Oil price dips below $90 a barrel

[Bindare_Dundat]

Analysts say the decline reflects concern that the financial crisis in the US and Europe will lead to a global slowdown and a drop in demand for oil.

Shares on Gulf stock markets also fell fallen sharply. Shares in banks and building contractors were among those hardest hit.

The Saudi Arabian stock market, the largest in the Arab world, dropped more than 9%.

Other markets saw falls of between 4 and 6% - Dubai was 4.5% down, Abu Dhabi and Qatar 4%, while Kuwait shed 3.5% and Oman dipped 6%.

The sharp falls, the biggest single-day losses in several years, came on the first day of trading after the Eid al-Fitr holiday that ends the month of Ramadan.

[Hugo Chavez]

IT'S THE ELECTION DUMMY

(not calling you a dummy)

after what happened in the gulf, the damage. after having the pipelines through georgia shut down for a long period.  If it were not for the election, gas would be at 5.50.  How many times over the years did we watch them hike gas at the slightest bump in anything oil related.  now all of a sudden it doesn't work that way??  LOL...

[Fury]

IT'S THE ELECTION DUMMY

(not calling you a dummy)

after what happened in the gulf, the damage. after having the pipelines through georgia shut down for a long period.  If it were not for the election, gas would be at 5.50.  How many times over the years did we watch them hike gas at the slightest bump in anything oil related.  now all of a sudden it doesn't work that way??  LOL...

So you're saying the fact that both the US and European stock markets are imploding has absolutely nothing to do with the fact that oil prices are dropping? Oh brother. 

[Hereford]

Since oil is under 88 bucks now... How come gas isn't at $2.00 a gallon again?

[Hugo Chavez]

So you're saying the fact that both the US and European stock markets are imploding has absolutely nothing to do with the fact that oil prices are dropping? Oh brother. 

you forgot to call me an idiot with a 40 IQ.  How the hell did you get this from what I said?  When there is a cartel behind the scenes any number of hehind closed door reasons can possibly be associated with the price drop.  election manipulation and economic controls are both valid to explore and related Oil is the life blood to our economy.  What you got meltdown boy?

[Hugo Chavez]

Since oil is under 88 bucks now... How come gas isn't at $2.00 a gallon again?

they'll probably say refinery issues.  but like I said, we went through years of reaction to news, not facts.  We've all seen prices at the pump jump overnight on bad news, it almost became a constant.  up on bad news, but not down on good news.  That isn't happening lately.  hmmm..  That lower oil price also goes into a lot of other products aside from gas so there are a lot of companies this rapidly lowers an expense for.

[Hereford]

they'll probably say refinery issues.  but like I said, we went through years of reaction to news, not facts.  We've all seen prices at the pump jump overnight on bad news, it almost became a constant.  up on bad news, but not down on good news.  That isn't happening lately.  hmmm..  That lower oil price also goes into a lot of other products aside from gas so there are a lot of companies this rapidly lowers an expense for.

In Cali, they always arrainge it so that about 15% of the refining capacity is down at any one time. They call it "Maintenance", and jump the price accordingly. Sometimes they amazingly find some emergency issue that causes like a 9 month shutdown, amazing thing is that it seems to happen quite predictibily. They also have that oxygenating chemical (name?) added to only California gasoline so that nobody can import from out of state. Thus, California fuels usually compete with Hawaii for having the most expensive costs for the consumer.

Oil companies claim they have razor-thin margins, but seem to make how many billions in sheer profits every quarter?

[Hugo Chavez]

In Cali, they always arrainge it so that about 15% of the refining capacity is down at any one time. They call it "Maintenance", and jump the price accordingly. Sometimes they amazingly find some emergency issue that causes like a 9 month shutdown, amazing thing is that it seems to happen quite predictibily. They also have that oxygenating chemical (name?) added to only California gasoline so that nobody can import from out of state. Thus, California fuels usually compete with Hawaii for having the most expensive costs for the consumer.

Oil companies claim they have razor-thin margins, but seem to make how many billions in sheer profits every quarter?

yup... pretty slick scam operation the boys are running lol.