Skip navigation
MOST POPULAR RELATED TAGS
  • TOPICS
  • SECTORS
  • COMPANIES
 
 
Energy Source Index
Loading...
Loading...
Loading...
Loading...
Loading...
Loading...
Loading...
Loading...
Loading...
Loading...
Loading...
Loading...
Loading...
Loading...
Loading...
Loading...
Loading...

Current DateTime: 12:36:50 26 Nov 2009
LinksList Documentid: 23279729
Expiration DateTime: 11/26/2009 12:39:29 AM

Current DateTime: 12:36:50 26 Nov 2009
LinksList Documentid: 24355697
  • Runway Angels

      The superbowl of fashion shows, models walk down the runway at the 2009 Victoria's Secret Show.

  • Smartphone Guide

      Here's a need-to-know guide to nine devices, based on features, price, network and platform.

  • Wines for the Holidays

      Not quite sure what wine to pair with Turkey or Creme Brulee? Our experts do.

powered by digg
See All PostsEnergy Source
Text Size
Jan.10
1:39 PM ET
Thursday, 10 Jan 2008
U.S. Slowdown Putting Breaks On Next $100 A Barrel Trade?

Oil Barrels
Traders are looking at the latest retail sales figures and thinking twice about snapping up crude. According to Thompson Financials combined retail index, November and December sales stalled to 2004 levels.

It's one more sign that the economy is slowing if not contracting. And it doesn't really matter which in the oil pits. Anything other than expansion means demand won't continue to gallop ahead of production and perhaps triple digit oil is overblown.

And speaking of demand, the EIA's Short Term Energy Outlook for January pounds another nail into the energy bulls coffins. Gasoline demand in the fourth quarter of 2007 fell flat compared to a year ago. That hasn't happened for seven years!

For so long, we have endured the argument: "people are driving to work, to soccer practice… it's impossible to put on the breaks when Americans are going to places they must go." Perhaps not. And certainly if stores sell less merchandise, there's less energy guzzling production and shipping happening.

Calls, like Jeff Rubin's at CIBC World Markets, echo through the markets far less frequently these days. He thinks we'll see $150 oil in the next five years, along with $4.50 a gallon gas. That doesn't sound far fetched, just far off in the future.

The big sign post in the road now will be the government GDP number for the fourth quarter of 2007. That comes on January 30th and if it's a small number, or dare I say, a negative one, crude's slide may have only just begun.

Questions?  Comments?  energysource@cnbc.com

© 2009 CNBC, Inc. All Rights Reserved

Tools:
PrintEmailAdd This share icon
Next Post
  • digg share

CNBC HIGHLIGHTS

  • For nearly three decades, these on-call experts have been dishing advice on how to – and not to – cook turkey.
  • Eric Schmidt pledges to create a virtual copy of the Iraq National Museum at Google’s expense.
  • Bill Griffeth is taking a leave of absence from CNBC and Power Lunch for a year. Here's a message from Bill.
  • More shoppers than ever plan to comparison-shop this season. Who will benefit?
  • It may be the most unusual guide to business you'll read.
  • Cut Credit cards
  • How can you get out of debt and back on the road to recovery? Follow these ten steps.
ADD COMMENTS
Remaining characters


Current DateTime: 12:56:53 25 Nov 2009
LinksList Documentid: 29778428

Current DateTime: 10:38:02 25 Nov 2009
LinksList Documentid: 29779196

Current DateTime: 11:10:59 25 Nov 2009
LinksList Documentid: 29779199

Current DateTime: 10:38:03 25 Nov 2009
LinksList Documentid: 29779198
  Data is a real-time snapshot  *Data is delayed at least 15 minutes
Global Business and Financial News, Stock Quotes, and Market Data and Analysis

© 2009 CNBC, Inc.  All Rights Reserved.
A Division of NBC Universal
Thomson ReutersThomson Reuters