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Post by jeffolie on May 14, 2010 14:56:58 GMT -6
Oil's $16 decline.
Oil recently was about $87 and at one point today was about $71 for a decline of $16.
A big part of the price movement has to do with weak 'Europe'. Eurotrash are putting on austerity measures that take cash out of the hands of its people (to give it to bond holders such as banks).
Eurotrash consumer spending will be crashing. Greece, Spain and Portugal are obvious but others will hunker down with fear. Some are buying gold which means they are NOT buying consumer items.
The falling Euro [now $1.23 buys one Euro] has different impacts such as a trade problem in the UK as EuroTrash products cost less there as well as in America. While imported items will cost more in Euros that buy less.
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Post by jeffolie on May 14, 2010 15:10:24 GMT -6
So, when will gas fall at the pump in America?
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Post by waltc on May 14, 2010 20:24:53 GMT -6
It won't. Why should it drop when Americans are addicted to SUV's, V-8 sports cars and monster pickups?
It's clear Americans would rather get raped at the pump than downsize. And I fully support the oil companies gouging them.
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