For the cheap oil! Gas isn't such a luxury anymore now.
For the cheap oil! Gas isn't such a luxury anymore now.





oh LOL! Go get'em brother.









He gets credit when it goes down, but is not involved when it goes up? What a HERO!!!
(or what self-deception)
I loved going to strip clubs; I actually made some friends there. Now things are different for the clubs and for me. As a result I am not as happy.
Customers are not entitled to grope, disrespect, or rob strippers. This is their job, not their hobby, and they all need income. Clubs are not just some erotic show for guys to view while drinking.
NOTE: anything I post here, outside of a direct quote, is my opinion only, which I am entitled to. Take it for what you estimate it is worth.
Hate to rain on your parade, but as soon as the economy recovers, so will gas prices.
http://money.cnn.com/2008/12/04/mark...ion=2008120414
Promote yourself and earn more money! This is a business that is owned by strippers for strippers. Let's make that money!




Yah, the dropping oil price is a product of the plummeting economy. Prices may rise regardless of recovery, as OPEC is expected to cut production.
The price of petrol is dropping rapidly here too (due to the price of oil dropping) and, unless I'm mistaken, no Bush has ever taken office here.




More than anything else, the price of oil is political. That was why OPEC was formed....to use oil as a political weapon against the West (partly because of it's support of Israel).
Even with increased demand in the last decade, there is no supply problem. Even with refining, it is not a problem. Iran and Venezuela, two major oil producing nations, rely on importing refined gas for the majority of its needs.
Reagan went to Saudi Arabia and asked them to increase suply (they are the most influential OPEC nation) in exchange for concessions. And oil prices dropped gradually to over 50% less.
If a major OP nation just threatens a cut, prices go up. Threaten to attack and cause a disruption in that supply, prices go up.
Even with the gas rationing we had in the early 70's, there was plenty supply, ships were sitting off shore just waiting to pull into port. It was laws that were passed that prevented the higher cost from being passed on to consumers. The European countries that didn't pass crazy laws didn't have the rationing we experienced.
And then you get the speculator who drove the price up to over a hundred dollars a barrel.
IMO the market is correcting itself. I know, simplistic, but hey, that's me.![]()

My take on is that the oil prices started going down as soon as it looked more and more like an Obama victory. Best way for those involved to avoid those pesky investigations and possible jailtime or lawsuits for manipulating the market, cullosion and price gouging. Just my opinion of course but the timing was interesting.





I would totally agree with you on this observation ! However, the reasons behind the oil price reaction are likely to be far less benign than lower gasoline prices.My take on is that the oil prices started going down as soon as it looked more and more like an Obama victory









"never trust a big butt and a smile"-- Bell Biv DeVoe
If you're in your twenties and aren't a liberal, you have no heart. If you're in you're forties and aren't a conservative, you have no brain - Winston Churchill









I didn't say that, but if he is responsible for the lower gas prices, as Arctic says, then maybe he is also responsible for the meltdown.
Personally, I think it would be easier to make a case for Obama's impending presidency more likely causing a stock market decline than a decline in gas prices.
"never trust a big butt and a smile"-- Bell Biv DeVoe
If you're in your twenties and aren't a liberal, you have no heart. If you're in you're forties and aren't a conservative, you have no brain - Winston Churchill





Wow!, that's some fuzzy logic. Do you not get the point that the economy goes down because of the economic situation which is a mess and that the oil went down because the protection that they were receiving from the Bush administration and would likely receive from the McCain administration would have ended with an Obama election.
Go look at what happened to Microsoft after Bush won. Their stock was down because they were in court the the Clinton administration for anti-trust and were going to lose and when Bush won they new the case would be dropped, soon as he was elected the stock went through the roof. It's the inverse with Obama.




Protection? lololol Nothing they were doing was illegal. The oil speculators were not doing anything illegal. Governments tend to be reactive, when it happened, they identified problems, and they were fixed, I already posted links on the matter in oil specific threads, I even made a thread. COnsidering the prices have been dropping for sometime, to say there was any protection is just wrong.
This is not limited to this admin. Every admin that comes in generally puts its own people in place and views on subjects may be different.
Dems historically target large corporations, so small and mid sized ones do better in their economies. Repubs don't believe in discriminating against the larger ones, so they do better in their economies.
All you have to do is look up Solicitor General and you can see differnces in arguments from admin to admin. So, really, a change of views is no big deal.









