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.
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.
>> 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.)
This doesn’t prove anything. Pelosi, the Democrat/Marxists and those like you blaming the speculators wanted to stop them from speculating. Well if you would have had your way then the speculators would not be bringing the price down now to below $120 because you would have stopped speculation at $147 per barrel.
Funny how that price mechanism thing works to rein in demand and affect the supply-demand equation which the speculators then react to. And Thank president Bush too for ending the ban on offshore oil production which told everyone we were getting serious about increasing supply. And thank the Republicans in Congress who are now calling for Congress to end its ban on drilling.
This doesn’t prove anything. Pelosi, the Democrat/Marxists and those like you blaming the speculators wanted to stop them from speculating. Well if you would have had your way then the speculators would not be bringing the price down now to below $120 because you would have stopped speculation at $147 per barrel.
Funny how that price mechanism thing works to rein in demand and affect the supply-demand equation which the speculators then react to. And Thank president Bush too for ending the ban on offshore oil production which told everyone we were getting serious about increasing supply. And thank the Republicans in Congress who are now calling for Congress to end its ban on drilling.
However, I do agree with you that Congress needs to end the Democrat led bans on developing the 2 trillion barrels of oil in oil shale in the U.S. and other bans on energy like coal to oil, OCS, ANWR, Nuclear etc.
It proves nothing, other than your complete ignorance of markets.