Oil hovers above $66 after weak jobs data

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  Posted By: jjaffie @ 03/26/2009 2:31:14 PM

  Don't be a communist. The oil boys gotta make their profits. They gotta keep their stock prices up and the only way to do that is to top their record breaking profits from last year. ExxonMobile had a DAILY NET PROFIT of $123.8 million for 2008.

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  Posted By: dburgejr1 @ 02/12/2009 4:29:56 PM

  Oil is Down and Gas goes from $1.69 in the morning to $1.79 in the afternoon Do I hear $2.00 tomorrow. who knos the world is a mess and we are in for a ride.

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  Posted By: jarcher1 @ 12/26/2008 12:57:39 PM

  The reason the market continued down after the OPEC announcement is that oil reserves continue to climb (there hasn't been any actual reduction - the cuts are scheduled after Jan 1) and the fact that OPEC cuts have a bad track record. In the past, as soon as the price rebounded a bit, various members began cheating or non OPEC countries produced more, or a mixture of both. This time the non OPEC countries don't have it to produce, we'll have to wait and see if OPEC members are more disciplined this time.