The Conservative Cave
Current Events => Political Ammunition => Topic started by: Chris_ on July 15, 2008, 05:37:08 PM
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Bush Says Drill, Drill, Drill — and Oil Drops $9!
In a dramatic move yesterday President Bush removed the executive-branch moratorium on offshore drilling. Today, at a news conference, Bush repeated his new position, and slammed the Democratic Congress for not removing the congressional moratorium on the Outer Continental Shelf and elsewhere. Crude-oil futures for August delivery plunged $9.26, or 6.3 percent, almost immediately as Bush was speaking, bringing the barrel price down to $136.
Now isn’t this interesting?
Democrats keep saying that it will take 10 years or longer to produce oil from the offshore areas. And they say that oil prices won’t decline for at least that long. And they, along with Obama and McCain, bash so-called oil speculators. And today we had a real-world example as to why they are wrong. All of them. Reid, Pelosi, Obama, McCain — all of them.
MORE (http://kudlow.nationalreview.com/post/?q=NjMyNDljNTQ5MThjNWE3YTAzYWYzMmZmNDVmMjA0ZWY=)
Figured this could go here in Political Ammo or in Political R&R.
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but ya know what? yesterday just before the Bush speech gas at the Chevron was $399.9/10 today at the same gas station it was $4.079/10 :mental:
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but ya know what? yesterday just before the Bush speech gas at the Chevron was $399.9/10 today at the same gas station it was $4.079/10 :mental:
Those prices where for August.
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If by today's actions the speculators know that oil will flow in 2, 5, 10 years..... the prices WILL drop tomorrow. It's called .... drum roll..... speculation. The future leaders ought to inform themselves of that. :-)
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but ya know what? yesterday just before the Bush speech gas at the Chevron was $399.9/10 today at the same gas station it was $4.079/10 :mental:
Those prices where for August.
:confused:
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but ya know what? yesterday just before the Bush speech gas at the Chevron was $399.9/10 today at the same gas station it was $4.079/10 :mental:
Those prices where for August.
:confused:
Today's oil was bought long ago. The oil that their trading for today is stuff that will be getting sold next month or so. Thats why there is no "overnight" fix to gas prices. So with drops in barrel prices today, we should be seeing drops in prices next month sometime.
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I'm really happy about this. The Dems are nailing their own coffin on this matter. They've made themselves look like the ones responsible for the bad prices, and their refusing to budge on the matter.
Thats only gonna help McCain get elected, and get some seats in Congress back. :-)
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Here's what I can't believe people aren't getting (not you guys - the idjits that vote Dem) - if you say "well, this won't help for 10 years" or "we won't see any real improvement for a long time...", etc...why in the hell would you wait? It makes no freaking sense! It's like saying "Well, it's going to take me a week to walk from my house to my friend's house. I guess I'll just wait instead of going now."
Idjits.
And what's even scarier is that libtards believe the crap San Fran Nan and co. are spewing. If they are going to deride the solutions as ineffective and slow, then come up with something better!!!!!!
Grrrrrrrrrr..........
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but ya know what? yesterday just before the Bush speech gas at the Chevron was $399.9/10 today at the same gas station it was $4.079/10 :mental:
Those prices where for August.
:confused:
Today's oil was bought long ago. The oil that their trading for today is stuff that will be getting sold next month or so. Thats why there is no "overnight" fix to gas prices. So with drops in barrel prices today, we should be seeing drops in prices next month sometime.
I understand that reasoning, but why then and 8 cent difference in one day?
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Here's what I can't believe people aren't getting (not you guys - the idjits that vote Dem) - if you say "well, this won't help for 10 years" or "we won't see any real improvement for a long time...", etc...why in the hell would you wait? It makes no freaking sense! It's like saying "Well, it's going to take me a week to walk from my house to my friend's house. I guess I'll just wait instead of going now."
Idjits.
And what's even scarier is that libtards believe the crap San Fran Nan and co. are spewing. If they are going to deride the solutions as ineffective and slow, then come up with something better!!!!!!
Grrrrrrrrrr..........
It makes no difference if it takes several years for oil to actually hit the market... the knowledge that it will come in the near future would help drop prices immediately. Of course, prices wouldn't plummet, but they'd go down. And the libtards want us to hold our breath waiting for a world powered by windmills. :thatsright: :loser: How can there be so many brain-damaged registered voters in this country?
