The MSM is truly a traitor to the American people.
Posted on 04/06/2010 3:33:25 AM PDT by tobyhill
Oil prices hovered near 18-month highs above $86 a barrel Tuesday in Asia as traders mulled whether a recovering U.S. economy warranted further gains.
Benchmark crude for May delivery was down 20 cents to $86.42 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract rose $1.75 to settle at $86.62 on Monday, the highest since October 2008.
Oil has jumped 24 percent since early February.
Crude had traded between $69 and $84 for about nine months before breaking out last week amid investor optimism an improving U.S. economy will eventually boost crude demand. On Monday, reports showed strong improvements in demand at services businesses and in the housing market.
(Excerpt) Read more at google.com ...
The new healthcare tax will end the optimism about the economy and increased consumption.
The Left’s outrage was all about politics, beating Bush and the Republicans, in truth the radical left wants high energy prices.
bump
And Nannnnnnnceeeeeeeeeee. Where is pelosi on this new outrage? When she ascended to speaker in 2006 I remember her impassioned press conference blasting George Bush for letting gas prices rise to $1.68 per gallon!
And in my city, at least, right before the Nov. ‘08 election gas had dropped to $1.39 a gallon. That, of course, was right after Bush ended the moratorium on offshore drilling.
This is an international market. India, China, and Brazil continue to create millions of new middle-class consumers, whose first thought is to buy a car.
Don’t worry. High gas prices this summer are going to be the new boogey man. Obama’s cue to take over the private evil oil companies.
re: a recovering U.S. economy
I hate to rain on their parade, but any recovery is going to come to a screeching halt when we have borrowed and printed ourselves into disaster and inflation. We’re like a car full of kids, driving down the road at 90 mph, having a ball enjoying the trip, and talking about the fun time they’ll have when they reach their destination. Problem is they are using the gas in their tank, and have no way to buy more. When they run out, the party’s over, and they will be left stranded on the side of the road. The driver knows this, but has not explained it to his paying customers.
If we manage to come through all of this without financial collapse it will mean that are simply are no rules when it comes to economies. We are doing, and have been doing for nearly a decade now, everything that accepted economic wisdom says can only end badly.
We’ll see.
The Government already owns them by regulation. The oil companies can’t as much as sneeze around an oil well without getting fined millions of dollars or even the well shut down. Without so much regulations and restrictions I guarantee gas prices wouldn’t be above a dollar a gallon and home energy cost wouldn’t be above 5 cents a KWH.
This=Think
The inflation will continue till the deficit is washed out.
The only cure to profligate spending is inflation.
The protection is in oil securities.
The MSM is truly a traitor to the American people.
Those “greedy” oil companies and “speculators” are at it again! s/
They are cheering him on.
LLS
They are going to let it rise over the summer. Then with the election approaching, they are going to 1) issue a bunch of phony offshore oil leases which will be retracted later, and 2) haul a bunch of oil futures traders up to Capitol Hill for the Waxman treatment...maybe even prosecution.
This will tank the futures market and bring prices down,
just before the election. Obama can then posture as a genius
and a hero, taking on “greedsters” for the common good.
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