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One day it's Greece, the next day it's Spain: oil tumbles

GasBuddy Blog -- Crude oil is set to take a beating, nay, is already taking a beating, as traders get jittery looking at Spain's debt issues. A few weeks ago we might have cited Greece's outlook for the lapse in prices, but today, and in recent days, Spain is becoming the target of new concern.

Increasing economic activity promotes higher crude oil and gasoline prices. Why? We use more of the stuff when the economy is good. With the situation in the European Union, the massive debt, the insanely low retirement age with massive pensions, the shorter work week- the debt is mounting. And it certainly could impact the United States, especially as this country continues to increase its debt burden by doing many of the same things- overspending. And while...

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Submitted Jul 23, 2012 By: PD

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Vette1967 Champion Author Albany Posts:6,102 Points:1,302,725 Joined:Jun 2009	Message Posted: Jul 30, 2012 11:26:20 AM Ignore Vette1967 Report Abuse Don't care about the price of a barrel of oil anymore!!! It doesn't matter what it is when pricing the cost of gasoline.
SUPERQUACK Champion Author Sacramento Posts:6,247 Points:1,937,380 Joined:Jun 2007	Message Posted: Jul 30, 2012 10:50:32 AM Ignore SUPERQUACK Report Abuse WHY ALL THE WORRY ....... THESE COUNTRIES ARE SMALLER THAN MOST OF OUR STATES , AND ADD LITTLE TO OUR ECONOMY. LETS GET GOING RIGHT HERE !!!!!!!!!!!
albert2008 Champion Author Winnipeg Posts:7,487 Points:1,507,735 Joined:Sep 2008	Message Posted: Jul 30, 2012 8:16:47 AM Ignore albert2008 Report Abuse but prices at the pump dont tumble
skinsfan125 Champion Author Virginia Posts:1,604 Points:304,050 Joined:Jul 2010	Message Posted: Jul 29, 2012 12:05:00 PM Ignore skinsfan125 Report Abuse whatever
stonecold5005 All-Star Author Waco Posts:819 Points:20,605 Joined:Mar 2012	Message Posted: Jul 29, 2012 10:07:17 AM Ignore stonecold5005 Report Abuse ok
honda0105 Champion Author Tallahassee Posts:18,818 Points:1,636,245 Joined:Nov 2008	Message Posted: Jul 26, 2012 4:57:40 AM Ignore honda0105 Report Abuse CapriceW: I argue that consumer debt is even more dangerous right now than governmental debt.
honda0105 Champion Author Tallahassee Posts:18,818 Points:1,636,245 Joined:Nov 2008	Message Posted: Jul 26, 2012 4:57:10 AM Ignore honda0105 Report Abuse one excuse today, the next day it's another.
CapriceWagon Champion Author Washington Posts:1,009 Points:502,870 Joined:Feb 2008	Message Posted: Jul 25, 2012 11:15:23 AM Ignore CapriceWagon Report Abuse And yet we refuse to look at the facts: if we continue to spend like we are, we'll be in the same boat as the europeans, only much, much worse. Does no one else think it's a problem that we've added $5 trillion to the already massive national deficit with no sign of turning around in the last three years? If you think 2008 was a recession, just wait, this is going to blow up in the whole world's face.
SUV2009 Champion Author Orlando Posts:4,488 Points:1,165,240 Joined:Oct 2009	Message Posted: Jul 24, 2012 4:38:22 PM Ignore SUV2009 Report Abuse ok
txrojo2005 All-Star Author Austin Posts:801 Points:500,140 Joined:May 2011	Message Posted: Jul 24, 2012 3:00:41 PM Ignore txrojo2005 Report Abuse Yep. Here we go again.
txrojo2005 All-Star Author Austin Posts:801 Points:500,140 Joined:May 2011	Message Posted: Jul 24, 2012 3:00:30 PM Ignore txrojo2005 Report Abuse Yep. Here we go again.
VanIsleLes All-Star Author British Columbia Posts:898 Points:294,545 Joined:Jun 2012	Message Posted: Jul 24, 2012 2:50:32 PM Ignore VanIsleLes Report Abuse Same pile, another day
BIGOILEATURCRUD Champion Author North Carolina Posts:5,942 Points:1,405,865 Joined:Nov 2008	Message Posted: Jul 24, 2012 1:38:09 PM Ignore BIGOILEATURCRUD Report Abuse kyrunner Ever heard the phrase "sounds like a broken record"?
h2ojumper Champion Author Austin Posts:2,695 Points:734,135 Joined:Feb 2011	Message Posted: Jul 24, 2012 1:25:52 PM Ignore h2ojumper Report Abuse ok
abacus44 Champion Author Toms River Posts:3,600 Points:773,040 Joined:Jan 2011	Message Posted: Jul 24, 2012 12:13:20 PM Ignore abacus44 Report Abuse They're not going to resolve their issues anytime soon
Buck_on_Bass Champion Author Tennessee Posts:7,704 Points:1,480,985 Joined:Jul 2007	Message Posted: Jul 24, 2012 8:56:04 AM Ignore Buck_on_Bass Report Abuse Just as the financial problems in the US affected Europe, so will the European financial problems affect the US.
