I heard from the American people.....ahhhhh....They’re hurting and I wasn’t going to let that go on any longer. So....ahhhhhh..... I had o put my foot down and demand lower oil prices. I’m the president......ahhhhh....it’s my job to slap down big oil.
Guess who is going to say that.
IF that happens, it will only enforce my beliefs that this administration has had the prices artificially high to try & stopp all cars.
——if so, watch The One try to take credit-—
Obama kept saying we couldn’t pump our way out of the problem of high gas prices, but it seems we are doing just that,in spite of him.
It figures he'd keep is fat nose out of things to get the price of gas down. Watch it hit $6 a gallon within a year after his re-election.
The oil price was over cooked in 2008 when it was at $147 when it should have been in the 90’s. The oil price crashed with the crash of the economy in 2008 because of the decrease in demand. If you track the oil price ever since vs the Dow you will see that it tracks right with it. IMHO the only thing that will cause the oil price to crash down to really low levels will be a crash of the stock market.
Most of the new sources of oil that are coming on the market are a result of new technology’s that are very expensive and if oil prices sink too low drilling in these new fields will cease.
I read or heard on TV this is a BO/BS stunt for now to get votes for Nov. All bets are off after that.
Now you know why Obama begged Putin for some space/time, until after the election, to play ball. Obama, if re-elected, intends to make it administrative policy to boost oil prices.
Probably won’t happen. I can see $75ish but the cost of production is higher than the 20s.
In a panic of selling the futures may fall to the 40s but it won’t stay there.
Even Mexico has a growth rate of 4.5%. Yes, Europe and the U.S. are sucking wind right now and China seems to be poised to follow. The latter could cause a serious drop in prices.
Low prices, for the first time, are not a good thing. Low prices could help oblabla stay. To get rid of the POS I’d be happy if oil hit $200 but it won’t.
Markets are like the seasons in a way. Last summer was one of the two hottest and driest on record here in Texas. Records don’t happen very often and don’t last that long. Most things return to the norm or equilibrium when outside or artificial forces are removed.
Over the last 35 years we have endured many price crashes in oil and surfed the highs. Neither of the two events usually last very long (’86 to ‘94 was devastating, ‘98 was short lived and the reactions proved foolish, 2001 was imposed by external forces, 2008’s rapid increase was a panic and it did a lot to precipitate the Great and ongoing Recession) and people always panic and attempt to extrapolate the current point of events far into the future. They have always been wrong in the long haul.
If drilling in shale oil ends or slows much I believe production will fall pretty quickly. I believe I have more learned company in that view than there are those who think the declines in production from wells will be slow.
Response: Abzolutely true.
Comment: A major point against "The Divine One" was the price of gas. Every potential voter had to face the price at the pump and that served as a reminder as to how inept the clown really is. So now he can crow as to how he lowered prices and the degenerate public will kneel in worship!
Well duh! It was artificially inflated to make Bush look bad and now that it is an election year, it is being depressed to aid the RATS.
Kevin Freeman Economic Terrorism
Explores the 2008 market collapse with the electronic draw down on money market accounts as just one recent act in several acts of economic terrorism. That it took place on the seventh anniversary of 9/11 is no coincidence.
When most of us think of acts of terrorism we imagine car bombs or hijacked airliners. Kevin Freeman compels us to think again. He explores the dimly understood world of financial terrorism that ultimately underwrites the steady progress of jihad against America and its allies.
Oh s##t. I hate having to pull for high gas prices until November but whatever it takes to get Barry the bastard out is fine by me.
If we do see $2.00 dollar a gallon gasoline, I’m going to enjoy watching an awful lot of people apologize to Representative Michele Bachmann.
“Oh we’ll never see $2.00 dollar a gallon gasoline again.”
“Why she’s just an idiot. She can’t lower gas prices. It’ll never happen.”
“I used to back her, but this preposterous claim is the last straw!”
“My mom out in California is elated”
...I hope that “elation” doesn’t translate into votes from others for the kenyan. Gas was less than $2.00 when he stole office.
“Dry land is not just our destination, it is our destiny!” —”Deacon,” “Waterworld”
If oil goes down that much, production will be shut down and dismantled. Bonds may shoot up initially, but general bond collapse will follow. TEOTWAWKI will have arrived.
This isn’t all good news.
First of all, it means the recession is much worse than reported.
Second, a crash in commodities will smash a lot of people. Farmers, workers in North Dakota, etc. will be out of work.
There is a HUGE commodity bubble. When it bursts, I don’t know of any more safe harbors. The PTB will be forced to admit we are in a deep recession.