[Heineken]

Maybe you've been "worrying" about the elections, but you can be damned sure the GOP has been worrying (no disparaging quotation marks) about them. I doubt if it is sheer coincidence that the gasoline price has dropped dramatically just in the couple of weeks preceding an important (to most Americans, anyway) off-year election. The GOP power structure has a few strings it can pull, y'know.

Maybe one day we'll actually find something to agree about, Mr. Bill. Miracles happen.

[MrBill]

$this->bbcode_second_pass_quote('Heineken', 'M')aybe you've been "worrying" about the elections, but you can be damned sure the GOP has been worrying (no disparaging quotation marks) about them. I doubt if it is sheer coincidence that the gasoline price has dropped dramatically just in the couple of weeks preceding an important (to most Americans, anyway) off-year election. The GOP power structure has a few strings it can pull, y'know.

Maybe one day we'll actually find something to agree about, Mr. Bill. Miracles happen.

[GoIllini]

$this->bbcode_second_pass_quote('Heineken', 'M')aybe you've been "worrying" about the elections, but you can be damned sure the GOP has been worrying (no disparaging quotation marks) about them. I doubt if it is sheer coincidence that the gasoline price has dropped dramatically just in the couple of weeks preceding an important (to most Americans, anyway) off-year election. The GOP power structure has a few strings it can pull, y'know.

Maybe one day we'll actually find something to agree about, Mr. Bill. Miracles happen.

[peripato]

$this->bbcode_second_pass_quote('GoIllini', 'W')hat's to say the rest of the country hasn't at least reduced it by 2-4% on average and that's the reason oil's getting cheaper? That's what a lot of oil traders are claiming.

[donshan]

Just to update this thread, oil again dropped sharply today to the $57-58 range. This is the level of the major up trend line in oil prices. This trend line is very important, since many oil traders use technical analysis, and a significant break of this up trend would be a self fulfilling prophesy causing more selling leading even lower prices. I would guess there are substantial "stop loss" orders just below today's prices.

I think we are now near the decision point of the two possibilities I posted at the beginning. If oil bounces from here in response to the inevitable colder weather in the northern hemisphere, along with ending the SPR releases, and the US election over, the drop may be nearly over. I will then be looking to see if the next rise exceeds the previous high over $70 by spring.

However, if the oil price breaks to $55 or lower, it would seem to me to indicate Peak Oil 2005 has been deferred again, in the face of ample oil supplies.

I don't trade oil, so I can just be an interested bystander that is still affected whether I like it not.

[skiwi]

[url=http://www.heraldsun.news.com.au/common/story_page/0,5478,17210860%255E1702,00.html]Oil price at 4 month low
[/url]

WORLD oil prices dropped heavily on Thursday after a jump in US crude inventories signalled that demand for energy is cooling, analysts said..

..."Against the backdrop of the continuing civil unrest in France and the spreading avian flu concerns, it can't help but have a negative effect on global travel and tourism," Fimat analyst Mike Fitzpatrick said...

...The DoE report "showed a surprisingly large increase in crude supply, increasing concerns that demand is faltering", Sucden analyst Sam Tilley said. French bank Societe Generale added that "in short, hurricane-hammered product stocks are rebuilding amazingly fast"...