Oil is up $25 TODAY

#1
lawgator1

lawgator1

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#1
In one day, record jump of $25 to $130ish a barrel.

Now watch -- in the next 2-3 days, the price of gas will be back up to $4.00 or so. We were down to $3.55 or so here, but prices rise a lot quicker in reaction to oil increases than they fall in reaction to oil decreases.

Obama would be smart to harp on this a bit because people are going to be pissed this week.

Oil spikes $25 a barrel on anxiety over US bailout
 
#2
#2
mccain would also be smart to campaign that we need to drill our own oil and that obama is against drilling.
 
#3
#3
At least you have gas.....and a good football team. Here in Nashville almost all the stations are out of gas. When a station does get gas it is gone in a matter of hours and the wait is forever.
 
#4
#4
"Hello, I'm T. Boone Pickens and I have a plan for America that involves natural gas and wind."
 
#5
#5
joevol320 said:
mccain would also be smart to campaign that we need to drill our own oil and that obama is against drilling.
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That will play well with the people that already feel that way and support McCain anyway. But it will turn off those that feel that what we are seeing on Wall Street in terms of rampant and inexplicable greed is what is behind this, too.

It seems to me that, structurally, there were some things amiss with the investment banking industry and that executive payrolls are just part of it. But as these companies go under and we are talking a trillion dollars to bail them out, this is not going to go over well with those of us watching our 401ks dwindle while the people whose companies are going under are also bonusing each of themselves many millions.


615 Vol said:
At least you have gas.....and a good football team. Here in Nashville almost all the stations are out of gas. When a station does get gas it is gone in a matter of hours and the wait is forever.
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I heard about the gas situation there in Tennessee. Right at the time of Ike, there was a little panic and I had to wait in line for a few minutes, but there haven't been problems since.
 
#7
#7
615 Vol said:
At least you have gas.....and a good football team. Here in Nashville almost all the stations are out of gas. When a station does get gas it is gone in a matter of hours and the wait is forever.
Click to expand...

last time I checked, Vandy was 4-0 and the Titans are 3-0. So, aside from the gas problems, Nashville is the football kingdom of Tennessee right now.
 
#8
#8
lawgator1 said:
That will play well with the people that already feel that way and support McCain anyway. But it will turn off those that feel that what we are seeing on Wall Street in terms of rampant and inexplicable greed is what is behind this, too.

It seems to me that, structurally, there were some things amiss with the investment banking industry and that executive payrolls are just part of it. But as these companies go under and we are talking a trillion dollars to bail them out, this is not going to go over well with those of us watching our 401ks dwindle while the people whose companies are going under are also bonusing each of themselves many millions.


hey i agree. my 40k is hurting too. did you read this law? this is interesting.

Bloomberg.com: News
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#10
#10
MG1968 said:
last time I checked, Vandy was 4-0 and the Titans are 3-0. So, aside from the gas problems, Nashville is the football kingdom of Tennessee right now.
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I love the Titans but not much of a Vandy fan. I have always been a Vols fan and don't see any reason to pull for Vandy too. I do like MTSU but my wife goes there and they really aren't a threat to UT. The gas thing should be over in a few days but it sucks right now. I didn't realize how it could cripple a town like it has. People can't go anywhere but work. I'm not sure how the patrol cars are getting gas but it's a real problem.
 
#11
#11
Ironically, issues of this nature and the housing correction are going to pass this election to Obama and he knows absolutely nothing of macro or micro econ. Amazing to me.
 
#12
#12
lawgator1 said:
In one day, record jump of $25 to $130ish a barrel.

Now watch -- in the next 2-3 days, the price of gas will be back up to $4.00 or so. We were down to $3.55 or so here, but prices rise a lot quicker in reaction to oil increases than they fall in reaction to oil decreases.

Obama would be smart to harp on this a bit because people are going to be pissed this week.

Oil spikes $25 a barrel on anxiety over US bailout
Click to expand...

Thanks for the heads up. Will have to go fill up my gas guzzling tank.
 
#14
#14
civil departments like the police and fire departments will get gas before anybody else.

Maybe it's because of the Colonial Pipeline and the tank farm here in KNoxville, but most of our large chains (like pilot and Weigel's) have gas.
 
#19
#19
Chemvol said:
Hmmm...I guess I should give him some kudos for getting all that unprofessional chestbumping off our sidelines.
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I wish he would buy Fulmer, Chavis, Clawson, and Hamilton too. He can keep the " I'm 40, I'm a man" coach too.
 
#22
#22
Was picking up lunch and had Rush L on. He says that the whole economic mess is all the Democrats' fault, and particularly Bill Clinton. He doesn't really have a reason, other than to say its because the U.S. set up ways for too many poor people to buy houses they can't afford and that its the Democrats' fault for championing such programs.

He really at this point is just pure propaganda. Its almost laughable.
 
#23
#23
lawgator1 said:
Was picking up lunch and had Rush L on. He says that the whole economic mess is all the Democrats' fault, and particularly Bill Clinton. He doesn't really have a reason, other than to say its because the U.S. set up ways for too many poor people to buy houses they can't afford and that its the Democrats' fault for championing such programs.

He really at this point is just pure propaganda. Its almost laughable.
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I don't really agree. I point my finger at Greenspan.

FT.com / Comment & analysis / Comment - Greenspan?s sins return to haunt us
 
#25
#25
lawgator1 said:
Was picking up lunch and had Rush L on. He says that the whole economic mess is all the Democrats' fault, and particularly Bill Clinton. He doesn't really have a reason, other than to say its because the U.S. set up ways for too many poor people to buy houses they can't afford and that its the Democrats' fault for championing such programs.

He really at this point is just pure propaganda. Its almost laughable.
Click to expand...
some of it is laughable, but the poor people buying houses argument has some validity.

I don't know the average unit value of defaulting properties in this mess, but I bet it would shock you.

I'm not exonerating anyone for lax underwriting, but many of the loans out there were essentially jammed down throats by the FHA, Fannie and Freddie.
 
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