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Fox Business Host Warns $5-Gallon Gas if Iranian Tension Persists
NewsBusters ^
| June 19, 2009
| Jeff Poor
Posted on 06/19/2009 3:43:36 PM PDT by Rufus2007
Unnoticed in the recent upheaval surrounding the fallout from the Iranian elections earlier this month has been how it could affect the price of oil, and therefore the price of gas. And according to Fox Business Network "Happy Hour" co-host Eric Bolling, the longer this goes, the more likely you'll see it at the gas pump.
Bolling appeared on the Fox News Channel's "Your World with Neil Cavuto" on June 19 and explained how events in Iran, the world's fourth largest oil-producing nation, would have a lagging impact on the price at the pump.
"Now think of this - it takes about 45 days to take a barrel of oil, run it through a refinery and hit the pump, the price at the pump," Bolling said. "So knowing this, for the next two or three weeks, at least, at minimum, pump prices will continue to rise. It may go down a penny or two here, but in general they'll continue to rise."
...more (w/video)...
(Excerpt) Read more at newsbusters.org ...
TOPICS: Business/Economy; Foreign Affairs; Government; News/Current Events
KEYWORDS: ahmadinejad; cavuto; energy; gasprices; iran; iranviolence2009
Time to break out the bicycles for Iranian freedom...
1
posted on
06/19/2009 3:43:37 PM PDT
by
Rufus2007
To: Rufus2007
But if they get Nutjob out of the way...maybe gas would go down to 1.75 cents?
2
posted on
06/19/2009 3:45:25 PM PDT
by
Dallas59
("You know the one with the big ears? He might be yours, but he ain't my president.")
To: Rufus2007
I just knew this whole Iranian protest thing was nothing but a scam set up by mid-east oil interests to suck more money out of us.
3
posted on
06/19/2009 3:48:51 PM PDT
by
Riodacat
(Legum servi sumus ut liberi esse possimus.)
To: Rufus2007
Let it happen. They will not sell gas...just like last time they tried to “hose” the American public. Let them choke on a huge oil glut then we will see how Imanutjob funds his nuclear weapons program....
4
posted on
06/19/2009 3:51:42 PM PDT
by
EagleUSA
To: Rufus2007
Whatever. I will gladly stop driving as much to see a new Iranian government. Not going to be scared out of supporting desires for freedom.
5
posted on
06/19/2009 3:53:24 PM PDT
by
Arkinsaw
To: EagleUSA
I think they sell only oil. They import the majority, if not all of their gasoline.
6
posted on
06/19/2009 3:56:12 PM PDT
by
zipper
To: Rufus2007
Meanwhile, on CNBC, their commentator on oil markets, a guy named Armstrong, said that there was not discernible price movement because of the Iranian unrest.
Tough to know who to believe....but I would go with CNBC so far ...... 1] we do not buy Iranian oil, 2] there hasn't seemed to be a spike in the barrel price since the unrest started, and 3] Armstrong has a pretty good track record.
7
posted on
06/19/2009 3:57:35 PM PDT
by
HardStarboard
("The urge to save humanity is almost always a false front for the urge to rule - Mencken knew Obama)
To: Rufus2007
8
posted on
06/19/2009 3:59:38 PM PDT
by
silentreignofheroes
(If I had any further to go,I'd be there.)
To: Rufus2007
9
posted on
06/19/2009 4:03:05 PM PDT
by
fullchroma
(I want my country back.)
To: fullchroma
Just DOO
Drill Our Own.
My saying.
10
posted on
06/19/2009 4:16:24 PM PDT
by
edcoil
(Just living the dream -- work'en the Journey...)
To: Rufus2007
we sell GASOLINE to Iran!!! raise it to $100 a gallon to them.
11
posted on
06/19/2009 4:20:19 PM PDT
by
Chode
(American Hedonist - Obama is basically Jim Jones with a teleprompter)
To: HardStarboard
It doesn’t matter if we buy Iranian oil. It’s a worldwide commodity.
If the unrest spirals out of control, then well see a spike due to uneasiness. The price is now being depressed by the weak economy at the same time as upward pressure due to the weak dollar.
I imagine the mullahs will clamp down hard this weekend and that will be the end of it.
12
posted on
06/19/2009 4:20:41 PM PDT
by
Jeff Chandler
(The University of Notre Dame's motto: "Kill our unborn children? YES WE CAN!")
To: fullchroma; All
Drill Here! Drill Now!
Yes we must step up our drilling ASAP. There is a lag time of 4-5 years between the time you strike oil and the time that oil can be refined into gasoline or diesel. When gas prices came back down below $2.00/gal from a high of about $4.50/gal a lot of the cries for drilling went silent. THIS IS WRONG AND FOOLISH. We cannot let the daily price affect the long term supply implications.
This is a security matter. We must have more sources of oil. We have much oil in ANWAR and offshore on all three coasts. We also have shale oil. We must go after it. We must not waste any more time. Drilling for oil offshore is safe and that's probably where most of the oil is.
Let's not be foolish and think that we cannot get into another oil crisis. If we have an oil disruption it will kill any economic recovery we might have.
13
posted on
06/19/2009 4:33:30 PM PDT
by
truthguy
(Good intentions are not enough!)
To: Rufus2007
HMMM?? Wonder how are the democrats going to blame this on Bush and his crony friends raising the price of gas?
To: chris_bdba
It was $1.67 a gallon when Bush left office.
To: Rufus2007
BS, just speculators screwing you, Iran imports gas and they damn sure are not using a whole lot with the cities in gird lock.
To: zipper
17
posted on
06/19/2009 6:42:58 PM PDT
by
NVDave
To: chris_bdba
Wonder how are the democrats going to blame this on Bush and his crony friends raising the price of gas? Easy: Bush/Cheney/Halliburton/BigOil.
Time to nationalize the oil companies.
18
posted on
06/19/2009 7:15:56 PM PDT
by
Jeff Chandler
(The University of Notre Dame's motto: "Kill our unborn children? YES WE CAN!")
To: Riodacat
"I just knew this whole Iranian protest thing was nothing but a scam set up by mid-east oil interests to suck more money out of us."
quote of the day!
for those that are slow.. it is a pun on Iraq.
19
posted on
06/19/2009 8:07:20 PM PDT
by
Steve Van Doorn
(*in my best Eric cartman voice* 'I love you guys')
To: Rufus2007
Fox should stick to covering celebrity scandals and “when news attacks.” I can’t afford $5 gasoline and neither can most other people. The market isn’t there for gasoline at that price in the middle of a recession.
20
posted on
06/19/2009 8:21:38 PM PDT
by
mysterio
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