Yup profits are at a max now for them the price is not dropping the the crude is. I do not think we will a drop on the pumps or at most 3 cents on the liter or 10 on the gallon.
International Level: Senior Politician / Political Participation: 188 18.8%
Surprise!? Really? Excuse me, but this was not any kind of a surprise. The price of oil goes DOWN, OPEC cuts production to keep demand HIGH and push the price back UP. It's all about profits.
QUOTE |
LONDON, Sept 10 (Reuters) - Oil rose on Wednesday in response to a surprise decision by OPEC to cut production by about half a million barrels a day. The Organization of the Petroleum Exporting Countries had been expected to keep existing output allocations but some members had voiced concern about a growing surplus of oil on the market as high prices have impacted demand. |
International Level: Ambassador / Political Participation: 595 59.5%
I love the latest excuses though the storms are coming and might possible well maybe effect the production so we have to keep the prices up. In fact lets jumped it 13 cents a liter or 52 cents a gallon.
International Level: Senior Politician / Political Participation: 188 18.8%
Did you all see the above Oil Future: $92.24 -3.47, it will get lots lower I think because just now no one will even be able to afford a bus ticket.
International Level: International Guru / Political Participation: 3231 100%
Yeah I have been watching the cost of crude oil fall since yesterday. I wonder how far it will fall and how long it will take for the falling price to show up on pumps. Paying $3.70 a gallon while oil prices are so low just proves how greedy the oil companies are.