drifter7
Sitting right in front of you.
Joined: 05/18/2001
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Oil keeps dropping. Closed at $88.47 a barrel. Hurricane Ike demolished 28 oil platforms in the Gulf. Oil spill larger than the one that happened during Katrina. Yet gas prices continue to drop. This tells me that when gas prices rose in the wake of hurricanes in the past, that was just reason for spectators to artificially drive up prices and make millions. Now, with less demand and a economic slow down, storms no longer matter. Wierd.
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Mainecat
Nice Kitty OUCH!!!
Joined: 05/15/2001
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drifter7 wrote:Oil keeps dropping. Closed at $88.47 a barrel. Hurricane Ike demolished 28 oil platforms in the Gulf. Oil spill larger than the one that happened during Katrina. Yet gas prices continue to drop. This tells me that when gas prices rose in the wake of hurricanes in the past, that was just reason for spectators to artificially drive up prices and make millions. Now, with less demand and a economic slow down, storms no longer matter. Wierd.
storms never mattered for 100 years. Speculators are greedy bastids.
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SuZQ213
Ohio
Joined: 12/06/2003
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Yep, what Mainecat said. Also, it's the refineries being down that cause a problem. Did you know that oil platforms only find oil approximatly 5% of the time? It's worthwhile for them to drill though, because whatever the price of oil is at the time they do find oil, is what they file their asset claim at for that particular find.
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