All of a sudden oil went down 16 dollars a barrel. What’s that about? Ya think the Bush people said enough. We screwed the american people enough. We all made plenty of bucks over the last 7 almost 8 years. Let’s make it better so John baby and Cindy can get into the White House. What you all think?
Related posts:
It appears that you are not very well informed about economics and the market place.
The oil market is a world wide market, the largest US oil company is only the 14th in size. There has been a tremendeous demand by India & China along with OPEC not increasing supply, the price have risen.
Bush "and his people" had nothing to do with this and if you understood the markets you would have known this.
The problem the US is having is with the Democratic congress who is fighting the drilling of oil in ANWR and on the continental shelves. (the existing leases are not profit drilling sites & the oil companies are more than willing to get out of them)
The President started to push Congress to get real and let the drilling begin, the oil traders & speculators know that the US could become independent of OPEC if the drill their own oil, this is one of the reason that the price of oil dropped since it is a futures market
By the wording of your comments you are giving the Liberal standby response that is not factual, and simply a Bush bashing position usually employed by immature, naive and uneducated individuals.
ONE IMPORTANT POINT FOR YOUR INFORMATION OIL DOES NOT TRADE ON THE STOCK MARKET
Yes the greed is killing the economey but its not the markets. The markets especially oil are resopnding to the destruction of the dollar by the Federal Reserve, In the future you will understand what Im saying. If you really want to learn what is happening then reserch the Federal Reserve, fractional reserve banking, M1, M2, M3, inflation and how they scew the numbers with hedonics among other things.
I think you need to go back to ECON 101 assuming you ever went to school. Supply and demand buddy. For years Bush has been doing all he can to help push supply, but the Democrats have stopped him at every turn. Denying drilling in ANWR, denying drilling off shore, making it nearly impossible to open new refineries here in the USA, blocking nuclear power again and again. So now the supply sucks. Understand? And demand is going through the roof with economic growth in China, India and here in the US (see all the SUV’s out there?). Well Bush signed an executive order allowing off shore drilling (which the Democrats will surely kill) and due to the high prices, demand is down. So guess what? The price come down.
Take an economics course before you make such silly accusations. BTW, Obama and his policies will make today’s oil prices look cheap. Be prepared for the worst recession since Jimmy Carter if not even worse than that.