Oil prices reach new high for 2009 as dollar falls »
Posted By STONERS 8 months, 2 weeks ago in Business & FinanceA weakened dollar and evidence that OPEC has significantly slowed production sent oil prices soaring to new highs for the year Thursday.
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STONERS8 months, 2 weeks ago
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"I think we'll see higher oil prices for a while," said Michael Lynch, president of Strategic Energy & Economic Research. "There's an expectation that the market has bottomed out."
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"Benchmark crude for April delivery surged $3.47, or 7 percent, to settle at $51.61 a barrel on the New York Mercantile Exchange. Oil prices hit $52.25 earlier in the day, a price last seen on Dec. 1." -
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slate8 months, 2 weeks ago
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What? You mean the price of oil is tied to the dollar and it doesn't just go up because W makes a call to enrich his buds as the left always claims?
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This either means Obama is now soaking us to make all his buds rich (evil) or W is still in charge and making those calls.
Economics 101 when you put trillions of dollars into the market like they have since last fall to date, it weakens the dollars value, thus inflation.
Just wait until the banks that have all this stock piled bailout money decide it's time to start loaning again (all at once),,,,,, it will make the inflation years of Carter look like child's play.
Oh BTW did you hear Obama refer to the 'special olympics' while talking about his bowling last night -
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Justice4All8 months, 2 weeks ago
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W did a lot of things, but he didn't control the price of oil. He lied about a war, spied on Americans and sent America into a huge economic mess that our kids will be paying for. He should have been impeached and put on trial for war crimes.
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But he never manupilated the oil price. If he could have he would have brought the oil price down because that would have been good for the economy. -
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getreal18 months, 1 week ago
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With the price of gas being jacked up I don't see any way out of debt for this country. Credit is a bad joke, always has been for me. I would rather pay cash. If I don't have that, I don't buy. Everything you pay for is over priced, so where are the changes?
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