The price of oil will not come down until W tells Ben-Ben to quit printing more money and hedge funds become more transparent coinciding with increased domestic output from offshore, shale, ANWR and building more nukes.
Let’s see, one ideology/party wants to continue to grow the economy, increase our lifestyle, and spread capitalism to the benefit of all,
the other party wants to destroy your lifestyle, destroy capitalism and the economy, collectivise everything, and place themselves in authority over you.
Now, what’s the “bi-partisan” solution to that?
Sometimes one has to wonder if the Liberal Congress is purposely finding ways to screw up our economy so they can buy stocks prior to the November elections...and then sell when the economy “magically” improves.
This is logically, rationally and even grammatically ridiculous.
IMHO, we're only now starting to see the take off of the credit bubble bursting and deflationary pressure like never seen before added with continued significant inflation with food and energy.
Ben-Ben just keeps printing money and major banks have cut their throats with over leveraging w/ respect to the derivatives BS game.
Along with that, Congress still does nothing to increase domestic production of energy sources and sleeps as the dollar continues its slide.
2007 holiday season retail numbers were flat to negative......it will be 3-5 times as bad this season.
You seen any numbers yet on gasoline consumption for the past 4th of July vacation week? Governments will raise taxes immediately after the Nov elections to compensate for increased fuel costs and food costs further pulling money out of the pockets of consumers.
Apparently everyone but Congress has figured it out, which is why Congress' approval rating is now in single digits.
On the other hand, they're continuing to become richer and more powerful on our tax dollars, and we keep voting for them, so what do they care whether we like it or not?
One big difference you notice in the small cars of today vs those of 1965 is that the new ones are a thousand pounds heavier. In an age with carbon fibre and other fabulous new materials, that is inexcusable.
The technology to find, drill and recover oil has evolved tremendously. Careless drillers fear tort lawyers more than government regulators. The claim that the oil companies are sitting on leases and not drilling defies all logic. With oil at $135 per barrel and drilling rigs renting at $300,000 per day, there are no idle rigs anywhere... Your claim that any oil we drill for now will not come on line for five years or longer -- and will thus have no effect on prices today -- is incorrect. Unlike past oil crises, where the spot price of oil (that is, today's price) rose more than forward prices, the oil price for delivery in 2012 is trading at $138 per barrel. The market is sending a clear price signal that our problem is in the future -- because we do not have the will to curb demand or increase supply... Efficiency is a huge source of new energy. It is scandalous that we have let the mileage standards decrease over the past 25 years. Whether through mandates or tax policy, active government intervention is needed. Republicans have to stop acting as if the "market" is some pristine state of nature that is not subject to active shaping.