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Re: miami_vice post# 9850

Thursday, 08/14/2008 4:11:07 PM

Thursday, August 14, 2008 4:11:07 PM

Post# of 16569
Try the fact that when the price went up, people started to use mass transit more. Here in NYC alone, the MTA announced a 7% increase in ridership since January 2008. So when you think that 3.5 million people use MTA everyday times 7% about 1/4 million people not using their car. Meaning less oil used. Use this average to the country and you'll get about 2 million BBLs per day. Meaning less demand for oil which brings price per BBLs down. This will eventually get back to income to companies, less income means lower price of stock!

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