Home » Content

Oil fluctuates as Gustav bears down on Gulf : comments

Return to Oil fluctuates as Gustav bears down on Gulf

»

absurd....

Submitted by jimmyfan on Thu, 08/28/2008 - 10:04am.

" sending oil prices jumping above US$120 a barrel Thursday on fears of production slowdowns."-from an article in the Satesman

Simply based on fear of a production slow down.
There is also a chance of aliens coming down and giving us an eternal supply of oil, does that drop the price?

»

Absurd is correct, jimmyfan, but

Submitted by ConservoDem on Thu, 08/28/2008 - 10:14am.

not surprising. Oil prices reflect speculative gambling, not supply and demand. If refining capacity is seriously damaged by Gustav, demand for unrefined oil will drop until they are brought back on line -- so oil prices should drop in light of a hurrican threat, not rise.

»

rrrrrrrrrr.....

Submitted by jimmyfan on Thu, 08/28/2008 - 4:02pm.

but THEY are saying it will result in a supply shortage, therefore a rise in price...

This all translates to me as hogwash I say.

»