: 6,120
|
|
|
DOW should have been under 10k months ago.
Dow is also a horrible indicator or the market. Horrible.
__________________
CERTIFIED PUBLIC ACCOUNTANT [CPA Pending, Jan 7, 2009] You've been Thread Jacked by SF03!
Franatium:SF's law: what can be thread-jacked WILL be thread-jacked
|P5Q Deluxe|1337 Water|9800 GX2|Corsair 750w|Raptor 150|4GB Crucial Ballistix|E8400 E0 @4.5|
[Today 09:22 AM] *Eurasianman beats logain down with his blow up doll*
[Today 03:52 PM] DaSickNinja: I kick puppies and drink the blood of children.
|
10-06-2008, 04:24 PM
|
 |
XCPUs.com Editor
|
|
Join Date: Jul 2007
Location: Sunny Colorado
Posts: 7,004
|
|
|
The bummer is that the price we pay for gas will not recover proportionately.
__________________
Asus Maximus Formula/QX9650/Mushkin Redline/ATI 3870X2/Zalman HP-850/RaptorX/custom WC
Asus Maximus Formula/Q6700/Mushkin 2x2GB Redline/ATI 3870/Mushkin 800/74GB Raptor/800GB Tunes/IFX-14
DFI CFX3200/Opteron 185/Mushkin Redline DDR-500/ATI 3870/Mushkin 650/74GB Raptor/1.5TB Tunes/TRUE
|
10-06-2008, 05:43 PM
|
|
Super Member
1,000,000 Points
|
|
Join Date: Sep 2007
Location: Seattle, WA, USA
Posts: 1,897
|
|
Quote:
Originally Posted by SuperFly03
Oil didn't hurt us that much? It sucked up disosible income faster than a Bounty paper towel after spilt coffee.
|
Using less gas while you have a stable income is a lot more rewarding than trying to buy cheap gas with no income. Americans had barely even begun to tighten their belts when it came to energy consumption until gas was over $3.50/gallon. It obviously wasn't hurting too bad.
__________________
Laptop: Vostro 1400 1.6ghz C2D, 1g DDR2, nVidia 8400, vista
Folder: e2160@1.91ghz, 768mb DDR (hybrid NB chipset), winxp (DEAD atm)
Storage: 2.6ghz P4 Northwood, 512mb DDR, TNT2, ubuntu 1.2TB (offline)
Fun: OLPC XO
HTPC Phenom x3 @ 262x10.5, 2gb DDR2@440 4-4-4-14 2T, 9800GTX+, Geforce 8200 chipset
|
|
|
|
10-06-2008, 05:59 PM
|
|
Super Member
1,000,000 Points
|
|
Join Date: Sep 2007
Location: Seattle, WA, USA
Posts: 1,897
|
|
Quote:
Originally Posted by Clue69Less
The bummer is that the price we pay for gas will not recover proportionately.
|
Depending how how long it stays down it should eventually come down proportionately but I imagine there will definitely be at least 3 months lag and if oil goes back up they will skip lowering the prices, even though the gas was made with cheap oil, and just hold the price steady in anticipation of more expensive oil coming down the pipe.
A few more bank failures, a bankrupt US car manufacturer, and we'll be down to <$2 gas!
A future I don't care to predict as the prediction is useless unless you are in a position to isolate yourself from the economy at large. I'm not. Most people aren't. I want to buy a house and keep it and that means staying employed.
__________________
Laptop: Vostro 1400 1.6ghz C2D, 1g DDR2, nVidia 8400, vista
Folder: e2160@1.91ghz, 768mb DDR (hybrid NB chipset), winxp (DEAD atm)
Storage: 2.6ghz P4 Northwood, 512mb DDR, TNT2, ubuntu 1.2TB (offline)
Fun: OLPC XO
HTPC Phenom x3 @ 262x10.5, 2gb DDR2@440 4-4-4-14 2T, 9800GTX+, Geforce 8200 chipset
|
10-06-2008, 06:23 PM
|
 |
Uber Member
10,000 Points
|
|
Join Date: Jun 2007
Location: In love with math professor :)
Posts: 2,226
|
|
Quote:
Originally Posted by Clue69Less
The bummer is that the price we pay for gas will not recover proportionately.
|
Yea, I hate it the way it takes long for gas prices to come down. But once oil goes up, so does gas.
Anyway, gas and oil prices are the cause for today's economic problems, all you have to do is use common sense.
