Sunday, December 7, 2008

Oil that is, black gold, Texas tea...

Poor but wise Jed Clampett (Buddy Ebsen) got rich quick when he struck oil... I was looking at current futures and it appears we could break the $40 a barrel maybe as early as tomorrow and I suspect we've see some more downward movement in oil company shares... Petro-Canada was a low as $20 a share within the last week from a yearly high of $61.85 .... a couple of weeks ago I had the good fortune of attending an economic address on the current economy by former President Bill Clinton and one thing he seemed sure of was oil going back to $100 a barrel.... although I don't really like to give out stock advice I can tell you I'm going to buy some of that "Canadian" tea....
Gas prices still heading south
The Guardian
Gas prices continue to plummet on Prince Edward Island. Early today, the Island Regulatory and Appeals Commission announced the following petroleum pricing decisions, effective 12:01 a.m.:- Gasoline prices will decrease by 2.5 cents per litre (cpl); - Furnace and stove oil prices will decrease by 5.0 cpl; - Diesel prices will decrease by 5.0 cpl. There will be no changes to propane pricing at this time. Including taxes, pump prices for regular unleaded gasoline at self-serve outlets will now range from 73.1 cpl to 75.2 cpl. Demand related implications of the ongoing global financial crisis, coupled with mild weather as of late, have impacted wholesale petroleum product prices resulting in today's announced pricing adjustments, says IRAC. The commission's next scheduled price adjustment will be on Dec. 15.

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