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Author Topic: Will $100+ Oil Be a Problem for the Economy? Back to Topics
mastermariner
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Texas

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Message Posted: Jul 26, 2013 12:17:31 PM

Higher Oil Prices Threaten Global Economy” – AP, March 10, 2011

This may be a headline of the distant past, but it was written at a time when crude oil traded just above $100/barrel. In fact, on March 10, 2011 crude oil ended the day at 102.58.

Oil above 100 usually captures the media’s attention one way or another. Some outlets consider it a sign of a strengthening economy, others a stone around the neck of car-driving consumers.

Interestingly, this time around, 105 oil hasn’t tickled the media’s reporting need yet.

Regardless of the media, there’s a worthwhile correlation between the S&P 500 and crude oil, and technical analysis suggests that crude oil prices are at an interesting junction.

The chart below plots the S&P 500 (^GSPC) against crude oil prices (NY Mercantile: CNQ13.NYM)
Visit CNBC for full article
REPLIES (newest first) Post a Reply
windup
Veteran Author Austin

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Message Posted: Jul 27, 2013 7:19:53 PM

Not if aliens land next week and share their technology with us.
bston
Champion Author Oklahoma City

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Message Posted: Jul 27, 2013 4:07:49 PM

Already has been & that's a yes to that question!
sciotosix
Champion Author Dayton

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Message Posted: Jul 27, 2013 11:58:30 AM

That's a dumb question.
dandvicb
Champion Author Bridgeport

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Message Posted: Jul 27, 2013 9:29:28 AM

It aldready is!!!!!

All about the SPECULATORS and Market Manipulation!!!

GREED!
car253
Champion Author Ohio

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Message Posted: Jul 27, 2013 9:05:27 AM

Dumb question!
auroraborealisOH
Sophomore Author Cincinnati

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Message Posted: Jul 27, 2013 8:59:35 AM

VMIJim: "The bottom line is that the Obama Administration has done nothing to control speculation or prices, reduce our dependence on foreign oil, or improve our economy."

No, the bottom line is that the pump price of gas is far more heavily influenced by the whims of speculators on the futures markets than it ever will be by environmental political policy.

If speculators' ability to gamble on the price of a barrel of oil is limited, the price of gas at the pump will drop, and it will become much more stable. Require speculators to take delivery of their investments, and you instantly solve half the problem of rising/volatile gas prices.
VMIJim
Champion Author Alabama

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Message Posted: Jul 27, 2013 8:24:31 AM

The bottom line is that the Obama Administration has done nothing to control speculation or prices, reduce our dependence on foreign oil, or improve our economy. The sole agenda of Obama is to cater to his tree hugging, stimulus sucking, union dominated, ultra liberal major contributors. As a result, we continue to be screwed at the pump, with our utilities, & with our taxes. Nothing will change as long as Obama is in office & controls the Senate. 2014 Elections are coming - stop this madness!!
Radar1992
Champion Author Virginia

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Message Posted: Jul 27, 2013 7:22:41 AM

News Flash, the effect is already happening....
Eugenian
Champion Author Oregon

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Message Posted: Jul 27, 2013 5:04:59 AM

Another good reason to wean ourselves from filthy fossil fuels.
Buickdriver7
Champion Author Ontario

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Message Posted: Jul 27, 2013 12:56:51 AM

It already is a problem...especially when it is greedy and unnecessary!
gcalleja
Champion Author Miami

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Message Posted: Jul 27, 2013 12:26:05 AM

No doubt about it.
Tekkersmom57
Champion Author Syracuse

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Message Posted: Jul 26, 2013 11:37:09 PM

Oil prices this high, is and has been a problem!!!

The speculators need to be reigned in!!!
tnfran
Champion Author Arizona

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Message Posted: Jul 26, 2013 10:29:54 PM

CNBC.... Wake up It already has.
Lugi1967
Champion Author Ohio

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Message Posted: Jul 26, 2013 9:19:09 PM

That is a no brainer
eyegotgas2
Champion Author British Columbia

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Message Posted: Jul 26, 2013 7:38:03 PM

Vehicle fuel should be recognized as an inflation expense.

With all of the increased production due to shale it makes you wonder how producers get away with inflating the price of gas.

What would gas prices be without the tar sands and shale gas?

We would all be dependent on the Middle East for fuel.
doyle16
Champion Author Florida

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Message Posted: Jul 26, 2013 6:43:19 PM

High cost is a problem on the economies and the personal consumer's wallet.
USMCturtlehead
Champion Author Lexington

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Message Posted: Jul 26, 2013 6:28:35 PM

It costs more at the pump so therefore the answer is yes it's a problem for economy.
TripleHs
Champion Author Austin

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Message Posted: Jul 26, 2013 6:23:25 PM

prices way too high
amerk73
Champion Author Dallas

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Message Posted: Jul 26, 2013 5:47:57 PM

need more drop
Rayfuel
All-Star Author Houston

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Message Posted: Jul 26, 2013 4:10:42 PM

All dealt with by supply and demand.
FluffyDogAttack
Champion Author Riverside

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Message Posted: Jul 26, 2013 3:00:58 PM

What economy?
Zeke33
Champion Author New Hampshire

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Message Posted: Jul 26, 2013 2:31:08 PM

Will be a problem? The economy is already feeling the effects and has for some time.
nybearhunter
Champion Author New York

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Message Posted: Jul 26, 2013 2:25:53 PM

your kidding right? nobody can be that out of touch.
bwatchingu
Champion Author Arkansas

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Message Posted: Jul 26, 2013 2:12:15 PM

Already is a problem for most americans.
jalan25
Champion Author Indianapolis

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Message Posted: Jul 26, 2013 2:07:39 PM

The increased prices will affect the economy.
Taxrefugee
Champion Author Arizona

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Message Posted: Jul 26, 2013 1:48:34 PM

Higher prices usually are for a widely used commodity
lilyrpi
Rookie Author Massachusetts

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Message Posted: Jul 26, 2013 1:10:16 PM

quite interesting news story. learned about this in class
humblepie
Champion Author Toledo

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Message Posted: Jul 26, 2013 1:03:52 PM

just deal with it and move on
Zuegma
Champion Author Nova Scotia

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Message Posted: Jul 26, 2013 12:52:07 PM

The cost of fuels does impact a lot more than just at the gas pump; it also edges up all delivered goods.
But I'm not sure at all that it's "THE" trigger for stock market upheavals. It's nice to draw trend lines on the past, but even then, the rises of falls frequently are difficult to decipher the or all of the causes.
evowner
Champion Author Salem

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Message Posted: Jul 26, 2013 12:42:14 PM

Substitute EV's for as much driving as possible. Decrease the fossil fuel demand and eliminate pollution too.
jamofsocal
Champion Author Los Angeles

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Message Posted: Jul 26, 2013 12:41:48 PM

It is a problem NOW!!
djwhit
Champion Author Ohio

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Message Posted: Jul 26, 2013 12:41:11 PM

YES IT IS..........
fuel2use
Champion Author Seattle

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Message Posted: Jul 26, 2013 12:29:45 PM

Yes.
mastermariner
Champion Author Texas

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Message Posted: Jul 26, 2013 12:24:50 PM

Its like ever thing else when the cost of living rises you adjust your budget or way off life and continue on.
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