Posted on 06/21/2012 2:47:31 PM PDT by scooby321
Obama figured if he crashed the economy this summer he could lower prices at the pump. He can still blame the economy on Bush this way.
It was nothing more than a phone call.
Gas prices are the silver bullet come the fall. Everyone who said Obama was responsible for the high gas prices will now be treated to look how much Obama lowered prices.
If you think $1.80 under Bush was good, wait till you see prices in October.
If you notice Obama’s butt buddies in Saudi Arabia are still pumping “flat out” trying to save the “boy wonder”.
Gas being cheaper is just a result of the dollar being so high relative to the other currencies lately. All the commodities are lower (priced in dollars) these past weeks. All thanks to the Euro financial crisis. Don’t worry, what goes around comes around and it’ll happen here sooner or later. California is just a bigger version of Greece. The dollar will cease to be a flight to safety currency and will be seen as just paper as the US inflates itself out of debt.
Kerry accused Bush of the same tripe. The world economy is in the toilet, thus lower fuel prices.
http://alajnabee.wordpress.com/2012/06/04/can-saudi-arabia-flood-the-market/
The Saudis haven’t moved against the oil markets? Last year they pumped about 8.5 million barrels a day (b/d). Because of disruptions and anxiety surrounding a possible strike on Iran, they are now pumping 10 million b/d, all in an effort to push down prices. Cooper says the Saudis might flood the market in order to turn the screws on Iran.
I hope they drop another $.50 a gallon by July. I need to haul my boat out to Florida.
Oil down to $78.29 http://www.livecharts.co.uk/MarketCharts/crude.php
I’m still waiting for the executive order to add $100 in gas credits on everybody’s EBT card every month.
No doubt the Saudis just luuuv them some bamster and would gladly pump more oil to help his reelection.
But based on the value of the dollar going up (from about 0.79 a few months ago to as much as 0.83 lately). All the commodities — gold, silver, copper, aluminum as well as agriculturals — have gone down in lockstep. I watch this shit every day and make my trading moves accordingly.
Just my humble opinion, for what it’s worth (about what you paid for it!)
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