World oil prices fall on demand fears

AFP
Tuesday, Aug 5, 2008

World oil prices fell in Asian trade Tuesday as fears about slowing US demand outweighed the increasing likelihood of heightened tensions over Iran’s controversial nuclear programme, dealers said.

In morning trade, New York’s main contract, light sweet crude for September delivery fell 1.14 dollars to 120.27 dollars a barrel from 121.41 dollars at the close of floor trading in the United States Monday.

London’s Brent North Sea crude for September delivery dropped 1.13 dollars to 119.55 dollars.

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Oil prices fell below 120 dollars in New York and London Monday for the first time in three months after latest US economic indicators signalled weakness in the world’s biggest economy, dealers said.

The monthly US Commerce Department survey showed Monday consumer spending, which fuels two-thirds of output, had cooled in June while inflationary pressures accelerated.

The US is the world’s biggest energy user and any signs of slowing consumer spending usually weighs down global oil demand projections.

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2 Responses to “World oil prices fall on demand fears”

1. Mark Says:
   August 5th, 2008 at 3:42 pm

   Now that Astronauts Ed Mitchell and Gordon Cooper have confirmed that UFO’s are real, and also that the military has been covering it all up. Last week senior Nasa official, Clark McClelland, opened up a brand new can of beans!

   McClelland revealed on his website that he saw an 8 to 9 ft tall alien on his monitor that was in the shuttle cargo bay communicating to two astronauts. McClelland also said a UFO was locked in orbit with the shuttle while this event was taking place.

   This information confirms the astounding revelations of prophet Linda Newkirk regarding the extraordinary events of Revelation 12 that she has been going through, that are now about to come to a close.

   You can find the links at;

   http://www.hismailroom.com

2. John B Says:
   August 6th, 2008 at 12:08 am

   I think I will share a story that’s fitting for todays sheeple, it’s called Wild Pigs.

   There was a Chemistry professor in a large college that had some exchange students in the class. One day while the class was in the lab, the professor noticed one exchange student who kept rubbing his back, and stretching as if his back hurt.

   The professor asked the young man what was the matter. The student told him he had a bullet lodged in his back. He had been shot while fighting communists in his native country who were trying to overthrow his country’s government and install a new communist government.

   In the midst of his story, he looked at the professor and asked a strange question. He asked, ‘ Do you know how to catch wild pigs?’

   The professor thought it was a joke and asked for the punch line. The young man said this was no joke. ‘You catch wild pigs by finding a suitable place in the woods and putting corn on the ground. The pigs find it, and begin to come every day to eat the free corn. When they are used to coming every day, you put a fence down one side of the place where they are used to coming. When they get used to the fence, they begin to eat the corn again, and you put up another side of the fence. They get used to that, and start to eat again. You continue until you have all four sides of the fence up with a gate in the last side. The pigs, who are used to the free corn, start to come through the gate to eat, and you slam the gate on them and catch the whole herd.

   Suddenly, the wild pigs have lost their freedom. They run around and around inside the fence, but they are caught. Soon they go back to eating the free corn. They are so used to it that they have forgotten how to forage in the woods for themselves, so they accept their captivity.

   The young man then told the professor that is exactly what he sees happening to America. The government keeps pushing us toward Socialism and keeps spreading the free corn out in the form of programs such as supplemental income, tax credit for unearned income, tobacco subsidies, dairy subsidies, payments not to plant crops(CRP), welfare, medicine, drugs, free medical, etc., while we continually lose our freedoms – just a little at a time.

   One should always remember ‘There is no such thing as a free lunch’! Also, a politician will never provide a service for you cheaper than you can do it yourself.

   Also, if you see that all of this wonderful government ‘help’ is a problem confronting the future of democracy in America, you might want to send this on to your friends. If you think the free ride is essential to your way of life, then you will probably ignore this message, but God help you when the gate slams shut!

   ‘A government big enough to give you everything you want, is big enough to take away everything you have.’ Thomas Jefferson