You all knew it was the right thing to do and would only help us.
There are a couple freepers (apologies, their screen names escape me) that can explain the fine line between drilling our butts off and the impact it can have locally as the price drop actually means lower output in the long run (costs more to extract than to sell). I don’t know all the numbers, but we should not be exporting our “energy” or means to produce thousands of products through petroleum. Let the Suad’s twist, let opec fall apart. I’m not talking total isolationism, but I am talking use our own stuff at a price point that keeps our own companies thriving and our costs low; it can be achieved.
Michelle Bachman promised $2 gasoline if she became President. A lot of Freepers scoffed at the idea.
I just got my fuel bill yesterday, and it was down 35 cents a gallon from last month. And last month was down from the previous bill.
I’ll take it!
I heat my house with a wood stove and a pellet stove, partly because it’s cheaper and partly because I’d rather buy local than pay a bunch of Arabs. But, of course, Sarah was right. Drill, baby, drill! Not everyone has firewood in their back yard like we do, and the more of every kind of fuel there is available, the better.
The pellet stove and wood stove involve a lot of work to keep them going. I certainly wouldn’t mind going back to oil heat, if it was good, cheap, American oil. Then all you have to do is sit back and twiddle the thermostats.
I wouldn’t be surprised if hussein turned the EPA and IRS on the oil companies to stop them and help his muzzie buddies.
You all knew it was the right thing to do and would only help us.
However like I told my wife the other day, the lower the cost of fuel/gasoline the more discretionary income the consumer can spend on large ticket items. Sure you know how that cycle works - the more purchased, the more produced. Think inventory build-up and lowered prices which does what? Continues the cycle of expansion.
All our goods are distributed by rail or trucks, even those imported at the docks. Think of the built in price we pay when fuel costs are high and how much less discretionary income we have, and that includes the foreign ship's fuel costs which are huge.
Basic capitalism, which many liberals, most socialists and all communists just can't comprehend. Talk about a rising tides lifts all boats. They prefer we all sink to mediocrity so long as the "gimmes" get their unearned "fair share". Pfft.
Glad the Saudis won't be able to replace the gold on their toilet handles as often. Wish those f*cks would just slink back into their camel-humping days before Western civilization drilled their oil out for them.
The real oil guys will hopefully weigh in but I don’t think the Saudis have “lowered their price”. I think they are continuing to produce and not cutting production in the face of increased supply on the worldwide market. They also aren’t calling on OPEC members to cut production.
If I’m correct, the market is not being distorted by OPEC and/or the Saudis and the price is down due to increased supply.
Lower and middle classes most helped.
Obama hates that part, Rush is right about that.
It makes sense, the more oil we produce the less we need the oil of the terrorists nations.
I’m head-over-heels in love with Rush since Sacramento —some of my UCD profs were buddies with Rush. And Rush is 100% correct about the Supply/Demand effects he’s pointing out here.
But my understanding is that mainly the Saudis want to screw Russia, Iran, and Syria much, much more than they want to screw over USA frackers —Thackney here is our resident, consummate expert, and he has made lots of postings about this:
Everybody on our team is going to want to say the target is US, and it’s actually baddies in the M.E. whom the Saudis want to screw over, and it’s all about Saudi fears of immediate regional security.
I was surprised also to read this.
Rush here also errs in equating Fracking and drilling (”same thing”) and those are not at all the same thing —fracking only occurs *after* drilling.
But again, I’m nuts about Rush.
I used to rollerblade in the parking lot adjacent to where he first started broadcasting in Sacramento, next to the UFO-dome theaters, across from the Sacto fairgrounds.
Not to get lost in the talk about lower oil prices is the rising dollar, the value or purchasing power of the dollar is rising.
We can buy more gasoline, or toilet paper, more food products, a nicer car with our dollars now.
Watch products in the store get larger or 30% more in packaging as time goes on so long as the dollar stays strong and gasoline stays low.
Hope every one noticed since 2008 that packaging of products in stores got smaller ?
Now watch as you see buy 2 for one sales, or 20% 30 % more for the same thing and same price just as few months ago.
The market, stores, manufactures will be forced to lower price by and through competition, the market forces at work.