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Here's what I can't believe people aren't getting (not you guys - the idjits that vote Dem) - if you say "well, this won't help for 10 years" or "we won't see any real improvement for a long time...", etc...why in the hell would you wait? It makes no freaking sense! It's like saying "Well, it's going to take me a week to walk from my house to my friend's house. I guess I'll just wait instead of going now."
Idjits.
And what's even scarier is that libtards believe the crap San Fran Nan and co. are spewing. If they are going to deride the solutions as ineffective and slow, then come up with something better!!!!!!
Grrrrrrrrrr..........
Well, I would simply counter their stupid arguements with "Well hell, don't you think our children will be needing some fuel in ten years? To be truthful? I think these politicans actually want the price of gasoline to hit 10 dollars a gallon then Al Gore gets his way and nobody but his fat azz goes anywhere!
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^ding ding ding
it's a transparent political ploy.
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Umm, he basically agreed with McCain and Obama's position on the oil speculators ie traders:
And they, along with Obama and McCain, bash so-called oil speculators. And today we had a real-world example as to why they are wrong. All of them. Reid, Pelosi, Obama, McCain — all of them.
Traders took a look at a feisty and aggressive George Bush and started selling the market well before a single new drop of oil has been lifted. What does this tell us? Well, if Congress moves to seal the deal, oil prices will probably keep on falling. That’s the way traders work. They discount the future. Psychology and expectations can turn on a dime.
oil speculators=traders and they at the very least work hand in hand to get things accomplished. They are indeed effected by what they see going on economically and politically and how they will treat barriers to getting energy resources. Speculators did indeed come in when the housing markets dried up for profits to tap a new market, however they are influenced by the political world.
So, while pointing the finger at speculators was correct since speculators ie those who invest and play this market are essentially those affecting it, politicians deflected the reasons as to WHY those speculators were involved in that market which largely gets back to them and their policies, as well as economics in general. Politicians, as Kudlow states, also discounted the effect that THEIR policies would have on FUTURES. I've said this here earlier folks, speculation on futures was driving the cost up and now it is driving the cost down(at least on the oil markets). Obviously they are driven to invest in or out of in the same way folks on the stock markets are--news, good or bad, WILL influence that market.
BTW, the bright idea of the same politicians is to restrict these markets even further which will hurt ALL the markets and hinder the economy even more. What a bunch of knuckleheads. :banghead:
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If by today's actions the speculators know that oil will flow in 2, 5, 10 years..... the prices WILL drop tomorrow. It's called .... drum roll..... speculation. The future leaders ought to inform themselves of that. :-)
:clap: :clap:
Yep and if anyone wants to watch something semi-similar, watch options contracts on stocks. They are far more volatile then the actual stock that underlies it so perhaps that gives an idea for Willow about the 8 cent swings in prices(they are more like 20 cents up here in the midwest :thatsright:). Prices are linked to this market and it is a very volatile one RIGHT NOW, hence the wild swings. Let me say that again, prices are linked to a volatile market based on future contracts. We have other commodities that work similarly, but we just don't feel some of those as acutely. OJ is one. We usually just do without OJ...gas, well, can't really go without that.
BTW, I think the dems lie about this out of both a lack of knowledge of how these things work AND because they have alterior motives on the whole energy thing anyway. The higher the prices, the more control they have and the more favor they gain. JMHO, though.
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but ya know what? yesterday just before the Bush speech gas at the Chevron was $399.9/10 today at the same gas station it was $4.079/10 :mental:
Those prices where for August.
Yep, can't remember the time frame, but I think it is 2-4 weeks out that the prices reflect the market condition.
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Have Oil Prices Peaked? Crude Plunges $16 in 3 Days
NEW YORK — Oil prices tumbled below $130 a barrel for the first time in more than a month Thursday, as crude's dramatic slide entered a third day accompanied by a sharp sell-off in natural gas.
The declines accelerated amid growing concerns that the weakening economy and creeping inflation are eroding demand for fossil fuels in the U.S. and other large energy-consuming nations.
Oil is now more than 10 percent cheaper per barrel than it was on Monday; natural gas prices are down more than 20 percent just since the Fourth of July. Still, experts are not convinced that prices have turned a corner.
Although congress has done nothing, I expect Bella Pelosi et al to take credit for this before the weekend ends. :whatever:
MORE (http://www.foxnews.com/story/0,2933,385525,00.html)