TJones Posted October 5, 2006 Share Posted October 5, 2006 I am sure there are those (you know who you are) that will say they wouldn't have to come down if it wasn't for Bush making them go up in the first place. The fact remains, that everyone is sooooo relieved about the price of oil now. What factors do you think are causing this drop. War in Iraq is still going on, winter is just around the corner. A major pipeline for BP is still shutdown. No drilling in ANWR still.I think it could be perhaps 3 big factors, the oil indusrties got caught with their hand in the cookie jar after Bush launched a investigation, and there has been no severe Hurricanes for us this year. Also, the fact that they just found that big discovery in the Gulf. What else can you good people come up with ? Link to comment Share on other sites More sharing options...
musicman Posted October 5, 2006 Share Posted October 5, 2006 on the noon news they were saying opec wants to cut production as a result. Link to comment Share on other sites More sharing options...
houstonfella Posted October 5, 2006 Share Posted October 5, 2006 Could it be gas prices have come down to reality. Gas really should be around or below two bucks a gallon? We'll know if they creep back up toward the three dollar price again. But I will say, cool. Link to comment Share on other sites More sharing options...
TheNiche Posted October 5, 2006 Share Posted October 5, 2006 on the noon news they were saying opec wants to cut production as a result.OPEC is prone to sabre-rattling...the inexperienced young energy traders will get spooked and bid up the price of oil in the short term without OPEC having to actually do anything at all.Realistically, though, OPEC has a long-term interest of keeping the price of oil below $40 per barrel. Anything much higher and the incentive for energy companies to invest in alternate means of hydrocarbon production and alternative energies becomes too high. Meanwhile, consumers are able to economize greatly on energy if they're exposed to high prices for more than a few years at a time and have the opportunity to alter their lifestyle choices. Link to comment Share on other sites More sharing options...
nmm Posted October 10, 2006 Share Posted October 10, 2006 Most probably oil went up due to the Iran-US Affair, and the Lebanon-Israel War. After things cooled down, so did oil. Link to comment Share on other sites More sharing options...
Pumapayam Posted October 10, 2006 Share Posted October 10, 2006 Oil should realistically be between $40 and $50 like it was 3 years ago, will the Houston price per gallon being around $1.25 for regualr unleaded.I would say $1.50 worst case.But us accepting $2.00 is just wierd, a year and a half ago, $2 gas made news and made people mad, now we are just happy to see it at or below $2. Link to comment Share on other sites More sharing options...
Jeebus Posted October 10, 2006 Share Posted October 10, 2006 Here are some charts from a recent CNN article I read. It really puts our thirst for oil in perspective. Here is that article: http://www.cnn.com/SPECIALS/2006/fueling.america/ Link to comment Share on other sites More sharing options...
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