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Greece votes, situation unlikely to improve, oil prices fall

GasBuddy Blog -- The votes are tallied. Greeks voted pro-austerity, but just barely. With nearly 100 percent of ballots counted, New Democracy won 29.7 percent of the vote, ahead of SYRIZA on 27 percent and PASOK on 12.3 percent. Oil rallied in electronic trading shortly after results were revealed, but gave up that ground shortly after. The problems that haunt Greece may continue as parliament remains heavily saturated by both pro-austerity and anti-austerity lawmakers.

The expectation of the continued stalemate between the two sides sent oil prices down to start the week, with West Texas Intermediate crude off over $1/bbl to $82.79 while wholesale gasoline prices also gave up ground in all regions, falling 3-6 cents per gallon at press time. The...

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Submitted Jun 18, 2012 By: PD

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bigLtowing Champion Author Columbus Posts:2,979 Points:620,265 Joined:Aug 2011	Message Posted: Jun 19, 2012 6:39:40 AM Ignore bigLtowing Report Abuse good
belladog Champion Author Mobile Posts:2,671 Points:953,435 Joined:May 2007	Message Posted: Jun 19, 2012 6:39:30 AM Ignore belladog Report Abuse ok
kjSC Champion Author South Carolina Posts:3,377 Points:681,375 Joined:Apr 2011	Message Posted: Jun 19, 2012 6:39:29 AM Ignore kjSC Report Abuse While good news for consumers, this global economic doom is not good for any economy.
gbs1 Champion Author Minnesota Posts:2,141 Points:770,300 Joined:Mar 2011	Message Posted: Jun 19, 2012 6:38:55 AM Ignore gbs1 Report Abuse Greece voters narrowly approved the New Democracy,over the Socialists,they have some common sense.
Sethyl Champion Author Miami Posts:1,894 Points:405,165 Joined:Oct 2009	Message Posted: Jun 19, 2012 6:38:11 AM Ignore Sethyl Report Abuse If Greece markets are such a big influence, how much oil/money are they in control of?
JoJoQc Champion Author Montreal Posts:5,336 Points:1,040,155 Joined:May 2010	Message Posted: Jun 19, 2012 6:38:03 AM Ignore JoJoQc Report Abuse Good!!!
techque Champion Author St. Louis Posts:8,795 Points:2,445,380 Joined:Apr 2005	Message Posted: Jun 19, 2012 6:37:54 AM Ignore techque Report Abuse Greece voted austerity so BIG OIL JACKED PRICES !! That is just WRONG !!! When is big oil going to vote austerity so they quit killing the world's economies ??
91Explorer All-Star Author Dallas Posts:634 Points:1,154,140 Joined:Oct 2009	Message Posted: Jun 19, 2012 6:36:49 AM Ignore 91Explorer Report Abuse Eurozone problems
buzzieNY Champion Author Buffalo Posts:3,030 Points:663,030 Joined:Jun 2011	Message Posted: Jun 19, 2012 6:36:26 AM Ignore buzzieNY Report Abuse If Obama Administration isn't Replaced in November, The same problem will happen here in the USA..
Hi1 Champion Author Ontario Posts:5,000 Points:1,753,285 Joined:Jun 2007	Message Posted: Jun 19, 2012 6:36:25 AM Ignore Hi1 Report Abuse Good.
april4 Champion Author Virginia Beach Posts:12,315 Points:2,428,560 Joined:Oct 2005	Message Posted: Jun 19, 2012 6:35:53 AM Ignore april4 Report Abuse Good
Gas_Buzzer Champion Author South Carolina Posts:14,274 Points:2,615,240 Joined:Sep 2005	Message Posted: Jun 19, 2012 6:35:41 AM Ignore Gas_Buzzer Report Abuse The US is soon to be the next Greece. Many Americans now expect entitlements rather than work for a living and accept sucking on the government's teat as their means of survival. I say let them all wander the desert and manage their own survival.
MightyDude Champion Author Minnesota Posts:10,496 Points:2,676,445 Joined:Mar 2003	Message Posted: Jun 19, 2012 6:35:31 AM Ignore MightyDude Report Abuse hope it works
gas_too_high Champion Author Columbus Posts:11,691 Points:1,960,390 Joined:Aug 2005	Message Posted: Jun 19, 2012 6:35:03 AM Ignore gas_too_high Report Abuse The summary I heard was that the Greek vote resulted neither in a solution nor in an apocalypse (A good Greek word BTW). GTH
memo81 Champion Author St. Louis Posts:2,489 Points:472,200 Joined:Feb 2012	Message Posted: Jun 19, 2012 6:33:52 AM Ignore memo81 Report Abuse We will see if the trend continues
twiper1 Champion Author San Diego Posts:7,951 Points:1,632,840 Joined:Oct 2008	Message Posted: Jun 19, 2012 6:33:28 AM Ignore twiper1 Report Abuse at lest oil is going down
indyjim Champion Author Indianapolis Posts:10,268 Points:2,347,130 Joined:Jul 2006	Message Posted: Jun 19, 2012 6:33:19 AM Ignore indyjim Report Abuse Countries must operate under a balanced budget system. Obama is trying to bancrupt the US, but Congress may end up doing the right thing............stop him.