Or the oil commodity speculators had to sell their futures contracts because their margin payments were coming due and they had to raise money by selling something. Notice the peaking and dropping rates? That's certainly not demand alone.
I believe this is even more true. Speculators drove the price up BY over $100/BBL.
I loved going to strip clubs; I actually made some friends there. Now things are different for the clubs and for me. As a result I am not as happy.
Customers are not entitled to grope, disrespect, or rob strippers. This is their job, not their hobby, and they all need income. Clubs are not just some erotic show for guys to view while drinking.
NOTE: anything I post here, outside of a direct quote, is my opinion only, which I am entitled to. Take it for what you estimate it is worth.





So does that mean the impending Obama victory caused the stock market decline as well?
You can't have it both ways.
Actually there isn't any 'both ways' about it. Arguably, it all starts with the impression that the US business climate will worsen under the proposed tax increases and increased gov't regulation of an Obama administration. This in turn caused downward pressure on the stock market and downward pressure on consumption. This in turn caused companies to preserve profitability by laying off workers and scaling back production. Laid off workers do not need to buy gas to drive to work, and idle production shifts do not use (partially oil based) electricity. Shipping companies use 1/3rd less oil delivering 1/3rd fewer products because of the idled production shifts.
At the same time, the failling stock market and changes in the US dollar exchange rate created margin calls. Speculators must sell 'profitable' investments in order to cover, and one of their most profitable past investments had been oil futures.





Gasoline prices have drastically risen and fallen worldwide, especially so in the last year. But gasoline consumption has NOT changed very much worldwide. What has changed is the commodity futures picture.
Last edited by threlayer; 12-05-2008 at 06:41 PM. Reason: add NOT <sigh>
I loved going to strip clubs; I actually made some friends there. Now things are different for the clubs and for me. As a result I am not as happy.
Customers are not entitled to grope, disrespect, or rob strippers. This is their job, not their hobby, and they all need income. Clubs are not just some erotic show for guys to view while drinking.
NOTE: anything I post here, outside of a direct quote, is my opinion only, which I am entitled to. Take it for what you estimate it is worth.





^^^ again I would argue that the 'yardstick' used to measure the fall in oil consumption must be kept in perspective. At this point, oil consumption has fallen enough that essentially all US storage tank facilities are full to the brim ... to the point that tankers full of crude oil are sitting in harbors waiting for enough oil to be drawn down from the storage tanks so that they can be unloaded ... with yet more oil tankers already en-route to the same harbors !!! While the absolute value of this reduction in oil consumption might only be 3-4% on a worldwide basis, in terms of IMPORTED oil into the USA the percentage is much higher ... sufficiently high to back up the entire crude oil delivery stream all the way back to the middle eastern oil platforms !





The whole point of my post was you want to give credit to Obama for all things good ( even if they happen months before he is expected to take office ) and blame Bush for all things not good. Like I said, you can't have it both ways. The sinking economy and falling gas prices are inextricably linked. The credit (or blame ) for either lies with the same party because of that link.
"never trust a big butt and a smile"-- Bell Biv DeVoe
If you're in your twenties and aren't a liberal, you have no heart. If you're in you're forties and aren't a conservative, you have no brain - Winston Churchill





And if you really want to thank Bush for something, thank him for keeping America safe since 9/11. In the days following 9/11, how many people would have thought the next seven years would see no attacks on American soil? But I suppose the liberals will not even give him credit for that.
"never trust a big butt and a smile"-- Bell Biv DeVoe
If you're in your twenties and aren't a liberal, you have no heart. If you're in you're forties and aren't a conservative, you have no brain - Winston Churchill

How does the president/presidential campaign directly affect gas prices? Am I missing something?
The artist formerly known as your mom
Oh now that is just rich considering we and the entire rest of the world are at MORE risk now not less because of his actions as President. But whatever this is about gas prices.
My take on the massive gas price fluctuations is a combo of many of the comments in this topic. It's the economy, price gouging, commodity speculation as well as political manipulation.
I predict that under Obama much of that will settle down but he can only do so much and thus some of those issues will remain with us as they always have been with us.
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