Coben All-Star Author York Posts:688 Points:290,330 Joined:Apr 2011	Message Posted: Jul 24, 2012 8:19:05 AM Ignore Coben Report Abuse One by one they fell. Victims of their populaces greed in voting themselves money from the publics coffers. (I.E. Welfare and whatever else takes from the populace and gives to others) Then, arising from the ashes, like a Phoenix, the New World Order. Here you will be told what to do, when to do it and how to do it. Creativity is stiffled, no rights, and no respect. Only the rulers have privlidge, the common worker (everyone that doesn't rule or have land/wealth) has no life. It's coming. Soon. In your lifetime. Better vote ANYONE but obama in november!
TA33 Champion Author Massachusetts Posts:1,607 Points:347,090 Joined:Apr 2012	Message Posted: Jul 24, 2012 8:09:45 AM Ignore TA33 Report Abuse Our turn is coming....
The3rd Champion Author Jacksonville Posts:2,998 Points:837,550 Joined:Jul 2004	Message Posted: Jul 24, 2012 8:02:34 AM Ignore The3rd Report Abuse especially as this country continues to increase its debt burden by Barry remaining in office
kyrunner Champion Author Lexington Posts:9,113 Points:1,725,900 Joined:Aug 2008	Message Posted: Jul 24, 2012 8:01:50 AM Ignore kyrunner Report Abuse The trouble with socialism is you eventually run out of other peoples money. They socialist countries are learning this lesson the hard way. If we continue on our current economic plan we will be these countries very soon.
OldMan322 Champion Author Illinois Posts:5,282 Points:1,621,155 Joined:Jul 2008	Message Posted: Jul 24, 2012 8:01:48 AM Ignore OldMan322 Report Abuse And the price of fuel go UP, UP and away
Jamer Champion Author Las Vegas Posts:8,897 Points:1,662,985 Joined:Jul 2002	Message Posted: Jul 24, 2012 8:01:28 AM Ignore Jamer Report Abuse ....and the roller coaster ride continues.
keithyoon1977 Champion Author Virginia Posts:2,045 Points:522,215 Joined:Dec 2011	Message Posted: Jul 24, 2012 8:01:19 AM Ignore keithyoon1977 Report Abuse Ok
JENNYHK Champion Author Chicago Posts:3,776 Points:739,320 Joined:Apr 2011	Message Posted: Jul 24, 2012 8:01:19 AM Ignore JENNYHK Report Abuse ok.
goldseeker Champion Author West Virginia Posts:19,748 Points:2,745,540 Joined:Sep 2005	Message Posted: Jul 24, 2012 8:00:56 AM Ignore goldseeker Report Abuse Too bad.
daquanabe Champion Author Houston Posts:1,908 Points:390,650 Joined:Oct 2009	Message Posted: Jul 24, 2012 8:00:47 AM Ignore daquanabe Report Abuse whatever
Liefhebber Champion Author Chicago Posts:2,520 Points:393,725 Joined:May 2012	Message Posted: Jul 24, 2012 8:00:43 AM Ignore Liefhebber Report Abuse Whatever (almost) works . . . .
mrservonics Champion Author Boston Posts:2,864 Points:1,380,130 Joined:May 2005	Message Posted: Jul 24, 2012 8:00:06 AM Ignore mrservonics Report Abuse Shameful!
CharlieC08 Champion Author Colorado Posts:8,077 Points:1,486,075 Joined:Oct 2008	Message Posted: Jul 24, 2012 7:58:27 AM Ignore CharlieC08 Report Abuse And this is what Obummer wants?
