TV News LIES

Monday, Aug 21st

Last update05:20:13 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...


Why are these billions in pipeline projects stalled?

Billions in pipeline projects stalledBillions of dollars’ worth of shovel-ready infrastructure projects have been held up by a bureaucratic morass...

Feds Suspect Russians Behind Cyber-Attacks on Power Plants

Wolf Creek Nuclear PlantRussia is suspected to be behind recent hacker intrusions at American power plants, including at least...

Treasury fines ExxonMobil $2 million for violating Russia sanctions while Tillerson was CEO

Treasury fines Exxon Mobil for violating Russia sanctionsThe Treasury Department said Thursday it is fining Exxon Mobil Corp. $2 million for violating sanctions...

Panda Power: China just built a solar farm shaped like a giant panda

Panda Power in ChinaLast week, Panda Green Energy Group Limited flipped the switch on the world’s most adorable solar...
 
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!