Oil falls below $37.00.

[PROGRESSIVE1]

http://biz.yahoo.com/cbsm-top/040609/43d6b304c5d960a6701a8778c816ba76_1.html

"Crude fell to a six-week low Wednesday. July futures were last down 38 cents to $36.90 after falling as low as $36.75 after the Energy Department reported that crude stocks for the week latest week rose"

Why is this? Are the Saudis helping their Freind Bush?

[tom_paine]

1. Yes. Yes they are. Plus other machinations we are unaware of

Like I'll bet the Busheviks have stopped buying scads and scads of Strategic Oil Resrve oil AT TOP PRICES (the better to steal from you, my dear), which probably resulted in this imediate drop.

With the Busheviks, EVERYTHING (or damned near close to it) is a lie.

[PROGRESSIVE1]

2. Then why aren't the prices at the pumps falling?

[Tandalayo_Scheisskopf]

5. Why?

Because the oil business is pure arbitrage: Jack the price immediately on a rise, then keep it up for as long as possible on the fall, to increase the margins. It maximizes profits for the refiners and the oil companies.

By sucking money out of you.

[tom_paine]

6. Give it time. They will delay it as much as they can

to steal as much as they can and also help their Emperor* (the Bushevik Oil Princes).

It will come down, though, in 1-2 months and stay there.

Bank on it.

[PROGRESSIVE1]

9. Won't the high prices impact the economy negitivaly?

[tom_paine]

11. Bushevik Pravda's Endless Parade of Lies and Half-Truths is helping with

that.

Some of the benefits of a Nazi/Societ style Lie Laundry & Sub-Media combined with a populace still gullible who hasn't caught on yet.

[jackstraw45]

3. Of course..we KNEW this would happen.

Record highs over Memorial Day weekend and the price should fall until about October. Oil prices will start rising again for Holiday season driving after that but gas prices will still be lower for the first week of November.

[Tandalayo_Scheisskopf]

4. Try to remember something:

In the past, over-speculated oil markets have tended to have BIG readjustments, down to very low prices. This could well be happening again.

[NEOBuckeye]

7. Think lower Oil prices are going to last? Don't believe it.

We're almost out, anyway. This will probably just be the calm before the real storm hits. The Saudi and Bush families, and their allies are all simply milking this travesty for all that its' worth.

[StopThief]

8. Are you aware that OPEC has set as a goal. . . .

a price range of $22-28 dollars for the past several years.

OPEC recognizes that the economies of the world can not thrive with oil over $40. If economies go in the dumps, the demand for oil goes down, and they cannot continue to make sufficient profit.

They are trying to bring down the price of oil because it is in their own interest to do so.

[IXLNXS]

10. Bandar Bush

Didn't that Prince Bandar Bush already deny that oil prices would drop before the election to help Bush look good?

Now how dare you question someone of such worthy character.

Don't you dare bring up the meeting he had with Bush and Rummy. It's just not fair.

[Fovea]

12. The price of oil *is* arbitrage.

But the following factors are still true.

S.A. is not going to be able to either enforce, or meet on its own,
the additional 3mil bbl target. China, Russia and India continue to increase consumption.

Extraction costs will not decrease. Huge reserves are not waiting to be found.

Nothing in the short or long term views right now suggest an increase in the stability of several significant producer states.

The Wahabbists own a big chunk of our economy, note the TV spots. We have been shown the velvet glove; when they no longer feel it effective, we will be shown what's under it.

If Bush can't win, they have no reason to depress the price. So by the Repub convention, the price will be way up.

[PROGRESSIVE1]

13. If India and China's demand continues at the current rate...

then shouldn't the oil prices stay around $40.00 or so?

I see no reason why they are going down except for some cheap "hope rally".

[Fovea]

14. The new production target is like a puff of oxygen

or a lump of sugar. When the target proves unreachable, they will pop the price back up fiercely.

They cannot unmake the geologic, economic, and political underpinnings of the market by fiat.

[PROGRESSIVE1]

15. That must be why gas went up 3 cents today where I live.