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NickB79

(19,236 posts)

23. Same thing happened the last time the global economy went into recession

Reply to Omaha Steve (Original post)

Thu May 24, 2012, 02:52 PM

May 2012

Oil dropped from $140/barrel all the way down to $40/barrel as demand destruction around the world set in.

If you don't see the writing on the wall of what's coming, you really haven't been paying attention.

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Oil drops below $90 for 1st time since October [View all] Omaha Steve May 2012 OP

Cue the doom and gloom predictions from the far right over low oil prices! nt cstanleytech May 2012 #1

I'm certainly not seeing much in the way of drops around here :( strategery blunder May 2012 #2

Credit Mittens for the decease in oil prices Iliyah May 2012 #3

Well FOX already said low oil was a sign of a weak economy SoutherDem May 2012 #6

I paid $3.30 while driving through Virginia last week. nt onehandle May 2012 #4

"Benchmark U.S. crude fell by $1.95 to end at $89.90 per barrel." unkachuck May 2012 #5

It should be approx 3% of the barrel cost. Should be at $2.97 for current oil pricing. bluesbassman May 2012 #10

thanks bluesbassman.... unkachuck May 2012 #13

It's not that simple because oil isn't really $90 a barrel Spider Jerusalem May 2012 #12

thanks Spider Jerusalem but we have to keep it simple for the mathematically impaired like me....n/t unkachuck May 2012 #16

DAMN THAT OBAMA...oh wait... Drunken Irishman May 2012 #7

FOX : lower gas prices is bad.... Grassy Knoll May 2012 #8

Thank you, Mr. President! klook May 2012 #9

OMG! The sky is falling and it's all Obama's fault! freshwest May 2012 #11

Since it is President Obama's fault when prices go up - shouldn't he be getting credit when they go jillan May 2012 #14

No. Turbineguy May 2012 #15

Yes!! Thanks, President Obama AnotherWyoDemocrat May 2012 #22

Not helping much here in South California. All around me its $4.15 to $4.35 a gallon . . . Journeyman May 2012 #17

Then why are we still at 3.89 in Michigan? sarcasmo May 2012 #18

3.36/gal in NGeorgia on Tuesday Glitterati May 2012 #19

Gas just went up .10 at my corner station, still above $4/gal far western Chicago suburbs... nt riderinthestorm May 2012 #20

"Why Obama's Cracksown on Oil Speculators Won't Work" sofa king May 2012 #21

Same thing happened the last time the global economy went into recession NickB79 May 2012 #23

Yet gas is still well over $3.00 Thrill May 2012 #24

$4.13 Hawkowl May 2012 #25

3.87 in Michigan, the only thing that makes sense is greed. sarcasmo May 2012 #26