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One day it's Greece, the next day it's Spain: oil tumbles

GasBuddy Blog -- Crude oil is set to take a beating, nay, is already taking a beating, as traders get jittery looking at Spain's debt issues. A few weeks ago we might have cited Greece's outlook for the lapse in prices, but today, and in recent days, Spain is becoming the target of new concern.

Increasing economic activity promotes higher crude oil and gasoline prices. Why? We use more of the stuff when the economy is good. With the situation in the European Union, the massive debt, the insanely low retirement age with massive pensions, the shorter work week- the debt is mounting. And it certainly could impact the United States, especially as this country continues to increase its debt burden by doing many of the same things- overspending. And while...


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Submitted Jul 23, 2012 By: PD
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Author Topic: One day it's Greece, the next day it's Spain: oil tumbles Back to Topics
REPLIES (newest first) Post a Reply
Vette1967
Champion Author Albany

Posts:9,195
Points:2,050,670
Joined:Jun 2009
Message Posted: Jul 30, 2012 11:26:20 AM

Don't care about the price of a barrel of oil anymore!!! It doesn't matter what it is when pricing the cost of gasoline.
SUPERQUACK
Champion Author Sacramento

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Points:2,557,355
Joined:Jun 2007
Message Posted: Jul 30, 2012 10:50:32 AM

WHY ALL THE WORRY ....... THESE COUNTRIES ARE SMALLER THAN MOST OF OUR STATES , AND ADD LITTLE TO OUR ECONOMY. LETS GET GOING RIGHT HERE !!!!!!!!!!!
albert2008
Champion Author Winnipeg

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Message Posted: Jul 30, 2012 8:16:47 AM

but prices at the pump dont tumble
skinsfan125
Champion Author Virginia

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Message Posted: Jul 29, 2012 12:05:00 PM

whatever
stonecold5005
All-Star Author Waco

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Message Posted: Jul 29, 2012 10:07:17 AM

ok
honda0105
Champion Author Tallahassee

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Message Posted: Jul 26, 2012 4:57:40 AM

CapriceW: I argue that consumer debt is even more dangerous right now than governmental debt.
honda0105
Champion Author Tallahassee

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Message Posted: Jul 26, 2012 4:57:10 AM

one excuse today, the next day it's another.
CapriceWagon
Champion Author Washington

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Message Posted: Jul 25, 2012 11:15:23 AM

And yet we refuse to look at the facts: if we continue to spend like we are, we'll be in the same boat as the europeans, only much, much worse. Does no one else think it's a problem that we've added $5 trillion to the already massive national deficit with no sign of turning around in the last three years? If you think 2008 was a recession, just wait, this is going to blow up in the whole world's face.
SUV2009
Champion Author Orlando

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Message Posted: Jul 24, 2012 4:38:22 PM

ok
txrojo2005
Champion Author Austin

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Message Posted: Jul 24, 2012 3:00:41 PM

Yep. Here we go again.
txrojo2005
Champion Author Austin

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Message Posted: Jul 24, 2012 3:00:30 PM

Yep. Here we go again.
VanIsleLes
All-Star Author British Columbia

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Message Posted: Jul 24, 2012 2:50:32 PM

Same pile, another day
BIGOILEATURCRUD
Champion Author North Carolina

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Message Posted: Jul 24, 2012 1:38:09 PM

kyrunner

Ever heard the phrase "sounds like a broken record"?
h2ojumper
Champion Author Austin

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Message Posted: Jul 24, 2012 1:25:52 PM

ok
abacus44
Champion Author Toms River

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Message Posted: Jul 24, 2012 12:13:20 PM

They're not going to resolve their issues anytime soon
Buck_on_Bass
Champion Author Tennessee

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Message Posted: Jul 24, 2012 8:56:04 AM

Just as the financial problems in the US affected Europe, so will the European financial problems affect the US.
Coben
Champion Author York

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Message Posted: Jul 24, 2012 8:19:05 AM

One by one they fell. Victims of their populaces greed in voting themselves money from the publics coffers. (I.E. Welfare and whatever else takes from the populace and gives to others)

Then, arising from the ashes, like a Phoenix, the New World Order. Here you will be told what to do, when to do it and how to do it. Creativity is stiffled, no rights, and no respect. Only the rulers have privlidge, the common worker (everyone that doesn't rule or have land/wealth) has no life.

It's coming. Soon. In your lifetime.