LoadToad Champion Author San Diego Posts:1,364 Points:1,298,045 Joined:Sep 2005	Message Posted: Jun 19, 2012 6:32:45 AM Ignore LoadToad Report Abuse Harrah
SUPERQUACK Champion Author Sacramento Posts:6,247 Points:1,939,005 Joined:Jun 2007	Message Posted: Jun 19, 2012 6:32:28 AM Ignore SUPERQUACK Report Abuse GREECE AND "OIL" ..... HOW ABOUT GRAPELEAVES
EXTREMESNOW Champion Author Medford Posts:8,930 Points:1,825,740 Joined:Jul 2006	Message Posted: Jun 19, 2012 6:31:57 AM Ignore EXTREMESNOW Report Abuse Good news for oil importers.
Harry813 Champion Author Iowa Posts:3,140 Points:689,340 Joined:Jul 2011	Message Posted: Jun 19, 2012 6:31:23 AM Ignore Harry813 Report Abuse I think things will work out eventually
OWENALOTT Champion Author Appleton Posts:2,182 Points:500,095 Joined:Apr 2011	Message Posted: Jun 19, 2012 6:30:49 AM Ignore OWENALOTT Report Abuse k
spooky255 Rookie Author Pennsylvania Posts:69 Points:730,780 Joined:Sep 2009	Message Posted: Jun 19, 2012 6:30:39 AM Ignore spooky255 Report Abuse ...
HelenT Champion Author Buffalo Posts:3,094 Points:624,350 Joined:Apr 2004	Message Posted: Jun 19, 2012 6:30:10 AM Ignore HelenT Report Abuse good
AC-302 Champion Author Los Angeles Posts:26,850 Points:2,929,270 Joined:Aug 2004	Message Posted: Jun 19, 2012 6:29:58 AM Ignore AC-302 Report Abuse The Greeks are loathe to reform their social welfare bureaucracy. The consequence is that they'll be cut loose from the Eurodollar, and they'll have to go bankrupt by themselves and NOT take the rest of the EU down with it.
gws2980 Champion Author Philadelphia Posts:2,316 Points:527,840 Joined:Oct 2010	Message Posted: Jun 19, 2012 6:29:24 AM Ignore gws2980 Report Abuse good
stonecold5005 All-Star Author Waco Posts:819 Points:20,605 Joined:Mar 2012	Message Posted: Jun 19, 2012 6:28:30 AM Ignore stonecold5005 Report Abuse ok
cookined Champion Author Maine Posts:4,100 Points:2,254,445 Joined:Oct 2005	Message Posted: Jun 19, 2012 6:28:30 AM Ignore cookined Report Abuse If Obama don,t go this will happen here
tpguess Champion Author San Diego Posts:1,696 Points:395,160 Joined:Jan 2012	Message Posted: Jun 19, 2012 6:28:12 AM Ignore tpguess Report Abuse Greece... Obama's model for the US
bullseye100 Champion Author New Jersey Posts:2,531 Points:610,030 Joined:Aug 2011	Message Posted: Jun 19, 2012 6:28:08 AM Ignore bullseye100 Report Abuse I haven't followed this story but I wish the best for them....and our gas prices
PrepHermit Champion Author New Jersey Posts:8,170 Points:1,663,360 Joined:Aug 2008	Message Posted: Jun 19, 2012 6:27:59 AM Ignore PrepHermit Report Abuse Maybe someday the world will face the reality that our global economy is not robust - and probably never has been - and the speculators can stop contributing to the economic woes and the price of oil will fall to where it should be. I'm not holding my breath.
WTLITNG Champion Author Virginia Posts:1,977 Points:1,042,365 Joined:Dec 2008	Message Posted: Jun 19, 2012 6:26:41 AM Ignore WTLITNG Report Abuse Good. It is encouraging that someone can improve their economy.
wingryder92 Champion Author British Columbia Posts:6,100 Points:586,680 Joined:Apr 2011	Message Posted: Jun 19, 2012 6:26:02 AM Ignore wingryder92 Report Abuse Just as Greece gets itself onto a better path, Spain & Italy start to fail.
