Posted on 10/18/2006 9:03:11 AM PDT by MNJohnnie
http://www.freerepublic.com/focus/f-news/1720277/posts
Why Gas Prices Dropped money.cnn.com ^ | October 16 2006 | Nelson D. Schwartz
Posted on 10/16/2006 10:31:49 AM CDT by kellynla
(Fortune Magazine) -- If the recent plunge in gas prices is the result of a conspiracy by President George W. Bush to help the Republicans retain control of Congress, as 42 percent of Americans believe, according to one Gallup poll, a lot of Wall Streeters wish they'd been in on the plot.
So what really drove prices down - if not an Oliver Stone-worthy scenario involving the Commander-in-Chief, the House of Saud and Secretary of the Treasury Hank Paulson cajoling his cronies at Goldman Sachs to sink the crude market?
By late summer, hedge funds and other investors had poured billions into long positions in oil, gasoline, natural gas and the rest of what traders call the "energy complex," all betting on a replay of the severe 2005 hurricane season that sent prices soaring in the wake of Katrina and Rita. But one day after oil reached a monthly high of $76.98 a barrel on Aug. 7, government meteorologists downgraded their hurricane forecast and cautioned that a repeat of 2005 was "unlikely."
That announcement, combined with the end of the summer driving season and a recalibration of the Goldman Sachs (Charts) commodity index that reduced the weighting of gasoline, prompted speculators to head for the exits even faster than they'd piled in.
The switch in Goldman's basket of commodities had been previously announced by the firm, but that didn't stop the conspiracy theorists.
(Excerpt) Read more at money.cnn.com ...
http://www.jasoncann.org/radio.htm
http://radio.findanisp.com/radio-shows-on-air.php
PING!
Thanks for the ping...CAWats has a Rush thread going also.
Morning Johnnie.
I coulda made it in, but I just didn't have the will...
Nice win last night.
Thanks for the ping!
Just had a GREAT IDEA! Let's start calling President Bush "Our Dear Leader" and watch the DUmmies' heads explode!
Greetings!
Thanks for the ping...CAWats has a Rush thread going also.
______
Oh, really? Somebody stepping on Johnnie's turf? Perhaps he needs an offer he can't refuse?
Of course, he might be nicer than MNJ...perhaps I saunter over there and check it out...
HERE!!!
This is a duplicate Thread Please go here.
http://www.freerepublic.com/focus/f-news/1721601/posts
So how is the Dear Leader today?
And I'll not forget all the air time Rush gave to Buchanan in the 92 campaign.
Present, and ROFLMAO every time the libs start crying when one of their talking points backfires. (Like the gasoline prices.)
Oh, I think Dear Leader is doing mighty fine!
Love that stamp!
VOTE REPUBLICAN....
The other thread was pulled.
Hey all.
Acutally, this is the current thread. The other has been zapped.....
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