Those who invest in Oil Futures know the huge profits they are making just became more risky. (The price drop is exactly what was predicted by right-wing and Libertarian talk show hosts.)
If the Democrats who control BOTH Houses of Congress will follow his (Bush's) lead, the prices will IMMEDIATELY drop to the level of last year.
(That is contrary to ALL the predictions of the Democrats who want to keep sending all your money to our enemies. They think an economic disaster THEY created since taking over in 2006 will catapult them into office.)Oil closed at $124 a barrell today.. To what do you attribute the drop?
Demand has lowered, and supply has also been under less of a
';threat';
Of course, the Dems will say it's not supply and deman, that is was:
They forced the oil companies to start drilling on ';all that'; leased land and ';miraculously, there was oil there this time. They explored on monday, started pumping on tuesday,
Or, they'll say they forced the ';speculators'; to take the week off.
And they did it just for us!
Drill Here, Drill NOWOil closed at $124 a barrell today.. To what do you attribute the drop?
The price of gasoline has gotten too expensive for many people, and they are cutting back on driving. As a result inventories of oil have been accumulating. As inventories of oil go up the price usually goes down.
Also, the global economy isn't doing as well as it has been, and so it can't support these high prices at the moment.
Supply and demand.
Could it be that OPEC is worried that we will actually get serious about finding alternatives and don't want the gravy train to end yet?
Could it be that speculators are under a microscope and don't want the gravy train to end yet?
Could it be that ';Big Oil'; fears that the American public will find their backbone and demand answers, and they don't want the gravy train to end yet?
Our fellow citizens driving less, conserving because we dont have that kind of extra money to burn, the president lifting the ban on offshore drilling, those sand guys over there think we might drill here and now T Boone Pickens,and or the speculators are movin there money?????????????
Hmmm Senator Obama makes a series of reasoned proposals rgarding how he will handle our wars, and the economy, makes a trip overseas to get a first hand look at what is going on, the market reacts favorably!!
THANK YOU PRESIDENT BUSH. Since you get blamed for everything you can also take credit for everything.
Bush talking to Iran and the threat of war dropping...
does anyone else remember how when Bush and Ahmed were yelling at each other how the price of oil was rising almost every day?
coincidence
Lowered demand, investigations into oil speculators and even just the notion of lifting the federal ban on offshore drilling
Sending diplomats, peace talks with Iran, this is a true sign that we can lower our hostile policy, and use a lower and peaceful tone towards Iran.
Ratcheting down of the war rhetoric on Iran, a lot of oil on the market and less demand. Could be a nasty bubble.
GO ALL IN ON OIL FUTURES GUYS......
Oil has dropped ever since GWB rescinded the executive order banning off shore drilling.
Damn those speculators!!!
profit taking by oil speculators! nothing more.
A drop in demand, and panic among investors.
Gravity.
Don't care as I'm planning to not need it.
They can drink it for all I care.
';You don't have to be a weatherman....';
We're not using as much gas because of the high prices.
Speculators. That's all. It will go back up until just before the election.
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