http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x2934371Oh my.
So that's what's going on.
ThomWV (1000+ posts) Thu Feb-28-08 07:37 AM
Original message
Bet oil prices will drop today, and continue to drop for a while to come
People who are C-Span junkies and pay a lot of attention to little things that are said on the Senate floor will know why. The rest can stare and wonder.
liberal N proud (1000+ posts) Thu Feb-28-08 07:39 AM
Response to Original message
1. Please clue us in
What little things do you mention that will provide the reasons for your forecast.
I do hope that your prediction is right and the prices do come down. I have a driving trip coming up in March that I am already dreading the fuel bill for.
ThomWV (1000+ posts) Thu Feb-28-08 08:06 AM
Response to Reply #1
7. Filling the Strategic Petroleum Reserve will be stopped
People should listen. Byron Dorgan, who heads the appropriate subcommittee vowed that no more oil would be pumped into the ground at the Strategic Petroleum Reserve. That means a continued cut in effective consumption from domestic supplies, which means, along with pump-shock that is finally setting in, that our need to import will be reduced by a corresponding amount, which in this case is between 125,000 and 250,000 barrels per day of light sweet - the best.
Also, this is oil for which there is no cash outlay into the market - we get this oil in exchange for tax credits from domestic drilling, primarily from the gulf. So you get reduced consumption matched with no change in cash going into the market - a double it on Price and not just a one-day event, this would be simi permanent.
Angela Shelley (1000+ posts) Thu Feb-28-08 08:13 AM
Response to Reply #7
8. Thanks for the highly informative insight!
Trajan (1000+ posts) Thu Feb-28-08 08:18 AM
Response to Reply #8
10. A local news story in Portland Oregon
Gasoline prices have skyrocketed in Oregon .... 11 cents in one week, 16 cents the next ....
The reason ? .... Prices were rising in anticipation of prices rising this coming spring ....
Yes ..... Prices should always increase when they might increase later ...
It has NOTHING to do with rich petroleum moguls stuffing the pockets as fast as they can to achieve the highest profit rates known to mankind .... Nope .....
My, my, how fleeting the memory of the condom primitive, who's obviously forgotten that two years ago, in April 2006, the Democrats promised that if elected into control of Congress later that year, they'd bring gasoline prices down.
Well, the Democrats got elected, and gasoline prices keep going up and up.
What's up with that?
It's a medium-sized bonfire, mostly full of Hate and error.
