Oil is flying high again this morning over another kidnapping in Nigeria »
Posted By universal12 1 year, 3 months ago in NewsOil is flying high again this morning over another kidnapping in Nigeria. Since the fundamentals are being ignored at this point (see oil report review comments below) hype and technicals are 100% in charge. Crude looks as though it's hell bent for $75
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Comments So Far: 19
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universal121 year, 3 months ago
Oil seems to be the most talked about commodity. I guess due to all the lack of oil and trouble that it causes.
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Daylight1 year, 3 months ago
"Oil is flying high again this morning over another kidnapping in Nigeria." That is what the oil companies are looking forward to, perhaps they may even employ people to kidnap people, greed has no bounds, only thing is life is too short. Third world countries are squeezed to death.
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Gangrene1 year, 3 months ago
This is something I'd like to know as well, do they really expect us to believe the whole kidnapping thing?
Why no name, why no other information about it in the story?
My opinion is they lowered prices prior to the 4th to encourage roadway travel, then shot it back up for the return trip. Besides that point I honestly don't see how a kidnapping in Nigeria would have such an effect on the global fuel situation.
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klindt1 year, 3 months ago
Iraq was not about getting 10,000,000 barrels a day of oil, it was about keeping it off the global market.
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Teech1 year, 3 months ago
"Americans stayed home in droves over the holiday weekend. Oil companies had anticipated much higher gasoline consumption. To make up for lost revenues, gas prices will be increased 20 to 30 cents per gallon."
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AmericanIdiot1 year, 3 months ago
Iraq was not about getting 10,000,000 barrels a day of oil, it was about keeping off the global market.
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100% correct. See Greg Palast, Armed Madhouse, for details, maps and other proofs.
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HMMace1 year, 3 months ago
Th eoil companys will use any excuse to raise prices, they are ripping us off, and as long as Bush-Cheny nake money off of oil it will go in...When WW2 started, Roosevelt froze all prices, so no one could profit from the war..why hasn't Bush done that? Easy answer, they are in the oil business..They are as crooked as cork screws...they are so low, they look up to see snakes eyes...We must - NEVER RE ELECT ANY POLITICIAN-EVER...
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Dagucci1 year, 3 months ago
When are you people going to educate yourselves??? The oil companies or the president does not control oil prices... OPEC does. I didn't hear anyone crying about the oil companies ten years ago when oil was $10.00 a barrel and there was no jobs.
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Harbeas1 year, 3 months ago
Economics is a psuedoscience. So if someone is kidnapped economics says this "should happen". Bullcrappo!
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UBCONFUSE1 year, 3 months ago
Another prime example of how hedge funds and commodity traders wreak havoc in the oil market. The US Government should ban all trading in oil futures. The kidnapping of a child in Niger has no effect on oil supply and for that matter even the death of all OPEC members by a terrorist.
Hurricane Katrina had a small effect on refined distillates but when you drove your car in for a fill up, you could buy all you wanted. Net effect, oil traders made a fortune from hype.
If you take out the traders, oil prices would drop to under $30 per barrel.
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getreal11 year, 3 months ago
I get tired of hearing their reasons for upping the price. We need a march on Washington to get the message that we the people want to use new ways of powering our vehicles. That do not pollute and Stop the money Traps. Only till then will their be some peace. Here any way
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