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And that will be when the entire United States of America economy will collapse. US unemployment will reach above 10% within a year after oil goes above $60 a barrel. I was at a recent economic development meeting a few months ago when the guess speaker (an Wall Street economist) made the comment that all US oil refineries are operating at 100%. The only problem is there aren't enough refineries. Nobody wanted to build, or were permitted to build, new refineries during the 90s.willyloman said:T. Boone Pickens, a West Texas oilman who has a good record of predicting future oil prices, says oil should go above $60.00 a barrel because of the supply and demand imbalance. They just can't refine enough oil to meet current demand.
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bluetoad said:"The mainline cost per available seat mile (CASM), excluding fuel and unusual items, of 9.74 cents for the third quarter 2004, was a 2.3 percent increase over the same period in 2003 "
Guess all these payroll cuts are not working :down:
Rico said:Oh, BTWiHapp yHolidayon a "Welfare Christmas".
We are already on a "Welfare Christmas"
The state of California is suing Shell oil. They are closing a refinery. They are refusing to sell it. They want to simply dismantle it. Actions like that will work to keep the volatility in the market futures and oil company quarterly profits high.FM2436 said:And that will be when the entire United States of America economy will collapse. US unemployment will reach above 10% within a year after oil goes above $60 a barrel. I was at a recent economic development meeting a few months ago when the guess speaker (an Wall Street economist) made the comment that all US oil refineries are operating at 100%. The only problem is there aren't enough refineries. Nobody wanted to build, or were permitted to build, new refineries during the 90s.
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