Oil prices may have peaked

[liberal N proud]

LA Times

Since oil futures soared past $133 a barrel two weeks ago, crude has taken a hefty tumble during four trading sessions, including a $3.45 drop Tuesday to $124.31 a barrel, leading an increasing number of energy watchers to wonder whether the mania is easing.

And what does that mean for gasoline and the cost of future fill-ups?

"On the gasoline side, we're pretty close to the peak in price," said Phil Flynn, senior market analyst at Alaron Trading Corp. in Chicago. "Finally, a break for the poor consumers."

Although consensus on oil matters is hard to come by in a market that has repeatedly defied expectations, Flynn and others believe the stunning rise in crude prices may be over for now -- barring hurricanes or other major disruptions.

http://www.latimes.com/business/la-fi-oil4-2008jun04,0,311439.story?track=ntothtml

[PuraVidaDreamin]

1. Ahh, but just you wait til the first hurricaine...

The greedy speculators just can't help it-

[barbtries]

2. so it'll get down to $3 or $3.50 a gallon

and we'll all think we're getting a deal. for some time i have believed that that is how they rig the game - take the price up to where it is unsustainable, then drop it, just not to where it used to be, but just to where it seems like a deal compared to how high it got. sometimes i wish i was amish!

[liberal N proud]

3. They have done it for years

They have made $3.00/gal look cheap and then they can let it rest there for a while before doubling it again.

[Javaman]

8. Exactly right...

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=3384381&mesg_id=3384381

[Epiphany4z]

4. I forget where I saw it

but last year sometime Bill Clinton gave an interview and said $5 a gallon within 5 yrs. I believe him...I still don't want his wife as vp... but I believe him on the gas prices.

[JohnWxy]

10. $5 by next summer if not before.

[LiberalEsto]

5. They'll come down before the election

and go back up afterward. Those oil barons always help the rethuglicans.

[Warren Stupidity]

6. 'peak'? not likely.

A short term pause is more like it. The long term trend is up, inexorably up. India and China are driving (pun intended) this show now.

[Lint Head]

7. The shit will hit the fan soon and oil prices will drop like

a rock. The market is being driven by Index Speculators. They are responsible for 70% for the prices rise. If you didn't see the questioning of George Soros, Mr. Rama of the heating oil association, Dr. Greenburg and Mr. Cooper of the CTFC by Senators and Congressmen yesterday, you missed a good one. I now totally understand what is going on with oil prices.

They said that 70% of the price of oil is baloney. That people should go to jail. It was a blast. Mr. Cooper was great. The Enron Loophole is the problem. It was never closed and could have been had it not been for Phil Gramm's midnight change in the wording of the energy bill. Phil Gramm should be removed from office! :dem:

[hunter]

9. That means we are successfully shrinking the U.S. economy.

This is not good news for most people.

People who have lost their jobs or most of their business suddenly have more serious things to worry about than the price of gasoline.

[tom_paine]

11. Don't forget, the Great Even-Year Election Price Plummet is coming in Sept.

Because as Andy Card said, you don;t roll out a new marketing scheme in August.

Just like n 2006, 2004, and 2002. Now that the Oil Industry has criminal Bushies as it's "police", all manner of price fixing has and will continue to be done.

The reason? Psychology and marketing, of course. When the price is dropped and the Oil Barons briefly cease their fraud and thieving until December, the whole nation will heave a sigh of relief and get the good feeling that a heroin addict must get when their dealer lets them have their junk at a discount rate and that drug hits their veins.

Gestalt-based propaganda, which is what the Bushies do, is predicated on creating a False Relaity Bubble and also attacking people at their subconscious. That "heroin rush" we're about to get from cheap (relatively) gas for three or four months is going to make people FEEL GOOD, OH SO GOOD.

This will translate into Bushie votes, combined with the rest of their propganada apparatus.

Watch and learn about Inverted Totalitarianism at work.

[phantom power]

12. I'm guessing that Phil Flynn, senior market analyst, never predicted oil would ever hit $100.

Much less $124, or $133. So, with no respect, what does he know?

[phantom power]

13. (...)