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Old 11-05-2008, 08:10 AM
 
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Do you think we'll see gas prices immediately head north now that Obama's been elected?
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Old 11-05-2008, 08:17 AM
 
Location: Kansas
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Well yesterday there was a jump in the price of crude. But that was well before the election was over. If the stock market and general prosparity start to be on the rise....so will the price of crude. BUT...if we reduce demand like we have done over the last year it should level out. Right now we're at $70ish/barrel. I see it leveling out in the area of $90ish/barrel.

If the economy continues to tank though the price won't continue to rise because of reduction in demand.

Another factor is how emotionally driven the Dow is. I'm in 'wait and see' mode. But I fully expect there to be an emotional rise in the Dow over the next day or so.
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Old 11-05-2008, 08:19 AM
 
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Well, big oil probably lowered them to help the GOP get votes. I could see them rise now, but with the economy in the trash, they will remain low.
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Old 11-05-2008, 08:51 AM
 
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Quote:
Originally Posted by Awesomo.2000 View Post
Well, big oil probably lowered them to help the GOP get votes. I could see them rise now, but with the economy in the trash, they will remain low.
You're joking, right?
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Old 11-05-2008, 09:02 AM
 
13,724 posts, read 17,584,450 times
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Quote:
Originally Posted by Awesomo.2000 View Post
Well, big oil probably lowered them to help the GOP get votes. I could see them rise now, but with the economy in the trash, they will remain low.
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