Cubs2k

Oil tanked (no pun!) this week........

I know Bill commented a few weeks ago about oil coming down and that the spike YTD showed signs of a classic bubble.......(I agreed )

SO......are we hanging here or do we have a bit more to go down (or up )

Thoughts?

NH_s2k_Guy

One can only hope!!!

I guess I'll put off my oil delivery for a bit.

Cubs2k

Hopefully, Oil will fall faster than my home value!!

Thank gawd I bought before it got really nutz.....

Lainey

that it continues to move DOWN! I think we have plenty of room for more cuts in the cost of a barrel of oil. Although I understand the supply and demand thing, from the beginning I have felt that most of the increase in cost was total . They pushed and pushed until they decided we (average consumer) can't take it anymore. Maybe some day we'll get back to $3.00/gallon gas, we'll think it's great, and IMHO, that is what they wanted all along.

My non cynical opinion, is that once the price of gas goes down, consumer confidence will go up, people might just have a few dollars to spend on things besides filing up their gas tank, and we might just see an improved economy.

NH_s2k_Guy

I've given enough cynical opinions for one day so I'll refrain.

Lainey

Cubs2k

Lower prices may certainly help retailers out especially near the holidays.....which may be a critical component to FOMC policy......I'm thinking the Fed is going to tighten (raise rates) in Q1 2009......(I reserve the right to chang my opinion)

No doubt there are demand influences that are impacting oil, however I think current oil pricing seems to be more influenced by futures speculation than an actual supply/demand scenerio.

I think consumer confidence SHOULD stay low however....plan for bad...and when it doesn't come, SAVE! I think there needs to be an adjustment in the psyche of the populace about what is normal.....

Only millionaires can spend like millionaires.......

NH_s2k_Guy

I'd rather be a cynic and wrong and be pleasantly surprised than optimistic and disappointed.

Cubs2k

I like to be right and my expectations correct!

sadly.....

Lainey

And how does Mrs. Cubby feel about you always wanting to be right?