TV News LIES

Thursday, Aug 21st

Last update03:04:25 AM GMT

You are here News Energy Oil prices sink below $93 on falling demand

Oil prices sink below $93 on falling demand

E-mail Print PDF

Oil prices extended their steep losses Tuesday, tumbling below $92 a barrel as a worsening economy suggested U.S. energy demand will keep falling despite crude's return to year-ago levels.

Gas prices edged higher at the pump, topping $3.85 a gallon amid the aftermath of Hurricane Ike. However, given crude's continuing slide, retail gas was expected to turn lower within a few weeks.


As conditions on Wall Street deteriorated, evidence mounted that U.S. consumers and businesses were bracing for a protracted economic downturn that should guarantee more of the money-saving energy conservation measures of the past year: Americans will cut back on driving, airlines will keep fewer planes in the air and U.S. manufacturers will be shipping fewer products. That in turn was expected to keep crude prices down.

TVNL Comment: Oil prices drop but gas prices increas? Can you sayconspiracy? What will happen next will be conservation will cause a decrease in demand. Economic laws of supply and demand will dictate that lower prices must follow. But the oil cartels will reduce production resulting in reduced supply, thus maintaining an excuse for keeping prices high or even raising them. This brings a new meaning to the term "oil rig", or should I say "rigged oil!"

More...


Most Recent Related Stories...


U.S. opens Gulf acreage to energy companies

new energy leases in GulfMore than 20 million acres off the coast of Texas were opened up for bidding for...

Iran vows to defend Iraq Shi'ite sites; insurgents battle for refinery

Iran to protect sitesSunni rebels battled their way into the biggest oil refinery in Iraq on Wednesday, and the...

Why birds are igniting in midair over Calif.

Birds igniting mid airA cutting-edge solar technology in California's Mojave Desert may have a bit too much cut. Wildlife...

BP allowed commercial drones by US regulators in unprecedented decision

FAA allows BP use of drones over landThe Federal Aviation Administration said Tuesday it has granted the first permission for commercial drone flights...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!