Oil price decline: likely OPEC/Obama conspiracy

[Danglars]

To the extent they can control events, I'd bet anything that the recent decline in crude prices (and hence car gas) is Obama's OPEC buddies (especially Saudi Arabia) helping him out--because they want him, a weak fish and Israel-hater. Then after November, if you thought we were being screwed on gas prices before--well, you ain't seen nothin' yet.

Saudi Arabia wanted a production increase at the most recent OPEC meeting and Iran wanted--predictably, given its embargo-induced decline of about 200,000 barrels a day--a decrease for all OPEC countries. They all ended up holding at a cmobined 30,000,000 barrels, but actual output since the last OPEC meeting was more around 33,000,000 barrels. SA is broadly hinting that it'll probably be putting out more than even that over the limit.

And I do think it's all to help the fascist in the WH. Hell, they need only take a little hurt until November. Then we'll be soaked on gas and oil prices no matter who wins.

[thundley4]

Another part of the decline in prices is directly attributed to much lower demand both here and in Europe.

[Danglars]

Another part of the decline in prices is directly attributed to much lower demand both here and in Europe.

Not saying that's not part of it, but this still smells to me, Thundley.

[thundley4]

True, but then again, Muslims aren't all too thrilled with Obama's continued use of drones to kill fellow Muslims.  OTOH, they know Romney will be worse in regards to the treatment of enemies. (I hope.)

[FiddyBeowulf]

I think the Saudis would rather have a strong US with Romney in charge rather than a feckless turd like Obama. Also, the Saudis may be expecting a crash on oil prices and are trying to maximize profits now before it hits.

[Kyle Ricky]

I agree that this sudden drop is a ploy to try and get him re-elected. You watch, he will lift the moratorium in the gulf, and come November, prices will be back down just under $2.00 a gallon and he will be on TV bragging about what he did. As soon as he is re-elected the prices will skyrocket again because the first thing he will do is put the moratorium back in place.

Even all the liberal morons claiming that there is nothing a President can do about gas prices (well as long as a liberal is in office anyhow), will be praising Obama in the streets because of how Godly they say he is.

[DumbAss Tanker]

Thundley is right, and really the economic doldrums is far and away the single big reason for the gas prices (Which still suck, they just suck less than they did).  The producers programmed for a normal cyclic recovery, but the brilliant economic policies of the Constitutional Scholar and his Leftist Keynesian advisors have pretty successfully shot any recovery in the ass, accomplishing the almost-impossible task of even shooting China's growth in the ass as well since the people who normally buy their shit (Like us) aren't buying nearly as much this past couple of years.

The Saudis don't owe anything special to Obama, they don't like selling oil cheap any more than we like buying it expensive.  They are pretty realistic political thinkers and got on just fine with the Bushes and Clinton, but they know damned well how erratic and unpredictable Obama is.  The Arab Spring and his hi-jinx trying to sell out Karzai after the last Afghan national election have shown them what a total buddy-****er he is.  They really aren't stupid enough to trust him or want him re-elected.

[thundley4]

Plus, Iraq isn't selling hardly any of their oil, and even that isn't causing prices to rise because demand is so low.