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$25/barrel oil, Gulf Oil CEO says $1/gal @ Pump

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http://www.bloomberg.com/apps/news?pid=20601087&sid=aIUEV3pCOJeo&refer=worldwide


U.S. Stocks Drop, Led by GM; Exxon Falls on $25 Crude Forecast
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By Elizabeth Stanton and Jeff Kearns
Dec. 4 (Bloomberg) -- U.S. stocks fell for the first time in three days, pushed down by concern General Motors Corp. may file for bankruptcy and a plunge in energy shares following Merrill Lynch & Co.’s prediction that oil will hit $25 a barrel.
GM lost 16 percent after a person familiar with the matter said the largest U.S. automaker is exploring a reorganization with workers, creditors and lenders. Southwestern Energy Co., EOG Resources Inc. and Exxon Mobil Corp. .......
 
hope so.....then SWA would be hurting and raise prices.....so would everyone else....then the airlines MAY start making money and everyone would be happy
 
And airlines will still cry they are lsing money and ask for paycuts, and like fools, we'll give them the paycuts necessary to pack their golden parachutes.
 
Analysts... hmmmph. Have they ever gotten it right?

Although I'd certainly be happy with $25/bbl oil prices, these are the same type of folks that predicted $170+/bbl oil.
 
...that's what demand destruction (and a rise in value of the US dollar) due to a global recession will get you.

In other unrelated news, a tall cup of Starbucks is again more expensive than a gallon of unleaded gasoline.
 
hope so.....then SWA would be hurting and raise prices.....so would everyone else....then the airlines MAY start making money and everyone would be happy
With gas that cheap, and raising airfares...my bet would be a staggering increase in highway traffic
 
Opec won't stand for this. They are pissed that it is not at 75bbl. They are having a meeting in a week or so to discus a third massive reduction in production. Some experts have said a cut of 3 million bbls a day will drive that price up. Funny thing is most of the OPEC countries can't cut production that much because of government budgeting. It's BS we have to deal with a cartel to run our country. Any new drilling or increased productions from non-opec countries will do nothing b/c opec will just cut that same amount. Look at the histroy, they have been doing that for some time.

It is great filling up my car for $25 again!
 
With gas that cheap, and raising airfares...my bet would be a staggering increase in highway traffic
As long as those airfares will sustain even $0.01 in profit...I welcome the suckers stuck in highway traffic. That would equal more seats for me when I want to fly somewhere. God knows we're losing every other perk...maybe non-revving will get easier.

Wishful thinking...
 

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