Oil's back up... - PeachParts Mercedes-Benz Forum

iwrock · #1 09-22-2008, 07:54 PM

http://www.nytimes.com/2008/09/23/business/worldbusiness/23oil.html

Oh well, it was nice.

Larry Delor · #2 09-22-2008, 08:15 PM

One more chance for those who bought at the tippy top to sell, and minimize their losses.

Ara T. · #3 09-22-2008, 08:23 PM

Fill up now folks

LUVMBDiesels · #4 09-22-2008, 08:37 PM

The high price was on October contracts. As was said above it was more market manipulation to try and eek a profit on the last day of sales. I heard that the November contracts should hover around $90~$95...

raymr · #5 09-22-2008, 08:52 PM

Oil is trending downward. At least that's what the lady from my heating oil company said, who has just as much credibility now as anyone.

A264172 · #6 09-22-2008, 09:02 PM

When the market goes south, oil is one of the few places for the money to go. So common sense may be in trouble for a while.

LaRondo · #7 09-23-2008, 12:44 AM

Oil could be soon an obsolete energy source .... not only could be, it will be.

Therefor, those at the trigger will sqeeze every dime out of it, if they can, before it (oil) goes down in line with the least desireable energy sources ...

Hang on to your Diesels, fellas!

Hatterasguy · #8 09-23-2008, 01:05 AM

What your seeing is the result of confusion and fear, all the metals jumped up as well. Oil is seen as safe, for now.

If the markets stabilize, it will come right back down to the low 90's range. If they keep going nuts, or if it gets worse, it will shoot sky high. Which would cause whats left of the economy to grind to a hault.

Its anyones guess what the markets do, at this point. I'm usualy extremely optimistic about this stuff, but I'm not now. My gut is telling me this could be the start of a much bigger problem. Either way nothing to do now but keep watching.

IMHO I see it going two ways:
Best case the markets respond to either Washington or good old market forces and stabilize.

Worst case, they keep going nuts and fall apart. No one can get any credit, oil shoots up to un imaginable levels taking up everyones spare cash, un employment sky rockets. The world enters the 2nd Great Depression. We all stand in soup lines talking about the MB's we used to have, as we look for work.

tankdriver · #9 09-23-2008, 04:05 PM

What was nice? The hurricanes excuse kept gas prices high.

aklim · #10 09-23-2008, 04:12 PM

Quote:

Originally Posted by LaRondo

Oil could be soon an obsolete energy source .... not only could be, it will be.

What is the definition of "soon"? I agree oil will be obsolete at some point in time. When it will be is the question. Over the history of mankind, "soon" could be say 200 years. For our lifespan, "soon" could be "10 years. Which "soon" are we talking about?

Hatterasguy · #11 09-23-2008, 06:20 PM

$106 today!

I wish this ***&((*** economy would get back on track so I can start making some money.