Of Course Bubba aint in the OIl industry!You’re not really blaming Bush for high gas prices, are you? Economically, this increase in pump price is easily explained. OPEC tightened the supply which resulted in an increase in crude oil prices. Refineries, seeing the rise in crude oil price, slowed their production. Distributors and retailers are now buying the refineries reserves, resulting in a decrease of supply. Econ 101 teaches us that a decrease in supply, while demand remains constant, will result in an increase in price. In two to three weeks, the refineries will have to begin to purchase crude oil regardless of whether or not the price has decreased, because their reserves will begin to run low. This increase in production, even at an increased production cost due to the price of crude, will result in an increase in supply and a decrease in the price at the pump. Now, if you can tell me how Bush is doing this to make some money for his cronies, I will be interested.
Yes I am blaming Bush for not doing anything to bring down fuel prices.
What "pressure" is W using to have OPEC increase production?
Given how heavily indebted W is for countries looking the other way to confiscate the magical WMDS in Iraq he is incapable of representing the US in international trade issues.
At a meeting last month our Washington lobbyist ( Yes we have a full time professional lobbyist!) told us that Bush is so indebted to foreign nations for the war in Iraq that as long as Bush is President US companies are wasting time to lobby for help against foreign competitors.
