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Oil prices pass $132 after government reports supply drop (Thanks to DemocRats, Moderates & Greens)
AP on Yahoo ^ | 5/21/08 | John Wilen - ap

Posted on 05/21/2008 9:10:04 AM PDT by NormsRevenge

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To: NormsRevenge
Many investors believe the dollar's protracted decline over the past year has been the most significant factor behind oil's rise from about $66 a barrel a year ago to today's highs.

The dollar's decline IS the biggest factor in the price of oil.

Unlike the '70s, I have seen NO SIGNS of any shortages.

The Senate is pointing fingers at big oil to distract from their mismanagement of our currency.

61 posted on 05/21/2008 10:04:31 AM PDT by JPJones (Cry havoc and let loose the Freepers!)
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To: JRochelle
This story proves that the price has to do with the traders, in large part.

Good news? Oil goes higher. Bad news? Oil goes higher.

That's what I have been saying for the last month, but nobody seems to believe me.......also, No News? Oil goes higher.......

Just like the (D)umb Party, Economy Good? Raise taxes. Economy bad? Raise taxes. Economy flat? Raise taxes..............

62 posted on 05/21/2008 10:06:13 AM PDT by Red Badger ( We don't have science, but we do have consensus.......)
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To: JPJones
I have seen NO SIGNS of any shortages

That's because the pipeline holds a fair amount, perhaps a month or two of buffer. Down 1.5 hours world supply wouldn't show up at the spigot end.

63 posted on 05/21/2008 10:08:39 AM PDT by RightWhale (You are reading this now)
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To: verga

And I will never Forget that week that John McCain stood on the Senate Floor in that Five Day Filibuster, Pleading for the Democrats to Vote to Drill ANWAR. /Sarcasm


64 posted on 05/21/2008 10:09:50 AM PDT by trumandogz ("He is erratic. He is hotheaded. He loses his temper and it worries me." Sen Cochran on McCain)
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To: netmilsmom

Good for you! It does work and they come in handy on those RV trips.


65 posted on 05/21/2008 10:10:06 AM PDT by Beagle8U (FreeRepublic -- One stop shopping ....... Its the Conservative Super WalMart for news .)
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To: popdonnelly

The reason is worse than that.

Socialists are only able to sieze control of a country in economic termoil, and my friend is why they have stuck to their plan.

The socialists in America are on the verge of seizing control of our country.....


66 posted on 05/21/2008 10:11:12 AM PDT by stockpirate (A nation that does not honor it's warrors, will be defeated by one that does.......)
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To: NormsRevenge

$56 per barrel when Bug-Eyed Bela was installed as speaker.

Passed the $132 mark today.

Even those in Rio Linda know that is 1 1/2 times more than it was...and in only 17 months. Great work with that “plan”, Democrats and their enablist RINOs.

And what was that plan? Run democrats as more conservative than Reoublicans. Donkey Dogs, Blue Dogs, whatever. It gave power to the Far Left, the mainstream of their party. I remember that victory smile from Upchuck Schumer, Bela Bug Eye and Dingy Harry, watching Election 2006 from India. I wanted to stay there.


67 posted on 05/21/2008 10:11:21 AM PDT by Christian4Bush ("In Israel, the President hit the nail on the head. The nails are complaining loudly." - John Bolton)
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To: 4yearlurker

NO INCUMBANTS!


68 posted on 05/21/2008 10:11:22 AM PDT by devistate one four (Nam 67-68)
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To: NormsRevenge
Yesterday:

House passes bill to sue OPEC over oil prices

FINAL VOTE RESULTS FOR ROLL CALL 332
      H R 6074      2/3 YEA-AND-NAY      20-May-2008      1:28 PM
      QUESTION:  On Motion to Suspend the Rules and Pass
      BILL TITLE: Gas Price Relief for Consumers Act

  Yeas Nays PRES NV
Democratic 221 2   12
Republican 103 82   14
Independent        
TOTALS 324 84   26

==

Last week:

Bush administration bars drilling in Arctic wetland
 
05/19/2008 5:21:51 AM PDT · by thackney · 71 replies · 1,265+ views
Reuters ^ | May 16, 2008 | Yereth Rosen
ANCHORAGE, Alaska (Reuters) - The Bush administration on Friday proposed keeping potentially oil-rich wetlands in Arctic Alaska off-limits to drilling because of their ecological sensitivity, a reversal of its earlier plan. The Bureau of Land Management proposed a 10-year leasing moratorium for 430,000 acres of wetlands north and east of vast Teshekpuk Lake in the National Petroleum Reserve-Alaska. Environmentalists and local groups hailed the decision. "This plan provides a balanced approach to energy development and wildlife protection, and forms a solid basis for the Bureau of Land Management to proceed with an oil and gas lease sale later this year,"...

