$100 A Barrel Oil is on the Way

#652
#652
I drive a truck 5 days a week between Knoxville and Charlotte, NC. I have yet to see the price of gas affect travel. Traffic patterns and density through Knoxville, Asheville, and Charlotte are unchanged since before Hurricane Katrina.

Dollywood has reportedly seen a 31% decrease in attendance so far this season, but the wet and unseasonably cold weather could be at play for at least part of that.

Jevic Transportation, a medium sized LTL carrier recently suspended operations and declared bankruptcy. It's owner, Sun Capital, cited high fuel costs and an economic downturn.
 
#655
#655
myrobbins what is the cause for oil futures to be down so much today? do you think that this is gonna be a consistent thing? right now its at 128.93 a barrel.
 
#658
#658
I find it kind of cool that the thread title is now hopeful rather than gloom and doom. :p
 
#660
#660
wylievol said:
myrobbins what is the cause for oil futures to be down so much today? do you think that this is gonna be a consistent thing? right now its at 128.93 a barrel.
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To me it seems like it was profit taking today (smart). To put it in Wall Street gibberish terms, the dollar rose, technical weakness and demand concerns. The big boys might be just shaking the weak hands out right now. I don't think Goldman will be happy untill Oil hits $200.
 
#661
#661
myrobbins7 said:
To me it seems like it was profit taking today (smart). To put it in Wall Street gibberish terms, the dollar rose, technical weakness and demand concerns. The big boys might be just shaking the weak hands out right now. I don't think Goldman will be happy untill Oil hits $200.
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You're the expert, how much of a role does speculation play? From what I've read, they're buying it left and right due to supply concerns.
 
#664
#664
myrobbins7 said:
To me it seems like it was profit taking today (smart). To put it in Wall Street gibberish terms, the dollar rose, technical weakness and demand concerns. The big boys might be just shaking the weak hands out right now. I don't think Goldman will be happy untill Oil hits $200.
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:no:
 
#665
#665
It is the same crap all over again.... make the speed limits 55, conserve fuel! Help the environment!

This same crap happened 30 years ago!
 
#667
#667
volsforever27 said:
You're the expert, how much of a role does speculation play? From what I've read, they're buying it left and right due to supply concerns.
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I wouldn't say im the expert. Droski is the expert at this stuff, he does it for a living. I do it for a living also (part time) among other things. Speculation is playing a role I would say. It's kind of like the "IN" thing to do on Wall Street I guess, kind of like the dot.com era.
 
#673
#673
myrobbins do you think that this was just a one day deal or do you believe that it is gonna start falling, like do you think oil has peaked?
 
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