Monday, August 4, 2008

Oil takes a dip

Well would you look at that. . . . Obama says he may be for more off shore drilling and the price of oil fell under $120 for a bit. That and the hurricane missed the oil fields.

But I thought the Dems were holding up any votes on off shore drilling because it would not effect the price for at least 10 years? What is this then?? Is Obama really the god hid followers think he is that he can magically lower the cost of oil or are the Dems playing with the price of gas, home heat, and our very economy for their own political gain?

Now we finally have both candidates looking to get this fixed. I wonder if Pelosi will continue to try to get Obama elected and ignore the cost to the rest of us by holding off any action by Congress.

Gas is still at least a buck over where it was a year ago and polls show up to 75% of folks list gas as a hardship at this point. How is our consumer based economy going to keep going if we have to spend all our free cash on gas just to get to work? What happens when we can’t afford the gas to get to work??

I wish I thought Congress was worried about this but I really think this is what they want. They can’t stand that the economy had started to turn, that the surge worked, and that as inept as Bush is things were actually not as bad as they had hoped for election time. So the answer seems to be to put the screws to you and me and make it hurt in hope that we will blame the Republicans and totally forget the Democrats control Congress and continue to roadblock any attempt at helping us.

Folks the proof is there, even CNN noted the effect of Obama changing from no drilling to the drilling is ok option and how that has lowered oil prices. If we really want to see them drop, we need to get Congress to remember who they work for and remove the foolish bans on off shore drilling. We can not due without the oil. It would be nice to have cleaner fuel, but we don’t yet. Our economy can not take this hit as the Dems pretend we have alternatives to oil. . . . We don’t and we need to tap into what we can get until the alternatives are available. The mentality of the Nancy Pekosi to cut off our nose to spite our face by not drilling is only hurting America. . . but that is what she wants so I guess it is working right Nancy?

5 comments:

Anonymous said...

Correlation is not the same as causation. I doubt the price of oil had anything to do with Obama. Call me a skeptic.

Also, Edouard hasn't cleared out yet.

In any case, did I tell you about this a year ago or what? The situation is going to get worse. Even with unchecked drilling, we have serious problems. Watch for a release from the SPR as a set up for the real show.

Overview: Peak Oil

The gotcha: Net Oil Exports

I think China has massive amounts of industry temporarily shut down for the Olympics. This helps reduce global demand for oil and has stopped the rising oil prices for the moment. After the Olympics, they don't have to keep the smog out of Beijing any more.

JD said...

I am sure this is a temporary dip, and China may factor into it somewhat. We need to start drilling now to prove we are serious about getting to our own oil. If not, prices will skyrocket.

It doesn't help that the Dems want oil to cost $10+ a gallon in their great misguided save the world mentality either.

Time to vote the Dems back out of office. They F'd up worse than the Republicans and I didn't think it was possible. . .

Borepatch said...

The republicans really are the stupid party here. While their "we'll stay and keep the lights on for you" in Washington is funny and all, they are missing the big headline. Consider:

If gas drops $1 a gallon because the futures markets expect lower prices, this translates to $10-$15 per average Joe per week.

That's $500 in after tax dollars. Probably a lot more.

"Vote for us - we'll put $500 a year into your pocket."

I'd ask why someone like me has to think this up, but I already answered it (see Party, Stupid).

JD said...

Ted

I have to disagree on this one. What the Republicans are doing is purely for political gain same as the Dems are doing with stopping the vote.

They are getting some press, and they are showing (or trying to) that they are on the side of the middle class and they hear the pain and want to lower prices.

The goal is to show the Dems as unresponsive to the people and that they are arrogant playing games with issues that hurt us and the economy and in that respect I think it is working. . .

Anonymous said...

Both parties are playing games. With the issues you focus on, it's pin the tail on the donkey. When it comes to taxes and monetary policy, it's a shell game.

Fuzzy Bush math

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