Better vote ANYONE but obama in november!
TA33
Champion Author Massachusetts

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Message Posted: Jul 24, 2012 8:09:45 AM

Our turn is coming....
The3rd
Champion Author Jacksonville

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Message Posted: Jul 24, 2012 8:02:34 AM

especially as this country continues to increase its debt burden by Barry remaining in office
kyrunner
Champion Author Lexington

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Message Posted: Jul 24, 2012 8:01:50 AM

The trouble with socialism is you eventually run out of other peoples money. They socialist countries are learning this lesson the hard way. If we continue on our current economic plan we will be these countries very soon.
OldMan322
Champion Author Illinois

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Message Posted: Jul 24, 2012 8:01:48 AM

And the price of fuel go UP, UP and away
Jamer
Champion Author Las Vegas

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Message Posted: Jul 24, 2012 8:01:28 AM

....and the roller coaster ride continues.
keithyoon1977
Champion Author Virginia

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Message Posted: Jul 24, 2012 8:01:19 AM

Ok
JENNYHK
Champion Author Chicago

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Message Posted: Jul 24, 2012 8:01:19 AM

ok.
goldseeker
Champion Author West Virginia

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Message Posted: Jul 24, 2012 8:00:56 AM

Too bad.
daquanabe
Champion Author Houston

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Message Posted: Jul 24, 2012 8:00:47 AM

whatever
Liefhebber
Champion Author Chicago

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Message Posted: Jul 24, 2012 8:00:43 AM

Whatever (almost) works . . . .
mrservonics
Champion Author Boston

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Message Posted: Jul 24, 2012 8:00:06 AM

Shameful!
CharlieC08
Champion Author Colorado

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Message Posted: Jul 24, 2012 7:58:27 AM

And this is what Obummer wants?
Soglaos
Champion Author Virginia Beach

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Message Posted: Jul 24, 2012 7:57:59 AM

Ok
ec951
All-Star Author Riverside

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Message Posted: Jul 24, 2012 7:57:55 AM

Ok.
teatiger
Champion Author Dallas

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Message Posted: Jul 24, 2012 7:57:17 AM

no pity here
Ticobird
Champion Author Huntsville

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Message Posted: Jul 24, 2012 7:57:14 AM

This present economic ride looks to be a 100 mile stretch of bad road.
bmsgolf
Champion Author Amarillo

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Message Posted: Jul 24, 2012 7:56:55 AM

Bet gas doesn't take a beating.
SaturnSC
Champion Author Columbus

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Message Posted: Jul 24, 2012 7:56:06 AM

But gas prices will stay high
craigsf38
Champion Author Rochester

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Message Posted: Jul 24, 2012 7:55:50 AM

Any excuse to buy or sell contracts is a a reason for some to try to make money. it seems foolish to me
SUSANCK
Champion Author Chicago

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Message Posted: Jul 24, 2012 7:54:57 AM

ok.
DerTaubman
Champion Author Detroit

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Message Posted: Jul 24, 2012 7:54:53 AM

Not seeing it at the pump here.
gws2980
Champion Author Philadelphia

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Message Posted: Jul 24, 2012 7:54:44 AM

Fine
Ebaz
Champion Author Oklahoma City

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Message Posted: Jul 24, 2012 7:54:16 AM

House of cards
RochBear
Champion Author Minnesota

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Message Posted: Jul 24, 2012 7:53:01 AM

And the USA is only 5-6 years behind Greece!
Hop1LA
Champion Author Baton Rouge

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Message Posted: Jul 24, 2012 7:51:47 AM

...tensions in the Middle East, oil prices rise.
yelobus
Champion Author Houston

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Message Posted: Jul 24, 2012 7:51:28 AM

Ok. Gas prices to go up.
TheSicilian
Champion Author Jacksonville

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Message Posted: Jul 24, 2012 7:51:22 AM

lets see it at the pumps
14smoke08
Sophomore Author Montreal

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Joined:Jul 2012
Message Posted: Jul 24, 2012 7:50:22 AM

Our gas prices just rose last night.
survken
Champion Author Indiana

Posts:5,100
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Joined:Jul 2010
Message Posted: Jul 24, 2012 7:50:16 AM

I would hardly describe it as "tumbles"
ZeroBoxes
Champion Author Mississippi

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Joined:Apr 2012
Message Posted: Jul 24, 2012 7:49:59 AM

So, Europe sneezes and we get a hot bath...or not...
sailfreeMI
Champion Author Michigan

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Message Posted: Jul 24, 2012 7:49:18 AM

Don't look now but we are headed the way of Greece and Spain.
leraar2
Champion Author Massachusetts

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Message Posted: Jul 24, 2012 7:49:00 AM

and after that, Italy.
Badmoon
Champion Author Massachusetts

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Joined:Oct 2008
Message Posted: Jul 24, 2012 7:48:54 AM

Traders are betting on economic increases a year or two out and get scared off when they hear another bad news story. With the paper market around 14 times larger than the physical market it moves the needle that much further in either direction. Wall street is out of control!
tbgasmizer
Champion Author Ontario

Posts:6,053
Points:1,231,220
Joined:Oct 2009
Message Posted: Jul 24, 2012 7:48:26 AM

Gas prices are whats causing all this.
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