Posted on 08/04/2008 1:14:16 PM PDT by 300magnum
All the same, we need off shore and ANWAR drilling, shale oil production, coal utilization, nuclear power generated electricity, and other alternative energy sources to freeze out the Arabs and Iranians.
Wait a year into an Obama administration and $200 will seem cheap.
We still need to drill now. We can’t let the Democrat party keep us dependent on terrorist oil. Keep the pressure on, hot and heavy. This is the one issue that the general public may start to understand.
We don’t need no OBAMA!!!!!!
OPEC thinks prices are too high. They do NOT like all talk in the US about tapping domestic supplies. They would like to see prices fall, and will run flat out until they do, big time.
They also need to discourage any financial modelers from showing a decent return on alternatives.
If you look at the idiots on Marketwatch.com on their forums, you’ll see them saying “if it broke the 120 support level, why did it immediately rally? It should have spiraled out of control to 110 or less if it broke that support level!”
I heard somewhere that if it broke 130, look for it to retreat to 100. Obviously, it wouldn’t happen over night, but the slide has been percipitous. It’s going to test these support levels quite a few times before it finally finds a balance. The point? What goes up, must come down, just the question is on the rate of decline.
P.S. JUST REMEMBER, ALL THIS HAPPENED, THE PRICE COMING DOWN, WITH STINKING, STUPID, @$$HOLE POLITICIANS NOT GETTING INVOLVED!!!!!!!!!!!!!!!!!!
Aren’t you lucky, in my area in CA it has dropped 30 cents to 4.31 for unleaded regular(do I really need to put in the 9/10). That is the absolute lowest here, but in Sacramento it is lower but still over 4 bucks per.
Silly citizen. Who are you to decide what you do or do not need?
That’s what the Government is for.
but...but...but...PEAK OIL!!!!11!
Speculation works both ways. I agree it pushed it up, but now we are seeing it work to bring it down too.
In what way? Nothing happened to the speculators. They're still there.
The price change happened when your President made it plain that America was going to get serious about its future oil supply. As oil is heavily pre-brought, the perceived change in the future oil-supply had an immediate effect on price.
I feel your excitment”DUHH accepted...”
Mkts do NOT make major moves in a straight line. Ever. Crude is certainly not an exception, and the idiots (a very apt description, btw) on Marketwatch should know better...but quite obviously do not.
>> This PROVES that the driving force in this scandalous rape of the public was generated by speculators. <<
Not really. It sounds like there are solid reasons for a reversal in price: increased production in the Persian Gulf; Thunder Horse back on line...
(I’m only saying what is and isn’t proven. I do agree with your basic point.)
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.