mmene

Champion Author
Houston
Posts:2,550 Points:581,470 Joined:May 2008
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Message Posted: Jul 5, 2009 7:59:14 PM
Dubai has no oil revenue at all, only Abu Dhabi does among the emirates.
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caddilac

Champion Author
Ontario
Posts:10,642 Points:1,158,080 Joined:Apr 2007
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Message Posted: Jul 5, 2009 3:56:18 PM
Crude may have slumped to $65.63 a barrel, but the price of gasoline hasn't followed along in that slump.
Someone is getting rich at our expense.
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nozzle46

Champion Author
Little Rock
Posts:2,463 Points:623,230 Joined:Jul 2006
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Message Posted: Jul 5, 2009 3:24:10 PM
Dubai is a strange country. They are spending money like crazy, have to have oil revenue, but have had to put off finishing some of the outlandish projects they have started. The best medicine for Dubai, etc. is to wean ourselves off oil.
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trcscout

Veteran Author
Georgia
Posts:284 Points:36,185 Joined:Feb 2009
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Message Posted: Jul 5, 2009 3:16:01 PM
let them starv then they will know how the rest of us live. Poor baby, poor baby, don't worry they will still make a BIG PROFIT.
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rgjoslin

Champion Author
Colorado Springs
Posts:3,475 Points:657,380 Joined:Sep 2008
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Message Posted: Jul 5, 2009 3:08:22 PM
It is going to get a lot worse before it gets better...
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GasholeMI

Champion Author
Lansing
Posts:5,269 Points:756,590 Joined:Jul 2008
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Message Posted: Jul 5, 2009 3:07:15 PM
Since when did they need $70/barrel and $55/barrel? In this economy, they should be happy with what they get.
We still need to drill in ANWR!
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saveongasNC

Champion Author
North Carolina
Posts:3,287 Points:720,250 Joined:Aug 2008
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Message Posted: Jul 5, 2009 3:05:48 PM
Buy less pay less.
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WCCurtis

Champion Author
San Bernardino
Posts:2,985 Points:915,165 Joined:Oct 2005
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Message Posted: Jul 5, 2009 2:52:00 PM
Prices should come down this week since the July 4th Holiday will be over.
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aarrrt

Champion Author
San Diego
Posts:2,980 Points:712,275 Joined:May 2008
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Message Posted: Jul 5, 2009 2:21:56 PM
I'm sure OPEC nations and the middle east really care about US unemployment rates, I say the Hell with them all.
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Sneakers55

Champion Author
Houston
Posts:31,936 Points:1,292,320 Joined:Nov 2005
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Message Posted: Jul 5, 2009 2:10:01 PM
nojsts wrote:
>high cost of oil and gas is what caused the economy to go into the toilet.
I'll quibble that. Too many home loans that should have never been written had a lot to do with it.
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lgwhitlock

Champion Author
Chico
Posts:2,809 Points:719,275 Joined:Jun 2008
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Message Posted: Jul 5, 2009 1:57:54 PM
They will have to feel the pain of the weak economy just like the rest of the world. I am sure they will more than make up for it when the economy recovers. Seems they should have saved money for a rainy day like the weak economy...
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dhnbBUG

Champion Author
Pennsylvania
Posts:2,621 Points:729,705 Joined:Apr 2008
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Message Posted: Jul 5, 2009 1:57:34 PM
If the Gulf produces about 20 percent of the world's oil, where does the other 80 percent come from?
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Bud122CA

Champion Author
California
Posts:2,950 Points:674,505 Joined:Jul 2008
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Message Posted: Jul 5, 2009 1:56:08 PM
Oil companies or OPEC will find or should I say USE any excuse they can to keep prices up.
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Hugo40

Champion Author
Kentucky
Posts:2,723 Points:647,010 Joined:Aug 2008
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Message Posted: Jul 5, 2009 1:55:56 PM
Welcome to the real world to the United Arabl Emirates along with Qatar and Kuwait. The rest of us had to live on a budget for a long time already.
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PDQBlues

Champion Author
San Diego
Posts:2,269 Points:500,375 Joined:Jan 2009
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Message Posted: Jul 5, 2009 1:55:29 PM
Keep those prices falling! Let the price fall to $20/barrel.
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psuray

All-Star Author
Hartford
Posts:919 Points:223,650 Joined:Feb 2009
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Message Posted: Jul 5, 2009 1:53:23 PM
boo hoo -poor planning
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day49

