Man, if there's one thing I hate doing, it's putting out a prediction. Unless it's for an 80-year time horizon you are setting yourself up not just to not be right, but to in fact be wrong. With that said, oil SHOULD drop Tuesday. After a big run up in anticipation of Gustav churning to as much as a category 4 hurricane and only reaching a category 1. Not to downplay the beating the gulf coast is taking, but it's not going to be the armagedon potential that the speculators were banking on when they shorted the oil contracts all last week. As long as Hanna plays nice, never a guaranteed with the ladies, oil should remain tame in the near future with much less interruption of the oil pumping and refining business than was anticipated.
Total Care Realty - Greensboro, NC
Beneath it all is the Land, Covering all of NC
Scott,
We really hope that oil drops alot more. It has a direct relation to how much house showing I do.
Sep 01, 2008 01:22 PM
B. Payden Photography, LLC - Manassas, VA
Northern Virginia Real Estate Photography
Scott-
That is assuming the Oil company executive's don't use the hurricane shut down as an "excuse" to add to their record profits by gouging us again.
Sep 01, 2008 01:22 PM
Keller Williams Indy NE 317-290-7775 www.marchantteam.com - Carmel, IN
"Cindy in Indy" , Realtor, Fishers Real Estate
I bought Gartmore over a year ago...probably two years and at least feel somewhat vindicated that I can reap some of the increase I've paid in gas in stock prices! It sure has made me rethink what my area of expertise is with buyers!
Sep 01, 2008 01:31 PM
Frank Rubi Real Estate, LLC - Metairie, LA
FrankRubiRealEstate.com
Scott, it should be ok. I predict most platforms rode this storm. It is the other two behind Hanan that might be different.
Sep 01, 2008 01:37 PM
Blue Cord Realty - Clarksville, TN
Blue Cord Realty
Grrrr..... I hate that the oil companies refuse to take a loss... I realise they are in business to make money....but holy crap.. we the public take a beating over oil prices
Sep 01, 2008 03:19 PM
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You will find that my blogs tend to occupy one of two categories. As a committed economy junkie I will frequently give you my insights on where I think the economy is going or what is causing it to be where it is. Please be patient with the other type which are the cathartic rants of a lender on the razor's edge of reason.
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