BigBrat Champion Author Phoenix Posts:2,693 Points:1,058,405 Joined:Dec 2004	Message Posted: Jun 19, 2012 6:25:59 AM Ignore BigBrat Report Abuse Really
stonecold5005 All-Star Author Waco Posts:819 Points:20,605 Joined:Mar 2012	Message Posted: Jun 19, 2012 6:25:58 AM Ignore stonecold5005 Report Abuse ok
FuelBarge Champion Author Long Island Posts:9,340 Points:2,103,990 Joined:Aug 2005	Message Posted: Jun 19, 2012 6:25:56 AM Ignore FuelBarge Report Abuse It is a shame it takes economic problems to give us affordable energy.
stonecold5005 All-Star Author Waco Posts:819 Points:20,605 Joined:Mar 2012	Message Posted: Jun 19, 2012 6:25:41 AM Ignore stonecold5005 Report Abuse ok
AAxterra Champion Author Tennessee Posts:3,855 Points:794,905 Joined:Aug 2008	Message Posted: Jun 19, 2012 6:25:27 AM Ignore AAxterra Report Abuse ok
Minutefan Champion Author Springfield Posts:3,414 Points:1,272,345 Joined:Aug 2004	Message Posted: Jun 19, 2012 6:24:48 AM Ignore Minutefan Report Abuse Spain is next.
jd2009 Champion Author Honolulu Posts:4,269 Points:1,312,680 Joined:Jan 2009	Message Posted: Jun 19, 2012 6:24:44 AM Ignore jd2009 Report Abuse Ok
jalan25 Champion Author Indianapolis Posts:2,450 Points:597,295 Joined:Sep 2011	Message Posted: Jun 19, 2012 6:24:40 AM Ignore jalan25 Report Abuse Time will tell
36IHBinder Champion Author Illinois Posts:3,098 Points:670,790 Joined:Jun 2011	Message Posted: Jun 19, 2012 6:24:40 AM Ignore 36IHBinder Report Abuse I bet they don't fall for long.
CharlieC08 Champion Author Colorado Posts:8,077 Points:1,486,075 Joined:Oct 2008	Message Posted: Jun 19, 2012 6:24:19 AM Ignore CharlieC08 Report Abuse How much effect can Greese have on the world anyway?
ModelWarships Champion Author Missouri Posts:5,890 Points:1,251,010 Joined:Jul 2008	Message Posted: Jun 19, 2012 6:24:13 AM Ignore ModelWarships Report Abuse Plus $0.10 in Kansas City market today.
otherdave Champion Author Indiana Posts:3,535 Points:1,296,860 Joined:Oct 2008	Message Posted: Jun 19, 2012 6:23:48 AM Ignore otherdave Report Abuse not falling fast enough!
FlyNFool Champion Author South Carolina Posts:8,384 Points:1,712,900 Joined:Aug 2008	Message Posted: Jun 19, 2012 6:22:44 AM Ignore FlyNFool Report Abuse Prices falling is good!
UncaLar Champion Author Indiana Posts:1,936 Points:410,925 Joined:Apr 2005	Message Posted: Jun 19, 2012 6:22:24 AM Ignore UncaLar Report Abuse I like the sound of oil prices falling.
2gjh Champion Author North Dakota Posts:3,174 Points:2,447,600 Joined:Nov 2003	Message Posted: Jun 19, 2012 6:22:21 AM Ignore 2gjh Report Abuse No one likes austerity but it comes sooner or later like it will be coming to America soon.
BigBearHug Champion Author Amarillo Posts:2,344 Points:512,805 Joined:Dec 2011	Message Posted: Jun 19, 2012 6:21:22 AM Ignore BigBearHug Report Abuse so
itzagasgasgas1 Champion Author Cincinnati Posts:4,114 Points:1,626,970 Joined:Aug 2005	Message Posted: Jun 19, 2012 6:21:11 AM Ignore itzagasgasgas1 Report Abuse It's a catch 22 situation with oil prices at the level they are now. Higher prices allegedly indicate a healthier economy but high energy prices are what caused the debt problems in Europe in the first place. The greedy brokers fail to understand that higher energy prices have a negative impact on everyone who doesn't own a piece of the energy pie.
bmsgolf Champion Author Amarillo Posts:2,148 Points:479,680 Joined:May 2011	Message Posted: Jun 19, 2012 6:19:08 AM Ignore bmsgolf Report Abuse old
Rans35PG Champion Author Modesto Posts:2,470 Points:1,000,000 Joined:Oct 2008	Message Posted: Jun 19, 2012 6:19:02 AM Ignore Rans35PG Report Abuse I dont live in Grease