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 ...
"Mets fans (NY Democrats)"
Do you really think so? I've had my suspicions for years, but had nothing to back it up. Hubby's a Mets fan & he's a Republican, kinda blew my theory out of the water.
Well yes and no. The Dow was up to almost 12050.00 and has now dropped back to 11,995.00. So it did "tank" because it dropped about 55 points in an hour BUT it is still trading about 50 points higher then yesterday. So caliming it "tanked" is a bit misleading.
Now instead of celebrating the economy the media is celebrating the number of dead American troops in Iraq.
I am often amazed at the warp sense of history during the Reagan years many have
The time to get rid of RINOS is during the primaries, not crying about them a few days before the election!
"Working class Republican" bump!!
I know, right? Donthca just love how even baseball is political? eeuusshh
Yeah, right now it is at 11994, but it did go over 12 earlier. You are right, it sounds like doom and gloom.
The death count has them jumping for joy this month.
Mega-Dittoes to that!!
I used to watch Joe S. when first came on MSNBC. I think he's slowly going over to the dark side, so I stopped watching. I guess he's drinking too much of the NBC koolaid these days.
Yeah, it got up earlier to 12049.51 before slipping back just under 12 just a while ago after they cashed in some of their gains.
You are so right! That is exactly what they're doing on PMSNBC!
I AM THE RESERVATION
YUM
Now I have to go get lunch!
Did you see the President on O'Reilly?
Anyone who claims to be a solid social and fiscal values conservative, who is offended by liberalism and it's perversion of our founding roots, will be voting. Anyone who claims to have those values that doesn't vote Republican is a stupid inbred MORON and is part of the problem. ANY liberal is worse then 90% of Republicans, and even the RINOs are better then a full out flaming liberal Democrat. Rush is ABSOLUTELY RIGHT in his monologue!!! Rush IS the conservative reservation and so am I and those of you like me!!! The GOP is the ONLY conservative party that can win, and anyone who cares about America, the Constitution, the war, the border, the economy, and traditional conservative values, will be out early voting as soon as possible, and getting everyone they can to vote Republican.
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