69 posted on 05/21/2008 10:11:55 AM PDT by TomGuy
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To: RightWhale
That's because the pipeline holds a fair amount, perhaps a month or two of buffer. Down 1.5 hours world supply wouldn't show up at the spigot end.

So in a month or two when "the buffer" is empty, there will be shortages?

In the '70s there were shortages, it was painfully evident, there is NOTHING like that now.

The problem is elsewhere.

70 posted on 05/21/2008 10:13:26 AM PDT by JPJones (Cry havoc and let loose the Freepers!)
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To: NormsRevenge

Don’t like the prices, just sue OPEC. /s


71 posted on 05/21/2008 10:13:59 AM PDT by tobyhill (The media lies so much the truth is the exception)
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To: NormsRevenge

The media and our politicians bemoan speculators in the oil patch but their attitude and their policies provide an absolute “risk free zone” for speculators given the dynamics of the oil industry! It really is just amazing that we’ve been grappling with this for, really, several decades yet our politicians just stick to the same WRONG policies and playbook... cheered on by the stupid Mainstream Media.


72 posted on 05/21/2008 10:14:04 AM PDT by ReleaseTheHounds ("The demagogue is one who preaches doctrines he knows to be untrue to men he knows to be idiots.")
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To: SoldierDad; NormsRevenge

It is not speculators and the futures. If the supply of oil were to rise or the demand fall the price per barrel would drop. Speculators are only speculating on what they think conditions will be; they don’t determine what they will be.

Why don’t you blame it on a very weak dollar instead along with high demand and intentionally limited supplies.


73 posted on 05/21/2008 10:14:17 AM PDT by Lord_Calvinus
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To: StormEye

I heard today that all three candidates are in the can for cap and trade bs. The cost of which will be $1.50 per gallon when this crap passes into law!
Just when it couldn’t get any worse.

NO INCUMBANTS is our only hope


74 posted on 05/21/2008 10:16:09 AM PDT by devistate one four (Nam 67-68)
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To: Lord_Calvinus
Speculators are only speculating on what they think conditions will be; they don’t determine what they will be.

The Hunts proved that wrong with silver a couple of decades ago. The bubble popped, but not before the price per ounce rose to $50.

75 posted on 05/21/2008 10:17:03 AM PDT by dirtboy
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To: Arkansas Toothpick

Eventually the bottom is going to fall out.


76 posted on 05/21/2008 10:17:03 AM PDT by Perdogg (Four years of Carter gave us 29 years of Iran; What will Hilabama give us?)
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To: Gabz

Yikes!

We have this trip, Fourth of July back in Cleveland for my namesake’s 1st birthday and one more “Family Camping” trip.

Cha-ching.


77 posted on 05/21/2008 10:17:17 AM PDT by netmilsmom (I am Ironmom. (but really made from Gold plated titanium))
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To: Blood of Tyrants

Even if they were to allow drilling in ANWR today, it would take years to start drilling and to see any of that oil on the market.


78 posted on 05/21/2008 10:18:56 AM PDT by Perdogg (Four years of Carter gave us 29 years of Iran; What will Hilabama give us?)
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To: NormsRevenge

“Thanks to DemocRats, Moderates & Greens .. and Speculators”

and GWB...

May 18 (bdnews24.com/Reuters) -

“The Bush administration on Friday proposed keeping potentially oil-rich wetlands in Arctic Alaska off-limits to drilling because of their ecological sensitivity, a reversal of its earlier plan.

The Bureau of Land Management proposed a 10-year leasing moratorium for 430,000 acres of wetlands north and east of vast Teshekpuk Lake in the National Petroleum Reserve-Alaska.”


79 posted on 05/21/2008 10:19:01 AM PDT by kellynla (Freedom of speech makes it easier to spot the idiots! Semper Fi!)
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To: NormsRevenge

“Good new” drives up prices. What does that tell you about who’s running up the price of oil? And I still smell Soros and his ilk behind this run up.


80 posted on 05/21/2008 10:19:30 AM PDT by Thebaddog (Dog breath? I don't think so.)
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