All-Star Author
Washington
Posts:932 Points:709,965 Joined:Apr 2007
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Message Posted: Jul 5, 2009 1:50:12 PM
They will have to cut back on their budget, just like I had to do. Too bad our government doesn't do the same.
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pigmanTX

Champion Author
Houston
Posts:1,281 Points:369,735 Joined:Nov 2008
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Message Posted: Jul 5, 2009 1:44:34 PM
Wrong post. My bad.
[Edited by: pigmanTX at 7/5/2009 3:45:19 PM EST]
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pigmanTX

Champion Author
Houston
Posts:1,281 Points:369,735 Joined:Nov 2008
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Message Posted: Jul 5, 2009 1:42:44 PM
I really do not care what the UAE and Kuwait need for their budgets. They do not care what I need for mine.
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Beboper

Champion Author
Virginia
Posts:3,747 Points:1,181,435 Joined:Oct 2005
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Message Posted: Jul 5, 2009 1:42:28 PM
poor poor things
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hauler43

Champion Author
Oakland
Posts:4,796 Points:1,851,520 Joined:Sep 2003
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Message Posted: Jul 5, 2009 1:42:28 PM
That's a big difference $70.00 and $55.00. Maybe them folks should cut back on some of their lavish lifestyle.
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ironbox_sara

Champion Author
Albany
Posts:4,691 Points:1,291,675 Joined:Mar 2006
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Message Posted: Jul 5, 2009 1:38:09 PM
The days of $70 a barrel are over.
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dks458

Sophomore Author
Boston
Posts:128 Points:333,480 Joined:Apr 2008
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Message Posted: Jul 5, 2009 1:33:01 PM
When there is no money to spend, buckle up and brace for a bumpy ride
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Panama Red

Champion Author
San Diego
Posts:6,171 Points:1,550,115 Joined:Jun 2004
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Message Posted: Jul 5, 2009 1:29:01 PM
I can't generate any sympathy for the oil producing nations; let them tighten their belts like the rest of us.
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MustangKen

Champion Author
Denver
Posts:3,765 Points:631,950 Joined:Apr 2007
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Message Posted: Jul 5, 2009 1:28:52 PM
poor babies...
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HEBster

Champion Author
Kentucky
Posts:3,918 Points:1,405,435 Joined:May 2006
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Message Posted: Jul 5, 2009 1:28:38 PM
Hmm...tightening belts in the Middle East-not gonna happen.
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fuelconscious

All-Star Author
Los Angeles
Posts:653 Points:233,005 Joined:Jan 2008
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Message Posted: Jul 5, 2009 1:26:10 PM
They should learn from California who spends lavishly and needless social programs.
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montytexas

Champion Author
Houston
Posts:1,204 Points:716,045 Joined:Jun 2006
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Message Posted: Jul 5, 2009 1:23:11 PM
Looks like they will have to "tighten up" their budgets...what a concept !!
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Kato51

Champion Author
Atlanta
Posts:2,819 Points:1,271,995 Joined:Jul 2005
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Message Posted: Jul 5, 2009 1:20:53 PM
I feel real bad for these sorry individuals that have been taking advantage of us for a long time. It's time some others felt the pinch of the bad economy.
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suzyq2007

Champion Author
Dallas
Posts:2,784 Points:774,250 Joined:Oct 2007
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Message Posted: Jul 5, 2009 1:20:11 PM
let them drink their oil.
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nojsts

Champion Author
St. Louis
Posts:14,043 Points:2,828,980 Joined:May 2002
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Message Posted: Jul 5, 2009 1:19:38 PM
high cost of oil and gas is what caused the economy to go into the toilet.
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Toppers

Champion Author
Atlanta
Posts:4,097 Points:1,497,390 Joined:Mar 2005
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Message Posted: Jul 5, 2009 1:19:14 PM
So sad for them as we've been in their neck of the woods twice fighting for freedom for their people...don't we deserve something in return...just a little bit??
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stevencr

All-Star Author
Ohio
Posts:732 Points:458,305 Joined:Mar 2009
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Message Posted: Jul 5, 2009 1:07:15 PM
It makes me feel really, really bad for them. They have all that oil and nobody wants to pay their asking price. I hope they drown in their darn oil.
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UncleCurt

Champion Author
Winnipeg
Posts:3,571 Points:552,135 Joined:Feb 2009
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Message Posted: Jul 5, 2009 12:11:40 PM
They should just accept that no one will pay unreasonable prices, nor can afford to and would rather conserve then buying.
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BazooQC

