If the price of oil continues to crash, the very little drilling in the US that remains will be shut down and our oil companies and oilfield workers will suffer.
BS... the factories I work with here in the US are so busy they can’t keep up with demand. Businesses are starting to spend money... they want the product and they want it now. Methinks it’s because they know Obama is toast.
The oil market was another bubble that popped. Supply exceeds demand and the price drops.
The Marxist knows he had no chance of winning with $4.00 a gallon gas.
the price will continue to drop until Nov 6 .. people need to get a clue
I suspect these declining prices can be tied to the strengthening of the U.S. dollar in recent months as Europe is facing a disastrous collapse.
I recall Zer0 threatening to tap the SOR. Did he do it?
The volatility of the Middle East just went up another notch or two when the new leader of Egypt announced the capital will eventually be Jerusalem. Looks like deja vu all over gain.
I believe the Saudis have owned our presidents since the first Bush. Someone is sponsoring all the muslims moving here and buying franchises that most Americans can’t afford. And us buying their oil instead of drilling for our own is how they pay for it. Saying you want to drill and not drilling brings zero barrels of oil out of the ground.
I caught some newsie commentator a few weeks ago say that the decline in oil/gas prices was due to the declining (world) economy.
That doesn’t make since. It was NOT a roaring economy that sent the gas prices over $3 and nearing $4 due to demand.
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Gas prices started falling when, supposedly, there was talk of Obama going to release oil from the Strategic Reserve. [Did he, or was it just pre-election rhetoric?]
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Something else is behind this recent decline.
One article a couple of weeks ago said that Obama had made a deal with the Saudi’s to reduce oil prices until after the election.
That sounds more likely.
My wife works in a factory. She had mandatory overtime everyday last week, one day was 12 hours.
They’re backing off a bit this week, but it’s mandatory overtime today.
Whatever the reason for the decline, you can be sure that Obama will take credit for it in the campaign.
And you can count on any economic numbers that the government produces to look increasingly rosy as we approach November.
The only way Obomba can win is to lie every time he opens his mouth. Of course, that’s the one thing Obomba is really good at.
Oil prices are falling because, despite the fact that people have free time thanks to the 0bamunists ecnomics making them unemployed, they can’t afford to go anywhere, so demand has dropped.
Oil Prices are a joke, worldwide we are using less oil per day than we were a decade ago, but the price keeps going up, well beyond the rate of inflation.
Its a speculator driven market, has nothing to do with demand and supply anymore.
The fall in oil prises is for the November election. They will rise right after it is over.
People who think that Obama has some secret power to intentionally control gas prices are exactly as goofy as the people who thought Bush had that power.