__________________
Un-portable Leet: Intel Core 2 Duo E6300 @ 3.01GHz | Asus P5B Deluxe Wi-Fi | OCZ Platinum Rev.2 PC6400 2GB | Asus Radeon EAH3870 512MB | Galaxy GeForce 9600GSO 384MB (F@H) | Logitech G5 Mouse | Saitek Eclipse II |
Portable Leet: HP Pavilion dv6976ca Entertainment PC | Intel Core 2 Duo T5750 @ 2GHz | 4GB RAM | nVidia GeFore 8400M GS | 320GB HDD |
|
10-06-2008, 06:55 PM
|
 |
Super Member
250,000 Points
|
|
Join Date: Jun 2007
Location: nevada
Posts: 1,298
|
|
Quote:
Originally Posted by SuperFly03
Oil didn't hurt us that much? It sucked up disosible income faster than a Bounty paper towel after spilt coffee.
|
__________________
Don't sweat the petty things & don't pet the sweaty things
fx-60@2912,pc&p silencer 610, a8n32sli-deluxe, TT Big typhoon, Linksys wmp54gx4, x-fi, Evga8800gts 320 oc, 2gig patriot 2-3-2-5
Avatar fixed by Verndewd!
HELP XCPU'S http://www.birdhosting.com/
Sig Art Copyrighted by Verndewd
|
10-06-2008, 06:58 PM
|
|
Uber Member
|
|
Join Date: Apr 2008
Location: Montreal, Canada
Posts: 2,055
|
|
|
Yes, I can fill my Zippo up cheap now!
|
10-06-2008, 07:35 PM
|
 |
Xtreme Cook
500,000 Points
|
|
Join Date: Jun 2007
Location: Stephenville, TX
Posts: 1,594
|
|
|
Hmmm, this certainly won't help my Exxon Mobil stock. I'm all for gas going down... the high prices kill more than disposable income for many.
__________________
Folding@Home: Fighting diseases and stuff 1 WU at a time.
Quote:
Originally Posted by RyanLucier
Try and vandalize my car when I'm standing next to you and you'll have 235 pounds of all different flavors of badass.
|
|
10-06-2008, 09:46 PM
|
 |
Member
|
|
Join Date: Jun 2007
Location: Ontario, Canada
Posts: 483
|
|
|
High prices are good for Canadians at least in the long term. We'll be the next Saudi Arabia with a palace for everyone :P
__________________
Antec 1200
Corsair HX620w PSU
AMD x2 3800 EE Overclocked to 2.7ghz 
Asus Crosshair
Sunbeam Core Contact Freezer HSF 
EVGA 8800GTS 640,OC'd to 650/1000mhz 
Team Group Xtreem DDR2-800 4-4-4-10 RAM at 1160
Western Digital 250gig SE16 Hard Drive
Logitech G15 Keyboard, G7 Mouse
Logitech Z-5500 Speakers
Auzentech Prelude Sound Card
|
|
|
|
10-06-2008, 10:48 PM
|
|
Grade A Ruthless Bastard
1,000,000 Points
|
|
Join Date: Jun 2007
Location: Lone Star State
Posts: 6,120
|
|
Quote:
Originally Posted by flasher702
Depending how how long it stays down it should eventually come down proportionately but I imagine there will definitely be at least 3 months lag and if oil goes back up they will skip lowering the prices, even though the gas was made with cheap oil, and just hold the price steady in anticipation of more expensive oil coming down the pipe.
A few more bank failures, a bankrupt US car manufacturer, and we'll be down to <$2 gas!
A future I don't care to predict as the prediction is useless unless you are in a position to isolate yourself from the economy at large. I'm not. Most people aren't. I want to buy a house and keep it and that means staying employed.
|
Oil and gas are what I do. I audit OFS clients year round. I watch them like a hawk. Oil prices will make some companies tick. $85 a barrell is still a significant uptick for the year, or flat.... depending on your take.
It will take a crap load of dealership failures, car sales declines (in excess of the 40% seen to date) and a depression to bring back $2/gallon gas. It just ain't going to happen. Period.
__________________
CERTIFIED PUBLIC ACCOUNTANT [CPA Pending, Jan 7, 2009] You've been Thread Jacked by SF03!
Franatium:SF's law: what can be thread-jacked WILL be thread-jacked
|P5Q Deluxe|1337 Water|9800 GX2|Corsair 750w|Raptor 150|4GB Crucial Ballistix|E8400 E0 @4.5|
[Today 09:22 AM] *Eurasianman beats logain down with his blow up doll*
[Today 03:52 PM] DaSickNinja: I kick puppies and drink the blood of children.
|
10-06-2008, 11:06 PM
|
 |
Uber Member
100,000 Points
|
|
Join Date: Jun 2007
Location: folsom, CA (not prison)
Posts: 2,834
|
|
|
i might question that a bit superfly
things are happening now out side of the auto industry to change the game with oil
i think it will be higher than 40%
and faster than you would think
__________________
 
| |
