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 ...
Ooooh, thanks, Chicago!
Conservatives want to stay at home, make GOP suffer, will instead make America suffer instead.
Frighting.
Does anyone have a link to that article Rush was talking about.... re: Republicans staying home rather than vote? I think it was by Tony Blankley? Thank you! :o)
He would probably have liked that. It would have enabled him to feel victimized.
Yeah, and give the Democrats a pass on the past 5 years of a continual Bush-bashing drumbeat, while at the same time, insulting the intelligence of American's in fly over country.
Cal Thomas, George Will, Laura Ingraham, Sean Hannity, Byron York and a slew of others can all KMA.
Pat Buchanan needs to eat worms and die.
Rush is kicking serious @$$ today. Telling it like it is.
I always like to see the debates between him and Scalia. Scalia always makes Stevens look like the lib he his. Of course, Stevens does a good job of that by himself. His advocacy of consulting international law and bringing it in to US courts is sickening!
But the RINOs are cowardly. They want so much to be loved by the 5th column press that they'd sell their own mother to get favorable press. After that first ass-ki**, it just snowballs.
Hagel, that sell out, along with Collins, Snow, McCain and Goober should be expelled from the party.
Or lets start another party, the Party to Defend America.
Post #61 has a link to the thread.
The others I agree. Especially the shameful Laura Ingraham.
I happened to see that Joe Scarborough interview with PJB, and some goober from the left. They were all delusional.
The NJ board was full of people like that too, but it's gotten a lot better. We're all holding our noses this year, but the choice is still clear.
Any Republican that stays home will be throwing their vote for the Carter Policies
He just completely trashed the Republican senate. The more he talks the worse the Republicans look.
I am not surprised. Scarborough is an idiot, Buchanan is a fool.
No thanks.
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