In anticipation of Barry's "spendulous"package signing... - DFWstangs Forums
 
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post #1 of 21 (permalink) Old 02-17-2009, 08:04 AM Thread Starter
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In anticipation of Barry's "spendulous"package signing...

The market is down another 250+ points! Oh, boy!

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post #2 of 21 (permalink) Old 02-17-2009, 08:28 AM
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Not surprised . I think most people that are directly tied to this mess know Obama has no clue what he's doing and is shooting from the hip .
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post #3 of 21 (permalink) Old 02-17-2009, 08:35 AM
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Not surprised . I think most people that are directly tied to this mess know Obama has no clue what he's doing and is shooting from the hip .

At least his secretary of state is going a bang up job in Japan and in her handling of Iran and Israel.

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post #4 of 21 (permalink) Old 02-17-2009, 09:04 AM
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Oil is down also, currently trading at 34.99.
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post #5 of 21 (permalink) Old 02-17-2009, 09:07 AM
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Oil is down also, currently trading at 34.99.
And gas is up?

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Bullet sort of looses his grip when he factually gets his ass tore off.
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post #6 of 21 (permalink) Old 02-17-2009, 09:29 AM
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And gas is up?
a lot of refinerys are down for upgrades(new government regulations) I'm sure there is a little coincidence though by some oil and gas company's to keep price up for a better profit.

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post #7 of 21 (permalink) Old 02-17-2009, 09:53 AM Thread Starter
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a lot of refinerys are down for upgrades(new government regulations) I'm sure there is a little coincidence though by some oil and gas company's to keep price up for a better profit.
My wife works for a refiner, and you're right. In their defense, they took an ass whipping when oil was over $100.

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post #8 of 21 (permalink) Old 02-17-2009, 10:37 AM
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My wife works for a refiner, and you're right. In their defense, they took an ass whipping when oil was over $100.
I looked in my big ol sack of sympathy and just can't seem to find any!

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post #9 of 21 (permalink) Old 02-17-2009, 10:39 AM Thread Starter
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I looked in my big ol sack of sympathy and just can't seem to find any!
Sig check! The hoops refiners jump through for Uncle Sam are many...

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post #10 of 21 (permalink) Old 02-17-2009, 10:43 AM
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My wife works for a refiner, and you're right. In their defense, they took an ass whipping when oil was over $100.
You have got to be kidding. Please elaborate. All I saw when oil was $140 was record profits from all phases of oil production. And at the cost of our country's economy taking a tumble. They can pound sand for all I care, screw em.
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post #11 of 21 (permalink) Old 02-17-2009, 10:46 AM
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You have got to be kidding. Please elaborate. All I saw when oil was $140 was record profits from all phases of oil production. And at the cost of our country's economy taking a tumble. They can pound sand for all I care, screw em.
I think he is referring to the lack of maintenance when the refineries and such were operating at 105% for an extended time.

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post #12 of 21 (permalink) Old 02-17-2009, 10:49 AM
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Not surprised . I think most people that are directly tied to this mess know Obama has no clue what he's doing and is shooting from the hip .
I don't see how any person with any sort of intelligence can explain how pumping trillions of dollars that do not exist into the economy will spur the economy to grow. All we'll be doing is hitting a massive inflation. I would like to go back to the gold standard, but our economy is so fucked right now, I think that would put us on par with third-world countries.

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post #13 of 21 (permalink) Old 02-17-2009, 10:50 AM Thread Starter
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You have got to be kidding. Please elaborate. All I saw when oil was $140 was record profits from all phases of oil production. And at the cost of our country's economy taking a tumble. They can pound sand for all I care, screw em.
Obviously, you know nothing of the refining end. I'm not talking Exxon here, but refiners ONLY.

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post #14 of 21 (permalink) Old 02-17-2009, 10:57 AM
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Obviously, you know nothing of the refining end. I'm not talking Exxon here, but refiners ONLY.
I asked you to elaborate. During the price hikes, there was never any mention of refiners having a hard time keeping up with their bills. You're telling me they didn't make any money? Or that they were hurt more than the industries that rely on gasoline to transport their goods? Please. No sympathy here brother. Looks like they're doing fine to me, at least as well as any other industry in America. I could believe they're hurting now, since there are so many unemployed people that gasoline demand has dropped.
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post #15 of 21 (permalink) Old 02-17-2009, 11:02 AM Thread Starter
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I asked you to elaborate. During the price hikes, there was never any mention of refiners having a hard time keeping up with their bills. You're telling me they didn't make any money? Or that they were hurt more than the industries that rely on gasoline to transport their goods? Please. No sympathy here brother. Looks like they're doing fine to me, at least as well as any other industry in America. I could believe they're hurting now, since there are so many unemployed people that gasoline demand has dropped.
Higher priced oil is fine for them, but when it reaches that stratospheric level ($100+), their margins are squeezed to about nothing. It's easy enough to check out their profits for that stretch...I already know, because of my wife's involvement. They make more now with oil in the $35 area, than they do with it at $100. Crazy world, huh?

*edit- Gas was $3.80 when oil was $140, right? So why is gas $1.75 and oil is $35? Using percentages, it should be a around a $1. That 75 cents is where the retailers and refiners are making their money. In '99, oil was in the $10-$12 range, and premium for my J30 was $1. Oil companies did not do well, but the refiners did great.

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Last edited by Vertnut; 02-17-2009 at 11:12 AM.
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post #16 of 21 (permalink) Old 02-17-2009, 11:08 AM
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The market is down another 250+ points! Oh, boy!
you mean the Congressional Recovery Action Plan

Stand by or fight while Obama wages his war against capitalism...
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post #17 of 21 (permalink) Old 02-17-2009, 11:36 AM
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I asked you to elaborate. During the price hikes, there was never any mention of refiners having a hard time keeping up with their bills. You're telling me they didn't make any money? Or that they were hurt more than the industries that rely on gasoline to transport their goods?
http://www.star-telegram.com/ed_wall...y/1203800.html

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post #18 of 21 (permalink) Old 02-17-2009, 11:44 AM
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I like the "change" since he was elected...down 20%.
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post #19 of 21 (permalink) Old 02-17-2009, 12:03 PM
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I like the "change" since he was elected...down 20%.
Gas prices started going down long before he took office.
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post #20 of 21 (permalink) Old 02-17-2009, 01:04 PM Thread Starter
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Now the market is saying the drop today is due to investors thinking this turd of a stimulus package is not going to make much difference after all.

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post #21 of 21 (permalink) Old 02-17-2009, 01:25 PM
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Gas prices started going down long before he took office.
Go bake a cake or something, he is referring to the Dow Jones dropping, not the price of gasoline.

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