Soglaos Champion Author Virginia Beach Posts:2,851 Points:764,655 Joined:Feb 2011	Message Posted: Jul 24, 2012 7:57:59 AM Ignore Soglaos Report Abuse Ok
ec951 All-Star Author Riverside Posts:909 Points:382,065 Joined:Nov 2011	Message Posted: Jul 24, 2012 7:57:55 AM Ignore ec951 Report Abuse Ok.
teatiger Champion Author Dallas Posts:2,815 Points:1,503,590 Joined:Nov 2008	Message Posted: Jul 24, 2012 7:57:17 AM Ignore teatiger Report Abuse no pity here
Ticobird Champion Author Huntsville Posts:3,324 Points:1,136,405 Joined:Oct 2009	Message Posted: Jul 24, 2012 7:57:14 AM Ignore Ticobird Report Abuse This present economic ride looks to be a 100 mile stretch of bad road.
bmsgolf Champion Author Amarillo Posts:2,143 Points:478,705 Joined:May 2011	Message Posted: Jul 24, 2012 7:56:55 AM Ignore bmsgolf Report Abuse Bet gas doesn't take a beating.
SaturnSC Champion Author Columbus Posts:1,056 Points:856,725 Joined:Nov 2008	Message Posted: Jul 24, 2012 7:56:06 AM Ignore SaturnSC Report Abuse But gas prices will stay high
craigsf38 Champion Author Rochester Posts:5,848 Points:1,536,980 Joined:Jun 2008	Message Posted: Jul 24, 2012 7:55:50 AM Ignore craigsf38 Report Abuse Any excuse to buy or sell contracts is a a reason for some to try to make money. it seems foolish to me
SUSANCK Champion Author Chicago Posts:3,777 Points:731,230 Joined:Apr 2011	Message Posted: Jul 24, 2012 7:54:57 AM Ignore SUSANCK Report Abuse ok.
DerTaubman Champion Author Detroit Posts:7,449 Points:1,556,745 Joined:Jun 2007	Message Posted: Jul 24, 2012 7:54:53 AM Ignore DerTaubman Report Abuse Not seeing it at the pump here.
gws2980 Champion Author Philadelphia Posts:2,311 Points:526,865 Joined:Oct 2010	Message Posted: Jul 24, 2012 7:54:44 AM Ignore gws2980 Report Abuse Fine
Ebaz Champion Author Oklahoma City Posts:3,340 Points:737,965 Joined:Apr 2011	Message Posted: Jul 24, 2012 7:54:16 AM Ignore Ebaz Report Abuse House of cards
RochBear Champion Author Minnesota Posts:10,549 Points:1,758,260 Joined:May 2006	Message Posted: Jul 24, 2012 7:53:01 AM Ignore RochBear Report Abuse And the USA is only 5-6 years behind Greece!
Hop1LA Champion Author Baton Rouge Posts:3,444 Points:1,202,245 Joined:Apr 2008	Message Posted: Jul 24, 2012 7:51:47 AM Ignore Hop1LA Report Abuse ...tensions in the Middle East, oil prices rise.
yelobus Champion Author Houston Posts:5,738 Points:1,583,565 Joined:Aug 2006	Message Posted: Jul 24, 2012 7:51:28 AM Ignore yelobus Report Abuse Ok. Gas prices to go up.
TheSicilian Champion Author Jacksonville Posts:5,514 Points:1,496,475 Joined:Feb 2009	Message Posted: Jul 24, 2012 7:51:22 AM Ignore TheSicilian Report Abuse lets see it at the pumps
14smoke08 Sophomore Author Montreal Posts:240 Points:47,600 Joined:Jul 2012	Message Posted: Jul 24, 2012 7:50:22 AM Ignore 14smoke08 Report Abuse Our gas prices just rose last night.
survken Champion Author Indiana Posts:2,571 Points:449,235 Joined:Jul 2010	Message Posted: Jul 24, 2012 7:50:16 AM Ignore survken Report Abuse I would hardly describe it as "tumbles"
ZeroBoxes Champion Author Mississippi Posts:1,079 Points:213,440 Joined:Apr 2012	Message Posted: Jul 24, 2012 7:49:59 AM Ignore ZeroBoxes Report Abuse So, Europe sneezes and we get a hot bath...or not...
sailfreeMI Champion Author Michigan Posts:2,311 Points:469,175 Joined:Jul 2011	Message Posted: Jul 24, 2012 7:49:18 AM Ignore sailfreeMI Report Abuse Don't look now but we are headed the way of Greece and Spain.
leraar2 Champion Author Massachusetts Posts:3,899 Points:814,405 Joined:Mar 2011	Message Posted: Jul 24, 2012 7:49:00 AM Ignore leraar2 Report Abuse and after that, Italy.
Badmoon Champion Author Massachusetts Posts:8,443 Points:1,678,215 Joined:Oct 2008	Message Posted: Jul 24, 2012 7:48:54 AM Ignore Badmoon Report Abuse Traders are betting on economic increases a year or two out and get scared off when they hear another bad news story. With the paper market around 14 times larger than the physical market it moves the needle that much further in either direction. Wall street is out of control!