Oil falls below $80 per barrel today

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xcr440

Well-known member
Well how long have they been saying prices will come down? MONTHS.

I hope it correlates, but it took so long for gas to just get to $3.50 here in the Twin Cities. Let's hope it comes down in time for when the snow is flyin'!
 
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lenny

Guest
Correct me if I am wrong, didn't they open the reserves to lower the price of fuel? I didn't see the price go down. Someone school me here!
 
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anonomoose

New member
lenny said:
Correct me if I am wrong, didn't they open the reserves to lower the price of fuel? I didn't see the price go down. Someone school me here!
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It did have an immediate impact, but overall it did little...and was a waste of time compared to other things that this adminstration could have done, but didn't do.
 
J

jr37

Well-known member
The price of oil goes down today, the price of gas goes down next week.

The price of oil goes up today, the price of gas goes up the next hour.:rolleyes:
 
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lenny

Guest
anonomoose said:
It did have an immediate impact, but overall it did little...and was a waste of time compared to other things that this adminstration could have done, but didn't do.
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exactly,,another flop for president BHO
 
S

slimcake

Well-known member
ever wonder how a significant tax cut saves you 35 cents and a slight tax increase costs you 200 dollars?? Politics is supposed to be the second oldest profession but it acts more like the oldest profession........
 
skiroule

skiroule

Well-known member
Anything would be an improvement. Went through my debit charges for the last few days:

Beer 16.43
Fuel 37.55
Fuel 17.40
Fuel 45.54
Fuel 39.40
Fuel 36.27
Fuel 39.02
Beer 9.86

And this was just topping off - The vehicles I mean....
 
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anonomoose

New member
slimcake said:
ever wonder how a significant tax cut saves you 35 cents and a slight tax increase costs you 200 dollars?? Politics is supposed to be the second oldest profession but it acts more like the oldest profession........
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Truer words were never spoken!
 
W

windingtrailgal

Active member
slimcake said:
ever wonder how a significant tax cut saves you 35 cents and a slight tax increase costs you 200 dollars?? Politics is supposed to be the second oldest profession but it acts more like the oldest profession........
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Wish that was funny?! :eek:

Skiroule - you gotta balance that out a little better!? :)

jr37 - ain't that the truth!
 
E

ezra

Well-known member
anonomoose said:
It did have an immediate impact, but overall it did little...and was a waste of time compared to other things that this adminstration could have done, but didn't do.
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did some one kidnap the moose and take over his key board.
has the be one of the 1st times we agree on something political.well maybe guess I should ask what they could have done first lol
 
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lenny

Guest
good point ezra! I kinda think it's possible for an established company, tried and true could benefit from some financial backing, private or fed BUT is it best for ALL american to contribute and for the gov to determine which struggling companies get backing? I have family on the in-laws side that applied for Obama money and never got it. They are a once successful huge machining business in N. Illinois who employed 35 guys at one time, now they have 6. A low interest gov loan would greatly improve small business and the gov woulk make interest on the money. With the most recent solar company flopping with 535 mil of tax payer cash, it makes you wonder.
 
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dcsnomo

Moderator
lenny said:
good point ezra! I kinda think it's possible for an established company, tried and true could benefit from some financial backing, private or fed BUT is it best for ALL american to contribute and for the gov to determine which struggling companies get backing? I have family on the in-laws side that applied for Obama money and never got it. They are a once successful huge machining business in N. Illinois who employed 35 guys at one time, now they have 6. A low interest gov loan would greatly improve small business and the gov woulk make interest on the money. With the most recent solar company flopping with 535 mil of tax payer cash, it makes you wonder.
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I'm not aware of any programs where business gets low interest loans directly from the government and the payment (principle and interest) is made to the government. As far as I know, the government does not compete with private banks in the lending marketplace. Rather, the government provides loan guarantees to the lender, for which the lender significantly reduces rates.

If the business defaults on the loan, the government pays the lender, these are loan guarantees. The lenders that financed Solyndra received Energy Department loan guarantees on the debt.

This isn't "Obama money". The SBA has been issuing loan guarantees for small business financing since 1953, Obama was born 8 years later. I received my 504 SBA loan in 2003, but have never really considered it "Bush money"

You, as a taxpayer, have not paid a cent for my loan. Some bank somewhere, or a hedge fund or something, has loaned me the money, and I pay the principle, interest, and service costs to a private company every month. I got a low interest rate, and my local lender was able to offload 40% of the total risk because the government guaranteed the loan. The only way it costs you money is if I default, and if I do, I will owe the money directly to the government. The prospect of that happening is so frightening to me that I guarantee you I will sell my soul, my dog, and my Arctic Cat before I default.
 
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