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Author Topic: Oil falls near $88, eyes on 'cliff' negotiations Back to Topics
85XJ
Champion Author
Toledo

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Message Posted: Dec 4, 2012 1:49:44 PM

NEW YORK — Worries over the looming “fiscal cliff” and the health of the U.S. economy are driving oil prices lower Tuesday.

Benchmark crude is down 94 cents to $88.15 just after 10 a.m. in New York.

U.S. lawmakers have less than a month to reach a compromise to avoid a series of sharp tax increases and spending cuts that take effect in January. And on Monday, there was a sign that the failure to reach a deal is having a concrete effect on the economy.

U.S. manufacturing shrank in November to its weakest level since July 2009, the Institute of Supply Management said, brought on by the impact of Superstorm Sandy and worries over the fiscal cliff.
Visit Toledo Blade / ASSOCIATED PRESS for full article
REPLIES (newest first) Post a Reply
DrCashFlow
Champion Author Massachusetts

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Message Posted: Dec 6, 2012 1:39:52 AM

noise
BEGTWO
Champion Author Maryland

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Message Posted: Dec 5, 2012 6:55:34 AM

That doesn't surprise me!
alterman156
Champion Author New York

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Message Posted: Dec 5, 2012 1:53:42 AM

Will oil drop below $80 per barrel?
iFueler
Champion Author Durham

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Message Posted: Dec 5, 2012 1:39:41 AM

will this show up at the pump before going back up
RonElp
All-Star Author El Paso

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Message Posted: Dec 5, 2012 1:29:08 AM

Hope speculators loose big time.
leeac
Champion Author Ohio

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Message Posted: Dec 5, 2012 1:12:57 AM

This is short term. Price is moving up.
andy1024
Champion Author Allentown

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Message Posted: Dec 4, 2012 11:22:09 PM

Need more reasons to keep the price down.
esq262
Champion Author Asheville

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Message Posted: Dec 4, 2012 10:01:43 PM

Let's see it at he pump.
MidNJ
Champion Author New Jersey

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Message Posted: Dec 4, 2012 9:21:00 PM

Discovery02, I agree with your post;

"The Fiscal Cliff is just one symptom of the real problem which is a dysfunctional Congress which, if these guys were in the private sector, would've been fired for inefficiency long ago."

Well said!
jjjleblanc
Champion Author Rochester

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Message Posted: Dec 4, 2012 9:11:56 PM

It'll turn at the hint of good news.
eomc17
Champion Author Tucson

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Message Posted: Dec 4, 2012 8:32:00 PM

Oil and gas are still WAY OVERPRICED!!!
csblesson
Champion Author Texas

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Message Posted: Dec 4, 2012 7:25:05 PM

Not much change in the gas station
molebaby96
Champion Author Tallahassee

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Message Posted: Dec 4, 2012 7:19:58 PM

Need to fall at the pump.
PathfinderSC
Champion Author South Carolina

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Message Posted: Dec 4, 2012 7:07:31 PM

keep dropping.
wz
Champion Author Twin Cities

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Message Posted: Dec 4, 2012 6:55:38 PM

Republicans should let Obama take us over the "fiscal cliff" and pin the economic collapse on the Democrats. Their biggest mistake was the timing. The cliff should have been set for last year, so the public could react in November.
tnfran
Champion Author Arizona

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Message Posted: Dec 4, 2012 6:45:39 PM

But.....will it affect consumer pricing??
TomT2Lee
Champion Author Cincinnati

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Message Posted: Dec 4, 2012 6:24:30 PM

Have you noticed that the media believes that America would not exist without the professional politicians and government? Hopefully it will not be to late to save a little of America when the masses snap out of their brainwashed stupor.
playtimeCLE
Champion Author Cleveland

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Message Posted: Dec 4, 2012 6:23:41 PM

Its good to see the price drop some.
hrjjml
All-Star Author Florida

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Message Posted: Dec 4, 2012 6:22:50 PM

