Coming Soon to a Gas Station Pump Near You … Oil drops below $52 a Barrel


So much for the theory that the price of oil only declined because President Bush and Carl OilRove wanted to win the midterm elections for Republicans. Turns out that nature actually has more of an effect on the price of oil than an Rovian conspiracy.

NEW YORK (AP) — Oil plunged below $52 a barrel Thursday to its lowest price since May extending a sharp decline that has been led by dampened heating oil demand, but which could save consumers money on a more widely used fuel: gasoline.
Crude oil has tumbled by 15 percent so far this year in a huge sell- off that was kicked off by investment funds last year, and then stoked by a historically warm U.S. winter that has left supplies of heating fuel barely touched.

Posted January 11, 2007 by
Energy | 6 comments

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  • Comments

    6 Responses to “Coming Soon to a Gas Station Pump Near You … Oil drops below $52 a Barrel”

    1. kay zee ess on January 11th, 2007 10:13 pm

      How exiting to see the price of oil “plummet”, while here in the Windy City our very own ComEd is raising the price of electricity by a hefty 25 PERCENT!

      Oil well, that’s life in the big city!

    2. yoyo muffintop on January 11th, 2007 11:49 pm

      Pelosi will take credit for it.
      Hey Al – see global warming ain’t that bad, we’re using less heating oil and it’s bringin’ the price of gas down. Oil well, Gotta go fire up the Hummer and get a pack of smokes…

    3. Scrapiron on January 12th, 2007 12:47 am

      Actually I think a bunch of billionaire’s bought up the oil futures to drive the price up for the dhimmi’s attempt to win elections. Now the bottom has fallen out worldwide and a lot of billionaire’s will end up as millionaires. Somewhere there’s an insurenace exacutive that is sweating ball bearings. Wonder how much he ripped off from the investors for his scheme?

    4. Miss-Underestimated on January 12th, 2007 8:15 am

      How could that be? There still is a war!!!!!!

    5. Mortella on January 14th, 2007 3:31 pm

      Stock market closes at a record high. Unemployment at all time sustained low. Oil drops below now $51. Budget deficit lowest in four years, since 9-11.

      It’s all Bush’s fault!! So where is the liberal media? They sure won’t cover this! Not in keeping with their big agenda for 2008 already in play.

      Besides, they have really important things to be voting on like TAX-funding for stem cell research. Anything to kill the unborn. The faster we can be over-run that way, too. You’d think the could address things that are truly important before launching their attack on human embryos but this is the only real issue that belongs to the Democrats.

      And they are counting on us not to wonder why if this stem cell research is such a sure and good thing, there are not private companies clamoring for the research rights. That’s because it is junk science and not likely to net very much of anything and there are ample sources available without touching so much as one unborn.

      Taking off to watch the football games after all that blather about the first 100 hours was also revealing that they don’t really mean anything they say. They just want to feel good while saying it.

      It’s all about feelings with the liberals.

    6. Lou on October 28th, 2008 9:23 am

      Over a year on and more peaks and falls in petrol prices in the UK alone. Luckily it has fallen in the last few weeks as a gallon of petrol was extorniate.

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