Oil drops to around $59 a barral

[Rockefeller]

Story

(Reuters) - Oil edged lower on Friday to around $59 a barrel after tumbling on a build in crude stocks, but trade was muted by a U.S. holiday.

London Brent crude <LCOc1> shed 7 cents to $59.28 a barrel at 0646 GMT after falling by 14 cents a day ago.

U.S. crude <CLc1> was trading at $59.07 a barrel, just below Wednesday's close. The New York Mercantile Exchange was shut for the two-day Thanksgiving holiday, with electronic Global trade continuing but liquidity thin.

 

[tas38]

Funny how the price come back down, to where gas was well under $2 a gallon before. But yet they have not lowered the price below $2, they are ripping us off that is for sure.

It would be much better I think, if the gov't put a TAX on the gas. To help fund greener sourses, and even help with global warming damages. Big oil have invest well over a trillion bucks, to find more oil so they can supply more and more demand for oil.

Instead of finding greener sourses, that can take over their dropping oil sales over the long run. No after they start going under, they will get the gov't to pass laws to protect them. Instead of investing all that money in greener sourses, to take over there oil sales going ahead. A trillion bucks would have, went along ways towards dropping the need to use oil.

 

[WorldRadio.mobi]

I like ethanol.. we have lotsa corn just not the will yet..

 

[Duckinla]

It would be much better I think, if the gov't put a TAX on the gas.

I think government is waaaaaaay ahead of you. Government makes a whole lot more money on a gallon of gas than the oil companies do.