Oil Falls To 57$$ A Barrel – We are all going to die!

We are all going to die….well not just yet.

 

http://censys.org/wp-admin/post.php?action=edit&post=756

 

Why are oil prices dropping?

The price of oil this morning is $72 a barrel — half of what it was three months ago. Ashley Milne-Tyte looks into some factors influencing oil markets, including the disappearance of some speculators.

http://topics.nytimes.com/top/reference/timestopics/subjects/o/oil_petroleum_and_gasoline/index.html?excamp=GGBUoilprice&WT.srch=1&WT.mc_ev=click&WT.mc_id=BI-S-E-GG-NA-S-oil_price

Countries like Russia, Venezuela and Iran that were flush with rising oil revenue saw that change reflected in newly aggressive foreign policies. But some unexpected countries reaped benefits, as well as costs, from higher prices. Consider Germany. Although it imports virtually all its oil, it has prospered from extensive trade with a booming Russia and the Middle East. German exports to Russia grew 128 percent from 2001 to 2006. The high price of gas became an important issue in the presidential campaign. Senator John McCain in particular made energy a focus, proposing to suspend the gas tax during the summer. He also made fervent calls to expand domestic drilling for oil, while his opponent, Barack Obama, emphasized the need for alternative fuels. The surge in prices hit automakers hard, as sales of the truck-based models that had been Detroit’s most profitable product dropped sharply. Mass transit systems across the country reported a sharp increase in riders. As prices fell in the fall, the question facing Opec and car makers alike was whether those shifts would reverse, as they had in previous downturns, or whether a tipping point had been reached.

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Drill Here Drill Now     

      Drill Here Drill Now             

              Drill Here Drill Now

                                      Drill Here Drill Now                                                                 

                                                          Drill Here Drill Now

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