Oil prices cont. to fall

[Lloyds71Mav]

Originally Posted by mrenn

Rumor has it that its going to be around 25$ a barrell for the start of the year 2009!

I agree I like the oil prices falling because of gas and diesel prices falling but I work in the plastics industry and our raw material is based upon what oil prices are and if the price is falling companies quit buying due to not wanting to have large quanities on hand as where they could have waited and got it cheaper. I have worked at my job for 14yrs and we have never even cracked the throttle when the rest of the country was not doing well we were full bore. But I went to work today and I'm told as a supervisor due to no one buying at the moment waiting on oil prices to stablize we are going to cut hours back for our employees and shut the plant down for 2 weeks at christmas which we have ran 24hrs aday for either 364days or 365days a year for the 14years I have been there. I doesn't directly effect me at this moment because I am salary but I have 60 guys under me that does so yes I do like the falling fuel prices but I need them to stop falling at least for a little bit.

[mrenn]

I hear ya,im happy about the prices but at the same time,I would substitute a better economy for higher prices,I am one of the 2.7 mil out of a job,I have a feeling this is going to be one of the worst recessions of all time.

[19558077]

BEEN $2.98 ALL WEEK HERE