Champion Author
Montreal
Posts:4,736 Points:673,455 Joined:Oct 2008
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Message Posted: Jul 5, 2009 12:05:23 PM
My goodness, it seems they increased their spending when the barrel went from $20 to $70. Now they have debt that they can't pay unless the barrel is over $55. We are in trouble. They will cut back production if the price per barrel goes lower than their targeted prices.
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CLM06

Champion Author
Tampa
Posts:4,674 Points:1,110,265 Joined:Sep 2006
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Message Posted: Jul 5, 2009 12:03:15 PM
As long as gas prices are up unemployment will also stay up
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jimgraham

Champion Author
Akron
Posts:5,301 Points:1,002,225 Joined:Oct 2007
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Message Posted: Jul 5, 2009 12:01:13 PM
With "only" 20% of the market how do "they" control prices? Are we being subjected to a well orchestrated "disinformation campaign" by the greedy people that DO control prices?????
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Valricoslash

Champion Author
Tampa
Posts:1,758 Points:390,345 Joined:Nov 2008
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Message Posted: Jul 5, 2009 12:00:56 PM
They NEED $70 a barrel to balance their spending. Who cares about them. WE NEED $30 a barrel to get the price of gas down belwo $2 a gallon but that won't happen. What you need and what you get are two different things.
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beachbumCA

Champion Author
Riverside
Posts:4,033 Points:762,300 Joined:May 2008
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Message Posted: Jul 5, 2009 11:56:26 AM
The good old dollar just will not buy what it did a year ago.
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dabuzman

Champion Author
Seattle
Posts:3,789 Points:997,700 Joined:Apr 2006
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Message Posted: Jul 5, 2009 11:49:56 AM
Guess they best get set for crude will drop down to about the $40.00 a barrel. If they can't make any money at $55.00 or $70.00 a barrel it's about time the cut operating expense, just like ever one else has done.
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Ltdc

Champion Author
Long Island
Posts:2,357 Points:718,845 Joined:Jul 2007
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Message Posted: Jul 5, 2009 11:49:01 AM
I would have thought the Gulf produced more than 20%. I know the US is continually dropping in production.
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arvo87

Champion Author
New Mexico
Posts:2,940 Points:584,615 Joined:Jul 2008
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Message Posted: Jul 5, 2009 11:44:17 AM
I say buy it from Kuwait
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foxups

Champion Author
Toledo
Posts:3,252 Points:645,060 Joined:Feb 2004
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Message Posted: Jul 5, 2009 11:43:39 AM
sorry get used to it
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FordGuy48

Champion Author
Albuquerque
Posts:1,216 Points:469,190 Joined:Jul 2005
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Message Posted: Jul 5, 2009 11:43:37 AM
They have to pay for all that glitz over there!!
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no_monkey2002

Champion Author
Tallahassee
Posts:3,764 Points:1,119,210 Joined:Mar 2006
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Message Posted: Jul 5, 2009 11:41:17 AM
we need their oil...they will get all of our MONEY OPEC & UNIONS rule the world of business...
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roadkillGA

Champion Author
Georgia
Posts:3,382 Points:485,950 Joined:Jun 2008
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Message Posted: Jul 5, 2009 11:39:55 AM
Competion with China.
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skippypa

Champion Author
Hawaii
Posts:3,494 Points:759,165 Joined:Jun 2008
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Message Posted: Jul 5, 2009 11:39:00 AM
The OPEC nations out spent their revenues because they based it on the price of oil at a $150.00 a barrel. Now they just have to adjust their spending like the people in the United States.
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buggydeb

Champion Author
Florida
Posts:3,817 Points:718,190 Joined:Jun 2008
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Message Posted: Jul 5, 2009 11:38:13 AM
They are all about greed with their "gold lined" nation!
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LocalSpyGuy

Champion Author
Tampa
Posts:2,916 Points:609,390 Joined:Nov 2008
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Message Posted: Jul 5, 2009 11:34:04 AM
$70 a barrell? What were they doing a couple of years ago when oil was $35 a barrell?
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LuckyD43

Champion Author
Phoenix
Posts:14,364 Points:1,575,910 Joined:Apr 2005
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Message Posted: Jul 5, 2009 11:31:57 AM
"The United Arab Emirates requires oil at $70 a barrel to balance its current accounts" Don't they mean to fatten their already overstuffed wallets?
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