That is how these little Mom & Pops make money and to some degree the larger chains. The drop in crude won’t translate to lower prices at the pump until late Aug. or early Sept.
What is really bogus about this article is that Reuters is trying to really push the “lower demand” angle. It just so happens that the decline in crude began when Bush repealed the ban on drilling. I suppose it was just a coincidence. The media really are the enemy. :)
Not coincidence at all. Demand has been falling for 13 straight weeks. Bloomberg had the story on their energy prices page for about a grand total of four hours. And they got rid of THAT in a big hurry.
But the price has been rising for those very same 13 weeks up until about a week ago. That is not supply and demand, that is speculation. The President talked about and then lifted the Executive order on offshore drilling. In those two weeks prices crude dropped $24-$25 a barrel. Seventeen percent! That is not supply and demand.
Some will say (Bloomberg) that it is because the Saudis increased production. Nope. They did that weeks before the President talked about and then lifted the Executive order on offshore drilling. Prices never flinched, they just kept right on climbing.
In other words, as soon as there was just a HINT, just a whispered rumor, that the United States might actual tell the likes of the communists (referred to in pee-cee circles as “democrats”) to pizz off, we are going to actually (gasp) drill for crude oil, the price of crude dropped like a rock.
Now is when we need to beat the drum in front of Nutjob Nancy's tent and make everybody look at her when she proclaims "I have no plans to do so," referring to scheduling a vote to lift an offshore drilling ban.
We need people to KNOW that the economic health and national security of the United States is going into the toilet because of one sociopathic nutcase. Nutjob Nancy.
We need to take up a collection and have a straightjacket with her name embroidered across the back delivered to her on the floor of the Senate.
Just imagine what would happen to the price of crude if we,… hang on…, actually did something, like explore and drill offshore on the continental shelf ?