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And no, I don't mean bad as in bad because we will become more dependent on oil again. I mean, look how much oil prices have dropped in the last three months. Doesn't that seem extremely odd to anyone? Is that a good thing or not? Should oil seriously drop so fast? I'm not an economist so someone explain to me what that means, without the leftist global warming bull**** thrown in.
And no, I don't mean bad as in bad because we will become more dependent on oil again. I mean, look how much oil prices have dropped in the last three months. Doesn't that seem extremely odd to anyone? Is that a good thing or not? Should oil seriously drop so fast? I'm not an economist so someone explain to me what that means, without the leftist global warming bull**** thrown in.
Deleveraging. A lot of speculators bet oil would go higher and now have to sell their positions or suffer greater loses. It overshot on the way up and on the way down. The further it drops the faster it shoots back up because low prices discourage exploration & development. That's what I'm betting on but who knows. Life is a crap shoot.
And no, I don't mean bad as in bad because we will become more dependent on oil again. I mean, look how much oil prices have dropped in the last three months.
No cheap oil prices aren't bad for a declining economy, but it is certainly one symptom. Beyond simplistic arguments about oil speculation, a downturn in demand should always be followed by a downturn in price. As economic indicators fell so did the price of oil. No surprise there.
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I'm not an economist so someone explain to me what that means, without the leftist global warming bull**** thrown in.
If you are going to ask questions and then demand not to hear answers that you might not like, I would suggest not asking the question in the first place.
Cheap oil is good. Kind of like a tax cut. Just filled my motorcycle for $8.50, use to cost almost $20. Now I have money to spend on other things, stimulates the economy. Not good for the oil producing countries which in turn does effect or country in certain ways but I have no time to explain. Time to burn up that cheap gas in my motorcycle. Florida is great in the winter!
If you are going to ask questions and then demand not to hear answers that you might not like, I would suggest not asking the question in the first place.
I think the real question is how can Exxon justify the spike? To say supply and demand is the reason is absurd unless 2 years ago it suddenly all ran out and just by some miracle they suddenly discovered a whole new supply and now we can all be comfortable that it will be cheap and plentiful well into the future.
Big Oil owned the gov't for the past 8 years.
Gas prices suddenly went from one dollar to four.
If there was some shortage, costs to extract would have cut into Big Oil's profits. In fact however, exactly the opposite happened. Big Oil saw record profits.
The oil spike was obvious price gouging which the Bush appointed SEC would not investigate.
With Obama, the threat of investigate looms, so now Big Oil had better be good.
Also with people like T Boone Pickens putting three billion into to solar to end our oil dependency, and with Chevy developing the Volt which need do no business with Exxon, now big oil has to cut out its gouge until America goes back to sleep and T Boone and the Volt go under. After those threats are gone, the fox will be back to raid the hen house again.
BTW, I think the underpinning of the recession is really oil prices. It was well known that the ripple effect of quadrupled gas prices would affect every sector of the economy. People who had to pay 4x for gas now had less to pay the mortgage, or buy a new Chevy SUV. Anyone who ever study any economics knows that, but Bush stood idle when the Big Oil tidal wave swept the world and drowned the economy.
BushCo was simply entirely based on Machiavellian economics. They came they looted now they will go on vacation. in the meantime, their propaganda machine will continue to try selling various other stories to blame anyone but themselves, be it ACORN, Fannie Mae, or the Socialist boogeyman. And sooner or later, Americans will go back to sleep, and then Machiavelli will be back again waving the flag, lambasting the terrorists, and ripping off Mr and Mrs America once again to the rousing cheers of their thoroughly propagandized victims.
Hitler did the same thing (only killing rather than stealing). As Bush stole everything he could from very own supporters, Hitler eventually turned his guns against the Berliners as they tried to escape the charging Russians.
The downturn in the price of gas at the pump has everything to do with the decline in demand for crude oil by countries like China and India.
Personally, I like filling up for $1.59 per gallon (something I did about an hour ago) as opposed to $4.00 per gallon.
However, I'm afraid that cheaper gas is going to drive Americans right out of our economy cars and back into the gas guzzlers. And I'm afraid it's also going to cause interest in public transportation, and other measures of economizing, to dwindle.
However, I'm afraid that cheaper gas is going to drive Americans right out of our economy cars and back into the gas guzzlers. And I'm afraid it's also going to cause interest in public transportation, and other measures of economizing, to dwindle.
I agree. People, unfortunately, have short memories...
the OP asked a question about oil and gets an answer that its the evil bush/cheney masterminds bush, the guy who the left says is an idiot who cant speak a clear sentence. bush the mastermind to make extra money before he leaves office. how much more is bush worth? how much did he make? show me, or shut up. please. how simple minded can some of you get. if bush was so smart, so complicated a thinker, was it his plan for obama to become prez? how intensly evil is he.
I agree. People, unfortunately, have short memories...
Sure do.
If we wanted to, we could become 100% free of our dependence on foreign oil. Then we could completely change foreign policy with/toward OPEC nations, middle-east terrorists, Chavez, etc.
Unfortunately, it's not going to happen. I'd bet that gasoline consumption will increase exponentially in reaction to the lower prices at the pump.
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bush, the guy who the left says is an idiot who cant speak a clear sentence. bush the mastermind to make extra money before he leaves office. 
how much more is bush worth? how much did he make? show me, or shut up. please. how simple minded can some of you get. 
if bush was so smart, so complicated a thinker, was it his plan for obama to become prez? how intensly evil is he. 
