Anyone shocked that cruid oil prices took asharp 7 % price drop?

Question

and do you think it could be good or detimental to economic growth and im not talking about just the us economy.

Answer 1

It's just going to go back up again...it always does... :(

I'm glad I drive a honda civic!

Answer 2

I'm happy for 2 reasons one that me and everyone has suffered long enough and two may those criminal speculators get whats coming

Answer 3

No < I see more price decreases, the Republicans are in deep trouble , there will be an attempt to manipulate it down before the election. Dont get excite dit will go back up no matter who wins, but for different reasons.

Answer 4

It just goes to show that there's no reason why the price of oil has to be this high. Take a look at the following quote from this yahoo news story: http://news.yahoo.com/s/ap/20080716/ap_o...

"Oil prices settled sharply lower for the second time in a row Wednesday, leaving crude more than $10 cheaper in just two days of frenzied trading and prompting speculation that the hard-charging market may be running out of steam."

See that? It's all about speculation! If the economy seems fit enough to handle a gasoline cost increase, those ruthless oil tyrants will gladly raise the price. It is only until after we, the innocent citizens, are forced to endure this financial torture so horrifically, that those greedy tycoons finally realize the stupidity and selfishness of their actions, and the woes that those actions have cost.