Posted on 06/14/2012 8:03:14 AM PDT by izzatzo
CNBC HOST: Donald, you see the OPEC news this morning? Venezuela wants OPEC to stop pumping more, overproducing, they are saying, that, because Saudi Arabia is pumping above the limits it's supposed to be doing to help us out a little bit and Venezuela is complaining and right now you're looking at oil prices at about back around $82.
DONALD TRUMP: That's still very high, Becky, they should be at $30 if you look at free market. I think Saudi Arabia is doing Obama a big favor. Look, you have to do be a favor, I have to get elected, you can't do it like you've been doing the last three years driving it up to $150 because that's where it's going and I think Saudi Arabia is doing Obama a big fat favor. I think he asked for the favor and prices are coming down, but also the economy's going bad so maybe it won't help that much. but as soon as -- assuming if Obama got elected, you're going to see something with oil like you've never seen before, it will go through the roof. The favor will be repaid many times over
(Excerpt) Read more at breitbart.com ...
I think The Donald is blowing smoke on this one. While crude prices have declined from their peaks earlier this year, this is due to the worldwide economy, including ours, going into a swoon. China, India, almost all of Europe, and increasingly the U S of A appear to be in the second dip of the feared “double-dip” recession, which, in the case of ours, will probably eventually be correctly blamed on the earlier surge in oil prices.
The majority of the recessions striking our economy since the seventies, in fact, have been caused by energy price spikes, or such spikes were at the minimum a major contributing factor.
Besides, the $3.75 I paid to fill up here yesterday traveling through Idaho Falls sure as hell doesn’t fit my definition of “low”.
LOL!
Another trade-off is likely Obama's continuing efforts to plant and cultivate Islam here in America.
Do you get the feeling that this has all been well planned, years in advance?
The world is lucky that I don’t have the computer skills to do photoshop, much less video.
Now now, don’t you remember? Pelosi promised that we would “NEVER see three dollar gas again”. It’s just us stupid proles who didn’t realize she was talking about it being ‘greater than’ instead of ‘less than’ :-)
What was it when the Dems took over congress?
Now now, don’t you remember? Pelosi promised that we would “NEVER see three dollar gas again”. It’s just us stupid proles who didn’t realize she was talking about it being ‘greater than’ instead of ‘less than’ :-)
What was it when the Dems took over congress?
—Saudis no longer control the price of oil. After it was commoditized OPEC lost any control over oil prices. It’s now supply, demand and speculation that control the price.—
I tend to agree with that. We are also in the biggest oil and natural gas boom in the history of mankind. The myth of peak oil has been utterly outed. The only limitation on production is our ability to extract it and EPA regulations.
Exactly!
He's the tool, it's the master craftsmen in the background with the blueprints that we should concern ourselves with.
The bastards have their Obama/Progressive boot on the neck of America, its people, and the entire world.
—Saudis no longer control the price of oil. After it was commoditized OPEC lost any control over oil prices. It’s now supply, demand and speculation that control the price.—
Oh, and Thomas Gold is looking to be correct about abiotic oil. If true, that is a game changer too.
Indeed.
When oil was $90+ local gas was $3.59, now at $81 gas is back up to $3.89.
You are on the right track. the price of oil has had little to no effect on the price of gas lately. I wold suspect something else is causing the price of gas to stay high. First thing the Romney admin would need to look at if elected is the EPA!!!
When oil was $90+ local gas was $3.59, now at $81 gas is back up to $3.89. - Beagle8USomewhere out there, there must be a chart which documents that disparity in pricing during Obama's tenure and may prove to be politically useful during this election cycle.
According to Canada’s Globe and Mail, “319-day news: the within a few days, Saudi Arabia has hired a large number of supertankers, the number is huge unheard of. A few weeks later, the tanker from the world’s largest oil port – tower Nu pull Hong Kong to start, start the 40-day voyage, the end of the U.S. Gulf Coast.
Its goal is clear – and lowered oil prices.
This is somewhat true but demand was still high. Two things changed that: reduced demand here and the Chinese economy going down the crapper, thus less demand there as well.
The Canadians will not be amused.
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