Obummer will blame Bush again
rjojo40
Champion Author Las Vegas

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Message Posted: Dec 4, 2012 6:16:29 PM

seems like the brother hood is over.
bcline909
Veteran Author Virginia

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Message Posted: Dec 4, 2012 5:59:48 PM

let us see
Juicy1177
Veteran Author Gary

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Message Posted: Dec 4, 2012 5:57:45 PM

ouch
Taxrefugee
Champion Author Arizona

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Message Posted: Dec 4, 2012 5:16:36 PM

Maybe also due to the higher production cited in an article just above this one.
YumaFellow
Champion Author Arizona

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Message Posted: Dec 4, 2012 5:09:49 PM

Just more game playing by the speculators; you might just as well ride on wind speed and direction as indicators!
cmmattia
Champion Author Long Island

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Message Posted: Dec 4, 2012 5:00:25 PM

the fiscal cliff is real scary :(
67CTD
All-Star Author Tucson

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Message Posted: Dec 4, 2012 4:29:07 PM

another sign that this great country is going down the crapper. Good job washington!
humblepie
Champion Author Toledo

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Message Posted: Dec 4, 2012 4:16:15 PM

as the obama's plan a hawaii christams vacation
that will cost tax payers millions and millions
he needs everyone to "pay a lil more" to cover it
gizbo123
Champion Author Los Angeles

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Message Posted: Dec 4, 2012 4:10:20 PM

You do not want a Gov without checks and balances or we get marxism from the democrats. I never see dems compromise, it is only republicans that bend to the democrat marxist views.
JCUBE
Champion Author Michigan

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Message Posted: Dec 4, 2012 3:59:22 PM

The rotten gabage running Greedway just upped prices .20-.25/ gal. this afternoon
heydano67
Champion Author California

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Message Posted: Dec 4, 2012 3:59:07 PM

I'd like to see imported oil go off a cliff.
Vetteblu
Champion Author Denver

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Message Posted: Dec 4, 2012 3:45:31 PM

And yet we still pay over $3 & $4 per gallon, while a short time ago at that per barrel price we paying closer to $2. Hope sometime the greedy will get it stuck to them.
Discovery02
Champion Author Colorado Springs

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Message Posted: Dec 4, 2012 3:17:14 PM

The Fiscal Cliff is just one symptom of the real problem which is a dysfunctional Congress which, if these guys were in the private sector, would've been fired for inefficiency long ago.
Van_Halen
Champion Author Atlanta

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Message Posted: Dec 4, 2012 3:14:54 PM

.
First there is no Cliff, just something made up by the Dumbocrats to create a FALSE Crisis.

Second they are no tax cuts that are expiring or tax breaks, as taxes were never cut, their amount was adjust temporarily which is stupid, they should have been permanent adjustments that should have needed completely new laws to adjust again which would make sure the Dumbocrats couldn't create another false crisis!
WildmanMick
Veteran Author North Carolina

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Message Posted: Dec 4, 2012 3:08:10 PM

If the tax cuts expire, we will not use the "surplus" to pay down any debt. We will go deeper in debt with a new stimulus. Elections have consequences while the murder of four Americans in Benghazi, it seems, does not.

Forward.... into the abyss...
Rockyguitar
Champion Author Tampa

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Message Posted: Dec 4, 2012 2:14:53 PM

Cliff or not, the press will blame Republicans for either obstructing or caving............just wait.
bwp9970
Veteran Author Alabama

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Message Posted: Dec 4, 2012 2:04:10 PM

We need to let the tax cuts expire and start paying down our national debt. Sure it may hurt, but I would like to have a country for them, instead of a bankrupt one! Then let the oil prices fall as they may!
djwhit
Champion Author Ohio

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Message Posted: Dec 4, 2012 1:59:08 PM

THATS IS BULL, THE OIL CO's KNOW THAT......THEY HAVE THE PRICE UP OVER THE GAL. OF 1.00 MORE THEY IT SHOLD BE......IT IS GREED....GREED.....GREED.....THEY DON'T CARE ABOUT THE PEOPLE.......
85XJ
Champion Author Toledo

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Message Posted: Dec 4, 2012 1:50:29 PM

Of course, gasoline prices are on the rise here.
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